Ongoing loan – Ibook Linux http://www.ibooklinux.net/ Sat, 18 Sep 2021 14:07:16 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://www.ibooklinux.net/wp-content/uploads/2021/06/ibook-150x150.png Ongoing loan – Ibook Linux http://www.ibooklinux.net/ 32 32 Home loan: should you repay it or invest if you have a lump sum? https://www.ibooklinux.net/home-loan-should-you-repay-it-or-invest-if-you-have-a-lump-sum/ https://www.ibooklinux.net/home-loan-should-you-repay-it-or-invest-if-you-have-a-lump-sum/#respond Sat, 18 Sep 2021 11:36:00 +0000 https://www.ibooklinux.net/home-loan-should-you-repay-it-or-invest-if-you-have-a-lump-sum/ Home loans are generally less expensive than other loans, and repayment terms typically vary from 15 to 20 years. Since buying a home requires a large amount of money, very few people can buy one with the full down payment, and most homebuyers need to take out a home loan. There are also some advantages […]]]>
Home loans are generally less expensive than other loans, and repayment terms typically vary from 15 to 20 years.

Since buying a home requires a large amount of money, very few people can buy one with the full down payment, and most homebuyers need to take out a home loan. There are also some advantages to buying a house by taking out a home loan – buyers save money on rent by switching from rented accommodation to owner accommodation and there are also tax advantages on the interest paid on the property. a mortgage and on the repayment of the principal. .

Home loans are generally less expensive than other loans, and repayment terms typically vary from 15 to 20 years. Some financial institutions even offer home loans with a repayment term of 30 years.

Even if mortgage interest rates are lower, the longer the repayment term, the higher the total amount of interest paid will be, even if the amount of the equivalent monthly payment (EMI) will be lower.

For banks and financial institutions, home loans provide long-term stable income for 15 to 30 years.

However, during the long repayment period, if a borrower receives a lump sum or their regular income increases significantly, should the extra money be used to pay off the current home loan or should it be invested elsewhere to generate income? the wealth ?

Buying a house Vs staying rented: what would be financially advantageous for you under the new tax system?

The decision to repay or invest should be made on a case-by-case basis.

When to repay

The decision to repay the entire loan amount or part of it can be crucial in the following circumstances.

Unstable career

If there is uncertainty about future income due to a lack of stability in the career, it is best to reduce future debts by paying off the mortgage early whenever an opportunity arises.

High EMI amount

In case the amount of EMI is very high relative to monthly income – for example more than 40-50 percent of salary / income – it is better to use a lump sum to reimburse part of it to reduce the amount of the EMI.

When to invest

The decision to invest can be made on the decision to repay based on the following factors.

Low interest rate

As the interest rates on home loans are generally lower than those on most other loans, there are opportunities to generate a higher return on your investment.

Long term

Since mortgage terms are longer than 15 years, a borrower has the opportunity to invest in long-term instruments like equity and generate a much higher rate of return than the interest rate on a loan. immovable.

Fiscal advantages

Since there are tax benefits up to a limit on mortgage interest and principal repayment, it is better to continue with the repayment schedule to enjoy the benefits rather than paying off in a lump sum. In addition, a lump sum refund would exceed the tax benefit limit in the excess refund year and reduce the scope of future tax benefits.

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FinTech Startup Raids Shopify to Hire First Legal Chief https://www.ibooklinux.net/fintech-startup-raids-shopify-to-hire-first-legal-chief/ https://www.ibooklinux.net/fintech-startup-raids-shopify-to-hire-first-legal-chief/#respond Fri, 17 Sep 2021 19:41:34 +0000 https://www.ibooklinux.net/fintech-startup-raids-shopify-to-hire-first-legal-chief/ Finco Services Inc., a digital banking startup known as Current, hired Jodi Golinsky to be its general counsel after achieving unicorn status earlier this year. Golinsky has spent the last three years at Shopify Inc., where she led a team of 12 employees who handled legal, compliance and strategy work for several of the e-commerce […]]]>

Finco Services Inc., a digital banking startup known as Current, hired Jodi Golinsky to be its general counsel after achieving unicorn status earlier this year.

Golinsky has spent the last three years at Shopify Inc., where she led a team of 12 employees who handled legal, compliance and strategy work for several of the e-commerce company’s product lines of business and all financial solutions and services, according to her LinkedIn profile.

Prior to Shopify, Golinsky was General Counsel and Chief Compliance Officer at the start-up of FS Card Inc. for four years. Previously, she spent a year as Deputy General Counsel in the United States for Wonga Group Ltd., a now defunct company. payday lender in uk.

Running tripled its valuation this year after his last round of table has passed the $ 131 million the company raised in November 2020. Stuart Sopp, a former currency trader at Morgan Stanley, founded the New York-based fintech company in 2015, and is currently its CEO.

Current backers include venture capital firm Andreessen Horowitz, music director Scooter Braun’s venture capital firm, TQ Ventures LLC, and investment giants Avenir Corp. and Tiger Global Management LLC. Current was valued at $ 2.2 billion in April following a $ 220 million fundraiser, according to CNBC.

In 2019, Sopp accused Facebook Inc. of ripping Current’s logo for its blockchain division Calibra, according to Bloomberg News. Facebook renamed its Calibra unit in Novi last year to look less like the Libra Association, a company-backed digital currency project. Libra thereafter changed his name to Diem.

Current, which started out as a debit card business, announced earlier this year that it seeks to extend its operations to other areas of the fintech space.

Golinsky, who has two decades of financial services expertise, confirmed via email that she joined Current this month as the senior legal officer. She referred an investigation into her role to Current spokeswoman Erin Bruehl, who said law firm Goodwin Procter “continues to provide valuable legal services” to the company.

Golinsky began his legal career as a partner at Davis Polk & Wardwell. She then spent over half a dozen years working for Mastercard Inc., where Golinsky was vice president of regulatory and public policy advice, before becoming chief advisor of prepaid services at American Express Co.

At Shopify, which recently overhauled its in-house legal department, Golinsky worked out of New York and the Canadian company headquarters in Ottawa as a director and associate general counsel for financial solutions.

She helped Shopify build and grow its compliance and anti-money laundering team while taking on the company’s legal direction for accounts and cards, payouts, loans, payments and taxes. .

A Shopify partner, WeCommerce Holdings Ltd., announced Thursday its addition from General Counsel Susan Min, former Global Head of Risk and Policy at Goldman Sachs Group Inc. The Victoria, BC-based company went public last year and is serving as an acquirer in A series of apps serving Shopify’s retail platform.


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Corporate Debt – Meaning, Structure and How Does It Work? – Forbes Advisor INDIA https://www.ibooklinux.net/corporate-debt-meaning-structure-and-how-does-it-work-forbes-advisor-india/ https://www.ibooklinux.net/corporate-debt-meaning-structure-and-how-does-it-work-forbes-advisor-india/#respond Thu, 16 Sep 2021 18:37:21 +0000 https://www.ibooklinux.net/corporate-debt-meaning-structure-and-how-does-it-work-forbes-advisor-india/ Venture capital debt is a form of debt financing, typically a senior secured non-convertible loan, offered to new age venture capital backed companies. It serves as a strategic tool to complement equity financing and, if incorporated effectively, presents various effective use cases for new age businesses, including: Protect equity dilution – By using debt as […]]]>

Venture capital debt is a form of debt financing, typically a senior secured non-convertible loan, offered to new age venture capital backed companies. It serves as a strategic tool to complement equity financing and, if incorporated effectively, presents various effective use cases for new age businesses, including:

  • Protect equity dilution – By using debt as growth capital, companies can achieve high levels of growth without having to dilute equity.
  • Extension of the track between laps – Debt is often used to lengthen the track between rounds. For entrepreneurs, this means greater capacity to raise capital in the future.
  • Inadequate financing of working capital – It can be used to finance the working capital needs of rapidly growing businesses that require large investments in working capital.
  • Financing of capital investments – When bank financing is not sustainable, risky debt can be an important tool for financing capital spending and business acquisitions.
  • Create a credit report – By deploying a healthy capital mix of debt and equity financing, businesses can establish a stable credit history at an early stage.

How is corporate debt structured?

  • The underlying instrument of risky debt is a “non-convertible debenture” (NCD).
  • CRS are coupon-bearing instruments issued by the borrower to the lender.
  • In addition to this coupon-bearing instrument, the lender also subscribes for warrants for shares of the borrower.
  • Warrants are a security which gives its holder the right (but not the obligation) to subscribe to the capital of the company at a certain price within a specified period.

How is venture capital debt different from equity financing?

  • Equity is the most expensive source of finance for a business, and the opportunity cost of allocating equity is high. Entrepreneurs therefore need to focus on maintaining an optimal mix of capital between debt and equity. In the beginning, when the company is working on the adequacy of its product market and has not yet established its revenue model, equity should be the main external source of capital.
  • When the business enters the expansion phase and must need additional capital to grow, debt can supplement equity by replacing it for predictable use cases (for example, financing working capital) .
  • In all foreseeable use cases, replacing equity with debt is more efficient (for example, financing working capital).

Main differences between equity financing and debt financing:

What parameters do subprime debt funds consider before investing?

Company-related settings

A fund analyzes certain key parameters related to the company and the industry to make investment decisions:

  • The strength of the founders and key leaders: The qualities that the funds look for in founders will include domain expertise, vision and the ability to build strong teams, among others.
  • Existing investors support the business: Lenders are comforted by the quality of the investors and their willingness to support the business in the future.
  • Established revenue model and healthy margins: High growth companies with an established revenue model and high margins can strategically allocate debt to support their current operations and scale. Most importantly, the business must have a clear path to profitability.
  • Market opportunity: The company must have a large addressable market, a strong fit with the product market, a well-designed go-to-market strategy to use debt capital prudently in order to grow.

Operational parameters

In addition to business metrics, the fund also examines equally important operational parameters:

  • The company’s liquidity position. Efficient liquidity management and a strong liquidity position mean financial prudence.
  • Scalability of the relationship. The funds establish a full working relationship and become anchored in the business as it grows.
  • Company-defined protocols to ensure data integrity. Without data integrity, information would be a diminished source at best. The relationship must be built on a solid foundation of trust.
  • Corporate governance framework. The company must balance the interests of management, employees, investors and various other stakeholders in a transparent and objective manner. High standards of governance indicate how the affairs of the company are controlled and operated.

How can investors invest in venture capital debt?

Risk debt funds are structured as Alternative Investment Funds (AIFs) in India. AIFs are private investment vehicles for investing in non-traditional asset classes such as infrastructure funds, private equity funds, venture capital funds, among others. They allow investors to diversify from traditional asset classes such as public equities and debt securities.

The stock market regulator, Securities and Exchange Board of India (SEBI) has imposed a minimum limit of INR 1 crore to be observed for investing in AIF units. Investors can subscribe to the units of an AIF either directly or through distributors appointed by the fund.

Debt-at-risk AIFs generally have a commitment period of four to five years during which the committed capital is recycled. During the commitment period, investors receive quarterly payments that are linked to the NCD coupon-bearing instruments. CRS are financial instruments issued by companies to raise long-term capital through public or private issuance. Unlike convertible instruments, CRSs cannot be converted into shares at any time.

In India, risky debt remains underpenetrated and represents 3-4% of the Indian venture capital ecosystem. This is growing rapidly as the venture capital debt ecosystem matures in the country.

Risks of subprime debt lending that investors should be aware of

Subprime loans are often viewed as higher returns for higher risk. In effect, investors derive the risk associated with venture capital debt from the risk inherent in venture capital. However, the investment thesis and the risk profile are fundamentally different.

  • Subprime loans come with considerable security to protect downside risk. Debt is senior secured debt with a charge on the assets of the company. In addition, borrowers are fast growing, institutionally backed companies with a strong focus on corporate governance and transparency.
  • The returns in the case of venture capital debt are a combination of fixed interest income and rising equity through warrants. This interest income is high yielding and is an attractive alternative to the difficult low yield situation that investors are currently facing. More importantly, these returns are regular and predictable in nature.
  • In addition to fixed income securities, investors can also participate in the upside of shares of portfolio companies in the event that those companies gain in valuation. Venture capital debt allows investors to participate in a structured way in the venture capital ecosystem.

Who should invest in venture capital debt?

Investors can allocate a portion of investable capital to different alternative products depending on their risk appetite and return objectives. High net worth individuals (HNIs) in India are increasingly eager to explore venture capital investing. In recent times, corporate treasuries and other such institutions have started to explore subprime debt as an alternative form of leveraged investment outside of highly rated debt instruments.

However, many of these investors lack the sourcing and selection prowess that venture capitalists (VCs) have and therefore face the challenge of looking for the right deals. Additionally, venture capital funds have an average hold period of eight to 10 years. This can deter new investors, who may shy away from the irrevocable and binding commitment.

This has allowed venture capital debt to serve as an ideal gateway for venture capital investors. The inherently low-risk profile and predictability of subprime loan returns allow investors to gain exposure to growth-stage startups while taking less risk. Investors can participate in the rise of stocks through warrants in any company. With limited drawbacks and potentially high payoffs, investors can test the waters of venture capital investing by partnering with venture capital funds.


