Liquidity is under pressure as cash and cash equivalents declined to $61.2 million in 2026Q1, down significantly from the $370.8 million reported in 2025Q4.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Cash from Operations | 31.15M | 137.01M | 63.5M | 82.1M | 134.69M | 65.43M | 142.56M | 32.2M | -160.99M | 151.81M | -140.54M | 16.74M | 7.02M | 8.12M |
| Operating CF Growth % | 19.22% | 115.77% | -22.65% | -39.05% | 105.85% | -54.1% | 342.74% | 120% | -206.05% | 208.02% | -939.52% | 138.39% | -13.51% | - |
| Net Income | 74.72M | 68.53M | 64.5M | 51.61M | 62.6M | 61.7M | 36.39M | 44.72M | 41.33M | 31.9M | 20.22M | 16.61M | 12.5M | 10.18M |
| Depreciation & Amortization | 1.82M | 0 | 2.96M | 2.69M | 3.88M | 2.81M | 2.93M | 2.72M | 899K | 593K | 582.87K | 603.16K | 535.62K | 547.95K |
| Deferred Taxes | 0 | 0 | 350K | 1.01M | -2.96M | -3.07M | -1.95M | 1.09M | 355K | -134K | 752.75K | 661.69K | -81.37K | -232.9K |
| Other Non-Cash Items | 2.86M | 102.5M | -927K | -357K | 93.25M | 7.15M | 89.3M | -28.93M | -206.6M | 130.24M | -161.83M | -1.23M | -4.43M | -3.37M |
| Working Capital Changes | -27.47M | -34.02M | -6.01M | 24.73M | -24.01M | -4.58M | 14.06M | 11.08M | 1.52M | -11.51M | -771.25K | -288.04K | -1.98M | 530.45K |
| Cash from Investing | 141.47M | -109.98M | 5.87M | -110.27M | -651.82M | -930.55M | -477.86M | -18.29M | 109.34M | -277.94M | -239.56M | -78.87M | -46.63M | -54.04M |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | -22.24M | -5.95M | 0 | 0 | -1.25M | 0 | 0 | 0 | 0 |
| Sale/Maturity of Investments | 225K | 0 | 640K | 1.27M | 2.89M | 2.85M | 3.75M | 3.3M | 2.08M | 8.04M | 2.1M | 7.85M | 0 | 0 |
| Net Investment Activity | 225K | 0 | 640K | 1.27M | 2.89M | -19.39M | -2.21M | 3.3M | 2.08M | 6.79M | 2.1M | 7.85M | 0 | 0 |
| Acquisitions | 9.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 132.7M | -109.98M | 6.51M | -106.61M | -652.35M | -910.77M | -475.12M | -20.5M | 110.12M | -278.82M | -238.2M | -83.53M | -46.39M | -53.53M |
| Cash from Financing | -74.01M | -27.84M | 35.7M | -6.51M | 255.27M | 1.16B | 209.58M | 124.08M | 94.17M | 155.4M | 403.58M | 71.32M | 53.76M | 42.54M |
| Dividends Paid | -19M | -24.84M | -21.05M | -18.2M | -15.29M | -11.79M | -10.29M | -10.37M | -9.29M | -5.4M | -3.77M | -2.66M | -1.96M | -461.14K |
| Share Repurchases | -2.7M | -2.73M | -10K | -2.02M | -8.2M | -5.54M | 0 | -1.49M | 0 | 0 | 0 | 0 | -407.74K | -2.87M |
| Stock Issued | -272K | -272K | 0 | 0 | 0 | 0 | 0 | 13.91M | 0 | 0 | 0 | 0 | 1.04M | 50K |
| Net Stock Activity | -2.97M | -3M | -10K | -2.02M | -8.2M | -5.54M | 0 | 12.43M | 0 | 0 | 0 | 0 | 629.76K | -2.82M |
| Debt Issuance (Net) | 0 | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | -1000K | 1000K | 1000K |
| Other Financing | -52.04M | -50M | 6.76M | 64.1M | 403.82M | 783.13M | 172.51M | 63.15M | 224.25M | 149.8M | 308.76M | 98.85M | 52.55M | 42.19M |
| Net Change in Cash | 98.62M | -812K | 105.07M | -34.68M | -261.86M | 290.65M | -125.72M | 137.99M | 42.59M | 29.27M | 23.48M | 9.2M | 14.15M | 16.97M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20.36M |
| Cash at Beginning | 0 | 3.21M | 144.81M | 179.49M | 441.34M | 150.69M | 276.41M | 138.43M | 95.83M | 66.56M | 40.32M | 31.12M | 16.97M | 0 |
| Cash at End | 0 | 2.4M | 249.88M | 144.81M | 179.49M | 441.34M | 150.69M | 276.41M | 138.43M | 95.83M | 63.8M | 40.32M | 31.12M | 16.97M |
| Interest Paid | 69.47M | 91.44M | 95.4M | 89.59M | 25.07M | 4.59M | 12.16M | 22.6M | 13.82M | 8.57M | 5.08M | 3.57M | 0 | 0 |
| Income Taxes Paid | 20.72M | 21.78M | 21.5M | 17.97M | 34.31M | 23.51M | 14.77M | 12.49M | 10.4M | 20.09M | 9.91M | 8.79M | 0 | 0 |
