MetroCity Bankshares ( (MCBS) ) has shared an update.
On March 16, 2025, MetroCity Bankshares, Inc. and First IC Corporation announced a merger agreement, where First IC will merge into MetroCity, with MetroCity as the surviving entity. This strategic combination, valued at approximately $206 million, is expected to close in the fourth quarter of 2025, subject to regulatory and shareholder approvals. The merger will create a combined entity with significant strategic positioning, expected to deliver approximately 26% EPS accretion to MetroCity shareholders in the first full year, and enhance the competitive position of the combined bank.
More about MetroCity Bankshares
MetroCity Bankshares, Inc., headquartered in Doraville, Georgia, is a bank holding company for Metro City Bank, operating 20 banking offices across seven states. Its common stock trades on NASDAQ under the symbol ‘MCBS’. First IC Corporation, also based in Doraville, Georgia, is the bank holding company for First IC Bank, with ten banking locations and two loan production offices. Its common stock trades on the OTCEM exchange under the symbol ‘FIEB’.
YTD Price Performance: -12.41%
Average Trading Volume: 36,302
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $705.7M
See more data about MCBS stock on TipRanks’ Stock Analysis page.