http://www.mstreetbank.com Wed, 22 May 2013 20:55:08 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://www.mstreetbank.com/mainstreet-bank-offers-aircharity%c2%ae-product-to-community-banks-in-oklahoma/ http://www.mstreetbank.com/mainstreet-bank-offers-aircharity%c2%ae-product-to-community-banks-in-oklahoma/#comments Tue, 21 May 2013 14:58:33 +0000 Derek http://www.mstreetbank.com/?p=4480 Fairfax, VA – MainStreet Bank (OTC Bulletin Board: MNSB) is offering community banks whose communities were impacted by the devastating tornadoes access to its aircharity^® product in order to assist in raising funds for those in need.

“So many communities and people were devastated by the tornado, and our hearts go out to them,” said Chairman, CEO and President Jeff W. Dick. “Aircharity^® is the most efficient way to raise money for people in need, and we are very happy to share it with our fellow community bankers. We’ll set up the individual accounts at no cost to the community banks or their customers, and work with the community banks to get the funds to their account holders seamlessly.”

Community Banks who are interested in establishing an aircharity^® account can contact MainStreet Bank by calling (877) 924-7360, or by emailing aircharity@mstreetbank.com.

MainStreet Bank has also established an aircharity^® account on behalf of The Red Cross to assist their efforts for the tornado relief. Individuals can donate to The Red Cross by clicking on http://bit.ly/12JcZY2.

Aircharity^® is a proprietary solution that allows a customer to open an account and accept debit card, credit card and electronic check donations via all forms of social media including websites, blogs, tweets, facebook, email, LinkedIn and Google+.

MainStreet Bank has opened relationships for the American Red Cross, Cause-USA.org, The Leukemia and Lymphoma Society, Active Minds, Boys and Girls Club of Greater Washington, and many others. Please visit airbanking.com/aircharity to learn more or to donate to one of the many charities using aircharity^®.

]]> http://www.mstreetbank.com/mainstreet-bank-offers-aircharity%c2%ae-product-to-community-banks-in-oklahoma/feed/ 1 http://www.mstreetbank.com/mainstreet-bank-reports-a-profitable-first-quarter/ http://www.mstreetbank.com/mainstreet-bank-reports-a-profitable-first-quarter/#comments Wed, 01 May 2013 19:02:29 +0000 Derek http://www.mstreetbank.com/?p=4470 Fairfax, VA – MainStreet Bank (OTC Bulletin Board: MNSB) reported a profitable first quarter with net income of $134,000. The Bank’s book value per share was $9.67 as of March 31, 2013. The closing share price as of March 31, 2013 was $8.25, which was up 55% from the December 31, 2012 closing share price.

“We are excited that the Bank’s overall performance is positively impacting our share price,” stated Chairman, CEO & President Jeff W. Dick. “With good loan quality and continued improvement to our operating efficiency, we anticipate achieving a higher level of earnings this year.”

The Bank reports total assets of $269.5 million, gross loans of $215.9 million and total deposits of $239.3 million. The Bank remains well capitalized.

MainStreet Bank now offers an expanded merchant services solution with very competitive pricing. Additionally, the Bank officially launched its aircharity^® solution in late 2012. Aircharity^® is a proprietary solution that allows a customer to open an account and take debit card, credit card and electronic check donations via the customer’s website or through any other form of social media. The Bank has opened relationships for the American Red Cross, The Leukemia and Lymphoma Society, Active Minds, Boys and Girls Club of Greater Washington, and many others. Please visit airbanking.com/aircharity. to learn more or to donate to one of the many charities using aircharity^®.

MainStreet operates branches in Herndon, Fairfax, Fairfax City, McLean and Clarendon. In addition, MainStreet has 55,000 free ATMs and an online banking solution called airbanking.com. With a robust and easy-to-use online business banking technology, MainStreet has “put our bank” in well over 500 businesses in the Metropolitan area and across the United States. The Bank is not restricted by a conventional branching system, as it can offer business customers the ability to Put Our Bank in Your Office^®.

