The Atlanta-based lender said second-quarter earnings were little changed from the prior quarter and up from a year earlier, with higher net interest income tied to the First IC deal and a 4.11% net interest margin.
MetroCity Bankshares reported second-quarter 2026 net income of $22.1 million, or $0.76 per diluted share, compared with $22.3 million, or $0.77 per diluted share, in the first quarter and $16.8 million, or $0.65 per diluted share, a year earlier. For the first six months of 2026, net income rose to $44.4 million, or $1.53 per diluted share, from $33.1 million, or $1.29 per diluted share, in the same period of 2025, as the fourth-quarter 2025 acquisition of First IC Corporation lifted interest income and overall balance-sheet size. The bank's net interest margin was 4.11% in the second quarter, up from 4.08% in the prior quarter and 3.77% a year earlier. Interest income totaled $70.4 million and interest expense $26.4 million, while the company said $750.0 million of interest rate derivative agreements designated as cash flow hedges on deposit accounts indexed to the Effective Federal Funds Rate generated a $1.5 million credit to interest expense during the quarter. Total assets stood at $4.52 billion at June 30, 2026, down from $4.69 billion at March 31, 2026 but up from $3.62 billion a year earlier. Loans held for investment were $3.96 billion and deposits were $3.49 billion at quarter-end. Noninterest-bearing deposits represented 22.4% of total deposits, uninsured deposits were 33.1%, and available borrowing capacity totaled $1.72 billion across the Federal Home Loan Bank, Federal Reserve Discount Window and other lines. Asset quality remained stable, with the company recording a $792,000 recovery for credit losses in the second quarter. Nonperforming assets were $18.7 million, or 0.41% of total assets, at June 30, 2026, compared with $18.0 million, or 0.38%, at March 31, 2026. The allowance for credit losses was 0.65% of total loans. MetroCity said second-quarter noninterest income fell to $5.8 million from $6.4 million in the prior quarter as SBA servicing income declined, although gains on sale of SBA loans increased. SBA loan sales totaled $27.1 million at an 8.21% sales premium, and mortgage loan originations were $75.4 million. Noninterest expense declined to $20.0 million from $21.4 million in the first quarter, partly because merger-related expenses eased.