MetroCorp Bancshares, Inc.(MetroCorp,Nasdaq:MCBI) was an American banking corporation headquartered inChinatownand inGreater SharpstowninHouston,Texas.[1][2][3][4]
 MetroCorp headquarters and MetroBank branch - Dynasty Plaza,ChinatownandGreater Sharpstown,Houston,Texas | |
| Company type | Public |
|---|---|
| Nasdaq:MCBI | |
| Industry | Finance and Insurance |
| Founded | Houston,Texas,United States |
| Headquarters | Texas California |
Key people | Mr. George M. Lee,CEO Mr. David Choi,CFO |
| Products | Banking |
Number of employees | 315 |
| Website | metrobank-na metrounitedbank |
MetroCorp, first incorporated in 1998, was anoverseas Chinese bankholding company for two overseas Chinese banks in theUnited States:MetroBank National Association(MetroBank,simplified Chinese:Thủ đô ngân hàng;traditional Chinese:Thủ đô ngân hàng;pinyin:Shǒudū Yínháng) andMetro United Bank.The company was one of the few overseas Chinese banks / financial institutions that were publicly held. MetroBank operated banks inGreater Houstonand theDallas-Fort Worth AreainTexas.[5][6]MetroBank had its headquarters in its parent company's offices.[2]
As of 2007 MetroBank was one of four overseas Chinese banks with its headquarters in Houston, and it was the only Houston-based overseas Chinese bank that is publicly traded.[7]The other MetroCorp subsidiary, Metro United Bank, operated in California.[8]Metro United had its headquarters in theCity of Industry.[9]
In 2014,East West Bankacquired MetroBank for $268 million in cash and stock,[10]and MetroBank branches were to be rebranded in 2014.[11]
History
editMetro Bank was founded in 1987 in SW Chinatown.[12]
In September 2009, MetroBank had 10Greater Houstonbranches and 3Dallas-Fort Worthbranches, with assets of $1.2 billion. Metro United had assets of $426.8 million. During that year, theOffice of the Comptroller of the Currencyasked MetroBank to revise its balance sheet. MetroBank signed a formal agreement with the office to do this within 90 days.[8]
In 2010, MetroBank signed an agreement with Bank of China-Shanghai so that MetroBank could offer services involving therenminbi,the currency of thePeople's Republic of China.[13]
MetroBank
editThe first of the two, MetroBank (also known as MetroBank), headquartered inHouston, Texas,withbranch officesinBellaire, Texas,Sugar Land, Texas,Dallas, Texas,Plano, Texas,Richardson, Texasand other communities throughout theGreater Houston,thisbankwas the original one for the company..
Like its competitorSouthwestern National Bank,the location of in thebankin thesouthreflects one of the newest trends ofChinese AmericanandAsian Americanpopulation diffusion into the area other than the traditional regions settled byAsian Americanssuch as the westernUnited Statesand northeasternUnited States.The rapid expansion of this bank in comparison to otheroverseas Chinese banksin the traditional regions where mostChinese American/immigrantandAsian American/immigrantwas due to the booming economy of the late 1990s, in the regions ofTelecom Corridor(Silicon Prairie) and Silicon Hills, which attracted a significant number ofChinese/Asianscientistsandengineers.As of 2006, the asset of the bank is $976.384 millionUSDaccording toFederal Deposit Insurance Corporation.
Metro United Bank
editThis sectionneeds additional citations forverification.(May 2021) |
Although the establishment of its original bank marked the new residential trend ofChinese AmericansandAsian Americans,a significant majority of them still reside in the traditional regions of the western coast of theUnited States.The huge market was simply too big to ignore for the company and it thus begun its expansion intoCalifornia,the state with mostChinese AmericanandAsian Americanpopulation.
On October 5, 2005, the company purchasedFirst United Bank,and its locations inSan Diego, CaliforniaandLos Angeles,renamed it as theMetro UnitedBank(simplified Chinese:Đệ nhất ngân hàng;traditional Chinese:Đệ nhất ngân hàng;pinyin:Dìyī Yínháng), thus completed its expansion by venturing into the traditional region where mostChinese Americansreside.[14]
See also
edit
References
edit- ^"Contact the BoardArchived2011-06-15 at theWayback Machine."MetroBank. Retrieved on December 27, 2010." Corporate Secretary MetroCorp Bancshares, Inc. 9600 Bellaire Blvd. Suite 252 Houston, TX 77036 United States. "
- ^ab"Contact UsArchived2010-11-26 at theWayback Machine."MetroBank. Retrieved on December 27, 2010." MetroBank, N.A. 9600Bellaire Blvd.,Suite 252 Houston, Texas 77036 "
- ^"Map Major RoadsArchived2012-03-07 at theWayback Machine."Greater Sharpstown Management District. Retrieved on August 15, 2009.
- ^Rodriguez, Lori. "Opinions vary over naming the growing Asian community on Houston's southwest side."(). Alternate version without Chinatown map:"DIVERSITY DEBATE / Chinatown outgrowing name / Opinions vary over naming the growing Asian community on Houston's southwest sideArchived2012-10-11 at theWayback Machine."Houston Chronicle.Wednesday May 9, 2007. A1.
- ^"MetroCorp Bancshares Inc. (Nasdaq:MCBI), a Texas corporation, which through its subsidiary, MetroBank, NA, provides community banking services in Houston[...]"
- ^"Branch Locations."MetroBank. Retrieved on December 27, 2010.
- ^Moreno, Jenalia. "Houston's 'Chinatown' near Beltway 8 sparks banking boom."Houston Chronicle.Sunday February 18, 2007. Retrieved on October 16, 2011.
- ^abBarr, Greg. "MetroBank comes under watch of industry regulators."Houston Business Journal.Sunday September 27, 2009. Last modified on Thursday September 24, 2009. Retrieved on December 27, 2010.
- ^"About Us."(Archive) Metro United Bank. Retrieved on December 27, 2010. "Metro United Bank is headquartered in Rowland Heights and was established to meet the diverse financial needs of customers throughout Southern and Northern California."
- ^"California bank boosts Texas footprint with MetroCorp deal."Houston Business Journal.January 23, 2014. Retrieved on April 29, 2016.
- ^"Sign of the times: MetroBank to make the switch to East West Bank."Houston Business Journal.May 6, 2014. Retrieved on April 29, 2016.
- ^http://usa.chinadaily.cn/world/2015-01/23/content_19382754.htm
- ^Wooten, Casey. "MetroBank inks settlements deal with Shanghai bank."Houston Business Journal.Monday June 21, 2010. Retrieved on December 27, 2010.
- ^"MetroCorp reaches California market with acquisition of First United Bank".bizjournals.Retrieved2021-01-05.
