secwatch.observer — SEC 8-K summary
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Issuer:     MetroCity Bankshares, Inc. (MCBS)
CIK:        0001747068
Form:       8-K
Filed at:   2025-12-02T23:59:59+00:00
Accession:  0001747068-25-000065
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1747068/000174706825000065/0001747068-25-000065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1747068/000174706825000065/mcbs-20251201x8k.htm
  HTML page:      https://secwatch.observer/filing/0001747068-25-000065

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer