Net Income and Earnings Per Share Exceed Market Expectations
FAIRFAX, Va., Oct. 27, 2025 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the financial holding company for MainStreet Bank, reported a net income of $4.52 million and earnings per common share of $0.52 outperforming expectations of $4.48 million and $0.51 respectively for the quarter-ended September 30, 2025.
"Our core net interest margin is a healthy 3.54% for the third quarter of 2025. Our balance sheet is well-structured for current and anticipated rate changes to continue producing good results," said Alex Vari, Chief Financial Officer of MainStreet Bank. "The outlook for the Bank remains strong, as our team continues to focus on core revenue generation and expense control."
"We continue to see quality opportunities to lend in the government contracting, commercial real estate, construction and owner-occupied space," said Tom Floyd, Chief Lending Officer of MainStreet Bank. "We've worked with a few of our borrowers to improve their credit relationship, and as a result I'm happy to report that we continue to show strong asset quality. Finally, we've been talking with our customers regularly about the shutdown, and they know we stand ready to help them with their financial needs."
On October 16, 2025, the Board of Directors of MainStreet Bancshares, Inc. authorized a new stock repurchase program authorizing the Company to repurchase up to $10.0 million of the Company's common stock. This new stock repurchase program will replace and supersede the Company's existing stock repurchase program which was originally announced on May 19, 2022. The Company and Bank remain well capitalized.
About MainStreet Bank: MainStreet operates six branches in Herndon, Fairfax, McLean, Leesburg, Clarendon, and Washington, D.C. MainStreet Bank has over 55,000 free ATMs and a fully integrated online and mobile banking solution. The Bank is not restricted by a conventional branching system, as it can offer business customers the ability to Put Our Bank in Your Office$(R)$. With robust and easy-to-use online business banking technology, MainStreet has "put our bank" in thousands of businesses in the metropolitan area.
MainStreet Bank has a robust line of business and professional lending products, including government contracting lines of credit, commercial lines and term loans, residential and commercial construction, and commercial real estate. MainStreet also works with the SBA to offer 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 our customer's experience.
MainStreet Bank was the first community bank in the Washington, D.C., 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 mstreetbank.com.
This release contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. The statements contained 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," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "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: 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, future impacts of pandemic outbreaks, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. 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.
UNAUDITED CONSOLIDATED BALANCE SHEET INFORMATION
(In thousands)
September June 30, March 31, December September
30, 2025 2025 2025 31, 2024* 30, 2024
---------- ---------- ---------- ---------- ----------
ASSETS
Cash and cash equivalents
Cash and due from banks $ 23,940 $ 20,888 $ 18,384 $ 21,351 $ 15,319
Interest-bearing deposits at other
financial institutions 1,315 864 735 1,711 478
