MetroCity Bankshares, Inc. (NASDAQ: MCBS) reported net income of $24.3 million, or $0.84 per diluted share, for the third quarter of 2026. This figure represents a 9.8% increase from the $22.1 million, or $0.76 per diluted share, reported in the second quarter of 2026. Compared to the third quarter of 2025, net income rose by 40.7% from $17.3 million, or $0.67 per diluted share.
For the nine months ended September 30, 2026, the company recorded net income of $68.7 million, or $2.37 per diluted share. This is an increase of 36.4% from the $50.4 million, or $1.96 per diluted share, generated during the same period in 2025.
The company reported the following financial metrics for the third quarter of 2026:
- Return on average assets: 2.12%
- Return on average equity: 16.97%
- Adjusted return on average shareholders’ equity: 17.04%
- Efficiency ratio: 41.81%
- Operating efficiency ratio: 41.56%
- Net interest margin: 4.07%
Net interest income for the third quarter was $43.5 million, a decrease of $483,000 from the previous quarter. Interest income totaled $69.7 million, down $678,000 from the second quarter, primarily due to a $56.2 million decrease in average gross loans. Interest expense was $26.2 million, a decrease of $195,000 from the prior quarter.
Noninterest income for the third quarter was $4.4 million, a decrease of $1.4 million, or 23.8%, from the second quarter. This decline was primarily attributed to lower gains on the sale of Small Business Administration (SBA) loans and a decrease in the fair value of equity securities. SBA loan sales totaled $9.7 million during the quarter, compared to $27.1 million in the second quarter.
Noninterest expense for the third quarter was $20.0 million, an increase of $87,000 from the second quarter. The company noted increases in salaries and employee benefits, advertising, occupancy, and equipment expenses, partially offset by a decrease in merger-related expenses.
The company’s effective tax rate for the third quarter of 2026 was 13.1%, compared to 27.7% in the second quarter of 2026. The decrease was primarily driven by the utilization of tax credits during the current period.
At September 30, 2026, total assets stood at $4.60 billion, an increase of $77.9 million from June 30, 2026, and an increase of $968.4 million from September 30, 2025. The growth from the prior year was primarily attributed to the acquisition of First IC Corporation, completed in the fourth quarter of 2025, which resulted in increases in gross loans, goodwill, and core deposit intangibles.
