Form 8-K

8-K — MetroCity Bankshares, Inc.

Accession: 0001104659-26-086635

Filed: 2026-07-24

Period: 2026-07-24

CIK: 0001747068

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — mcbs-20260724x8k.htm (Primary)

EX-99.1 (mcbs-20260724xex99d1.htm)

GRAPHIC (mcbs-20260724xex99d1001.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: mcbs-20260724x8k.htm · Sequence: 1

METROCITY BANKSHARES, INC._July 24, 2026

false000174706800017470682026-07-242026-07-24

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 24, 2026

METROCITY BANKSHARES, INC.

(Exact name of registrant as specified in its charter)

Georgia

No. 001-39068

47-2528408

(State or other jurisdiction of

incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)

5114 Buford Highway

Doraville, Georgia

30340

(Address of principal executive offices)

(Zip Code)

(770) 455-4989

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240-13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each Exchange on which registered

Common Stock, par value $0.01 per share

MCBS

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

Item 2.02 Results of Operations and Financial Condition

On July 24, 2026, MetroCity Bankshares, Inc. (the “Company”) issued a press release announcing its results of operations and financial condition for the second quarter ended June 30, 2026. A copy of the press release covering such announcement is attached hereto as Exhibit 99.1 and incorporated by reference herein.

In accordance with General Instruction B.2 of Form 8-K, the information furnished in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing or document.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.

Description

99.1

MetroCity Bankshares, Inc. Earnings Press Release dated July 24, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

METROCITY BANKSHARES, INC.

Date: July 24, 2026

By:

/s/ Farid Tan

Farid Tan

President and Interim Chief Financial Officer

EX-99.1

Filename: mcbs-20260724xex99d1.htm · Sequence: 2

Exhibit 99.1

FOR IMMEDIATE RELEASE

METROCITY BANKSHARES, INC. REPORTS EARNINGS FOR SECOND QUARTER 2026

ATLANTA, GA (July 24, 2026) – MetroCity Bankshares, Inc. (“MetroCity” or the “Company”) (NASDAQ: MCBS), holding company for Metro City Bank (the “Bank”), today reported 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. For the six months ended June 30, 2026, the Company reported net income of $44.4 million or $1.53 per diluted share, compared to $33.1 million, or $1.29 per diluted share, for the same period in 2025.

Second Quarter 2026 Highlights:

● Annualized return on average assets was 1.96% compared to 1.96% for the first quarter of 2026 and 1.87% for the second quarter of 2025.

● Annualized return on average equity was 17.52%, compared to 18.28% for the first quarter of 2026 and 15.74% for the second quarter of 2025. Adjusted return on average shareholder’s equity1, which excluded average accumulated other comprehensive income and merger-related expenses, was 17.70% for the second quarter of 2026, compared to 19.36% for the first quarter of 2026, and 16.31% for the second quarter of 2025.

● Efficiency ratio was 40.08%, compared to 42.16% for the first quarter of 2026 and 37.23% for the second quarter of 2025. Operating efficiency ratio1 was 39.54%, compared to 38.87% for the first quarter of 2026 and 36.35% for the second quarter of 2025.

● Net interest margin was 4.11%, compared to 4.08% for the first quarter of 2026 and 3.77% for the second quarter of 2025.

Year-to-Date 2026 Highlights:

● Return on average assets increased to 2.01% for the six months ended June 30, 2026, compared to 1.86% for the same period in 2025.

● Return on average equity increased to 17.90% for the six months ended June 30, 2026, compared to 15.71% for the same period in 2025. Adjusted return on average shareholder’s equity1, which, excluded average accumulated other comprehensive income, was 18.52% for the six months ended June 30, 2026, compared to 16.34% for the same period in 2025.

● Efficiency ratio increased to 41.13% for the six months ended June 30, 2026, compared to 37.76% for the same period in 2025.

● Net interest margin increased by 38 basis points to 4.10% for the six months ended June 30, 2026, compared to 3.72% for the same period in 2025.

________________________

1 Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures” for more information and for a reconciliation to GAAP.

Results of Operations

Net Income

Net income was $22.1 million for the second quarter of 2026, a decrease of $183,000, or 0.8%, from $22.3 million for the first quarter of 2026. This decrease was primarily due to a decrease in Small Business Administration (“SBA”) servicing income of $1.2 million, and an increase in provision for income taxes of $595,000, offset by an increase in gain on sale of SBA loans of $491,000, and a decrease in noninterest expenses of $1.5 million. Net income increased by $5.3 million, or 31.5%, in the second quarter of 2026 compared to net income of $16.8 million for the second quarter of 2025 as a result of the First IC Corporation (“First IC”) acquisition that occurred in fourth quarter of 2025. This increase was primarily due to an increase in interest income of $16.4 million, offset by an increase in interest expense of $4.5 million, an increase in noninterest expenses of $5.8 million, and an increase in income tax expense of $1.7 million.

Net income was $44.4 million for the six months ended June 30, 2026, an increase of $ 11.3 million, or 34.2%, from $33.1 million for the six months ended June 30, 2025. This increase was a result of the First IC acquisition that occurred in the fourth quarter of 2025, due to an increase in net interest income of $25.8 million and an increase in noninterest income of $1.0 million, offset by an increase in noninterest expense of $13.5 million, and an increase in income tax expense of $3.8 million.

