Mainstreet Bank Limited

MainStreet Bank Inaugurates Its Avenu Software as a Service (SaaS) Technology with Its First Client, SafariPay

Retrieved on: 
Wednesday, October 18, 2023
As a service, Family, Mainstreet Bank Limited, Software, Friends, Safety, European, Software as a service, Mobile phone, Avenue Capital Group, Service

FAIRFAX, Va., Oct. 18, 2023 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, announces the launch of Avenu's fully integrated Software as a Service (SaaS) technology along with its first client on the new solution—SafariPay.

Key Points: 
  • FAIRFAX, Va., Oct. 18, 2023 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, announces the launch of Avenu's fully integrated Software as a Service (SaaS) technology along with its first client on the new solution—SafariPay.
  • The Avenu team announced that SafariPay's global money transmittance service known as PaySii is its first onboarded client.
  • The Avenu team relied upon its collective experience with traditional Banking as a Service (BaaS) clients as a baseline to design and build its new SaaS technology.
  • The design fully integrated digital tools into Avenu's SaaS technology that are aligned with best practices for safety and soundness and compliance purposes.

MainStreet Bancshares, Inc., Reports Record Earnings for 1st Quarter 2023

Retrieved on: 
Monday, April 17, 2023
NIM, Insurance, Bank, Comprehensive income, Federal, Mainstreet Bank Limited, Pressure, Current Expected Credit Losses, AOCI, Washington Metro, Risk management, FDIC, TBV, Prudential, IntraFi Network, Federal Reserve, Investment, CECL, Architecture, Growth, EPS, Environment, Safety, Cryptocurrency

FAIRFAX, Va., April 17, 2023 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, reported record net income of $8.2 million for the quarter-ended March 31, 2023.  This represents a 50% increase from the net income reported in the 1st quarter of 2022.  First-quarter results represent:

Key Points: 
  • Net interest income reached $21.1 million in the quarter ended March 31, 2023, up 38.8% from the year-earlier first quarter's $15.2 million.
  • "Implementing the Current Expected Credit Losses (CECL) accounting standard in the first quarter of 2023 resulted in a 15.6% increase in credit reserves.
  • The loan portfolio grew 14.4% to $1.62 billion as of March 31, 2023, up from $1.41 billion in the year-earlier first quarter.
  • The Company's efficiency ratio stood at 53% for the quarter ended March 31, 2023, from 55% a year earlier.

MainStreet Bancshares Names Two Senior Technology Executives

Retrieved on: 
Wednesday, February 15, 2023
Information security, McCrory, Mainstreet Bank Limited, Stoutenburg, CISO, CISSP, Information, Engineering, Senior, Privacy, Risk, C Level Design, Architecture, Risk management, Bank, Technical Service Council, CRISC, Management

FAIRFAX, Va., Feb. 15, 2023 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, announced two key appointments to its technology team.

Key Points: 
  • FAIRFAX, Va., Feb. 15, 2023 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank , announced two key appointments to its technology team.
  • Andrew Stoutenburgh has joined the $1.9 billion-asset community bank as Senior Vice President and Chief Technology Officer, and Matt McCrory has been promoted to Senior Vice President and Chief Information Security Officer.
  • The two appointments underscore MainStreet Bank's continuing efforts to seize opportunities while managing risk as it pursues its growth strategy, said Jeff W. Dick , Chairman and CEO of MainStreet Bancshares and MainStreet Bank.
  • As CTO, Stoutenburgh drives MainStreet Bank's technology vision and implementation, including technology investment, architecture, and engineering.

National Capital Bancorp, Inc. Announces Richard B. (Randy) Anderson, Jr. to Retire

Retrieved on: 
Wednesday, November 23, 2022
Banking, Professional Services, Finance, NCB, Multimedia, Culture, BB, OTC Markets Group, Mainstreet Bank Limited, Treasury, Jimmy, Growth, Capitol Hill, Truist Financial, Monroe County Courthouse (Clarendon, Arkansas), Bank, Management

National Capital Bancorp, Inc. (the Company) announced today that Richard B.

