MainStreet Bancshares posts record Q1 net income of $8.2M, up 50% YoY; EPS $1.01

MainStreet Bancshares, Inc.

2023-Q1 EPS reported $1.01 revenue$590,000

Net interest income $21.1M (+38.8% YoY); NIM expanded 76 bps to 4.69%.
Loans grew 14.4% to $1.62B; deposits up 13.8% to $1.63B; zero nonperforming assets.
ROAA 1.75%, ROAE 16.4%, tangible book value $22.22 per share.
CECL adoption increased credit reserves 17.6% to $16.6M; AOCI at -3.7% of total capital.
Avenu embedded-banking platform on track for April 30 launch; three clients signed.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MainStreet Bancshares, Inc. reported the quarter-ended March 31, 2023 results: revenue $21.1 million, net income $8.2 million, EPS $1.01 EPS.

Period: the quarter-ended March 31, 2023
Revenue: $21.1 million
Net income: $8.2 million
EPS: $1.01 EPS
Result: reported results

Exact text from the filing

then in the U.K. While in the U.K., Mr. Dick was an adviser to the Bank of England on modernizing their approach to risk-based banking supervision. 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. MainStreet Bank benefited from having an asset-sensitive balance sheet during a

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Source: SEC EDGAR

accession 0001437749-23-010371

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