Welcome to our dedicated page for First Ic news (Ticker: FIEB), a resource for investors and traders seeking the latest updates and insights on First Ic stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect First Ic's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of First Ic's position in the market.
MetroCity Bankshares (NASDAQ: MCBS) and First IC announced a strategic merger agreement where MetroCity will acquire First IC in a combined cash and stock transaction valued at approximately $206 million. The deal structure includes 3,384,588 MetroCity shares and $111,965,213 in cash, representing a 46% stock and 54% cash split.
First IC brings $1.2 billion in total assets, $975 million in deposits, and $993 million in loans. The combined entity will have approximately $4.8 billion in assets, $3.7 billion in deposits, and $4.1 billion in loans. The merger is projected to deliver ~26% EPS accretion to MetroCity shareholders in the first full year with expected cost savings, with a tangible book value payback period of approximately 2.4 years.
The transaction, unanimously approved by both boards, is expected to close in Q4 2025, subject to regulatory approvals and First IC shareholder approval.
