2023 Overview
General Bank Information
MainStreet Bank is an FDIC insured institution located in Fairfax, VA. It was founded in 2004 and has approximately $1.79 billion in assets. Customers can open an account at one of its 5 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 57742 |
| Date Established | 2004 |
| Assets | $ 1,794.24 million |
| Loans | $ 1,448.07 million |
| Deposits | $ 1,572.38 million |
| Capital | $ 243.91 million |
For a more detailed analysis of MainStreet Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - March 23, 2023
Your Current Location: Virginia, VA 20146
| Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
|
|
0.75% | $1 | $15,000 |
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|
|
Money Market
|
0.10% | $1 | $24,999 |
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|
Money Market
|
0.20% | $25,000 | $49,999 |
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|
| CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.75% | $500 | - |
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| 12 Mo CD
|
0.80% | $500 | - |
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| 24 Mo CD
|
0.80% | $500 | - |
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| 36 Mo CD
|
0.80% | $500 | - |
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| 48 Mo CD
|
0.95% | $500 | - |
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| 60 Mo CD
|
1.05% | $500 | - |
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Online Only Savings Rates of AirBanking
| Online Savings Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Airsavings
|
0.25% | $1,000 | - |
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Online Only CD Rates of AirBanking
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 12-Month Online CD
|
0.30% | $500 | - |
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| 24 Month Online CD
|
0.40% | $500 | - |
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| 48 Month Online CD
|
0.50% | $500 | - |
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| 60-Month Online CD
|
0.50% | $500 | - |
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|
Bank Online Offers
Loan Rates - March 23, 2023
Your Current Location: Virginia, VA 20146
There are currently no loan rates available for MainStreet Bank
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Virginia 30 Year Fixed Mortgage Rates 2023
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: 3030 |
6.770% |
6.625% 1.00 points $3,750 fees |
$1,601 | Learn More |
NMLS ID: 1907 |
6.176% |
5.990% 1.00 points $5,000 fees |
$1,498 | Learn More |
NMLS ID: 3030 |
6.632% |
6.500% 0.88 points $3,438 fees |
$1,581 | Learn More |
NMLS ID: 1429243 |
5.831% |
5.750% 0.88 points $2,198 fees |
$1,459 | Learn More |
Featured - Virginia Home Equity Line Of Credit Rates 2023
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Bethpage Federal Credit Union See Table |
Intro APR
7.240 %
After Intro: 8.250 % Intro Period: 12 months |
$25,000 |
Learn More
More Info |
Third Federal Savings and Loan See Table |
6.740 %
|
$0 |
Learn More
More Info |
Note to MainStreet Bank
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Branches
MainStreet Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Ashburn,Virginia
Climate Initiatives
MainStreet Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
Financial Details
MainStreet Bank Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of MainStreet Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| MainStreet Bank | U.S. Bank Average |
|---|---|
| 0.09% | 8.03% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of September 30, 2022, MainStreet Bank had $228,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $243,910,000 in equity and $12,994,000 in loans loss reserves. That gives it a Texas Ratio of 0.09%.
Return on Equity
| MainStreet Bank | U.S. Bank Average |
|---|---|
| 10.72% | 10.00% |
MainStreet Bank has a Return on Equity of 10.72% versus the BestCashCow average of 10.00%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| MainStreet Bank | U.S. Bank Average |
|---|---|
| 13.59% | 9.96% |
MainStreet Bank has a Capitalization of 13.59% versus the BestCashCow average of 9.96. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
MainStreet Bank Balance Sheet Analysis
As of September 30, 2022, MainStreet Bank had assets of $1,794,239,000, loans of $1,448,072,000, and deposits of $1,572,377,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
September 30, 2022| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 104.73 million |
| Interest-bearing balances | $ 86.74 million |
| Total securities | $ 176.99 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 1,448.07 million |
| Loan loss allowance | $ 12.99 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | N.A. |
| All other assets | $ 95.14 million |
| Total Assets | $ 1,615.90 million |
| LIABILITIES | |
|---|---|
| Total deposits | $ 1,572.38 million |
| Interest-bearing deposits | $ 990.56 million |
| Deposits held in domestic offices | $ 1,572.38 million |
| % insured (estimated) | 46.16% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | N.A. |
| Subordinated debt | N.A. |
| All other liabilities | $ 34.06 million |
| Total Liabilities | $ 1,615.90 million |
| Shareholders’ Equity | $ 178.34 million |
Summary Income Statement
September 30, 2022| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 58.18 million |
| Total Interest Expense | $ 6.55 million |
| Net interest income | $ 51.63 million |
| Provision for loan and lease losses | $ 1.28 million |
| Total non interest income | $ 3.66 million |
| Total non interest expense | $ 28.35 million |
| Pre-tax Net Operating Income | $ 15.29 million |
Bank Loan Profile?
The top three loan types in MainStreet Bank’s loan portfolio are Commercial Real Estate, Construction and Development Loans, and Multifamily Mortgages.
Compared to other banks in Virginia, MainStreet Bank has a significantly higher percent of Multifamily Mortgages, Construction and Development Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 11.43 | ✓ | ||
| Multifamily Mortgages |
13.88 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 0.97 | ✓ | ||
| Small Business Loans | 4.50 | ✓ | ||
| Construction and Development Loans | 24.73 | ✓ | ||
| Commercial Real Estate | 41.77 | ✓ | ||
| Commercial and Industrial Loans | 6.05 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
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