MainStreet Bank is headquartered in FAIRFAX and is the 15th largest bank in the state of Virginia. It is also the 543rd largest bank in the nation. It was established in 2004 and as of September of 2024, it had grown to 201 employees at 6 locations. MainStreet Bank has a B+ health rating.
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Profoundly Frustrating
1) required to have a video chat session to verify identity - was told this is done on all out of state applications.
2) assistant/branch managers handle new online applications. Managers I encountered either could not problem solve basic problems (Anita) or did not return phone calls (Mirabos x 3).
3) terms and conditions, truth in savings documents are not visible on bank website. Was told customers can not download them until after applying for an account.
Data as of Q3 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57742 |
| Year Established | 2004 |
| Employees | 201 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.51% |
| Return on Equity - YTD | 3.67% |
| Annual Interest Income | $99.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $2.22B$2.02B |
| Loans | Q3 2024vs Q3 2023 | $1.78B$1.68B |
| Deposits | Q3 2024vs Q3 2023 | $1.89B$1.69B |
| Equity Capital | Q3 2024vs Q3 2023 | $291.3MM$279.5MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $18.3MM$15.6MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $27.5MM$325K |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |