MainStreet Bancshares, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 24, 2023 at 08:01 am EDT
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MainStreet Bancshares, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 19.27 million compared to USD 16.12 million a year ago. Net income was USD 6.95 million compared to USD 5.93 million a year ago. Basic earnings per share from continuing operations was USD 0.85 compared to USD 0.71 a year ago.
For the six months, net interest income was USD 40.36 million compared to USD 31.32 million a year ago. Net income was USD 15.1 million compared to USD 11.35 million a year ago. Basic earnings per share from continuing operations was USD 1.86 compared to USD 1.35 a year ago.
MainStreet BankShares, Inc. is a bank holding company. The Company's subsidiary is Franklin Community Bank, National Association (Franklin Bank). Franklin Bank is a nationally chartered commercial bank and member of the Federal Reserve whose deposits are insured by the Federal Deposit Insurance Corporation (FDIC). Franklin Bank accepts deposits from the general public and makes commercial, consumer, and real estate loans. The Company formed a wholly owned real estate company, MainStreet RealEstate, Inc., for the sole purpose of owning the real estate of the Company. It owns the facility in which Franklin Bank's Southlake branch operates.