MainStreet Bancshares Q3 EPS -$0.04; core deposits rise $33M, Avenu BaaS launched

MainStreet Bancshares, Inc.

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

Net loss per common share -$0.04; YTD EPS $0.60.
Net interest margin impacted by $984K reversal on nonaccrual loans; Q3 NIM 3.05%.
$1.9M charge-offs and $1M provision expense; YTD principal losses ~0.1% of loans.
Core deposits grew $33M to $1.47B (78% of total deposits); $233M noncore deposits can reprice.
Avenu BaaS platform launched; first fintech client expected early Nov, four more to follow.

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