MainStreet Bancshares Q2 profit rises on higher interest margin
MNSB•Outlook
- Company did not provide specific guidance for the current qtr or full yr
Overview
- U.S. community bank's Q2 net income rose 14% from prior quarter, EPS at $0.58
- Net interest margin expanded to 3.53% in Q2
- Company repurchased 207,000 shares, increasing tangible book value
Result drivers
- Net interest margin - Co said net interest margin expanded to 3.53% in Q2
- Loan and deposit growth - Co said lenders booked $78 mln in new loans and business bankers kept pace with deposit growth, resulting in a 100% loan-to-deposit ratio, per President Abdul Hersiburane
- Share repurchases - Co said repurchase of 207,000 shares during the quarter was accretive to tangible book value
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
| Q2 EPS | $0.58 | ||
| Q2 Net Income | $4.67 mln |
