MainStreet Bancshares appoints Wendy Adeler Hall to board of directors

MainStreet Bancshares, Inc. (NASDAQ:MNSB) announced Wednesday the appointment of Wendy Adeler Hall to its board of directors and the board of MainStreet Bank. The decision was made by the boards on September 18, with her appointment taking effect October 16. Hall will fill the position previously vacated by Elizabeth Bennett in 2024 and will be up for election in 2026. The regional bank, with a market capitalization of approximately $157 million, has shown resilience despite recent challenges, with InvestingPro analysts projecting positive net income growth for the current year.

According to the press release statement, Hall, age 55, has more than 30 years of experience in business development, marketing, and philanthropy within the jewelry industry. She joined Adeler Jewelers in 1997 as vice president of marketing and philanthropy and later focused on business development, contributing to the company’s growth and national visibility. Hall holds a degree from George Mason University and has served on the Advisory Board of CharityWorks and co-chaired galas for the Brain & Behavior Research Foundation.

The board has appointed Hall to the Nominating and Compensation Committee. The company determined she qualifies as an independent director under Nasdaq listing standards and the company’s corporate governance guidelines.

Hall will be eligible to receive compensation for her board service consistent with that provided to all non-employee directors, as detailed in the company’s proxy statement filed on May 21, 2025. The company stated there are no arrangements or understandings between Hall and any other person regarding her appointment, and no transactions involving Hall or her immediate family that would represent a material interest.

MainStreet Bancshares’ common stock and depositary shares are listed on the Nasdaq Stock Market under the symbols MNSB and MNSBP, respectively. This information is based on a statement from the company’s filing with the Securities and Exchange Commission.

In other recent news, MainStreet Bank reported impressive financial results for the second quarter of 2025, with earnings per share (EPS) reaching $0.53, surpassing analysts’ expectations of $0.44. The company’s revenue also exceeded forecasts, coming in at $19.86 million compared to the anticipated $18.9 million. In addition to its earnings announcement, MainStreet Bancshares, Inc. has entered into a new employment agreement with Richard A. Vari, the Chief Financial Officer of MainStreet Bank. This agreement, which began on July 1, 2025, will extend through December 31, 2026. Under the terms, Mr. Vari will receive an annual base salary of $270,400 and will be eligible for bonus and equity awards. The agreement also includes participation in the bank’s health and disability plans and group term insurance policy. These developments highlight MainStreet’s continued focus on strong financial performance and strategic leadership agreements.

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