MainStreet Bank Recognized for Top 10% Performance Among Peer Group

CB Top Ten™ MainStreet Bank 29 Dashboard Rankingeof 599 banks with assets of $1 billion at $5 billion

FAIRFAX, Va., August 31, 2022 /PRNewswire/ — MainStreet Bank, the wholly-owned subsidiary of MainStreet Bancshares, Inc. (NASDAQ: MNSB) (NASDAQ: MNSBP), announced that it ranked among the best in the second quarter of 2022 in Irvine, CaliforniaRisk management and CB resource planning based on CB.

MainStreet Bank ranked 29th out of 599 peer group institutions nationwide for the period ended June 30, 2022, data from CB Resource showed. These institutions are C corporations with assets between $1 billion and $5 billion. The ranking places MainStreet Bank in the national top 10% of this peer group.

CB Resource creates its CB Top Ten™ rankings based on eight key performance indicators: Asset Growth, Return on Average Assets, Return on Average Equity, Net Interest Margin, Efficiency Ratio, Non-Performing Assets, Deposits non-interest bearing and interest-free deposits. Income. CB Resource has published CB Top Ten™ rankings since 2010.

The data, presented in a dashboard format, shows that MainStreet Bank stood out from its peers in the second quarter by posting a sustained annual growth rate of 17.88%, a net interest margin of 4.08 and non-performing assets totaling zero.

“We are pleased to find ourselves in excellent company based on a consolidated view of eight metrics that are driving shareholder value,” said Jeff W.Dick, Chairman and CEO of MainStreet Bancshares, Inc. and MainStreet Bank. “Our strong revenue growth, improved net interest margin and innovative strategy reflect our unwavering focus on profitability through excellence.”

MainStreet Bank’s strategic initiatives include the upcoming launch of its Banking as a Service platform, Avenu, which is scheduled to go live in the fourth quarter of 2022. Avenu™ offers fintechs, including mobile applications, a simplified way to accept and facilitate transactions and deposits while managing risk and respecting the obligations of compliance. MainStreet Bank expects to tap into low-cost deposits, fee income and new markets with the Avenu offering, Dick noted.

MainStreet Bank has been committed to innovation since its inception, when it established itself as a pioneer in online business banking. Since then, the bank has pursued an environmentally friendly “light branch” strategy that gives business customers the opportunity to Put our bank in your office® using robust and easy-to-use online banking technology.

ABOUT MAINSTREET BANK: MainStreet Bank will launch its proprietary Fintech Software as a Service (SaaS) and Banking as a Service (BaaS) solution called Avenu™ later this year to provide a comprehensive solution to the Fintech community. Visit Avenu.bank for more information and to join the queue.

MainStreet operates six branches in Herndon, Fairfax, McLean, LeesburgClarendon and washington d.c. MainStreet Bank has 55,000 free ATMs and a fully integrated online and mobile banking solution. Its early investment in online banking means that the Bank is not limited by a conventional branch system.

MainStreet Bank offers a strong suite of business and professional lending products, including government contractual lines of credit, commercial lines and term loans, residential and commercial construction, and commercial real estate. MainStreet is also working with the SBA to provide 7A and 504 lending solutions. From sophisticated cash management to enhanced mobile banking and instant-issue debit cards, MainStreet Bank is always looking for ways to improve the experience of its customers.

MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS – a solution that provides multi-million dollar FDIC insurance. Further information about the Bank can be obtained by visiting its website at MainStreet.bank.

This release may contain forward-looking statements, including our expectations regarding future events that are subject to various risks and uncertainties. Statements in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may”, “will”, “could”, “should” , “expects”, “plan”, “project”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “pursue”, “target “, “continue” and similar expressions are intended to identify such forward-looking statements. Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include: fluctuations in interest rates market and pricing of loans and deposits, adverse changes in the broader national economy as well as adverse economic conditions in our specific market sectors, future impacts of the outbreak of the new cor onavirus (COVID-19), the maintenance and development of well-established and valued customer relationships and referral sources, and the acquisition or loss of key production personnel. We caution readers that the above list of factors is not exclusive. Forward-looking statements are made as of the date of this release, and we may not take steps to update forward-looking statements to reflect the impact of any circumstances or events occurring after the date on which the forward-looking statements are made. In addition, our past operating results are not necessarily indicative of our future performance.

Contact: Debra Cope
(202) 468-3814

SOURCE MainStreet Bancshares, Inc.

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