MainStreet Bancshares, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
January 23, 2023 at 06:30 pm IST
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MainStreet Bancshares, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported net interest income was USD 20.6 million compared to USD 13.87 million a year ago. Net income was USD 7.58 million compared to USD 4.81 million a year ago. Basic earnings per share from continuing operations was USD 0.95 compared to USD 0.56 a year ago.
For the full year, net interest income was USD 70.01 million compared to USD 53.54 million a year ago. Net income was USD 26.67 million compared to USD 22.17 million a year ago. Basic earnings per share from continuing operations was USD 3.26 compared to USD 2.65 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.