MainStreet Bancshares Inc. 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock

10/01/2020 I have rated this new issue ‘D’. The company has a huge amount (22%+/-) of loans in deferral because of the corona virus. It is likely many of these loans will not be paid and as a small bank financials could be significantly affected.

7/6/2023 Upgraded to average as the bank has fixed their previous credit issues.

Ticker: MNSBP

Parent Ticker: MNSB

OTC Grey Market Temporary Ticker: NA

Issuance Date: 09/11/2020

1st Call Date: 09/30/2025

Maturity Date: None

Shares Issued: 1,000,000

Overallotment Shares: 0

Coupon: 7.50%

Face Value: $25.00

Cumulative: No

Qualified: Yes

Quarterly Dividend Amount: 0.4688

Ex-Dividend Months: FEB, MAY, AUG, NOV

Approx. Ex-Dividend Day: 20

Payment Months: MAR, JUN, SEP, DEC

Payment Day: 30

S&P Rating: NR

III Rating (In Regards to Dividend Safety Only): C

Moody Rating: NR

Fitch Rating: NR

Egan-Jones Rating: NR

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