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Auto Loan Services Market Size, Growth, and Analysis by Major Key Players – Chase Auto Loan, Alliant Credit Union, Capital One, LendingTree Auto Loan https://www.ibooklinux.net/auto-loan-services-market-size-growth-and-analysis-by-major-key-players-chase-auto-loan-alliant-credit-union-capital-one-lendingtree-auto-loan/ https://www.ibooklinux.net/auto-loan-services-market-size-growth-and-analysis-by-major-key-players-chase-auto-loan-alliant-credit-union-capital-one-lendingtree-auto-loan/#respond Wed, 15 Sep 2021 22:52:28 +0000 https://www.ibooklinux.net/auto-loan-services-market-size-growth-and-analysis-by-major-key-players-chase-auto-loan-alliant-credit-union-capital-one-lendingtree-auto-loan/ Sample download request Request a discount Company Profile The latest recently published study, The forecast period of the global auto loan services market, 2021-2028. According to the study, the global auto loan services market was valued at XX USD and is expected to reach XX USD by 2027, exceeding only XX USD and an average […]]]>

The latest recently published study, The forecast period of the global auto loan services market, 2021-2028. According to the study, the global auto loan services market was valued at XX USD and is expected to reach XX USD by 2027, exceeding only XX USD and an average of XX% per annum during the forecast period. This research report provides a comprehensive perspective of the market with detailed insights into drivers, restraints, opportunities, trends, and challenges, key factors that may affect targeted market results over the years.

The market reports provide a concise overview of the segments and sub-segments including product types, applications, players, and regions which provide key aspects of the market. The report focuses on the performance impact of the COVID-19 pandemic and provides the current market and takes an in-depth look at the market conditions. The report was able to conduct an in-depth study of market dynamics, changing consumer behavior, and flow of global supply chains affected by the market. This important information on reporting objectives provides clients with solid guidance in obtaining insight into their trading decisions from their investment market in order to assess factors that may affect current and future market conditions.

Competition analysis

This report provides a comprehensive view of the competitive environment for the Automotive Lending Services market and includes a detailed description of the performance of the major completed global players in the market. It provides the latest updated list of several business strategies including mergers, acquisitions, partnerships, product launches, manufacturing unit expansions and collaborations adopted by these major global players. The report provides a clear picture of large companies’ R&D investments and adoption of innovative technologies to broaden their consumer base and extend their existing competitiveness. Furthermore, the report provides detailed information about the position of new entrants or players in the market, the extent of growth, and opportunities.

The research focuses on the current market size of the Automotive Loan Services market and its growth rates on the basis of records with company outlines of key players / manufacturers:

Major Players Covered By Auto Loan Services Markets:

  • Continue the auto loan
  • Caisse populaire d’Alliant
  • A capital letter
  • LendingTree Auto Loan
  • LightStream
  • Wells Fargo Auto Loan
  • RoadLoans.com
  • American Bank
  • CarsDirect
  • Bank of America
  • CMBC
  • PingAn
  • Guazi
  • UMB Financial Company

Auto loan services market segmentation:

The Automotive Loan Services market is split by Type and by Application. For the period 2021-2028, the cross-industry growth provides accurate calculations and sales forecast by type and application in terms of volume and value. This analysis can help you grow your business by targeting qualified niche markets.

Automotive Loan Services Market Breakdown By Type:

Automotive Loan Services Market Split By Application:

Scope of Automotive Loan Services Market Report

Report attribute Details
Market size available for years 2021 – 2028
Reference year considered 2021
Historical data 2015 – 2019
Forecast period 2021 – 2028
Quantitative units Revenue in millions of USD and CAGR from 2021 to 2027
Covered segments Types, applications, end users, etc.
Cover of the report Revenue forecast, company ranking, competitive landscape, growth factors and trends
Regional scope North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Scope of customization Free customization of the report (equivalent to 8 working days for analysts) with purchase. Add or change the scope of country, region and segment.
Price and purchase options Take advantage of personalized shopping options to meet your exact research needs. Explore purchasing options

The regional market analysis Auto loan services can be represented as follows:

Each regional Automotive Loan Services industry is carefully studied to understand its current and future growth scenarios. It helps the players to strengthen their position. Use market research to gain a better perspective and understanding of the market and target audience and ensure you stay ahead of the competition.

Geographically, the global auto loan services market has segmented as follows:

  • North America includes the United States, Canada and Mexico
  • Europe includes Germany, France, UK, Italy, Spain
  • South America includes Colombia, Argentina, Nigeria and Chile
  • Asia-Pacific includes Japan, China, Korea, India, Saudi Arabia and Southeast Asia

Visualize Auto Loan Services Market Using Verified Market Intelligence: –

Verified Market Intelligence is our BI platform for telling the story of this market. VMI provides in-depth predictive trends and accurate insights into over 20,000 emerging and niche markets to help you make key revenue impact decisions for a bright future.

VMI provides a comprehensive overview and global competitive landscape of regions, countries and segments, as well as the major players in your market. Present your market reports and findings with built-in presentation capabilities, delivering over 70% of time and resources to investors, sales and marketing, R&D and product development. VMI supports data delivery in interactive Excel and PDF formats and provides over 15 key market indicators for your market.


The study thoroughly explores the profiles of the major market players and their main financial aspects. This comprehensive business analysis report is useful for all new entrants, existing and new, as they design their business strategies. This report covers the production, revenue, market share and growth rate of the Automotive Lending Services market for each key company, and covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. Historical breakdown data of auto loan services from 2016 to 2020 and forecast to 2021-2029.

About Us: Market Research Intelligence

Market Research Intellect provides syndicated and personalized research reports to clients across various industries and organizations, in addition to the goal of providing personalized and in-depth research studies.

We talk about solutions for logical research, personalized consulting and data severity analysis across a wide range of industries including energy, technology, manufacturing and construction, chemicals and materials, food and drink. Etc. Our research studies help our clients make more data-driven decisions, admit push predictions, grossly capitalize on opportunities, and maximize efficiency by acting as their belt in crime to adopt a mention precise and indispensable without compromise.

After serving the pinnacle of over 5,000 customers, we have provided expertly behaving affirmation research facilities to over 100 global Fortune 500 companies such as Amazon, Dell, IBM, Shell, Exxon Mobil, General Electric, Siemens, Microsoft, Sony and Hitachi.

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Website: – https://www.marketresearchintellect.com/


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How to ask FEMA for help with the Dixie fire – Forbes Advisor https://www.ibooklinux.net/how-to-ask-fema-for-help-with-the-dixie-fire-forbes-advisor/ https://www.ibooklinux.net/how-to-ask-fema-for-help-with-the-dixie-fire-forbes-advisor/#respond Wed, 08 Sep 2021 19:33:57 +0000 https://www.ibooklinux.net/how-to-ask-fema-for-help-with-the-dixie-fire-forbes-advisor/ Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors. It has been 57 days since the Dixie fire started in northern California. It continues to burn with intense fury over more than 900,000 acres – […]]]>

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors.

It has been 57 days since the Dixie fire started in northern California. It continues to burn with intense fury over more than 900,000 acres – making it the second largest wildfire in California history – with no end in sight.

Adverse weather conditions, including intense heat and lack of rain, made the battle against the fire tedious. The blaze has prompted evacuation orders and warnings, with worrying signs that more could arise if it continues to rage at its current rate.

As of September 7, only 59% of the fire was under control and it had already destroyed nearly 1,300 structures, with 6,000 others still at risk.

Some families may be displaced by the fire or have suffered damage to their homes. Since the end of August, federal assistance has been available for eligible affected persons. Here’s how to apply.

Federal aid to Californians affected by Dixie Wildfire

On August 24, President Joe Biden approved the California disaster declaration. The approval made a variety of federal funding available to help eligible people affected by the California wildfires.

