MetroCorp Bancshares
Encyclopedia
MetroCorp Bancshares, Inc. (MetroCorp, Nasdaq
: MCBI) is an American banking corporation headquartered in Chinatown
and in Greater Sharpstown
in Houston, Texas
.
MetroCorp, first incorporated in 1998, is an overseas Chinese bank holding company for two overseas Chinese banks in the United States
: MetroBank National Association (MetroBank, Chinese: 首都銀行 Shǒudū Yínháng) and Metro United Bank. The company is one of the few overseas Chinese banks / financial institutions that are publicly held. MetroBank operates banks in Greater Houston
and the Dallas-Fort Worth Area in Texas
. MetroBank has its headquarters in its parent company's offices. As of 2007 MetroBank is one of four overseas Chinese banks with its headquarters in Houston, and it is the only Houston-based overseas Chinese bank that is publicly traded. The other MetroCorp subsidiary, Metro United Bank, operates in California. Metro United has its headquarters in the City of Industry
.
branches and 3 Dallas-Fort Worth branches, with assets of $1.2 billion. Metro United had assets of $426.8 million. During that year, the Office of the Comptroller of the Currency
asked MetroBank to revise its balance sheet. MetroBank signed a formal agreement with the office to do this within 90 days. In 2010 MetroBank signed an agreement with Bank of China-Shanghai so that MetroBank could offer services involving the renminbi
, the currency of the People's Republic of China
.
), headquartered in Houston, Texas
, with branch offices
in Bellaire, Texas
, Clear Lake City, Houston, Texas
, Sugar Land, Texas
, Dallas, Texas
, Plano, Texas
, Richardson, Texas
and other communities throughout the Greater Houston
, this bank
was the original one for the company..
Like its competitor Southwestern National Bank
(美南銀行), the location of in the bank
in the south
reflects one of the newest trends of Chinese American
and Asian American
population diffusion into the area other than the traditional regions settled by Asian American
s such as the western United States
and northeastern United States
. The rapid expansion of this bank in comparison to other overseas Chinese banks in the traditional regions where most Chinese American
/ immigrant and Asian American
/ immigrant was due to the booming economy of the late 1990s in the regions of Telecom Corridor
(Silicon Prairie) and Silicon Hills, which attracted a significant amount of Chinese
/ Asian
scientist
s and engineer
s. As of 2006, the asset of the bank is $976.384 million USD according to Federal Deposit Insurance Corporation
.
s and Asian American
s, a significant majority of them still reside in the traditional regions of the western coast of the United States
. The huge market was simply too big to ignore for the company and it thus begun its expansion into California
, the state with most Chinese American
and Asian American
population.
On October 5, 2005, the company purchased First United Bank, and its locations in San Diego, California
and Los Angeles
, renamed it as the Metro United Bank
(第一銀行), thus completed its expansion by venturing into the traditional region where most Chinese American
s reside. As of 2006, the asset of the bank is $ 249.577 million USD according to Federal Deposit Insurance Corporation
.
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
: MCBI) is an American banking corporation headquartered in Chinatown
Chinatown, Houston
Chinatown is a community in southwestern Houston, Texas, United States. It is roughly bounded by Fondren, Beechnut, State Highway 6, and Westpark, west of Bellaire in the Alief area. The naming of the new Chinatown is disputed, as various ethnic groups live within the community...
and in Greater Sharpstown
Greater Sharpstown, Houston
Greater Sharpstown is a district in Houston, Texas, United States. The Greater Sharpstown Management District controls the area within the district. The district includes the Sharpstown subdivision, the portion of Chinatown inside Beltway 8, and other nearby subdivisions.-History:The Sharpstown...
in Houston, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
.
MetroCorp, first incorporated in 1998, is an overseas Chinese bank holding company for two overseas Chinese banks in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
: MetroBank National Association (MetroBank, Chinese: 首都銀行 Shǒudū Yínháng) and Metro United Bank. The company is one of the few overseas Chinese banks / financial institutions that are publicly held. MetroBank operates banks in Greater Houston
Greater Houston
Houston–Sugar Land–Baytown is a 10-county metropolitan area defined by the Office of Management and Budget. It is located along the Gulf Coast region in the U.S. state of Texas...
and the Dallas-Fort Worth Area in Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
. MetroBank has its headquarters in its parent company's offices. As of 2007 MetroBank is one of four overseas Chinese banks with its headquarters in Houston, and it is the only Houston-based overseas Chinese bank that is publicly traded. The other MetroCorp subsidiary, Metro United Bank, operates in California. Metro United has its headquarters in the City of Industry
Industry, California
Industry is an industrial suburb of Los Angeles in the San Gabriel Valley region of Los Angeles County. Home to over 2,500 businesses and 80,000 jobs, but only 219 residents at the 2010 census - down from 777 residents as of the 2000 United States census - the city is almost entirely industrial...
