MainStreet Bancshares Inc. Reports Strong Second Quarter Earnings

MainStreet Bancshares Inc. Reports Strong Second Quarter Earnings Net Income Climbs on Net Interest Margin Expansion and Strategic Balance Sheet Management , /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the financial holding company for MainStreet Bank, reported a surging net income of $4.6 million and net interest margin of 3.75% for the quarter ended June 30, 2025, an increase of $2.1 million and 45 basis points from the previous quarter respectively. Net interest income expanded $2.8 million to $19.3 million and earnings per common share grew to $0.53 during the same period, outperforming market expectations. The Company continues to report strong asset quality and strong capital. "The team's hard work, dedication and focus on our financial performance was proven with this quarter's results," said Jeff W. Dick, Chairman and CEO of MainStreet Bancshares, Inc. and MainStreet Bank. "We are resolute in building our core banking franchise." "Our commitment to work with our customers is yielding the results we expected," said Tom Floyd, Chief Lending Officer of MainStreet Bank. "The loan portfolio is in great shape, largely due to our unwavering credit discipline and knowledge of the key players in the community." "The loan to deposit ratio remained well utilized at 99%," said Alex Vari, Chief Financial Officer of MainStreet Bank. "We are focused on strategically managing our deposits, keeping them in lockstep with our loan funding needs. This directly contributed to the growth of our net interest margin." The Company maintains an active share repurchase plan in place with approximately $3.1 million in available capacity and continues to evaluate share repurchases as part of the Company's strategic capital plan. About MainStreet Bank: 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. 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) June 30, 2025 March 31, 2025 December 31, 2024* September 30, 2024 June 30, 2024 ASSETS Cash and cash equivalents Cash and due from banks $ 20,888 $ 18,385 $ 21,351 $ 15,319 $ 17,112 Interest-bearing deposits at other financial institutions 85,796 159,582 161,866 191,637 50,495 Federal funds sold 26,600 24,673 24,491 25,158 23,852 Total cash and cash equivalents 133,284 202,640 207,708 232,114 91,459 Investment securities available for sale, at fair value 56,138 55,935 55,747 58,489 57,605 Investment securities held to maturity, at amortized cost, net of allowance for credit losses of $0 for all periods 14,846 15,657 16,078 16,016 16,036 Restricted securities, at amortized cost 7,005 7,005 6,873 6,873 6,749 Loans, net of allowance for credit losses of $19,057, $19,460, $19,450, $18,327, and $17,098, respectively 1,767,432 1,811,789 1,810,556 1,775,558 1,778,840 Premises and equipment, net 16,569 13,020 13,287 13,571 13,787 Accrued interest and other receivables 15,023 9,607 11,311 11,077 11,916 Computer software, net of amortization — — — 18,881 17,205 Bank owned life insurance 40,117 39,809 39,507 39,203 38,901 Other assets 64,367 67,383 67,031 52,817 61,248 Total Assets $ 2,114,781 $ 2,222,845 $ 2,228,098 $ 2,224,599 $ 2,093,746 LIABILITIES AND STOCKHOLDERS' EQUITY Liabilities: Non-interest bearing deposits $ 330,045 $ 345,319 $ 324,307 $ 347,575 $ 314,636 Interest-bearing demand deposits 124,090 106,033 139,780 197,527 179,513 Savings and NOW deposits 116,069 124,049 64,337 61,893 60,867 Money market deposits 463,904 511,925 560,082 451,936 476,396 Time deposits 764,439 820,999 819,288 834,738 723,951 Total deposits 1,798,547 1,908,325 1,907,794 1,893,669 1,755,363 Subordinated debt, net 71,238 72,138 73,039 72,940 72,841 Other liabilities 31,526 32,764 39,274 31,939 40,827 Total Liabilities 1,901,311 2,013,227 2,020,107 1,998,548 1,869,031 Stockholders' Equity: Preferred stock 27,263 27,263 27,263 27,263 27,263 Common stock 29,825 29,810 29,466 29,463 29,452 Capital surplus 68,261 67,612 67,823 67,083 66,392 Retained earnings 95,585 92,305 91,150 108,616 109,651 Accumulated other comprehensive loss (7,464) (7,372) (7,711) (6,374) (8,043) Total Stockholders' Equity 213,470 209,618 207,991 226,051 224,715 Total Liabilities and Stockholders' Equity $ 2,114,781 $ 2,222,845 $ 2,228,098 $ 2,224,599 $ 2,093,746 *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 June 30, 2025 June 30, 2024 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 INTEREST INCOME: Interest and fees on loans $ 63,554 $ 62,238 $ 32,443 $ 31,111 $ 31,323 $ 31,615 $ 31,655 Interest on investment securities Taxable securities 851 865 431 420 431 397 430 Tax-exempt securities 530 538 267 263 262 294 268 Interest on interest-bearing deposits at other financial institutions 1,878 1,694 932 946 2,826 1,041 806 Interest on federal funds sold 436 570 213 223 277 244 277 Total interest income 67,249 65,905 34,286 32,963 35,119 33,591 33,436 INTEREST EXPENSE: Interest on interest-bearing demand deposits 2,052 3,933 1,004 1,048 2,612 2,117 2,118 Interest on savings and NOW deposits 612 347 391 221 201 206 190 Interest on money market deposits 9,983 10,632 4,707 5,276 5,475 5,277 5,542 Interest on time deposits 17,626 17,819 8,595 9,031 10,003 9,543 9,010 Interest on federal funds purchased 65 298 — 65 — 277 191 Interest on Federal Home Loan Bank advances — 46 — — — — — Interest on subordinated debt 1,611 1,640 799 812 787 828 820 Total interest expense 31,949 34,715 15,496 16,453 19,078 18,248 17,871 Net interest income 35,300 31,190 18,790 16,510 16,041 15,343 15,565 Provision for (recovery of) credit losses (543) 443 (543) — 3,407 2,913 638 Net interest income after provision for (recovery of) credit losses 35,843 30,747 19,333 16,510 12,634 12,430 14,927 NON-INTEREST INCOME: Deposit account service charges 1,068 959 538 530 481 557 490 Bank owned life insurance income 610 583 308 302 304 302 291 Gain on retirement of subordinated debt 128 — 68 60 — — — Gain on valuation of equity securities 103 — 103 — — — — Net loss on securities called or matured — (48) — — — — (48) Other non-interest income 96 66 49 47 22 27 31 Total non-interest income 2,005 1,560 1,066 939 807 886 764 NON-INTEREST EXPENSES: Salaries and employee benefits 16,664 14,972 8,279 8,385 8,253 7,250 7,484 Furniture and equipment expenses 2,157 1,875 1,141 1,016 830 931 940 Advertising and marketing 1,011 1,020 530 481 600 579 566 Occupancy expenses 714 849 318 396 358 407 415 Outside services 2,463 1,614 1,290 1,173 1,168 845 839 Administrative expenses 499 471 270 229 243 215 229 Computer software intangible impairment — — — — 19,721 — — Other operating expenses 5,551 4,515 2,917 2,634 3,258 2,992 2,362 Total non-interest expenses 29,059 25,316 14,745 14,314 34,431 13,219 12,835 Income (loss) before income tax expense (benefit) 8,789 6,991 5,654 3,135 (20,990) 97 2,856 Income tax expense (benefit) 1,746 1,068 1,064 682 (4,823) (168) 238 Net income (loss) 7,043 5,923 4,590 2,453 (16,167) 265 2,618 Preferred stock dividends 1,078 1,078 539 539 539 539 539 Net income (loss) available to common shareholders $ 5,965 $ 4,845 $ 4,051 $ 1,914 $ (16,706) $ (274) $ 2,079 Earnings (loss) per common share, basic and diluted $ 0.78 $ 0.64 $ 0.53 $ 0.25 $ (2.20) $ (0.04) $ 0.27 Weighted average number of common shares, basic and diluted 7,670,623 7,610,188 7,704,677 7,636,191 7,603,318 7,601,925 7,608,389 UNAUDITED LOAN, DEPOSIT AND BORROWING DETAIL (In thousands) June 30, 2025 March 31, 2025 June 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 $ 328,351 18.3 % $ 344,742 18.8 % $ 410,698 22.8 % -4.8 % -20.1 % Residential real estate loans 452,458 25.3 % 450,728 24.6 % 449,700 25.0 % 0.4 % 0.6 % Commercial real estate loans 911,390 50.9 % 933,947 50.9 % 845,030 46.9 % -2.4 % 7.9 % Commercial and industrial loans 97,699 5.5 % 105,180 5.6 % 93,559 5.2 % -7.1 % 4.4 % Consumer loans 1,075 0.1 % 1,331 0.1 % 2,232 0.1 % -19.2 % -51.8 % Total Gross Loans $ 1,790,973 100.0 % $ 1,835,928 100.0 % $ 1,801,219 100.0 % -2.4 % -0.6 % Less: Allowance for credit losses (19,057) (19,460) (17,098) Net deferred loan fees (4,484) (4,679) (5,281) Net Loans $ 1,767,432 $ 1,811,789 $ 1,778,840 DEPOSITS: Non-interest bearing deposits $ 330,045 18.4 % $ 345,319 18.1 % $ 314,636 17.9 % -4.4 % 4.9 % Interest-bearing deposits: Demand deposits 124,090 6.9 % 106,033 5.6 % 179,513 10.2 % 17.0 % -30.9 % Savings and NOW deposits 116,069 6.5 % 124,049 6.5 % 60,867 3.5 % -6.4 % 90.7 % Money market deposits 463,904 25.8 % 511,925 26.8 % 476,396 27.1 % -9.4 % -2.6 % Certificates of deposit $250,000 or more 490,692 27.2 % 541,772 28.4 % 473,827 27.0 % -9.4 % 3.6 % Certificates of deposit less than $250,000 273,747 15.2 % 279,227 14.6 % 250,124 14.3 % -2.0 % 9.4 % Total Deposits $ 1,798,547 100.0 % $ 1,908,325 100.0 % $ 1,755,363 100.1 % -5.8 % 2.5 % BORROWINGS: Subordinated debt, net 71,238 100.0 % 72,138 100.0 % 72,841 100.0 % -1.2 % -2.2 % Total Borrowings $ 71,238 100.0 % $ 72,138 100.0 % $ 72,841 -1.2 % -2.2 % Total Deposits and Borrowings $ 1,869,785 $ 1,980,463 $ 1,828,204 -5.6 % 2.3 % Core customer funding sources(1) $ 1,329,804 71.1 % $ 1,330,390 67.2 % $ 1,376,991 75.3 % 0.0 % -3.4 % Brokered and listing service sources(2) 468,743 25.1 % 577,935 29.2 % 378,372 20.7 % -18.9 % 23.9 % Subordinated debt, net (3) 71,238 3.8 % 72,138 3.6 % 72,841 4.0 % -1.2 % -2.2 % Total Funding Sources $ 1,869,785 100.0 % $ 1,980,463 100.0 % $ 1,828,204 100.0 % -5.6 % 2.3 % (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 $151.3 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 June 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 June 30, 2025 For the three months ended June 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) $ 1,819,307 $ 32,443 7.15 % $ 1,782,124 $ 31,655 7.12 % Securities: Taxable 52,911 431 3.27 % 55,323 430 3.12 % Tax-exempt 35,434 338 3.83 % 36,717 339 3.71 % Interest-bearing deposits at other financial institutions 84,353 932 4.43 % 59,610 806 5.42 % Federal funds sold 23,986 213 3.56 % 25,095 277 4.43 % Total interest-earning assets $ 2,015,991 $ 34,357 6.84 % $ 1,958,869 $ 33,507 6.86 % Other assets 116,675 131,656 Total assets $ 2,132,666 $ 2,090,525 Liabilities and Stockholders' Equity: Interest-bearing liabilities: Interest-bearing demand deposits $ 112,579 $ 1,004 3.58 % $ 172,221 $ 2,118 4.93 % Savings and NOW deposits 119,163 391 1.32 % 47,767 190 1.60 % Money market deposits 479,267 4,707 3.94 % 463,641 5,542 4.79 % Time deposits 784,824 8,595 4.39 % 715,777 9,010 5.05 % Total interest-bearing deposits $ 1,495,833 $ 14,697 3.94 % $ 1,399,406 $ 16,860 4.83 % Federal funds purchased 1 — — 13,298 191 5.76 % Subordinated debt, net 71,199 799 4.50 % 72,802 820 4.52 % Total interest-bearing liabilities $ 1,567,033 $ 15,496 3.97 % $ 1,485,506 $ 17,871 4.83 % Demand deposits and other liabilities 354,552 381,825 Total liabilities $ 1,921,585 $ 1,867,331 Stockholders' Equity 211,081 223,194 Total Liabilities and Stockholders' Equity $ 2,132,666 $ 2,090,525 Interest Rate Spread 2.87 % 2.03 % Net Interest Income $ 18,861 $ 15,636 Net Interest Margin 3.75 % 3.20 % (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 six months ended June 30, 2025 For the six months ended June 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) $ 1,834,314 $ 63,554 6.99 % $ 1,755,443 $ 62,238 7.11 % Securities: Taxable 53,050 851 3.23 % 55,708 865 3.11 % Tax-exempt 35,317 671 3.83 % 37,068 681 3.68 % Interest-bearing deposits at other financial institutions 85,527 1,878 4.43 % 62,931 1,694 5.40 % Federal funds sold 24,478 436 3.59 % 25,418 570 4.50 % Total interest-earning assets $ 2,032,686 $ 67,390 6.69 % $ 1,936,568 $ 66,048 6.84 % Other assets 111,326 127,430 Total assets $ 2,144,012 $ 2,063,998 Liabilities and Stockholders' Equity: Interest-bearing liabilities: Interest-bearing demand deposits $ 111,999 $ 2,052 3.69 % $ 159,234 $ 3,933 4.95 % Savings and NOW deposits 93,649 612 1.32 % 45,993 347 1.51 % Money market deposit 508,319 9,983 3.96 % 448,647 10,632 4.75 % Time deposits 791,399 17,626 4.49 % 712,898 17,819 5.01 % Total interest-bearing deposits $ 1,505,366 $ 30,273 4.06 % $ 1,366,772 $ 32,731 4.80 % Federal funds purchased 2,790 65 4.70 % 10,386 298 5.75 % FHLB advances — — — 1,648 46 5.60 % Subordinated debt, net 72,116 1,611 4.50 % 72,752 1,640 4.52 % Total interest-bearing liabilities $ 1,580,272 $ 31,949 4.08 % $ 1,451,558 $ 34,715 4.80 % Demand deposits and other liabilities 354,133 389,792 Total liabilities $ 1,934,405 $ 1,841,350 Stockholders' Equity 209,607 222,648 Total Liabilities and Stockholders' Equity $ 2,144,012 $ 2,063,998 Interest Rate Spread 2.61 % 2.04 % Net Interest Income $ 35,441 $ 31,333 Net Interest Margin 3.52 % 3.24 % (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 Six Months Ended June 30, June 30, 2025 2024 2025 2024 Per share Data and Shares Outstanding Earnings per common share (basic and diluted) $ 0.53 $ 0.27 $ 0.78 $ 0.64 Book value per