Mainstreet Bancshares, Inc.NASDAQ: MNSB

MainStreet Bancshares Inc. Reports Another Profitable Quarter

Oct 27, 2025 at 12:00 PM UTC · Issued by Mainstreet Bancshares, Inc. via PR Newswire

Watch Mainstreet Bancshares explain itMainStreet Bancshares, Inc. (MNSB) Q2 2025 Earnings Call · Replay · Jul 22, 2025

Net Income and Earnings Per Share Exceed Market Expectations

FAIRFAX, Va., Oct. 27, 2025 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the financial holding company for MainStreet Bank, reported a net income of $4.52 million and earnings per common share of $0.52 outperforming expectations of $4.48 million and $0.51 respectively for the quarter-ended September 30, 2025.

"Our core net interest margin is a healthy 3.54% for the third quarter of 2025. Our balance sheet is well-structured for current and anticipated rate changes to continue producing good results," said Alex Vari, Chief Financial Officer of MainStreet Bank. "The outlook for the Bank remains strong, as our team continues to focus on core revenue generation and expense control."

"We continue to see quality opportunities to lend in the government contracting, commercial real estate, construction and owner-occupied space," said Tom Floyd, Chief Lending Officer of MainStreet Bank. "We've worked with a few of our borrowers to improve their credit relationship, and as a result I'm happy to report that we continue to show strong asset quality. Finally, we've been talking with our customers regularly about the shutdown, and they know we stand ready to help them with their financial needs."

On October 16, 2025, the Board of Directors of MainStreet Bancshares, Inc. authorized a new stock repurchase program authorizing the Company to repurchase up to $10.0 million of the Company's common stock. This new stock repurchase program will replace and supersede the Company's existing stock repurchase program which was originally announced on May 19, 2022. The Company and Bank remain well capitalized.

About MainStreet Bank: MainStreet operates six branches in Herndon, Fairfax, McLean, Leesburg, Clarendon, and Washington, D.C. MainStreet Bank has over 55,000 free ATMs and a fully integrated online and mobile banking solution. The Bank is not restricted by a conventional branching system, as it can offer business customers the ability to Put Our Bank in Your Office®. With robust and easy-to-use online business banking technology, MainStreet has "put our bank" in thousands of businesses in the metropolitan area.

MainStreet Bank has a robust line of business and professional lending products, including government contracting lines of credit, commercial lines and term loans, residential and commercial construction, and commercial real estate. MainStreet also works with the SBA to offer 7A and 504 lending solutions. From sophisticated cash management to enhanced mobile banking and instant-issue Debit cards, MainStreet Bank is always looking for ways to improve our customer's experience.

MainStreet Bank was the first community bank in the Washington, D.C., metropolitan area to offer a full online business banking solution. MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS – a solution that provides multi-million-dollar FDIC insurance. Further information on the Bank can be obtained by visiting its website at mstreetbank.com.

This release contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions are intended to identify such forward-looking statements. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, future impacts of pandemic outbreaks, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.

UNAUDITED CONSOLIDATED BALANCE SHEET INFORMATION
(In thousands)