Net Interest Income and Net Interest Margin

Interest income totaled $70.4 million for the second quarter of 2026, down $585,000, or 0.8%, from the previous quarter, primarily due to a $42.5 million decrease in average gross loans and an $80.5 million decrease in total average investments. Compared with the second quarter of 2025, interest income increased by $16.4 million, or 30.3%, primarily due to an $847.8 million increase in the average balance of gross loans, a $30.1 million increase in the average balance of investments, and a 26-basis-point increase in loan yield.

Interest expense totaled $26.4 million for the second quarter of 2026, a decrease of $139,000, or 0.5%, from the previous quarter, primarily due to a $125.7 million decrease in average interest-bearing deposits and a $26.2 million decrease in average borrowings, offset by an 11-basis-point increase in interest-bearing deposit costs. As compared to the second quarter of 2025, interest expense for the second quarter of 2026 increased by $4.5 million, or 20.5%, primarily due to a $578.3 million increase in average interest-bearing deposits balances and offset by a $16.0 million decrease in average borrowing balances and a three-basis point decrease in interest-bearing deposit costs. The Company currently has interest rate derivative agreements totaling $750.0 million that are designated as cash flow hedges of our deposit accounts indexed to the Effective Federal Funds Rate (3.63% as of June 30, 2026). The weighted average pay rate for these interest rate derivatives is 3.12%. During the second quarter of 2026, we recorded a credit to interest expense of $1.5 million from the benefit received on these interest rate derivatives compared to a benefit of $2.9 million and $4.2 million recorded during the first quarter of 2026 and the second quarter of 2025, respectively.

The net interest margin for the second quarter of 2026 was 4.11% compared to 4.08% for the previous quarter, an increase of three basis points. The yield on average interest-earning assets for the second quarter of 2026 increased by six basis points to 6.57% from 6.51% for the previous quarter. This was partially offset by the cost of average interest-bearing liabilities for the second quarter of 2026 increasing by 11-basis-points to 3.36% from 3.25% for the previous quarter. Average earning assets decreased by $123.1 million from the previous quarter, due to a decrease in average loan balances of $42.5 million, and a decrease of $80.5 million in

average total investments. Average interest-bearing liabilities decreased by $151.9 million from the previous quarter as average interest-bearing deposits decreased by $125.7 million and average borrowings decreased by $26.2 million.

As compared to the same period in 2025, the net interest margin for the second quarter of 2026 increased by 34 basis points to 4.11% from 3.77%, primarily due to a 23-basis-point increase in the yield on average interest-earning assets of $4.30 billion and a three-basis-point decrease in the cost of average interest-bearing liabilities of $3.15 billion. Average earning assets for the second quarter of 2026 increased by $877.9 million from the second quarter of 2025, due to a $30.1 million increase in average total investments and a $847.8 million increase in average loans. Average interest-bearing liabilities for the second quarter of 2026 increased by $562.2 million from the second quarter of 2025, driven by the increase in average interest-bearing deposits of $578.3 million, offset by a $16.0 million decrease in average borrowings.

Noninterest Income

Noninterest income for second quarter of 2026 was $5.8 million, a decrease of $602,000, or 9.5%, from the first quarter of 2026, primarily due to lower servicing income from our SBA and residential mortgage loans and other service charges, commission and fees, offset by higher gains on sale from our SBA loans and increases in service charges on deposits accounts. SBA loan sales totaled $27.1 million (sales premium of 8.21%) during the second quarter of 2026 compared to $19.7 million (sales premium of 7.68%) during the first quarter of 2026. Mortgage loan originations totaled $75.4 million during the second quarter of 2026 compared to $101.9 million during the first quarter of 2026. There were no mortgage loan sales during the second quarter of 2026 or the first quarter of 2026. During the second quarter of 2026, the fair value of our SBA servicing asset decreased by $86,000 compared to an increase in fair value of $666,000 during the first quarter of 2026. We also recorded no fair value impairment change on our mortgage servicing asset during the second quarter of 2026 or the first quarter of 2026.

Compared to the second quarter of 2025, noninterest income for the second quarter of 2026 increased by $22,000, or 0.4%, primarily due to higher gains on sale and servicing income from our SBA loans and service charges on deposits accounts, offset by decreases in gains on sale and servicing income from our residential mortgage loans.

Noninterest income for the six months ended June 30, 2026 totaled $12.1 million, an increase of $923,000, or 8.2%, from the six months ended June 30, 2025, primarily due to higher gains on sale and servicing income on SBA loans and service charges on deposits accounts, offset by decreases in gain on sale and servicing income on residential mortgage loans and other service charges.

Noninterest Expense

Noninterest expense for the second quarter of 2026 totaled $20.0 million, a decrease of $1.5 million, or 6.9%, from $21.4 million for the first quarter of 2026. This decrease was primarily attributable to decreases in merger-related expenses, salaries and employee benefits, occupancy and equipment and data processing, partially offset by an increase in other expenses.

Compared to the second quarter of 2025, noninterest expense during the second quarter of 2026 increased by $5.8 million, or 41.4%, primarily due to higher salaries and employee benefits, occupancy and equipment expense, data processing expense, security expense, loan expense, core deposit amortization expense, and merger-related expenses from the First IC acquisition that occurred in fourth quarter of 2025.

Noninterest expense for the six months ended June 30, 2026 totaled $41.4 million, an increase of $13.5 million, or 48.3%, from $27.9 million for the six months ended June 30, 2025. This increase was primarily attributable to increases in salaries and employee benefits partially due to higher commissions, employee insurance, and stock-based compensation, as well as higher expenses related to merger-related expenses, depreciation, occupancy, data processing, security, loans, and professional services.

