8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  February 10, 2009

METROCORP BANCSHARES, INC.

(Exact name of registrant as specified in its charter)

Texas	0-25141	76-0579161
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

9600 Bellaire Boulevard, Suite 252 Houston, Texas	77036
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code:  (713) 776-3876

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[  ]           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]           Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]           Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))

[  ]           Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR240.13e-4(c))

Item 7.01.  Regulation FD Disclosure.

On February 11, 2009, management of MetroCorp Bancshares, Inc. (the “Company”) is presenting information regarding the Company’s business and financial performance to various analysts and investors at the Keefe, Bruyette & Woods Investor Conference.  The foregoing description is qualified by reference to such exhibit.

As provided in General Instruction B.2 to Form 8-K, the information contained in Item 7.01 and Exhibit 99.1 of this Current Report on Form 8-K is being furnished to the Securities and Exchange Commission and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section, nor shall it be deemed to be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended.

Item 9.01.  Financial Statements and Exhibits.

Exhibits.  The following is furnished as an exhibit to this Current Report on Form 8-K:

Exhibit Number	Description of Exhibit
99.1	Investor slide presentation

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	METROCORP BANCSHARES, INC. (Registrant)
Dated:  February 10, 2009	By:  /s/ George M. Lee George M. Lee Executive Vice Chairman, President & Chief Executive Officer

EXHIBIT INDEX

Exhibits.    The following is furnished as an exhibit to this Current Report on Form 8-K:

Exhibit Number	Description of Exhibit
99.1	Investor slide presentation

EX-99

1

KBW Texas Field Trip

February 11th, 2009

Presentation by: George M. Lee, CEO

2

Forward Looking Statements

The statements contained in this presentation that are not

historical facts are forward-looking statements made pursuant

to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.Forward-looking statements describe

MetroCorp’s future plans, projections, strategies and

expectations, are based on assumptions and involve a number

of risks and uncertainties, many of which are beyond

MetroCorp’s control.Actual results could differ materially from

those projected due to changes in interest rates, competition in

the industry, changes in local and national economic conditions

and various other factors.Additional information concerning

such factors that could affect MetroCorp is contained in

MetroCorp’s 2007 Annual Report on Form 10-K and other

reports and documents filed from time to time with the SEC.

Good

to

Great

In ’08 & ’09:

Slowing down loan &

asset growth.
Extending to part

of 2010.

Strengthening Our
Platform

Growing Our Platform

Harvesting From Our Platform

Extending into 2013

Strategic Transformation of MetroCorp

4

Capital

Net Interest

Margin

Asset

Quality &

Provisions

Earning

Asset

Expense

Control

Future Earnings Platform

5

Expense Control

FTE

298

MB

257

MB

63

MUB

($ in millions)

Assets

$859

$1,155

MB

$429

MUB

Loans

$575

$974

MB

$372

MUB

Deposits

$709

$955

MB

$319

MUB

FTE Expense Control

7

2004

Q4

2005

Q4

2006

Q4

2007

Q4

2008

Q4

2009

Q1 E

MetroBank

280

283

291

277

257

246

Metro United Bank

-

32

59

71

63

59

FTEs

8

2005 Q4

2006 Q4

2007 Q4

2008 Q4

2009 Q1 E

Total Assets ($000)

914,748

1,009,996

1,083,536

1,155,480

1,166,883

Total Loans ($000)

636,625

702,444

866,603

974,164

975,258

FTE

283

291

277

257

246

Total Assets ($000) / FTE

3,232

3,471

3,912

4,496

4,743

Total Loans ($000) / FTE

2,250

2,414

3,129

3,791

3,964

FTE - MetroBank

9

2005 Q4

2006 Q4

2007 Q4

2008 Q4

2009 Q1 E

Total Assets ($000)

212,782

257,211

376,218

429,128

430,375

Total Loans ($000)

134,848

184,112

335,308

371,883

375,872

FTE

32

59

71

63

59

Total Assets ($000) / FTE

6,649

4,360

5,299

6,812

7,294

Total Loans ($000) / FTE

4,214

3,121

4,723

5,903

6,371

FTE - Metro United Bank

10

Net Interest Margin

11

Source: SNL Financial and MCBI company record

MCBI

UCBH

PFBC

EWBC

CATY

2008 Q4

3.72

2.44

3.31

2.72

2.85

2007 Q4

4.30

3.39

4.82

3.91

3.43

2006 Q4

4.61

3.34

5.19

3.81

4.01

2005 Q4

4.56

3.62

4.81

4.20

4.34

Net Interest Margin (%)
Comparison Among NASDAQ Listed Chinese Ethnic Banks

12

MetroBank

4.50

4.37

4.04

3.99

Metro United Bank

3.59

3.56

3.54

3.56

MetroBank

4.95

4.65

4.86

4.64

Metro United Bank

4.04

4.41

4.07

4.35

2008

2007

Net Interest Margin (%)