	September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024*		September 30, 2024
ASSETS
Cash and cash equivalents
Cash and due from banks	$	23,940	$	20,888	$	18,384	$	21,351	$	15,319
Interest-bearing deposits at other financial institutions		1,315		864		735		1,711		478
Federal funds sold		102,039		111,532		183,521		184,646		216,317
Total cash and cash equivalents		127,294		133,284		202,640		207,708		232,114
Investment securities available for sale (AFS), at fair value		58,338		56,138		55,935		55,747		58,489
Investment securities held to maturity (HTM), at amortized cost, net of allowance for credit losses of $0 for all periods		14,293		14,846		15,657		16,078		16,016
Restricted securities, at amortized cost		7,005		7,005		7,005		6,873		6,873
Loans, net of allowance for credit losses of $18,831, $19,057, $19,460, $19,450, and $18,327, respectively		1,788,243		1,767,432		1,811,789		1,810,556		1,775,558
Premises and equipment, net		13,212		13,344		13,020		13,287		13,571
Property held for sale, at fair value		3,225		3,225		—		—		—
Accrued interest and other receivables		13,622		15,023		9,607		11,311		11,077
Computer software, net of amortization		—		—		—		—		18,881
Bank owned life insurance		40,433		40,117		39,809		39,507		39,203
Other assets		59,124		64,367		67,383		67,031		52,817
Total Assets	$	2,124,789	$	2,114,781	$	2,222,845	$	2,228,098	$	2,224,599
LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Non-interest bearing deposits	$	324,717	$	330,045	$	345,319	$	324,307	$	347,575
Interest-bearing demand deposits		123,231		124,090		106,033		139,780		197,527
Savings and NOW deposits		125,214		116,069		124,049		64,337		61,893
Money market deposits		458,946		463,904		511,925		560,082		451,936
Time deposits		778,727		764,439		820,999		819,288		834,738
Total deposits		1,810,835		1,798,547		1,908,325		1,907,794		1,893,669
Subordinated debt, net		69,837		71,238		72,138		73,039		72,940
Other liabilities		25,754		31,526		32,764		39,274		31,939
Total Liabilities		1,906,426		1,901,311		2,013,227		2,020,107		1,998,548
Stockholders' Equity:
Preferred stock		27,263		27,263		27,263		27,263		27,263
Common stock		29,833		29,825		29,810		29,466		29,463
Capital surplus		68,895		68,261		67,612		67,823		67,083
Retained earnings		98,793		95,585		92,305		91,150		108,616
Accumulated other comprehensive loss		(6,421)		(7,464)		(7,372)		(7,711)		(6,374)
Total Stockholders' Equity		218,363		213,470		209,618		207,991		226,051
Total Liabilities and Stockholders' Equity	$	2,124,789	$	2,114,781	$	2,222,845	$	2,228,098	$	2,224,599


*	Derived from audited financial statements

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME (LOSS) INFORMATION
(In thousands, except share and per share data)

	Year-to-Date				Three Months Ended
	September 30, 2025		September 30, 2024		September 30, 2025		June 30, 2025		March 31, 2025		December 31, 2024		September 30, 2024
INTEREST INCOME:
Interest and fees on loans	$	94,242	$	93,852	$	30,688	$	32,443	$	31,111	$	31,323	$	31,615
Interest on investment securities
Taxable securities		1,285		1,262		435		431		420		431		397
Tax-exempt securities		800		832		270		267		263		262		294
Interest on interest-bearing deposits at other financial institutions		44		27		11		10		22		15		10
Interest on federal funds sold		3,342		3,523		1,060		1,135		1,147		3,088		1,275
Total interest income		99,713		99,496		32,464		34,286		32,963		35,119		33,591
INTEREST EXPENSE:
Interest on interest-bearing demand deposits		3,123		6,049		1,071		1,004		1,048		2,612		2,117
Interest on savings and NOW deposits		1,079		553		467		391		221		201		206
Interest on money market deposits		14,606		15,911		4,623		4,707		5,276		5,475		5,277
Interest on time deposits		25,994		27,361		8,369		8,595		9,031		10,003		9,543
Interest on federal funds purchased		93		575		28		—		65		—		277
Interest on Federal Home Loan Bank advances		—		46		—		—		—		—		—
Interest on subordinated debt		2,415		2,468		804		799		812		787		828
Total interest expense		47,310		52,963		15,362		15,496		16,453		19,078		18,248
Net interest income		52,403		46,533		17,102		18,790		16,510		16,041		15,343
Provision for credit losses		(398)		3,356		144		(543)		—		3,407		2,913
Net interest income after provision for credit losses		52,801		43,177		16,958		19,333		16,510		12,634		12,430
NON-INTEREST INCOME:
Deposit account service charges		1,625		1,516		557		538		530		481		557
Bank owned life insurance income		926		885		316		308		302		304		302
Gain on retirement of subordinated debt		273		—		145		68		60		—		—
Gain on equity securities		103		—		—		103		—		—		—
Net loss on securities called or matured		—		(48)		—		—		—		—		—
Other non-interest income		199		93		104		49		47		22		27
Total non-interest income		3,126		2,446		1,122		1,066		939		807		886
NON-INTEREST EXPENSES:
Salaries and employee benefits		24,030		22,222		7,366		8,279		8,385		8,253		7,250
Furniture and equipment expenses		2,957		2,806		799		1,141		1,016		830		931
Advertising and marketing		1,582		1,599		571		530		481		600		579
Occupancy expenses		1,114		1,257		400		318		396		358		407
Outside services		3,088		2,458		625		1,290		1,173		1,168		845
Administrative expenses		757		686		259		270		229		243		215
Computer software intangible impairment		—		—		—		—		—		19,721		—
Other operating expenses		8,198		7,508		2,647		2,917		2,634		3,258		2,992
Total non-interest expenses		41,726		38,536		12,667		14,745		14,314		34,431		13,219
Income (loss) before income tax expense (benefit)		14,201		7,087		5,413		5,654		3,135		(20,990)		97
Income tax expense (benefit)		2,641		900		896		1,064		682		(4,823)		(168)
Net income (loss)		11,560		6,187		4,517		4,590		2,453		(16,167)		265
Preferred stock dividends		1,617		1,617		539		539		539		539		539
Net income (loss) available to common shareholders	$	9,943	$	4,570	$	3,978	$	4,051	$	1,914	$	(16,706)	$	(274)
Earnings (loss) per common share, basic and diluted	$	1.29	$	0.60	$	0.52	$	0.53	$	0.25	$	(2.20)	$	(0.04)
Weighted average number of common shares, basic and diluted		7,682,086		7,607,431		7,704,639		7,704,677		7,636,191		7,603,318		7,601,925

UNAUDITED LOAN, DEPOSIT AND BORROWING DETAIL
(In thousands)

	September 30, 2025					June 30, 2025					September 30, 2024					Percentage Change
	$ Amount		% of Total			$ Amount		% of Total			$ Amount		% of Total			Last 3 Mos			Last 12 Mos
LOANS:
Construction and land development loans	$	312,318		17.2	%	$	328,351		18.3	%	$	373,486		20.8	%		-4.9	%		-16.4	%
Residential real estate loans		411,592		22.7	%		452,458		25.3	%		446,109		24.8	%		-9.0	%		-7.7	%
Commercial real estate loans		981,091		54.2	%		911,390		50.9	%		871,280		48.4	%		7.6	%		12.6	%
Commercial and industrial loans		105,217		5.8	%		97,699		5.5	%		106,249		5.9	%		7.7	%		-1.0	%
Consumer loans		1,204		0.1	%		1,075		0.1	%		1,977		0.1	%		12.0	%		-39.1	%
Total Gross Loans	$	1,811,422		100.0	%	$	1,790,973		100.0	%	$	1,799,101		100.0	%		1.1	%		0.7	%
Less: Allowance for credit losses		(18,831)					(19,057)					(18,327)
Net deferred loan fees		(4,348)					(4,484)					(5,216)
Net Loans	$	1,788,243				$	1,767,432				$	1,775,558
DEPOSITS:
Non-interest bearing deposits	$	324,717		17.9	%	$	330,045		18.4	%	$	347,575		18.4	%		-1.6	%		-6.6	%
Interest-bearing deposits:
Demand deposits		123,231		6.8	%		124,090		6.9	%		197,527		10.4	%		-0.7	%		-37.6	%
Savings and NOW deposits		125,214		6.9	%		116,069		6.5	%		61,893		3.3	%		7.9	%		102.3	%
Money market deposits		458,946		25.3	%		463,904		25.8	%		451,936		23.9	%		-1.1	%		1.6	%
Time deposit $250,000 or more		501,332		27.7	%		490,692		27.2	%		532,201		28.0	%		2.2	%		-5.8	%
Time deposit less than $250,000		277,395		15.3	%		273,747		15.2	%		302,537		16.0	%		1.3	%		-8.3	%
Total Deposits	$	1,810,835		100.0	%	$	1,798,547		100.0	%	$	1,893,669		100.0	%		0.7	%		-4.4	%
BORROWINGS:
Subordinated debt, net		69,837		100.0	%		71,238		100.0	%		72,940		100.0	%		-2.0	%		-4.3	%
Total Borrowings	$	69,837		100.0	%	$	71,238		100.0	%	$	72,940		100.0	%		-2.0	%		-4.3	%
Total Deposits and Borrowings	$	1,880,672				$	1,869,785				$	1,966,609					0.6	%		-4.4	%

