MainStreet Bancshares, Inc 8-K, filed May 26, 2022
MainStreet Bancshares, Inc. (MNSB)
About this 8-K
MainStreet Bancshares, Inc filed this 8-K on May 26, 2022.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of Registrant as Specified in Its Charter)
|
|
|
|
|
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
|
|
|
|
|
|
|
|
(Address of Principal Executive Offices) |
|
(Zip Code) |
(
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
|
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
|
|
|
|
|
The |
Depositary Shares (each representing a 1/40th |
|
|
|
The |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 7.01 Regulation FD Disclosure
On May 26, 2022, MainStreet Bancshares, Inc., the holding company for MainStreet Bank, announced that the Company has promoted Tom Floyd to the role of Chief Lending Officer. A copy of the related press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
|
Exhibit Number |
|
Description |
|
99.1 |
|
|
|
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
MAINSTREET BANCSHARES, INC |
|
|
|
|
|
|
|
Date: May 26, 2022 |
|
By: |
/s/ Thomas J. Chmelik |
|
|
|
|
Name: Thomas J. Chmelik |
|
|
|
|
Title: Chief Financial Officer |
2
|
|
|
Exhibit 99.1 |
|
PRESS RELEASE |
|
Contact: Debra Cope |
|
May 26, 2022 |
|
(202) 468-3814 |
MainStreet Bank Promotes Tom Floyd to Chief Lending Officer
Five-Year Veteran of Bank Oversees Growing $1.4 Billion Loan Portfolio
Fairfax, Virginia – May 26, 2022 - MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, announced it has promoted Tom Floyd to Chief Lending Officer, entrusting him with strategic leadership over a growing loan portfolio that currently exceeds $1.4 billion.
Floyd, who joined the $1.8 billion-asset bank in 2017, was previously Senior Vice President and Regional Lending Manager. He has consistently been one of MainStreet Bank’s top performing lenders, with a special focus on real estate and construction lending. Floyd has been a commercial lender on the Washington, D.C., banking scene since 2007, working for community as well as regional banks.
“Tom has been a lending powerhouse and a great team player since his arrival at MainStreet Bank,” said Abdul Hersiburane, President of MainStreet Bank. “We have always managed our loan portfolio with meticulous care, and Tom really excels at structuring credits to align with our risk tolerance while keeping customers’ changing needs in the forefront.”
“The vibrant metropolitan Washington business community continues to generate strong loan demand,” said Floyd. “I’m thrilled to work with MainStreet Bank’s lenders and customers to make sure we are bringing forward smart, creative solutions to meet diverse credit needs across our region.”
Floyd earned a Bachelor of Science in finance from Virginia Tech. He is also a graduate of the Virginia Bankers Association School of Bank Management. As Chief Lending Officer, he is filling a vacancy created by the departure of an executive who left to pursue another opportunity.
ABOUT MAINSTREET BANK: MainStreet Bank will launch its proprietary Fintech Banking as a Service (BaaS) and Software as a Service (SaaS) solution called Avenu™ later this year to provide a comprehensive solution for the Fintech community. Go to Avenu.bank for more information and to join the queue.
MainStreet operates six branches in Herndon, Fairfax, McLean, Leesburg, Clarendon, and Washington D.C. MainStreet Bank has 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.
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 the novel coronavirus (COVID-19) outbreak, 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.