common share $ 24.17 $ 25.99 $ 24.17 $ 25.99 Tangible book value per common share(2) $ 24.17 $ 23.72 $ 24.17 $ 23.72 Weighted average common shares (basic and diluted) 7,704,677 7,608,389 7,670,623 7,610,188 Common shares outstanding at end of period 7,704,037 7,598,529 7,704,037 7,598,529 Performance Ratios Return on average assets (annualized) 0.86 % 0.50 % 0.66 % 0.58 % Return on average equity (annualized) 8.72 % 4.70 % 6.78 % 5.34 % Return on average tangible common equity (annualized) 8.84 % 4.64 % 6.60 % 5.00 % Yield on earning assets (FTE) (2) (annualized) 6.84 % 6.86 % 6.69 % 6.84 % Cost of interest bearing liabilities (annualized) 3.97 % 4.83 % 4.08 % 4.80 % Net interest spread (FTE)(2) (annualized) 2.87 % 2.03 % 2.61 % 2.04 % Net interest margin (FTE)(2) (annualized) 3.75 % 3.20 % 3.52 % 3.24 % Non-interest income as a percentage of average assets (annualized) 0.20 % 0.15 % 0.19 % 0.15 % Non-interest expense to average assets (annualized) 2.77 % 2.46 % 2.73 % 2.46 % Efficiency ratio(3) 74.26 % 78.60 % 77.90 % 77.30 % Asset Quality Allowance for credit losses (ACL) Beginning balance, ACL - loans $ 19,460 $ 16,531 $ 19,450 $ 16,506 Add: recoveries 747 6 757 8 Less: charge-offs (622) (370) (622) (511) Add: provision for (recovery of) credit losses - loans (528) 931 (528) 1,095 Ending balance, ACL - loans $ 19,057 $ 17,098 $ 19,057 $ 17,098 Beginning balance, reserve for unfunded commitment (RUC) $ 287 $ 650 $ 287 $ 1,009 Add: recovery of unfunded commitments, net (15) (293) (15) (652) Ending balance, RUC $ 272 $ 357 $ 272 $ 357 Total allowance for credit losses $ 19,329 $ 17,455 $ 19,329 $ 17,455 Allowance for credit losses on loans to total gross loans 1.07 % 0.95 % 1.07 % 0.95 % Allowance for credit losses on loans to non-performing loans 2.01X 1.78X 2.01X 1.78X Net charge-offs (recoveries) to average gross loans (annualized) (0.03) % 0.08 % (0.01) % 0.06 % Concentration Ratios Commercial real estate loans to total capital (4) 365.89 % 367.24 % 365.89 % 367.24 % Construction loans to total capital (5) 108.84 % 130.19 % 108.84 % 130.19 % Past due and Non-performing Assets Loans 30-89 days past due and accruing to total gross loans 2.12 % 0.81 % 2.12 % 0.81 % 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 0.40 % 1.15 % 0.40 % 1.15 % Other real estate owned $ — $ — $ — $ — Non-performing loans $ 7,169 $ 20,691 $ 7,169 $ 20,691 Non-performing assets to total assets 0.34 % 0.99 % 0.34 % 0.99 % Regulatory Capital Ratios (Bank only) (1) Total risk-based capital ratio 16.44 % 16.78 % 16.44 % 16.78 % Tier 1 risk-based capital ratio 15.39 % 15.85 % 15.39 % 15.85 % Leverage ratio 13.21 % 14.22 % 13.21 % 14.22 % Common equity tier 1 ratio 15.39 % 15.85 % 15.39 % 15.85 % Other information Common shares closing stock price $ 18.90 $ 17.73 $ 18.90 $ 17.73 Tangible equity / tangible assets (2) 10.09 % 9.99 % 10.09 % 9.99 % Average tangible equity / average tangible assets (2) 9.90 % 9.97 % 9.78 % 10.10 % Number of full time equivalent employees 174 195 174 195 Number of full service branch offices 6 6 6 6 (1) Regulatory capital ratios as of June 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 June 30, For the six months ended June 30, 2025 2024 2025 2024 Net interest margin (FTE) Net interest income (GAAP) $ 18,790 $ 15,565 $ 35,300 $ 31,190 FTE adjustment on tax-exempt securities 71 71 141 143 Net interest income (FTE) (non-GAAP) 18,861 15,636 35,441 31,333 Average interest earning assets 2,015,991 1,958,869 2,032,686 1,936,568 Net interest margin (GAAP) 3.74 % 3.18 % 3.50 % 3.25 % Net interest margin (FTE) (non-GAAP) 3.75 % 3.20 % 3.52 % 3.26 % For the three months ended June 30, For the six months ended June 30, 2025 2024 2025 2024 Yield on earning assets (FTE) Total interest income (GAAP) $ 34,286 $ 33,436 $ 67,249 $ 65,905 FTE adjustment on tax-exempt securities 71 71 141 143 Total interest income (FTE) (non-GAAP) 34,357 33,507 67,390 66,048 Average interest earning assets 2,015,991 1,958,869 2,032,686 1,936,568 Yield on earning assets (GAAP) 6.82 % 6.85 % 6.67 % 6.83 % Yield on earning assets (FTE) (non-GAAP) 6.84 % 6.86 % 6.69 % 6.84 % For the three months ended June 30, For the six months ended June 30, 2025 2024 2025 2024 Net interest spread (FTE) Yield on earning assets (GAAP) 6.82 % 6.85 % 6.67 % 6.83 % Yield on earning assets (FTE) (non-GAAP) 6.84 % 6.86 % 6.69 % 6.84 % Yield on interest-bearing liabilities (GAAP) 3.97 % 4.83 % 4.08 % 4.80 % Net interest spread (GAAP) 2.85 % 2.02 % 2.59 % 2.03 % Net interest spread (FTE) (non-GAAP) 2.87 % 2.04 % 2.61 % 2.04 % As of June 30, As of June 30, 2025 2024 2025 2024 Tangible common stockholders' equity Total stockholders equity (GAAP) $ 213,470 $ 224,715 $ 213,470 $ 224,715 Less: intangible assets — (17,205) — (17,205) Tangible stockholders' equity (non-GAAP) 213,470 207,510 $ 213,470 207,510 Less: preferred stock (27,263) (27,263) (27,263) (27,263) Tangible common stockholders' equity (non-GAAP) 186,207 180,247 186,207 180,247 Common shares outstanding 7,704,037 7,598,529 7,704,037 7,598,529 Tangible book value per common share (non-GAAP) $ 24.17 $ 23.72 $ 24.17 $ 23.72 As of June 30, As of June 30, 2025 2024 2025 2024 Stockholders equity, adjusted Total stockholders equity (GAAP) $ 213,470 $ 224,715 $ 213,470 $ 224,715 Less: intangible assets — (17,205) — (17,205) Total tangible stockholders equity (non-GAAP) 213,470 207,510 213,470 207,510 As of June 30, As of June 30, 2025 2024 2025 2024 Total tangible assets Total assets (GAAP) $ 2,114,781 $ 2,093,746 $ 2,114,781 $ 2,093,746 Less: intangible assets — (17,205) — (17,205) Total tangible assets (non-GAAP) 2,114,781 2,076,541 2,114,781 2,076,541 For the three months ended June 30, For the six months ended June 30, 2025 2024 2025 2024 Average tangible stockholders' equity Total average stockholders' equity (GAAP) $ 211,081 $ 223,194 $ 209,607 $ 222,648 Less: average intangible assets — (16,386) — (15,732) Total average tangible stockholders' equity (non-GAAP) 211,081 206,808 209,607 206,916 For the three months ended June 30, For the six months ended June 30, 2025 2024 2025 2024 Average tangible assets Total average assets (GAAP) $ 2,132,666 $ 2,090,525 $ 2,144,012 $ 2,063,998 Less: average intangible assets — (16,386) — (15,732) Total average tangible assets (non-GAAP) 2,132,666 2,074,139 2,144,012 2,048,266 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-strong-second-quarter-earnings-302510344.html SOURCE MainStreet Bancshares, Inc.