Metrocity Bankshares, Inc. has reported its earnings for the second quarter of 2025, with a net income of $16.8 million, or $0.65 per diluted share. This represents an increase from the first quarter of 2025, which reported a net income of $16.3 million, or $0.63 per diluted share. However, it is a slight decrease from the second quarter of 2024, which reported a net income of $16.9 million, or $0.66 per diluted share.
The annualized return on average assets for the second quarter of 2025 was 1.87%, compared to 1.85% for the first quarter of 2025 and 1.89% for the second quarter of 2024. The annualized return on average equity was 15.74%, compared to 15.67% for the first quarter of 2025 and 17.10% for the second quarter of 2024. Excluding average accumulated other comprehensive income, the return on average equity was 16.07% for the second quarter of 2025, compared to 16.18% for the first quarter of 2025 and 18.26% for the second quarter of 2024.
The efficiency ratio for the second quarter of 2025 was 37.2%, compared to 38.3% for the first quarter of 2025 and 35.9% for the second quarter of 2024. The net interest margin was 3.77%, an increase from 3.67% for the first quarter of 2025 and 3.66% for the second quarter of 2024.
For the six months ended June 30, 2025, the company reported a net income of $33.1 million, or $1.29 per diluted share, compared to $31.6 million, or $1.24 per diluted share, for the same period in 2024.
The company's total assets were $3.62 billion at June 30, 2025, a decrease of $44.0 million from March 31, 2025, and an increase of $318,000 from June 30, 2024. Total deposits were $2.69 billion at June 30, 2025, a decrease of $47.5 million from March 31, 2025, and a decrease of $56.4 million from June 30, 2024.
In terms of loans, loans held for investment were $3.12 billion at June 30, 2025, a decrease of $11.0 million from March 31, 2025, and an increase of $31.0 million from June 30, 2024.
Noninterest income for the second quarter of 2025 was $5.7 million, an increase of $277,000, or 5.1%, from the first quarter of 2025. However, this represents a decrease of $174,000, or 3.1%, compared to the second quarter of 2024.
On July 15, 2025, Metrocity announced that it had received all required regulatory approvals and non-objections to complete its merger with First IC Corporation, the parent company of First IC Bank, which is expected to be completed early in the fourth quarter of 2025. As a result of these announcements, the company's shares have moved -0.07% on the market, and are now trading at a price of $29.30. For more information, read the company's full 8-K submission here.
