MainStreet Bank Sets Course for Growth with $12.75 Million Capital Raise
Dec 26, 2014
OTC Disclosure News Service
Bank (OTCQB: MNSB) announces a successful $12.75 million capital raise through
the issuance of common stock.
were pleased that the offering was significantly oversubscribed. Investors clearly
understand that the Washington, DC metropolitan area is a great place to do
business and that MainStreet Bank is well positioned in the marketplace. We believe that we have a great opportunity
for growth ahead of us,” said MainStreet Bank Chairman, CEO and President Jeff
additional capital substantially increases the overall lending capacity of the
Bank as it serves small and medium-sized businesses, professionals, and
consumers in the Washington, DC metropolitan area.
Partners LLC, an employee-owned broker/dealer based in Atlanta Georgia,
assisted in raising the new capital from existing shareholders, as well as
local and institutional investors. Greg
Gersack, Managing Principal, and Matthew Veneri, Managing Principal, who both
Co-Head the Investment Banking group at FIG, managed the transaction for FIG
operates five branches in Herndon, Fairfax, Fairfax City, McLean and
Clarendon. In addition, MainStreet has
55,000 free ATMs and an online banking solution called “airbanking®”. 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 robust and easy-to-use online
business banking technology, MainStreet has literally “put
our bank” in well over 750 businesses in the Metropolitan area and across the
Bank was the first community bank in the Washington, DC 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 – a solution that provides FDIC
insurance on deposits up to $55 million.
Further information on the Bank can be obtained by visiting its website
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This release contains
forward-looking statements, including our expectations with respect to future
events that are subject to various risks and uncertainties. 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, maintenance and
development of well-established and valued client relationships and referral
source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are
detailed from time to time in our annual reports. 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.
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