Federal funds sold 102,039 111,532 183,521 184,646 216,317
--------- --------- --------- --------- ---------
Total cash and cash equivalents 127,294 133,284 202,640 207,708 232,114
Investment securities available for sale
(AFS), at fair value 58,338 56,138 55,935 55,747 58,489
Investment securities held to maturity
$(HTM)$, at amortized cost, net of
allowance for credit losses of $0 for
all periods 14,293 14,846 15,657 16,078 16,016
Restricted securities, at amortized cost 7,005 7,005 7,005 6,873 6,873
Loans, net of allowance for credit
losses of $18,831, $19,057, $19,460,
$19,450, and $18,327, respectively 1,788,243 1,767,432 1,811,789 1,810,556 1,775,558
Premises and equipment, net 13,212 13,344 13,020 13,287 13,571
Property held for sale, at fair value 3,225 3,225 -- -- --
Accrued interest and other receivables 13,622 15,023 9,607 11,311 11,077
Computer software, net of amortization -- -- -- -- 18,881
Bank owned life insurance 40,433 40,117 39,809 39,507 39,203
Other assets 59,124 64,367 67,383 67,031 52,817
--------- --------- --------- --------- ---------
Total Assets $2,124,789 $2,114,781 $2,222,845 $2,228,098 $2,224,599
========= ========= ========= ========= =========
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Non-interest bearing deposits $ 324,717 $ 330,045 $ 345,319 $ 324,307 $ 347,575
Interest-bearing demand deposits 123,231 124,090 106,033 139,780 197,527
Savings and NOW deposits 125,214 116,069 124,049 64,337 61,893
Money market deposits 458,946 463,904 511,925 560,082 451,936
Time deposits 778,727 764,439 820,999 819,288 834,738
--------- --------- --------- --------- ---------
Total deposits 1,810,835 1,798,547 1,908,325 1,907,794 1,893,669
Subordinated debt, net 69,837 71,238 72,138 73,039 72,940
Other liabilities 25,754 31,526 32,764 39,274 31,939
--------- --------- --------- --------- ---------
Total Liabilities 1,906,426 1,901,311 2,013,227 2,020,107 1,998,548
Stockholders' Equity:
Preferred stock 27,263 27,263 27,263 27,263 27,263
Common stock 29,833 29,825 29,810 29,466 29,463
Capital surplus 68,895 68,261 67,612 67,823 67,083
Retained earnings 98,793 95,585 92,305 91,150 108,616
Accumulated other comprehensive loss (6,421) (7,464) (7,372) (7,711) (6,374)
--------- --------- --------- --------- ---------
Total Stockholders' Equity 218,363 213,470 209,618 207,991 226,051
--------- --------- --------- --------- ---------
Total Liabilities and Stockholders'
Equity $2,124,789 $2,114,781 $2,222,845 $2,228,098 $2,224,599
========= ========= ========= ========= =========
* Derived from audited financial statements
UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (LOSS) INFORMATION
(In thousands, except share and per share data)
Year-to-Date Three Months Ended
---------------------- ----------------------------------------------------------
September September September June 30, March 31, December September
30, 2025 30, 2024 30, 2025 2025 2025 31, 2024 30, 2024
---------- ---------- ---------- ---------- ---------- ---------- ----------
INTEREST INCOME:
Interest and fees
on loans $ 94,242 $ 93,852 $ 30,688 $ 32,443 $ 31,111 $ 31,323 $ 31,615
Interest on
investment
securities
Taxable
securities 1,285 1,262 435 431 420 431 397
Tax-exempt
securities 800 832 270 267 263 262 294
Interest on
interest-bearing
deposits at other
financial
institutions 44 27 11 10 22 15 10
Interest on
federal funds
sold 3,342 3,523 1,060 1,135 1,147 3,088 1,275
--------- --------- --------- --------- --------- --------- ---------
Total interest
