HOUSTON, May 14, 2009 (GLOBE NEWSWIRE) -- On May 14, 2009 CNBC reported a news article regarding "Small Banks Need Capital, Too, But Could Face Harder Time." In the article, it was reported that MetroCorp Bancshares, Inc. could require as much as $10 billion of capital infusion under a privately conducted stress-test study on banks.
"This is absolutely incorrect. We have notified CNBC and they have now corrected the amount on their web page from $10 billion to $10 million," said David Choi, CFO of MetroCorp Bancshares. "With the additional capital from TARP, our tier one capital ratio was 11.83% and total capital ratio was 13.09% as of the end of first quarter. At this level of capital we have a lot of room to handle a prolonged downturn in the economy," said Choi.
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, 2009 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