09:46 AM EST, 11/14/2025 (MT Newswires) -- MetroCity Bankshares' ( MCBS ) acquisition of bank holding company First IC is expected to close on Dec. 1, the companies said Friday.

The companies announced in March that MetroCity would acquire First IC for approximately $206 million based on an implied acquisition price of $22.71 per First IC share.

Under the terms of the deal, First IC shareholders will receive about 3.4 million MetroCity common shares and about $112 million in cash.

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