MainStreet Bancshares guides Q3 loss of $0.04 per share; offloads $21.8M in NPLs

MainStreet Bancshares, Inc.

2024-Q3 EPS reported $0.60 revenue$101,942,000

Estimates $0.04 loss per common share for Q3 2024 after charging off $1.9M and selling $21.8M in nonperforming loans.
Reversed $983K accrued interest; paid $593,519 nonrecurring liquidation expenses; provision of $1M for loan growth.
Nonperforming loans ended Q3 at $28.3M, up from $20.7M at Q2 despite $21.8M disposition.
Core net interest margin expanding to 3.25%; GAAP NIM estimated at 3.05% for Q3.
Avenu embedded banking solution v1 completed Sept. 18, 2024; company notes lessons from other solutions.

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