Key Points: 
  • National Capital Bancorp, Inc. (the Company) announced today that Richard B.
  • (Randy) Anderson, Jr. has decided to retire as Chief Executive Officer of its subsidiary, The National Capital Bank of Washington (the Bank) on December 31, 2022 after a distinguished 47-year career including the last seven years with the Bank.
  • Mr. Anderson will continue to serve as President and Chief Executive Officer of the Company and a director of the Bank.
  • The National Capital Bank of Washington, a wholly owned subsidiary of National Capital Bancorp, Inc. (OTC Pink: NACB), was founded in 1889 and is Washingtons Oldest Bank.

MainStreet Bank Recognized for Top 10% Performance Among Its Peer Group

Retrieved on: 
Wednesday, August 31, 2022
Banking as a service, Mainstreet Bank Limited, COVID-19, Risk management, CEO, Technology, FDIC, Government, NASDAQ, SBA, Solution, Coronavirus, Maintenance, Commonwealth, Financial technology, Mobile backend as a service, Multimedia, Software as a service, Debit card, Risk, Bank, Avenue Capital Group, Private Securities Litigation Reform Act, MainStreet, Acquisition, ATM, Cryptocurrency, Online shopping

FAIRFAX, Va., Aug. 31, 2022 /PRNewswire/ -- MainStreet Bank, the wholly owned subsidiary of MainStreet Bancshares, Inc. (NASDAQ: MNSB) (NASDAQ: MNSBP), announced it has earned a second quarter 2022 top ranking from Irvine, California-based CB Resource Risk Management and Planning.

Key Points: 
  • 29 out of 599 peer group institutions nationally for the period ended June 30, 2022, data from CB Resource showed.
  • The ranking places MainStreet Bank in the top 10% nationally among this peer group.
  • MainStreet Bank expects to tap into low-cost deposits, fee income, and new markets with the Avenuoffering, Dick noted.
  • 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.

MainStreet Bancshares Announces Formation of Community Development Subsidiary

Retrieved on: 
Wednesday, August 10, 2022
Commonwealth, Debit card, Multimedia, SBA, Community development financial institution, CEO, CDE, MainStreet, CFO, New Markets Tax Credit Program, Technology, Financial technology, Private Securities Litigation Reform Act, Investment, Sale, Community development, District, Mobile backend as a service, Department of the Treasury, Lifting, ATM, Government, Bank, Income, COVID-19, Acquisition, CDFI, Community Development Financial Institutions Fund, Coronavirus, Community, FDIC, Maintenance, Mainstreet Bank Limited, Solution, Community capitalism, Housing

FAIRFAX, Va., Aug. 10, 2022 /PRNewswire/ -- The board of directors of MainStreet Bancshares Inc. announced the formation of MainStreet Community Capital, its new community development subsidiary.

Key Points: 
  • FAIRFAX, Va., Aug. 10, 2022 /PRNewswire/ -- The board of directors of MainStreet Bancshares Inc. announced the formation of MainStreet Community Capital, its new community development subsidiary.
  • "Lifting up communities and unlocking their potential starts with investment, and we intend to use MainStreet Community Capital to leverage opportunity for underserved and underdeveloped areas in our market," said Jeff W. Dick, chairman and CEO of MainStreet Bancshares and MainStreet Bank.
  • MainStreet Community Capital has earned its designation as a Community Development Entity (CDE) as defined under the U.S. Treasury Department's Community Development Financial Institution (CDFI) Fund.
  • ABOUT MAINSTREET BANK: MainStreet Bank will launch its proprietary Fintech Banking as a Service (BaaS) solution called Avenulater this year to provide a comprehensive solution for the Fintech community.

MainStreet Bank Promotes Tom Floyd to Chief Lending Officer

Retrieved on: 
Thursday, May 26, 2022
Private Securities Litigation Reform Act, Nasdaq, Multimedia, Bank, Government, Solution, Financial technology, Coronavirus, Mainstreet Bank Limited, ATM, Association, COVID-19, National Institute of Bank Management, Software, MainStreet, Technology, SBA, Maintenance, Mobile backend as a service, Software as a service, Acquisition, Real estate, Science, Service, Virginia Tech

FAIRFAX, Va., May 26, 2022 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, announced it has promoted Tom Floyd to Chief Lending Officer, entrusting him with strategic leadership over a growing loan portfolio that currently exceeds $1.4 billion.

