# MainStreet Bancshares, Inc. (MNSB) Informational only - not investment advice. CIK: 0001693577 SIC: 6022 State Commercial Banks SIC breadcrumb: [Finance, Insurance, And Real Estate](/division/H/) > [Depository Institutions](/major-group/60/) > [SIC 6022 State Commercial Banks](/industry/6022/) Latest 10-K filed: 2026-03-13 SEC page: https://www.sec.gov/edgar/browse/?CIK=1693577 Filing source: https://www.sec.gov/Archives/edgar/data/1693577/000143774926008073/main20251231_10k.htm ## At a glance FY2025 · period end 2025-12-31 · filed 2026-03-13 · accession 0001437749-26-008073 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001693577.json | Metric | Value | FY | Provenance | | --- | ---: | ---: | --- | | Revenue | 135,615,000 USD | 2025 | verified | | Net income | 15,613,000 USD | 2025 | verified | | Assets | 2,212,669,000 USD | 2025 | verified | | Free cash flow | 10,637,000 USD | 2025 | computed | | Net margin | 11.51% | 2025 | computed | | Revenue YoY | -1.63% | 2025 | computed | | ROE | 7.14% | 2025 | computed | Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity. No market price, no rating, no forecast on this site. Not investment advice. ### Peer percentile fingerprint | Ratio | MNSB | Peer median | Percentile | N | | --- | ---: | ---: | ---: | ---: | | Net margin | 11.5% | 21.9% | 11 | 149 | | Revenue growth | -1.6% | 6.0% | 15 | 148 | | FCF margin | 7.8% | 23.8% | 9 | 133 | | ROE | 7.1% | 9.6% | 24 | 149 | | ROA | 0.7% | 1.1% | 15 | 149 | | Liabilities / equity | 9.12 | 8.04 | 74 | 149 | Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 6022 State Commercial Banks, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking. ## Selected Fundamentals | Metric | Value | Unit | FY | Filed | | --- | ---: | --- | ---: | --- | | Revenue | 135615000 | USD | 2025 | 2026-03-13 | | Net income | 15613000 | USD | 2025 | 2026-03-13 | | Assets | 2212669000 | USD | 2025 | 2026-03-13 | ## Financials Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-13. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001693577.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts. | Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | | | | | | 88,679,000 | 127,761,000 | 137,867,000 | 135,615,000 | | Net income | | 9,209,000 | 13,950,000 | 15,717,000 | 22,171,000 | 26,674,000 | 26,585,000 | -9,980,000 | 15,613,000 | | Gross profit | | | | | | 75,310,000 | 80,082,000 | 65,826,000 | 73,572,000 | | Diluted EPS | | 1.38 | 1.69 | 1.85 | 2.65 | 3.26 | 3.25 | -1.60 | 1.76 | | Operating cash flow | | 12,591,000 | 16,692,000 | 17,016,000 | 29,124,000 | 33,544,000 | 31,633,000 | 14,740,000 | 14,811,000 | | Capital expenditures | | 1,375,000 | 990,000 | 1,282,000 | 1,806,000 | 1,125,000 | 497,000 | 909,000 | 4,174,000 | | Dividends paid | | | | | 0.00 | 1,882,000 | 3,011,000 | 3,046,000 | 3,050,000 | | Share buybacks | | | | 13,797,000 | 0.00 | 6,918,000 | 43,000 | 732,000 | 4,336,000 | | Assets | | 1,100,613,000 | 1,277,358,000 | 1,643,165,000 | 1,647,402,000 | 1,878,197,000 | 2,035,432,000 | 2,228,098,000 | 2,212,669,000 | | Liabilities | | 979,362,000 | 1,140,324,000 | 1,475,500,000 | 1,458,614,000 | 1,727,469,000 | 1,813,915,000 | 2,020,107,000 | 1,994,078,000 | | Stockholders' equity | 68,801,000 | 121,251,000 | 137,034,000 | 167,665,000 | 188,788,000 | 198,282,000 | 221,517,000 | 207,991,000 | 218,591,000 | | Free cash flow | | 11,216,000 | 15,702,000 | 15,734,000 | 27,318,000 | 32,419,000 | 31,136,000 | 13,831,000 | 10,637,000 | ### Ratios ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported. | Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Net margin | | | | | | 30.08% | 20.81% | -7.24% | 11.51% | | Return on equity | | 7.59% | 10.18% | 9.37% | 11.74% | 13.45% | 12.00% | -4.80% | 7.14% | | Return on assets | | 0.84% | 1.09% | 0.96% | 1.35% | 1.42% | 1.31% | -0.45% | 0.71% | | Liabilities / equity | | 8.08 | 8.32 | 8.80 | 7.73 | 8.71 | 8.19 | 9.71 | 9.12 | ## As-reported value updates 2 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period. Ledger: /company/MNSB/revisions/ ## Quarterly Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-07. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001693577.json. Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived. | Quarter | End date | Revenue | Net income | Diluted EPS | Method | | --- | --- | ---: | ---: | ---: | --- | | 2022-Q3 | 2022-09-30 | | | 0.97 | reported discrete quarter | | 2023-Q1 | 2023-03-31 | | | 1.01 | reported discrete quarter | | 2023-Q2 | 2023-06-30 | | | 0.85 | reported discrete quarter | | 2023-Q3 | 2023-09-30 | 31,694,000 | 6,341,000 | 0.77 | reported discrete quarter | | 2023-Q4 | 2023-12-31 | 33,078,000 | 5,147,000 | | derived Q4 = FY annual - nine-month YTD | | 2024-Q1 | 2024-03-31 | 32,374,000 | 3,305,000 | 0.36 | reported discrete quarter | | 2024-Q2 | 2024-06-30 | 33,327,000 | 2,618,000 | 0.27 | reported discrete quarter | | 2024-Q3 | 2024-09-30 | 33,591,000 | 265,000 | -0.04 | reported discrete quarter | | 2024-Q4 | 2024-12-31 | 35,119,000 | -16,167,000 | | derived Q4 = FY annual - nine-month YTD | | 2025-Q1 | 2025-03-31 | 32,963,000 | 2,453,000 | 0.25 | reported discrete quarter | | 2025-Q2 | 2025-06-30 | 34,286,000 | 4,590,000 | 0.53 | reported discrete quarter | | 2025-Q3 | 2025-09-30 | 32,464,000 | 4,517,000 | 0.52 | reported discrete quarter | | 2025-Q4 | 2025-12-31 | 31,875,000 | 4,053,000 | | derived Q4 = FY annual - nine-month YTD | | 2026-Q1 | 2026-03-31 | 31,218,000 | 4,100,000 | 0.48 | reported discrete quarter | | 2026-Q2 | 2026-06-30 | 32,090,000 | 4,668,000 | 0.58 | reported discrete quarter | ## Filed narrative (10-K & 10-Q) ## Business Verbatim Item 1 Business section from MNSB's latest 10-K: [/company/MNSB/business/](/company/MNSB/business/). ## Risk Factors Verbatim Item 1A Risk Factors from MNSB's latest 10-K: [/company/MNSB/risk-factors/](/company/MNSB/risk-factors/). ## Latest quarter (10-Q) Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1693577/000143774926026460/main20260630_10q.htm Extracted structurally from real Item 2 body heading to real Item 3/4 boundary. Confidence: high Filing date: 2026-08-07 Report date: 2026-06-30 Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations The following discussion and analysis is intended as a review of significant factors affecting the Company’s consolidated financial condition and results of operations for the periods indicated. This discussion and analysis should be read in conjunction with the accompanying consolidated financial statements and the related notes and the Company’s Annual Report on Form 10-K, which contains audited consolidated financial statements of the Company as of and for the year ended December 31, 2025, previously filed with the SEC on March 13, 2026. Results for the three and six months ended June 30, 2026 are not necessarily indicative of results for the year ending December 31, 2026 or any future period. Forward-Looking Statements This Quarterly Report on Form 10-Q contains certain forward-looking statements and information relating to the Company within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on the beliefs of management as well as assumptions made by and information currently available to management. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “should,” “could,” or “may” and similar expressions or the negative thereof. Important factors that could cause actual results to differ materially from those in the forward–looking statements included herein include, but are not limited to: [[GREPCENT_TABLE]] [["","\u25cf","general economic conditions, either nationally or in our market area, that are different than expected;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","competition among depository and other financial institutions, particularly intensified competition for deposits;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","inflation and an interest rate environment that may reduce our margins or reduce the fair value of certain of our financial instruments;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in the securities markets;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory structure and in regulatory fees and capital requirements;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the impact of significant changes in accounting procedures or requirements on our financial condition or results of operations;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to enter new markets successfully and capitalize on growth opportunities;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to successfully integrate acquired and newly organized entities;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in consumer spending, borrowing and savings habits;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in accounting policies and practices;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in our organization, compensation and benefit plans;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","our ability to attract and retain key employees;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in our financial condition or results of operations that reduce capital;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","changes in the financial condition or future prospects of issuers of securities that we own;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the concentration of our business in the Northern Virginia and greater Washington, DC metropolitan area and the effect of changes in the economic, political and environmental conditions on those markets;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","adequacy of or increases in the allowance for credit losses;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","cyber threats, attacks or other data security events;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","fraud or misconduct by internal or external parties;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","reliance on third parties for key services;"]] [[/GREPCENT_TABLE]] 29 [[GREPCENT_TABLE]] [["","\u25cf","changes