MetroCity Bankshares completes acquisition of First IC Corporation for ~$110.6M cash and 3.38M shares

MetroCity Bankshares, Inc.

Each FIEB share converted into 0.3729 MCBS shares plus $12.19 cash; aggregate consideration ~3.38M shares and ~$110.6M cash.
Post-merger total assets ~$4.8B, total loans ~$4.0B, deposits ~$3.6B; 30 branches across eight states.
MCBS now has ~28.8M shares outstanding following the merger, effective December 1, 2025.
Acquisition supports MetroCity's enhanced competitive position and financial flexibility per CEO Nack Paek.

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