MainStreet Bancshares reports Q3 EPS 77c, consensus 77c

Q3 provision for credit losses was $1.18M from $1.28M last year. Reports tangible book value per common share $23.00 at quarter end from $20.94 at previous quarter end. “The company continues to put up very strong performance metrics in spite of the rising interest rate environment,” said Jeff Dick, CEO. “The team did an excellent job preparing the balance sheet for a rising rate environment leading up to Q1 of 2022. Since mid-2023, the team has been equally focused on neutralizing the balance sheet for a stable or slightly declining interest rate environment going forward.”