Key Points: 
  • FAIRFAX, Va., May 26, 2022 /PRNewswire/ --MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, announced it has promoted Tom Floyd to Chief Lending Officer, entrusting him with strategic leadership over a growing loan portfolio that currently exceeds $1.4 billion.
  • Tom Floyd has been a lending powerhouse and a great team player since his arrival at MainStreet Bank.
  • Floyd, who joined the $1.8 billion-asset bank in 2017, was previously Senior Vice President and Regional Lending Manager.
  • "Tom has been a lending powerhouse and a great team player since his arrival at MainStreet Bank," said Abdul Hersiburane, President of MainStreet Bank.

The National Capital Bank of Washington Appoints James (Jimmy) Olevson as President

Retrieved on: 
Monday, April 25, 2022
Banking, Professional Services, Finance, Treasury, Pepperdine University, Mainstreet Bank Limited, BB, MBA, Association, NCB, Sociology, Capitol Hill, Truist Financial, National Institute of Bank Management, Jimmy, OTC Markets Group, Monroe County Courthouse (Clarendon, Arkansas), Multimedia, University, History of the University of California, Santa Barbara, Loudoun County Fire and Rescue Department, Bank

The National Capital Bank of Washington (NCB) is pleased to welcome James (Jimmy) Olevson as its new President.

Key Points: 
  • The National Capital Bank of Washington (NCB) is pleased to welcome James (Jimmy) Olevson as its new President.
  • With over 25 years of community banking experience, Olevson served as Chief Lending Officer at MainStreet Bank and held senior lending positions at Middleburg Bank and BB&T Bank.
  • I am excited to join NCB to work with Randy and help lead the Banks strategic growth initiatives, said Olevson.
  • The National Capital Bank of Washington, a wholly owned subsidiary of National Capital Bancorp, Inc. (OTC Pink: NACB), was founded in 1889 and is Washingtons Oldest Bank.

MainStreet Bank Named Outstanding Large Business by Dulles Regional Chamber of Commerce

Retrieved on: 
Monday, April 11, 2022
Private Securities Litigation Reform Act, Organization, Mobile backend as a service, SBA, Multimedia, Coronavirus, Paycheck Protection Program, Financial technology, Commonwealth, Debit card, CEO, Senior, Government, ATM, Bank, Technology, Acquisition, Nasdaq, Mainstreet Bank Limited, COVID-19, Solution, Galaxy Award, MainStreet, Commerce, Maintenance, FDIC, Property management, Management

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.

Key Points: 
  • 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.
  • The $1.7 billion-asset bank received the civic organization's Galaxy Award, which recognizes 2021's outstanding business with 50 or more employees.
  • The award is given to a business that demonstrates excellence in business philosophy and support of the business community, according to the Dulles Regional Chamber of Commerce.
  • "The Dulles Regional Chamber of Commerce is a vital asset to our business community, and MainStreet Bank is a proud member," Dick said.

MainStreet Bancshares President Charles Brockett to Retire

Retrieved on: 
Friday, March 18, 2022
Private Securities Litigation Reform Act, Family, EagleBank, Mobile backend as a service, SBA, Multimedia, Coronavirus, Financial technology, Commonwealth, Debit card, CEO, Government, ATM, Bank, Mainstreet Bank Limited, Technology, Acquisition, COVID-19, First Commercial Bank, Solution, MainStreet, Maintenance, FDIC, Online gambling, Management, Chris

FAIRFAX, Va., March 18, 2022 /PRNewswire/ -- Charles (Chris) Brockett, who helped steer MainStreet Bancshares Inc., a $1.7 billion bank holding company, through five years of exceptional growth, announced he is retiring as the bank holding company's president effective March 31.

Key Points: 
  • FAIRFAX, Va., March 18, 2022 /PRNewswire/ -- Charles (Chris) Brockett, who helped steer MainStreet Bancshares Inc., a $1.7 billion bank holding company, through five years of exceptional growth, announced he is retiring as the bank holding company's president effective March 31.
  • Brockett will remain a member of the board of directors of MainStreet Bancshares, which he joined as president in January 2017.
  • He also previously served for three years as president of its key operating subsidiary, MainStreet Bank.
  • Before joining MainStreet Bank and MainStreet Bancshares, he held senior executive positions at EagleBank, Virginia Heritage Bank (co-founder), and First Commercial Bank.