MetroCity Bankshares, Inc. (MCBS): M&A transaction — MetroCity Bankshares files First IC merger financials; total consideration $202M

MetroCity Bankshares, Inc.

Total merger consideration: $202.3M consisting of 3.38M shares and $110.7M cash plus $1.1M for option cancellations.
Pro forma net income $92.5M and diluted EPS $3.23 for FY2024; $65.2M and $2.24 for 9mo 2025.
Goodwill of $55.9M and core deposit intangible of $12.7M recorded on balance sheet.
Preliminary purchase price allocation shows net assets acquired at fair value of $146.4M.
First IC contributed $1.04B loans and $919M deposits at 9/30/25 fair values.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

MetroCity Bankshares, Inc. completed an acquisition involving First IC Corporation for 0.3729 shares of Metro City's common stock and $12.20 in cash, with cash also to be paid in lieu of fractional shares. Total merger consideration payable to equ (closed 2025-12-01).

Action: acquisition
Counterparty: First IC Corporation
Consideration: 0.3729 shares of Metro City's common stock and $12.20 in cash, with cash also to be paid in lieu of fractional shares. Total merger consideration payable to equ
Closing: 2025-12-01

Exact text from the filing

with and into Metro City, with Metro City as the surviving corporation (the “Merger”), and each share of First IC common stock outstanding was converted into the right to receive 0.3729 shares of Metro City's common stock and $12.20 in cash, with cash also to be paid in lieu of fractional shares. Total merger consideration payable to equity-holders consisted of

View on SEC.gov

31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

MetroCity Bankshares, Inc. filing history →

Source: SEC EDGAR

accession 0001747068-26-000007

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.