MainStreet Bank promotes Alex Vari to chief financial officer

FAIRFAX, Va. - MainStreet Bancshares, Inc. (NASDAQ:MNSB), a $152.34 million market cap financial institution, announced Monday the promotion of Alex Vari to Executive Vice President and Chief Financial Officer of MainStreet Bank.

Vari, a Certified Public Accountant with a Bachelor of Accountancy from the University of North Dakota, will take on the CFO role at the bank level while Tom Chmelik will continue serving as CFO of the holding company.

According to the company’s statement, Vari has been instrumental in ensuring accurate financial and SEC reporting. He recently led the implementation of the company’s Sarbanes-Oxley internal control framework as the organization transitioned away from its status as an emerging growth company.

"I’m excited to step into my new role," Vari said in the press release. "My time working closely with Tom has given me a deep appreciation for the financial foundation and talented team we have here."

MainStreet Bank operates six branches across Virginia and Washington, D.C., offering business and professional lending products, including government contracting lines of credit, commercial loans, and construction financing. The bank also provides SBA 7A and 504 lending solutions.

The financial institution was the first community bank in the Washington, D.C. metropolitan area to offer a full online business banking solution, according to the company’s announcement.

MainStreet Bancshares trades on the Nasdaq under the symbols MNSB and MNSBP.

In other recent news, MainStreet Bancshares announced a cash dividend of $0.10 per share for its common stockholders, scheduled for payment on May 20, 2025. This decision follows the company’s regular review of its financial condition and operational results. Investors should note the record date for this dividend is set for May 9, 2025. Additionally, MainStreet Bancshares has scheduled a virtual webcast and quarterly earnings conference call for April 21, 2025, to discuss its first-quarter results and provide updates on recent activities. The conference call will be accessible to interested parties, offering insights into the company’s financial performance and key operational developments since the start of the year. These recent developments are part of the company’s ongoing communication with investors and the financial community. MainStreet Bancshares is committed to maintaining transparency and keeping shareholders informed about its financial health and strategic direction.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.