MetroCity Bankshares, Inc. and First IC Corporation Receive Regulatory and Shareholder Approval of Strategic Combination

Core Viewpoint - MetroCity Bankshares, Inc. has received all necessary regulatory approvals to complete its merger with First IC Corporation, with First IC's shareholders voting in favor of the transaction [1][2]. Group 1: Merger Details - The merger is expected to be finalized in early Q4 2025, pending customary closing conditions [2]. - MetroCity's Chairman and CEO, Nack Y. Paek, expressed appreciation for the regulatory approval and shareholder support [2]. - First IC's Chairman, Chong Chun, also acknowledged the support from shareholders and looks forward to completing the merger [2]. Group 2: Company Profiles - MetroCity Bankshares, Inc. operates Metro City Bank with 20 banking offices across seven states and had $3.7 billion in assets as of March 31, 2025 [4]. - First IC Corporation, which operates First IC Bank, has ten banking locations and two loan production offices, with $1.2 billion in assets as of March 31, 2025 [5].