First IC Corporation
As of December 1, 2025, First IC Corporation was acquired by MetroCity Bankshares, Inc. First IC Corporation operates as the bank holding company for First IC Bank that provides retail and commercial banking products and services in the United States. The company provides personal and business checking and saving account, certificates of deposit, and IRA accounts. Its loan products include small … Read more
First IC Corporation (FIEB) - Net Assets
Latest net assets as of March 2025: $142.30 Million USD
Based on the latest financial reports, First IC Corporation (FIEB) has net assets worth $142.30 Million USD as of March 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.23 Billion) and total liabilities ($1.08 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $142.30 Million |
| % of Total Assets | 11.6% |
| Annual Growth Rate | 13.04% |
| 5-Year Change | 69.39% |
| 10-Year Change | N/A |
| Growth Volatility | 4.37 |
First IC Corporation - Net Assets Trend (2016–2024)
This chart illustrates how First IC Corporation's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for First IC Corporation (2016–2024)
The table below shows the annual net assets of First IC Corporation from 2016 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $145.47 Million | +12.24% |
| 2023-12-31 | $129.60 Million | +14.18% |
| 2022-12-31 | $113.51 Million | +8.09% |
| 2021-12-31 | $105.02 Million | +22.29% |
| 2020-12-31 | $85.88 Million | +9.27% |
| 2019-12-31 | $78.59 Million | +8.80% |
| 2018-12-31 | $72.23 Million | +15.47% |
| 2017-12-31 | $62.56 Million | +14.64% |
| 2016-12-31 | $54.57 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to First IC Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 584.7% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $84.26 Million | 57.93% |
| Common Stock | $45.34 Million | 31.17% |
| Other Comprehensive Income | $-3.29 Million | -2.26% |
| Other Components | $19.15 Million | 13.16% |
| Total Equity | $145.47 Million | 100.00% |
First IC Corporation Competitors by Market Cap
The table below lists competitors of First IC Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
King Polytechnic Engineering Co Ltd
TWO:6122
|
$94.16 Million |
|
Heartflow, Inc. Common Stock
NASDAQ:HTFL
|
$94.17 Million |
|
ICTK Co., Ltd.
KQ:456010
|
$94.19 Million |
|
Froch Enterprise Co Ltd
TW:2030
|
$94.28 Million |
|
Bridgemarq Real Estate Services Inc
PINK:BREUF
|
$94.13 Million |
|
Japan System Techniques Co. Ltd.
PINK:JAPPF
|
$94.10 Million |
|
Esso S.A.F.
PA:ES
|
$94.10 Million |
|
Northern Minerals Limited
PINK:NOURF
|
$94.09 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First IC Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 129,599,023 to 145,465,053, a change of 15,866,030 (12.2%).
- Net income of 24,699,883 contributed positively to equity growth.
- Dividend payments of 9,064,732 reduced retained earnings.
- Other comprehensive income increased equity by 212,108.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $24.70 Million | +16.98% |
| Dividends Paid | $9.06 Million | -6.23% |
| Other Comprehensive Income | $212.11K | +0.15% |
| Other Changes | $18.77K | +0.01% |
| Total Change | $- | 12.24% |
Book Value vs Market Value Analysis
This analysis compares First IC Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.08x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 3.34x to 1.08x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | $5.16 | $17.25 | x |
| 2017-12-31 | $5.92 | $17.25 | x |
| 2018-12-31 | $6.77 | $17.25 | x |
| 2019-12-31 | $7.85 | $17.25 | x |
| 2020-12-31 | $8.73 | $17.25 | x |
| 2021-12-31 | $10.87 | $17.25 | x |
| 2022-12-31 | $12.52 | $17.25 | x |
| 2023-12-31 | $14.29 | $17.25 | x |
| 2024-12-31 | $16.04 | $17.25 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First IC Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 16.98%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 40.66%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 8.20x
- Recent ROE (16.98%) is above the historical average (14.90%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2016 | 13.23% | 30.00% | 0.07x | 5.96x | $1.76 Million |
| 2017 | 12.79% | 27.99% | 0.07x | 6.46x | $1.75 Million |
| 2018 | 13.30% | 28.21% | 0.07x | 6.93x | $2.39 Million |
| 2019 | 13.10% | 23.70% | 0.06x | 8.97x | $2.44 Million |
| 2020 | 8.43% | 25.30% | 0.04x | 8.91x | $-1.35 Million |
| 2021 | 18.48% | 39.13% | 0.05x | 8.97x | $8.91 Million |
| 2022 | 18.86% | 39.09% | 0.05x | 9.06x | $10.06 Million |
| 2023 | 18.96% | 40.73% | 0.05x | 8.92x | $11.61 Million |
| 2024 | 16.98% | 40.66% | 0.05x | 8.20x | $10.15 Million |
Industry Comparison
This section compares First IC Corporation's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $25,670,820,700
- Average return on equity (ROE) among peers: 9.44%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First IC Corporation (FIEB) | $142.30 Million | 13.23% | 7.62x | $94.15 Million |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $4.91 Billion |
| ACNB Corporation (ACNB) | $2.75 Billion | 1.01% | 0.01x | $462.57 Million |
| Addiko Bank AG (ADBKF) | $839.50 Million | 5.41% | 6.63x | $210.07 Million |
| Affinity Bancshares Inc (AFBI) | $120.97 Million | 6.26% | 5.51x | $79.94 Million |
| Absa Group Limited (AGRPF) | $19.52 Billion | 23.08% | 14.72x | $6.72 Billion |
| AIB Group plc (AIBGY) | $14.46 Billion | -16.17% | 8.45x | $21.72 Billion |
| Akbank Turk Anonim Sirketi (AKBTY) | $211.22 Billion | 31.48% | 8.02x | $8.60 Billion |
| Alpha Bank SA (ALBKY) | $7.32 Billion | 8.44% | 8.89x | $1.12 Billion |
| Community Capital Bancshares Inc (ALBY) | $9.19 Million | 7.09% | 8.66x | $19.76 Million |
| Alpine Banks of Colorado (ALPIB) | $342.89 Million | 16.92% | 10.27x | $248.47 Million |