MetroCorp Bancshares Announces Commencement of Public Offering of $40M of its Common Stock

MetroCorp Bancshares, Inc. (Nasdaq:

) announced today that it is commencing an underwritten public offering of $40 million of its common stock. Keefe, Bruyette & Woods, Inc. is acting as the sole underwriter for the offering. The Company intends to grant the underwriter an option to purchase up to an additional 15% of the common stock sold to cover over-allotments, if any.