Federal funding is available to individuals in Lassen, Nevada, Placer and Plumas counties. People living in these counties will need to apply directly online at Disasterassitance.gov or call 800-621-FEMA.

According to FEMA, people with home insurance must first file a claim with their insurance company before applying for federal relief funds. FEMA can only provide assistance for losses not covered by insurance.

After you apply, FEMA will determine your eligibility for various grants, including the following outlined in a White House press release:

Temporary accommodation

Funds are available for temporary housing for those who cannot live in their homes due to the risk of an ongoing fire or if their home has been destroyed. This assistance may include rental assistance or reimbursement of hotel expenses, but you must apply to FEMA to receive the funds.

Home repairs

People whose homes are damaged as a result of the fire may be eligible for home repairs. This aid involves rebuilding or performing basic repairs to a house so that it is safe, hygienic and functional, which means that the funds will cover the bare minimum of repairs. Inspection may be required, so be prepared for this step after application.

Refer to this FEMA Individual and Household Program website for more information.

Low cost loans for loss of uninsured property

Small Business Administration (SBA) loans are available for repairs or replacement costs that are not fully covered by insurance. These loans are available for businesses (up to $ 2 million) and homeowners (up to $ 200,000 to repair or replace their primary residence, or up to $ 40,000 to replace personal property, such as clothing, furniture, cars and appliances).

The loan term of these loans for physical damage can be up to 30 years without penalty or prepayment charge. Interest rates will not exceed 4% for applicants who cannot obtain credit elsewhere. A guarantee will be requested from the SBA to secure the loan when possible.

Keep in mind that these loans cannot be used on second homes or vacation properties; however, eligible rental properties may be eligible for assistance under the SBA business physical disaster loan program.

Refer to this SBA Home and Personal Loans website.

Climate change means more forest fires to come

Forest fires are a natural occurrence to maintain the balance of the earth’s ecosystem, but they are becoming more and more frequent as climate change makes the planet warmer. This means that disasters such as the current Dixie wildfire may continue to threaten the well-being and livelihoods of people in dry and drought-stricken areas.

The Biden administration has an ambitious climate agenda that aims to mitigate the impacts of climate change in the country and move towards a more sustainable future. These efforts include slowing the development of fossil fuels, increasing reliance on renewables, and suspending new oil and gas drilling leases.

And while the plans are ambitious, some say Biden has done little so far to achieve his ambitions. According to the New York Times, climate activists currently fear “robust climate measures could be removed from the second infrastructure bill, which would likely leave them on the cutting room floor for the foreseeable future as Republicans could secure the majority in Congress at mid-term of 2022 ”.


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nCino Announces Leadership Team Promotions to Continue Global Growth Initiatives | New https://www.ibooklinux.net/ncino-announces-leadership-team-promotions-to-continue-global-growth-initiatives-new/ https://www.ibooklinux.net/ncino-announces-leadership-team-promotions-to-continue-global-growth-initiatives-new/#respond Wed, 01 Sep 2021 20:05:00 +0000 https://www.ibooklinux.net/ncino-announces-leadership-team-promotions-to-continue-global-growth-initiatives-new/ Josh Glover appointed President and Chief Revenue Officer Greg Orenstein appointed Director of Corporate Development and Strategy Trisha Price appointed Chief Innovation Officer Josh Marcy appointed Executive Vice President, Product Management Dory Weiss appointed Executive Vice President Engineering April Rieger appointed Vice President executive chairman, general counsel and secretary WILMINGTON, North Carolina, September 01, 2021 […]]]>

Josh Glover appointed President and Chief Revenue Officer Greg Orenstein appointed Director of Corporate Development and Strategy Trisha Price appointed Chief Innovation Officer Josh Marcy appointed Executive Vice President, Product Management Dory Weiss appointed Executive Vice President Engineering April Rieger appointed Vice President executive chairman, general counsel and secretary

WILMINGTON, North Carolina, September 01, 2021 (GLOBE NEWSWIRE) – nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking and digital transformation solutions for the global financial services industry, today announced several strategic promotions within its leadership team to further support growth and scale of the company.

“As a company, we have made steady progress over the years by implementing our strategic growth initiatives, including expanding our global presence and increasing innovation on our platform,” said Pierre Naudé , CEO of nCino. “This progress would not have been possible without our people. These talented leaders have all played invaluable roles in growing our business, achieving our growth goals, and accelerating the transition of financial institutions to the cloud globally. It gives me great pleasure to announce these changes today, which reflect our maturation as a company and position us for continued growth and long-term success. I am incredibly excited about the strength and depth of our team and the enormous opportunity that lies ahead. “

The following changes to the nCino leadership team are effective immediately:

Josh Glover has been named president in addition to nCino’s chief revenue officer, taking on additional responsibilities in running the business and operations of nCino. A year-long nCino employee, Glover has been instrumental in growing the business, overseeing the global sales, pre-sales, channel and alliance teams, managing customer transformation journeys and driving the expansion of nCino in North America, EMEA and APAC. As chief revenue officer, Glover generated more than $ 204 million in revenue in fiscal 2021, increasing the company’s revenue by 48% from the previous year. Glover is a decorated veteran who has led the Marines through four combat deployments during a decade of service as a Marine Corps Special Operations and Infantry Officer. His awards include the Silver Star Medal, the Bronze Star Medal for Bravery and three Purple Heart Medals. In his expanded role, Glover will take on additional responsibilities overseeing global marketing and leverage the in-depth expertise he developed during his time at nCino to further guide business execution and lead the company’s operations in its next phase of growth.

Greg Orenstein has been appointed Chief Corporate Development & Strategy Officer of nCino. Orenstein joined nCino in 2015 and most recently served as Director of Corporate Development and Legal Affairs and Secretary. Orenstein played a critical role in driving the company’s corporate strategy, acquisitions, investments and legal activities, including leading the acquisitions of Visible Equity and FinSuite by nCino in 2019 and the initial public offering and nCino’s secondary offering in 2020. Orenstein is a seasoned leader with over 20 years of experience in driving corporate strategies and executing M&A and corporate finance transactions in the industry financial technologies. In this new role, Orenstein will broaden and intensify his focus on the overall strategic development of the company, including identifying and executing growth initiatives, mergers and acquisitions and investment opportunities, in order to strengthen nCino’s position as a leading digital transformation partner for financial institutions globally.

Trisha Price has been appointed Chief Innovation Officer of nCino. In this new role, Price will lead efforts to drive new product strategy and innovation and help ensure the alignment of nCino’s technology vision with its business strategy. Price joined nCino in 2016 and most recently served as Chief Product Officer, playing a central role in the growth, development, strategic direction and continued innovation of the nCino Bank Operating System®. Under his leadership, the nCino solution has expanded across many industries and geographies, moving from a US-based commercial loan origination system to a global banking platform. Price will leverage his in-depth knowledge of nCino’s business and solutions and 20 years of financial services and technology experience to infuse innovative thinking throughout the organization and its operations, further accelerating business results. nCino’s innovative capabilities across solutions and geographies, and fueling continued growth.