.
History
In September 2009 MetroBank had 10 Greater HoustonGreater Houston
Houston–Sugar Land–Baytown is a 10-county metropolitan area defined by the Office of Management and Budget. It is located along the Gulf Coast region in the U.S. state of Texas...
branches and 3 Dallas-Fort Worth branches, with assets of $1.2 billion. Metro United had assets of $426.8 million. During that year, the Office of the Comptroller of the Currency
Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency is a US federal agency established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States...
asked MetroBank to revise its balance sheet. MetroBank signed a formal agreement with the office to do this within 90 days. In 2010 MetroBank signed an agreement with Bank of China-Shanghai so that MetroBank could offer services involving the renminbi
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...
, the currency of the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
.
MetroBank
The first of the two, MetroBank (also known as Metro BankBank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
), headquartered in Houston, Texas
Houston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
, with branch offices
Branch (banking)
A branch, banking center or financial center is a retail location where a bank, credit union, or other financial institution offers a wide array of face-to-face and automated services to its customers....
in Bellaire, Texas
Bellaire, Texas
Bellaire is a city in southwest Harris County, Texas, United States, within the metropolitan area. As of the 2000 U.S. Census, the city population was 15,642 and is completely surrounded by the cities of Houston and West University Place....
, Clear Lake City, Houston, Texas
Clear Lake City, Houston, Texas
Clear Lake City is a master-planned community located in southeast Harris County, Texas, within the Bay Area of Greater Houston. It is the second-largest master-planned community in Houston — behind Kingwood...
, Sugar Land, Texas
Sugar Land, Texas
Sugar Land is a city in the U.S. state of Texas within the metropolitan area and Fort Bend County. Sugar Land is one of the most affluent and fastest-growing cities in Texas, having grown more than 158 percent in the last decade. In the time period of 2000–2007, Sugar Land also enjoyed a...
, Dallas, Texas
Dallas, Texas
Dallas is the third-largest city in Texas and the ninth-largest in the United States. The Dallas-Fort Worth Metroplex is the largest metropolitan area in the South and fourth-largest metropolitan area in the United States...
, Plano, Texas
Plano, Texas
Plano is a city in the state of Texas, located mostly within Collin County. The city's population was 259,841 at the 2010 census, making it the ninth-largest city in Texas and the 71st most populous city in the United States. Plano is located within the metropolitan area commonly referred to as...
, Richardson, Texas
Richardson, Texas
Richardson is a city in Dallas and Collin Counties in the U.S. state of Texas. As of the 2010 census, the city had a total population of 99,223. In 2011 the population was estimated to be 107,684. Richardson is an affluent inner suburb of Dallas and home of the Telecom Corridor with a high...
and other communities throughout the Greater Houston
Greater Houston
Houston–Sugar Land–Baytown is a 10-county metropolitan area defined by the Office of Management and Budget. It is located along the Gulf Coast region in the U.S. state of Texas...
, this bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
was the original one for the company..
Like its competitor Southwestern National Bank
Southwestern National Bank
Southwestern National Bank is an overseas Chinese bank in the United States with headquarters in Chinatown and in Greater Sharpstown in Houston, Texas...
