main20220821

Exhibit 99.1

PRESS RELEASE		Contact: Debra Cope
October 17, 2022, 8:00 AM ET		Director of Corporate Communications
		(703) 481-4599

MainStreet Bancshares, Inc. Reports Strong Earnings

Widening net interest margin fueled record financial performance as measured by multiple 3^rd quarter 2022 key metrics:

●

1.70% Return on average assets

●

16.13% Return on average equity

●

4.14% Net interest margin

●

$0.97 Per-share earnings (basic and diluted)

Fairfax, Virginia, October 17, 2022 — MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company for MainStreet Bank, reported continued strong financial performance through the third quarter as earnings on its floating-rate loans rose in-sync with FOMC interest rate increases.

Rising rates on a loan portfolio largely designed to flex with market rates sent loan interest income to $20.3 million in the third quarter. This is 13% higher than the second quarter of 2022 and 34% higher than the third quarter of 2021.

The Company recorded net income of $7.2 million for the quarter ending September 30, 2022. Net income was up 34% from the second quarter and 62% from the year-earlier third quarter. The net interest margin widened to 4.14%, at September 30, 2022, up 84 basis points from a year earlier. The Company’s efficiency ratio was stellar at 50.88%.

“Year-to-date earnings per share are $2.31, and we are forecasting $3.25 for the year, assuming loan growth remains consistent with previous quarters,” said Jeff W. Dick, Chairman and CEO of MainStreet Bancshares, Inc. and MainStreet Bank. “Although the Company benefits from a rising interest rate environment, we remain hopeful that the FOMC will react quickly as and when they identify and achieve the neutral rate.”

The loan portfolio has grown 8% since the beginning of 2022, and total assets are approaching $1.9 billion. Asset quality remains pristine, with zero non-performing assets as of quarter-ended September 30. Noninterest-bearing deposits represent 36% of the $1.6 billion in total deposits, and 71% of total deposits are core deposits.

“We continue to experience solid organic growth in deposits to support our lending,” said Abdul Hersiburane, President of MainStreet Bank. “The Washington, D.C., branch has proven to be a particularly strong funnel for new business - especially construction lending and government contract lending opportunities,” Hersiburane added.

The level of Accumulated Other Comprehensive Income (AOCI) for the Company remains low at -5.13% of total capital.

The Company will discuss quarterly and year-to-date earnings and preview business developments with Avenu™ during their virtual quarterly earnings call at 2 p.m. Eastern time today.

Avenu™ - Banking Delivered

Avenu™ offers the only embedded banking solution that connects our partners and their app’s directly and seamlessly to a banking core -- our banking core. We are not a sponsor bank without our own technology, and we are not a middleware software company (aggregator) without our own bank. We are Avenu, a leading financial technology company backed by an established community business bank in the heart of Washington, DC.

Avenu™ - Serving a Community of Innovation

Our clients are fintechs, application developers, money movers, and entrepreneurs. They all have one thing in common - they are innovating how money moves to solve real-world issues and help communities thrive. We are focused on serving our community and long-term business relationships.

“We are currently onboarding our initial beta customers with an anticipated go-live date around year-end 2022,” said Todd Youngren, President of Avenu™. “Clients are telling us they see unique value in our risk- and compliance-centric approach, which is a critical consideration whenever handling other people’s money,” he added.

To learn more about Avenu™, visit Avenu.bank and join the queue today.

ABOUT MAINSTREET BANK: MainStreet operates six branches in Herndon, Fairfax, McLean, Leesburg, Clarendon, and Washington DC. 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.

MainStreet Bank was the first community bank in the Washington, DC 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 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

UNAUDITED CONSOLIDATED BALANCE SHEET INFORMATION

(In thousands)

	September 30, 2022			June 30, 2022			March 31, 2022			December 31, 2021		September 30, 2021
ASSETS
Cash and cash equivalents
Cash and due from banks	$	50,636		$	55,636		$	63,986		$	61,827	$	67,992
Federal funds sold		54,098			47,013			37,756			31,372		65,725
Total cash and cash equivalents		104,734			102,649			101,742			93,199		133,717
Investment securities available for sale, at fair value		162,319			143,240			123,802			99,913		171,603
Investment securities held to maturity, at carrying value		17,670			17,698			18,769			20,349		21,148
Restricted equity securities, at cost		16,436			16,485			17,209			15,609		9,972
Loans, net of allowance for loan losses of $12,994, $12,982, $12,500,$11,697, and $11,428, respectively		1,448,071			1,416,875			1,413,238			1,341,760		1,246,331
Premises and equipment, net		14,523			14,756			14,833			14,863		14,795
Other real estate owned, net		—			—			—			775		1,158
Accrued interest and other receivables		8,273			7,313			6,980			7,701		4,718
Computer software, net of amortization		7,258			4,956			3,906			2,493		1,165
Bank owned life insurance		36,996			36,742			36,492			36,241		35,987
Other assets		43,835			32,665			24,777			14,499		16,605
Total Assets	$	1,860,115		$	1,793,379		$	1,761,748		$	1,647,402	$	1,657,199
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Non-interest bearing deposits	$	566,016		$	535,591		$	514,160		$	530,678	$	475,157
Interest bearing DDA deposits		93,695			99,223			76,286			69,232		63,622
Savings and NOW deposits		54,240			58,156			81,817			85,175		79,556
Money market deposits		254,190			231,207			301,842			267,730		310,776
Time deposits		585,783			575,950			460,839			459,148		485,255
Total deposits		1,553,924			1,500,127			1,434,944			1,411,963		1,414,366
Federal Home Loan Bank advances and other borrowings		—			—			40,000			—		—
Subordinated debt		72,146			72,047			71,955			29,294		40,635
Other liabilities		44,045			32,801			26,053			17,357		18,169
Total Liabilities		1,670,115			1,604,975			1,572,952			1,458,614		1,473,170
Stockholders’ Equity:
Preferred stock		27,263			27,263			27,263			27,263		27,263
Common stock		28,728			29,178			29,642			29,466		29,462
Capital surplus		63,231			64,822			66,798			67,668		67,152
Retained earnings		80,534			73,702			68,691			64,194		59,920
Accumulated other comprehensive income (loss)		(9,756	)		(6,561	)		(3,598	)		197		232
Total Stockholders’ Equity		190,000			188,404			188,796			188,788		184,029
Total Liabilities and Stockholders’ Equity	$	1,860,115		$	1,793,379		$	1,761,748		$	1,647,402	$	1,657,199

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME INFORMATION

(In thousands, except share and per share data)

	Year-to-Date						Three Months Ended
	September 30, 2022			September 30, 2021			September 30, 2022			June 30, 2022		March 31, 2022		December 31, 2021		September 30, 2021
INTEREST INCOME:
Interest and fees on loans	$	54,900		$	46,211		$	20,261		$	17,954	$	16,685	$	15,532	$	15,162
Interest on investment securities
Taxable securities		1,136			910			378			401		357		327		318
Tax-exempt securities		796			802			261			263		272		283		267
Interest on federal funds sold		1,241			73			1,013			195		34		61		38
Total interest income		58,073			47,996			21,913			18,813		17,348		16,203		15,785
INTEREST EXPENSE:
Interest on interest bearing DDA deposits		345			170			175			105		65		59		60
Interest on savings and NOW deposits		122			127			43			42		37		38		38
Interest on money market deposits		766			645			496			151		119		127		148
Interest on time deposits		5,236			6,039			2,275			1,530		1,431		1,574		1,795
Interest on Federal Home Loan Bank advances and other borrowings		83			—			—			52		31		—		—
Interest on subordinated debt		2,108			1,346			828			812		468		539		541
Total interest expense		8,660			8,327			3,817			2,692		2,151		2,337		2,582
Net interest income		49,413			39,669			18,096			16,121		15,197		13,866		13,203
Provision for (recovery of) loan losses		1,280			(1,470	)		—			480		800		295		290
Net interest income after provision for (recovery of) loan losses		48,133			41,139			18,096			15,641		14,397		13,571		12,913
NON-INTEREST INCOME:
Deposit account service charges		1,810			1,802			601			597		611		624		642
Bank owned life insurance income		754			647			254			250		251		253		252
Loan swap fee income		619			—			518			101		—		83		—
Net gain on held-to-maturity securities		4			3			—			4		—		3		—
Net gain (loss) on sale of loans		(168	)		434			(211	)		—		43		413		(40	)
Other non-interest income		754			1,601			186			312		257		247		632
Total other income		3,773			4,487			1,348			1,264		1,162		1,623		1,486
NON-INTEREST EXPENSES:
Salaries and employee benefits		17,025			14,276			5,874			5,604		5,548		5,029		4,847
Furniture and equipment expenses		2,076			1,743			760			659		657		726		716
Advertising and marketing		1,684			1,115			704			574		406		450		438
Occupancy expenses		1,093			1,092			400			352		341		449		399
Outside services		1,545			908			611			567		368		485		292
Administrative expenses		658			493			253			195		210		192		202
Other operating expenses		4,268			4,517			1,291			1,543		1,433		1,389		1,567
Total non-interest expenses		28,349			24,144			9,893			9,494		8,963		8,720		8,461
Income before income tax expense		23,557			21,482			9,551			7,411		6,596		6,474		5,938
Income tax expense		4,462			4,124			1,808			1,481		1,173		1,660		1,155
Net income		19,095			17,358			7,743			5,930		5,423		4,814		4,783
Preferred stock dividends		1,617			1,617			539			539		539		539		539
Net income available to common shareholders	$	17,478		$	15,741		$	7,204		$	5,391	$	4,884	$	4,275	$	4,244
Net income per common share, basic and diluted	$	2.31		$	2.09		$	0.97		$	0.71	$	0.64	$	0.56	$	0.56
Weighted average number of common shares, basic and diluted		7,561,567			7,547,254			7,463,719			7,575,484		7,647,519		7,595,062		7,571,214

UNAUDITED LOAN, DEPOSIT AND BORROWING DETAIL

(In thousands)

	September 30, 2022						June 30, 2022						September 30, 2021						Percentage Change
	$ Amount			% of Total			$ Amount			% of Total			$ Amount			% of Total			Last 3 Mos			Last 12 Mos
LOANS:
Construction and land development loans	$	366,689			25.0	%	$	358,062			25.0	%	$	327,004			25.9	%		2.4	%		12.1	%
Residential real estate loans		373,056			25.4	%		366,758			25.6	%		223,029			17.6	%		1.7	%		67.3	%
Commercial real estate loans		638,110			43.5	%		599,683			41.8	%		494,766			39.1	%		6.4	%		29.0	%
Commercial industrial loans - Other		74,482			5.1	%		92,672			6.5	%		191,281			15.1	%		-19.6	%		-61.1	%
Consumer loans		13,628			1.0	%		17,223			1.1	%		27,740			2.3	%		-20.9	%		-50.9	%
Total Gross Loans	$	1,465,965			100.0	%	$	1,434,398			100.0	%	$	1,263,820			100.0	%		2.2	%		16.0	%
Less: Allowance for loan losses		(12,994	)					(12,982	)					(11,428	)
Net deferred loan fees		(4,900	)					(4,541	)					(6,061	)
Net Loans	$	1,448,071					$	1,416,875					$	1,246,331
DEPOSITS:
Non-interest bearing demand deposits	$	566,016			36.4	%	$	535,591			35.7	%	$	475,157			33.6	%		5.7	%		19.1	%
Interest-bearing demand deposits:
Demand deposits		93,695			6.0	%		99,223			6.6	%		63,622			4.5	%		-5.6	%		47.3	%
Savings and NOW deposits		54,240			3.5	%		58,156			3.9	%		79,556			5.6	%		-6.7	%		-31.8	%
Money market accounts		254,190			16.4	%		231,207			15.4	%		310,776			22.0	%		9.9	%		-18.2	%
Certificates of deposit $250,000 or more		371,739			23.9	%		383,340			25.6	%		295,454			20.9	%		-3.0	%		25.8	%
Certificates of deposit less than $250,000		214,044			13.8	%		192,610			12.8	%		189,801			13.4	%		11.1	%		12.8	%
Total Deposits	$	1,553,924			100.0	%	$	1,500,127			100.0	%	$	1,414,366			100.0	%		3.6	%		9.9	%
BORROWINGS:
Federal Home Loan Bank advances		—			0.0	%		—			0.0	%		—			—			100.0	%		0.0	%
Subordinated debt		72,146			100.0	%		72,047			100.0	%		40,635			100.0	%		0.1	%		77.5	%
Total Borrowings	$	72,146			100.0	%	$	72,047			100.0	%	$	40,635			100.0	%		0.1	%		77.5	%
Total Deposits and Borrowings	$	1,626,070					$	1,572,174					$	1,455,001						3.4	%		11.8	%