13

Capital

14

•

12

/

31

/

2008

:

10.32%

•With CPP

:

13.33%

Total Risk-Based Capital Ratio

15

Asset Quality & Provisions

16

Source: SNL Financial and MCBI company record

MCBI

UCBH

PFBC

EWBC

CATY

2008 Q4

2.56

NA

6.84

2.12

2.06

2007 Q4

0.38

0.55

1.90

0.57

0.84

2006 Q4

0.73

0.23

0.08

0.18

0.36

2005 Q4

1.53

0.38

0.00

0.30

0.30

* Net Nonperforming Assets are net of guarantee and accruing loan > 90 days delinquent.

Net NPA* / Assets (%)

17

Source: SNL Financial and MCBI company record

MCBI

UCBH

PFBC

EWBC

CATY

2008 Q4

1.53

2.20

1.56

2.16

1.64

2007 Q4

1.09

1.01

1.21

1.00

0.97

2006 Q4

1.29

0.91

1.03

0.95

1.05

2005 Q4

1.71

1.08

1.16

1.01

1.22

Reserves / Loans (%)

18

Nonperforming Assets (Net)

	2004	2005	2006	2007	2008
Net Nonperforming Assets *	$15,219	$17,294	$9,333	$6,785	$40,740
Net Nonperform. Assets to Total Assets %	1.66%	1.53%	0.73%	0.38%	2.56%
* Net Nonperforming Assets are net of guarantee and accruing loan > 90 days delinquent.

19

Allowance to Net Nonperforming Loans

	2004	2005	2006	2007	2008
Allowance for Loan Losses	$10,501	$13,169	$11,436	$13,125	$20,577
Allowance to Net Nonperforming Loans %	76.9%	98.1%	173.6%	247.1%	57.3%

* Net Nonperforming Assets are net of guarantee and accruing loan > 90 days delinquent.

20

Earning Asset Platform

Building
Market
Synergy

Northern

Southern

ChongQing

Xiamen

Houston

Dallas

Market Footprint

22

As of 12/31/08

$ in millions

• Assets

1,155

$

• Loans

974

$

• Deposits

955

$

• Branches

13

MetroBank (Texas)

23

Texas Initiatives

v Maintain Houston Dominance

v Asset Quality Improvement

v Expense Control

v Improve Fee Income

v Dallas Growth

24

As of: 12/31/08

$ in millions

• Assets

429

$

• Loans

372

$

• Deposits

319

$

• Branches

6

Metro United Bank (California)

25

California Initiatives

v Asset Quality Improvement

v Expense Control

v Improve Fee Income

v Low Cost Deposit Growth

MCBI Asset Growth

$ in millions

Mid single
digit ‘09

$867

$914

$1,128

$1,268

$1,460

$1,583

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

2003

2004

2005

2006

2007

2008

27

MCBI Total Loan Growth

$ in millions

Mid single
digit ‘09

$557

$595

$771

$887

$1,202

$1,346

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

2003

2004

2005

2006

2007

2008

28

MCBI Deposit Growth

$ in millions

High single
digit ‘09

$725

$755

$962

$1,082

$1,191

$1,269

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

2003

2004

2005

2006

2007

2008

29

Earnings

30

0.79

1.29

0.98

1.62

1.22

1.95

1.10

2.00

0.40

1.82

$-

$0.50

$1.00

$1.50

$2.00

$2.50

2004

2005

2006

2007

2008

Diluted EPS

PPPt EPS

Pre-Provision/Pre-Tax EPS

31

Good to Great - Metro Objectives

v Core Competency

v Competitive Edge

v Market Expansion

v Asset Quality

v Efficiency & Financial Results

Good

to

Great

In ’08 & ’09:

Slowing down loan &

asset growth.
Extending to part

of 2010.

Strengthening Our
Platform

Growing Our Platform

Harvesting From Our Platform

Extending into 2013

Strategic Transformation of MetroCorp