(美南銀行), the location of in the bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
in the south
Southern United States
The Southern United States—commonly referred to as the American South, Dixie, or simply the South—constitutes a large distinctive area in the southeastern and south-central United States...
reflects one of the newest trends of Chinese American
Chinese American
Chinese Americans represent Americans of Chinese descent. Chinese Americans constitute one group of overseas Chinese and also a subgroup of East Asian Americans, which is further a subgroup of Asian Americans...
and Asian American
Asian American
Asian Americans are Americans of Asian descent. The U.S. Census Bureau definition of Asians as "Asian” refers to a person having origins in any of the original peoples of the Far East, Southeast Asia, or the Indian subcontinent, including, for example, Cambodia, China, India, Indonesia, Japan,...
population diffusion into the area other than the traditional regions settled by Asian American
Asian American
Asian Americans are Americans of Asian descent. The U.S. Census Bureau definition of Asians as "Asian” refers to a person having origins in any of the original peoples of the Far East, Southeast Asia, or the Indian subcontinent, including, for example, Cambodia, China, India, Indonesia, Japan,...
s such as the western United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and northeastern United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. The rapid expansion of this bank in comparison to other overseas Chinese banks in the traditional regions where most Chinese American
Chinese American
Chinese Americans represent Americans of Chinese descent. Chinese Americans constitute one group of overseas Chinese and also a subgroup of East Asian Americans, which is further a subgroup of Asian Americans...
/ immigrant and Asian American
Asian American
Asian Americans are Americans of Asian descent. The U.S. Census Bureau definition of Asians as "Asian” refers to a person having origins in any of the original peoples of the Far East, Southeast Asia, or the Indian subcontinent, including, for example, Cambodia, China, India, Indonesia, Japan,...
/ immigrant was due to the booming economy of the late 1990s in the regions of Telecom Corridor
Telecom Corridor
The Telecom Corridor is a technology business center in Richardson, Texas , a northern suburb of Dallas, which contains over 25 million square feet of office space and accounts for over 82,600 jobs. The Corridor is a strip about 6.5 miles long along U.S...
(Silicon Prairie) and Silicon Hills, which attracted a significant amount of Chinese
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
/ Asian
Asian people
Asian people or Asiatic people is a term with multiple meanings that refers to people who descend from a portion of Asia's population.- Central Asia :...
scientist
Scientist
A scientist in a broad sense is one engaging in a systematic activity to acquire knowledge. In a more restricted sense, a scientist is an individual who uses the scientific method. The person may be an expert in one or more areas of science. This article focuses on the more restricted use of the word...
s and engineer
Engineer
An engineer is a professional practitioner of engineering, concerned with applying scientific knowledge, mathematics and ingenuity to develop solutions for technical problems. Engineers design materials, structures, machines and systems while considering the limitations imposed by practicality,...
s. As of 2006, the asset of the bank is $976.384 million USD according to Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
.
Metro United Bank
Although the establishment of its original bank marked the new residential trend of Chinese AmericanChinese American
Chinese Americans represent Americans of Chinese descent. Chinese Americans constitute one group of overseas Chinese and also a subgroup of East Asian Americans, which is further a subgroup of Asian Americans...
s and Asian American
Asian American
Asian Americans are Americans of Asian descent. The U.S. Census Bureau definition of Asians as "Asian” refers to a person having origins in any of the original peoples of the Far East, Southeast Asia, or the Indian subcontinent, including, for example, Cambodia, China, India, Indonesia, Japan,...
s, a significant majority of them still reside in the traditional regions of the western coast of the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. The huge market was simply too big to ignore for the company and it thus begun its expansion into California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, the state with most Chinese American
Chinese American
Chinese Americans represent Americans of Chinese descent. Chinese Americans constitute one group of overseas Chinese and also a subgroup of East Asian Americans, which is further a subgroup of Asian Americans...
and Asian American
Asian American
Asian Americans are Americans of Asian descent. The U.S. Census Bureau definition of Asians as "Asian” refers to a person having origins in any of the original peoples of the Far East, Southeast Asia, or the Indian subcontinent, including, for example, Cambodia, China, India, Indonesia, Japan,...
population.
On October 5, 2005, the company purchased First United Bank, and its locations in San Diego, California
San Diego, California
San Diego is the eighth-largest city in the United States and second-largest city in California. The city is located on the coast of the Pacific Ocean in Southern California, immediately adjacent to the Mexican border. The birthplace of California, San Diego is known for its mild year-round...
and Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
, renamed it as the Metro United Bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
(第一銀行), thus completed its expansion by venturing into the traditional region where most Chinese American
Chinese American
Chinese Americans represent Americans of Chinese descent. Chinese Americans constitute one group of overseas Chinese and also a subgroup of East Asian Americans, which is further a subgroup of Asian Americans...
s reside. As of 2006, the asset of the bank is $ 249.577 million USD according to Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...
.