UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38817 MainStreet Bancshares, Inc. (Exact name of Registrant as specified in its Charter) | Virginia | 81-2871064 | | --- | --- | | (S ...

Core Insights - MainStreet Bank has officially opened a new branch in Middleburg, Virginia, marking its entry into the region known for its equestrian culture and community values [1] - The bank emphasizes its commitment to personalized service and community integration, with a focus on building long-term relationships [1] Company Overview - MainStreet Bancshares, Inc. operates seven branches across the Washington, D.C. metropolitan area, including locations in Herndon, Fairfax, McLean, Leesburg, Clarendon, Middleburg, and Washington, D.C. [1] - The bank boasts over 55,000 free ATMs and offers a fully integrated online and mobile banking solution [1] - MainStreet Bank provides a wide range of business and professional lending products, including government contracting lines of credit, commercial loans, and residential and commercial construction financing [1] Community Engagement - The bank's leadership, including CEO Jeff W. Dick and President Abdul Hersiburane, highlights the importance of community ties and tradition in their business approach [1] - Local team members, such as Devon Porter and Leslie Cabral, have deep roots in Middleburg, enhancing the bank's connection to the community [1] Innovation and Services - MainStreet Bank was the first community bank in the Washington, D.C. area to offer a full online business banking solution and multi-million-dollar FDIC insurance through CDARS [1] - The bank continually seeks to improve customer experience through advanced cash management solutions and mobile banking features [1]

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

Company Overview - MainStreet Bancshares, Inc. and MainStreet Bank are led by CEO Jeff Dick, who emphasizes the importance of the D.C. metropolitan area as a strong market for community banking [1][2] - The company is well-positioned in a vibrant market characterized by high median household income and significant economic activity [3] Market Conditions - The D.C. metropolitan area boasts a median household income of $125,000 and an average home listing price of $810,000, with homes averaging 38 days on the market [3] - The presence of major universities, tourism, cutting-edge technologies, data centers, world-class medical facilities, and Fortune 500 companies contributes to a robust economic environment [3] Business Strategy - The federal government has historically been a significant strength for the company, and it remains vigilant in addressing any potential impacts on its business strategy [3]

Core Insights - The company has experienced slow initial growth but has become the largest provider of remote deposit services among banks serviced by its core processor, Jack Henry, indicating a strong market position and potential for future growth [1][2] - The company operates in a favorable economic environment characterized by low unemployment and high median household income, which supports its growth strategy [2] - The company has a strong focus on technology and online banking solutions, which has been a key driver of its organic growth strategy [5] Financial Performance - For the fiscal year 2024, the company reported a net loss of $1.60 per share, with a return on average assets of negative 0.47% and a return on average equity of negative 4.44% [7] - The company recognized an impairment of intangible assets during the fourth quarter, which negatively impacted several performance ratios, including earnings per share by $2.14 and return on average assets by 76 basis points [11] - Despite challenges, the company has made significant progress in managing non-performing loans, reducing them by 62% over the year, and remains strongly capitalized [24][28] Loan Portfolio and Growth - The loan portfolio grew by 6% in 2024, with a focus on owner-occupied and owner-operated businesses, indicating a strategic approach to lending [28] - The company anticipates low-single-digit loan growth for fiscal year 2025, supported by a diversified loan portfolio and a strong market presence [14][19] - The company has a healthy net interest margin of 3.13% and is actively managing its deposit relationships to enhance growth [12][16] Venue Opportunity - The company is developing a cannabis payments solution called Venue, which targets a significant market with an estimated U.S. legal cannabis retail market of $35.2 billion for 2025 [32][34] - The Venue solution aims to capture transaction fees from cannabis retail stores, with projections indicating potential earnings of $90 million or more from a conservative market penetration strategy [34] - The company is negotiating sales channels to accelerate the adoption of Venue, highlighting a proactive approach to market entry [34][35] Strategic Focus and Future Outlook - The company is focused on reducing expenses and improving operational efficiency, projecting a 40% reduction in run rate expenses for 2025 compared to 2024 [41][69] - Management is optimistic about the future, citing improved credit metrics and a commitment to serving the community as key drivers for growth [28][72] - The company is well-positioned to capitalize on market opportunities, particularly in the Washington DC Metropolitan area, where it has a low market share and significant growth potential [5][43]

Financial Data and Key Metrics Changes - The company reported earnings per common share of $1.76 for 2025, with a return on average assets of 0.73% and a return on average tangible common equity of 7.24% [5] - Net interest margin was recorded at 3.46%, with net interest income growing by 11% over the year [6][5] - The company successfully navigated a technology transition, resulting in improved financial performance and a disciplined capital allocation strategy [5] Business Line Data and Key Metrics Changes - The loan portfolio experienced a 2% growth quarter-over-quarter, with a focus on smaller quality opportunities [18] - The composition of the loan portfolio includes 30% non-owner-occupied commercial real estate, 24% owner-occupied commercial real estate, 16% construction, 12% multifamily, 12% residential real estate, and 6% commercial and industrial [12] - The company maintained annual net charge-offs at virtually zero, reflecting strong credit discipline [11] Market Data and Key Metrics Changes - The D.C. metropolitan area remains vibrant, with a median household income of $125,000 and an average home listing price of $810,000 [2] - The company has expanded its liquidity facilities, covering over 30% of its entire deposit portfolio [7] Company Strategy and Development Direction - The company is focused on core banking and has strategically managed growth to maximize core profitability rather than pursuing growth for its own sake [3] - A branch-light strategy is employed to enhance efficiency, leveraging technology to deliver banking services [3] - The company is expanding its branch footprint and targeting high-value niche industries to scale its non-interest-bearing base [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting continued loan and deposit growth momentum into the new year [7] - The company anticipates further funding cost relief throughout 2026, which may enhance net interest margins [6] - Management emphasized the importance of maintaining a well-diversified loan book and effective risk management practices [18] Other Important Information - The company repurchased 209,000 shares at a price that was 28% accretive to book value, with plans to continue share buybacks to enhance shareholder value [10] - The company is in a strong capital position, with a post-stress Common Equity Tier 1 ratio of 11.8%, well above the 7% threshold for well-capitalized institutions [16] Q&A Session Summary Question: What is the outlook for loan growth in 2026? - The company expects loan growth to be between 3% and 4% over the first six months of 2026 [9] Question: How is the company managing its loan portfolio? - The company is focusing on smaller-sized opportunities and maintaining a well-diversified loan book while actively managing across all categories [18] Question: What is the company's strategy regarding share repurchases? - The company plans to continue looking for opportunities to repurchase shares to enhance shareholder value [10]

Financial Data and Key Metrics Changes - The company reported earnings per common share of $1.76 for 2025, with a return on average assets of 0.73% and a return on average tangible common equity of 7.24% [5] - Net interest margin was recorded at 3.46%, with net interest income growing by 11% over the year [6][5] - The company successfully navigated a technology transition, resulting in improved financial performance and a disciplined capital allocation strategy [5] Business Line Data and Key Metrics Changes - The loan portfolio experienced a 2% growth quarter-over-quarter, with a focus on smaller quality opportunities [18] - The composition of the loan portfolio includes 30% non-owner-occupied commercial real estate, 24% owner-occupied commercial real estate, and 16% construction, among others [12] - The company maintained annual net charge-offs at virtually zero, reflecting strong credit discipline [11] Market Data and Key Metrics Changes - The D.C. metropolitan area remains vibrant, with a median household income of $125,000 and an average home listing price of $810,000 [2] - The company has expanded its liquidity facilities, covering over 30% of its entire deposit portfolio [7] Company Strategy and Development Direction - The company is focused on core banking and maximizing core profitability rather than pursuing growth for growth's sake [3] - A branch-light strategy is employed to enhance efficiency, leveraging technology to deliver banking services [3] - The company is expanding its branch footprint and targeting high-value niche industries to scale its non-interest-bearing base [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the current operating environment, citing a strong liquidity position and favorable net interest margin [6][7] - The company anticipates continued loan growth of 3%-4% over the first six months of 2026 [9] - Management remains confident in the company's ability to navigate challenges and deliver consistent performance [18] Other Important Information - The company repurchased 209,000 shares at a price that was 28% accretive to book value [10] - The company has a rigorous stress testing methodology, with a post-stress Common Equity Tier 1 ratio of 11.8%, well above the well-capitalized threshold [16] Q&A Session Summary Question: What is the company's strategy regarding loan growth? - The company is focusing on smaller-sized opportunities and building full relationships, maintaining a well-diversified loan book [18] Question: How does the company manage its credit risk? - The company maintains constant contact with borrowers and employs a rigorous stress testing methodology to manage risk effectively [16][14]