in our asset quality, including changes in loan delinquencies, problem assets and foreclosures;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","future performance of our loan portfolio with respect to recently originated loans;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","additional risks related to new lines of business, products, product enhancements or services;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","results of examination of us by our regulators, including the possibility that our regulators may require us to change our allowance for credit losses or to adjust assets or take other supervisory action;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","the effectiveness of our internal controls over financial reporting and our ability to remediate any future material change in our internal controls over financial reporting;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","liquidity, interest rate and operational risks associated with our business;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","implications of our status as a smaller reporting company;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u25cf","a work disruption, forced quarantine, or other interruption or the unavailability of key employees;"],["","\u25cf","volatility in the financial institution industry and actions by regulatory authorities in response thereto;"],["","\u25cf","litigation or governmental actions;"],["","\u25cf","change in a material asset;"],["","\u25cf","federal layoffs and shut downs, and potential government contract terminations or non-renewals;"],["","\u25cf","possible income tax and accounting effects of recently enacted legislation; and"],["","\u25cf","\"Risk Factors\" and other information included in our Annual Report on Form 10-K for the year ended December 31, 2025 and this Quarterly Report on Form 10-Q."]] [[/GREPCENT_TABLE]] Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. We caution readers not to place undue reliance on forward-looking statements. The Company disclaims any obligation to revise or update any forward-looking statements contained in this Form 10-Q to reflect future events or developments. Overview As used herein, the “Company,” “we,” “our,” and “us” refer to MainStreet Bancshares, Inc. and its subsidiaries, and the “Bank” refers to MainStreet Bank. MainStreet Bancshares, Inc. MainStreet Bancshares, Inc. is a financial holding company that owns 100% of MainStreet Bank and MainStreet Community Capital, LLC.  The Company and its subsidiaries are incorporated in and chartered by the Commonwealth of Virginia. The Company’s executive offices are located at 10089 Fairfax Boulevard, Fairfax, Virginia. Our telephone number is (703) 481-4567, and our internet address is www.mstreetbank.com. The information contained on our website shall not be considered part of this Quarterly Report on Form 10-Q, and the reference to our website does not constitute incorporation by reference of the information contained on the website. 30 MainStreet Bank MainStreet Bank is a community commercial bank incorporated in and chartered by the Commonwealth of Virginia. The Bank is a member of the Federal Reserve Bank of Richmond, and its deposits are insured by the FDIC. The Bank opened for business on May 26, 2004, and is headquartered in Fairfax, Virginia. We currently operate seven Bank branches; located in Herndon, Fairfax, McLean, Clarendon, Leesburg, and Middleburg in Virginia, and one in Washington D.C. The Bank has one subsidiary, a limited liability company, that it uses to hold real estate acquired through foreclosure.  We emphasize providing responsive and personalized services to our clients. Due to the consolidation of financial institutions in our primary market area, we believe there is a significant opportunity for a local bank to provide a full range of financial services. By offering highly professional, personalized banking products and service delivery methods and employing advanced banking technologies, we seek to distinguish ourselves from larger, regional banks operating in our market area and believe we are able to compete effectively with other community banks. We believe we have a solid franchise that meets the financial needs of our clients and communities by providing an array of personalized products and services delivered by seasoned banking professionals with decisions made at the local level. We believe a significant customer base in our market prefers to do business with a local institution that has a local management team, a local Board of Directors and local founders and that this customer base may not be satisfied with the responsiveness of larger regional banks. By providing quality services, coupled with the opportunities provided by the economies in our market area, we have generated and expect to continue to generate organic growth. We service Northern Virginia as well as the greater Washington, D.C. metropolitan area. Our goal is to deliver a customized and targeted mix of products and services that meets or exceeds customer expectations. To accomplish this goal, we have deployed a premium operating system that gives customers access to up-to-date banking technology. These systems and our highly skilled staff have allowed us to compete with larger financial institutions. The combination of sophisticated technology and personal service sets us apart from our competition. We strive to be the leading community bank in our market. The Company's business is focused on core banking where we offer a full range of banking services to individuals, small to medium-sized businesses, and professionals through both traditional and electronic delivery.  