MainStreet Bank was the first community bank in the Washington, DC Metropolitan area to offer a full online business banking solution. MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS – a solution that provides FDIC insurance on deposits up to $50 million. Further information on the Bank can be obtained by visiting its website at mstreetbank.com.

This release contains forward-looking statements, including our expectations with respect to future events, that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Board of Governors of the Federal Reserve System. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.]]> http://www.mstreetbank.com/mainstreet-bank-reports-a-profitable-first-quarter/feed/ 0 http://www.mstreetbank.com/darrell-green-joins-board-of-mainstreet-bank/ http://www.mstreetbank.com/darrell-green-joins-board-of-mainstreet-bank/#comments Thu, 28 Feb 2013 19:52:25 +0000 Derek http://www.mstreetbank.com/?p=4315
Fairfax, VA MainStreet Bank (OTC Bulletin Board: MNSB) announced that NFL Hall of Famer Darrell Green has joined the Board of Directors of MainStreet Bank. Mr. Green was a founding shareholder of the bank with continued strong ties to the institution.

Chairman, CEO and President Jeff W. Dick stated, “We are excited to have Darrell on the Board. He brings such strong credibility and integrity – two attributes that we hold very dear at MainStreet. He is familiar with the management team and several of the Directors, so I really see him hitting the ground running.”

Mr. Green stated, “I first approached Jeff back in 2003 because I liked his community bank story. People who know me know that I have always been very community-minded in my actions and deeds. I’ve appreciated the strong relationship with MainStreet because they stand for everything that is right in community banking. They work with their customers through good times and hard times, and they don’t give up. I think that I can bring value to the table and I look forward to working with the Board and management to continue to build on a solid franchise.”

Green went on to talk briefly about the bank’s newest product – aircharity^®, saying; “I recently had cause to open an aircharity^® account for a college football friend who had been in a bad car accident. It was so easy to get up and running; and we raised a lot of money for my friend. I also reconnected with many former teammates in the process. I highly recommend aircharity^® for any fundraising purpose.”

Aircharity^® is a web-based socially friendly fundraising solution for organized charities, groups or individuals who are raising money for any cause. To learn more about aircharity^®, visit airbanking.com/aircharity.

MainStreet Bank operates branches in Herndon, Fairfax, Fairfax City, McLean and Clarendon. MainStreet has 50,000 free ATMs across the United States. With a robust and easy-to-use online business banking technology, MainStreet has “put our bank” in well over 500 businesses in the Metropolitan area and across the United States. The bank is not restricted by a conventional branching system, as it can offer business customers the ability to Put Our Bank in Your Office^®.

MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS – a solution that provides FDIC insurance on deposits up to $50 million. Further information on the Bank can be obtained by visiting its website at mstreetbank.com.

This release contains forward-looking statements, including our expectations with respect to future events, that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Board of Governors of the Federal Reserve System. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.]]> http://www.mstreetbank.com/darrell-green-joins-board-of-mainstreet-bank/feed/ 0 http://www.mstreetbank.com/mainstreet-bank-reports-sustained-profitability/ http://www.mstreetbank.com/mainstreet-bank-reports-sustained-profitability/#comments Mon, 04 Feb 2013 19:49:54 +0000 Derek http://www.mstreetbank.com/?p=4302 Fairfax, VA – MainStreet Bank (OTC Bulletin Board: MNSB) reported a profitable 2012 after expending diligent efforts to return its loan portfolio to historically strong levels. This marks the fifth consecutive year of profitability for MainStreet Bank.

“Loan quality was a significant focus in 2012. The effects of the economy caught up to a few of our borrowers at the end of 2011 – which increased our nonperforming numbers,” reported Chairman, CEO and President Jeff W. Dick. “After a year of concerted efforts working with our borrowers and in a few cases writing down assets, I am happy to report that our asset quality is once again strong. Nonperforming loans now represent a nominal one-third of one percent of our loan portfolio.”

The Bank originated $65 million in new commercial loans this year, with gross loans ending the year at $215 million. The bank’s balance sheet reflects total assets at $271 million. Total deposits are at $241 million and the bank remains well capitalized. The year-end book value per share is $9.73. The share price on December 31, 2012 closed at 60% of book value, or $5.80.

