CFO Ransom Slated to Leave MetroCorp Bancshares Inc.Business Editors HOUSTON--(BUSINESS WIRE)--Sept. 6, 2001 MetroCorp Bancshares MetroCorp Bancshares, Inc. (MetroCorp), first incorporated in 1998, is a overseas Chinese bank holding company for two overseas Chinese banks in the United States: MetroBank National Association (also known as Metro Bank National Association) or simply MetroBank Inc. (Nasdaq:MCBI MCBI Marine Conservation Biology Institute MCBI Michigan Center for Biological Information MCBI Monarch Community Bancorp Inc. MCBI Medical Center of Boston International MCBI Minnesota Christian Broadcasters Inc. ), a Texas community banking organization serving primarily the Asian and Hispanic markets, today announced that Ruth Ransom, chief financial officer of MetroCorp Bancshares Inc., has decided to leave the company. Ransom will remain employed by the company as chief financial officer through Sept. 30, 2001. She has agreed to serve in a consulting capacity through the end of 2001. The search for a new CFO See Chief Financial Officer. is under way, and in the interim those duties will be shared among the company's executives. Allen Brown, president of MetroCorp, said, "We are quite sorry to see Ruth leave us, but we realize that as changes occur in our management, some of us might choose other paths and interests. We wish her the very best in her endeavors. Meanwhile, the company remains financially strong with a promising future, and our management team continues to focus on the mission of being a premier multicultural bank." Ransom added, "We have worked hard together and I have no regrets. Personally, I have other interests I would like to pursue, and sometimes you are just ready for a change." MetroCorp Bancshares Inc., with $730 million in assets, provides a full range of commercial and consumer banking services through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , MetroBank, National Association. The company has 14 full-service banking locations in the 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 Dallas metropolitan areas. For more information, visit the company's Web site at www.metrobank-na.com. The statements contained in this release which are not historical facts are forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 which could affect MetroCorp is contained in MetroCorp's filings with the SEC. |
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