Jeff Dick
Chairman, CEO & President
MainStreet Bank

Keeping The Government Out Of Our Knickers...

I, along with 30 of my banking colleagues, met with Senator Mark Warner last week. He said that we aren't lending to small businesses. He said if we don't start lending to small businesses, we can rest assured that the Congress will pass legisation forcing us to.  And he said, "you don't want the government in your knickers."

The freshman senator surmised this from a couple of town hall style meetings. 

Fortunately for us, the facts prove otherwise.  Fortunately for us, even the President has gone on record stating that community banks are leading the charge for recovery in the financial system.  

On another positive note:  Jeffrey Lacker, President of the Richmond Federal Reserve, told us that the recession is over.  He also indicated that the housing market has officially bottomed out at the national level, acknowledging that local markets may vary somewhat.

As always, we're interested in your thoughts. Give us a call or click here: feedback@mstreetbank.com

Meet MainStreet: Art Smith

We are pleased to announce the addition of a seasoned commercial lender to our team. Art Smith,Vice-President/Commercial Lender takes a creative and innovative approach to helping businesses achieve their financing needs. 

Art is a fourth generation Washingtonian, and his knowledge of the D.C. market is extraordinary. He brings a wealth of experience to MainStreet. Art's career has crossed paths with several key people in our organization, and we’re thrilled to add him to our commercial lending team.  

“I think the most exciting opportunity for my customers is that all of our decisions are made in-house, and our credit solutions are tailored to meet their specific borrowing needs. I also know that my customers will enjoy the ability to do all of their banking without leaving their office – especially all of my customers within the D.C. market."

Art will be working in Herndon until the Arlington branch is opened early next year.  To discuss specific needs for your business, give Art a call at (202) 494-3883. 

Creative Solutions: Graduation Season - Downloading your transactions to Quickbooks, Quicken or Microsoft Money

Reconciling your account has never been easier, and is one of the free services we provide to our online banking customers.

Go online today to check it out, stop in the branch, or call your customer service representative to get a free demonstration. 

StreetSmart

MainStreet Bank partners with Habitat for Humanity 

Earlier this month, several employees from MainStreet Bank donated time, effort and talent to work with Habitat for Humanity.  Habitat for Humanity works with volunteers and accepts donations of money, material, and labor to accomplish the work they do. 

Volunteers work alongside the homeowner in constructing the house.  “I was able to work with the future owner of the house,” says Mark DesRochers, Vice-President/Relationship Manager.  “Our time and efforts helped the homeowners move one step closer to making this house a home for them.  We painted trim and doors and helped lay tile for the family room and utility room.” 

Throughout the year, MainStreet Bank works with other organizations as a corporate citizen to try and make the neighborhood served by the Bank a better place. 

MainStreet Answers

Q. There are an awful lot of bank failures this year, should I be worried?

A. 92 banks have failed this year so far, compared to 381 in 1990.   We are now hopefully starting on an uphill climb out of what has been defined to be the worst economic cycle ever, so in reality banks as a whole have fared well.  The FDIC fund still has over $40 billion, and we anticipate that all banks will be making additional contributions to keep the fund in good shape. It is worth noting that the government hasn't ever had to contribute to the FDIC fund.