MetroCity Bankshares, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 21, 2023 at 07:30 pm IST
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MetroCity Bankshares, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 24.97 million compared to USD 30.22 million a year ago. Net income was USD 13.11 million compared to USD 16.1 million a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to USD 0.63 a year ago. Diluted earnings per share from continuing operations was USD 0.51 compared to USD 0.63 a year ago.
For the six months, net interest income was USD 51.2 million compared to USD 60.87 million a year ago. Net income was USD 28.84 million compared to USD 35.53 million a year ago. Basic earnings per share from continuing operations was USD 1.15 compared to USD 1.4 a year ago. Diluted earnings per share from continuing operations was USD 1.13 compared to USD 1.38 a year ago.
MetroCity Bankshares, Inc. is a bank holding company. It operates through its banking subsidiary, Metro City Bank (the Bank), which is a Georgia state-chartered commercial bank. It offers a suite of loan and deposit products. The Bank operates over 20 full-service branch locations in multi-ethnic communities in Alabama, Florida, Georgia, New York, New Jersey, Texas and Virginia. It offers customary banking services, such as consumer and commercial checking accounts, savings accounts, certificates of deposit, commercial and consumer loans, including single family residential loans, money transfers and a variety of other banking services. It offers traditional depository products, including checking, savings, money market and certificates of deposits. It also offers a full suite of online banking solutions, including access to account balances, online transfers, online bill payment and electronic delivery of customer statements, mobile banking solutions for iPhone and Android phones.