FIRST IC CORPORATION (FIEB) Stock Price, News & Analysis

FIRST IC CORPORATION (ticker symbol FIEB) is a financial services company that operated as the bank holding company for First IC Bank. According to public disclosures, First IC Bank was founded in 2000 and is headquartered in Doraville, Georgia. First IC Corporation’s common stock traded on the OTCEM exchange under the symbol FIEB and was classified in the Banks – Regional industry within the broader Financial Services sector.

First IC Corporation’s primary role was to own and oversee First IC Bank. The bank maintained ten banking locations and two loan production offices in several U.S. states, including California, Georgia, New Jersey, New York, Texas, and Washington. Through this structure, First IC Corporation functioned as a regional banking organization with a multi-state footprint, focusing on community and regional banking activities through its subsidiary.

On December 1, 2025, First IC Corporation underwent a significant corporate change. MetroCity Bankshares, Inc., the holding company for Metro City Bank, completed its acquisition of First IC Corporation and First IC Bank in a cash and stock transaction. The completion of this acquisition was announced on December 2, 2025, following prior regulatory approvals and approval by First IC’s shareholders. As a result of this transaction, First IC Corporation became part of MetroCity Bankshares, Inc., and FIEB represents a former, acquired company rather than an independent, ongoing public issuer.

Before the acquisition, First IC Corporation and MetroCity Bankshares, Inc. described themselves as competitors that had long operated in overlapping markets. The merger agreement between the two organizations was unanimously approved by the boards of directors of both companies. The parties stated that combining First IC Corporation and MetroCity Bankshares, Inc. was intended to create a stronger banking institution for customers, employees, and the communities they served.

Following the acquisition, MetroCity Bankshares, Inc. reported that the combined organization would have a larger asset base, loan portfolio, and deposit base, along with an expanded network of full-service branches and loan production offices across multiple states. While these combined figures relate to MetroCity after the transaction, they underscore that First IC Corporation was a meaningful regional banking platform prior to its integration into MetroCity.

For investors and researchers reviewing FIEB today, the ticker primarily has historical significance. It reflects the period when First IC Corporation operated as an independent bank holding company and traded on the OTCEM exchange. Corporate, financial, and strategic information about First IC Corporation is now best understood in the context of its combination with MetroCity Bankshares, Inc. and the resulting larger banking organization.

Business structure and operations

According to transaction-related disclosures, First IC Corporation’s business structure centered on its wholly owned subsidiary, First IC Bank. The bank’s network of ten banking locations and two loan production offices in California, Georgia, New Jersey, New York, Texas, and Washington provided the geographic footprint for the holding company. As a regional banking organization, First IC Corporation’s activities were tied to the performance and operations of First IC Bank.

Public communications about the merger emphasize that First IC Corporation and MetroCity Bankshares, Inc. had operated as competitors and that their combination was expected to enhance their ability to serve customers and communities. These statements highlight how First IC Corporation fit within the regional banking landscape, particularly in markets where both organizations were active.

Corporate history and acquisition

First IC Bank was founded in 2000, providing a clear starting point for the operating history of the First IC banking franchise. Over time, First IC Corporation emerged as the bank holding company for First IC Bank and listed its common stock on the OTCEM exchange under the symbol FIEB. This structure remained in place until the merger with MetroCity Bankshares, Inc.

The combination process unfolded in several steps. On March 17, 2025, MetroCity Bankshares, Inc. and First IC Corporation announced that they had signed a definitive merger agreement for MetroCity to acquire First IC and First IC Bank in a cash and stock transaction. The merger agreement was unanimously approved by the boards of directors of both companies. On July 15, 2025, the companies announced that MetroCity had received all required regulatory approvals and non-objections, and that First IC’s shareholders had voted to approve the merger. The merger was then expected to close subject to customary closing conditions.

On November 14, 2025, MetroCity Bankshares, Inc. and First IC Corporation announced that the merger was expected to be completed on December 1, 2025, again subject to remaining conditions. On December 2, 2025, MetroCity Bankshares, Inc. reported that it had completed its acquisition of First IC Corporation and First IC Bank after the close of business on December 1, 2025. From that point forward, First IC Corporation functioned as part of MetroCity Bankshares, Inc., and FIEB no longer represented an independent public banking company.

Status of FIEB as a former ticker

Because of the completed acquisition, FIEB should be viewed as the historical ticker for First IC Corporation prior to its integration into MetroCity Bankshares, Inc. Public announcements explicitly state that MetroCity Bankshares, Inc. acquired First IC Corporation and First IC Bank in a cash and stock transaction. As a result, investors researching FIEB are typically examining the history of First IC Corporation rather than a current, standalone issuer.

For ongoing information about the combined organization, investors are directed in the public communications to MetroCity Bankshares, Inc. and its filings and disclosures. Historical references to First IC Corporation, its asset base, and its branch network are therefore best interpreted as part of the background for the enlarged MetroCity banking organization after the merger.

Key characteristics of First IC Corporation (historical)

• Operated as the bank holding company for First IC Bank.
• First IC Bank was founded in 2000 and headquartered in Doraville, Georgia.
• Maintained ten banking locations and two loan production offices in California, Georgia, New Jersey, New York, Texas, and Washington.
• Traded on the OTCEM exchange under the ticker symbol FIEB.
• Classified in the Banks – Regional industry within the Financial Services sector.
• Was acquired by MetroCity Bankshares, Inc. in a cash and stock transaction that closed on December 1, 2025.