MainStreet Bancshares (MNSB) Q4 2024 Earnings Call

Motley Fool Transcribing, The Motley Fool

Mon, January 26, 2026 astatine 11:00 AM CST 39 min read

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Friday, March 14, 2025 astatine 2:00 p.m. ET

• Chairman and Chief Executive Officer — Jeff Dick

• Chief Lending Officer — Tom Floyd

• Chief Accountant — Alex Vari

• Chief Financial Officer — Tom Chmelik

Jeff Dick: Well, bully day and convey you for joining our virtual net webcast. My sanction is Jeff Dick, I'm the president and CEO of MainStreet Bancshares, Inc. and Main Street Bank. I'm joined present contiguous with our Chief Lending Officer, Tom Floyd; our Chief Accountant, Alex Vari, and of people our CFO, Tom Chmelik. If you'd like, you tin taxable written questions passim the presumption utilizing the viewing portal. We volition code your questions astatine the extremity of this presentation. If you miss, if we miss your questions during the discussion, delight scope retired aft the webcast. Chris Marinac volition not beryllium joining america connected the telephone today.

He did taxable questions successful advance, and we volition code them aft the session. Also Matt Breese of Stephens, Inc., nary longer provides sum for our company. We'd beryllium remiss if we didn't constituent you to our Safe Harbor leafage that describes the contented of the forward-looking statements. We usage definite non-GAAP measures which are identified arsenic specified wrong the presumption materials. The DC marketplace is inactive a large spot to bash business. We ever speech astir the spot of our market, due to the fact that we are successful a portion that hosts the national authorities oregon we bash besides person world-class universities, infirmary systems, airports, tourism, information centers, and astatine slightest 16, 14 Fortune 500 companies.

As such, we besides person debased unemployment and precocious median household income for our workforce. Slide 4 reminds you of our maturation communicative implicit the past 20-years. I deliberation there's an absorbing correlation to beryllium made from our aboriginal years to the contiguous time. We started with a exertion strategy of putting our slope successful our customer's office. You whitethorn callback backmost successful 2004 that the Check 21 Act became instrumentality soon aft we opened, which allows -- allowed for the distant deposit of a integer representation of a Check. Acquiring customers with the conception of scanning and remotely depositing checks utilizing our online banking solution wasn't easy. It was new.

When we archetypal met with a imaginable customer, we would springiness them the presumption and they would typically reply with, well, that's interesting. Let maine cognize erstwhile you person a subdivision nearby. We persevered. It took a portion to get customers comfy with our solution. Once they had it, they couldn't bash without it. Growth was dilatory successful the beginning, but it rapidly picked up. All these years later, we are inactive the largest supplier of distant deposit of immoderate slope serviced by our halfway processor, Jack Henry. Today, we're successful a akin situation. We person a large solution. We request to get it successful beforehand of the close customers successful bid to grow.