income 99,713 99,496 32,464 34,286 32,963 35,119 33,591
INTEREST EXPENSE:
Interest on
interest-bearing
demand deposits 3,123 6,049 1,071 1,004 1,048 2,612 2,117
Interest on
savings and NOW
deposits 1,079 553 467 391 221 201 206
Interest on money
market deposits 14,606 15,911 4,623 4,707 5,276 5,475 5,277
Interest on time
deposits 25,994 27,361 8,369 8,595 9,031 10,003 9,543
Interest on
federal funds
purchased 93 575 28 -- 65 -- 277
Interest on
Federal Home Loan
Bank advances -- 46 -- -- -- -- --
Interest on
subordinated
debt 2,415 2,468 804 799 812 787 828
--------- --------- --------- --------- --------- --------- ---------
Total interest
expense 47,310 52,963 15,362 15,496 16,453 19,078 18,248
--------- --------- --------- --------- --------- --------- ---------
Net interest
income 52,403 46,533 17,102 18,790 16,510 16,041 15,343
Provision for
credit losses (398) 3,356 144 (543) -- 3,407 2,913
--------- --------- --------- --------- --------- --------- ---------
Net interest
income after
provision for
credit losses 52,801 43,177 16,958 19,333 16,510 12,634 12,430
NON-INTEREST
INCOME:
Deposit account
service charges 1,625 1,516 557 538 530 481 557
Bank owned life
insurance income 926 885 316 308 302 304 302
Gain on retirement
of subordinated
debt 273 -- 145 68 60 -- --
Gain on equity
securities 103 -- -- 103 -- -- --
Net loss on
securities called
or matured -- (48) -- -- -- -- --
Other non-interest
income 199 93 104 49 47 22 27
--------- --------- --------- --------- --------- --------- ---------
Total
non-interest
income 3,126 2,446 1,122 1,066 939 807 886
NON-INTEREST
EXPENSES:
Salaries and
employee
benefits 24,030 22,222 7,366 8,279 8,385 8,253 7,250
Furniture and
equipment
expenses 2,957 2,806 799 1,141 1,016 830 931
Advertising and
marketing 1,582 1,599 571 530 481 600 579
Occupancy expenses 1,114 1,257 400 318 396 358 407
Outside services 3,088 2,458 625 1,290 1,173 1,168 845
Administrative
expenses 757 686 259 270 229 243 215
Computer software
intangible
impairment -- -- -- -- -- 19,721 --
Other operating
expenses 8,198 7,508 2,647 2,917 2,634 3,258 2,992
--------- --------- --------- --------- --------- --------- ---------
Total
non-interest
expenses 41,726 38,536 12,667 14,745 14,314 34,431 13,219
--------- --------- --------- --------- --------- --------- ---------
Income (loss)
before income tax
expense
(benefit) 14,201 7,087 5,413 5,654 3,135 (20,990) 97
Income tax expense
(benefit) 2,641 900 896 1,064 682 (4,823) (168)
--------- --------- --------- --------- --------- --------- ---------
Net income (loss) 11,560 6,187 4,517 4,590 2,453 (16,167) 265
--------- --------- --------- --------- --------- --------- ---------
Preferred stock
dividends 1,617 1,617 539 539 539 539 539
--------- --------- --------- --------- --------- --------- ---------
Net income (loss)
available to
common
shareholders $ 9,943 $ 4,570 $ 3,978 $ 4,051 $ 1,914 $ (16,706) $ (274)
========= ========= ========= ========= ========= ========= =========
Earnings (loss)
per common share,
basic and
diluted $ 1.29 $ 0.60 $ 0.52 $ 0.53 $ 0.25 $ (2.20) $ (0.04)
Weighted average
number of common
shares, basic and
diluted 7,682,086 7,607,431 7,704,639 7,704,677 7,636,191 7,603,318 7,601,925
UNAUDITED LOAN, DEPOSIT AND BORROWING DETAIL
(In thousands)
September 30, 2025 June 30, 2025 September 30, 2024 Percentage Change
------------------ ----------------- ------------------ ----------------- ----
Last
% of % of % of 3 Last 12
$ Amount Total $ Amount Total $ Amount Total Mos Mos
---------- ------ ---------- ----- ---------- ------ ---- ------- ----