Financial Performance and Key Metrics - The company reported earnings per common share of $1.76 for 2025, with a return on average assets of 0.73% and a return on average tangible common equity of 7.24% [6] - The net interest margin was 3.46%, and net interest income grew by 11% over the year despite some problem credits [6][9] - The company experienced a meaningful loan and deposit growth during Q4 2025, with expectations for this momentum to continue into 2026 [7] Business Line Performance - The loan portfolio showed healthy growth, particularly in desirable categories, with annual net charge-offs at virtually zero [12] - The portfolio composition included 30% non-owner-occupied commercial real estate, 24% owner-occupied commercial real estate, 16% construction, 12% multifamily, 12% residential real estate, and 6% commercial and industrial [13] - The company has focused on reducing its commercial real estate concentration while strategically growing owner-occupied commercial real estate [13] Market Data and Key Indicators - The D.C. metropolitan area remains vibrant, with a median household income of $125,000 and an average home listing price of $810,000 [2] - The company has expanded its liquidity facilities, covering over 30% of its entire deposit portfolio, indicating a strong liquidity position [8] Company Strategy and Industry Competition - The company emphasizes a disciplined capital allocation strategy and a focus on core banking, aiming to maximize core profitability rather than growth for growth's sake [3] - The branch-light strategy is designed to be efficient given high real estate costs, leveraging technology to deliver banking services [3] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting funding cost relief and improved net interest margins as they navigate the current economic environment [6][10] - The company remains confident in its ability to manage risks and deliver consistent performance, supported by a strong capital base even under stress scenarios [19] Other Important Information - The company repurchased 209,000 shares at a price that was 28% accretive to book value, with plans to continue share buybacks to enhance shareholder value [11] - The company is set to open its 7th branch in February 2026, which has already accumulated over $100 million in low-cost deposits [4] Q&A Session Summary - No specific questions or answers were documented in the provided content, but management encouraged attendees to reach out for further discussions and indicated availability at the upcoming Janney Conference [20]

分组1 - MainStreet Bank reported quarterly earnings of $0.46 per share, missing the Zacks Consensus Estimate of $0.49 per share, compared to a loss of $0.12 per share a year ago, representing an earnings surprise of -6.12% [1] - The company posted revenues of $18.04 million for the quarter ended December 2025, missing the Zacks Consensus Estimate by 3.83%, and this is an increase from year-ago revenues of $16.85 million [2] - Over the last four quarters, MainStreet Bank has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] 分组2 - The stock's immediate price movement will depend on management's commentary during the earnings call and the sustainability of earnings expectations [3][4] - The current consensus EPS estimate for the coming quarter is $0.46 on revenues of $18.53 million, and for the current fiscal year, it is $2.05 on revenues of $76.45 million [7] - The Zacks Industry Rank for Banks - Northeast is currently in the top 27% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

January 26, 2026 2025 Financial Highlights Forward-looking statements and additional information Statements in this presentation which are not historical are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include discussions of the strategic plans and objectives or anticipated future performan ...