MainStreet Bancshares reports Q1 EPS 36c vs. $1.01 last year

“Our loan portfolio was well-positioned for the current interest rate cycle and continues to generate strong and sustainable interest income. During the first quarter of 2024, we experienced an uptick in deposit costs, compressing the net interest margin to 3.24%,” said Jeff Dick, Chairman & CEO of MainStreet Bancshares and MainStreet Bank. “We are focused on improving our funding costs for the remainder of 2024 and anticipate that our cumulative performance ratios will reflect our ability to do so, as we build for the future and deliver positive returns to our shareholders.”