MCBS

EX-99.1

2 mcbs-ex99d1.htm

EX-99.1

Exhibit 99.1

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FOR IMMEDIATE RELEASE

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METROCITY BANKSHARES, INC. REPORTS EARNINGS FOR THIRD QUARTER 2026

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ATLANTA, GA (October 23, 2026) – MetroCity Bankshares, Inc. (“MetroCity” or the “Company”) (NASDAQ: MCBS), holding company for Metro City Bank (the “Bank”), today reported net income of $24.3 million, or $0.84 per diluted share, for the third quarter of 2026, compared to $22.1 million, or $0.76 per diluted share, for the second quarter of 2026, and $17.3 million, or $0.67 per diluted share, for the third quarter of 2025. For the nine months ended September 30, 2026, the Company reported net income of $68.7 million or $2.37 per diluted share, compared to $50.4 million, or $1.96 per diluted share, for the same period in 2025.

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Third Quarter 2026 Highlights:

●Annualized return on average assets was 2.12% compared to 1.96% for the second quarter of 2026 and 1.89% for the third quarter of 2025.

●Annualized return on average equity was 16.97%, compared to 16.01% for the second quarter of 2026 and 15.69% for the third quarter of 2025. Adjusted return on average shareholders’ equity1, which excluded average accumulated other comprehensive income and merger-related expenses, was 17.04% for the third quarter of 2026, compared to 16.17% for the second quarter of 2026, and 16.10% for the third quarter of 2025.

●Efficiency ratio was 41.81%, compared to 40.08% for the second quarter of 2026 and 38.65% for the third quarter of 2025. Operating efficiency ratio1 was 41.56%, compared to 39.54% for the second quarter of 2026 and 37.85% for the third quarter of 2025.

●Net interest margin was 4.07%, compared to 4.11% for the second quarter of 2026 and 3.68% for the third quarter of 2025.

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Year-to-Date 2026 Highlights:

●Return on average assets increased to 1.99% for the nine months ended September 30, 2026, compared to 1.87% for the same period in 2025.

●Return on average equity increased to 16.54% for the nine months ended September 30, 2026, compared to 15.70% for the same period in 2025. Adjusted return on average shareholders’ equity1, which, excluded average accumulated other comprehensive income and merger-related expenses, was 16.93% for the nine months ended September 30, 2026, compared to 16.25% for the same period in 2025.

●Efficiency ratio increased to 41.35% for the nine months ended September 30, 2026, compared to 38.06% for the same period in 2025.

●Net interest margin increased by 38 basis points to 4.09% for the nine months ended September 30, 2026, compared to 3.71% for the same period in 2025.

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

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Results of Operations

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Net Income

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Net income was $24.3 million for the third quarter of 2026, an increase of $2.2 million, or 9.8%, from $22.1 million for the second quarter of 2026. The increase primarily reflected a $4.8 million decrease in income tax expense, including a $4.0 million tax credit benefit, partially offset by a $1.4 million decrease in noninterest income, a $720,000 reduction in the recovery for credit losses, a $483,000 decrease in net interest income, and an $87,000 increase in noninterest expense.  Net income increased by $7.0 million, or 40.7%, compared to $17.3 million for third quarter of 2025.  The year-over-year increase reflected the acquisition of First IC Corporation (“First IC”) in the fourth quarter of 2025 and was primarily attributable to a $15.7 million increase in interest income and a decrease in a $2.9 million increase in income tax, offset by a $4.0 million increase in interest expense, a $5.4 million increase in noninterest expenses, a $1.8 million decrease in noninterest income, and a $471,000 reduction in the recovery for credit losses.

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Net income was $68.7 million for the nine months ended September 30, 2026, an increase of $18.4 million, or 36.4%, from $50.4 million for same period in 2025. The increase reflected the First IC acquisition in the fourth quarter of 2025, and was primarily attributable to a $37.6 million increase in net interest income and a $1.4 million increase in recovery of credit losses, partially offset by a $18.9 million increase in noninterest expense, an $871,000 decrease in noninterest income and an $885,000 increase in income tax expense.

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Net Interest Income and Net Interest Margin

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Interest income totaled $69.7 million for the third quarter of 2026, down $678,000, or 1.0%, from the previous quarter, primarily due to a $56.2 million decrease in average gross loans. Compared with the third quarter of 2025, interest income increased by $15.7 million, or 29.1%, primarily due to a $766.9 million increase in the average balance of gross loans, a $44.8 million increase in the average balance of investments, and a 33-basis-point increase in loan yield.

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Interest expense totaled $26.2 million for the t

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