MainStreet Bancshares Q2 net income $6.9M, up 17% YoY; EPS $1.86, margin 4.45%

MainStreet Bancshares, Inc.

2023-Q2 EPS reported $1.86 revenue$1,125,000

Net income $6.9M in Q2 2023, up 17.1% YoY; diluted EPS $1.86.
Net interest margin (tax-equivalent) 4.45%; ROAA 1.60%, ROAE 14.87%.
Loan portfolio $1.66B, up 15.7% YoY and 1.3% QoQ; net charge-offs $0.
Efficiency ratio 53.48%; tangible book value $22.73 per common share.
Avenu embedded banking platform onboarded first client; expected to accelerate deposit growth.

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 quarter ended June 30, 2023 results: net income $6.9 million, EPS $1.86.

Period: the quarter ended June 30, 2023
Net income: $6.9 million
EPS: $1.86
Result: reported results

Exact text from the filing

reported net income of $6.9 million for the quarter ended June 30, 2023, in line with expectations. This represents a 17.1% increase from the year-earlier second quarter. Performance through the first half of 2023 remains very strong (returns are annualized): Return on average assets: 1.60% Return on average equity: 14.87% Net interest margin (tax equivalent): 4.45% Efficiency ratio: 53.48% Allowance for credit losses: 1.04% Liquidity coverage ratio: 124% Core deposit ratio: 74% FDIC insured deposits / total deposits: 76% Net charge-offs: $0 Earnings per common share: $1.86

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Source: SEC EDGAR

accession 0001437749-23-020493

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