HOUSTON, June 13, 2007 (PRIME NEWSWIRE) -- MetroCorp Bancshares, Inc. (the "Company") (Nasdaq:MCBI) announced today that MetroBank, N.A., subsidiary of the Company, is introducing the Cash Manager Plus, an online cash management product for its Business Banking customers. Cash Manager Plus is a suite of time-saving business banking solutions that are easy-to-use, convenient, efficient and secure. MetroBank understands that time is vital to the successful operation of any business and every step of the way, they strive to help their customers manage their business more efficiently.
Basic online services like looking up account balances, paying bills, and making transfers between MetroBank accounts are already available with all MetroBank business checking accounts. Cash Manager Plus offers additional time-saving services that no business should be without including Account reconciliation, Positive Pay, Automated Clearing House (ACH), Payroll, Domestic and International Wire Transfers and Remote Deposit, just to name a few.
The biggest time-saver is Remote Deposit which is groundbreaking technology that lets customers make their check deposits electronically without leaving their office. All a customer has to do is log on to the secure server, run the check through a certified check scanner, click "Deposit," and the money will be on its way to their account.
Huge time-saving benefits to our business banking customers include:
* Convenience of making deposits electronically, safe and secure from the office * Time saved by not having to drive to the bank or to wait in line * Better use of working capital * Process check deposits 24/7 outside of banking hours * Elimination of geographic limitations to travel to the closest branch
Safety and security features are already built in to Remote Deposit that safeguards the Bank and its customers from the risk of mishandling a deposit.
As of press release date, MetroBank is pleased to report that they are the first Asian-centric bank to introduce Cash Manger Plus with Remote Deposit to the Asian communities in Texas.
According to George M. Lee, Executive Vice Chairman, President and Chief Executive Officer of MetroCorp Bancshares, Inc., "2007 marks the 20th anniversary of MetroBank in Houston. As MetroBank continues to grow in size and influence in Texas, the bank continues to maintain its focus on customer service, investments in cutting-edge technology and multi-language customer support to make it stand at the forefront as the premier banking choice for Houston's diverse community now and for the future. This, however, will not derail us from our plans to expand our denovo growth strategies; this is an enhancement to our expansion and not a substitute. The challenge is going to be how quickly we can entice and convert our customers to the new technology. There will be an Online Business Banking Customer Launch Party on June 13, 2007 in Houston to introduce this new product to our customers and another one on June 27, 2007 in Dallas. We have also planned a series of weekly customer workshops commencing July to familiarize our business clients with this time-saving product."
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 13 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 and one loan production office in San Francisco, California. As of March 31, 2007, the Company had consolidated assets of $1.3 billion. For more information, visit the Company's web site at www.metrobank-na.com.
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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) changes in management's assumptions regarding the adequacy of the allowance for loan losses; (4) legislative or regulatory developments including changes in laws concerning taxes, banking, securities, insurance and other aspects of the financial securities industry; (5) 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; (6) changes in accounting principles, policies or guidelines; and (7) the Company's ability to adapt successfully to technological changes to meet customers' needs and developments in the market place. All written or oral forward-looking statements are expressly qualified in their entirety by these cautionary statements. Please also read the additional risks and factors described from time to time in the Company's reports and other documents filed with the Securities and Exchange Commission.