Core Viewpoint - MetroCity Bankshares, Inc. reported a strong financial performance for the fourth quarter and the year ended December 31, 2025, with significant increases in net income, driven by higher net interest income and noninterest income, alongside the successful acquisition of First IC Corporation. Financial Performance - The company reported net income of $18.3 million, or $0.68 per diluted share, for Q4 2025, up from $17.3 million, or $0.67 per diluted share, in Q3 2025, and $16.2 million, or $0.63 per diluted share, in Q4 2024 [1][5] - For the full year 2025, net income was $68.7 million, or $2.64 per diluted share, compared to $64.5 million, or $2.52 per diluted share, in 2024 [1][6] Acquisition Impact - MetroCity completed the acquisition of First IC Corporation on December 1, 2025, which is expected to enhance its competitive position and financial flexibility [4] Net Interest Income and Margin - Interest income for Q4 2025 was $60.3 million, an increase of $6.3 million, or 11.6%, from Q3 2025, primarily due to a rise in average loan balances [7] - The net interest margin for Q4 2025 was 3.73%, up from 3.68% in Q3 2025 and 3.57% in Q4 2024 [10] Noninterest Income - Noninterest income for Q4 2025 was $7.8 million, an increase of $1.6 million, or 26.5%, from Q3 2025, driven by higher gains on residential mortgage loans [12] - For the year ended December 31, 2025, noninterest income totaled $25.2 million, an increase of $2.1 million, or 9.2%, from 2024 [14] Noninterest Expense - Noninterest expense for Q4 2025 was $20.4 million, an increase of $5.8 million, or 39.3%, from Q3 2025, mainly due to merger-related expenses and increased salaries [15] - For the full year 2025, noninterest expense totaled $63.0 million, an increase of $9.6 million, or 18.1%, from 2024 [17] Balance Sheet and Asset Quality - Total assets were $4.8 billion at December 31, 2025, an increase of $1.14 billion, or 31.4%, from September 30, 2025 [20] - Loans held for investment increased to $4.05 billion, a rise of $1.08 billion, or 36.6%, from September 30, 2025 [22] - Nonperforming assets totaled $26.1 million, or 0.55% of total assets, at December 31, 2025, an increase from previous quarters [29] Efficiency and Returns - The efficiency ratio was 46.7% for Q4 2025, compared to 38.7% for Q3 2025 [18] - The annualized return on average assets was 1.80% for Q4 2025, down from 1.89% in Q3 2025 [11]

Core Insights - MetroCity Bankshares, Inc. reported a net income of $17.3 million for Q3 2025, reflecting a 2.6% increase from Q2 2025 and a 3.4% increase from Q3 2024 [1][3][4] - The company is set to complete its merger with First IC Corporation in Q4 2025, having received all necessary regulatory approvals [2] Financial Performance - Net income for the nine months ended September 30, 2025, was $50.4 million, up 4.4% from $48.3 million in the same period of 2024 [4] - Noninterest income for Q3 2025 was $6.2 million, a 7.8% increase from Q2 2025, driven by higher mortgage loan origination fees and service charges [9] - Noninterest expense for Q3 2025 totaled $14.7 million, a 4.0% increase from Q2 2025, primarily due to higher salaries and employee benefits [13] Interest Income and Expenses - Interest income for Q3 2025 was $54.0 million, a slight decrease of 0.1% from Q2 2025, attributed to a decrease in loan yield [5] - Interest expense increased to $22.2 million in Q3 2025, a 1.6% rise from Q2 2025, mainly due to higher costs associated with interest-bearing demand deposits [6] Asset Quality - The company recorded a credit provision for credit losses of $543,000 in Q3 2025, compared to $129,000 in Q2 2025 [23] - Nonperforming assets decreased to $14.0 million, or 0.38% of total assets, at September 30, 2025, down from $15.2 million at June 30, 2025 [24] Balance Sheet Highlights - Total assets increased to $3.63 billion at September 30, 2025, a 0.4% rise from June 30, 2025 [18] - Loans held for investment decreased to $2.96 billion, a 5.2% decline from June 30, 2025, primarily due to a decrease in residential mortgage loans [19] - Total deposits were $2.69 billion at September 30, 2025, showing a slight increase of 0.1% from June 30, 2025 [20] Efficiency and Returns - The efficiency ratio for Q3 2025 was 38.7%, compared to 37.2% in Q2 2025 [16] - Return on average assets was 1.89% for Q3 2025, up from 1.87% in Q2 2025 [10]