The Company’s efficiency ratio was 40.08% for the second quarter of 2026 compared to 42.16% and 37.23% for the first quarter of 2026 and the second quarter of 2025, respectively.

Income Tax Expense

The Company’s effective tax rate for the second quarter of 2026 was 27.7%, compared to 26.2% for the first quarter of 2026 and 28.9% for the second quarter of 2025.

Balance Sheet

Total assets were $4.52 billion at June 30, 2026, a decrease of $168.4 million, or 3.6%, from $4.69 billion at March 31, 2026, and an increase of $904.3 million or 25.0%, from $3.62 billion at June 30, 2025. The $168.4 million decrease in total assets at June 30, 2026 compared to March 31, 2026 was primarily due to decreases of $120.9 million in cash and cash equivalents, $43.4 million in gross loans, and $2.4 million in Federal Home Loan Bank stock. The $904.3 million increase in total assets at June 30, 2026 compared to June 30, 2025 was primarily due to the First IC acquisition that occurred in fourth quarter of 2025, with increases in gross loans of $831.1 million, goodwill and core deposit intangible of $68.0 million, securities of $11.2 million, operating lease right-of-use asset of $5.9 million, servicing asset of $4.4 million, and premises and equipment of $11.8 million partially offset by decreases in cash and cash equivalents of $19.3 million and interest rate derivatives of $7.9 million.

Investment Securities

Our investment securities portfolio made up only 0.99% of our total assets at June 30, 2026, compared to 0.96% and 0.93% at March 31, 2026 and June 30, 2025, respectively.

Loans

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, and an increase of $834.8 million, or 26.7%, compared to $3.1 billion at June 30, 2025. The decrease in loans at June 30, 2026 compared to March 31, 2026 was due to a $29.2 million decrease in commercial real estate loans, a $6.9 million decrease in commercial and industrial loans, and a $27.3 million decrease in residential real estate, offset by a $16.9 million increase in construction and development loans. Loans classified as held for sale totaled $1.4 million, $0, and $5.0 million at June 30, 2026, March 31, 2026, and June 30, 2025, respectively.

Deposits

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, and an increase of $799.9 million, or 29.7%, compared to total deposits of $2.69 billion at June 30, 2025. The decrease in total deposits at June 30, 2026 compared to March 31, 2026 was due to a $38.5 million decrease in time deposits, a $377,000 decrease in savings accounts, $105.2 million decrease in money market accounts and a $16.2 million decrease in noninterest-bearing demand deposits offset by a $23.0 million increase in interest-bearing demand deposits.

Noninterest-bearing deposits were $783.0 million at June 30, 2026, compared to $799.2 million at March 31, 2026 and $548.9 million at June 30, 2025. Noninterest-bearing deposits constituted 22.4% of total deposits at June 30, 2026, compared to 22.0% at March 31, 2026 and 20.4% at June 30, 2025. Interest-bearing deposits were $2.71 billion at June 30, 2026, compared to $2.83 billion at March 31, 2026 and $2.14 billion at June 30, 2025. Interest-bearing deposits constituted 77.6% of total deposits at June 30, 2026, compared to 78.0% at March 31, 2026 and 79.6% at June 30, 2025.

Uninsured deposits were 33.1% of total deposits at June 30, 2026, compared to 31.9% and 25.1% at March 31, 2026 and June 30, 2025, respectively. As of June 30, 2026, we had $1.72 billion available borrowing capacity at the Federal Home Loan Bank ($1.02 billion), Federal Reserve Discount Window ($634.0 million), and various other financial institutions (fed fund lines totaling $67.5 million).

Asset Quality

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. The recovery for credit loss was recorded during the second quarter of 2026 was primarily due to the decrease in reserves mainly due to decreases in loan balances and reserves on individually analyzed loans. Annualized net recovery to average loans for the second quarter of 2026 was 0.01%, compared to net charge-off of 0.03% for the first quarter of 2026 and 0.01% for the second quarter of 2025.

Nonperforming assets totaled $18.7 million, or 0.41% of total assets, at June 30, 2026, an increase of $747,000, from $18.0 million, of 0.38% of total assets, at March 31, 2026, and an increase of $3.5 million from $15.2 million, or 0.42% of total assets, at June 30, 2025. The increase in nonperforming assets at June 30, 2026 compared to March 31, 2026 was due to a $611,000 increase in nonaccrual loans and a $153,000 increase in other real estate owned.

Allowance for credit losses as a percentage of total loans was 0.65% at June 30, 2026, compared to 0.66% at March 31, 2026 and 0.60% at June 30, 2025. Allowance for credit losses as a percentage of nonperforming loans was 148.08% at June 30, 2026, compared to 158.70% and 129.76% at March 31, 2026 and June 30, 2025, respectively.

About MetroCity Bankshares, Inc.

MetroCity Bankshares, Inc. is a Georgia corporation and a registered bank holding company for its wholly owned banking subsidiary, Metro City Bank, which is headquartered in the Atlanta, Georgia metropolitan area. Founded in 2006, Metro City Bank currently operates 27 full-service branch locations and two loan production offices in Alabama, California, Florida, Georgia, New York, New Jersey, Texas, and Virginia. To learn more about Metro City Bank, visit www.metrocitybank.bank.