Core customer funding sources ⁽¹⁾	$	1,289,952		68.6	%	$	1,329,804		71.1	%	$	1,471,350		74.8	%		-3.0	%		-12.3	%
Brokered and listing service sources ⁽²⁾		520,883		27.7	%		468,743		25.1	%		422,319		21.5	%		11.1	%		23.3	%
Subordinated debt, net ⁽³⁾		69,837		3.7	%		71,238		3.8	%		72,940		3.7	%		-2.0	%		-4.3	%
Total Funding Sources	$	1,880,672		100.0	%	$	1,869,785		100.0	%	$	1,966,609		100.0	%		0.6	%		-4.4	%


(1)	Includes ICS, CDARS, and reciprocal deposits maintained by customers, which represent sweep accounts tied to customer operating accounts.
(2)	Consists of certificates of deposit (CD) through multiple listing services and multiple brokered deposit services, as well as ICS and CDARS one-way certificates of deposit and regional money market accounts. Excludes $114.9 million in core deposits placed in reciprocal networks for FDIC insurance coverage that will be classified as brokered deposits on the call report in pursuant to rule 12 CFR 337.6(e) as of September 30, 2025.
(3)	Subordinated debt obligation qualifies as Tier 2 capital at the holding company and Tier 1 capital at the Bank.

UNAUDITED AVERAGE BALANCE SHEETS, INTEREST AND RATES
(In thousands)

	For the three months ended September 30, 2025							For the three months ended September 30, 2024
	Average Balance		Interest Income/ Expense ⁽³⁾⁽⁴⁾		Average Yields/ Rate (annualized) ⁽³⁾⁽⁴⁾			Average Balance		Interest Income/ Expense ⁽³⁾⁽⁴⁾		Average Yields/ Rate (annualized) ⁽³⁾⁽⁴⁾
ASSETS:
Interest-earning assets:
Loans ⁽¹⁾⁽²⁾	$	1,805,016	$	30,688		6.75	%	$	1,807,882	$	31,615		6.94	%
Securities:
Taxable		52,680		435		3.28	%		54,523		397		2.89	%
Tax-exempt		35,260		342		3.85	%		35,881		372		4.11	%
Interest-bearing deposits at other financial institutions		1,037		11		4.21	%		692		10		5.73	%
Federal funds sold		99,896		1,060		4.21	%		105,949		1,275		4.77	%
Total interest-earning assets	$	1,993,889	$	32,536		6.47	%	$	2,004,927	$	33,669		6.66	%
Other assets		125,605							121,201
Total assets	$	2,119,494						$	2,126,128
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Interest-bearing demand deposits	$	120,112	$	1,071		3.54	%	$	173,996	$	2,117		4.83	%
Savings and NOW deposits		119,467		467		1.55	%		61,259		206		1.33	%
Money market deposits		463,948		4,623		3.95	%		445,730		5,277		4.70	%
Time deposits		772,176		8,369		4.30	%		759,247		9,543		4.99	%
Total interest-bearing deposits	$	1,475,703	$	14,530		3.91	%	$	1,440,232	$	17,143		4.72	%
Federal funds purchased		2,338		28		4.75	%		19,001		277		5.78	%
Subordinated debt, net		70,793		804		4.51	%		72,901		828		4.51	%
Total interest-bearing liabilities	$	1,548,834	$	15,362		3.94	%	$	1,532,134	$	18,248		4.73	%
Demand deposits and other liabilities		355,621							368,349
Total liabilities	$	1,904,455						$	1,900,483
Stockholders' Equity		215,039							225,645
Total Liabilities and Stockholders' Equity	$	2,119,494						$	2,126,128
Interest Rate Spread						2.53	%						1.94	%
Net Interest Income			$	17,174						$	15,421
Net Interest Margin						3.42	%						3.05	%


(1)	Includes loans classified as non-accrual
(2)	Total loan interest income includes amortization of deferred loan fees, net of deferred loan costs
(3)	Income and yields for all periods presented are reported on a tax-equivalent basis using the federal statutory rate of 21%
(4)	Refer to "Unaudited Reconciliation of Certain Non-GAAP Financial Measures" for reconciliation of non-GAAP measures

UNAUDITED AVERAGE BALANCE SHEETS, INTEREST AND RATES
(In thousands)