Core customer funding sources ⁽¹⁾	$	1,156,862			71.1	%	$	1,094,493			69.6	%	$	1,097,948			75.5	%		5.7	%		5.4	%
Brokered and listing service sources ⁽²⁾		397,062			24.5	%		405,634			25.8	%		316,418			21.7	%		-2.1	%		25.5	%
Federal Home Loan Bank advances		—			0.0	%		—			0.0	%		—			—			100.0	%		0.0	%
Subordinated debt ⁽³⁾		72,146			4.4	%		72,047			4.6	%		40,635			2.8	%		0.1	%		77.5	%
Total Funding Sources	$	1,626,070			100.0	%	$	1,572,174			100.0	%	$	1,455,001			100.0	%		3.4	%		11.8	%

(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
(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, 2022							For the three months ended September 30, 2021
	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⁾	$	1,446,679	$	20,261		5.56	%	$	1,258,485	$	15,162		4.78	%
Securities:
Taxable		73,914		378		2.03	%		66,309		318		1.90	%
Tax-exempt		38,074		330		3.44	%		36,584		338		3.67	%
Federal funds and interest-bearing deposits		182,331		1,013		2.20	%		234,363		38		0.06	%
Total interest earning assets	$	1,740,998	$	21,982		5.01	%	$	1,595,741	$	15,856		3.94	%
Other assets		61,479							88,521
Total assets	$	1,802,477						$	1,684,262
Liabilities and Stockholders’ Equity:
Interest-bearing liabilities:
Interest-bearing demand deposits	$	93,569	$	175		0.74	%	$	64,966	$	60		0.37	%
Savings and NOW deposits		55,100		43		0.31	%		75,968		38		0.20	%
Money market deposit accounts		257,091		496		0.77	%		302,848		148		0.19	%
Time deposits		575,832		2,275		1.57	%		507,254		1,795		1.40	%
Total interest-bearing deposits	$	981,592	$	2,989		1.21	%	$	951,036	$	2,041		0.85	%
Federal funds purchased		2		—		—			2		—		—
Subordinated debt		72,107		828		4.56	%		40,609		541		5.29	%
Total interest-bearing liabilities	$	1,053,701	$	3,817		1.44	%	$	991,647	$	2,582		1.03	%
Demand deposits and other liabilities		558,337							510,008
Total liabilities	$	1,612,038						$	1,501,655
Stockholders’ Equity		190,439							182,607
Total Liabilities and Stockholders’ Equity	$	1,802,477						$	1,684,262
Interest Rate Spread						3.57	%						2.91	%
Net Interest Income			$	18,165						$	13,274
Net Interest Margin						4.14	%						3.30	%

(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 Appendix for reconciliation of non-GAAP measures

UNAUDITED AVERAGE BALANCE SHEETS, INTEREST AND RATES

(In thousands)