We were the first community bank in the Washington, D.C. metropolitan area to offer a full online business banking solution, including remote check scanners on a business customer’s desktop. We offer mobile banking apps for iPhones, iPads and Android devices that provide for remote deposit of checks. In addition, we were the first bank headquartered in the Commonwealth of Virginia to offer CDARS, the Certificate of Deposit Account Registry Service. We offer our customers a suite of reciprocal deposit options through placement services that offer additional FDIC insurance on deposits. We believe that enhanced electronic delivery systems and technology increase profitability through greater productivity and cost control and allow us to offer new and better products and services. Our products and services include: business and consumer checking, premium interest-bearing checking, business account analysis, savings, certificates of deposit and other depository services, as well as a broad array of commercial, real estate and consumer loans. Internet account access is available for all personal and business accounts, internet bill payment services are available on most accounts, and a robust online cash management system is available for business customers. MainStreet Community Capital, LLC In September 2021, the Company created a community development entity (“CDE”) subsidiary, MainStreet Community Capital, LLC, a Virginia limited liability company, to apply for New Market Tax Credit (“NMTC”) allocations from the U.S. Department of Treasury’s Community Development Financial Institutions Fund. To promote development in economical [Excerpt truncated for page length; source filing is linked above.] ## Latest 10-K MD&A (excerpt) Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1693577/000143774926008073/main20251231_10k.htm Complete FY 2025 MD&A: /company/MNSB/mda/fy2025/ Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Confidence: high Filing date: 2026-03-13 Report date: 2025-12-31 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations The purpose of this discussion is to focus on significant changes in the financial condition and results of operations of the Company during the years ended December 31, 2025 and 2024. The following discussion supplements and provides information about the major components of the results of operations, financial condition, liquidity and capital resources of the Company. This discussion and analysis should be read in conjunction with the accompanying consolidated financial statements. 33 Forward-Looking Statements This Annual Report on Form 10-K contains certain forward-looking statements and information relating to the Company within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on the beliefs of management as well as assumptions made by and information currently available to management. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “should,” “could,” or “may” and similar expressions or the negative thereof. Important factors that could cause actual results to differ materially from those in the forward–looking statements included herein include, but are not limited to: [[GREPCENT_TABLE]] [["","\u2022","general economic conditions, either nationally or in our market area, that are worse than expected;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","competition among depository and other financial institutions, particularly intensified competition for deposits;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","inflation and an interest rate environment that may reduce our margins or reduce the fair value of financial instruments;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","adverse changes in the securities markets;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","changes in laws or government regulations or policies affecting financial institutions, including changes in regulatory structure and in regulatory fees and capital requirements;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","our ability to enter new markets successfully and capitalize on growth opportunities;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","our ability to successfully integrate acquired entities;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","changes in consumer spending, borrowing