Employee-directed Giving Program, Making
Change, Lends a Helping Hand to Local Schools
FAIRFAX,
Va., Dec. 11, 2024 /PRNewswire/ -- This holiday
season, MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the
financial holding company for MainStreet Bank, is investing in the
future of our community by giving a boost to local schools,
scholarships, and education programs. Through corporate giving and
employee engagement, the bank is making a difference for learners
of all ages.
"These donations are just one example of
MainStreet Bank's commitment to investing in the communities we
serve."
More than one-quarter (27%) of all donations from the bank's
employee-directed giving program, Making Change, have gone to local
schools and education programs. Additionally, MainStreet Bank
recently hosted a company-wide back-to-school backpack drive in
partnership with Cornerstones, ensuring Fairfax County students in need had the tools
to succeed.
Launched in 2023, Making Change empowers every full-time
employee to direct $1,000 to a cause
they care about. This innovative approach allows smaller
organizations to receive crucial support, especially during the
holiday season.
"Making Change puts the power of philanthropy directly in our
employees' hands," said Jeff W.
Dick, Chairman and CEO of MainStreet Bancshares, Inc., and
MainStreet Bank. "These donations are just one example of
MainStreet Bank's commitment to investing in the communities we
serve. By empowering our employees to support local causes they
care about, we can make a real difference in the lives of our
neighbors and build a stronger future for everyone."
The program has already made a significant impact since its
inception in March 2023:
- Making Change has donated over $75,000 to local schools and education
programs, funding everything from classroom supplies to science
equipment.
- MainStreet Bank employees honored the memory of a colleague's
son with cumulative scholarship donations totaling $32,000 to the Prince William County Public Schools Education
Foundation — the largest gift made through the Making Change
program. The scholarship, awarded annually to a graduating senior
from Osbourn Park High School, was
increased from $3,000 to $5,000 thanks to the donation, ensuring its
sustainability.
- Inspired by a team of Fairfax High
School students who created a financial literacy program for
younger children, MainStreet Bank employees pooled their resources
to donate $7,500 through the
Making Change program. This donation enabled the students, members
of their school's DECA chapter, to travel to Anaheim, California, and compete at DECA's
international competition for emerging leaders and
entrepreneurs.
- Recognizing the importance of adult education, employees also
directed $3,000 to the English
Empowerment Center and $1,000
to the Montgomery Coalition for Adult English Literacy. These
programs provide vital English language skills, helping immigrants
thrive in their communities and the job market.
"Education is critical, yet many schools struggle to fund those
'extras' that enrich the learning experience. That's why so many of
our team members choose to support schools," says Trish Smith, Chief Human Resources Officer of
the $2.2 billion-asset bank. "Making
Change empowers them to make a difference, giving back where it
matters most."
In addition to those already mentioned, other local public and
private schools and educational programs that have received Making
Change donations include:
Alexandria City
- Cora Kelly Elementary School
Fairfax County
- Asian Educators Association
- Barber Family Foundation
- Centreville Elementary School
- C.G. Woodson High School
- Fairfax Villa Elementary School
- Hands Christian Daycare
- Lutie Lewis Coates Elementary School
- Robinson Secondary School
- St. Timothy Catholic School
Fauquier County
- M.M. Pierce Elementary School
Jefferson County, WV
- C.W. Shipley Elementary School
Loudoun County
- Cornerstone Christian Academy
- Countryside Elementary School
- Frances Hazel Reid Elementary School
- Goshen Post Elementary School
- Hearts for the Lord Academy
- Legacy Elementary School
- Mercer Middle School
Prince William County
BACKGROUND: MainStreet Bancshares, Inc. (Nasdaq:
MNSB & MNSBP), is a small-cap financial holding company trading
in the Nasdaq Capital Market index. The financial holding company
owns 100% of MainStreet Bank, a business-focused community bank
headquartered in Fairfax,
Virginia. The Bank engages a branch-lite model with six
full-service financial centers in Herndon, Fairfax, McLean, Leesburg, Clarendon, and Washington, D.C. MainStreet Bank has 55,000
free ATMs and a fully integrated online and mobile banking
solution. The Bank is not restricted by a conventional branching
system, as it can offer business customers the ability
to Put Our Bank in Your Office®. With robust and
easy-to-use online business banking technology, MainStreet has "put
our bank" in well over 1,000 businesses in the metropolitan
area.
In 2021, the Board and management decided to make an investment
in technology that would best serve clients requiring
Banking-as-a-Service (BaaS). The Avenu BaaS solution was
officially released into service on October
1, 2024. The ability to digitally offer banking
services in a safe and compliant manner allows the Company to reach
new customer deposit segments, diversify revenue streams and
generate additional income. The BaaS market is currently
underserved, and the opportunities for a well-developed solution
are robust. The Avenu business model is in line with the
Company's physical branch-lite strategy.
MainStreet Bank has a robust line of business and professional
lending products, including government contracting lines of credit,
commercial lines and term loans, residential and commercial
construction, and commercial real estate. MainStreet Bank is an SBA
Preferred Lender offering 7A and 504 lending solutions. From
sophisticated cash management to enhanced mobile banking and
instant-issue Debit Cards, MainStreet Bank is always looking for
ways to improve our customer's experience.
MainStreet Bank was the first community bank in the Washington, D.C., metropolitan area to offer a
full online business banking solution. MainStreet Bank was also the
first bank headquartered in the Commonwealth of Virginia to offer CDARS – a solution that
provides multi-million-dollar FDIC insurance. Further information
on the Bank can be obtained by visiting its website at
mstreetbank.com.
MainStreet Bank provides a full-stack embedded banking solution
that connects fintech partners and their apps directly and
seamlessly to the purpose-built Avenu core. Avenu's
clients are fintechs, social media solutions, application
developers, money movers, and entrepreneurs. They all have one
thing in common: They are in search of a reliable partner to help
innovate how money moves - solving real-world issues and helping
communities thrive. MainStreet Bank is that reliable partner
dedicated to providing a best-in-class solution to sustain
long-term business relationships.
MainStreet Bancshares, Inc. has an investment grade rating of
"A" from Egan-Jones Rating Company.
This release contains forward-looking statements, including
our expectations with respect to future events that are subject to
various risks and uncertainties. The statements contained in this
release that are not historical facts are forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995. Words such as "may," "will,"
"could," "should," "expect," "plan,"
"project," "intend," "anticipate,"
"believe," "estimate," "predict,"
"potential," "pursuant," "target,"
"continue," and similar expressions are intended to
identify such forward-looking statements. Factors that could cause
actual results to differ materially from management's projections,
forecasts, estimates and expectations include: fluctuation in
market rates of interest and loan and deposit pricing, adverse
changes in the overall national economy as well as adverse economic
conditions in our specific market areas, future impacts of pandemic
outbreaks, maintenance and development of well-established and
valued client relationships and referral source relationships, and
acquisition or loss of key production personnel. We caution readers
that the list of factors above is not exclusive. The
forward-looking statements are made as of the date of this release,
and we may not undertake steps to update the forward-looking
statements to reflect the impact of any circumstances or events
that arise after the date the forward-looking statements are made.
In addition, our past results of operations are not necessarily
indicative of future performance.
Contact: Debra Cope
Director of Corporate Communications
Desk (703) 481-4599
Mobile (202) 468-3814
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SOURCE MainStreet Bank