Financial Performance - MetroCity Bankshares reported net income of $16.8 million, or $0.65 per diluted share, for Q2 2025, an increase from $16.3 million in Q1 2025 and a slight decrease from $16.9 million in Q2 2024 [1][3] - For the first half of 2025, net income was $33.1 million, up from $31.6 million in the same period of 2024, representing a 4.9% increase [4] Revenue and Expenses - Net interest income for Q2 2025 was $32.2 million, an increase of $1.6 million from Q1 2025, driven by a rise in interest income [3][5] - Noninterest income for Q2 2025 was $5.7 million, a 5.1% increase from Q1 2025, attributed to higher gains on mortgage loans [9] - Noninterest expense totaled $14.1 million in Q2 2025, an increase of 2.3% from Q1 2025, primarily due to higher loan-related expenses and merger-related costs [13][14] Asset Quality - The provision for credit losses was $129,000 in Q2 2025, slightly down from $135,000 in Q1 2025, indicating stable asset quality [24] - Nonperforming assets decreased to $15.2 million, or 0.42% of total assets, down from $18.5 million in Q1 2025 [25][26] Balance Sheet - Total assets were $3.62 billion as of June 30, 2025, a decrease of $44 million from March 31, 2025, primarily due to declines in loans held for sale and investment [18] - Loans held for investment were $3.12 billion, a slight decrease from $3.13 billion in Q1 2025, but an increase from $3.09 billion in Q2 2024 [20] - Total deposits were $2.69 billion, down 1.7% from Q1 2025, reflecting a decrease in interest-bearing demand deposits [21][22] Merger Activity - MetroCity completed the acquisition of First IC Corporation and First IC Bank, with all regulatory approvals received, and the merger is expected to finalize in early Q4 2025 [2]

Financial Performance - MetroCity Bankshares reported net income of $16.3 million, or $0.63 per diluted share, for Q1 2025, a slight increase from $16.2 million in Q4 2024 and a significant rise from $14.6 million in Q1 2024 [1][4] - The annualized return on average assets was 1.85%, compared to 1.82% in Q4 2024 and 1.65% in Q1 2024 [10] - The annualized return on average equity was 15.67%, down from 15.84% in Q4 2024 but up from 15.41% in Q1 2024 [10] Income Statement Highlights - Net interest income for Q1 2025 was $30.6 million, an increase from $30.1 million in Q4 2024 and $27.1 million in Q1 2024 [28] - Noninterest income increased to $5.5 million in Q1 2025, up from $5.3 million in Q4 2024, but decreased from $5.6 million in Q1 2024 [9][12] - Noninterest expense decreased to $13.8 million in Q1 2025 from $14.3 million in Q4 2024, but increased from $12.4 million in Q1 2024 [13][14] Balance Sheet Overview - Total assets reached $3.66 billion as of March 31, 2025, an increase of $65.9 million from $3.59 billion at December 31, 2024 [16] - Loans held for investment were $3.13 billion, a decrease of $26.6 million from the previous quarter but an increase of $15.5 million from the same period last year [18] - Total deposits were $2.74 billion, showing a slight increase from the previous quarter but a decrease of $76.8 million from Q1 2024 [19] Acquisition Activity - MetroCity announced the acquisition of First IC Corporation and First IC Bank in a cash and stock transaction valued at approximately $112 million [2] - The merger is expected to close in Q4 2025, pending regulatory approvals and shareholder consent [2][3] Asset Quality - The provision for credit losses was $135,000 in Q1 2025, down from $202,000 in Q4 2024 [22] - Nonperforming assets totaled $18.5 million, or 0.51% of total assets, as of March 31, 2025, an increase from $14.7 million, or 0.40%, a year earlier [24] Key Ratios - The efficiency ratio improved to 38.3% in Q1 2025 from 40.5% in Q4 2024 [10][14] - The net interest margin increased to 3.67% in Q1 2025, up from 3.57% in Q4 2024 and 3.24% in Q1 2024 [10][7][8]

Core Viewpoint - MetroCity Bankshares, Inc. has announced a definitive merger agreement to acquire First IC Corporation and its subsidiary, First IC Bank, in a cash and stock transaction valued at approximately $206 million [1][2]. Financial Details - First IC shareholders will receive 3,384,588 shares of MetroCity common stock and $111,965,213 in cash, with the total consideration comprising approximately 46% stock and 54% cash [2]. - The implied purchase price is $22.71 per First IC common share, based on MetroCity's closing stock price of $27.78 on March 14, 2025 [2]. - The pro forma company will have approximately $4.8 billion in assets, $3.7 billion in deposits, and $4.1 billion in loans post-merger [3]. Strategic Positioning - The merger is expected to enhance the combined company's strategic positioning, allowing for increased investments in technology and growth [3]. - MetroCity shareholders are projected to see approximately 26% EPS accretion in the first full year post-merger, factoring in expected cost savings [3]. - The tangible book value payback period is estimated to be around 2.4 years [3]. Leadership Statements - Leaders from both companies expressed enthusiasm about the merger, highlighting the potential for improved services and opportunities for customers and employees [4]. - The merger is seen as a way to create a stronger banking institution that aligns with shared values and enhances community impact [4]. Timeline and Approvals - The merger is anticipated to close in the fourth quarter of 2025, pending regulatory approvals and shareholder consent from First IC [5]. Advisory Roles - Hillworth Bank Partners served as financial advisor to MetroCity, while Stephens Inc. acted as financial advisor to First IC [6].