MainStreet Bancshares, Inc. (Nasdaq: MNSB) the holding company for MainStreet Bank, announced the completion of its underwritten public offering of 1 million depositary shares, each of which represents a 1/40th interest in a share of its 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock, $1,000 liquidation preference per share (equivalent to $25.00 per depositary share), for gross proceeds of $25 million.

The depositary shares will be listed on the Nasdaq Capital Market ("Nasdaq") under the symbol "MNSBP." Trading of the depositary shares on Nasdaq is expected to begin on or after September 16, 2020.

Boenning & Scattergood, Janney Montgomery Scott, D.A. Davidson & Co. and B. Riley FBR served as joint book-running managers for the offering.

"The Washington DC metropolitan area is a great market for community banking," said Jeff W. Dick, Chairman & CEO of MainStreet Bancshares Inc., and MainStreet Bank. "Diversifying our capital stack allows us an opportunity to rebalance, to fund continued organic growth and to consider other corporate opportunities to better serve our market."

MainStreet operates seven branches in Herndon, Fairfax, Fairfax City, McLean, Leesburg, and Clarendon Virginia as well as 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.

MainStreet Bank has a full complement of payment solutions for financial technology companies with nationally known market leaders on-staff ready to help payment providers create a solution perfect for their needs.

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 also works with the SBA to offer 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 its customer experience.

MainStreet Bank was the first community bank in the Washington, DC 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.