MetroCity Bankshares Q2 Profit Rises 29%

(RTTNews) - MetroCity Bankshares, Inc. (MCBS), holding company for Metro City Bank, reported Friday that net income for the second quarter grew to $16.94 million or $0.66 per share from $13.11 million or $0.51 per share in the prior-year quarter.

Net interest income increased to $30.71 million from $24.97 million a year ago, and noninterest income grew to $5.56 million from $4.69 million last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.59 per share on revenues of $34.1 million for the quarter. Analysts' estimates typically exclude special items.

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