Banking Recap

MetroCity Bankshares, Inc. Announces Acquisition

This is a bank holding company acquisition in the fig sector in which MetroCity Bankshares, Inc. (ticker MCBS) is acquiring First IC Corporation. The product group is M&A. The disclosed value is not stated in the source document(s).

Dec 2, 2025·SEC EDGAR (8-K)·pending regulatory·bank holding company acquisition

The facts are sourced from an 8-K filed with the SEC via EDGAR, published on December 2, 2025. The deal's current status is pending regulatory review.

Financial advisory roles are clearly delineated by side, with both advisors serving in a lead capacity and both rendering fairness opinions. Stephens Inc. served as lead financial advisor to First IC and rendered a fairness opinion to its board of directors, per the statement "Stephens Inc. acted as financial advisor to First IC and rendered a fairness opinion to its board of directors." On the acquirer side, Hillworth Bank Partners served as lead financial advisor to MetroCity and also rendered a fairness opinion to its board of directors, consistent with the language "Hillworth Bank Partners acted as financial advisor to MetroCity and rendered a fairness opinion to its board of directors."

Legal advisors are disclosed for both sides: Alston & Bird LLP served as legal counsel to First IC, the target, while Hunton Andrews Kurth LLP served as legal counsel to MetroCity, the acquirer.

Beyond the classification of this transaction as a bank holding company acquisition, no further detail on consideration structure, exchange ratio, or other specific terms is included in the facts provided.

Several items are not disclosed in this record: the transaction value is not stated, the consideration structure (cash, stock, or a mix) is not specified, and no expected closing date is given beyond the pending-regulatory status.