MetroCity Bankshares Files 8-K on Financial Condition
Ticker: MCBS · Form: 8-K · Filed: Jan 23, 2024 · CIK: 1747068
| Field | Detail |
|---|---|
| Company | Metrocity Bankshares, Inc. (MCBS) |
| Form Type | 8-K |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: financial-condition, results-of-operations, 8-K
TL;DR
**MetroCity Bankshares just dropped an 8-K on its financials, time to check the numbers.**
AI Summary
MetroCity Bankshares, Inc. filed an 8-K on January 23, 2024, to report on its results of operations and financial condition. This filing indicates that the company is providing an update on its financial performance, which is crucial for investors to understand the bank's health and profitability. For shareholders or potential buyers, this matters because it offers transparency into the company's current financial standing, helping them assess the value and risk associated with their investment in MCBS.
Why It Matters
This filing provides investors with the latest financial performance data, enabling them to make informed decisions about buying, holding, or selling MetroCity Bankshares stock.
Risk Assessment
Risk Level: low — This 8-K is a routine disclosure of financial information, not indicating any immediate new risks but rather providing transparency.
Analyst Insight
Investors should review the detailed financial statements and results of operations that will be attached to this 8-K to understand the current health and future prospects of MetroCity Bankshares, Inc. before making any investment decisions.
Key Players & Entities
- MetroCity Bankshares, Inc. (company) — the registrant filing the 8-K
- January 23, 2024 (date) — date of earliest event reported and filing date
- MCBS (company) — trading symbol for MetroCity Bankshares, Inc.
- The Nasdaq Stock Market LLC (company) — exchange where MCBS Common Stock is registered
- $0.01 (dollar_amount) — par value per share of Common Stock
FAQ
What is the purpose of this 8-K filing by MetroCity Bankshares, Inc.?
The purpose of this 8-K filing, dated January 23, 2024, is to report on the company's "Results of Operations and Financial Condition" and to include "Financial Statements and Exhibits" as per Item Information.
What is the trading symbol and the exchange where MetroCity Bankshares, Inc. common stock is registered?
The trading symbol for MetroCity Bankshares, Inc. is MCBS, and its Common Stock, with a par value of $0.01 per share, is registered on The Nasdaq Stock Market LLC.
What is the business address and phone number of MetroCity Bankshares, Inc.?
The business address of MetroCity Bankshares, Inc. is 5114 Buford Highway, Doraville, Georgia 30340, and its business phone number is (770) 455-4989.
What is the state of incorporation and IRS Employer Identification Number for MetroCity Bankshares, Inc.?
MetroCity Bankshares, Inc. is incorporated in Georgia, and its I.R.S. Employer Identification No. is 47-2528408.
Is MetroCity Bankshares, Inc. considered an emerging growth company according to this filing?
The filing includes a checkbox to indicate whether the registrant is an emerging growth company, but the box is not checked, implying that MetroCity Bankshares, Inc. does not identify itself as an emerging growth company as defined by Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Filing Stats: 529 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-01-23 09:32:26
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share MCBS The Nasdaq Stock Mar
Filing Documents
- mcbs-20240123x8k.htm (8-K) — 38KB
- mcbs-20240123xex99d1.htm (EX-99.1) — 1311KB
- mcbs-20240123xex99d1001.jpg (GRAPHIC) — 7KB
- 0001747068-24-000007.txt ( ) — 1527KB
- mcbs-20240123.xsd (EX-101.SCH) — 3KB
- mcbs-20240123_lab.xml (EX-101.LAB) — 16KB
- mcbs-20240123_pre.xml (EX-101.PRE) — 10KB
- mcbs-20240123x8k_htm.xml (XML) — 5KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition On January 23, 2024, MetroCity Bankshares, Inc. (the "Company") issued a press release announcing its results of operations and financial condition for the fourth quarter and year ended December 31, 2023. A copy of the press release covering such announcement is attached hereto as Exhibit 99.1 and incorporated by reference herein. In accordance with General Instruction B.2 of Form 8-K, the information furnished in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing or document.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 MetroCity Bankshares, Inc. Earnings Press Release dated January 23, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. METROCITY BANKSHARES, INC. Date: January 23, 2024 By: /s/ Lucas Stewart Lucas Stewart Chief Financial Officer