Art Smith Joins MainStreet Bank as Commercial Lender

Sep 03, 2009, 14:24 ET from MainStreet Bank

HERNDON, Va., Sept. 3 /PRNewswire-FirstCall/ -- MAINSTREET BANK (OTC Bulletin Board: MNSB) announced that veteran Washington, D.C. commercial lender Arthur (Art) Smith has joined with the bank to focus on the D.C. and surrounding markets.

"Art is a fourth generation Washingtonian, and his knowledge of the D.C. market is extraordinary. He brings a wealth of experience to MainStreet," said Chairman, CEO & President Jeff W. Dick. "Art's career has crossed paths with several key people in our organization, and we're thrilled to add him to our commercial lending team."

Mr. Smith joins with a team of highly experienced commercial lenders whose focus is to craft unique solutions for business customers. MainStreet Bank offers a complete suite of commercial loan products, including: SBA-guaranteed small business loans, commercial and residential real estate loans, commercial term loans and lines of credit.

The Bank has physical offices located at 727 Elden Street in Herndon as well as 4029 Chain Bridge Road in Fairfax, Virginia. MainStreet Bank has also received approval to establish a third location at 3101 N. 10(th) St. in Arlington (2 blocks from the Clarendon Metro). The Bank intends to open this location in early 2010.

"I think the most exciting opportunity for my customers is that all of our decisions are made in-house, and our credit solutions are tailored to meet their specific borrowing needs. I also know that my customers will enjoy the ability to do all of their banking without leaving their office -- especially all of my customers within the city," stated Smith.

MainStreet Bank offers business customers the ability to Put Our Bank in Your Office( (R)) with simple-to-use technology. The Bank's secure web-enabled technology is used to manage accounts, pay bills, transfer funds, initiate wire transfers, sweep funds, make loan payments and advance funds from lines of credit. The technology can interface with Intuit((R)) or Microsoft((R)) accounting software for greater efficiency in accounting and finance operations. For accounts payable, customers can also build in reminders, customize loan payments, and set up regular funds transfers.

This release contains forward-looking statements, including our expectations with respect to future events, that are subject to various risks and uncertainties. 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, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Board of Governors of the Federal Reserve System. 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.

SOURCE MainStreet Bank