Metrocity Bankshares, Inc. and First IC Corporation have announced that their merger is expected to be completed on December 1, 2025, subject to the satisfaction of the remaining customary closing conditions. Metrocity, the holding company for Metro City Bank, operates 20 banking offices across seven states and had $3.6 billion in assets as of September 30, 2025. On the other hand, First IC Corporation, the parent company of First IC Bank, maintains ten banking locations and two loan production offices in several states and had $1.2 billion in assets as of the same date.
Hillworth Bank Partners acted as a financial advisor to Metrocity, while Stephens Inc. acted as a financial advisor to First IC. As the merger progresses, the two companies have been guided by legal counsel from Hunton Andrews Kurth LLP for Metrocity and Alston & Bird LLP for First IC.
These developments come after Metrocity received all required regulatory approvals and non-objections to complete its merger with First IC, as well as the approval of the First IC shareholders. The merger is expected to result in significant changes for both entities, and stakeholders will be closely watching for updates on the performance of the combined entity in the coming periods. Today the company's shares have moved 0.46% to a price of $26.25. If you want to know more, read the company's complete 8-K report here.
