MainStreet Bancshares, Inc. Announces CFO Planned Retirement

Rhea-AI Summary

MainStreet Bancshares (Nasdaq: MNSB, MNSBP) announced that Thomas J. Chmelik will retire as Company Chief Financial Officer on December 31, 2025 and will remain as Senior Executive Vice President and Secretary through December 31, 2027. The company said Bank CFO Alex Vari, CPA will assume the Company CFO role upon Chmelik's retirement.

The release notes Chmelik is a co-founder of MainStreet Bank (opened May 2004), MainStreet Bancshares is listed on the Russell 2000, operates six full-service centers, serves over 1,000 businesses with an in-office bank model, and offers access to over 55,000 free ATMs; it holds an "A" rating from Egan-Jones.

Positive

• Planned succession to Bank CFO Alex Vari on 12/31/2025
• Founder will remain as Senior EVP and Secretary through 12/31/2027
• Company holds an "A" rating from Egan-Jones

Negative

• Company CFO role will be vacated by co-founder on 12/31/2025

Key Figures

CFO retirement date: December 31, 2025 Post-retirement service: Through December 31, 2027 Bank opening date: May 2004 +5 more

8 metrics

CFO retirement date December 31, 2025 Company CFO retirement effective date

Post-retirement service Through December 31, 2027 Senior Executive VP and Secretary roles

Bank opening date May 2004 MainStreet Bank founding

Bank charters 7,767 Number of U.S. bank charters in early 2004

Charter decline 43% Decline in bank charters over 21 years

Free ATMs Over 55,000 Network of free ATMs available to customers

Business clients Well over 1,000 Businesses using in-office bank model

Credit rating "A" Egan-Jones rating for MainStreet Bancshares, Inc.

Market Reality Check

Price: $24.72 Vol: Volume 34,886 is near the...

normal vol

$24.72 Last Close

Volume Volume 34,886 is near the 20-day average of 34,488 (relative volume 1.01). normal

Technical Price $20.67 is trading above the 200-day MA $19.16, showing a pre-news uptrend.

Peers on Argus

MNSB was up 1.54% with mixed peer action: BCBP (+0.84%), MRBK (+3.48%), UBFO (+3...

MNSB was up 1.54% with mixed peer action: BCBP (+0.84%), MRBK (+3.48%), UBFO (+3.40%), BVFL (+1.27%), and OVBC (-0.55%), suggesting stock-specific factors around the CFO transition.

Historical Context

5 past events · Latest: Nov 26 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 26	CFO retirement plan	Neutral	+0.3%	Announced planned retirement of long-time CFO and succession to bank CFO.
Oct 27	Quarterly results	Positive	-0.4%	Reported profitable Q3 with small beat on net income and EPS versus expectations.
Sep 30	Board appointment	Positive	+0.2%	Added experienced community-focused director to Board, replacing a retiring member.
Jul 22	Strong Q2 earnings	Positive	+7.1%	Strong Q2 profit growth, higher net interest margin, and active repurchase capacity.
Jul 07	CFO promotion (bank)	Positive	-2.6%	Promoted Alex Vari to Bank CFO, highlighting internal succession planning.

Pattern Detected

Recent news usually produced modest price moves, with a stronger reaction to Q2 2025 earnings. Positive operational and management updates have sometimes seen selling pressure, indicating occasional divergence between news tone and near-term price action.

Recent Company History

This announcement continues a series of governance and performance updates. In July 2025, strong Q2 earnings with $4.6M net income and a higher net interest margin drove a 7.1% gain. Subsequent board and CFO succession moves in July and September 2025 drew modest reactions. Q3 results and a new $10.0M repurchase program in October 2025 showed continued profitability. Today’s planned CFO retirement fits into that ongoing, orderly succession narrative.

Market Pulse Summary

This announcement outlines an orderly CFO succession, with the long-tenured co-founder retiring from...

Analysis

This announcement outlines an orderly CFO succession, with the long-tenured co-founder retiring from the Company CFO role on December 31, 2025 and remaining in senior positions through December 31, 2027. The transition to the Bank’s CFO, who has already led reporting and investor interactions, builds on earlier succession steps. Investors may watch execution of strategy, credit quality, capital deployment, and future management disclosures for additional context.

Key Terms

financial holding company, russell 2000 index, fdic insurance, cdars, +2 more

6 terms

financial holding company financial

"MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the Financial Holding Company for"

A financial holding company is a parent firm that owns and oversees banks and other financial businesses, such as lending, insurance, or investment services. It matters to investors because it bundles several money-making activities under one roof—like a parent managing several children—so returns, risks, and regulatory rules for banking apply to the whole group; trouble in one unit can affect the company’s profits, capital needs, and dividends.

russell 2000 index technical

"small-cap financial holding company trading in the Nasdaq Capital Market and listed on the Russell 2000 index."

A stock-market benchmark that tracks about 2,000 small-cap U.S. companies, the Russell 2000 gives a snapshot of how smaller publicly traded firms are performing. Investors use it like a thermometer or yardstick for the small-company segment of the market—funds and portfolio managers compare returns to it, and its movements can signal changes in economic risk appetite or growth expectations; it is weighted so larger small companies have a bigger influence on the index.

fdic insurance regulatory

"CDARS and ICS – solutions that provides multi-million-dollar FDIC insurance."