Forward-Looking Statements

Statements in this press release regarding future events and our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business and markets, constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical in nature and may be identified by references to a future period or periods by the use of the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The

forward-looking statements in this press release should not be relied on because they are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of known and unknown risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, and other factors, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this press release and could cause us to make changes to our future plans. Factors that might cause such differences include, but are not limited to: the impact of current and future economic conditions, particularly those affecting the financial services industry, including the effects of declines in the real estate market, tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment rates, inflationary pressures, increasing insurance costs, changes in interest rates, including changes to the federal funds rate, which could have an adverse effect on the Company’s profitability; impact of changes in interest rates on our financial projections, models and guidance and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; uncertain duration of trade conflicts; magnitude of the impact that the proposed tariffs may have on our customers’ businesses; potential impacts of adverse developments in the banking industry, including impacts on customer confidence, deposits, liquidity and the regulatory response thereto; risks arising from negative media coverage of the banking industry; risks arising from perceived instability in the banking sector; changes in prices, values and sales volumes of residential and commercial real estate; developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; competition in our markets that may result in increased funding costs or reduced earning assets yields, thus reducing margins and net interest income; legislation or regulatory changes which could adversely affect the ability of the consolidated Company to conduct business combinations or new operations; changes in tax laws; significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities; risks associated with the recent merger of First IC with the Company (the “Merger”), including the risk that the cost savings and any revenue synergies may not be realized or take longer than anticipated to be realized as well as disruption with customers, suppliers, employee or other business partners relationships; the risk of successful integration of First IC’s business into the Company; the reaction of each of the Company’s and First IC’s customers, suppliers, employees or other business partners to the Merger; the risk that the integration of First IC’s operations into the operations of the Company will be materially delayed or will be more costly or difficult than expected; the timing and achievement of expected cost reductions following the Merger; the timing and achievement of the recovery of the reduction of tangible book value resulting from the Merger; general competitive, economic, political, and market conditions; the ability to keep pace with technological changes, including changes regarding maintaining cybersecurity and the impact of generative artificial intelligence; increased competition in the financial services industry, particularly from regional and national institutions, as well as fintech companies and other non-bank financial service providers offering digital, automated or alternative financial products and services; the impact of a failure in, or breach of, the Company’s operational or security systems or infrastructure, or those of third parties with whom the Company does business, including as a result of cyber-attacks or an increase in the incidence or severity of fraud, illegal payments, security breaches or other illegal acts impacting the Company or the Company’s customers; the effects of war or other conflicts, including the ongoing conflicts in the Middle East; major political shifts domestically or internationally (including the potential for retaliatory actions by governments, market participants or clients based on diverging perspectives or otherwise and, separately, the recent shutdown of the U.S. federal government); and adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company’s participation in and execution of government programs, those related to credit card interest rates, and legislative, regulatory or supervisory actions related to so‑called “de‑banking,” including any new prohibitions, requirements or enforcement priorities that could affect customer relationships, compliance obligations, or operational practices. Therefore, the Company can give no assurance that the results contemplated in the forward-looking statements will be realized. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in

the sections titled “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q on file with the U.S. Securities and Exchange Commission (the “SEC”), and in other documents that we file with the SEC from time to time, which are available on the SEC’s website, http://www.sec.gov. In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this press release are qualified in their entirety by this cautionary statement.

Contacts

Farid Tan

President and Interim Chief Financial Officer

770-455-4978

faridtan@metrocitybank.bank

Explanation of Certain Unaudited Non-GAAP Financial Measures

This press release contains financial information determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). The measures entitled adjusted return on average shareholder’s equity and tangible book value per share are not measures recognized under GAAP and therefore are considered non-GAAP financial measures. The most comparable GAAP measures are return on average shareholder’s equity and book value per share, respectively. Adjusted return on average shareholder’s equity excludes average accumulated other comprehensive income and merger-related expenses. Tangible book value per share excludes goodwill and core deposit intangibles.

Management uses these non-GAAP financial measures in its analysis of the Company’s performance and believes these presentations provide useful supplemental information, and a clearer understanding of the Company’s performance, and if not provided would be requested by the investor community. The Company believes the non-GAAP measures enhance investors’ understanding of the Company’s business and performance. These measures are also useful in understanding performance trends and facilitate comparisons with the performance of other financial institutions. The limitations associated with operating measures are the risk that persons might disagree as to the appropriateness of items comprising these measures and that different companies might calculate these measures differently. These disclosures should not be considered an alternative to GAAP. The computations of adjusted return on average shareholder’s equity and tangible book value per share and the reconciliation of these measures to return on average shareholder’s equity and book value per share are set forth in the table below.

METROCITY BANKSHARES, INC.

