MainStreet Bancshares: Redeemed Shares – Form 8-K

Shares Repurchased by MainStreet Bancshares, Inc.

Fairfax, Va. – February 9, 2022 – MainStreet Bancshares, Inc. (Nasdaq: MNSB & MNSBP), the holding company of MainStreet Bank, has repurchased 50,000 common shares of MainStreet Bancshares, Inc. (the “Company”) in market transactions .

The Company currently has a share repurchase program in place which repurchases an aggregate of 1.25 million shares pursuant to the limitations set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended , and other legal requirements. The Company’s last share repurchases were carried out in October/November 2020. A total of 885,785 shares have been repurchased since the implementation of the plan, including the shares purchased on February 8, 2022. The timing of these repurchases depends on market conditions and other considerations. . The share repurchase program does not obligate the Company to repurchase any dollar amount or number of shares, and the program may be extended, modified, suspended or discontinued at any time.

“The company is strongly capitalized and has delivered continued strong performance for 2021,” said Jeff W. Dick, chairman and CEO of MainStreet Bancshares, Inc. and MainStreet Bank. “We are focused on taking actions that will support our share price now and in the future.”

The company recently unveiled AvenuÔ, its Banking as a Service (BaaS) platform for fintechs. AvenuÔ is an exclusive solution specially designed for the company’s fintech partners. With AvenuÔ, fintechs can be up and running in as little as 60 days. To find out more, visit the Avenu.bank website. (The “.bank” domain is recognized as the global platform for growth and innovation in the financial services industry.)

MainStreet Bank is a community bank serving the greater Washington DC metropolitan area. The company had $1.65 billion in assets and $189 million in equity as of December 31, 2021. The company is focused on using technology to better serve its customer base and provides an elevated personal touch to those who are not as comfortable with technology.

MainStreet operates six branches in Herndon, Fairfax, McLean, Leesburg, Clarendon and Washington DC MainStreet Bank has 55,000 free ATMs and a fully integrated online and mobile banking solution. The Bank is not limited by a conventional branch system, as it can offer business customers the opportunity to place our bank in your office.®. With robust, easy-to-use online business banking technology, MainStreet has “put our bank” into thousands of businesses across the metro area.

MainStreet Bank offers a strong suite of business and professional lending products, including government contractual lines of credit, commercial lines and term loans, residential and commercial construction, and commercial real estate. MainStreet is also working with the SBA to provide 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 the experience of its customers.

MainStreet Bank was the first community bank in the Washington, DC metro area to offer a complete online business banking solution. MainStreet Bank was also the first bank headquartered in the Commonwealth of

Virginia will offer CDARS – a solution that provides multi-million dollar FDIC insurance. Further information about the Bank can be obtained by visiting its website at MainStreet.bank.

This release contains forward-looking statements, including our expectations regarding future events that are subject to various risks and uncertainties. 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” , “expects”, “plan”, “project”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “pursue”, “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: fluctuations in interest rates market and pricing of loans and deposits, adverse changes in the broader national economy as well as adverse economic conditions in our specific market sectors, future impacts of the outbreak of the new cor onavirus (COVID-19), the maintenance and development of well-established and valued customer relationships and referral sources, and the acquisition or loss of key production personnel. We caution readers that the above list of factors is not exclusive. Forward-looking statements are made as of the date of this release, and we may not take steps to update forward-looking statements to reflect the impact of any circumstances or events occurring after the date on which the forward-looking statements are made. In addition, our past operating results are not necessarily indicative of our future performance.

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