MetroCity completes $202M First IC acquisition, adding $1.1B assets and 9 branches

Filed March 16, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 10, 2025 · ~2 min read

Key Changes

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  Acquired First IC Corporation for $202.3M ($90.5M stock, $111.9M cash) on Dec 1, 2025, adding $1.13B assets, $1.01B loans, $878M deposits, and 9 branches including California entry. Branch count expanded from 20 to 29 locations.

  Business: First IC acquisition verify on EDGAR →
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  Commercial real estate portfolio more than doubled to $1.56B (38.3% of loans) from $762M (24.1%), with non-owner-occupied CRE surging from 8.0% to 50.7% of CRE mix—a higher-risk profile reflecting acquired portfolio composition.

  Business: CRE concentration verify on EDGAR →
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  Nonaccrual CRE loans jumped to $14.8M from $3.3M, including $6.5M acquired from First IC plus $5.0M increase in legacy portfolio, signaling credit deterioration beyond the acquisition.

  Business: Nonaccrual CRE verify on EDGAR →