During 2012, MainStreet Bank introduced a new and unique program called aircharity^®. aircharity^® is an all-encompassing internet-based fundraising solution for organized charities, groups or individuals who are raising money for any cause. To learn more about aircharity^®, visit airbanking.com/aircharity.

MainStreet operates branches in Herndon, Fairfax, Fairfax City, McLean and Clarendon. In addition, MainStreet has 50,000 free ATMs across the United States and an online banking solution called airbanking.com. With a robust and easy-to-use online business banking technology, MainStreet has “put our bank” in well over 450 businesses in the Metropolitan area and across the United States. The bank is not restricted by a conventional branching system, as it can offer business customers the ability to Put Our Bank in Your Office^®.

MainStreet Bank was the first community bank in the Washington, DC Metropolitan area to offer a full online business banking solution. MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS – a solution that provides FDIC insurance on deposits up to $50 million. Further information on the Bank can be obtained by visiting its website at mstreetbank.com.

This release contains forward-looking statements, including our expectations with respect to future events, that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Board of Governors of the Federal Reserve System. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.]]> http://www.mstreetbank.com/mainstreet-bank-reports-sustained-profitability/feed/ 0 http://www.mstreetbank.com/mainstreet-bank-provides-aircharity-fundraising-tool-for-hurricane-sandy/ http://www.mstreetbank.com/mainstreet-bank-provides-aircharity-fundraising-tool-for-hurricane-sandy/#comments Fri, 02 Nov 2012 21:32:43 +0000 Billy http://www.mstreetbank.com/?p=4223 ® account to collect donations to help communities rebuild from the brutal devastation caused by Hurricane Sandy. MainStreet Bank has agreed to waive all fees for donations received through credit card or electronic check to ensure that 100% of each donation reaches the American Red Cross. To donate online, visit airbanking.com/SandyReliefFund.

Aircharity^® is a one-of-a-kind donation portal custom-built and hosted by MainStreet Bank, a community bank in Northern Virginia. Chairman, CEO & President Jeff W. Dick stated that, “We feel it is critical that 100% of the proceeds go toward Hurricane relief, so MainStreet Bank is absorbing all of the normal processing fees.

Aircharity^® provides a unique donation “widget” that tells each charity’s compelling story, rather than just a “donate” button. Aircharity^® encourages social sharing once the donation is complete. And, aircharity^® doesn’t tempt a donor with the ability to donate to other causes. To learn more about aircharity^®, visit airbanking.com/aircharity.

This release contains forward-looking statements, including our expectations with respect to future events, that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Board of Governors of the Federal Reserve System. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.]]> http://www.mstreetbank.com/mainstreet-bank-provides-aircharity-fundraising-tool-for-hurricane-sandy/feed/ 0 http://www.mstreetbank.com/hurricanesandy/ http://www.mstreetbank.com/hurricanesandy/#comments Fri, 02 Nov 2012 20:30:05 +0000 Billy http://www.mstreetbank.com/?p=4218 ]]> http://www.mstreetbank.com/hurricanesandy/feed/ 0 http://www.mstreetbank.com/david-cordingley-joins-mainstreet-bank/ http://www.mstreetbank.com/david-cordingley-joins-mainstreet-bank/#comments Sat, 27 Oct 2012 14:02:23 +0000 Billy http://www.mstreetbank.com/?p=4204
Mr. Cordingley has been involved in a leadership capacity in several community banks in Northern Virginia throughout his career. He currently holds a seat on the Board and Executive Committee of the Dulles Regional Chamber of Commerce. He also holds a seat on the Board of the Northern Virginia Transportation Alliance. Mr. Cordingley is a member of Leadership Fairfax and the Economic Development Committee of the Committee for Dulles. He is a prior Director of the Fairfax County Chamber of Commerce.

Chairman, CEO & President Jeff W. Dick said, “I’ve known Dave for many years now, and we are extremely fortunate that he has made the decision to join our team. Dave is well respected in the business community and I’m certain that he will bring many significant business opportunities to the Bank. In addition, we look forward to gaining the benefit of all of his years of experience and wisdom.”

