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MainStreet Bancshares, Inc. (NASDAQ:MNSB) announced that its Board of Directors has authorized a new stock repurchase program to repurchase up to $10 million of the company’s outstanding common stock. The new program, approved on Thursday, will replace and supersede the company’s previous repurchase program that was originally announced on May 19, 2022.
According to the company’s statement in a recent SEC filing, the timing, number, and purchase price of shares repurchased under the new program will be determined by management at its discretion. The company indicated that these decisions will depend on factors such as the market price of the shares, general market and economic conditions, legal requirements, and other considerations. There is no assurance that any shares will be repurchased under the program.
Repurchases may occur from time to time on the open market, in privately negotiated transactions, or through other methods permitted by law and regulation. MainStreet Bancshares expects the new repurchase program to extend over an 18-month period, or until the $10 million limit is reached. The company also stated that the program may be extended, modified, suspended, or discontinued at any time. According to InvestingPro, which provides comprehensive analysis of over 1,400 US stocks, MainStreet Bancshares shows signs of being oversold, with analysts expecting improved profitability this year.
MainStreet Bancshares’ common stock trades on the Nasdaq Stock Market under the ticker symbol MNSB. The company also has depositary shares representing interests in its Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, trading under the symbol MNSBP.
This information is based on a statement from the company’s recent filing with the Securities and Exchange Commission.
In other recent news, MainStreet Bancshares reported strong second-quarter financial results for 2025, with earnings per share reaching $0.53, surpassing analysts’ expectations of $0.44. The company also exceeded revenue projections, posting $19.86 million compared to the anticipated $18.9 million. MainStreet Bancshares has scheduled its third-quarter earnings call for October 27, 2025, where it will discuss these results further.
Additionally, the company announced the appointment of Wendy Adeler Hall to its board of directors, effective October 16, 2025. Hall brings over 30 years of experience in business development and marketing, filling a position vacated in 2024. MainStreet Bancshares also entered into a new employment agreement with Richard A. Vari, its Chief Financial Officer, with a term extending through December 31, 2026.
This agreement includes an annual base salary of $270,400 and eligibility for bonuses and equity awards. These recent developments highlight MainStreet Bancshares’ focus on strengthening its leadership and financial performance.
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