MetroCity Bankshares Business Summary

MetroCity Bankshares, Inc. (MCBS) operates as the financial holding company for Metro City Bank, primarily generating revenue through net interest income from a diversified loan portfolio and non-interest income from service charges and mortgage fees. The company’s business model is structured around two primary segments: Commercial and Consumer Banking, which provides traditional deposit products like money market accounts and certificates of deposit, and Lending Services, which specializes in Small Business Administration (SBA) loans, commercial real estate (CRE), and residential mortgages. Following its strategic $202 million acquisition of First IC Corporation in late 2025, the bank has significantly expanded its asset base to approximately $4.8 billion and broadened its footprint across multi-ethnic hubs in the U.S. Its primary direct competitors include Bank of Hope (HOPE), Hanmi Financial (HAFC), PCB Bancorp (PCB), and First Community Bancshares (FCBC). Within this landscape, MetroCity differentiates itself as a high-efficiency community bank with a niche specialization in serving the Korean-American and other immigrant business communities, maintaining industry-leading net interest margins and a disciplined focus on ethnic market segments. The leadership team is anchored by Founder, Chairman, and CEO Nack Y. Paek, who established the bank in 2006 after a 15-year tenure as President of Government Loan Service Corporation, a prominent SBA service provider. Supporting him are Farid Tan, who serves as President of the Company and CEO of the Bank with over 40 years of industry experience, and Lucas Stewart, the Executive Vice President and Chief Financial Officer, who previously held senior reporting roles at Fidelity Bank. Howard Hwasaeng Kim serves as the Chief Operating Officer and Chief Lending Officer, bringing a pedigree from the Korea Development Bank. The company is publicly traded on the NASDAQ and maintains a strong institutional investor base, with significant holdings by Vanguard and BlackRock, while the board includes veteran directors such as Vice Chairman Don T.P. Leung and recently appointed director David Shim. This seasoned executive core is characterized by an average management tenure of nearly nine years, providing stable oversight for the bank’s aggressive expansion into the Southeastern and Western United States.