MetroCity Bankshares(US:MCBS)2026-01-30 14:57Financial Performance - Net income for Q4 2025 was $18.3 million, a 6.0% increase from Q3 2025 and a 12.8% increase from Q4 2024[6]. - For the year ended December 31, 2025, net income was $68.7 million, a 6.5% increase from 2024[7]. - Net income available to common shareholders for the year ended December 31, 2025, was $68,705 thousand, up from $64,504 thousand in 2024, marking a 5.4% increase[51]. - Basic income per share for Q4 2025 was $0.69, compared to $0.68 in Q3 2025, showing a growth of 1.5%[45]. - The company reported a net interest income of $130,449 thousand for the year ended December 31, 2025, compared to $118,146 thousand for the previous year[57]. Loan and Deposit Growth - Total loans held for investment increased by $1.1 billion, or 36.6%, to $4.1 billion from Q3 2025[4]. - Loans held for investment rose to $4.05 billion at December 31, 2025, an increase of $1.08 billion, or 36.6%, compared to $2.97 billion at September 30, 2025[25]. - Total deposits increased by $952.9 million, or 35.4%, to $3.65 billion from Q3 2025[4]. - Total deposits reached $3.65 billion at December 31, 2025, an increase of $952.9 million, or 35.4%, from $2.69 billion at September 30, 2025[26]. - Average loans for the current period were $3,441,913,000, up from $3,125,389,000 in the previous year, showing growth in lending activity[65]. Noninterest Income and Expenses - Noninterest income for Q4 2025 was $7.8 million, a 26.5% increase from Q3 2025 and a 46.9% increase from Q4 2024[13][14]. - Noninterest expense for Q4 2025 totaled $20.4 million, a 39.3% increase from Q3 2025 and a 42.6% increase from Q4 2024[17][18]. - Total noninterest expense for the year ended December 31, 2025, was $63,020 thousand, compared to $53,379 thousand in 2024, indicating a rise of 17.9%[51]. Asset Growth - Total assets increased to $4.8 billion at December 31, 2025, up $1.14 billion, or 31.4%, from $3.63 billion at September 30, 2025[23]. - Total assets increased to $4,768,395 thousand as of December 31, 2025, up from $3,594,045 thousand a year earlier, representing a growth of 32.7%[49]. - Total liabilities increased to $4,224,038 thousand as of December 31, 2025, from $3,172,692 thousand a year earlier, a rise of 33.2%[49]. Credit Quality and Allowance for Losses - The allowance for credit losses as a percentage of total loans was 0.68% at December 31, 2025, up from 0.60% at September 30, 2025[33]. - Nonperforming assets totaled $26.1 million at December 31, 2025, or 0.55% of total assets, an increase from $14.0 million, or 0.38%, at September 30, 2025[32]. - The company recorded a credit provision for credit losses of $39,000 during Q4 2025, down from $543,000 in Q3 2025[30]. - The allowance for credit losses was $27,843 thousand as of December 31, 2025, compared to $18,744 thousand a year prior, indicating a proactive approach to risk management[49]. - The provision for loan losses was $12,000, a decrease from $(336,000) in the previous year, reflecting improved credit quality[65]. Efficiency and Ratios - The efficiency ratio was 46.7% for Q4 2025, compared to 38.7% for Q3 2025 and 40.5% for Q4 2024[20]. - The total risk-based capital ratio stood at 16.84% in Q4 2025, down from 20.74% in Q3 2025, reflecting a decrease in capital adequacy[45]. - The company reported a return on average assets of 1.80% for Q4 2025, slightly down from 1.89% in Q3 2025[45]. - The average yield on earning assets was 6.26% for the quarter ended December 31, 2025, compared to 6.24% in the previous quarter[53]. Mergers and Acquisitions - The acquisition of First IC Corporation was completed on December 1, 2025, enhancing competitive position and financial flexibility[5]. - The estimated Day 1 allowance for credit losses for loans acquired from First IC was $9.9 million[31].