MainStreet Bancshares Launches Avenu Amid Q3 Losses
In This Article:
The latest update is out from MainStreet Bancshares ( (MNSB) ).
MainStreet Bancshares, Inc. reported a modest loss in Q3 2024 due to nonperforming real estate loans but maintained strong capital levels and core deposit growth. The company launched its Avenu Banking-as-a-Service solution to tap into the underserved BaaS market, aiming for digital scalability and new revenue streams. Despite initial expenses impacting profitability, MainStreet expects Avenu to enhance future growth and innovation, particularly in servicing fintechs and other tech-driven financial solutions.
For a thorough assessment of MNSB stock, go to TipRanks’ Stock Analysis page.
Terms and Privacy Policy