MNSBP - MainStreet Bancshares Inc. (MNSB) Q1 2024 Earnings Call Transcript

2024-04-22 16:32:02 ET

MainStreet Bancshares, Inc. (MNSB)

Q1 2024 Earnings Conference Call

April 22, 2024 2:00 PM ET

Company Participants

Jeff Dick - Chairman and Chief Executive Officer

Alex Vari - Chief Accountant

Tom Floyd - Chief Lending Officer

Tom Chmelik - Chief Financial Officer

Ben Baboval - Chief Risk Officer

Conference Call Participants

Chris Marinac - Janney Montgomery Scott

Presentation

Operator

Good morning, our virtual earnings webcast. My name is Jeff Dick and I'm the Chairman and CEO of Main Street Bank Shares, Inc., and Main Street Bank. I'm joined today with our CFO Tom Schmellek, our Chief Lending Officer, Tom Floyd, our Chief Accountant, Alex Vari, and our Chief Risk Officer, Ben Baboval.

This presentation will take about 15 minutes. We'll open up for questions for the remainder of the hour. We do have two analysts on the webcast with us today, Chris Marinac from Janney Montgomery Scott and Matt Breese from Stephens Inc. Both gentlemen will be able to ask their questions and share their comments directly following the presentation. You can submit written questions throughout the presentation using the viewing portal. If we miss your question during the discussion, please reach out after the webcast.

We'd be remiss if we didn't point you to our Safe Harbor page that describes the context of forward-looking statements. Finally, we use certain non-GAAP measures, which are identified as such within the presentation materials.

Before I get started, I need to apologize for an error in the slide deck that we published this morning on slide number 38, we listed the weighted average loan to value for our multifamily portfolio as 90%, I can't believe we didn't catch that. The correct number is 69% not 90%. This carries over and changes the weighted average of the entire loan to value for the whole investor commercial real estate portfolio to 63%. Again, my apologies....

For further details see: