MetroCity earnings rise, aided by acquisition and tax credit

MetroCity Bankshares ($MCBS) reported third-quarter 2026 net income of $24.3 million, or $0.84 per diluted share, compared with $17.3 million and $0.67 a year earlier. Profit also rose from $22.1 million in the second quarter. The year-on-year comparison reflects the acquisition of First IC in late 2025, while the sequential improvement benefited from a $4.0 million tax credit.

Underlying lending profitability was less buoyant quarter on quarter: net interest income fell by $483,000 and the net interest margin eased to 4.07% from 4.11%. The margin nevertheless remained above the prior-year 3.68%. Noninterest income also declined sequentially, partly because of lower gains on Small Business Administration loan sales. The results show higher reported earnings, but the acquisition and tax benefit are important qualifications when assessing the pace of recurring operating growth.

Sources:

• PR Newswire