MetroCity Bankshares Expands Through Acquisition of First IC Corporation for Growth and Service Enhancement

MetroCity Bankshares Expands Its Reach Through Strategic Acquisition

MetroCity Bankshares, Inc., the holding company for Metro City Bank based in Doraville, Georgia, has successfully completed the acquisition of First IC Corporation, the parent company of First IC Bank, effective December 1, 2025. This merger represents a significant development in the banking landscape as MetroCity aims to enhance its competitive position and financial flexibility. Chairman and CEO Nack Paek highlights that the two organizations have long admired each other’s operations, making this partnership a logical step forward. The acquisition positions MetroCity to better serve its customers and the communities it operates in, as it combines resources and expertise from both banks.

With the completion of this merger, MetroCity Bankshares sees its total assets rise to approximately $4.8 billion, alongside total loans increasing to $4.0 billion and total deposits reaching $3.6 billion. The bank operates 30 full-service branches and two loan production offices across eight states, including Alabama, California, Florida, Georgia, New Jersey, New York, Texas, and Virginia. This geographical expansion allows MetroCity to tap into new markets while reinforcing its commitment to community-focused banking. The acquisition not only strengthens MetroCity’s financial foundation but also enhances its ability to deliver improved banking services to its growing customer base.

The strategic nature of this acquisition is further underscored by the advisory teams involved. Hillworth Bank Partners served as the financial advisor for MetroCity, while Hunton Andrews Kurth LLP acted as its legal counsel. On the other side, Stephens Inc. provided financial advisory services to First IC, with Alston & Bird LLP representing its legal interests. As MetroCity looks ahead, it emphasizes its commitment to growth and customer service, aiming to leverage the strengths of both organizations to foster community impact and enhance customer experience in the banking sector.

In light of this acquisition, stakeholders are encouraged to visit MetroCity's website for detailed investor relations information. The announcement also includes a cautionary note regarding forward-looking statements tied to the merger and its potential impacts, acknowledging the inherent risks and uncertainties that may affect future performance. This move indicates MetroCity Bankshares' proactive approach to strengthening its position in a competitive market and its dedication to serving its customers effectively.