MCBS · MetroCity Bankshares, Inc.

Summary

MetroCity Bankshares, Inc. filed an amendment to report the completion of its merger with First IC Corporation on December 1, 2025. The filing provides historical financial statements of First IC and unaudited pro forma condensed combined financial information, reflecting total merger consideration of approximately $111.9 million in cash and 3,384,066 shares of Metro City common stock.

Key takeaways

• The Merger with First IC Corporation closed on December 1, 2025, with Metro City as the surviving corporation.
• Merger consideration consisted of $12.20 in cash and 0.3729 shares of Metro City common stock for each share of First IC common stock.
• Total consideration included approximately $111.9 million in cash and 3,384,066 shares of Metro City common stock.
• The transaction resulted in approximately $55.9 million of Goodwill and $12.7 million of Intangible assets.
• Pro forma total assets as of September 30, 2025, were approximately $4.82 billion.
• Estimated merger costs are $15.3 million pre-tax, or $11.7 million net of taxes.