	For the nine months ended September 30, 2022							For the nine months ended September 30, 2021
	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⁾	$	1,420,013	$	54,900		5.17	%	$	1,293,359	$	46,211		4.78	%
Securities:
Taxable		73,496		1,136		2.07	%		57,838		910		2.10	%
Tax-exempt		38,703		1,008		3.48	%		36,737		1,015		3.69	%
Federal funds and interest-bearing deposits		121,832		1,241		1.36	%		224,521		73		0.04	%
Total interest earning assets	$	1,654,044	$	58,285		4.71	%	$	1,612,455	$	48,209		4.00	%
Other assets		71,361							76,758
Total assets	$	1,725,405						$	1,689,213
Liabilities and Stockholders’ Equity:
Interest-bearing liabilities:
Interest-bearing demand deposits	$	86,836	$	345		0.53	%	$	67,345	$	170		0.34	%
Savings and NOW deposits		66,714		122		0.24	%		72,591		127		0.23	%
Money market deposit accounts		252,992		766		0.40	%		345,662		645		0.25	%
Time deposits		511,242		5,236		1.37	%		508,722		6,039		1.59	%
Total interest-bearing deposits	$	917,784	$	6,469		0.94	%	$	994,320	$	6,981		0.94	%
Federal funds and repos purchased		2		—		—			1		—		—
Subordinated debt		62,807		2,108		4.49	%		31,815		1,346		5.66	%
FHLB borrowings		24,011		83		0.46	%		—		—		—
Total interest-bearing liabilities	$	1,004,604	$	8,660		1.15	%	$	1,026,136	$	8,327		1.08	%
Demand deposits and other liabilities		531,115							486,510
Total liabilities	$	1,535,719						$	1,512,646
Stockholders’ Equity		189,686							176,567
Total Liabilities and Stockholders’ Equity	$	1,725,405						$	1,689,213
Interest Rate Spread						3.56	%						2.92	%
Net Interest Income			$	49,625						$	39,882
Net Interest Margin						4.01	%						3.31	%

(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 Appendix for reconciliation of non-GAAP measures

UNAUDITED SUMMARY FINANCIAL DATA

(Dollars in thousands except per share data)

	At or For the Three Months Ended						At or For the Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
*Per share Data and Shares Outstanding*
Earnings per common share (basic and diluted)	$	0.97		$	0.56		$	2.31		$	2.09
Book value per common share	$	21.92		$	20.64		$	21.92		$	20.64
Tangible book value per common share⁽²⁾	$	20.94		$	20.64		$	20.94		$	20.64
Weighted average common shares (basic and diluted)		7,463,719			7,571,214			7,561,567			7,547,254
Common shares outstanding at end of period		7,425,432			7,593,749			7,425,432			7,593,749
*Performance Ratios*
Return on average assets (annualized)		1.70	%		1.13	%		1.48	%		1.37	%
Return on average equity (annualized)		16.13	%		10.39	%		13.46	%		13.14	%
Return on average common equity (annualized)		17.52	%		10.84	%		14.39	%		14.09	%
Yield on earning assets (FTE) (2) (annualized)		5.01	%		3.94	%		4.71	%		4.00	%
Cost of interest bearing liabilities (annualized)		1.44	%		1.03	%		1.15	%		1.08	%
Net interest spread (FTE)⁽²⁾		3.57	%		2.91	%		3.56	%		2.92	%
Net interest margin (FTE)(2) (annualized)		4.14	%		3.30	%		4.01	%		3.31	%
Noninterest income as a percentage of average assets (annualized)		0.30	%		0.35	%		0.29	%		0.36	%
Noninterest expense to average assets (annualized)		2.18	%		1.99	%		2.20	%		1.91	%
Efficiency ratio⁽³⁾		50.88	%		57.60	%		53.30	%		54.68	%
*Asset Quality*
Commercial real estate loans to total capital ⁽⁴⁾		370.05	%		341.44	%		370.05	%		341.44	%
Construction loans to total capital ⁽⁵⁾		137.51	%		150.42	%		137.51	%		150.42	%
Loans 30-89 days past due to total gross loans		0.17	%		0.00	%		0.17	%		0.00	%
Loans 90 days past due to total gross loans		0.02	%		0.00	%		0.02	%		0.00	%
Non-accrual loans to total gross loans		0.00	%		0.00	%		0.00	%		0.00	%
Other real estate owned	$	—		$	1,158		$	—		$	1,158
Non-performing assets	$	—		$	1,158		$	—		$	1,158
Non-performing assets to total assets		0.00	%		0.07	%		0.00	%		0.07	%
Allowance for loan losses to total gross loans		0.89	%		0.90	%		0.89	%		0.90	%
Allowance for loan losses to non-performing assets		N/A			9.87			N/A			9.87
Net loan recoveries	$	(13	)	$	(5	)	$	(18	)	$	(21	)
Net charge-offs (recoveries) to average gross loans (annualized)		N/A			0.00	%		N/A			0.00	%
Troubled debt restructurings (total)
Performing in accordance with modified terms	$	—		$	—		$	—		$	—
Not performing in accordance with modified terms	$	—		$	—		$	—		$	—
*Regulatory Capital Ratios (Bank only) ⁽¹⁾*
Total risk-based capital ratio		16.39	%		16.55	%		16.39	%		16.55	%
Tier 1 risk-based capital ratio		15.59	%		15.68	%		15.59	%		15.68	%
Leverage ratio		14.01	%		12.23	%		14.01	%		12.23	%
Common equity tier 1 ratio		15.59	%		15.68	%		15.59	%		15.68	%
*Other information*
Closing stock price	$	22.81		$	23.99		$	22.81		$	23.99
Equity / assets		10.25	%		11.10	%		10.25	%		11.10	%
Average equity / average assets		10.57	%		10.84	%		10.99	%		10.45	%
Number of full time equivalent employees		157			128			157			128
# Full service branch offices		6			6			6			6

