MainStreet Bancshares corrects CRE loan-to-value ratios; Q1 net income $2.77M

MainStreet Bancshares, Inc.

Corrected multi-family non-owner occupied CRE LTV from 90% to 69% and overall non-owner occupied CRE from 70% to 63%.
Q1 2024 net income of $2.77 million; net interest margin compressed to 3.24%.
Strong asset quality with low past-due and non-performing loans; multifamily housing demand strong in DC metro.
Avenu embedded banking solution launched, emphasizing compliance and safety and soundness.

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 0.9

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

Period: the first quarter of 2024
Net income: $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.

View on SEC.gov

1349 earnings releases filed in the last 30 days. Browse all earnings releases →

MainStreet Bancshares, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-012833

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.