NetClass Technology gets 180-day deadline after sub-$1 Nasdaq deficiency notice
NetClass Technology Inc. received a Nasdaq Listing Qualifications notice on January 27, 2026 after its Class A ordinary shares closed below $1 for 30 consecutive business days. Nasdaq has granted a 180-day compliance period until July 27, 2026, during which NetClass may regain compliance or pursue a reverse stock split to avoid delisting.
1. MetroCity Reports Fourth Quarter and Full-Year Earnings Growth
MetroCity Bankshares, Inc. recorded net income of $18.3 million, or $0.68 per diluted share, in the fourth quarter of 2025, up 12.8% from $16.2 million in the year-ago quarter. Sequentially, net income rose 6.0% from $17.3 million in Q3 2025. For the full year, MetroCity delivered $68.7 million in net income, or $2.64 per diluted share, a 6.5% increase over $64.5 million in 2024. The year-over-year gain reflected $12.3 million higher net interest income and $2.1 million higher noninterest income, offset in part by $9.6 million higher noninterest expense and $1.4 million higher income tax expense.
2. Balance Sheet Expands on First IC Acquisition
Total loans held for investment increased by $1.1 billion, or 36.6%, to $4.1 billion in Q4 2025, driven largely by the December 1 acquisition of First IC Corporation. Excluding acquired loans, organic lending grew by $91.5 million (3.1%) sequentially. Total deposits rose $952.9 million, or 35.4%, to $3.65 billion, with organic deposit growth of $73.8 million (2.7%) from Q3. Average earning assets climbed $384.9 million in the quarter, while average interest-bearing liabilities grew $297.0 million, reflecting the integration of First IC’s balances.
3. Profitability and Efficiency Metrics Show Mixed Trends
Annualized return on average assets in Q4 2025 was 1.80%, down from 1.89% in Q3 and 1.82% in Q4 2024. Annualized ROAE was 15.45%, compared with 15.69% in Q3 and 15.84% a year earlier; non-GAAP adjusted ROAE rose to 17.83% from 16.10% in Q3. The efficiency ratio widened to 46.7% from 38.7% in Q3 and 40.5% a year ago. Net interest margin improved to 3.73%, up five basis points sequentially and 16 basis points year-over-year, reflecting higher loan yields and stable funding costs.
4. Acquisition Bolsters Strategic Position and Financial Flexibility
With the closing of the First IC transaction on December 1, MetroCity added $370.6 million in average loans and $268.0 million in average deposits to its balance sheet, and gained $825.0 million of interest rate derivatives designated as cash-flow hedges. CEO Nack Paek highlighted that the combination enhances MetroCity’s competitive position in key markets and provides financial flexibility to support continued organic growth initiatives and community investment.