	For the nine months ended September 30, 2025							For the nine months ended September 30, 2024
	Average Balance		Interest Income/ Expense ⁽³⁾⁽⁴⁾		Average Yields/ Rate (annualized) ⁽³⁾⁽⁴⁾			Average Balance		Interest Income/ Expense ⁽³⁾⁽⁴⁾		Average Yields/ Rate (annualized) ⁽³⁾⁽⁴⁾
ASSETS:
Interest-earning assets:
Loans ⁽¹⁾⁽²⁾	$	1,820,771	$	94,242	6.92		%	$	1,773,050	$	93,852	7.08		%
Securities:
Taxable		52,926		1,285	3.25		%		55,478		1,262	3.04		%
Tax-exempt		35,298		1,013	3.84		%		36,670		1,053	3.84		%
Interest-bearing deposits at other financial institutions		1,274		44	4.62		%		662		27	5.45		%
Federal funds sold		105,674		3,342	4.23		%		93,931		3,523	5.01		%
Total interest-earning assets	$	2,015,943	$	99,926	6.63		%	$	1,959,791	$	99,717	6.80		%
Other assets		119,819							125,068
Total assets	$	2,135,762						$	2,084,859
Liabilities and Stockholders' Equity:
Interest-bearing liabilities:
Interest-bearing demand deposits	$	113,969	$	3,123	3.66		%	$	164,192	$	6,049	4.93		%
Savings and NOW deposits		102,349		1,079	1.41		%		51,119		553	1.45		%
Money market deposit		493,366		14,606	3.96		%		447,668		15,911	4.75		%
Time deposits		785,685		25,994	4.42		%		728,459		27,361	5.02		%
Total interest-bearing deposits	$	1,495,369	$	44,802	4.01		%	$	1,391,438	$	49,874	4.79		%
Federal funds purchased		2,638		93	4.71		%		13,279		575	5.79		%
FHLB advances		—		—	—				1,095		46	5.62		%
Subordinated debt, net		71,670		2,415	4.51		%		72,802		2,468	4.53		%
Total interest-bearing liabilities	$	1,569,677	$	47,310	4.03		%	$	1,478,614	$	52,963	4.79		%
Demand deposits and other liabilities		354,635							382,591
Total liabilities	$	1,924,312						$	1,861,205
Stockholders' Equity		211,450							223,654
Total Liabilities and Stockholders' Equity	$	2,135,762						$	2,084,859
Interest Rate Spread						2.60	%						2.01	%
Net Interest Income			$	52,616						$	46,754
Net Interest Margin					3.49		%					3.19		%


(1)	Includes loans classified as non-accrual
(2)	Total loan interest income includes amortization of deferred loan fees, net of deferred loan costs
(3)	Income and yields for all periods presented are reported on a tax-equivalent basis using the federal statutory rate of 21%
(4)	Refer to "Unaudited Reconciliation of Certain Non-GAAP Financial Measures" for reconciliation of non-GAAP measures

UNAUDITED SUMMARY FINANCIAL DATA
(Dollars in thousands except share and per share data)

	At or For the Three Months Ended						At or For the Nine Months Ended
	September 30,						September 30,
	2025			2024			2025			2024
*Per share Data and Shares Outstanding*
Earnings (loss) per common share (basic and diluted)	$	0.52		$	(0.04)		$	1.29		$	0.60
Book value per common share	$	24.81		$	26.15		$	24.81		$	26.15
Tangible book value per common share⁽²⁾	$	24.81		$	23.66		$	24.81		$	23.66
Weighted average common shares (basic and diluted)		7,704,639			7,601,925			7,682,086			7,607,431
Common shares outstanding at end of period		7,703,579			7,602,783			7,703,579			7,602,783
*Performance Ratios*
Return on average assets (annualized)		0.85	%		0.05	%		0.72	%		0.40	%
Return on average equity (annualized)		8.33	%		0.47	%		7.31	%		3.70	%
Return on average common equity (annualized)		8.40	%		(0.55)	%		7.22	%		3.11	%
Yield on earning assets (FTE) ⁽²⁾ (annualized)		6.47	%		6.66	%		6.63	%		6.80	%
Cost of interest bearing liabilities (annualized)		3.94	%		4.73	%		4.03	%		4.79	%
Net interest spread (FTE)⁽²⁾ (annualized)		2.53	%		1.94	%		2.60	%		2.01	%
Net interest margin (FTE)⁽²⁾ (annualized)		3.42	%		3.05	%		3.49	%		3.19	%
Non-interest income as a percentage of average assets (annualized)		0.21	%		0.17	%		0.20	%		0.16	%
Non-interest expense to average assets (annualized)		2.37	%		2.47	%		2.62	%		2.47	%
Efficiency ratio⁽³⁾		69.50	%		81.45	%		75.18	%		78.68	%
*Allowance for Credit Losses*
Allowance for credit losses (ACL)
Beginning balance, ACL - loans	$	19,057		$	17,098		$	19,450		$	16,506
Add: recoveries		75			11			831			19
Less: charge-offs		(235)			(1,907)			(857)			(2,418)
Add: provision for credit losses - loans		(66)			3,125			(593)			4,220
Ending balance, ACL - loans	$	18,831		$	18,327		$	18,831		$	18,327