Josh Marcy has been appointed Executive Vice President, Product Management of nCino. Marcy joined nCino in 2018 and has been instrumental in the continued growth and development of the company’s flagship commercial banking solution, as well as the continued launch of new solutions, including automated spreading and pricing. business and profitability, both part of nCino IQ (nIQ) – the company’s suite of AI, machine learning and analytics. Marcy also leads all technology partnerships for the Company. Marcy has spent over 20 years in the FinTech industry, holding various executive roles at Custom Credit Systems, Misys and Finastra, and previously worked in the banking industry with a focus on small business lending. In his expanded role, Marcy will oversee nCino’s development roadmap for all solutions.

Dory Weiss has been appointed Executive Vice President, Engineering of nCino. Weiss, who joined nCino in 2013 as a senior software developer, has led the company’s engineering department and agile methodology practice since 2016, growing it from a small team to a global organization of over 350 software engineers, QA engineers, devOps engineers, architects. and managers. Previously, Weiss spent six years as a Senior Software Developer at the University of Texas, where she managed a team of developers and served as the Senior Technical Manager for many of the company’s electronic, business and administrative communications applications. University.

April Rieger has been appointed Executive Vice President, General Counsel and Secretary of nCino. Since joining nCino in 2018, Rieger has played a key role in scaling the company’s global legal department, including overseeing various contractual, governance, regulatory and intellectual property matters. Prior to joining nCino, Rieger spent over a decade as a lawyer at Williams & Connolly LLP in Washington, DC, where she worked on a wide range of complex corporate and litigation matters.

About nCino nCino (NASDAQ: NCNO) is the global leader in cloud banking. The nCino Bank Operating System® provides financial institutions with scalable technology to help them increase revenues, increase efficiency, reduce costs and comply with regulations. In a digitally driven world, nCino’s unique digital platform enhances the employee and customer experience to enable financial institutions to more effectively onboard new customers, grant loans and manage overall loan lifecycle, and open deposits and other accounts across all lines of business and channels. . Transforming the way financial institutions work through innovation, reputation and speed, nCino works with more than 1,200 financial institutions around the world, with assets ranging from $ 30 million to over $ 2,000 billion . For more information visit: www.ncino.com.

MEDIA CONTACTS Kathryn Cook +1 919.691.4206 Kathryn.cook@ncino.com

Sutton Resler, nCino +1 571.236.4966 sresler@mww.com

This press release contains forward-looking statements within the framework of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include actions, events, results, strategies and expectations and are often identifiable by the ‘use of the words “believes,”, “,” similar expressions. All forward-looking statements contained in this press release are based on the historical performance of nCino and its current plans, estimates and expectations, and do not constitute a representation that such plans, estimates or expectations will be realized. These forward-looking statements represent nCino’s expectations as of the date of this press release. Subsequent events may change these expectations and, except as required by law, nCino assumes no obligation to update or revise these forward-looking statements. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially, including, among others, the risks and uncertainties associated with the market adoption of our solution, our ability to attract new clients and to be successful in having clients expand their use of our solution, our ability to successfully acquire new businesses and / or integrate acquisitions into our existing organization, our ability to maintain our rate of revenue growth at the future, and data privacy and security issues. Additional risks and uncertainties that could affect the business and financial results of nCino are included in reports filed by nCino with the United States Securities and Exchange Commission (available on our website at www.ncino.com or the SEC website at www.sec.gov). Further information on potential risks that could affect actual results will be included in other documents filed by nCino with the SEC from time to time.


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Robin Appel expands production with six-figure loan from HSB https://www.ibooklinux.net/robin-appel-expands-production-with-six-figure-loan-from-hsb/ https://www.ibooklinux.net/robin-appel-expands-production-with-six-figure-loan-from-hsb/#respond Mon, 23 Aug 2021 15:46:00 +0000 https://www.ibooklinux.net/robin-appel-expands-production-with-six-figure-loan-from-hsb/ Robin Appel, a Hampshire-based grain merchant, expanded his production facilities with a six-figure loan from HSBC UK. The equipment finance facility allows the independent company to expand its production capacity to include an oat processing line at its Shepton Mallet plant, to meet the growing demand for oat products. Tom Wood, Commercial Director of Robin […]]]>

Robin Appel, a Hampshire-based grain merchant, expanded his production facilities with a six-figure loan from HSBC UK.

The equipment finance facility allows the independent company to expand its production capacity to include an oat processing line at its Shepton Mallet plant, to meet the growing demand for oat products.

Tom Wood, Commercial Director of Robin Appel Ltd, said: “It’s no secret that the demand for dairy substitutes such as oat milk has skyrocketed in recent years – sales of plant-based milks in the UK. United jumped 16% to £ 278million last year, according to Nielsen data. This includes oat milk sales, which more than doubled to £ 73million.

“As an established grain merchant, this has given us a great opportunity to diversify our business. By working with HSBC UK’s equipment finance team, we were able to purchase the right equipment to take our business to the next level. This has allowed us to add value to the raw materials and also provide producers with additional market options for their oats.

Simon France, Deputy Corporate Equipment Finance Director for HSBC UK Equipment Finance, added: “The Robin Appel team spotted an opportunity for their business to grow at an opportune time. It has been fantastic allowing them to grow and develop in a booming market and we look forward to being a part of their business success.

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How to Avoid Loan Default, According to Leading Funding Brokers https://www.ibooklinux.net/how-to-avoid-loan-default-according-to-leading-funding-brokers/ https://www.ibooklinux.net/how-to-avoid-loan-default-according-to-leading-funding-brokers/#respond Sun, 22 Aug 2021 22:00:00 +0000 https://www.ibooklinux.net/how-to-avoid-loan-default-according-to-leading-funding-brokers/ Experts explain all the options available to borrowers struggling to repay a loan Melbourne, Australia, August 22, 2021 / PRNewswire / – Bills, debts and loan repayments can sometimes come at inopportune times, which can make it difficult for borrowers to make their payments. Instant lockdowns and ongoing Covid-19 restrictions may have added to that […]]]>

Experts explain all the options available to borrowers struggling to repay a loan

Melbourne, Australia, August 22, 2021 / PRNewswire / – Bills, debts and loan repayments can sometimes come at inopportune times, which can make it difficult for borrowers to make their payments. Instant lockdowns and ongoing Covid-19 restrictions may have added to that stress even more for some borrowers.

Missing repayments cause a loan to default, which has a negative impact on a credit score – if a borrower defaults on their loan more than once, it can lead to repossession or legal action. justice. Whether it is a car loan Where equipment financing, industry experts come in with their best advice.

Industry experts reassure clients that lenders understand when borrowers’ financial situations change. Typically, they want to help clients who are having financial difficulties. Contacting the lender and informing them of the situation should be the first priority. Lenders will not only offer financial advice, but they will also have a dedicated team that can offer assistance to clients in case of difficulties.