| Free Cash Flow | 30.55M | 137.01M | 62.22M | 77.17M | 132.34M | 65.05M | 142.02M | 31.1M | -163.85M | 145.9M | -144M | 13.55M | 6.78M | 7.61M |
| FCF Growth % | -19.48% | 120.23% | -19.38% | -41.69% | 103.45% | -54.2% | 356.64% | 118.98% | -212.3% | 201.32% | -1162.51% | 100.02% | -10.95% | - |
CRE and SBA concentration
As reported in recent financial filings, MetroCity Bankshares maintained consistent quarterly dividend payments of approximately $5.8 million throughout 2025, yet the sharp $26.5 million provision for loan losses in 2026Q1 suggests that capital retention may become a priority over continued shareholder distributions in coming periods.
The bank's history of regular dividend payments appears to be at odds with the recent volatility in net income and the substantial increase in credit loss provisioning. Investors should monitor whether management chooses to preserve capital to bolster the balance sheet against potential asset quality deterioration rather than maintaining current payout levels.
Based on the provided cash flow data, the bank's provision for loan losses swung from a $782,000 expense in 2023Q4 to a significant $26.5 million charge in 2026Q1, indicating that management is likely responding to heightened credit risk within its concentrated commercial real estate and SBA loan portfolios.
This dramatic shift in provisioning suggests that the bank is proactively addressing potential defaults rather than relying on historical loss patterns. Such a large charge warrants further investigation into whether this reflects a specific, localized economic shock or a broader systemic weakness in the bank's core immigrant-entrepreneur borrower base.
According to historical cash flow statements, MetroCity Bankshares has engaged in negligible investment securities purchases or sales over the last ten quarters, with the exception of an $8 million purchase in 2025Q1, suggesting a strategy focused on loan-based growth rather than managing a liquid investment portfolio.
The lack of meaningful activity in the investment portfolio implies that the bank's liquidity is primarily tied to its loan book and cash reserves. This limited secondary market activity may restrict the bank's ability to quickly rebalance its interest rate risk profile in a volatile rate environment.
As indicated by the erratic OCF/NI ratios, which fluctuated from 2.49 in 2024Q1 to -0.73 in 2023Q4, the bank's cash flow statement provides limited insight into operational health due to the heavy influence of loan originations and secondary market sales that are not captured in traditional operating cash flow.
The extreme variability in operating cash flow suggests that investors should prioritize balance sheet metrics over cash flow statements when assessing the bank's stability. The reliance on SBA gain-on-sale premiums likely creates artificial volatility in cash flows that does not necessarily reflect the underlying health of the core deposit-taking business.
Quick answers to the most common questions about buying MCBS stock.
MetroCity Bankshares, Inc. (MCBS) generated $137.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
MetroCity Bankshares, Inc. (MCBS) generated $137.0M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
MetroCity Bankshares, Inc. (MCBS) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, MetroCity Bankshares, Inc. (MCBS) returned $24.8M to shareholders via cash dividends and spent $2.7M on share repurchases. This shows the company's commitment to returning capital to its equity investors.