MainStreet Bancshares Q1 2024 net income $2.77M; NIM 3.24%

MainStreet Bancshares, Inc.

2024-Q1 EPS reported $0.36 revenue$33,265,000

Net income of $2.77 million for Q1 2024, with net interest margin compressed to 3.24%.
Deposit costs increased during the quarter, pressuring margin; management targets improved funding costs.
Asset quality strong with low past-due and non-performing loans; no adverse portfolio trends.
CEO highlights Avenu embedded banking solution as a compliant, bank-owned fintech platform.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

MainStreet Bancshares, Inc. reported first quarter of 2024 results: net income net income of $2.77 million.

Period: first quarter of 2024
Net income: net income of $2.77 million
Result: reported results

Exact text from the filing

MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, reported net income of $2.77 million for the first quarter of 2024.

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Source: SEC EDGAR

accession 0001437749-24-012638

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