---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-024220"
form_type: "8-K"
ticker: "MCBS"
cik: "0001747068"
company_name: "MetroCity Bankshares, Inc."
filed_at: "2025-03-17T23:59:59+00:00"
generated_at: "2026-05-24T15:56:43.454741+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# MetroCity Bankshares to acquire First IC Corp for ~$112M cash + 3.38M shares

## Summary
- Combined merger consideration: $111,965,213 cash (subject to adjustments) plus 3,384,588 shares of MCBS common stock.
- FIEB shareholders will receive per-share mix of cash and MCBS stock; FIEB options cashed out at spread above exercise price.
- Transaction expected to close in Q4 2025; requires FIEB shareholder, regulatory approvals including Fed, FDIC, Georgia DFI.
- FIEB can terminate if MCBS stock underperforms KBW Regional Bank Index by over 20% and average closing price falls below 80% of baseline.
- Voting agreements cover about 25% of FIEB shares; termination fee of $8.24M payable by FIEB under certain conditions.

## SEC filing metadata
- accession: 0001104659-25-024220
- form_type: 8-K
- ticker: MCBS
- cik: 0001747068
- company_name: MetroCity Bankshares, Inc.
- filed_at: 2025-03-17T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1747068/000110465925024220/0001104659-25-024220-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1747068/000110465925024220/tm259425d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-024220
- JSON: https://secwatch.observer/filing/0001104659-25-024220.json
- Plain text: https://secwatch.observer/filing/0001104659-25-024220.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.