MainStreet Bancshares reports record 2022 net income of $26.7M, up 20% YoY

MainStreet Bancshares, Inc.

2022-FY EPS reported $3.26 revenue$88,679,000

Record net income of $26.7M for 2022, up 20.3% YoY; EPS $3.26 basic and diluted.
Net interest margin widened 84 bps to 4.19% for year; Q4 NIM 4.70% vs 3.49% prior year.
Loan portfolio grew 17.8% to $1.58B; zero nonperforming assets; total assets $1.93B.
Deposits up 7% to $1.51B; core deposits 69%; efficiency ratio improved to 52% from 55%.
Avenu embedded banking solution onboarded first client, targeting full operation in 2023.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MainStreet Bancshares, Inc. reported the year ended December 31, 2022 results: revenue $70 million, net income $26.7 million, EPS $3.26 earnings per common share (basic and diluted).

Period: the year ended December 31, 2022
Revenue: $70 million
Net income: $26.7 million
EPS: $3.26 earnings per common share (basic and diluted)
Result: reported results

Exact text from the filing

solution. The markets rewarded our upward momentum, efficiency, and focus on innovation with solid interest in our shares and improved valuations.” Net interest income reached $70 million in 2022, up 30.8% from the previous year’s $53.5 million. As the Federal Reserve undertook seven interest rate increases in 2022, MainStreet Bank benefited from having an

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Source: SEC EDGAR

accession 0001437749-23-001543

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