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 9, 2010

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 CFR 240.14d-2(b))

[  ]      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01.  Regulation FD Disclosure.

On February 9, 2010, 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 Texas Field Trip.  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 9, 2010                                                                 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

KEEFE, BRUYETTE & WOODS

2010 TEXAS FIELD TRIP

February 9 - 11th, 2010

Houston, Texas

Presentation by: George M. Lee

Executive Vice Chairman, President & CEO

2/9/2010

1

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 2008 Annual Report on Form 10-K and other
reports and documents filed from time to time with the SEC.

2

Forward Looking Statements

§Expense Management

§NIM

§Capital

§Balance Sheet

§Asset / Loan Quality (Terry Tangen)

3

Today’s Agenda

4

5

Expense Management

	2007	2008	2009
FTE	348	321	296
Compensation	$ 24,846	$ 24,298	$ 20,406
Legal & Professional	$ 1,443	$ 2,048	$ 2,505
Regulatory	$ 451	$ 906	$ 4,252
ORE Related	$ 278	$ 289	$ 4,107
Net Charge Off	$1,456	$ 5,539	$ 17,592
Loan Loss Provision	$3,145	$16,649	$23,513

($ in 000’s)

6

7

8

9

Net Interest Margin (%)

10

NIM vs Peer Banks

	MCBI	EWBC*	CATY	PFBC
2009 Q4	3.73	3.61	2.65	2.58
2008 Q4	3.72	2.72	2.85	3.31
2007 Q4	4.30	3.91	3.43	4.82
2006 Q4	4.61	3.81	4.01	5.19
2005 Q4	4.56	4.20	4.34	4.81

* Non-GAAP excluding discount on covered loans from UCBH purchase

11

12

Total Risk-Based Capital Ratio

Tangible Common Equity Ratio

	MB	MUB	MCBI
12/31/2009	14.07%	12.87%	13.88%
12/31/2008	10.39%	10.41%	10.17%

	MB	MUB	MCBI
12/31/2009	11.23%	9.32%	5.87%
12/31/2008	8.64%	8.29%	6.22%

13

14

MCBI Total Asset Growth

$ in millions

15

MCBI Total Deposit Growth

$ in millions

16

Deposit Composition

17

MCBI Total Loan Growth

$ in millions

18

Loan Concentration

19

OPERATING ENVIRONMENT

§Panama Canal Expansion

§Turn Houston into potentially the largest port city in the country

§Trade Business between Texas & China

§China is Texas’ third largest trading partner

§Texas is the second largest exporting state to China

§Houston metro area provides 2/3 of total trade business

§Dallas/Fort Worth provides 20%

§Imports from China in 2008: $18 billion

§Exports to China in 2008: $8.4 billion

§Strategic Location of Representative Offices in China

§Chongqing will be the focus of China’s growth into the inland provinces

§Xiamen is an important import & export port in China

20

METROBANK’S COMPETITIVE EDGE

§MetroBank vs. Money Center Banks

§Location - Headquartered in Texas

§Trade finance centers of other national banks
located in NY, CA, etc.

§Language

§Money center banks focus on very large accounts

21

METROBANK’S COMPETITIVE EDGE

§MetroBank vs. Community Banks

§Only few community banks in Texas are able to
handle trade finance

§MetroBank has a stronger international
business team

§MetroBank is the only bank headquartered in
Texas with presence in China

22

METROBANK’S COMPETITIVE EDGE

§MetroBank vs. Small Ethnic Banks

§MetroBank has more complete service

§Two representative offices in China

§Stronger network of bank relationship in China

§Branches in the second largest exporting state -
California

23

BUSINESS & EARNING OPPORTUNITIES

§Business Development

§Export - L/C Advising, Negotiation, & Discounting

§Import - L/C Issuance & L/C Refinancing

§Correspondent Banking

§Related Private Business or Personal Accounts

§Depository Relationships

24

STRENGTHENING OUR COMPETENCE

§Staffing

§Lenders & underwriters to be more international
business minded

§Hire a high level international credit professional

§Monitoring Process

§Lending Process

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26

28

29

30

31

KEEFE, BRUYETTE & WOODS

2010 TEXAS FIELD TRIP

February 9 - 11th, 2010

Houston, Texas

Presentation by: Terrance J. Tangen

Executive Vice President & Chief Credit Officer

2/9/2010

TOTAL REAL ESTATE PORTFOLIO

33

OWNER OCCUPIED

27.3%

RETAIL CENTERS

26.5%

HOTELS/ MOTELS

11.2%

DEVELOPMENT

11.0%

OTHER

5.7%

MIXED USE BLDGS

5.4%

APARTMENTS/CONDOS

5.0%

OFFICE BLDGS

4.0%

1- 4 FAMILY

3.3%

INDUSTRIAL

0.5%

CATEGORY	NET ACTIVE PRINCIPAL BALANCE	% OF BANK CAPITAL	% OF GROSS LOANS
TOTAL INCOME PRODUCING	$561,932,608	371.3%	61.1%
OWNER OCCUPIED	$220,975,716	146.0%	24.0%
1- 4 FAMILY	$26,642,301	17.6%	2.9%
TOTAL REAL ESTATE SECURED	$809,550,625	534.9%	88.0%
ALL OTHERS	$110,558,693	73.1%	12.0%
TOTAL BANK GROSS LOANS	$920,109,319		100.0%

34

35

Retail Centers

46.7%

Commercial Land

22.5%

Residential Construction

16.2%

Residential Land

2.1%

Other CRE Secured

5.9%

C & I

4.8%

Other

1.8%

ORE - MB

36

Hospital	$5.4 MM
Commercial Land	$8.2 MM
Office / Warehouse	$0.9 MM
Residential	$0.6 MM
Total	$15.1 MM

TOTAL REAL ESTATE PORTFOLIO

37

RETAIL CENTERS

26.8%

OWNER OCCUPIED

21.9%

HOTELS/ MOTELS

20.9%

INDUSTRIAL

13.1%

OFFICE BUILDINGS

9.7%

1- 4 FAMILY

3.6%

LAND/ LAND

2.2%

OTHER

1.8%

CATEGORY	NET ACTIVE PRINCIPAL BALANCE	% OF BANK CAPITAL	% OF GROSS LOANS
TOTAL INCOME PRODUCING	$262,556	533%	72.9%
OWNER OCCUPIED	$77,119	157%	21.4%
1- 4 FAMILY	$12,850	26%	3.6%
TOTAL REAL ESTATE SECURED	$352,525	718%	97.9%
ALL OTHERS	$7,572	15%	2.1%
TOTAL BANK GROSS LOANS	$360,097		100.0%

38

39

Commercial Land

33.7%

Motel

26.7%

Retail Centers

18.8%

Residential Land

12.9%

Office

7.9%

ORE - MUB

40

Hospital	$1.6 MM
Residential Land	$2.3 MM
Retail	$2.8 MM
Commercial Land	$0.4 MM
Office	$0.1 MM
Total	$7.2 MM

41

In $000’s	2005	2006	2007	2008	2009
Net Nonperforming Assets *	$17,262	$9,304	$5,501	$55,695	$103,262
Net Nonperforming Assets to Total Assets %	1.53%	0.73%	0.38%	3.52%	6.49%

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

In $000’s	2005	2006	2007	2008	2009
Allowance for Loan Losses	$13,169	$11,436	$13,125	$24,235	$30,156
Allowance to Net Nonperforming Loans % *	98.31%	174.41%	325.93%	47.64%	37.24%

42

* Net Nonperforming Loans are net of guarantee and accruing loans > 90 days delinquent.