LOANS:
Construction and land
development loans $ 312,318 17.2% $ 328,351 18.3% $ 373,486 20.8% -4.9% -16.4%
Residential real
estate loans 411,592 22.7% 452,458 25.3% 446,109 24.8% -9.0% -7.7%
Commercial real
estate loans 981,091 54.2% 911,390 50.9% 871,280 48.4% 7.6% 12.6%
Commercial and
industrial loans 105,217 5.8% 97,699 5.5% 106,249 5.9% 7.7% -1.0%
Consumer loans 1,204 0.1% 1,075 0.1% 1,977 0.1% 12.0% -39.1%
--------- ------ --------- ----- --------- ------ ---- ------- ---
Total Gross Loans $1,811,422 100.0% $1,790,973 100.0% $1,799,101 100.0% 1.1% 0.7%
--------- --------- ---------
Less: Allowance for
credit losses (18,831) (19,057) (18,327)
Net deferred loan
fees (4,348) (4,484) (5,216)
--------- --------- ---------
Net Loans $1,788,243 $1,767,432 $1,775,558
========= ========= =========
DEPOSITS:
Non-interest bearing
deposits $ 324,717 17.9% $ 330,045 18.4% $ 347,575 18.4% -1.6% -6.6%
Interest-bearing
deposits:
Demand deposits 123,231 6.8% 124,090 6.9% 197,527 10.4% -0.7% -37.6%
Savings and NOW
deposits 125,214 6.9% 116,069 6.5% 61,893 3.3% 7.9% 102.3%
Money market
deposits 458,946 25.3% 463,904 25.8% 451,936 23.9% -1.1% 1.6%
Time deposit
$250,000 or more 501,332 27.7% 490,692 27.2% 532,201 28.0% 2.2% -5.8%
Time deposit less
than $250,000 277,395 15.3% 273,747 15.2% 302,537 16.0% 1.3% -8.3%
--------- ------ --------- ----- --------- ------ ---- ------- ---
Total Deposits $1,810,835 100.0% $1,798,547 100.0% $1,893,669 100.0% 0.7% -4.4%
========= ====== ========= ===== ========= ====== ==== ======= ===
BORROWINGS:
Subordinated debt,
net 69,837 100.0% 71,238 100.0% 72,940 100.0% -2.0% -4.3%
--------- ------ --------- ----- --------- ------ ---- ------- ---
Total Borrowings $ 69,837 100.0% $ 71,238 100.0% $ 72,940 100.0% -2.0% -4.3%
Total Deposits and
Borrowings $1,880,672 $1,869,785 $1,966,609 0.6% -4.4%
========= ========= ========= ==== ======= ===
Core customer funding
sources (1) $1,289,952 68.6% $1,329,804 71.1% $1,471,350 74.8% -3.0% -12.3%
Brokered and listing
service sources (2) 520,883 27.7% 468,743 25.1% 422,319 21.5% 11.1% 23.3%
Subordinated debt,
net (3) 69,837 3.7% 71,238 3.8% 72,940 3.7% -2.0% -4.3%
--------- ------ --------- ----- --------- ------ ---- ------- ---
Total Funding
Sources $1,880,672 100.0% $1,869,785 100.0% $1,966,609 100.0% 0.6% -4.4%
========= ====== ========= ===== ========= ====== ==== ======= ===
(1) Includes ICS, CDARS, and reciprocal deposits maintained by customers,
which represent sweep accounts tied to customer operating accounts.
(2) Consists of certificates of deposit $(CD)$ through multiple listing
services and multiple brokered deposit services, as well as ICS and CDARS
one-way certificates of deposit and regional money market accounts.
Excludes $114.9 million in core deposits placed in reciprocal networks
for FDIC insurance coverage that will be classified as brokered deposits
on the call report in pursuant to rule 12 CFR 337.6(e) as of September
30, 2025.
(3) Subordinated debt obligation qualifies as Tier 2 capital at the holding
company and Tier 1 capital at the Bank.
UNAUDITED AVERAGE BALANCE SHEETS, INTEREST AND RATES
(In thousands)
For the three months ended For the three months ended
September 30, 2025 September 30, 2024
----------------------------------- ----------------------------------- ----
Interest Average Interest Average
Income/ Yields/ Rate Income/ Yields/ Rate
Average Expense (annualized) Average Expense (annualized)
Balance (3)(4) (3)(4) Balance (3)(4) (3)(4)
