Metrocity Bankshares Inc (OQ:MCBS)

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 5114 Buford Highway
DORAVILLE GA 30340
Tel: N/A
Website: N/A
IR: N/A
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Key People
Nack Y. Paek
Chairman of the Board, Chief Executive Officer of the Company; Executive Chairman of the Bank
Farid Tan
President, Director of the Company; Chief Executive Officer of the Bank
Lucas Stewart
Chief Financial Officer, Executive Vice President
Howard Hwasaeng Kim
Executive Vice President, Director of the Company; Chief Lending Officer, Chief Operating Officer, and President of the Bank
   
Business Overview
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.
Financial Overview
For the fiscal year ended 31 December 2023, Metrocity Bankshares Inc interest income increased 31% to $192.8M. Net interest income after loan loss provision decreased 15% to $101.5M. Net income decreased 18% to $51.6M. Net interest income after loan loss provision reflects Net Interest Margin - Total - % decrease of 21% to 3.13%, Net Interest Spread - Total - % decrease of 39% to 2.21%.
Employees: 220 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $486.98M as of Dec 31, 2023
Annual revenue (TTM): $192.83M as of Dec 31, 2023
EBITDA (TTM): $85.40M as of Dec 31, 2023
Net annual income (TTM): $51.61M as of Dec 31, 2023
Free cash flow (TTM): $58.97M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 25,205,506 as of Mar 4, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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