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Get filing alertsMetroCity Bankshares reports Q2 net income of $22.1M, margin expands to 4.11%
Filed July 24, 2026 · Period ending July 24, 2026 · ~1 min read
Key Changes
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Q2 2026 net income of $22.1M ($0.76/share) down 0.8% QoQ but up 31.5% YoY, reflecting First IC acquisition completed Q4 2025.
Exhibit 99.1 view on EDGAR → -
high
Net interest margin improved 3bp QoQ to 4.11% (34bp YoY), driven by higher asset yields (6.57%, up 6bp) partially offset by higher deposit costs (3.36%, up 11bp). $750M in rate derivatives reduced interest expense by $1.5M.
Exhibit 99.1 view on EDGAR → -
medium
Deposits declined $137.3M (3.8%) QoQ to $3.49B, with outflows in money market ($105.2M), time deposits ($38.5M), and noninterest-bearing demand ($16.2M). Uninsured deposits rose to 33.1% from 31.9%.
Exhibit 99.1 view on EDGAR → -
medium
Loans fell $44.8M (1.1%) QoQ to $3.96B, driven by declines in CRE ($29.2M) and residential real estate ($27.3M). YoY growth of $834.8M (26.7%) reflects First IC acquisition.
Exhibit 99.1 view on EDGAR → -
medium
Recorded $792K credit loss recovery in Q2 2026. Nonperforming assets rose to $18.7M (0.41% of assets) from $18.0M (0.38%) at Q1-end. Allowance coverage of NPLs at 148%.
Exhibit 99.1 view on EDGAR →
Summary
MetroCity Bankshares reported Q2 2026 net income of $22.1 million ($0.76 per diluted share), essentially flat quarter-over-quarter but up 31.5% year-over-year. The year-over-year gain reflects the First IC Corporation acquisition completed in Q4 2025, which expanded the loan portfolio and interest income base.
Net interest margin improved 3 basis points sequentially to 4.11%, driven by higher yields on earning assets (6.57%, up 6bp) that more than offset rising deposit costs (3.36%, up 11bp). The company's $750 million in interest rate derivatives reduced interest expense by $1.5 million in the quarter.
The quarter saw balance sheet contraction: deposits fell $137.3 million (3.8%) to $3.49 billion, with outflows concentrated in money market accounts ($105.2 million) and time deposits ($38.5 million). Uninsured deposits rose to 33.1% of total deposits from 31.9% at quarter-end. Loans declined $44.8 million (1.1%) to $3.96 billion, driven by decreases in commercial real estate and residential real estate portfolios. Asset quality remained stable with a $792,000 credit loss recovery, though nonperforming assets ticked up to 0.41% of total assets from 0.38%. The company maintains $1.72 billion in available borrowing capacity.
Section-by-Section Diff
Event · Exhibit 99.1
MetroCity Bankshares reported Q2 2026 net income of $22.1M ($0.76/share), down 0.8% QoQ, with net interest margin rising 3bp to 4.11%.
Added in current filing · view on EDGAR →
net income of $22.1 million, or $0.76 per diluted share, for the second quarter of 2026, compared to $22.3 million, or $0.77 per diluted share, for the first quarter of 2026, and $16.8 million, or $0.65 per diluted share, for the second quarter of 2025.
MetroCity reported Q2 2026 net income of $22.1 million ($0.76 per diluted share), down slightly from $22.3 million ($0.77 per share) in Q1 2026 but up 31.5% from $16.8 million ($0.65 per share) in Q2 2025. The year-over-year increase reflects the First IC Corporation acquisition completed in Q4 2025, which expanded the loan portfolio and interest income.
Added in current filing · view on EDGAR →
Loans held for investment were $3.96 billion at June 30, 2026, a decrease of $44.8 million, or 1.1%, compared to $4.00 billion at March 31, 2026
Gross loans declined $44.8 million (1.1%) quarter-over-quarter to $3.96 billion, driven by a $29.2 million decrease in commercial real estate loans, a $27.3 million decrease in residential real estate, and a $6.9 million decrease in commercial and industrial loans, partially offset by a $16.9 million increase in construction and development. Year-over-year, loans grew $834.8 million (26.7%) due to the First IC acquisition.
Added in current filing · view on EDGAR →
Deposits were $3.49 billion at June 30, 2026, a decrease of $137.3 million, or 3.8% compared to total deposits of $3.63 billion at March 31, 2026
Total deposits declined $137.3 million (3.8%) quarter-over-quarter to $3.49 billion, with decreases in money market accounts ($105.2 million), time deposits ($38.5 million), and noninterest-bearing demand deposits ($16.2 million), partially offset by a $23.0 million increase in interest-bearing demand deposits. Uninsured deposits rose to 33.1% of total deposits from 31.9% at March 31, 2026. The company maintains $1.72 billion in available borrowing capacity.
Added in current filing · view on EDGAR →
The Company recorded a recovery for credit losses of $792,000 during the second quarter of 2026, compared to a recovery for credit losses of $813,000 during the first quarter of 2026 and a provision for credit losses of $129,000 during the second quarter of 2025.
MetroCity recorded a $792,000 recovery for credit losses in Q2 2026, reflecting lower loan balances and reduced reserves on individually analyzed loans. Nonperforming assets increased modestly to $18.7 million (0.41% of total assets) from $18.0 million (0.38%) at March 31, 2026. The allowance for credit losses to total loans was 0.65%, and coverage of nonperforming loans was 148.08%.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 27, 2026 · How we verify