MainStreet Bancshares, Inc. (MNSB) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and thank you for joining our Virtual Earnings webcast. My name is Jeff Dick and I'm the Chairman and CEO of Main Street Bank Shares, Inc. and Main Street Bank. I'm joined today with our CFO, Tom Schmelleck, our Chief Lending Officer, Tom Floyd, our Chief Accountant, Alex Vary, and our Chief Risk Officer, Ben Bababal. This presentation will take about 15 minutes. We'll open up for questions for the remainder of the hour. We do have two analysts on the webcast with us today, Chris Marinak from Janie Montgomery Scott and Matt Brees from Stevens, Inc. Both gentlemen will be able to ask their questions and share their comments directly following the presentation. You can submit written questions throughout the presentation using the viewing portal. If we miss your question during the discussion, please reach out after the webcast. We'd be remiss if we didn't point you to our Safe Harbor page that describes the context of forward-looking statements. Finally, we use certain non-GAAP measures, which are identified as such within the presentation materials. Before I get started, I need to apologize for an error in the slide deck that we published this morning. On slide number 38, we listed the weighted average loan-to-value for our multifamily portfolio as 90%. I can't believe we didn't catch that. The correct number is 69%, not 90. This carries over and changes the weighted average of the entire loan to value for the whole investor commercial real estate portfolio to 63%. Again, my apologies. So having said that, we're changing things up a little this time, starting with Avenue and then moving on to the company's performance. A lot has happened in the banking as a service sector this year, and much has been written about the banks that offer banking as a serv...