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ATLANTA, Jan. 22, 2021 /PRNewswire/ MetroCity Bankshares, Inc. ( MetroCity or the Company ) (NASDAQ: MCBS), holding company for Metro City Bank (the Bank ), today reported net income of $9.5 million, or $0.37 per diluted share, for the fourth quarter of 2020, compared to $9.4 million, or $0.36 per diluted share, for the third quarter of 2020, and $10.7 million, or $0.42 per diluted share, for the fourth quarter of 2019. For the year ended December 31, 2020, the Company reported net income of $36.4 million, or $1.41 per diluted share, compared to $44.7 million, or $1.81 per diluted share, for the year ended December 31, 2019.
Fourth Quarter 2020 Highlights:
Annualized return on average assets was 2.14%, compared to 2.20% for the third quarter of 2020 and 2.57% for the fourth quarter of 2019.