MNSB Overview

New CFO Appointment: MainStreet Bancshares, Inc. has appointed Alex Vari as the new chief financial officer, succeeding Thomas Chmelik, who will retire on December 31.

Continued Role for Chmelik: Despite his retirement, Chmelik will remain as Senior Executive Vice President and Secretary of the Bank and Company until December 31, 2027.

Current Position of Vari: Alex Vari is currently serving as the finance chief and Executive Vice President of MainStreet Bank.

Stock Performance: On the day prior to the announcement, MNSB shares closed at $19.43, reflecting a 3.35% increase on the Nasdaq.

CFO Transition: Thomas J. Chmelik will retire as Chief Financial Officer of MainStreet Bancshares, Inc. on December 31, 2025, but will remain as Senior Executive Vice President and Secretary until December 31, 2027.

New Leadership: Alex Vari, currently the CFO of MainStreet Bank, is set to assume the role of Company CFO following Chmelik's retirement, having been prepared for this transition over the past several years.

Company Background: MainStreet Bancshares, Inc. is a small-cap financial holding company that owns MainStreet Bank, a community bank based in Fairfax, Virginia, known for its innovative banking solutions and extensive lending products.

Forward-Looking Statements: The announcement includes forward-looking statements regarding the company's expectations and potential risks, emphasizing the uncertainty of future events and market conditions.

Financial Performance: MainStreet Bancshares, Inc. reported a net income of $4.52 million and earnings per share of $0.52 for Q3 2025, exceeding market expectations of $4.48 million and $0.51 respectively.

Core Net Interest Margin: The bank's core net interest margin stood at a healthy 3.54%, with a strong outlook for continued revenue generation and expense control, according to CFO Alex Vari.

Stock Repurchase Program: The Board of Directors authorized a new stock repurchase program allowing the company to buy back up to $10 million of its common stock, replacing the previous program from May 2022.

Lending Opportunities: MainStreet Bank continues to identify quality lending opportunities in sectors such as government contracting and commercial real estate, maintaining strong asset quality and customer relationships.