MainStreet Bank Promotes Tom Floyd to Executive Vice President

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MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP) promotes Tom Floyd to Executive Vice President while retaining his role as Chief Lending Officer. Floyd's promotion highlights his success as a farsighted strategist, overseeing a team of seasoned lenders and a $1.7 billion loan portfolio. He has been instrumental in positioning both the Bank and its clients to navigate changing interest rate dynamics.

Chief Lending Officer Recognized for Breadth of Leadership Contribution

FAIRFAX, Va., Dec. 13, 2023 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, promoted Tom Floyd to Executive Vice President. Floyd remains the Bank's Chief Lending Officer.

"Time and again, Tom demonstrates himself to be a perceptive and disciplined business lender."

The promotion underscores Floyd's achievements as a farsighted strategist at the $2 billion-asset Bank. Floyd, previously a Senior Vice President, oversees a team of seasoned lenders and a $1.7 billion loan portfolio. He maintains a keen focus on cultivating client success through smart lending strategies and has played a pivotal role in positioning both the Bank and its clients to navigate changing interest rate dynamics.  

"Time and again, Tom demonstrates himself to be a perceptive and disciplined business lender," said Jeff W. Dick, Chairman and CEO of the Bank and its holding company. "His contribution is felt across the Bank. He is passionate about cultivating clients and exceeding their needs, and he sets the pace for our lenders by modeling excellence in every facet of the lending process. Tom is moving up to the most senior level of leadership at the Bank because he is trusted for his insights and his actions."

Abdul Hersiburane, President of MainStreet Bank, noted Floyd's critical role in devising strategies that benefit both the Bank and its borrowers. "Using interest rate swaps, Tom and his team enabled many borrowers to lock in desirable long-term fixed-rate loans while generating equally desirable floating-rate returns for the Bank," Hersiburane said. "Now, as interest rates peak with future potential for a declining rate environment, he is helping borrowers take advantage of the possibility of lower interest rates."

Floyd has worked in banking across the Washington metropolitan area for more than 16 years and has been with MainStreet Bank since 2013. He has consistently been one of MainStreet Bank's top performing lenders, with a special focus on real estate and construction lending.

"I'm honored by the trust that the executive leadership of MainStreet Bank continues to place in me," said Floyd. "Our team is relentlessly committed to meeting diverse credit needs by understanding the whole customer. There's nothing more satisfying for me as a lender than to watch our clients grow and thrive."

Floyd earned a Bachelor of Science in finance from Virginia Tech. He is also a graduate of the Virginia Bankers Association School of Bank Management.

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, 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 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
(202) 468-3814

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SOURCE MainStreet Bank

FAQ

What is the recent promotion at MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP)?

Tom Floyd has been promoted to Executive Vice President while maintaining his position as Chief Lending Officer.

What are Tom Floyd's responsibilities at MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP)?

Tom Floyd oversees a team of seasoned lenders and a $1.7 billion loan portfolio, focusing on cultivating client success through smart lending strategies.

Who is the Chairman and CEO of MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP)?

Jeff W. Dick is the Chairman and CEO of the Bank and its holding company.

What is the market capitalization of MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP)?

The market capitalization of MainStreet Bancshares, Inc. is $2 billion.