MetroCity Bankshares, Inc. (MCBS)

MetroCity Bankshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	198.35	181.88	142.82	107.85	75.87	79.34
Interest Income on Investments	12.62	10.94	4.41	0.89	1.74	3.88
Total Interest Income	210.97	192.83	147.22	108.74	77.61	83.21
Interest Paid on Deposits	83.13	80.61	23.56	3.95	10.92	21.95
Interest Paid on Borrowings	13.63	10.74	4.05	0.62	0.57	0.29
Total Interest Expense	96.76	91.35	27.61	4.57	11.49	22.24
Net Interest Income	114.21	101.48	119.61	104.17	66.12	60.98
Net Interest Income Growth (YoY)	9.49%	-15.16%	14.82%	57.55%	8.44%	4.76%
Mortgage Banking Activities	1.8	-0.19	-0.72	-1.04	1.31	9.29
Other Non-Interest Income	14.54	13.18	12.6	21.61	15.6	14.56
Total Non-Interest Income	22.45	18.2	17.96	33.21	27.21	39.9
Non-Interest Income Growth (YoY)	48.37%	1.39%	-45.94%	22.05%	-31.80%	5.98%
Revenues Before Loan Losses	136.66	119.68	137.57	137.38	93.33	100.87
Provision for Loan Losses	1.1	-0.02	-2.77	6.93	3.47	-
Revenue	135.57	119.7	140.33	130.45	89.86	100.87
Revenue Growth (YoY)	11.66%	-14.70%	7.58%	45.16%	-10.91%	6.61%
Salaries and Employee Benefits	30.28	26.88	28.57	28.69	23.68	23.4
Occupancy Expenses	3.11	2.72	2.7	2.68	2.7	2.39
Selling, General & Administrative	6.89	6.43	5.79	5.41	5.85	5.56
Other Non-Interest Expense	13.11	11.69	12.22	11.53	8.87	8.65
Total Non-Interest Expense	52.97	47.73	49.28	48.31	41.1	40
EBT Excluding Unusual Items	82.6	71.97	91.05	82.14	48.76	60.87
Asset Writedown	-	-	0.16	0.48	-	-
Pretax Income	82.6	71.97	91.22	82.62	48.76	60.87
Income Tax Expense	22.98	20.36	28.62	20.92	12.37	16.15
Net Income	59.62	51.61	62.6	61.7	36.39	44.72
Net Income to Common	59.62	51.61	62.6	61.7	36.39	44.72
Net Income Growth	18.18%	-17.55%	1.46%	69.54%	-18.61%	8.19%
Basic Shares Outstanding	25	25	25	26	26	25
Diluted Shares Outstanding	26	26	26	26	26	25
Shares Change (YoY)	0.22%	-0.66%	-0.39%	-0.04%	4.32%	1.04%
EPS (Basic)	2.36	2.05	2.46	2.41	1.42	1.82
EPS (Diluted)	2.33	2.02	2.44	2.39	1.41	1.81
EPS Growth	17.79%	-17.21%	2.09%	69.50%	-22.10%	7.10%
Dividend Per Share	0.780	0.720	0.600	0.460	0.400	0.420
Dividend Growth	13.04%	20.00%	30.43%	15.00%	-4.76%	10.53%
Effective Tax Rate	27.82%	28.29%	31.37%	25.32%	25.37%	26.53%

Source: S&P Capital IQ. Banks template. Financial Sources.