Cordingley stated, “MainStreet Bank’s culture of innovation is what intrigued me most as I explored this new opportunity. To be affiliated with a community bank that has all the tools and technology that you would find in the largest and most sophisticated banks in the country is a big win for my customers. I look forward to working with the MainStreet Bank team.”

MainStreet Bank recently introduced a new account called aircharity^®. aircharity^® is a complete fundraising solution for organized charities as well as groups and individuals who are raising money for any cause. To learn more about aircharity^®, visit airbanking.com/aircharity.

MainStreet operates branches in Herndon, Fairfax, Fairfax City, McLean and Clarendon. In addition, MainStreet has 50,000 free ATMs across the United States and an online banking solution called airbanking.com. With a robust and easy-to-use online business banking technology, MainStreet has “put our bank” in well over 450 businesses in the Metropolitan area and across the United States. The bank is not restricted by a conventional branching system, as it can offer business customers the ability to Put Our Bank in Your Office^®.

MainStreet Bank was the first community bank in the Washington, DC Metropolitan area to offer a full online business banking solution. MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS – a solution that provides FDIC insurance on deposits up to $50 million. Further information on the Bank can be obtained by visiting its website at mstreetbank.com.

This release contains forward-looking statements, including our expectations with respect to future events, that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Board of Governors of the Federal Reserve System. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.]]> http://www.mstreetbank.com/david-cordingley-joins-mainstreet-bank/feed/ 0 http://www.mstreetbank.com/aircharity-for-organizations/ http://www.mstreetbank.com/aircharity-for-organizations/#comments Thu, 25 Oct 2012 20:00:34 +0000 Billy http://www.mstreetbank.com/?p=4030
Imagine going to your bank and opening an account that provides you a safe, low cost, easy to use and inspiring platform to raise funds for nearly any cause -- from a small local charity to a national foundation, and everything in-between. You don't have to imagine, because we have the solution for you, and we call it "aircharity".
]]>

Imagine going to your bank and opening an account that provides you a safe, low cost, easy to use and inspiring platform to raise funds for nearly any cause — from a small local charity to a national foundation, and everything in-between. You don’t have to imagine, because we have the solution for you, and we call it “aircharity”. ]]> http://www.mstreetbank.com/aircharity-for-organizations/feed/ 0 http://www.mstreetbank.com/mainstreet-bank-reports-profitable-3rd-quarter-2012/ http://www.mstreetbank.com/mainstreet-bank-reports-profitable-3rd-quarter-2012/#comments Thu, 25 Oct 2012 19:41:44 +0000 Billy http://www.mstreetbank.com/?p=4178 Fairfax, VA – MainStreet Bank (OTC Bulletin Board: MNSB) reported a profitable 3rd quarter with net income of $191,791.

“The Bank originated $54 million in small business loans this year, which is really a considerable accomplishment given the generally low loan demand associated with our current economy,” reports Chairman and CEO Jeff W. Dick. “There are many lenders out looking at relatively few deals in the marketplace. Fortunately, our experienced commercial lenders offer a significant competitive edge in the small business lending arena.”

The bank’s balance sheet reflects total assets at $251 million. Gross loans are at $211 million, total deposits are at $221 million. The bank remains well capitalized and asset quality is again strong. The current book value per share is $9.57. The share price on September 30th closed at 47% of book value, or $4.50.

MainStreet Bank recently introduced a new account called aircharity^®. aircharity^® is a complete fundraising solution for organized charities as well as groups and individuals who are raising money for any cause. To learn more about aircharity^®, visit airbanking.com/aircharity.

MainStreet operates branches in Herndon, Fairfax, Fairfax City, McLean and Clarendon. In addition, MainStreet has 50,000 free ATMs across the United States and an online banking solution called airbanking.com. With a robust and easy-to-use online business banking technology, MainStreet has “put our bank” in well over 450 businesses in the Metropolitan area and across the United States. The bank is not restricted by a conventional branching system, as it can offer business customers the ability to Put Our Bank in Your Office^®.