Beginning balance, reserve for unfunded commitment (RUC)	$	272		$	357		$	287		$	1,009
Provision for unfunded commitments, net		210			(212)			195			(864)
Ending balance, RUC	$	482		$	145		$	482		$	145
Total allowance for credit losses	$	19,313		$	18,472		$	19,313		$	18,472

Allowance for credit losses on loans to total gross loans		1.04	%		1.02	%		1.04	%		1.02	%
Allowance for credit losses on loans to non-performing loans		80.52	%		64.84	%		80.52	%		64.84	%
Net charge-offs to average gross loans (annualized)		0.04	%		0.42	%		NM			0.18	%
*Concentration Ratios*
Commercial real estate loans to total capital⁽⁴⁾		356.02	%		360.26	%		356.02	%		360.26	%
Construction loans to total capital⁽⁵⁾		102.61	%		118.15	%		102.61	%		118.15	%
*Past due and Non-performing Assets*
Loans 30-89 days past due and accruing to total gross loans		1.40	%		0.61	%		1.40	%		0.61	%
Loans 90 days past due and accruing to total gross loans		0.00	%		0.00	%		0.00	%		0.00	%
Non-accrual loans to total gross loans		1.29	%		1.57	%		1.29	%		1.57	%
Other real estate owned	$	—		$	—		$	—		$	—
Non-performing loans	$	23,386		$	28,264		$	23,386		$	28,264
Non-performing assets to total assets		1.10	%		1.27	%		1.10	%		1.27	%
*Regulatory Capital Ratios (Bank only)* *⁽¹⁾*
Total risk-based capital ratio		16.18	%		16.96	%		16.18	%		16.96	%
Tier 1 risk-based capital ratio		15.16	%		15.97	%		15.16	%		15.97	%
Leverage ratio		13.42	%		13.98	%		13.42	%		13.98	%
Common equity tier 1 ratio		15.16	%		15.97	%		15.16	%		15.97	%
*Other information*
Common shares closing stock price	$	20.83		$	18.45		$	20.83		$	18.45
Tangible equity / tangible assets⁽²⁾		10.28	%		9.39	%		10.28	%		9.39	%
Average tangible equity / average tangible assets ⁽²⁾		10.15	%		9.86	%		9.90	%		10.02	%
Number of full time equivalent employees		174			201			174			201
Number of full service branch offices		6			6			6			6


(1)	Regulatory capital ratios as of September 30, 2025 are preliminary
(2)	Refer to "Unaudited Reconciliation of Certain Non-GAAP Financial Measures" for reconciliation of non-GAAP measures
(3)	Efficiency ratio is calculated as non-interest expense as a percentage of net interest income and non-interest income
(4)	Commercial real estate includes only non-owner occupied, multifamily, and construction loans as a percentage of Bank capital
(5)	Construction loans as a percentage of Bank capital

Unaudited Reconciliation of Certain Non-GAAP Financial Measures
(Dollars In thousands)

	For the three months ended September 30,						For the nine months ended September 30,
	2025			2024			2025			2024
Core net interest margin (FTE)
Net interest income (GAAP)	$	17,102		$	15,343		$	52,403		$	46,533
FTE adjustment on tax-exempt securities		72			78			213			221
Net interest income (FTE) (non-GAAP)		17,174			15,421			52,616			46,754
Nonrecurring interest income adjustment from nonaccrual loans.		595			984			827			1,848
Core net interest income (FTE) (non-GAAP)		17,769			16,405			53,443			48,602

