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MainStreet Bancshares reports Q1 EPS $1.01, consensus 94c
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MainStreet Bancshares reports Q1 EPS $1.01, consensus 94c

Reports Q1 NII $21.1M vs. $15.2M last year. Reports Q1 loan loss provision $283M vs. $800M a year ago. Tangible book value per common share was $22.22 vs. $20.61 at previous quarter end. "In light of the recent banking tensions, we’d be remiss if we didn’t address the important issues on the table," said Jeff W. Dick, CEO. "We’ve taken the opportunity to re-evaluate our risk management processes along with our current balance sheet strategy. The result of that review is that we remain comfortable and confident with our risk profile – given the current and anticipated economic environment. Our deposit base is stable and growing. Currently nearly 70% of our outstanding deposits are insured by the FDIC and we offer all depositors access to additional FDIC insurance coverage through IntraFi. Our systems for managing liquidity risk, interest rate risk, and credit risk, along with all the other risks we manage daily, continue to give us an accurate assessment of the Bank and allow us to manage to our approved risk tolerance. Our primary objective is to ensure the ongoing safety and soundness of the Bank and the protection of depositor’s money. We have demonstrated the ability to do just that while pursuing good opportunities and rewarding investors with high quality performance."

Published first on TheFly

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