Positive Lending Solutions reminds borrowers that refinancing is always an option for people who are struggling to repay their current loan. This implies that borrowers find a new loan that is better suited to their needs. Start by checking with new lenders about what they can offer. Lenders are sometimes willing to match the rates or terms of another bank or group of lenders – often lenders just want to keep their customers, even if it means making adjustments.

Selling or trading in the car or selling the house may be a valid option for some borrowers. Positive Lending Solutions cautions borrowers considering this option to ensure that they factor in any fees their lender may ask them to pay and that they have considered all other viable options. This option would allow borrowers to recover financially and stabilize their budgets before potentially considering a new loan or alternative option.

Whatever the circumstances, there are a range of options to help borrowers in times of difficulty. Find out more about refinancing or hardship help, or finding the lowest or best interest rates. best auto credit Australiaglobally, contact Positive Lending Solutions today.

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Barcelona: Barcelona is running out of time https://www.ibooklinux.net/barcelona-barcelona-is-running-out-of-time/ https://www.ibooklinux.net/barcelona-barcelona-is-running-out-of-time/#respond Wed, 11 Aug 2021 16:46:26 +0000 https://www.ibooklinux.net/barcelona-barcelona-is-running-out-of-time/ Ffollowing the loss of Lionel messi of the team, Barcelona sought to resolve their issues regarding LaLiga’s salary cap on players. With the 2021/22 season about to begin, the Catalan club are running out of time and need to close deals at a rapid pace. The club is looking to finalize loan releases for Miralem […]]]>

Ffollowing the loss of Lionel messi of the team, Barcelona sought to resolve their issues regarding LaLiga’s salary cap on players.

With the 2021/22 season about to begin, the Catalan club are running out of time and need to close deals at a rapid pace.

The club is looking to finalize loan releases for Miralem Pjanic and Samuel Umtiti to try to register their new signatures and Barcelona President Joan Laporta remain confident they will.

The Catalan giants are in contact with their veteran players as Gérard Piqué, Sergi Roberto, Sergio Busquets etc. to readjust their salaries and defer some to make ends meet.

Although discussions with the players are ongoing and progressing, they are struggling to meet everyone’s demands in such a short period of time, but the club remain confident that all requirements will be met.

Negotiations are intensifying between Pjanic and Juventus for a loan agreement although the finalization of the agreement is taking longer than expected.

Umtiti on loan

Talks are also underway between various clubs like Barcelona seek to unload Umtiti on a loan contract, with Benfica look for the most likely.

The club remain optimistic as they contemplate the 2021/22 season. They are not yet required to register Sergio Aguero until he recovers from his injury, but we can expect to see him again around November.

Back from Olympic duty from Tokyo 2020 Eric Garcia can rest rather than play the first game of the season, while Memphis depay looking to make his first start for the Spanish team.


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METROCITY BANKS SHARES: Management report and analysis of the financial position and operating results (Form 10-Q) https://www.ibooklinux.net/metrocity-banks-shares-management-report-and-analysis-of-the-financial-position-and-operating-results-form-10-q/ https://www.ibooklinux.net/metrocity-banks-shares-management-report-and-analysis-of-the-financial-position-and-operating-results-form-10-q/#respond Mon, 09 Aug 2021 14:54:33 +0000 https://www.ibooklinux.net/metrocity-banks-shares-management-report-and-analysis-of-the-financial-position-and-operating-results-form-10-q/ The purpose of this discussion and analysis is to focus on significant changes in the financial condition of MetroCity Bancshares, Inc. and our wholly owned subsidiary, Metro City Bank, from December 31, 2020 through June 30, 2021 and on our results of operations for the three and six months ended June 30, 2021 and 2020. […]]]>
The purpose of this discussion and analysis is to focus on significant changes
in the financial condition of MetroCity Bancshares, Inc. and our wholly owned
subsidiary, Metro City Bank, from December 31, 2020 through June 30, 2021 and on
our results of operations for the three and six months ended June 30, 2021 and
2020. This discussion and analysis should be read in conjunction with our
audited consolidated financial statements and notes thereto for the year ended
December 31, 2020 included in our Annual Report on Form 10-K, and information
presented elsewhere in this Quarterly Report on Form 10-Q, particularly the
unaudited consolidated financial statements and related notes appearing in
Item 1.

Caution Regarding Forward-Looking Statements


This Quarterly Report on Form 10-Q contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended (the
"Securities Act") and Section 21E of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"). These forward-looking statements reflect our
current views with respect to, among other things, future events and our
financial performance. These statements are often, but not always, made through
the use of words or phrases such as "may," "might," "should," "could,"
"predict," "potential," "believe," "expect," "continue," "will," "anticipate,"
"seek," "estimate," "intend," "plan," "strive," "projection," "goal," "target,"
"outlook," "aim," "would," "annualized" and "outlook," or the negative version
of those words or other comparable words or phrases of a future or
forward-looking nature. These forward-looking statements are not historical
facts, and are based on current expectations,  estimates and projections about
our industry, management's beliefs and certain assumptions made by management,
many of which, by their nature, are inherently uncertain and beyond our control,
particularly with regard to developments related to the COVID-19 (and the
variants thereof) pandemic. Accordingly, we caution you that any such
forward-looking statements are not guarantees of future performance and are
subject to risks, assumptions, estimates and uncertainties that are difficult to
predict. Although we believe that the expectations reflected in these
forward-looking statements are reasonable as of the date made, actual results
may prove to be materially different from the results expressed or implied by
the forward-looking statements.

A number of important factors could cause our actual results to differ materially from those indicated in these forward-looking statements, including factors discussed elsewhere in this quarterly report and the following:

? business and economic conditions, especially those affecting the financial position

the service industry and our main markets;

the impact of the COVID-19 pandemic on our business, including the impact of

actions taken by government authorities in an attempt to contain the virus or

fight against the impact of the virus on United States economy (including,

? without limitation, the CARES law), including the risk of inflation and

interest rate increases resulting from monetary and fiscal stimulus measures,

and the resulting effect of all of these on our operations, liquidity and

capital and on the financial condition of our borrowers and others

customers;

unfavorable results of pending or future litigation, regulatory reviews or

? other legal and / or regulatory actions related to the COVID-19 pandemic,

including through participation and execution of government programs

related to the COVID-19 pandemic, including, but not limited to, PPP;

factors that may affect the performance of our loan portfolio, including

? the asset value and liquidity of our main markets, financial health

   of our borrowers and the success of various projects that we finance;

? concentration of our loan portfolio in real estate loans, price trends,

values ​​and sales volumes of commercial and residential real estate;

the credit and loan risks associated with our construction and development,

 ? commercial real estate, commercial and industrial, residential real estate and
   SBA loan portfolios;


