October 28, 2010

MetroCorp Bancshares, Inc. Announces Third Quarter 2010 Net Income of $637,000

HOUSTON, Oct 28, 2010 (GlobeNewswire via COMTEX News Network) -- MetroCorp Bancshares, Inc. (Nasdaq:MCBI), a Texas corporation, which provides community banking services through its subsidiaries, MetroBank, N.A., serving Texas, and Metro United Bank, serving California, today announced the operating results for the third quarter of 2010.

Third Quarter Highlights

  --  Net income of $637,000 for the third quarter of 2010, compared with net
      income of $1.1 million for the third quarter of 2009 and $84,000 for the
      second quarter of 2010.
  --  Total nonperforming assets declined $17.3 million or 16.8% compared with
      December 31, 2009, but increased $5.7 million or 7.1% for the third
      quarter of 2010 to $85.6 million compared with the second quarter of
      2010.
  --  Net interest margin was 3.77% for the third quarter of 2010 compared
      with 3.86% for the third quarter of 2009 and 3.75% for the second
      quarter of 2010.
  --  Net interest income was $14.2 million for the third quarter of 2010
      compared with $14.6 million for the third quarter of 2009 and $14.2
      million for the second quarter of 2010.
  --  Provision for loan losses for the third quarter of 2010 was $4.7 million
      compared with $3.6 million for the third quarter of 2009 and $2.4
      million for the second quarter of 2010.
  --  Allowance for loan losses was 2.95% of total loans at September 30, 2010
      compared with 2.31% at December 31, 2009, and 2.94% at June 30, 2010.
  --  Total risk-based capital ratio increased to 15.14% at September 30, 2010
      compared with 13.80% at December 31, 2009, and 14.55% at June 30, 2010.


George M. Lee, Executive Vice Chairman, President and CEO of MetroCorp Bancshares, Inc. stated, "Management was encouraged by the company's net income of $637,000 for third quarter compared with the second quarter net income of $84,000, in spite of a higher loan loss provision of $4.7 million for third quarter compared with $2.4 million for second quarter 2010. The company's capital ratios also improved as a result of the issuance of $2.9 million in common stock in a private placement in September. Total risk-based capital ratio, Tier-1 capital ratio and the leverage ratio as of September 30, 2010 were 15.14%, 13.87% and 10.96%, respectively, representing an improvement from their levels as of June 30, 2010 of 14.55%, 13.28% and 10.68%, respectively. Nonperforming assets as of September 30, 2010 increased by $5.7 million compared with their level at June 30, 2010; however, subsequent to September 30, 2010, nonperforming assets were reduced by approximately $1.8 million due to the sale of two ORE commercial properties and the payoff of one nonaccrual loan.

"We believe the economies of the local markets we serve have stabilized, but their recovery, if any, is at a tortuously slow pace. We are maintaining a cautious outlook for the next two or three quarters, and will remain aggressive in scrutinizing our loan portfolio, while maintaining a conservative underwriting policy towards new loans and loan renewals. We will continue to focus on controlling our noninterest expense. With stringent management of our balance sheet as another priority, we seek to maintain or improve our net interest margin going forward."

Interest income and expense

Net interest income before the provision for loan losses for the three months ended September 30, 2010 was $14.2 million, a decrease of $366,000 or 2.5% compared to $14.6 million for the same period in 2009. The decrease was due primarily to a decline in average total loans, partially offset by lower deposit costs. Net interest income before the provision for loan losses for the nine months ended September 30, 2010 was $43.0 million, an increase of $1.9 million or 4.6% compared to $41.1 million for the same period in 2009. The increase was due primarily to lower deposit costs. On a linked-quarter basis, net interest income before the provision for loan losses was unchanged at $14.2 million.

The net interest margin for the three months ended September 30, 2010 was 3.77%, a decrease of 9 basis points compared with 3.86% for the same period in 2009. The yield on average earning assets decreased 69 basis points, and the cost of average earning assets decreased 60 basis points for the same periods. On a linked-quarter basis, the net interest margin for the three months ended September 30, 2010 increased 2 basis points compared with 3.75% for the three months ended June 30, 2010. The yield on average earning assets decreased 11 basis points, and the cost of average earning assets decreased 13 basis points compared with the yields at June 30, 2010.

The net interest margin for the nine months ended September 30, 2010 was 3.82%, an increase of 19 basis points compared with 3.63% for the same period in 2009. The yield on average earning assets decreased 53 basis points, and the cost of average earning assets decreased 72 basis points for the same periods.

Interest income for the three months ended September 30, 2010 was $19.2 million, down $2.6 million or 11.9% compared to $21.8 million for the same period in 2009, primarily due to lower loan volume and yield. Average earning assets remained stable at $1.50 billion for the third quarters of 2010 and 2009. Average total loans decreased 8.9% to $1.20 billion in the third quarter of 2010 compared with $1.32 billion for the third quarter of 2009. The yield on average earning assets for the third quarter of 2010 was 5.08% compared with 5.77% for the third quarter of 2009.

Interest income for the nine months ended September 30, 2010 was $59.1 million, down $6.5 million or 9.8% compared to $65.6 million for the same period in 2009, primarily due to lower volume and yield on loans. Average earning assets decreased 0.8% to $1.50 billion for the nine months ended September 30, 2010 compared with the same period in 2009. Average total loans decreased 6.7% to $1.24 billion for the nine months ended September 30, 2010 compared with $1.33 billion for the same period in 2009. The yield on average earning assets for the nine months ended September 30, 2010 was 5.26% compared with 5.79% for the same period of 2009.

Interest expense for the three months ended September 30, 2010 was $5.0 million, down $2.2 million or 31.0% compared to $7.2 million for the same period in 2009, primarily due to lower cost of funds. Average interest-bearing deposits were $1.13 billion for the third quarter of 2010, a decrease of $21.3 million or 1.8% compared with $1.15 billion for the same period of 2009. The cost of interest-bearing deposits for the third quarter of 2010 was 1.46% compared with 2.22% for the third quarter of 2009. Average other borrowings, excluding junior subordinated debentures, were $56.8 million for the third quarter of 2010, an increase of $28.0 million or 97.1% compared to $28.8 million for the third quarter of 2009. The cost of other borrowings for the third quarter of 2010 was 2.00% compared with 3.31% for the third quarter of 2009.

Interest expense for the nine months ended September 30, 2010 was $16.2 million, down $8.3 million or 34.0% compared to $24.5 million for the same period in 2009, primarily due to lower cost of funds. Average interest-bearing deposits were $1.16 billion for the nine months ended September 30, 2010, an increase of $4.1 million or 0.4% compared with $1.15 billion for the same period of 2009. The cost of interest-bearing deposits for the nine months ended September 30, 2010 was 1.60% compared with 2.58% for the same period of 2009. Average other borrowings, excluding junior subordinated debentures, were $43.8 million for the nine months ended September 30, 2010, a decrease of $3.6 million or 8.9% compared to $40.2 million for the same period of 2009. The cost of other borrowings for the nine months ended September 30, 2010 was 2.44% compared with 2.55% for the same period of 2009.

Noninterest income and expense

Noninterest income for the three months ended September 30, 2010 was $1.8 million, a decrease of $204,000 or 10.4% compared to the same period in 2009. The decrease was primarily due to a decline in gains on securities, partially offset by a decline in other than temporary impairment ("OTTI") on securities. Noninterest income for the nine months ended September 30, 2010 was $5.1 million, a decrease of $386,000 or 7.0% compared to the same period in 2009. The decrease was primarily due to declines in gains on securities and letters of credit commissions and fees, partially offset by a decline in OTTI on securities.

Noninterest expense for the three months ended September 30, 2010 was $10.9 million, a decrease of $427,000 or 3.8% compared with the same period in 2009. The decrease was mainly the result of lower expenses related to ORE and decreases in FDIC assessments, partially offset by an increase salaries and employee benefits. The decrease in FDIC assessments was primarily due to the one-time emergency special FDIC assessment that occurred during the third quarter of 2009.

Noninterest expense for the nine months ended September 30, 2010 was $37.1 million, an increase of $3.4 million or 10.0% compared with the same period in 2009. The increase was primarily the result of higher expenses related to ORE and a $2.0 million goodwill impairment charge that was recorded in the first quarter of 2010, partially offset by a decrease in other noninterest expense. Other noninterest expense decreased across most functional areas, but the decline was primarily the result of a lower provision for unfunded commitments.

Salaries and employee benefits expense for the three months ended September 30, 2010 was $5.1 million, an increase of $209,000 or 4.3% compared to $4.9 million for the same period in 2009. The increase was primarily due to a rise in employee healthcare costs, thrift plan matching and stock-based compensation costs. Salaries and employee benefits expense for the nine months ended September 30, 2010 was $15.4 million, a decrease of $65,000 or 0.4% compared to $15.5 million for the same period in 2009. The decrease was primarily due to lower salaries which were partially offset by increases in employee healthcare costs, thrift plan matching and stock-based compensation costs.

Provision for loan losses

The following table summarizes the provision for loan losses and net charge-offs as of and for the quarters indicated:



                                        September               December    September
                                          30,       June 30,      31,         30,
                                          2010        2010        2009        2009
                                       ----------  ----------  ----------  ----------
                                                   (dollars in thousands)

  Allowance for Loan Losses
  -----------------------------------
  Balance at beginning of quarter         $36,004     $34,732     $25,603     $24,266
  Provision for loan losses for
   quarter                                  4,700       2,430      13,003       3,596

  Net charge-offs for quarter             (6,060)     (1,158)     (9,203)     (2,259)
                                       ----------  ----------  ----------  ----------

  Balance at end of quarter               $34,644     $36,004     $29,403     $25,603
                                       ==========  ==========  ==========  ==========

  Total loans                          $1,173,567  $1,225,022  $1,273,997  $1,311,538
  Allowance for loan losses to total
   loans                                    2.95%       2.94%       2.31%       1.95%
  Net charge-offs to total loans          (0.52)%     (0.09)%     (0.72)%     (0.17)%

The provision for loan losses for the three months ended September 30, 2010 was $4.7 million, an increase of $1.1 million compared with $3.6 million for the same period in 2009. The provision for loan losses for the nine months ended September 30, 2010 was $15.0 million, an increase of $2.3 million compared with $12.7 million for the same period in 2009. The increase for the three and nine months ended September 30, 2010 was primarily due to an increase in nonperforming loans compared with their level at September 30, 2009, and changes in the assumptions used in the qualitative component that reflects current market conditions in the methodology the Company employs for determining the allowance for loan losses. On a linked-quarter basis, the provision for loan losses in the third quarter of 2010 increased $2.3 million to $4.7 million compared with $2.4 million for the second quarter of 2010, primarily as a result of additional provisioning that was required for new nonperforming loans and higher charge-offs.

Net charge-offs for the three months ended September 30, 2010 were $6.1 million or (0.52)% of total loans compared with net charge-offs of $2.3 million or (0.17)% of total loans for the three months ended September 30, 2009. The charge-offs primarily consisted of $5.5 million in loans from Texas and $592,000 in loans from California. Approximately $2.4 million of the charge-offs had associated specific reserves. Net charge-offs for the nine months ended September 30, 2010 were $9.8 million or (0.83)% of total loans compared with net charge-offs of $11.3 million or (0.86)% of total loans for the nine months ended September 30, 2009.

Asset Quality

The following table summarizes nonperforming assets as of the dates indicated:


                                                 September   June    December
                                                   30,        30,       31,
                                                   2010      2010      2009
                                                ----------  -------  --------
                                                   (dollars in thousands)

  Nonperforming Assets
  --------------------------------------------
  Nonaccrual loans                                 $51,464  $41,662   $58,236
  Accruing loans 90 days or more past due               --      227       420
  Troubled debt restructurings - accruing            1,319    6,970     4,927
  Troubled debt restructurings -- nonaccruing       16,645   12,549    16,993

  Other real estate ("ORE")                         16,141   18,483    22,291
                                                ----------  -------  --------

    Total nonperforming assets                      85,569   79,891   102,867
                                                ==========  =======  ========

  Total nonperforming assets to total assets         5.46%    4.92%     6.47%

Total nonperforming assets at September 30, 2010 were $85.6 million compared with $102.9 million at December 31, 2009, a decrease of $17.3 million or 16.8%. The ratio of total nonperforming assets to total assets decreased to 5.46% at September 30, 2010 from 6.47% at December 31, 2009.

On a linked-quarter basis, total nonperforming assets increased by $5.7 million, of which $3.7 million was in Texas and $2.0 million in California. The increase in nonperforming assets in Texas consists of an increase of $7.6 million in non-accrual loans, which were partially offset by decreases of $2.2 million in ORE, $1.3 million in troubled debt restructurings ("TDRs") - accruing and $227,000 in loans over 90 days past due. The increase in nonperforming assets in California consists primarily of increases of $4.2 million in TDRs - nonaccruing and $2.6 million in nonaccrual loans, partially offset by decreases of $4.3 million in troubled debt restructurings and $119,000 in ORE.

On a linked-quarter basis, ORE decreased by approximately $2.3 million compared with June 30, 2010, which included reductions in Texas of $2.2 million. The reductions included the sale of a commercial land parcel, residential unit and a commercial property. These reductions were partially offset by additions into ORE in Texas, which included a retail center and residential patio homes. The $119,000 decline in ORE in California was the result of write-downs on two properties.

Subsequent to September 30, 2010, nonperforming assets in Texas were reduced by approximately $1.8 million from the sale of two ORE commercial properties and the payoff of one nonaccrual loan.

Approximately $63.6 million of the nonaccrual loans and TDRs - nonaccruing are collateralized by real estate, which represented 93.3% of total nonaccrual loans and TDRs - nonaccruing at September 30, 2010. Management has been aggressive in identifying problem loans but continued weak economic conditions could cause further deterioration in the loan portfolio. Management is closely monitoring the loan portfolio and diligently working on problem loan resolutions.

Management conference call. On Friday, October 29, 2010, the Company will hold a conference call at 10:00 a.m. Central (11:00 a.m. Eastern) to discuss the third quarter 2010 results. A brief management presentation will be followed by a question and answer period. To participate by phone, U.S. callers may dial 1.877.407.8291(International callers may dial 1.201.689.8345) and ask for the MetroCorp conference. The call will be webcast by Shareholder.com and can be accessed at MetroCorp's web site at www.metrobank-na.com. An audio archive of the call will be available approximately one hour after the call and will be accessible at www.metrobank-na.com in the Investor Relations section.

MetroCorp Bancshares, Inc., provides a full range of commercial and consumer banking services through its wholly owned subsidiaries, MetroBank, N.A. and Metro United Bank. The Company has thirteen full-service banking locations in the greater Houston and Dallas, Texas metropolitan areas, and six full service banking locations in the greater San Diego, Los Angeles and San Francisco, California metropolitan areas. As of September 30, 2010, the Company had consolidated assets of $1.6 billion. For more information, visit the Company's web site at www.metrobank-na.com.

The MetroCorp Bancshares Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2894

The statements contained in this release that are not historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe the Company's future plans, projections, strategies and expectations, are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the Company's control. Important factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to, the following: (1) general business and economic conditions in the markets the Company serves may be less favorable than expected which could decrease the demand for loan, deposit and other financial services and increase loan delinquencies and defaults; (2) changes in the interest rate environment which could reduce the Company's net interest margin; (3) the failure of or changes in management's assumptions regarding the adequacy of the allowance for loan losses; (4) an adverse change in the real estate market in the Company's primary market areas; (5) legislative or regulatory developments including changes in laws concerning taxes, banking, securities, insurance and other aspects of the financial securities industry; (6) the effect of compliance, or failure to comply within stated deadlines of the provisions of the Formal Agreement between MetroBank and the Office of the Comptroller of the Currency; (7) the effect of compliance, or failure to comply within stated deadlines of the provisions of the Consent Order between Metro United Bank and the Federal Deposit Insurance Corporation and the California Department of Financial Institutions; (8) increases in the level of nonperforming assets (9) changes in the availability of funds which could increase costs or decrease liquidity; (10) the effects of competition from other financial institutions operating in the Company's market area and elsewhere, including institutions operating locally, regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; (11) changes in accounting principles, policies or guidelines; (12) a deterioration or downgrade in the credit quality and credit agency ratings of the securities in the Company's securities portfolio; (13) the incurrence and possible impairment of goodwill associated with an acquisition; and (14) the Company's ability to adapt successfully to technological changes to meet customers' needs and developments in the marketplace. All written or oral forward-looking statements are expressly qualified in their entirety by these cautionary statements. These and other risks and factors are further described from time to time in the Company's 2009 annual report on Form 10-K and other reports and other documents filed with the Securities and Exchange Commission.

                   MetroCorp Bancshares, Inc.
              (In thousands, except share amounts)
                           (Unaudited)

                                     September    December 31,
                                      30, 2010        2009
                                    ------------  ------------

  Consolidated Balance Sheets
  --------------------------------
  Assets
  Cash and due from banks               $ 24,721      $ 26,087
  Federal funds sold and other
   short-term investments                127,702        82,006
                                    ------------  ------------
    Total cash and cash
     equivalents                         152,423       108,093
  Securities available-for-sale,
   at fair value                         156,386        98,368
  Securities held-to-maturity, at
   cost (fair value $4,517 at
   September 30, 2010 and $4,352
   at December 31, 2009)                   4,044         4,044
  Other investments                        7,038        21,577
  Loans, net of allowance for loan
   losses of $34,644 and $29,403,
   respectively                        1,138,923     1,244,594
  Accrued interest receivable              4,854         5,161
  Premises and equipment, net              5,663         6,042
  Goodwill                                17,327        19,327
  Core deposit intangibles                   234           329
  Customers' liability on
   acceptances                             7,484         3,011
  Foreclosed assets, net                  16,141        22,291
  Cash value of bank owned life
   insurance                              29,617        28,526
  Prepaid FDIC assessment                  8,404        10,637

  Other assets                            18,921        17,548
                                    ------------  ------------

   Total assets                      $ 1,567,459   $ 1,589,548
                                    ============  ============

  Liabilities and Shareholders'
   Equity
  Deposits:
   Noninterest-bearing                 $ 198,507     $ 203,427

   Interest-bearing                    1,101,462     1,160,740
                                    ------------  ------------
    Total deposits                     1,299,969     1,364,167
  Junior subordinated debentures          36,083        36,083
  Other borrowings                        56,205        25,513
  Accrued interest payable                   555           625
  Acceptances outstanding                  7,484         3,011

  Other liabilities                        7,379         4,843
                                    ------------  ------------
   Total liabilities                   1,407,675     1,434,242
  Commitments and contingencies               --            --
  Shareholders' Equity:
   Preferred stock, $1.00 par
    value, 2,000,000 shares
    authorized; 45,000 shares
    issued and outstanding at
    September 30, 2010 and
    December 31, 2009                     45,391        44,718
   Common stock, $1.00 par value,
    50,000,000 shares authorized;
    13,230,315 and 10,994,965
    shares issued and 13,230,315
    shares and 10,926,315 shares
    outstanding at September 30,
    2010 and December 31, 2009,
    respectively                          13,230        10,995
   Additional paid-in-capital             33,155        29,114
   Retained earnings                      68,043        72,505
   Accumulated other comprehensive
    loss                                    (35)       (1,106)

   Treasury stock, at cost                    --         (920)
                                    ------------  ------------

    Total shareholders' equity           159,784       155,306
                                    ------------  ------------
    Total liabilities and
     shareholders' equity            $ 1,567,459   $ 1,589,548
                                    ============  ============
                                              --            --

  Nonperforming Assets and Asset
   Quality Ratios
  --------------------------------
  Nonaccrual loans                      $ 51,464      $ 58,236
  Accruing loans 90 days or more
   past due                                   --           420
  Troubled debt restructurings -
   accruing                                1,319         4,927
  Troubled debt restructurings -
   nonaccruing                            16,645        16,993

  Other real estate ("ORE")               16,141        22,291
                                    ------------  ------------
  Total nonperforming assets              85,569       102,867

  Total nonperforming assets to
   total assets                           5.46 %        6.47 %
  Total nonperforming assets to
   total loans and ORE                    7.19 %        7.94 %
  Allowance for loan losses to
   total loans                            2.95 %        2.31 %
  Allowance for loan losses to
   total nonperforming loans             49.90 %       36.49 %
  Net year-to-date charge-offs to
   total loans                            0.83 %        1.61 %
  Net year-to-date charge-offs           $ 9,787      $ 20,545
  Total loans to total deposits          90.28 %       93.39 %

                               MetroCorp Bancshares, Inc.
                        (In thousands, except per share amounts)
                                       (Unaudited)



                                   For the Three Months        For the Nine Months
                                   Ended September 30,         Ended September 30,
                                --------------------------  --------------------------

                                    2010          2009          2010          2009
                                ------------  ------------  ------------  ------------

  Average Balance Sheet Data
  ----------------------------
  Total assets                   $ 1,603,884   $ 1,606,232   $ 1,611,074   $ 1,613,146
  Securities                         136,932       117,123       115,674       109,477
  Total loans                      1,203,013     1,320,601     1,238,835     1,327,198
  Allowance for loan losses         (37,568)      (24,918)      (34,766)      (24,525)
  Net loans                        1,165,445     1,295,683     1,204,069     1,302,673
  Total interest-earning
   assets                          1,500,972     1,500,854     1,502,310     1,514,312
  Total deposits                   1,335,209     1,363,723     1,357,649     1,360,254
  Other borrowings and junior
   subordinated debt                  92,874        64,891        79,854        76,279
  Total shareholders' equity         158,121       164,514       157,560       162,368


  Income Statement Data
  ----------------------------
  Interest income:
   Loans                            $ 17,960      $ 20,654      $ 55,717      $ 61,791
   Securities:
    Taxable                              977           965         2,590         3,048
    Tax-exempt                           117            85           356           210
   Federal funds sold and
    other short-term
    investments                          165           118           473           536
                                ------------  ------------  ------------  ------------
     Total interest income            19,219        21,822        59,136        65,585
  Interest expense:
   Time deposits                       2,863         4,687         9,410        15,991
   Demand and savings deposits         1,301         1,761         4,397         6,190

   Other borrowings                      806           759         2,357         2,327
                                ------------  ------------  ------------  ------------
     Total interest expense            4,970         7,207        16,164        24,508
  Net interest income                 14,249        14,615        42,972        41,077

  Provision for loan losses            4,700         3,596        15,028        12,710
                                ------------  ------------  ------------  ------------
  Net interest income after
   provision for loan losses           9,549        11,019        27,944        28,367
  Noninterest income:
   Service fees                        1,222         1,134         3,384         3,309
   Loan-related fees                      91           136           305           429
   Letters of credit
    commissions and fees                 185           256           570           769
   Gain on securities, net                31           347            76           356

   Total other-than-temporary
    impairment ("OTTI") on
    securities                         (212)         (804)         (495)       (1,984)
    Less: Noncredit portion of
     "OTTI"                               48           454           135         1,335
                                ------------  ------------  ------------  ------------
     Net impairments on
      securities                       (164)         (350)         (360)         (649)

   Other noninterest income              396           442         1,173         1,320
                                ------------  ------------  ------------  ------------
     Total noninterest income          1,761         1,965         5,148         5,534
  Noninterest expense:
   Salaries and employee
    benefits                           5,073         4,864        15,430        15,495
   Occupancy and equipment             1,882         2,014         5,780         6,006
   Foreclosed assets, net              1,088         1,320         5,367         2,740
   FDIC assessment                       881         1,027         2,471         2,712
   Goodwill impairment                    --            --         2,000            --

   Other noninterest expense           1,935         2,061         6,024         6,738
                                ------------  ------------  ------------  ------------
     Total noninterest expense        10,859        11,286        37,072        33,691
  Income (loss) before
   provision for income taxes            451         1,698       (3,980)           210
  Provision (benefit) for
   income taxes                        (186)           560       (1,323)          (46)
                                ------------  ------------  ------------  ------------

  Net income (loss)                    $ 637       $ 1,138     $ (2,657)         $ 256
                                ============  ============  ============  ============

  Dividends and discount -
   preferred stock                   $ (605)       $ (599)     $ (1,805)     $ (1,701)
                                ------------  ------------  ------------  ------------
  Net income (loss) applicable
   to common stock                      $ 32         $ 539     $ (4,462)     $ (1,445)
                                ============  ============  ============  ============


  Per Share Data
  ----------------------------
  Earnings (loss) per common
   share - basic                      $ 0.00        $ 0.05      $ (0.38)      $ (0.13)
  Earnings (loss) per common
   share - diluted                      0.00          0.05        (0.38)        (0.13)
  Weighted average common
   shares outstanding:
   Basic                              12,329        10,915        11,712        10,899
   Diluted                            12,345        10,923        11,712        10,899
  Dividends per common share            $ --          $ --          $ --        $ 0.04


  Performance Ratio Data
  ----------------------------
  Return on average assets            0.16 %        0.28 %      (0.22) %        0.02 %
  Return on average
   shareholders' equity               1.60 %        2.74 %      (2.25) %        0.21 %
  Net interest margin                 3.77 %        3.86 %        3.82 %        3.63 %
  Efficiency ratio                   67.14 %       66.66 %       72.34 %       71.29 %
  Equity to assets (average)          9.86 %       10.24 %        9.78 %       10.07 %

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: MetroCorp Bancshares Inc.

CONTACT:  MetroCorp Bancshares, Inc., Houston
George Lee, Executive Vice Chairman, President & CEO
(713) 776-3876
David Choi, EVP/Chief Financial Officer
(713) 776-3876

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