---------- --------- ------------ ---------- --------- ------------ ----
ASSETS:
Interest-earning
assets:
Loans (1)(2) $1,805,016 $ 30,688 6.75% $1,807,882 $ 31,615 6.94%
Securities:
Taxable 52,680 435 3.28% 54,523 397 2.89%
Tax-exempt 35,260 342 3.85% 35,881 372 4.11%
Interest-bearing
deposits at other
financial
institutions 1,037 11 4.21% 692 10 5.73%
Federal funds sold 99,896 1,060 4.21% 105,949 1,275 4.77%
--------- -------- --------- --------
Total
interest-earning
assets $1,993,889 $ 32,536 6.47% $2,004,927 $ 33,669 6.66%
Other assets 125,605 121,201
--------- ---------
Total assets $2,119,494 $2,126,128
========= =========
Liabilities and
Stockholders' Equity:
Interest-bearing
liabilities:
Interest-bearing
demand deposits $ 120,112 $ 1,071 3.54% $ 173,996 $ 2,117 4.83%
Savings and NOW
deposits 119,467 467 1.55% 61,259 206 1.33%
Money market deposits 463,948 4,623 3.95% 445,730 5,277 4.70%
Time deposits 772,176 8,369 4.30% 759,247 9,543 4.99%
--------- -------- --------- --------
Total
interest-bearing
deposits $1,475,703 $ 14,530 3.91% $1,440,232 $ 17,143 4.72%
Federal funds
purchased 2,338 28 4.75% 19,001 277 5.78%
Subordinated debt,
net 70,793 804 4.51% 72,901 828 4.51%
--------- -------- --------- --------
Total
interest-bearing
liabilities $1,548,834 $ 15,362 3.94% $1,532,134 $ 18,248 4.73%
Demand deposits and
other liabilities 355,621 368,349
--------- ---------
Total liabilities $1,904,455 $1,900,483
Stockholders' Equity 215,039 225,645
--------- ---------
Total Liabilities and
Stockholders' Equity $2,119,494 $2,126,128
========= =========
Interest Rate Spread 2.53% 1.94%
Net Interest Income $ 17,174 $ 15,421
======== ========
Net Interest Margin 3.42% 3.05%
(1) Includes loans classified as non-accrual
(2) Total loan interest income includes amortization of deferred loan fees,
net of deferred loan costs
(3) Income and yields for all periods presented are reported on a
tax-equivalent basis using the federal statutory rate of 21%
(4) Refer to "Unaudited Reconciliation of Certain Non-GAAP Financial
Measures" for reconciliation of non-GAAP measures
UNAUDITED AVERAGE BALANCE SHEETS, INTEREST AND RATES
(In thousands)
For the nine months ended September For the nine months ended September
30, 2025 30, 2024
----------------------------------- ----------------------------------- ----
Interest Average Interest Average
Income/ Yields/ Rate Income/ Yields/ Rate
Average Expense (annualized) Average Expense (annualized)
Balance (3)(4) (3)(4) Balance (3)(4) (3)(4)
---------- --------- ------------ ---------- --------- ------------ ----
ASSETS:
Interest-earning
assets:
Loans (1)(2) $1,820,771 $ 94,242 6.92% $1,773,050 $ 93,852 7.08%
Securities:
Taxable 52,926 1,285 3.25% 55,478 1,262 3.04%
Tax-exempt 35,298 1,013 3.84% 36,670 1,053 3.84%
Interest-bearing
deposits at other
financial
institutions 1,274 44 4.62% 662 27 5.45%
Federal funds sold 105,674 3,342 4.23% 93,931 3,523 5.01%
--------- -------- --------- --------
Total
interest-earning
assets $2,015,943 $ 99,926 6.63% $1,959,791 $ 99,717 6.80%
Other assets 119,819 125,068
--------- ---------
Total assets $2,135,762 $2,084,859
========= =========
Liabilities and
Stockholders' Equity:
Interest-bearing
liabilities:
Interest-bearing
demand deposits $ 113,969 $ 3,123 3.66% $ 164,192 $ 6,049 4.93%
Savings and NOW
deposits 102,349 1,079 1.41% 51,119 553 1.45%
Money market deposit 493,366 14,606 3.96% 447,668 15,911 4.75%
Time deposits 785,685 25,994 4.42% 728,459 27,361 5.02%
--------- -------- --------- --------
Total
interest-bearing