                                       33

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negative impact on our mortgage banking services, including the decline in our

mortgage arrangements or profitability due to rising interest rates and

? increased competition and regulation, the inability of the Bank or a third party to

meet mortgage service obligations, and the possibility that the Bank may be

necessary to redeem mortgages or compensate buyers;

our ability to attract sufficient loans that meet prudent credit standards,

? including in our constructions and fittings, commercial and industrial

and

categories of owner-occupied commercial real estate loans;

our ability to attract and maintain business banking relationships with

? well-qualified companies, real estate developers and investors with

track record in our market areas;

changes in the interest rate environment, including changes in federal funds

? and competition in our markets may lead to increased financing costs or

reduces returns on productive assets, thereby reducing our margins and net interest

Income;

? our ability to successfully manage our credit risk and the adequacy of our

allowance for loan losses (“ALL”);

? the adequacy of our reserves (including ALL) and the adequacy of our

methodology for calculating these reserves;

? our ability to successfully execute our business strategy to

growth;

? the concentration of our activities within our geographic areas of activity and

to the entire Asian American population in our main market areas;

? our focus on small and medium-sized businesses;

? our ability to manage our growth;

? our ability to increase our operational efficiency;

liquidity issues, including fluctuations in the fair value and liquidity of the

? securities we hold for sale and our ability to raise additional capital, if

necessary;

? failure to maintain adequate liquidity and regulatory capital and to comply with

changes in federal and state banking regulations;

? risk that our cost of financing will increase, if we are not able to

continue to attract stable and low-cost deposits and reduce the cost of our deposits;

? a large percentage of our deposits is attributable to a relatively small

number of clients;

the inability of our risk management framework to effectively mitigate credit risk,

? interest rate risk, liquidity risk, price risk, compliance risk, operational

risk, strategic risk and reputational risk;

? the composition of our asset mix and investments;

external economic, political and / or market factors, such as changes in

and tax policies and laws, including the FRB’s interest rate policies,

? inflation or deflation, changes in demand for loans and fluctuations in

consumption, borrowing and saving habits, which can affect

   impact on our financial condition;


                                       34

  Table of Contents

continuous or increasing competition from other financial institutions,

? unions and non-bank financial services companies, many of which are subject to

regulations different from ours;

? challenges resulting from unsuccessful attempts to expand into new geographies

markets, products or services;

? restrictions on the Bank’s ability to pay us dividends, which could limit

our liquidity;

increased capital requirements imposed by banking regulators, which may require

? us to raise capital at a time when capital is not available on favorable terms

or not at all ;

? a failure of the internal controls that we have put in place to deal with the risks

inherent in banking activity;

inaccuracies in our assumptions about future events, which could result in

? significant differences between our financial projections and

performance;

? changes in our management staff or our inability to keep motivating and

hire qualified management staff;

? the dependence of our operating model on our ability to attract and retain

experienced and talented bankers in each of our markets;

? our ability to identify and address cybersecurity, fraud and systems risks

mistakes;

? disruptions, security breaches or other undesirable events, failures or

interruptions or attacks on our computer systems;

? disruptions, security breaches or other undesirable events affecting the

third-party vendors who perform many of our critical processing functions;

? an inability to keep pace with technological advancements due to a lack of

resources to invest in new technologies;

? fraudulent and negligent acts of our customers, employees or suppliers and of our

the ability to identify and deal with such acts;

? risks associated with potential acquisitions;

? the expenses that we will incur in carrying on our business as a public company and our

inexperience in meeting the requirements of a public enterprise;

? the impact of any claim or legal action to which we may be subject, including

any effect on our reputation;

compliance with government and regulatory requirements, including

? Dodd-Frank Act and others relating to banking, consumer protection, securities

and tax matters, and our ability to maintain the required licenses under

with origination, sale and management of commercial mortgages;

? changes in the scope and cost of FDIC insurance and other coverages;

? changes in our accounting standards;

? changes in tariffs and trade barriers;

? changes in federal tax law or policy; and


                                       35

  Table of Contents

other risks and factors identified in our annual report on Form 10-K for the

? year ended December 31, 2020, including those identified under the heading

“Risk factors”, and detailed from time to time in our other documents filed with the

United States Securities Commission.

The foregoing factors should not be construed  as exhaustive and should be read
together with the other cautionary statements included in this Quarterly Report
on Form 10-Q. Because of these risks and other uncertainties, our actual future
results, performance or achievement, or industry results, may be materially
different from the results indicated by the forward looking statements in this
Quarterly Report on Form 10-Q. In addition, our past results of operations are
not necessarily indicative of our future results. You should not rely on any
forward looking statements, which represent our beliefs, assumptions and
estimates only as of the dates on which they were made, as predictions of future
events. Any forward-looking statement speaks only as of the date on which it is
made, and we do not undertake any obligation to update or review any
forward-looking statement, whether as a result of new information, future
developments or otherwise.

Covid-19 pandemic

During March 2020, the World Health Organization declared the novel strain of
coronavirus ("COVID-19") a global pandemic in response to the rapidly growing
outbreak of the virus. COVID-19 has significantly impacted local, national and
global economies due to stay-at-home orders and social distancing guidelines,
and has caused economic and social disruption on an unprecedented scale. While
some industries have been impacted more severely than others, all businesses
have been impacted to some degree. This disruption has resulted in the
shuttering of businesses across the country, significant job loss, and
aggressive measures by the federal government.

Congress, the President, and the FRB have taken several actions designed to
cushion the economic fallout. Most notably, the CARES Act was signed into law on
March 27, 2020 as a $2 trillion legislative package. The goal of the CARES Act
was to prevent a severe economic downturn through various measures, including
direct financial aid to American families and economic stimulus to significantly
impacted industry sectors. The package also included extensive emergency funding
for hospitals and providers. In addition to the general impact of COVID-19,
certain provisions of the CARES Act as well as other recent legislative and
regulatory relief efforts have had and continue to have a material impact on our
operations.

The Company continues to closely monitor the effects of the ongoing coronavirus
(COVID-19) pandemic on our loan and deposit customers, and is assessing the
risks in our loan portfolio and working with our customers to reduce the
pandemic's impact on them while minimizing losses for the Company. Meanwhile,
the Company remains focused on improving shareholder value, managing credit
exposure, monitoring expenses, enhancing the customer experience and supporting
the communities it serves.

We have implemented loan programs to allow customers who are experiencing
hardships from the COVID-19 pandemic to defer loan principal and interest
payments for up to twelve months. As of June 30, 2021, we had six non-SBA
commercial customers with outstanding loan balances totaling $15.3 million that
were under approved payment deferrals. This is a decline from the active payment
deferrals as of March 31, 2021 that were granted to nine non-SBA commercial
customers with outstanding balances totaling $26.5 million. Included in the
current non-SBA payment deferrals were two loans totaling $5.8 million with a
weighted average loan-to-value ("LTV") of 30.8% in the hotel industry and no
loans in the restaurant industry, which are two industries heavily impacted by
the COVID-19 pandemic. As of June 30, 2021, we had seven SBA loans with
outstanding gross loan balances totaling $13.3 million ($3.3 million
unguaranteed book balance) that were under approved payment deferrals. Of these
SBA payment deferrals, two loans totaling $2.4 million ($602,000 unguaranteed
book balance) were in the restaurant industry and one loan totaling $4.8 million
($1.2 million unguaranteed book balance) was in the hotel industry.