(1)	Regulatory capital ratios as of September 30, 2022 are preliminary
(2)	Refer to Appendix 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 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,
	2022			2021			2022			2021
Net interest margin (FTE)
Net interest income (GAAP)	$	18,096		$	13,203		$	49,413		$	39,669
FTE adjustment on tax-exempt securities		69			71			212			213
Net interest income (FTE) (non-GAAP)		18,165			13,274			49,625			39,882

Average interest earning assets		1,740,998			1,595,741			1,654,044			1,612,455
Net interest margin (GAAP)		4.12	%		3.28	%		3.99	%		3.29	%
Net interest margin (FTE) (non-GAAP)		4.14	%		3.30	%		4.01	%		3.31	%

	For the three months ended September 30,						For the nine months ended September 30,
	2022			2021			2022			2021
Stockholders equity, adjusted
Total stockholders equity (GAAP)	$	190,000		$	184,029		$	190,000		$	184,029
Less: preferred stock		(27,263	)		(27,263	)		(27,263	)		(27,263	)
Total common stockholders equity (GAAP)		162,737			156,766		$	162,737		$	156,766
Less: intangible assets		7,258			1,165			7,258			1,165
Tangible common stockholders equity (non-GAAP)		155,479			155,601			155,479			155,601

Shares outstanding		7,425,432			7,593,749			7,425,432			7,593,749
Tangible book value per common share (non-GAAP)	$	20.94		$	20.49		$	20.94		$	20.49

Virginia	001-38817	81-2871064
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

10089 Fairfax Boulevard, Fairfax, VA		22030
(Address of Principal Executive Offices)		(Zip Code)

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	MNSB	The Nasdaq Stock Market LLC
Depositary Shares (each representing a 1/40^th interest in a share of 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock	MNSBP	The Nasdaq Stock Market LLC

Exhibit Number		Description
99.1		Press Release, dated October 17, 2022, with respect to the Company’s unaudited financial results for the third quarter and year-to-date ended September 30, 2022.
99.2		Investor Presentation dated October 17, 2022.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

	MAINSTREET BANCSHARES, INC

Date: October 17, 2022	By:	/s/ Thomas J. Chmelik
		Name: Thomas J. Chmelik
		Title: Chief Financial Officer