MetroCity Q1 net income $16.3M ($0.63 EPS); acquisition of First IC for $112M cash+stock

MetroCity Bankshares, Inc.

2025-Q1 EPS reported $0.63

Net income $16.3M, up 0.4% from Q4 2024 and 11.4% from Q1 2024; Diluted EPS $0.63.
Annualized ROAA 1.85%, NIM 3.67% (up 10bps QoQ), efficiency ratio 38.3%.
Acquisition of First IC Corporation: 3.38M shares + $112M cash, expected close Q4 2025.
First IC had ~$1.2B assets as of 3/31/25; pro forma combined assets ~$4.8B.
Merger-related expenses of $262K in Q1; provision for credit losses $135K.

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