MainStreet Bank was the first community bank in the Washington, DC Metropolitan area to offer a full online business banking solution. MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS – a solution that provides FDIC insurance on deposits up to $50 million. Further information on the Bank can be obtained by visiting its website at mstreetbank.com.

This release contains forward-looking statements, including our expectations with respect to future events, that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management’s projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Board of Governors of the Federal Reserve System. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.]]> http://www.mstreetbank.com/mainstreet-bank-reports-profitable-3rd-quarter-2012/feed/ 0 http://www.mstreetbank.com/icba-offers-tips-to-help-students-handle-credit-wisely/ http://www.mstreetbank.com/icba-offers-tips-to-help-students-handle-credit-wisely/#comments Tue, 04 Sep 2012 14:41:43 +0000 Derek http://www.mstreetbank.com/?p=4135
—

Washington, D.C. (August 27, 2012) – As the nation’s college students head back to school, and with a growing number of them planning to use credit cards during the school year, the Independent Community Bankers of America (ICBA) and the nation’s more than 7,000 community banks want to encourage students to be responsible when using their credit cards so they can maintain their finances and establish solid credit.

“As college students work toward their professional goals by obtaining educational degrees, we urge them to also consider their financial future and the role that credit plays in helping them achieve their personal and professional goals,” said Jeff Gerhart, chairman of ICBA and of Bank of Newman Grove, Neb. “The fact is that no one may ever need to see your transcript after you leave school, but your credit report will be with you for the rest of your life.”

New rules governing credit cards aimed specifically at protecting students went into effect in 2010. According to these rules, credit card companies are prohibited from issuing cards to anyone under the age of 18, and those under 21 need either an adult co-signer or proof of income. Educational institutions must disclose any agreements they have with credit card companies that market to students, and credit card companies may no longer entice students with free gifts. All other provisions in the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act that cover consumers — such as advance notice of changes, more time to make payments and terms that are easier to understand—apply to students as well.

Even with these safeguards, the best protection against getting deeply in debt is knowing the pitfalls and how to avoid them. ICBA offers the following tips to help students use credit cards wisely:

• Set up and follow a budget that includes paying off a credit card balance. “Maxing out” or charging up to your card’s credit limit can make sticking to your budget more difficult.
• Remember that cash advances, unlike purchases, generally have finance charges that apply immediately.
• Pay on time, every time. Whenever possible, pay more than the minimum payment owed (for example, 150 percent of the minimum) to pay off the balance faster and save on finance charges.
• Keep records of your account number, expiration date and the phone number of your card issuer in a safe place.
• Keep your account information confidential.
• Never give out your credit card number, card verification number (which appears on or near the signature panel) or expiration date over the phone, unless you initiated the call and know who you’re dealing with.
• Elect to receive your statement information online. Many sites offer an alert for unusual transactions and reminders of when your bill is due.
• Consider making your credit card payment online to ensure it is received by the monthly due date.
• Routinely access your account information online to track your spending and to quickly identify fraudulent transactions. If you see a transaction that is not yours, notify your card issuer immediately.
• If there’s an error on your account, report it immediately by notifying your card issuer. Look for complete instructions on your monthly statement or your bank’s website and follow them carefully to protect your rights.
• Keep a copy of your sales receipts so you can compare what you bought with the charges on your bill.
• When making online transactions, be sure the site is secure. Don’t let others see you enter card information.
• Don’t lend your credit card to anyone, not even a friend. Ever.
• If you move, notify your card issuer immediately.
• If you encounter financial difficulties, contact your card issuer as soon as possible.

“If students want to learn more about credit cards and how to manage their credit, they should talk to their local community bank,” Gerhart said. “Community banks are common-sense lenders that provide credit cards as a valuable service to their customers.”

To learn more about community banks, visit www.icba.org. To find a community bank, visit ICBA’s community bank locator at www.banklocally.org.

About ICBA

The Independent Community Bankers of America®, the nation’s voice for more than 7,000 community banks of all sizes and charter types is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit www.icba.org.]]> http://www.mstreetbank.com/icba-offers-tips-to-help-students-handle-credit-wisely/feed/ 0