MainStreet Bancshares, Inc. Reports First Cash Dividend
MainStreet Bancshares (Nasdaq: MNSB, MNSBP) has declared its first cash dividend of $0.05 per share, payable on February 10, 2022, to stockholders of record by February 3, 2022. As of December 31, 2021, the company reported $1.65 billion in assets and $189 million in stockholders' equity. The Board of Directors plans to review and consider future dividends quarterly, depending on the company's financial condition. MainStreet Bank also launched its new Banking as a Service platform, Avenu, to enhance services for fintech partners.
- Declared first cash dividend of $0.05 per share, signaling strong financial performance.
- Reported $1.65 billion in assets and $189 million in stockholders' equity as of December 31, 2021.
- Launched Avenu™ platform for fintechs, enabling quick onboarding in 60 days.
- None.
FAIRFAX, Va., Jan. 25, 2022 /PRNewswire/ -- The Board of Directors of MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, declared a dividend of
MainStreet Bank is a community bank that serves the greater Washington DC metropolitan area. The Company had
"The Company's performance has been strong and consistent over the past several years," said Jeff W. Dick, Chairman & CEO of MainStreet Bancshares, Inc. and MainStreet Bank. "Many of our shareholders have been with us since the very beginning, and the Board of Directors determined that now is the appropriate time to declare a dividend. The Board will consider future dividends on a quarterly basis after its review of the Company's financial condition and results. Any subsequent dividend declaration will be subject to the discretion of the Board of Directors."
The Company recently unveiled Avenu™ — its Banking as a Service (BaaS) platform for fintechs. Avenu™ is a proprietary solution purpose built for the Company's fintech partners. With Avenu™, fintechs can be up and running in as quickly as 60 days. To learn more, visit the website at Avenu.bank. (The ".bank" domain is recognized as the global platform for growth and innovation in the financial services industry.)
ABOUT MAINSTREET BANK: MainStreet operates six branches in Herndon, Fairfax, McLean, Leesburg, Clarendon, and Washington D.C. MainStreet Bank has 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®. 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, 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 MainStreet.bank.
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 the novel coronavirus (COVID-19) outbreak, 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.
Contact: Debra Cope, Investor Relations(202) 468-3814
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SOURCE MainStreet Bancshares, Inc.
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