MainStreet Bank Named Outstanding Large Business by Dulles Regional Chamber of Commerce
MainStreet Bancshares, Inc. (Nasdaq: MNSB) announced that its subsidiary, MainStreet Bank, received the Galaxy Award from the Dulles Regional Chamber of Commerce as the outstanding large business of the year. With $1.7 billion in assets, the bank was recognized for its community focus and support for local businesses, particularly during the pandemic through initiatives like the Paycheck Protection Program. The bank aims to enhance its community impact through the new subsidiary, MainStreet Community Capital, targeting distressed areas in the Washington, D.C. region.
- Recognized with the Galaxy Award for outstanding community support.
- Participation in Paycheck Protection Program helped local businesses.
- Introduction of MainStreet Community Capital to support distressed areas.
- None.
Galaxy Award Recognizes Bank's Community Focus and Support for Local Businesses
FAIRFAX, Va., April 11, 2022 /PRNewswire/ -- MainStreet Bancshares, Inc., (Nasdaq: MNSB) announced that its subsidiary MainStreet Bank has been honored as the outstanding large business of the year by the Dulles Regional Chamber of Commerce.
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"Since MainStreet Bank opened its doors in 2004, it has been a champion for economic advancement in and beyond our Northern Virginia communities," said John Boylan, the chamber's president and CEO. "Jeff Dick, the bank's Chairman and CEO, has shared tremendous energy with the Dulles Regional Chamber of Commerce and has been personally invested in its mission from the day he joined."
During the depths of the pandemic, Boylan noted, the bank jumped into action with its participation in the federal Paycheck Protection Program. Dick has chaired and served on the chamber's board of directors and spearheaded the creation of the Dulles Regional Charitable Fund in 2020, alongside a bank client, Terra Site Constructors.
"The Dulles Regional Chamber of Commerce is a vital asset to our business community, and MainStreet Bank is a proud member," Dick said. "We are humbled to be recognized for living out our mission as a community bank by providing steady support to the individuals, businesses, and other organizations that form Northern Virginia's rich tapestry."
Dick noted that the bank's parent, MainStreet Bancshares Inc., is taking these efforts to the next level with the formation of MainStreet Community Capital, a new community development subsidiary. MainStreet Community Capital's focus is to invigorate distressed, low-income communities in the Washington, D.C., metropolitan area by providing capital and other financial services.
"The chamber has helped the bank since the very beginning to grow and become woven into the community," said Katie Tzitzouris, Senior Vice President and Senior Business Banker at MainStreet Bank. "Now it's coming full circle as we focus on helping the chamber get its message across." Tzitzouris, who is in her second term on the chamber's board of directors, says the bank's role in forming the Dulles Regional Charitable Fund laid the groundwork for creation of the chamber's Corporate Social Opportunity Committee, which she co-chairs.
MainStreet Bank has been committed to innovation from its earliest days, when it established itself as a pioneer of online business banking. Since then, the bank has pursued an environmentally friendly "branch-lite" strategy that gives business customers the ability to Put Our Bank in Your Office® using robust and easy-to-use online business banking technology.
ABOUT MAINSTREET BANK: MainStreet Bank will launch its proprietary Fintech Banking as a Service (BaaS) solution called Avenu™ later this year to provide a comprehensive solution for the Fintech community. Go to Avenu.bank for more information and to join the queue.
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. Its early investment in online banking means the Bank is not restricted by a conventional branching system.
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 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 may contain 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: Jeff W. Dick, Chairman & CEO
(703) 481-4567
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SOURCE MainStreet Bancshares, Inc.
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