MetroCorp Bancshares
| Company type | Public |
|---|---|
| Industry | Banking and financial services |
| Founded | 1998 |
| Headquarters | Houston, Texas , United States |
Area served | United States (Greater Houston, Dallas-Fort Worth, California) |
| Products | Banking services |
MetroCorp Bancshares, Inc. (Nasdaq: MCBI) was a U.S.-based banking entity with its main offices located in Houston, Texas, specifically within the neighborhoods of Chinatown and Greater Sharpstown.
Established in 1998, MetroCorp functioned as a parent company overseeing two Chinese American banks operating in the United States: MetroBank National Association (commonly known as MetroBank) and Metro United Bank. It was one of the limited number of publicly listed financial institutions serving the overseas Chinese community. MetroBank conducted its operations primarily in the Greater Houston area and the Dallas-Fort Worth region, sharing headquarters space with MetroCorp.
By 2007, Houston was home to four overseas Chinese banks, with MetroBank standing out as the only one publicly traded and headquartered there. Meanwhile, Metro United Bank operated within California markets and maintained its main office in the City of Industry.
In 2014, East West Bank completed the acquisition of MetroBank for $268 million through a combination of cash and stock. After this transaction, all MetroBank branches were transitioned to operate under the East West Bank brand during that year.
History
Metro Bank originated in 1987 within Southwest Chinatown.
As of September 2009, MetroBank managed 10 branches across Greater Houston and an additional 3 locations in Dallas-Fort Worth, with total assets amounting to $1.2 billion. At the same time, Metro United Bank's assets totaled $426.8 million. That year, the Office of the Comptroller of the Currency mandated that MetroBank adjust its balance sheet, resulting in a formal agreement to accomplish these changes within a 90-day timeframe.
In 2010, MetroBank formed a partnership with Bank of China-Shanghai to provide renminbi-related financial services, thereby broadening its currency transaction capabilities.
MetroBank
Based in Houston, Texas, MetroBank operates branches in communities including Bellaire, Sugar Land, Dallas, Plano, Richardson, among others within the Greater Houston area. It served as the founding banking institution under the company's umbrella.
The bank's expansion into southern U.S. markets corresponds with demographic trends showing increased Chinese American and Asian American populations outside traditional strongholds on the West Coast and Northeast. Its accelerated growth relative to peer overseas Chinese banks was influenced by Texas's economic surge during the late 1990s in regions such as the Telecom Corridor (also known as Silicon Prairie) and Silicon Hills, attracting numerous Asian professionals. According to Federal Deposit Insurance Corporation records from 2006, MetroBank held assets totaling $976.384 million.
Metro United Bank
Although demographic shifts have occurred, a significant portion of Chinese Americans continue to reside on the West Coast—a key market that motivated the company's expansion into California.
On October 5, 2005, the firm acquired First United Bank—which had branches in San Diego and Los Angeles—and subsequently rebranded it as Metro United Bank (第一银行), thereby establishing a presence within a central area for Chinese American communities.