<PAGE>   1
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D. C. 20549


                                  ------------

                                 FORM 10 - Q/A

                                  ------------



     [X]   Quarterly Report pursuant to Section 13 or 15(d) of the Securities
           Exchange Act of 1934 for the Quarter ended March 31, 1997

     [ ]   Transition Report pursuant to Section 13 or 15(d) of the Securities
           Exchange Act of 1934


                        Commission File Number: 0-20750


                           STERLING BANCSHARES, INC.
             (Exact name of registrant as specified in its charter)


            Texas                                           74-2175590
    ------------------------                          ------------------------
    (State of Incorporation)                          (IRS Employer ID Number)

                       15000 Northwest Freeway, Suite 200
                              Houston, Texas 77040
                    (Address of principal executive office)

                                  713-466-8300
                        (Registrant's telephone number)


Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities and Exchange Act
of 1934 ("Act") during the preceding 12 months (or for such shorter period that
the registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days

                                    Yes [X]      No [ ]


The number of shares outstanding of each class of the registrant's capital
stock as of March 31, 1997:


       Class of Stock                                      Shares Outstanding
-----------------------------                              ------------------
Common Stock, Par Value $1.00                                  12,004,400



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PART I.  FINANCIAL INFORMATION

On March 18, 1997, the Company entered into an Agreement and Plan of Merger
(the "Merger Agreement") to acquire First Houston Bancshares, Inc. ("First
Houston") and its subsidiary, Houston National Bank, in a stock-for-stock
merger (the "Merger"). The Merger Agreement, which is subject to approval of
First Houston's shareholders and various banking regulatory authorities,
provides that the Company will issue approximately 1.72 million shares of the
Company's common stock to the stockholders of First Houston in exchange for all
of the issued and outstanding shares of First Houston. The final purchase price
is subject to certain closing adjustments. The transaction is expected to be
accounted for as a pooling of interests and is expected to close in the third
quarter of 1997.

The pro forma consolidated financial statements of the Company and First
Houston are presented as if the Merger had occurred on January 1, 1995, after
giving effect to the pro forma adjustments described in the notes to the pro
forma consolidated financial statements included elsewhere in this Form 10-QA.


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ITEM I.  PRO FORMA FINANCIAL STATEMENTS


                   STERLING BANCSHARES, INC. AND SUBSIDIARIES
                FIRST HOUSTON BANCSHARES, INC. AND SUBSIDIARIES
                     PRO FORMA CONSOLIDATED BALANCE SHEETS
                                  (UNAUDITED)

<TABLE>
<CAPTION>
                                                           March 31,       December 31,
                                                              1997            1996
                                                          ------------    ------------
                                                                 (In thousands)
<S>                                                       <C>             <C>         
ASSETS
Cash and due from banks                                   $     59,031    $     85,291
Federal funds sold                                              35,362          40,563
Interest bearing deposits in financial institutions             25,427              22
Investment securities:
     Available-for-sale                                         58,251          57,382
     Held-to-maturity                                          168,573         148,083
                                                          ------------    ------------
         Total investment securities                           226,824         205,465
Investment in unconsolidated subsidiary                          2,266           2,316
Loans:
     Loans held for sale                                        30,000          40,969
     Loans held for investment                                 542,752         513,356
                                                          ------------    ------------
         Total loans                                           572,752         554,325
         Allowance for credit losses                            (7,565)         (7,053)
                                                          ------------    ------------
         Total loans, net                                      565,187         547,272
Real estate acquired by foreclosure and certain other
   real estate                                                   1,704           2,072
Premises and equipment, net                                     27,869          25,873
Goodwill                                                         1,758           1,839
Accrued interest receivable and other assets                    11,124          11,617
                                                          ------------    ------------
         Total assets                                     $    956,552    $    922,330
                                                          ============    ============

LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits                                                  $    869,318    $    840,344
Securities sold under agreements to repurchase                   7,822           3,751
Accrued interest payable and other liabilities                   6,459           7,231
Notes payable                                                    3,600           4,000
                                                          ------------    ------------
         Total liabilities                                     887,199         855,326

Shareholders' equity:
Preferred stock, $1 par value, 1 million shares auth                88              88
Common stock, $1 par value, 20 million shares auth. (1)         13,728          13,673
Capital surplus                                                 23,655          23,470
Retained earnings                                               32,157          29,998
Net unrealized gain (loss) on held-to-maturity
   securities transferred from available-for-sale                 (275)           (225)
                                                          ------------    ------------
         Total shareholders' equity                             69,353          67,004
                                                          ------------    ------------
         Total liabilities and shareholders' equity       $    956,552    $    922,330
                                                          ============    ============
</TABLE>



<PAGE>   4

                  STERLING BANCSHARES, INC., AND SUBSIDIARIES
                FIRST HOUSTON BANCSHARES, INC. AND SUBSIDIARIES
                 PRO FORMA CONSOLIDATED STATEMENTS OF EARNINGS
                                  (Unaudited)

<TABLE>
<CAPTION>
                                               Three Months           Years Ended
                                              Ended March 31,         December 31,
                                              1997       1996       1996       1995
                                            --------   --------   --------   --------
                                                         (In thousands)
<S>                                         <C>        <C>        <C>        <C>     
Interest income                             $ 17,369   $ 14,467   $ 62,171   $ 54,268
Interest expense                               5,448      4,674     19,807     17,271
                                            --------   --------   --------   --------
    Net interest income                       11,921      9,793     42,364     36,997

Provision for credit losses                      692        561      2,343      1,149
                                            --------   --------   --------   --------
    Net interest income after provision       11,229      9,232     40,021     35,848

Non-interest income                            2,110      2,085      8,598      8,068
Non-interest expense                           9,097      7,331     32,354     29,829
                                            --------   --------   --------   --------
Income before income taxes                     4,242      3,986     16,265     14,087

Provision for income taxes                     1,404      1,282      5,112      4,404
                                            --------   --------   --------   --------
    Net income                              $  2,838   $  2,704   $ 11,153   $  9,683
                                            ========   ========   ========   ========

    Net income per shares (fully diluted)   $   0.20   $   0.19   $   0.79   $   0.70

Weighted average common and common
    equivalent shares (2)                     14,077     13,940     14,064     13,841
</TABLE>


(1)  Common stock has been adjusted for the conversion and elimination of
     21,375 shares of $40.00 par value preferred stock and the elimination of
     2,098,000 shares of common stock of First Houston, and the issuance of
     1,724,000 shares of the Company's common stock . The excess par value of
     the retired shares over the issued shares has been adjusted to capital
     surplus.

(2)  Per share data for all periods and dates have been adjusted retroactively
     to give effect to the 1.72 million shares to be issued in conjunction with
     the merger with First Houston, and a three-for-two stock split in the form
     of a stock dividend to common shareholders distributed on February 24,
     1997.


ITEM 2.  RECENT SALES OF UNREGISTERED SECURITIES

NONE.