deposits $1,495,369 $ 44,802 4.01% $1,391,438 $ 49,874 4.79%
Federal funds
purchased 2,638 93 4.71% 13,279 575 5.79%
FHLB advances -- -- -- 1,095 46 5.62%
Subordinated debt,
net 71,670 2,415 4.51% 72,802 2,468 4.53%
--------- -------- --------- --------
Total
interest-bearing
liabilities $1,569,677 $ 47,310 4.03% $1,478,614 $ 52,963 4.79%
Demand deposits and
other liabilities 354,635 382,591
--------- ---------
Total liabilities $1,924,312 $1,861,205
Stockholders' Equity 211,450 223,654
--------- ---------
Total Liabilities and
Stockholders' Equity $2,135,762 $2,084,859
========= =========
Interest Rate Spread 2.60% 2.01%
Net Interest Income $ 52,616 $ 46,754
======== ========
Net Interest Margin 3.49% 3.19%
(1) Includes loans classified as non-accrual
(2) Total loan interest income includes amortization of deferred loan fees,
net of deferred loan costs
(3) Income and yields for all periods presented are reported on a
tax-equivalent basis using the federal statutory rate of 21%
(4) Refer to "Unaudited Reconciliation of Certain Non-GAAP Financial
Measures" for reconciliation of non-GAAP measures
UNAUDITED SUMMARY FINANCIAL DATA
(Dollars in thousands except share and per share data)
At or For the Three At or For the Nine
Months Ended Months Ended
September 30, September 30,
-------------------------- -------------------------- ----
2025 2024 2025 2024
---------- ---------- ---------- ---------- ----
Per share Data
and Shares
Outstanding
Earnings (loss) per
common share (basic
and diluted) $ 0.52 $ (0.04) $ 1.29 $ 0.60
Book value per common
share $ 24.81 $ 26.15 $ 24.81 $ 26.15
Tangible book value
per common share(2) $ 24.81 $ 23.66 $ 24.81 $ 23.66
Weighted average
common shares (basic
and diluted) 7,704,639 7,601,925 7,682,086 7,607,431
Common shares
outstanding at end
of period 7,703,579 7,602,783 7,703,579 7,602,783
Performance
Ratios
Return on average
assets (annualized) 0.85% 0.05% 0.72% 0.40%
Return on average
equity (annualized) 8.33% 0.47% 7.31% 3.70%
Return on average
common equity
(annualized) 8.40% (0.55)% 7.22% 3.11%
Yield on earning
assets (FTE) (2)
(annualized) 6.47% 6.66% 6.63% 6.80%
Cost of interest
bearing liabilities
(annualized) 3.94% 4.73% 4.03% 4.79%
Net interest spread
(FTE)(2)
(annualized) 2.53% 1.94% 2.60% 2.01%
Net interest margin
(FTE)(2)
(annualized) 3.42% 3.05% 3.49% 3.19%
Non-interest income
as a percentage of
average assets
(annualized) 0.21% 0.17% 0.20% 0.16%
Non-interest expense
to average assets
(annualized) 2.37% 2.47% 2.62% 2.47%
Efficiency ratio(3) 69.50% 81.45% 75.18% 78.68%
Allowance for
Credit Losses
Allowance for credit
losses (ACL)
Beginning balance,
ACL - loans $ 19,057 $ 17,098 $ 19,450 $ 16,506
Add: recoveries 75 11 831 19
Less: charge-offs (235) (1,907) (857) (2,418)
Add: provision for
credit losses -
loans (66) 3,125 (593) 4,220
--------- --------- --------- --------- ----
Ending balance, ACL
- loans $ 18,831 $ 18,327 $ 18,831 $ 18,327
--------- --------- --------- --------- ----
Beginning balance,
reserve for unfunded
commitment (RUC) $ 272 $ 357 $ 287 $ 1,009
Provision for
unfunded
commitments, net 210 (212) 195 (864)
--------- --------- --------- --------- ----
Ending balance, RUC $ 482 $ 145 $ 482 $ 145
--------- --------- --------- --------- ----
Total allowance for
credit losses $ 19,313 $ 18,472 $ 19,313 $ 18,472
========= ========= ========= ========= ====
Allowance for credit
losses on loans to
total gross loans 1.04% 1.02% 1.04% 1.02%
Allowance for credit
losses on loans to
non-performing
loans 80.52% 64.84% 80.52% 64.84%
Net charge-offs to
average gross loans
(annualized) 0.04% 0.42% NM 0.18%
Concentration
Ratios
Commercial real
estate loans to
total capital (4) 356.02% 360.26% 356.02% 360.26%
Construction loans to
total capital (5) 102.61% 118.15% 102.61% 118.15%
Past due and
Non-performing
Assets
Loans 30-89 days past
due and accruing to
total gross loans 1.40% 0.61% 1.40% 0.61%
Loans 90 days past
due and accruing to
total gross loans 0.00% 0.00% 0.00% 0.00%
Non-accrual loans to
total gross loans 1.29% 1.57% 1.29% 1.57%
Other real estate
owned $ -- $ -- $ -- $ --
Non-performing loans $ 23,386 $ 28,264 $ 23,386 $ 28,264
Non-performing assets
to total assets 1.10% 1.27% 1.10% 1.27%
Regulatory
Capital Ratios
(Bank only) (1)
Total risk-based
capital ratio 16.18% 16.96% 16.18% 16.96%
Tier 1 risk-based
capital ratio 15.16% 15.97% 15.16% 15.97%
Leverage ratio 13.42% 13.98% 13.42% 13.98%
Common equity tier 1
ratio 15.16% 15.97% 15.16% 15.97%
Other information
Common shares closing
stock price $ 20.83 $ 18.45 $ 20.83 $ 18.45
Tangible equity /
tangible assets (2) 10.28% 9.39% 10.28% 9.39%
Average tangible
equity / average
tangible assets (2) 10.15% 9.86% 9.90% 10.02%
Number of full time
equivalent
employees 174 201 174 201
Number of full
service branch
offices 6 6 6 6
(1) Regulatory capital ratios as of September 30, 2025 are preliminary
(2) Refer to "Unaudited Reconciliation of Certain Non-GAAP Financial
Measures" for reconciliation of non-GAAP measures
(3) Efficiency ratio is calculated as non-interest expense as a percentage of
net interest income and non-interest income
(4) Commercial real estate includes only non-owner occupied, multifamily, and
construction loans as a percentage of Bank capital
(5) Construction loans as a percentage of Bank capital
Unaudited Reconciliation of Certain Non-GAAP Financial Measures
(Dollars In thousands)
For the three months ended For the nine months ended
September 30, September 30,
2025 2024 2025 2024
---------- ---------- ---------- ---------- ----
Core net interest
margin (FTE)
Net interest
income (GAAP) $ 17,102 $ 15,343 $ 52,403 $ 46,533
FTE adjustment on
tax-exempt
securities 72 78 213 221
--------- --------- --------- --------- ----
Net interest
income (FTE)
(non-GAAP) 17,174 15,421 52,616 46,754
Nonrecurring
interest income
adjustment from
nonaccrual
loans. 595 984 827 1,848
--------- --------- --------- --------- ----
Core net interest
income (FTE)
(non-GAAP) 17,769 16,405 53,443 48,602
--------- --------- --------- --------- ----
Average interest
earning assets 1,993,889 2,004,927 2,015,943 1,959,791
Net interest
margin (GAAP) 3.40% 3.06% 3.48% 3.17%
Net interest
margin (FTE)
(non-GAAP) 3.42% 3.05% 3.49% 3.19%
Core net interest
margin (FTE)
(non-GAAP) 3.54% 3.25% 3.54% 3.32%
For the three months ended For the nine months ended
September 30, September 30,
2025 2024 2025 2024
---------- ---------- ---------- ---------- ----
Yield on earning
assets (FTE)
Total interest
income (GAAP) $ 32,464 $ 33,591 $ 99,713 $ 99,496
FTE adjustment on
tax-exempt
securities 72 78 213 221
--------- --------- --------- --------- ----
Total interest
income (FTE)
(non-GAAP) 32,536 33,669 99,926 99,717
--------- --------- --------- --------- ----
Average interest
earning assets 1,993,889 2,004,927 2,015,943 1,959,791
Yield on earning
assets (GAAP) 6.46% 6.65% 6.61% 6.79%
Yield on earning
assets (FTE)
(non-GAAP) 6.47% 6.66% 6.63% 6.80%
For the three months ended For the nine months ended
September 30, September 30,
2025 2024 2025 2024
---------- ---------- ---------- ---------- ----
Net interest
