---
schema_version: "secwatch.filing_event.v1"
accession: "0001747068-26-000007"
form_type: "8-K/A"
ticker: "MCBS"
cik: "0001747068"
company_name: "MetroCity Bankshares, Inc."
filed_at: "2026-02-12T23:59:59+00:00"
generated_at: "2026-05-16T03:05:12.210940+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# MetroCity Bankshares files First IC merger financials; total consideration $202M

## Summary
- 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.

## SEC filing metadata
- accession: 0001747068-26-000007
- form_type: 8-K/A
- ticker: MCBS
- cik: 0001747068
- company_name: MetroCity Bankshares, Inc.
- filed_at: 2026-02-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1747068/000174706826000007/0001747068-26-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1747068/000174706826000007/mcbs-20260212x8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001747068-26-000007
- JSON: https://secwatch.observer/filing/0001747068-26-000007.json
- Plain text: https://secwatch.observer/filing/0001747068-26-000007.txt

## Key facts
- M&A Transactions
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1747068/000174706826000007/0001747068-26-000007-index.htm

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