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                        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):   JANUARY 10, 2002


                            METROCORP BANCSHARES, INC.
              (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)



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



    9600 BELLAIRE BLVD., SUITE 252
           HOUSTON, TEXAS                                           77036
(Address of principal executive offices)                         (Zip Code)



      REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:  (713) 776-3876


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ITEM 5. OTHER EVENTS.


     On January 10, 2002, MetroCorp Bancshares, Inc. (the "Company") publicly
disseminated a press release announcing that the Company anticipated its
earnings per share would be below the range of analysts' estimates due to the
results of the Company's asset quality review. The purpose of this Current
Report on Form 8-K is to file as an exhibit a copy of the Company's press
release dated January 10, 2002 announcing such event.

ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS.


     Exhibits. The following materials are filed as exhibits to this Current
Report on Form 8-K:

     99.1   -  Press Release dated January 10, 2002.


                                   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.



Dated: January 10, 2002                         By  /s/ Allen D. Brown
                                                  -----------------------------
                                                    Allen D. Brown
                                                    President



                                  EXHIBIT INDEX

     Exhibit
     Number        Description
     ------        -----------

      99.1      Press Release dated January 10, 2002.


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