Average interest earning assets		1,993,889			2,004,927			2,015,943			1,959,791
Net interest margin (GAAP)		3.40	%		3.06	%		3.48	%		3.17	%
Net interest margin (FTE) (non-GAAP)		3.42	%		3.05	%		3.49	%		3.19	%
Core net interest margin (FTE) (non-GAAP)		3.54	%		3.25	%		3.54	%		3.32	%

	For the three months ended September 30,						For the nine months ended September 30,
	2025			2024			2025			2024
Yield on earning assets (FTE)
Total interest income (GAAP)	$	32,464		$	33,591		$	99,713		$	99,496
FTE adjustment on tax-exempt securities		72			78			213			221
Total interest income (FTE) (non-GAAP)		32,536			33,669			99,926			99,717

Average interest earning assets		1,993,889			2,004,927			2,015,943			1,959,791
Yield on earning assets (GAAP)		6.46	%		6.65	%		6.61	%		6.79	%
Yield on earning assets (FTE) (non-GAAP)		6.47	%		6.66	%		6.63	%		6.80	%

	For the three months ended September 30,						For the nine months ended September 30,
	2025			2024			2025			2024
Net interest spread (FTE)
Yield on earning assets (GAAP)		6.46	%		6.65	%		6.61	%	6.79		%
Yield on earning assets (FTE) (non-GAAP)		6.47	%		6.66	%	6.63		%	6.80		%

Yield on interest-bearing liabilities (GAAP)		3.94	%		4.73	%	4.03		%	4.79		%

Net interest spread (GAAP)		2.52	%		1.92	%	2.58		%		2.00	%
Net interest spread (FTE) (non-GAAP)		2.53	%		1.94	%	2.60		%		2.01	%

	As of September 30,						As of September 30,
	2025			2024			2025			2024
Tangible common stockholders' equity
Total stockholders equity (GAAP)	$	218,363		$	226,051		$	218,363		$	226,051
Less: intangible assets		—			(18,881)			—			(18,881)
Tangible stockholders' equity (non-GAAP)		218,363			207,170		$	218,363			207,170
Less: preferred stock		(27,263)			(27,263)			(27,263)			(27,263)
Tangible common stockholders' equity (non-GAAP)		191,100			179,907			191,100			179,907

Common shares outstanding		7,703,579			7,602,783			7,703,579			7,602,783
Tangible book value per common share (non-GAAP)	$	24.81		$	23.66		$	24.81		$	23.66

	As of September 30,						As of September 30,
	2025			2024			2025			2024
Stockholders equity, adjusted
Total stockholders equity (GAAP)	$	218,363		$	226,051		$	218,363		$	226,051
Less: intangible assets		—			(18,881)			—			(18,881)
Total tangible stockholders equity (non-GAAP)		218,363			207,170			218,363			207,170

	As of September 30,						As of September 30,
	2025			2024			2025			2024
Total tangible assets
Total assets (GAAP)	$	2,124,789		$	2,224,599		$	2,124,789		$	2,224,599
Less: intangible assets		—			(18,881)			—			(18,881)
Total tangible assets (non-GAAP)		2,124,789			2,205,718			2,124,789			2,205,718

	For the three months ended September 30,						For the nine months ended September 30,
	2025			2024			2025			2024
Average tangible stockholders' equity
Total average stockholders' equity (GAAP)	$	215,039		$	225,645		$	211,450		$	223,654
Less: average intangible assets		—			(17,738)			—			(16,405)
Total average tangible stockholders' equity (non-GAAP)		215,039			207,907			211,450			207,249

	For the three months ended September 30,						For the nine months ended September 30,
	2025			2024			2025			2024
Average tangible assets
Total average assets (GAAP)	$	2,119,494		$	2,126,128		$	2,135,762		$	2,084,859
Less: average intangible assets		—			(17,738)			—			(16,405)
Total average tangible assets (non-GAAP)		2,119,494			2,108,390			2,135,762			2,068,454

Contact: Billy Freesmeier
Chief of Staff
(703) 481-4579

View original content to download multimedia:https://www.prnewswire.com/news-releases/mainstreet-bancshares-inc-reports-another-profitable-quarter-302594875.html

Earlier from Mainstreet Bancshares

All Mainstreet Bancshares news releases