and savings habits;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","changes in accounting policies and practices;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","changes in our organization, compensation and benefit plans;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","our ability to attract and retain key employees;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","changes in our financial condition or results of operations that reduce capital;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","changes in the financial condition or future prospects of issuers of securities that we own;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","the concentration of our business in the Northern Virginia as well as the greater Washington, DC metropolitan area and the effect of changes in the economic, political and environmental conditions on this market;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","adequacy of our allowance for credit losses;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","deterioration of our asset quality;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","cyber threats, attacks or events;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","reliance on third parties for key services;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","future performance of our loan portfolio with respect to recently originated loans;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","additional risks related to new lines of business, products, product enhancements or services;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","results of examination of us by our regulators, including the possibility that our regulators may require us to increase our allowance for credit losses or to write-down assets or take other supervisory action;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","the effectiveness of our internal controls over financial reporting and our ability to remediate any future material weakness in our internal controls over financial reporting;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","liquidity, interest rate and operational risks associated with our business;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","a work stoppage, forced quarantine, or other interruption or the unavailability of key employees;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","volatility in the financial institution industry, including failures and/or rumors of possible failures of other financial institutions and actions by regulatory authorities in response thereto;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","litigation or governmental actions;"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","impairment of a material asset; and"]] [[/GREPCENT_TABLE]] [[GREPCENT_TABLE]] [["","\u2022","other factors beyond our knowledge or control."]] [[/GREPCENT_TABLE]] 34 Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. We caution readers not to place undue reliance on forward-looking statements. The Company disclaims any obligation to revise or update any forward-looking statements contained in this Form 10-K to reflect future events or developments. Additional information on risk factors that may affect forward-looking statements is included under “Risk Factors” in this Form 10-K. Critical Accounting Policies The discussion of the critical accounting policies and analysis set forth below is intended to supplement and highlight information contained in the accompanying Consolidated Financial Statements and the selected financial data presented elsewhere in this Form 10-K. The accounting and financial reporting policies of the Company conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Accordingly, the financial statements require certain estimates, judgments, and assumptions, which are believed to be reasonable, based upon the information available. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the periods presented. Critical accounting policies comprise those that management believes are the most critical to aid in fully understanding and evaluating our reported financial results. These policies require numerous estimates or economic assumptions that may prove inaccurate or may be subject to variations which may significantly affect our reported results and financial condition for the current period or in future periods. The Company’s critical accounting policy relates to the allowance for credit losses. This critical accounting policy requires the use of estimates, assumptions and judgments which are based on information available as of the date of the financial statements. Accordingly, as this information changes, future financial statements could reflect the use of different estimates, assumptions and judgments. Certain determinations inherently have a greater reliance on the use of estimates, assumptions and judgments and, as such, have a greater possibility of producing results that could be materially different than originally reported. Allowance for Credit Losses: On January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (ASC 326). This standard replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. CECL requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend credit. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. The determination of the appropriate level of the ACL on loans inherently involves a high degree of subjectivity and requires the Company to make significant judgments concerning credit risks and trends using quantitative and qualitative information, as well as reasonable and supportable forecasts of future economic conditions, all of which may undergo frequent and significant changes. Changes in conditions, including unforeseen events, changes in asset-specific risk characteristics, and other economic factors, both within and outside the Company’s control, may indicate the need for an increase or decrease in the ACL on loans. While management makes every effort to utilize the best information available in making its assessment of the ACL estimate, the estimation process is inherently challenging as potential changes in any one factor or input may occur at different rates and/or impact pools of loans in different ways. Further, changes in factors and inputs may also be directionally inconsistent, such that improvement in one factor may offset deterioration in others. See Note 1. Organization, Basis of Presentation, and Impact of Recently Issued Accounting Pronouncements for a more detailed description of methodology and impact of adoption. 35 Selected Financial Data The following table sets forth summarized historical consolidated financial information for each of the periods indicated. This information should be read together with the accompanying consolidated financial statements included in this Form 10-K. The historical information indicated as of December 31, 2025 and 2024 and for the years ended December 31, 2025, 2024, and 2023, has been derived from the Company's audited consolidated financial statements for the years ended December 31, 2025, 2024, and 2023. Historical results set forth below and elsewhere in this Form 10-K are not necessarily indicative of future performance. [[GREPCENT_TABLE]] [["","","At December 31,"],["","","2025","","","2024"],["","","(In thousands)"],["Selected Financial Condition Data:"],["Total assets","","$","2,212,669","","","$","2,228,098"],["Total cash and cash equivalents","","","162,756","","","","207,708"],["Total investment securities","","","71,752","","","","71,825"],["Loans receivable, net","","","1,841,833","","","","1,810,556"],["Bank owned life insurance","","","40,752","","","","39,507"],["Premises and equipment, net, including property held for sale at fair value","","","16,336","","","","13,287"],["Total deposits","","","1,899,184","","","","1,907,794"],["Subordinated debt, net","","","69,936","","","","73,039"],["Total stockholders\u2019 equity","","","218,591","","","","207,991"]] [[/GREPCENT_TABLE]] 36 [Excerpt truncated for page length; the complete text is on the linked full-MD&A page.] Read the full FY 2025 MD&A: /company/MNSB/mda/fy2025/ All MD&A years: /company/MNSB/mda/ ## MD&A history Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page. - [FY 2024 MD&A](/company/MNSB/mda/fy2024/): filed 2025-03-14; accession 0001437749-25-007641 (https://www.sec.gov/Archives/edgar/data/1693577/000143774925007641/main20241231_10k.htm) - [FY 2023 MD&A](/company/MNSB/mda/fy2023/): filed 2024-03-20; accession 0001437749-24-008676 (https://www.sec.gov/Archives/edgar/data/1693577/000143774924008676/main20231231_10k.htm) - [FY 2022 MD&A](/company/MNSB/mda/fy2022/): filed 2023-03-23; accession 0001437749-23-007608 (https://www.sec.gov/Archives/edgar/data/1693577/000143774923007608/main20221231_10k.htm) - [FY 2021 MD&A](/company/MNSB/mda/fy2021/): filed 2022-03-23; accession 0001564590-22-011471 (https://www.sec.gov/Archives/edgar/data/1693577/000156459022011471/mnsb-10k_20211231.htm) ## Macro cross-references Indicators mapped to this company's SIC classification (industry 6022 State Commercial Banks) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim. - [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate - [DFEDTARU](/indicator/DFEDTARU/): Federal Funds Target Range - Upper Limit - [DGS2](/indicator/DGS2/): Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity - [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity - [T10Y2Y](/indicator/T10Y2Y/): 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity Macro-to-micro threads including this sector: [Interest rates & the Fed](/thread/interest-rates-fed/), [Money & trade](/thread/money-trade/), [Consumer & credit](/thread/consumer-credit/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/). All macro indicators: /indicators/ ## For LLMs & downloads Markdown twin: /company/MNSB.md · JSON record: /company/MNSB.json · verified financials: /company/MNSB/financials.json / /company/MNSB/financials.csv · machine TOC for the whole site: /llms.txt