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MainStreet Bancshares Inc (MNSB)
NASDAQ:MNSB
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Earnings Data
Report Date
Jan 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.23Last Year’s EPS
$0.61Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 28, 2024
|% Change Since: 5.09%
|Next Earnings Date:Jan 27, 2025
Earnings Call Sentiment|Neutral
While there are promising developments such as the launch of Avenu and stable core deposit growth, the earnings loss and pressure from problem loans and Avenu-related expenses present significant challenges.Company Guidance
During the Q3 2024 earnings call for MainStreet Bancshares, Inc. (MNSB), the management provided comprehensive guidance on several key metrics and strategic initiatives. The bank reported a loss of $0.04 per common share for the quarter, primarily due to the charge-off of $1.9 million in loans and the addition of $1 million in provision expenses. Despite this, the bank's net interest margin was 3.05% for the quarter and 3.19% year-to-date, with expectations for future expansion as deposit costs decrease. Core deposits represented 78% of total deposits, with $95 million in new core deposits added during the quarter, 35% of which were noninterest-bearing. The bank's noncore deposits are poised for repricing, with 55% adjustable immediately, and $183 million in callable CDs anticipated for strategic replacement. The bank also emphasized its commitment to its Banking-as-a-Service solution, Avenu, which aims to acquire low-cost deposits and has now been launched with Version 1. Additionally, the bank projects low single-digit loan growth in Q4 and a monthly run rate of 50 basis points for noninterest expenses, while continuing to invest in technological advancements. Overall, the call highlighted the bank's strategic focus on cost control, technological investments, and positioning for improved financial performance in future quarters.Launch of Avenu Version 1
Avenu Version 1 was placed in service just prior to the end of the third quarter, aiming to generate low-cost deposits and fee income through Banking-as-a-Service.
Core Deposit Growth
During the third quarter, $95 million in new core deposits were added, with 35% being noninterest-bearing.
Loan Portfolio Stability
The loan portfolio remains strong, with a focus on maintaining disciplined lending and a deep understanding of the local market.
Successful Loan Sales at Par
Three note sales took place at par, highlighting the underlying health of the market and the viability of projects.
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MNSB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MNSB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 28, 2024 | $17.89 | $17.66 | -1.29% |
| Jul 29, 2024 | $17.97 | $17.52 | -2.50% |
| Apr 22, 2024 | $16.93 | $15.32 | -9.51% |
| Jan 22, 2024 | $21.60 | $21.48 | -0.56% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does MainStreet Bancshares Inc (MNSB) report earnings?
MainStreet Bancshares Inc (MNSB) is schdueled to report earning on Jan 27, 2025, TBA Not Confirmed.
What is MainStreet Bancshares Inc (MNSB) earnings time?
MainStreet Bancshares Inc (MNSB) earnings time is at Jan 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MNSB EPS forecast?
MNSB EPS forecast for the fiscal quarter 2024 (Q4) is $0.23.
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