MetroCity Bankshares Reports Strong Growth Driven by First IC Acquisition, Increases Dividend

summarizeSummary

MetroCity Bankshares reported a 6.2% increase in net income and a substantial 32.7% growth in total assets for 2025, largely due to the $202.3 million acquisition of First IC Corporation. The company also increased its quarterly dividend to $0.96 per share.

check_boxKey Events

• Completed First IC Acquisition

  On December 1, 2025, MetroCity Bankshares completed the acquisition of First IC Corporation for approximately $202.3 million, consisting of $90.5 million in equity and $111.9 million in cash. This transaction added $1.13 billion in total assets, $1.01 billion in loans, and $878.4 million in deposits.

• Increased Net Income and EPS

  Net income for the year ended December 31, 2025, increased by 6.2% to $68.5 million, up from $64.5 million in 2024. Basic earnings per share rose to $2.66 from $2.55 in the prior year.

• Significant Balance Sheet Expansion

  Total assets grew by 32.7% to $4.77 billion, and total deposits increased by 33.2% to $3.65 billion as of December 31, 2025, primarily driven by the First IC acquisition.

• Increased Quarterly Dividend

  The company declared a quarterly dividend of $0.96 per share in 2025, an increase from $0.83 per share in 2024, reflecting confidence in financial performance.

auto_awesomeAnalysis

MetroCity Bankshares' annual report highlights significant growth in 2025, primarily driven by the successful acquisition of First IC Corporation. This acquisition substantially expanded the company's asset base, loan portfolio, and deposits, positioning it for continued market presence. While nonperforming assets saw an increase, the company's capital ratios remain strong, and the allowance for credit losses was appropriately adjusted to reflect the acquired portfolio. The increase in the quarterly dividend signals management's confidence in future profitability and financial stability. Investors should note the integration progress of the acquired entity and ongoing asset quality trends in future reports.