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Dec 31, 2024
Metrocity Q4 2024 Earnings Report
Reported net income for the fourth quarter of 2024.
Key Takeaways
MetroCity Bankshares, Inc. reported net income of $16.2 million, or $0.63 per diluted share, for the fourth quarter of 2024, compared to $11.3 million, or $0.44 per diluted share, for the fourth quarter of 2023.
Net income was $16.2 million for the fourth quarter of 2024, a decrease of $466,000, or 2.8%, from $16.7 million for the third quarter of 2024.
Net income increased by $4.9 million, or 43.1%, in the fourth quarter of 2024 compared to net income of $11.3 million for the fourth quarter of 2023.
Loans held for investment increased by $70.1 million, or 2.3%, to $3.16 billion from the previous quarter.
The net interest margin for the fourth quarter of 2024 was 3.57% compared to 3.17% for the fourth quarter of 2023.
Metrocity
Metrocity
Forward Guidance
The company provided forward-looking statements about future events and expectations, but cautioned that actual results could differ materially due to various risks and uncertainties.