MetroCity Bankshares, Inc. reported a net income of $22.1 million for the second quarter of 2026, reflecting a 31.5% increase from $16.8 million in the same period last year. For the first half of 2026, net income rose to $44.4 million, up 34.2% from $33.1 million in the prior year. The growth in profitability was primarily driven by a significant increase in net interest income, which rose by $11.9 million in the second quarter and $25.8 million in the first half, alongside a decrease in the provision for credit losses. Basic earnings per share for the second quarter were $0.77, compared to $0.66 a year earlier, while diluted earnings per share increased to $0.76 from $0.65.
The company's total assets decreased by 5.2% to $4.52 billion as of June 30, 2026, down from $4.77 billion at the end of 2025. This decline was attributed to reductions in cash and cash equivalents, securities, and loans. Total loans held for investment decreased by 2.3% to $3.98 billion, with notable declines in commercial real estate and commercial and industrial loans, partially offset by an increase in construction and development loans. The allowance for credit losses was $25.8 million, down from $27.8 million at the end of 2025, reflecting lower loan balances and reduced reserves on individually analyzed loans.
MetroCity Bankshares completed the acquisition of First IC Corporation in December 2025, which has contributed to its growth in customer base and product offerings. The merger is expected to enhance operational synergies and improve long-term financial results. The company operates 27 full-service branches and two loan production offices across several states, focusing on serving multi-ethnic communities, particularly Asian-American populations. As of June 30, 2026, the bank's total deposits were $3.49 billion, a decrease from $3.65 billion at the end of 2025, driven by a strategic reduction in higher-cost deposits.
In terms of operational metrics, the bank's nonperforming loans represented 0.57% of total loans as of June 30, 2026, a slight improvement from 0.62% at the end of 2025. The company reported a recovery for credit losses of $792,000 in the second quarter, compared to a provision for credit losses of $129,000 in the same quarter last year. Looking ahead, MetroCity Bankshares anticipates continued growth driven by its strategic initiatives and the integration of First IC, while remaining vigilant to potential economic challenges that could impact credit quality and overall performance.
About MetroCity Bankshares, Inc.
MetroCity Bankshares, Inc. is a bank holding company operating through its Georgia-based subsidiary, Metro City Bank. It provides personalized banking services, including loans, deposits, and treasury management, primarily to small- and medium-sized businesses and individuals in multi-ethnic communities across the U.S. Southeast and Texas. The bank emphasizes culturally competent service, diversified loan portfolios, and community-focused growth in competitive markets.
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