spread (FTE)
Yield on earning
assets (GAAP) 6.46% 6.65% 6.61% 6.79%
Yield on earning
assets (FTE)
(non-GAAP) 6.47% 6.66% 6.63% 6.80%
Yield on
interest-bearing
liabilities
(GAAP) 3.94% 4.73% 4.03% 4.79%
--------- --------- ---------- ---------- ---
Net interest
spread (GAAP) 2.52% 1.92% 2.58% 2.00%
Net interest
spread (FTE)
(non-GAAP) 2.53% 1.94% 2.60% 2.01%
As of September 30, As of September 30,
-------------------------- -------------------------- ----
2025 2024 2025 2024
---------- ---------- ---------- ---------- ----
Tangible common
stockholders'
equity
Total stockholders
equity (GAAP) $ 218,363 $ 226,051 $ 218,363 $ 226,051
Less: intangible
assets -- (18,881) -- (18,881)
--------- --------- --------- --------- ----
Tangible
stockholders'
equity
(non-GAAP) 218,363 207,170 $ 218,363 207,170
Less: preferred
stock (27,263) (27,263) (27,263) (27,263)
--------- --------- --------- --------- ----
Tangible common
stockholders'
equity
(non-GAAP) 191,100 179,907 191,100 179,907
--------- --------- --------- --------- ----
Common shares
outstanding 7,703,579 7,602,783 7,703,579 7,602,783
Tangible book
value per common
share (non-GAAP) $ 24.81 $ 23.66 $ 24.81 $ 23.66
As of September 30, As of September 30,
-------------------------- -------------------------- ----
2025 2024 2025 2024
---------- ---------- ---------- ---------- ----
Stockholders
equity, adjusted
Total stockholders
equity (GAAP) $ 218,363 $ 226,051 $ 218,363 $ 226,051
Less: intangible
assets -- (18,881) -- (18,881)
--------- --------- --------- --------- ----
Total tangible
stockholders
equity
(non-GAAP) 218,363 207,170 218,363 207,170
--------- --------- --------- --------- ----
As of September 30, As of September 30,
-------------------------- -------------------------- ----
2025 2024 2025 2024
---------- ---------- ---------- ---------- ----
Total tangible
assets
Total assets
(GAAP) $2,124,789 $2,224,599 $2,124,789 $2,224,599
Less: intangible
assets -- (18,881) -- (18,881)
--------- --------- --------- --------- ----
Total tangible
assets
(non-GAAP) 2,124,789 2,205,718 2,124,789 2,205,718
--------- --------- --------- --------- ----
For the three months ended For the nine months ended
September 30, September 30,
-------------------------- -------------------------- ----
2025 2024 2025 2024
---------- ---------- ---------- ---------- ----
Average tangible
stockholders'
equity
Total average
stockholders'
equity (GAAP) $ 215,039 $ 225,645 $ 211,450 $ 223,654
Less: average
intangible
assets -- (17,738) -- (16,405)
--------- --------- --------- --------- ----
Total average
tangible
stockholders'
equity
(non-GAAP) 215,039 207,907 211,450 207,249
--------- --------- --------- --------- ----
For the three months ended For the nine months ended
September 30, September 30,
-------------------------- -------------------------- ----
2025 2024 2025 2024
---------- ---------- ---------- ---------- ----
Average tangible
assets
Total average
assets (GAAP) $2,119,494 $2,126,128 $2,135,762 $2,084,859
Less: average
intangible
assets -- (17,738) -- (16,405)
--------- --------- --------- --------- ----
Total average
tangible assets
(non-GAAP) 2,119,494 2,108,390 2,135,762 2,068,454
--------- --------- --------- --------- ----
Contact: Billy Freesmeier
Chief of Staff
(703) 481-4579
View original content to download multimedia:https://www.prnewswire.com/news-releases/mainstreet-bancshares-inc-reports-another-profitable-quarter-302594875.html
SOURCE MainStreet Bancshares, Inc.
(END) Dow Jones Newswires
October 27, 2025 08:00 ET (12:00 GMT)