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 |
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 |