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)

As of or For the Three Months Ended

As of or For the Six Months Ended

(Dollars in thousands)

June 30, 2026

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

June 30, 2026

June 30, 2025

Return on average shareholder's equity reconciliation

Average shareholder’s equity (GAAP)

506,657

494,937

470,299

436,619

428,644

500,829

425,181

Less: average accumulated other comprehensive income

(649)

(1,679)

(3,593)

(5,552)

(8,737)

(1,162)

(10,901)

Adjusted average shareholder’s equity (non-GAAP)

506,008

493,258

466,706

431,067

419,907

499,667

414,280

Net income (GAAP)

22,131

22,314

18,139

17,270

16,826

44,445

33,123

Add: First IC-merger related expenses (net of tax effect)

195

1,238

2,831

222

246

1,433

440

Adjusted net income (non-GAAP)

22,326

23,552

20,970

17,492

17,072

45,878

33,563

Return on average shareholder’s equity (GAAP)

17.52

18.28

15.30

15.69

15.74

17.90

15.71

Adjusted return on average shareholder’s equity (non-GAAP)

17.70

19.36

17.83

16.10

16.31

18.52

16.34

Tangible book value per share reconciliation

Total shareholder's equity (GAAP)

567,854

554,156

544,184

445,888

436,100

567,854

436,100

Less: goodwill and core deposit intangible

(68,039)

(68,357)

(68,675)

—

(68,039)

—

Adjusted total shareholder's equity (non-GAAP)

499,815

485,799

475,509

445,888

436,100

499,815

436,100

Shares of common stock outstanding

28,781,229

28,660,042

28,817,967

25,537,746

28,781,229

25,537,746

Book value per share (GAAP)

19.73

19.34

18.88

17.46

17.08

19.73

17.08

Tangible book value per share (non-GAAP)

17.37

16.95

16.50

17.46

17.08

17.37

17.08

Efficiency Ratio reconciliation

Efficiency ratio (GAAP)

40.08

42.16

46.71

38.65

37.23

41.13

37.76

Impact of First IC-merger related expenses included in noninterest expense

(0.54)

(3.29)

(8.22)

(0.80)

(0.88)

(1.93)

(0.80)

Efficiency ratio-operating (non-GAAP)

39.54

38.87

38.49

37.85

36.35

39.20

36.95

METROCITY BANKSHARES, INC.

As of and for the Three Months Ended

As of and for the Six Months Ended

June 30,

March 31,

December 31,

September 30,

June 30,

(Dollars in thousands, except per share data)

2026

2025

2026

2025

Selected income statement data:

Interest income

70,405

70,990

60,257

54,003

54,049

141,395

106,568

Interest expense

26,364

26,503

24,332

22,211

21,871

52,867

43,836

Net interest income

44,041

44,487

35,925

31,792

32,178

88,528

62,732

Provision for credit losses

(792)

(813)

(39)

(543)

129

(1,605)

264

Noninterest income

5,755

6,357

7,817

6,178

5,733

12,112

11,189

Noninterest expense

19,957

21,438

20,671

14,674

14,113

41,395

27,912

Income tax expense

8,500

7,905

4,971

6,569

6,843

16,405

12,622

Net income

22,131

22,314

18,139

17,270

16,826

44,445

33,123

Per share data:

Basic income per share

0.77

0.78

0.69

0.68

0.66

1.55

1.30

Diluted income per share

0.76

0.77

0.68

0.67

0.65

1.53

1.29

Dividends per share

0.29

0.25

0.23

0.58

0.46

Book value per share (at period end)

19.73

19.34

18.89

17.46

17.08

19.73

17.08

Tangible book value per share (at period end)(1)

17.37

16.95

16.50

17.46

17.08

17.37

17.08

Shares of common stock outstanding

28,781,229

28,660,042

28,817,967

25,537,746

28,781,229

25,537,746

Weighted average diluted shares

28,949,200

29,051,061

26,806,181

25,811,422

25,715,206

28,984,717

25,697,183

Performance ratios:

Return on average assets

1.96

1.80

1.89

1.87

2.01

1.86

Return on average equity

17.52

18.28

15.45

15.69

15.74

17.90

15.71

Adjusted return on average equity (1)

17.70

19.36

17.83

16.10

16.31

18.52

16.34

Dividend payout ratio

32.55

32.49

35.08

37.23

35.01

32.52

35.56

Yield on total loans

6.75

6.74

6.42

6.37

6.49

6.74

6.44

Yield on average earning assets

6.57

6.51

6.26

6.24

6.34

6.54

6.33

Cost of average interest-bearing liabilities

3.36

3.25

3.36

3.42

3.39

3.45

3.43

Cost of interest-bearing deposits

3.24

3.12

3.22

3.28

3.25

3.34

3.30

Net interest margin

4.11

4.08

3.73

3.68

3.77

4.10

3.72

Efficiency ratio(2)

40.08

42.16

46.71

38.65

37.23

41.13

37.76

Efficiency ratio - operating (1)(2)

39.54

38.87

38.49

37.85

36.35

39.20

36.95

Asset quality data (at period end):

Net charge-offs/(recoveries) to average loans held for investment

(0.01)

0.03

(0.00)

0.03

0.01

(0.01)

0.01

Nonperforming assets to gross loans held for investment and OREO

0.47

0.45

0.64

0.47

0.49

0.47

0.49

ACL to nonperforming loans

148.08

158.54

107.48

137.66

129.76

148.08

129.76

ACL to loans held for investment

0.65

0.66

0.68

0.60

0.65

0.60

Balance sheet and capital ratios:

Gross loans held for investment to deposits

114.16

111.12

111.84

110.43

116.34

114.16

116.34

Noninterest bearing deposits to deposits

22.44

22.04

21.42

20.22

20.41

22.44

20.41

Investment securities to assets

0.99

0.96

1.38

0.94

0.93

0.99

0.93

Common equity to assets

11.23

10.52

9.98

12.29

12.06

11.23

12.06

Leverage ratio

12.11

10.47

10.00

12.21

11.91

12.11

11.91

Common equity tier 1 ratio

18.63

16.52

15.90

19.93

19.91

18.63

19.91

Tier 1 risk-based capital ratio

18.63

16.52

15.90

19.93

19.91

18.63

19.91

Total risk-based capital ratio

19.51

17.44

16.84

20.74

20.78

19.51

20.78

Mortgage and SBA loan data:

Mortgage loans serviced for others

463,501

496,552

702,586

538,675

559,112

463,501

559,112

Mortgage loan production

75,373

101,948

111,717

168,562

93,156

177,321

184,278

Mortgage loan sales

—

197,553

18,248

54,309

—

94,360

SBA/USDA loans serviced for others

682,172

699,028

685,481

460,720

480,867

682,172

480,867

SBA loan production

46,588

20,816

32,575

17,727

29,337

67,404

49,749

SBA loan sales

27,140

19,733

9,792

13,415

20,707

46,873

37,286

(1) Non-GAAP measure, see “Explanation of Certain Unaudited Non-GAAP Financial Measures” for more information and for a reconciliation to GAAP.

(2) Represents noninterest expense divided by the sum of net interest income plus noninterest income.

METROCITY BANKSHARES, INC.

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

As of the Quarter Ended

June 30,

March 31,

December 31,

September 30,

June 30,

(Dollars in thousands)

2026

2025

ASSETS

Cash and due from banks

254,368

373,956

370,832

213,941

273,596

Federal funds sold

12,322

13,645

12,844

13,217

12,415

Cash and cash equivalents

266,690

387,601

383,676

227,158

286,011

Equity securities

18,481

18,564

18,646

18,605

18,481

Securities available for sale (at fair value)

26,183

26,616

47,179

15,365

15,030

Loans held for investment

3,956,319

4,001,114

4,051,397

2,966,859

3,121,534

Allowance for credit losses

(25,818)

(26,700)

(27,843)

(17,940)

(18,748)

Loans less allowance for credit losses

3,930,501

3,974,414

4,023,554

2,948,919

3,102,786

Loans held for sale

1,350

—

9,741

231,259

4,988

Accrued interest receivable

20,115

20,299

20,298

16,912

16,528

Federal Home Loan Bank stock

21,112

23,487

27,565

22,693

Premises and equipment, net

29,619

29,633

29,879

17,836

17,872

Operating lease right-of-use asset

14,040

14,412

15,193

7,712

8,197

Foreclosed real estate, net

1,300

1,147

208

919

744

SBA servicing asset, net

11,180

11,267

10,601

6,988

6,823

Mortgage servicing asset, net

1,308

1,484

1,660

1,662

1,676

Bank owned life insurance

77,066

76,424

75,786

75,148

74,520

Goodwill

56,048

—

Core deposit intangible

11,991

12,309

12,627

—

Interest rate derivatives

4,791

4,970

6,343

9,435

12,656

Other assets

28,179

29,672

29,396

28,852

26,683

Total assets

4,519,954

4,688,347

4,768,400

3,629,463

3,615,688

LIABILITIES

Noninterest-bearing deposits

782,972

799,190

780,828

544,439

548,906

Interest-bearing deposits

2,706,385

2,827,484

2,865,173

2,148,645

2,140,587

Total deposits

3,489,357

3,626,674

3,646,001

2,693,084

2,689,493

Federal Home Loan Bank advances

375,000

425,000

510,000

425,000

Operating lease liability

14,131

14,516

15,306

7,704

8,222

Accrued interest payable

7,537

10,200

10,731

3,567

3,438

Other liabilities

66,075

57,801

42,178

54,220

53,435

Total liabilities

3,952,100

4,134,191

4,224,216

3,183,575

3,179,588

SHAREHOLDERS' EQUITY

Preferred stock

—

Common stock

288

286

1,159

255

Additional paid-in capital

136,123

135,531

138,675

51,151

50,212

Retained earnings

431,518

417,750

402,684

390,971

380,046

Accumulated other comprehensive income

(75)

589

1,666

3,511

5,587

Total shareholders' equity

567,854

554,156

544,184

445,888

436,100

Total liabilities and shareholders' equity

4,519,954

4,688,347

4,768,400

3,629,463

3,615,688

METROCITY BANKSHARES, INC.

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

Three Months Ended

Six Months Ended

June 30,

March 31,

December 31,

September 30,

June 30,

(Dollars in thousands)

2026

2025

2026

2025

Interest and dividend income:

Loans, including fees

67,312

67,139

57,335

50,975

50,936

134,451

101,189

Other investment income

2,972

3,730

2,790

2,884

2,970

6,702

5,096

Federal funds sold

121

132

144

143

242

283

Total interest income

70,405

70,990

60,257

54,003

54,049

141,395

106,568

Interest expense:

Deposits

22,140

22,077

19,623

17,799

17,496

44,217

35,473

FHLB advances and other borrowings

4,224

4,426

4,709

4,412

4,375

8,650

8,363

Total interest expense

26,364

26,503

24,332

22,211

21,871

52,867

43,836

Net interest income

44,041

44,487

35,925

31,792

32,178

88,528

62,732

Provision (recovery) for credit losses

(792)

(813)

(39)

(543)

129

(1,605)

264

Net interest income after provision for loan losses

44,833

45,300

35,964

32,335

32,049

90,133

62,468

Noninterest income:

