Quick Take
MetroCity Bankshares (OTCQX:MCBS) has filed to raise $30 million in a U.S. IPO, per an amended registration statement.
The company operates a network of bank branches in the south and east U.S. regions.
MCBS has promising prospects and appears to be a well-managed bank, but I’m skeptical of the consolidating community bank sector in an ultra-low interest rate environment for the foreseeable future.
Company & Business
Doraville, Georgia-based Metro City was founded in 2006 and operates 19 full-service branch locations in multi-ethnic communities in the states of Alabama, Florida, Georgia,