MCBS Overview

Merger Announcement: MetroCity Bankshares, Inc. and First IC Corporation have received all necessary regulatory approvals to complete their merger, expected to finalize on December 1, 2025.

Advisors Involved: Hillworth Bank Partners and Stephens Inc. served as financial advisors for MetroCity and First IC, respectively, providing fairness opinions to their boards of directors.

Company Profiles: MetroCity Bank operates 20 banking offices across seven states with $3.6 billion in assets, while First IC Bank has ten locations and $1.2 billion in assets.

Forward-Looking Statements: The announcement includes caution regarding forward-looking statements, highlighting potential risks and uncertainties that could affect the merger's success and future performance.

Quarterly Profit Increase: MetroCity Bankshares, Inc. reported a third-quarter profit of $17.27 million, up from $16.70 million the previous year, translating to earnings per share of $0.67 compared to $0.65 last year.

Revenue Growth: The company's revenue rose by 5.0% to $31.79 million, an increase from $30.28 million in the same quarter last year.

Financial Performance: MetroCity Bankshares reported a net income of $17.3 million for Q3 2025, a slight increase from $16.8 million in Q2 2025 and $16.7 million in Q3 2024, with a year-to-date net income of $50.4 million, up 4.4% from the previous year.

Key Metrics: The annualized return on average assets was 1.89%, and the return on average equity was 15.69%. The efficiency ratio increased to 38.7%, while the net interest margin decreased to 3.68% compared to the previous quarter.

Loan and Deposit Trends: Total loans increased by $71.6 million to $3.20 billion from Q2 2025, while total deposits remained stable at $2.69 billion, reflecting a slight increase from the previous quarter.

Merger Update: MetroCity received regulatory approvals for its merger with First IC Corporation, expected to be completed in Q4 2025, which aims to enhance its market presence and operational capacity.