Service charges on deposit accounts

958

848

772

551

505

1,806

1,005

Other service charges, commissions and fees

1,428

1,581

1,748

2,376

1,620

3,009

3,216

Gain on sale of residential mortgage loans

—

2,808

166

579

—

978

Mortgage servicing income, net

271

306

504

516

781

577

1,399

Gain on sale of SBA loans

1,536

1,045

463

558

643

2,581

1,301

SBA servicing income, net

728

1,905

800

1,203

642

2,633

1,555

Other income

834

672

722

808

963

1,506

1,735

Total noninterest income

5,755

6,357

7,817

6,178

5,733

12,112

11,189

Noninterest expense:

Salaries and employee benefits

11,344

11,501

10,674

8,953

8,554

22,845

17,047

Occupancy and equipment

2,328

2,434

1,581

1,410

1,380

4,762

2,797

Data Processing

535

682

466

394

329

1,217

674

Advertising

178

223

180

161

149

401

316

Merger-related expenses

270

1,676

3,833

301

333

1,946

595

Other expenses

5,302

4,922

3,937

3,455

3,368

10,224

6,483

Total noninterest expense

19,957

21,438

20,671

14,674

14,113

41,395

27,912

Income before provision for income taxes

30,631

30,219

23,110

23,839

23,669

60,850

45,745

Provision for income taxes

8,500

7,905

4,971

6,569

6,843

16,405

12,622

Net income available to common shareholders

22,131

22,314

18,139

17,270

16,826

44,445

33,123

METROCITY BANKSHARES, INC.

QTD AVERAGE BALANCES AND YIELDS/RATES

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Average

Interest and

Yield /

Average

Interest and

Yield /

Average

Interest and

Yield /

(Dollars in thousands)

Balance

Fees

Rate

Balance

Fees

Rate

Balance

Fees

Rate

Earning Assets:

Federal funds sold and other investments(1)

250,992

2,320

3.71

318,318

3,329

4.24

231,803

2,848

4.93

Investment securities

47,970

773

6.46

61,169

522

3.46

37,040

265

2.87

Total investments

298,962

3,093

4.15

379,487

3,851

4.12

268,843

3,113

4.64

Construction and development

58,374

1,059

7.28

43,100

794

7.47

28,283

580

8.23

Commercial real estate

1,454,209

29,466

8.13

1,290,296

29,836

9.38

807,897

17,612

8.74

Commercial and industrial

88,982

2,166

9.76

86,547

1,572

7.37

71,274

1,544

8.69

Residential real estate

2,395,849

34,610

5.79

2,619,786

34,922

5.41

2,242,456

31,137

5.57

Consumer and other

636

6.94

847

7.18

365

69.23

Gross loans(2)

3,998,050

67,312

6.75

4,040,576

67,139

6.74

3,150,275

50,936

6.49

Total earning assets

4,297,012

70,405

6.57

4,420,063

70,990

6.51

3,419,118

54,049

6.34

Noninterest-earning assets

230,581

202,774

199,302

Total assets

4,527,593

4,622,837

3,618,420

Interest-bearing liabilities:

NOW and savings deposits

278,175

1,579

2.28

272,645

1,552

2.31

162,810

1,089

2.68

Money market deposits

1,112,349

8,324

3.00

1,175,909

7,506

2.59

1,032,754

6,815

2.65

Time deposits

1,349,972

12,237

3.64

1,417,623

13,019

3.72

966,678

9,592

3.98

Total interest-bearing deposits

2,740,496

22,140

3.24

2,866,177

22,077

3.12

2,162,242

17,496

3.25

Borrowings

410,165

4,224

4.13

436,344

4,426

4.11

426,173

4,375

4.12

Total interest-bearing liabilities

3,150,661

26,364

3.36

3,302,521

26,503

3.25

2,588,415

21,871

3.39

Noninterest-bearing liabilities:

Noninterest-bearing deposits

779,925

774,905

529,130

Other noninterest-bearing liabilities

90,350

50,474

72,231

Total noninterest-bearing liabilities

870,275

825,379

601,361

Shareholders' equity

506,657

494,937

428,644

Total liabilities and shareholders' equity

4,527,593

4,622,837

3,618,420

Net interest income

44,041

44,487

32,178

Net interest spread

3.21

3.26

2.95

Net interest margin

4.11

4.08

3.77

(1)

Includes income and average balances for term federal funds sold, interest-earning cash accounts and other miscellaneous interest-earning assets.

(2)

Average loan balances include nonaccrual loans and loans held for sale.

METROCITY BANKSHARES, INC.

YTD AVERAGE BALANCES AND YIELDS/RATES

Six Months Ended

June 30, 2026

June 30, 2025

Average

Interest and

Yield /

Average

Interest and

Yield /

(Dollars in thousands)

Balance

Fees

Rate

Balance

Fees

Rate

Earning Assets:

Federal funds sold and other investments(1)

284,469

5,201

3.69

$ 195,840

4,946

5.09

Investment securities

54,533

1,743

6.45

34,551

433

2.53

Total investments

339,002

6,944

4.13

230,391

5,379

4.71

Construction and development

50,779

1,853

7.36

25,816

1,060

8.28

Commercial real estate

1,373,705

59,302

8.71

793,968

33,769

8.58

Commercial and industrial

87,771

3,738

8.59

72,032

3,132

8.77

Residential real estate

2,507,199

69,530

5.59

2,275,082

63,123

5.60

Consumer and other

741

7.62

321

105

65.96

Gross loans(2)

4,020,195

134,451

6.74

3,167,219

101,189

6.44

Total earning assets

4,359,197

141,395

6.54

3,397,610

106,568

6.33

Noninterest-earning assets

97,725

198,293

Total assets

4,456,922

3,595,903

Interest-bearing liabilities:

NOW and savings deposits

275,425

3,131

2.29

158,300

2,040

2.60

Money market deposits

1,011,090

15,830

3.16

1,021,674

13,137

2.59

Time deposits

1,383,610

25,256

3.68

986,567

20,296

4.15

Total interest-bearing deposits

2,670,125

44,217

3.34

2,166,541

35,473

3.30

Borrowings

423,182

8,650

4.12

408,186

8,363

4.13

Total interest-bearing liabilities

3,093,307

52,867

3.45

2,574,727

43,836

3.43

Noninterest-bearing liabilities:

Noninterest-bearing deposits

777,429

524,155

Other noninterest-bearing liabilities

85,357

71,840

Total noninterest-bearing liabilities

862,786

595,995

Shareholders' equity

500,829

425,181

Total liabilities and shareholders' equity

4,456,922

3,595,903

Net interest income

88,528

62,732

Net interest spread

3.09

2.90

Net interest margin

4.10

3.72

(1)

Includes income and average balances for term federal funds sold, interest-earning cash accounts and other miscellaneous interest-earning assets.

(2)

Average loan balances include nonaccrual loans and loans held for sale.

METROCITY BANKSHARES, INC.

LOAN DATA

As of the Quarter Ended

June 30, 2026

March 31, 2026

December 31, 2025

September 30, 2025

June 30, 2025

% of

(Dollars in thousands)

Amount

Total

Amount

Total

Amount

Total

Amount

Total

Amount

Total

Construction and development

69,348

1.7

52,452

1.3

41,797

1.0

32,415

1.1

30,149

1.0

Commercial real estate

1,463,460

36.7

1,492,703

37.0

1,560,728

38.3

814,464

27.4

803,384

25.7

Commercial and industrial

84,999

2.1

91,877

2.3

96,360

2.4

69,430

2.3

73,832

2.3

Residential real estate

2,365,132

59.5

2,392,444

59.4

2,378,311

58.3

2,057,281

69.2

2,221,316

71.0

Consumer and other

600

—

643

—

627

—

325

—

200

—

Gross loans held for investment

3,983,539

100.0

4,030,119

100.0

4,077,822

100.0

2,973,915

100.0

3,128,881

100.0

Unearned income

(9,660)

(10,093)

(6,621)

(7,056)

(7,347)

Loan discounts

(17,560)

(18,912)

(19,804)

—

Allowance for credit losses

(25,818)

(26,700)

(27,843)

(17,940)

(18,748)

Net loans held for investment

3,930,501

3,974,414

4,023,554

2,948,919

3,102,786

METROCITY BANKSHARES, INC.

NONPERFORMING ASSETS

As of the Quarter Ended

June 30,

March 31,

December 31,

September 30,

June 30,

(Dollars in thousands)

2026

2025

Nonaccrual loans

17,435

16,824

25,906

13,032

14,448

Past due loans 90 days or more and still accruing

—

Total non-performing loans

17,435

16,841

25,906

13,032

14,448

Other real estate owned

1,300

1,147

208

919

744

Total non-performing assets

18,735

17,988

26,114

13,951

15,192

Nonperforming loans to gross loans held for investment

0.44

0.42

0.64

0.44

0.46

Nonperforming assets to total assets

0.41

0.38

0.55

0.38

0.42

Allowance for credit losses to non-performing loans

148.08

158.54

107.48

137.66

129.76

METROCITY BANKSHARES, INC.

ALLOWANCE FOR LOAN LOSSES

As of and for the Three Months Ended

As of and for the Six Months Ended

June 30,

March 31,

December 31,

September 30,

June 30,

(Dollars in thousands)

2026

2025

2026

2025

Balance, beginning of period

26,700

27,843

17,940

18,748

18,592

18,744

18,112

First IC Day 1 ACL balance

—

9,885

—

9,885

—

Net charge-offs/(recoveries):

Construction and development

—

Commercial real estate

(96)

185

(1)

110

170

(83)

Commercial and industrial

(3)

(5)

117

(2)

280

119

Residential real estate

—

Consumer and other

—

Total net charge-offs/(recoveries)

(99)

274

(6)

227

450

Provision (recovery) for loan losses

(981)

(869)

(581)

216

(336)

668

Balance, end of period

25,818

26,700

27,843

17,940

18,748

27,843

18,744

Total loans at end of period(1)

3,983,539

4,030,119

4,077,822

2,973,915

3,128,881

4,077,822

3,165,316

Average loans(1)

3,997,375

4,035,706

3,441,913

3,124,291

3,130,515

3,202,087

3,125,389

Net charge-offs/(recoveries) to average loans

(0.01)

0.03

(0.00)

0.03

0.01

0.00

Allowance for loan losses to total loans

0.65

0.66

0.68

0.60

0.68

0.59

(1)

Excludes loans held for sale.

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v3.26.1

Document and Entity Information

Jul. 24, 2026

Document and Entity Information [Abstract]

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Document Period End Date

Jul. 24, 2026

Entity Registrant Name

METROCITY BANKSHARES, INC.

Entity File Number

001-39068

Entity Incorporation, State or Country Code

Entity Tax Identification Number

47-2528408

Entity Address, Address Line One

5114 Buford Highway

Entity Address, City or Town

Doraville

Entity Address, State or Province

Entity Address, Postal Zip Code

30340

City Area Code

770

Local Phone Number

455-4989

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