MainStreet Bank Spreads Holiday Cheer with 'Pawsitive' Impact on Local Animals
Rhea-AI Summary
MainStreet Bancshares Inc (Nasdaq: MNSB) is making an impact through its employee-directed giving program 'Making Change', which allows full-time employees to direct $1,000 in donations to local causes. The program has donated $27,000 to local animal organizations since spring 2023. A notable contribution includes an $11,000 donation to Friends of Homeless Animals in Aldie, Virginia, covering nearly half of their annual pet food budget. The bank's employees also participated in volunteer events at local animal shelters, demonstrating their commitment to animal welfare through corporate giving and volunteerism.
Positive
- Successfully launched Avenu BaaS solution on October 1, 2024, diversifying revenue streams
- Holds an investment grade rating of 'A' from Egan-Jones Rating Company
- Operates a cost-efficient branch-lite model with six financial centers
- Provides access to 55,000 free ATMs
Negative
- None.
News Market Reaction
On the day this news was published, MNSB gained 0.11%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Employee-directed giving program, Making Change, brings joy to furry friends this giving season
This year, MainStreet Bank employees embraced the season by participating in two volunteer events at local animal shelters. Adding to the festive spirit,
MainStreet Bank launched the Making Change program in the spring of 2023. Making Change empowers every full-time employee to direct
"Making Change goes beyond traditional corporate giving by empowering our employees to be the philanthropists," said Jeff Dick, Chairman and CEO of MainStreet Bancshares Inc. and MainStreet Bank. "This grassroots approach mirrors how MainStreet Bank prioritizes customers who desire a more personalized banking relationship than larger banks can offer."
One example of this holiday spirit in action is an
Further demonstrating their commitment to animal welfare, MainStreet Bank partnered with Friends of Homeless Animals and Homeward Trails Animal Rescue in
Since its inception in the spring of 2023, the Making Change program has donated
- Animal Welfare League of
Alexandria - Bobbie's Pit Bull Rescue and Sanctuary
- Cats at Longstreet
- Cinderella's Animal Rescue and Sanctuary
- Collie Rescue Inc.
- Friends of Loudoun County Animal Services
- HART Homeless Animal Rescue Team
- Lost Dog & Cat Rescue Foundation
- Loudoun County Animal Shelter
- Paws of Honor
"Our employees love that they can make a direct impact on the lives of animals," says Trish Smith, MainStreet Bank's Chief Human Resources Officer. "Making Change gives them a chance to give back to their community in a way that truly aligns with their values, and that's something we're incredibly proud of this holiday season."
BACKGROUND: MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), is a small-cap financial holding company trading in the Nasdaq Capital Market index. The financial holding company owns
In 2021, the Board and management decided to make an investment in technology that would best serve clients requiring Banking-as-a-Service (BaaS). The Avenu BaaS solution was officially released into service on October 1, 2024. The ability to digitally offer banking services in a safe and compliant manner allows the Company to reach new customer deposit segments, diversify revenue streams and generate additional income. The BaaS market is currently underserved, and the opportunities for a well-developed solution are robust. The Avenu business model is in line with the Company's physical branch-lite strategy.
MainStreet Bank has a robust line of business and professional lending products, including government contracting lines of credit, commercial lines and term loans, residential and commercial construction, and commercial real estate. MainStreet Bank is an SBA Preferred Lender. From sophisticated cash management to enhanced mobile banking and instant-issue Debit Cards, MainStreet Bank is always looking for ways to improve our customer's experience.
MainStreet Bank was the first community bank in the
MainStreet Bank provides a full-stack embedded banking solution that connects fintech partners and their apps directly and seamlessly to the purpose-built Avenu core. Avenu's clients are fintechs, social media solutions, application developers, money movers, and entrepreneurs. They all have one thing in common: They are in search of a reliable partner to help innovate how money moves—solving real-world issues and helping communities thrive. MainStreet Bank is that reliable partner dedicated to providing a best-in-class solution to sustain long-term business relationships.
MainStreet Bancshares, Inc. has an investment grade rating of "A" from Egan-Jones Rating Company.
This release contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions are intended to identify such forward-looking statements. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, future impacts of pandemic outbreaks, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.
Contact: Debra Cope
Director of Corporate Communications
Desk (703) 481-4599
Mobile (202) 468-3814
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SOURCE MainStreet Bancshares, Inc.
FAQ
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