As of June 30, 2021, our residential real estate loan portfolio made up 68.1% of
our total loan portfolio and had a weighted average amortized LTV of
approximately 55.2%. As of June 30, 2021, only 0.1% of our residential mortgages
remain on hardship payment deferral covering principal and interest payments for
three months. This is a significant decrease from the first round of payment
deferrals granted during the second quarter of 2020, which made up 19.2% of our
residential mortgage balances as of June 30, 2020, and a slight decrease from
the last round of payment deferrals granted during the first quarter of 2021,
which made up 0.4% of our residential mortgage balances as of March 31, 2021.

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  Table of Contents

As a preferred SBA lender, we participated in the Paycheck Protection Program
("PPP") created under the CARES Act and implemented by the SBA to help provide
loans to our business customers in need. During the first round of PPP funding
in the second and third quarters of 2020, the Company approved and funded over
1,800 PPP loans totaling $97.0 million. These PPP loans were funded with our
current cash balances and all PPP loans are fully guaranteed by the SBA. As of
August 2, 2021, the SBA had granted forgiveness for these PPP loans totaling
$80.8 million, or 83.3% of PPP loans funded

The Economic Aid Act, signed into law on December 27, 2020, authorized an
additional $284.5 billion in new PPP funding and extended the authority of
lenders to make PPP loans through May 31, 2021. We participated in this new
round of PPP loan funding by offering first and second draw loans. As of June
30, 2021, the Company had approved and funded over 1,000 PPP loans totaling
$60.9 million under this new round of PPP loan funding. As of August 2, 2021,
the SBA had granted forgiveness for these PPP loans totaling $7.3 million, or
12.1% of PPP loans funded.

Despite the progress and while the overall outlook has improved based on the
availability of the vaccine to all adults and older children, the emergence and
spread of variants (including the Delta variant, a rapidly spreading strain of
coronavirus) remains as a risk to containing and ending the pandemic, as well as
to full economic recovery in our footprint.  Even with improvements in certain
economic indicators, significant uncertainty remains over the timing and scope
of additional government stimulus packages, and the speed of the recovery from
the downturn on our business, customers, and the economy as a whole remains
uncertain.

Overview


MetroCity Bankshares, Inc. is a bank holding company headquartered in the
Atlanta metropolitan area. We operate through our wholly-owned banking
subsidiary, Metro City Bank, a Georgia state-chartered commercial bank that was
founded in 2006. We currently operate 19 full-service branch locations in
multi-ethnic communities in Alabama, Florida, Georgia, New York, New Jersey,
Texas and Virginia. As of June 30, 2021, we had total assets of $2.52 billion,
total loans of $2.09 billion, total deposits of $1.97 billion and total
shareholders' equity of $264.3 million.

We are a full-service commercial bank focused on delivering personalized service
in an efficient and reliable manner to the small to medium-sized businesses and
individuals in our markets, predominantly Asian-American communities in growing
metropolitan markets in the Eastern U.S. and Texas. We offer a suite of loan and
deposit products  tailored to meet the needs of the businesses and individuals
already established in our communities, as well as first generation  immigrants
who desire to establish and grow their own businesses, purchase a home, or
educate their children in the United States. Through our diverse and experienced
management team and talented employees, we are able to speak the language of our
customers and provide them with services and products in a culturally competent
manner.

                                       37

  Table of Contents

Selected Financial Data

The following table sets forth unaudited selected financial data for the most
recent five quarters and for the six months ended June 30, 2021 and 2020. This
data should be read in conjunction with the unaudited consolidated financial
statements and accompanying notes included in Item 1 and the information
contained in this Item 2.



                                       38

  Table of Contents


                                                     As of or for the Three Months Ended                                 As of or for the Six Months Ended
                              June 30,        March 31,        December 31,       September 30,        June 30,           June 30,              June 30,
(Dollars in thousands,
except per share data)          2021             2021              2020                2020              2020               2021                  2020
Selected income
statement data:
Interest income             $      25,888    $      22,672    $        19,839    $         18,131    $      19,083    $          48,560     $          39,639
Interest expense                    1,063            1,138              1,411               2,192            3,240                2,201            

7 886

Net interest income                24,825           21,534             18,428              15,939           15,843               46,359           
    31,753
Provision for loan
losses                              2,205            1,599                956               1,450            1,061                3,804                 1,061
Noninterest income                  8,594            8,186             
6,138               7,964            5,500               16,780            

13 109

Noninterest expense                12,093           10,708             11,077              10,150            9,724               22,801           

19 873

Income tax expense                  4,728            4,432              3,079               2,918            2,819                9,160                 6,373
Net income                         14,393           12,981              9,454               9,385            7,739               27,374                17,555

Data per share: Basic income per share $ 0.56 $ 0.51 $ 0.37

           0.37    $        0.30    $            1.07     $        

0.69

Diluted earnings per share $ 0.56 $ 0.50 $ 0.37

           0.36    $        0.30    $            1.06     $        

0.68

Dividends per share $ 0.10 $ 0.10 $ 0.09

           0.09    $        0.11    $            0.20     $        

0.22

Book value per share (at
period end)                 $       10.33    $        9.95    $          9.54    $           9.23    $        8.94    $           10.33     $       

8.94

Shares of common stock
outstanding                    25,578,668       25,674,573         25,674,573          25,674,067       25,674,067           25,578,668       

25 674 067

Weighted average diluted
shares                         25,833,328       25,881,827         25,870,885          25,858,741       25,717,339           25,840,530       
    25,731,714
Performance ratios:
Return on average assets             2.53 %           2.62 %             2.14 %              2.20 %           1.89 %               2.57 %                2.16 %
Return on average equity            22.51            21.35              15.78               16.22            13.92                21.94                 16.03
Dividend payout ratio               17.95            19.91              24.60               24.78            36.53                18.88                 32.21
Yield on total loans                 5.21             5.20               5.14                5.05             5.69                 5.21                  5.90
Yield on average earning
assets                               4.79             4.85               4.80                4.51             4.93                 4.82                  5.17
Cost of average interest
bearing liabilities                  0.31             0.38               0.56                0.91             1.32                 0.34                  1.56
Cost of deposits                     0.29             0.36               0.55                0.94             1.38                 0.32                  1.63
Net interest margin                  4.60             4.60               4.46                3.97             4.09                 4.60                  4.14
Efficiency ratio(1)                 36.19            36.03              45.09               42.46            45.56                36.11                 44.30
Asset quality data (at
period end):
Net
charge-offs/(recoveries)
to average loans held
for investment                       0.02 %           0.00 %             0.04 %              0.00 %           0.01 %               0.01 %                0.00 %
Nonperforming assets to
gross loans and OREO                 0.67             0.84               1.03                1.19             1.00                 0.67                  1.00
ALL to nonperforming
loans                              147.82            98.33              77.40               54.24            59.66               147.82                 59.66
ALL to loans held for
investment                           0.66             0.63               0.62                0.64             0.58                 0.66                  0.58


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