FDIC insurance is a government-backed protection that guarantees bank deposit accounts up to a set dollar limit, so savers get their money back if a covered bank fails. It matters to investors because it lowers the risk of holding cash at insured banks, supports confidence in the banking system (like a safety net under a tightrope), and influences decisions about where to park short-term funds or assess the stability of financial institutions.

cdars financial

"first bank headquartered in the Commonwealth of Virginia to offer CDARS and ICS – solutions"

CDARS (Certificate of Deposit Account Registry Service) is a banking network that splits a large cash deposit into smaller amounts and places them as certificates of deposit at multiple banks so the full balance can stay within federal deposit insurance limits. For investors and cash managers it functions like a money-safety conveyor belt: you keep a single relationship with one bank but gain broader insurance protection and simplified reporting, reducing the risk of uninsured bank exposure.

sba preferred lender financial

"MainStreet Bank is an SBA Preferred Lender, offering 7A and 504 lending solutions."

An SBA Preferred Lender is a bank or other lender that the U.S. Small Business Administration has trusted with extra authority to approve and close SBA-backed loans more quickly than other lenders. For investors, this signals a lender with proven underwriting standards and closer government ties, which can mean faster access to guaranteed lending volumes and potentially steadier fee income or loan growth, much like a trusted contractor getting priority permits for projects.

504 lending financial

"SBA Preferred Lender, offering 7A and 504 lending solutions."

504 lending is a U.S. Small Business Administration-backed loan program that helps small businesses buy major fixed assets like real estate or large equipment by pairing a long-term, low-down-payment loan from a certified lender with a second, smaller loan from a nonprofit development company. For investors, 504 loans matter because they reduce a borrower’s immediate cash burden and lengthen repayment terms, which can support business growth, affect property demand and values, and change a company’s credit and cash-flow profile.

AI-generated analysis. Not financial advice.

Bank CFO to Assume Company CFO Title and Responsibilities

FAIRFAX, Va., Nov. 26, 2025 /PRNewswire/ -- MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the Financial Holding Company for MainStreet Bank, announced that Thomas J. Chmelik will retire as the Chief Financial Officer of MainStreet Bancshares, Inc. on December 31, 2025.  He will continue to serve as the Senior Executive Vice President and Secretary of the Bank and Company through December 31, 2027. 

Mr. Chmelik is a co-founder of MainStreet Bank, which opened in May 2004.  Chmelik is a career banker having served as the CFO of four successful community banks in the Washington, DC market as well as working on a World Bank initiative to restructure the National Bank of Commerce – the largest commercial bank in Tanzania, Africa. 

"Co-founding and building MainStreet Bank has been the highlight of my banking career," said Tom Chmelik. "There were 7,767 bank charters in the beginning of 2004 and that number declined by almost 43% over the past 21 years. There is still a strong need for community banks in this country – as we provide the majority of financing for small businesses. I plan to remain on both the Company and Bank Boards and will stay engaged with the leadership team in a reduced capacity."

"I feel very fortunate to have worked side-by-side with Tom to establish and build MainStreet Bank," said Jeff W. Dick, Chairman & CEO of MainStreet Bancshares, Inc. and MainStreet Bank. "Tom is an unconventional CFO - he's as comfortable behind the desk as he is out in the community sourcing new loan and deposit opportunities for the team. I'm especially proud of the job Tom did in preparing our Bank CFO Alex Vari to assume the role as Company CFO upon his planned retirement."

"I'm excited for the opportunity to step into the Company CFO position," said Alex Vari, CPA, CFO and Executive Vice President of MainStreet Bank. "Tom has given me the opportunity to lead our financial preparation and public disclosures, as well as interact with our investor community over the past several years.  I'm confident that the team will continue to maintain the high standards that Tom established."

BACKGROUND:  MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), is a small-cap financial holding company trading in the Nasdaq Capital Market and listed on the Russell 2000 index. The Company owns 100% of MainStreet Bank, a business-focused community bank headquartered in Fairfax, Virginia. The Bank engages a branch-lite model with six full-service financial centers in Herndon, Fairfax, McLean, Leesburg, Clarendon, and Washington, D.C.  MainStreet Bank has over 55,000 free ATMs and a fully integrated online and mobile banking solution. The Bank is not restricted by a conventional branching system, as it can offer business customers the ability to Put Our Bank in Your Office^®. With easy-to-use online business banking technology, MainStreet has "put our bank" in well over 1,000 businesses in the metropolitan area.

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, offering 7A and 504 lending solutions. 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 Washington, D.C., metropolitan area to offer a full online business banking solution. MainStreet Bank was also the first bank headquartered in the Commonwealth of Virginia to offer CDARS and ICS – solutions that provides multi-million-dollar FDIC insurance. Further information on the Bank can be obtained by visiting its website at mstreetbank.com.

MainStreet Bancshares, Inc. has an investment grade rating of "A" from Egan-Jones Rating Company.

This release may contain 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: Billy Freesmeier
Chief of Staff
Desk (703) 481-4579

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SOURCE MainStreet Bancshares, Inc.

FAQ

When will MainStreet Bancshares (MNSB) CFO Thomas Chmelik retire?

Thomas Chmelik will retire as Company CFO on December 31, 2025.

Who will become Company CFO of MainStreet Bancshares (MNSB) after the retirement?

Bank CFO Alex Vari, CPA will assume the Company CFO position upon Chmelik's retirement.

Will Thomas Chmelik remain with MainStreet Bancshares after his CFO retirement?

Yes. He will continue as Senior Executive Vice President and Secretary through December 31, 2027 and remain on the Company and Bank boards.

What is MainStreet Bancshares' (MNSB) branch and ATM footprint mentioned in the announcement?

The company operates six full-service financial centers and offers access to over 55,000 free ATMs.

Is MainStreet Bancshares (MNSB) publicly listed and on any index?

Yes. MainStreet Bancshares trades on Nasdaq as MNSB and MNSBP and is listed on the Russell 2000 index.