MainStreet Bank Reports Record Mid-Year Performance

Fairfax, VA – MainStreet Bank (OTCQB: MNSB) more than doubled mid-year 2016 earnings over mid-year 2015. The share price closed on June 30, 2016 at $11.90 per share. During the second quarter of 2016, there were 198 trades for a total of 220,745 shares with a dollar value of $2,561,339. The high share price for the second quarter of 2016 was $12.10 per share.

MainStreet’s mid-year 2016 balance sheet improved 37% from mid-year 2015 with total assets of $513 million against total assets of $376 million respectively.

Net interest income of $8.99 million reported for June 30, 2016 improved $1.8 million over net interest income from June 30, 2015. The June 30, 2016 net interest margin is 3.82% and the earnings per share is $.042.

Net loans outstanding for the first half of 2016 totaled $418 million against net loans outstanding for the first half of 2015 of $305 million, an increase of $113 million.

Total deposits as of June 30, 2016 were $423 million; or $90 million over total deposits of $333 million at June 30, 2015. During those same periods, demand account balances increased $26 million and interest checking accounts increased by $14 million. Time deposits increased by $50 million.

Asset quality remains very strong. Nonperforming loans were a mere nine basis points of total gross loans on June 30, 2016.

Non-interest income was $638 thousand for the first half of 2016 compared to $429 thousand (net of securities gains) for the same period in 2015. Non-interest expense for the first half of 2016 was $6.8 million, compared to $5.9 million for the same period in 2015. The increase is primarily in salaries.

QUOTES: “MainStreet is maintaining a healthy net interest margin in spite of the ongoing low interest rate environment.” says Jeff W. Dick, Chairman, CEO and President of MainStreet Bank. “MainStreet is able to achieve better-than-average loan yields largely because of the quality of customer service provided. In addition, MainStreet is focused on increasing non-interest or low-interest bearing balances on deposits. Apart from the net interest margin, MainStreet has also been able to grow fee income significantly from prior quarters.”

ABOUT MAINSTREET BANK: MainStreet operates five branches in Herndon, Fairfax, Fairfax City, McLean and Clarendon. In addition, MainStreet has 55,000 free ATMs and fully integrated mobile and online banking solutions. 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®. With robust and easy-to-use online business banking technology, MainStreet has literally “put our bank” in nearly 1,000 businesses in the Metropolitan area.

MainStreet Bank is always looking for ways to improve its customer experience, and now has the ability to instantly issue new and replacement Debit Cards – which is especially important for customers if their Cards are compromised or lost.

MainStreet Bank provides an excellent mobile banking app (with finger print authentication) for iPads, iPhones and Androids. Additionally, MainStreet Bank released Aircharity® in 2012. Aircharity® is a unique solution that empowers people and organizations to raise money via email, websites and social media. The product allows a customer to open an account and accept donations from debit cards, credit cards and electronic checks.

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 multi-million-dollar FDIC insurance. Further information on the Bank can be obtained by visiting its website at

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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 annual reports. 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.

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