MetroCity Bankshares Files 8-K

TL;DR

MCBS filed an 8-K on 10/16/24 - standard report, no specifics yet.

AI Summary

MetroCity Bankshares, Inc. filed an 8-K on October 16, 2024, reporting other events and financial statements. The filing does not contain specific financial figures or details about the nature of the 'other events' beyond its classification as a current report.

Why It Matters

This 8-K filing indicates that MetroCity Bankshares, Inc. has submitted a current report to the SEC, which may contain important updates for investors.

Risk Assessment

Risk Level: low — The filing is a standard 8-K current report and does not contain information that inherently increases risk.

Key Players & Entities

• MetroCity Bankshares, Inc. (company) — Registrant
• Georgia (location) — State of incorporation
• 47-2528408 (other) — I.R.S. Employer Identification No.
• 5114 Buford Highway (location) — Principal executive offices address
• Doraville (location) — City of principal executive offices
• 30340 (other) — ZIP code of principal executive offices
• 770-455-4989 (other) — Registrant's telephone number
• October 16, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share MCBS The Nasdaq Stock Mar
• $0.23 — aration of a quarterly cash dividend of $0.23 per share on its common stock. This div

Filing Documents

• mcbs-20241016x8k.htm (8-K) — 39KB
• mcbs-20241016xex99d1.htm (EX-99.1) — 9KB
• mcbs-20241016xex99d1001.jpg (GRAPHIC) — 7KB
• 0001747068-24-000068.txt ( ) — 180KB
• mcbs-20241016.xsd (EX-101.SCH) — 3KB
• mcbs-20241016_lab.xml (EX-101.LAB) — 16KB
• mcbs-20241016_pre.xml (EX-101.PRE) — 10KB
• mcbs-20241016x8k_htm.xml (XML) — 5KB

01 Other Events

Item 8.01 Other Events On October 16, 2024, MetroCity Bankshares, Inc. (the "Company") announced the declaration of a quarterly cash dividend of $0.23 per share on its common stock. This dividend is payable November 8, 2024, to shareholders of record as of October 30, 2024. On October 16, 2024, the Company announced the continuation of its share repurchase program that expired on September 30, 2024 ("Prior Share Repurchase Plan"), and authorized the Company to repurchase up to 925,250 shares of the Company's outstanding shares of common stock, which is the number of remaining shares authorized for repurchase from the Prior Share Repurchase Plan. The share repurchase program will begin on October 17, 2024 and end on September 30, 2025. The repurchases will be made in compliance with all Securities and Exchange Commission rules, including Rule 10b-18, and other legal requirements and may be made in part under Rule 10b5-1 plans, which permits stock repurchases when the Company might otherwise be precluded from doing so. Repurchases can be made from time-to-time in the open market or through privately negotiated transactions depending on market and/or other conditions. The repurchase program may be modified, suspended or discontinued at any time and does not obligate the Company to purchase any shares of its common stock. A copy of the press release announcing the cash dividend and continuation of the share repurchase program is attached hereto as Exhibit 99.1 and incorporated by reference herein.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 99.1 Press Release, dated October 16, 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: October 16, 2024 By: /s/ Lucas Stewart Lucas Stewart Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR