HOUSTON, June 25, 2012 /PRNewswire/ -- MetroCorp Bancshares, Inc. (NASDAQ: MCBI) today announced that it is set to join the Russell 2000 Index.
Russell Investments (Russell) reconstituted its comprehensive set of U.S. and Global equity index, the annual reconstruction of the Russell 3000 Index includes the 3,000 largest U.S. stocks ranked by market capitalization as of end of May 2012. The top 1,000 companies ranked comprise the Russell 1000 Index and the next 2,000 companies make up the Russell 2000 Index.
"We are honored to be included in the 2012 Russell 2000 Index, a testimony to the progress we have made over the past few quarters in terms of increasing shareholder value," said George M. Lee, Executive Vice Chairman and CEO. "This inclusion also reflects market confidence in our commitment to the company's strategic business model. As the only Texas based NASDAQ listed Chinese ethnic bank we believe our inclusion in the Russell 2000 will further enhance our brand profile and investors' interest on both sides of the Pacific."
MetroCorp Bancshares, Inc. (NASDAQ:MCBI) 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 March 31, 2011, the Company had consolidated assets of $1.5 billion. For more information, visit the Company's web site at www.metrobank-na.com.
CONTACT: MetroCorp Bancshares, Inc., Houston
George M. Lee, Executive Vice Chairman, President and CEO
SOURCE MetroCorp Bancshares, Inc.