MainStreet Bank promotes young people as President of Banking as a Service division

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“This promotion recognizes Todd’s exceptional leadership in bringing our Banking as a Service solution to market,” said Jeff W. Dick, CEO of MainStreet Bank and MainStreet Bancshares Inc. “We designed Avenu ™ to be a transformational solution for FinTechs, and over the next few months, Todd and his team will finish turning our vision into reality. . “

“Todd gives our customers the best of both worlds because he has a rare blend of experience,” added Dick. “He has a deep understanding of the emerging trends and technological innovations that are revolutionizing payments, coupled with over 30 years of convenient financial payments and treasury know-how.”

“It’s an exciting time to be a payments innovator,” said Youngren. “Mobile payment application providers perform high volumes of BaaS transactions and urgently need the support of knowledgeable banking partners. Avenu ™ leverages the expertise we have accumulated over the years serving these niche markets to create a single, streamlined solution. Our goal is to help our customers transact smoothly, protect their resources, know their customers and stay in compliance. “

The transition of the FinTech and Payments Banking group to Avenu ™ is already underway, with a formal launch of the new brand planned for 25 October 2021.

Youngren started his banking career in old school cash management Riggs Bank in Washington DC, which was aimed at embassies, non-profit organizations and educational institutions, as well as businesses. He held a similar position at Sallie Mae, a leader in student loans, and eventually became CFO of Sallie Mae’s Business Office Solutions Group, a pioneer in the development of online transaction processing for higher education institutions. During his stay, he helped design a number of innovative tools, including the Refund Service, which streamlined the process of refunding student balances to students.

Subsequently, he gained experience in processing tax payments at Tier Technologies and in donation payments at FrontStream. The young people obtained a master’s degree in business administration from Marymount University. He also holds a bachelor’s degree from Laurent University.

About MainStreet Bank: MainStreet Bank operates six branches in Herndon, Fairfax, McLean, Leesburg, Clarendon and Washington, DC In addition, 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 possibility of Put our bank in your office®. Using robust and easy-to-use online banking technology, MainStreet has “put our bank” in more than 1,000 businesses in the metro area.

MainStreet Bank offers a strong line of business and professional lending products, including public markets 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 its experience. customer.

MainStreet Bank was the first community bank in Washington DC metropolitan area to offer a complete online banking solution to businesses. MainStreet Bank was also the first bank based 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.

This press release contains forward-looking statements, including our expectations regarding future events which are subject to various risks and uncertainties. Statements in this press 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”, “” “Plan”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “pursue”, “target”, “continue” and Similar expressions are intended to identify these forward-looking statements. Factors that could cause actual results to differ materially from projections, forecasts, estimates and expectations of management include: changes in market interest rates and loan prices and deposits, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, the maintenance and development of well-established and valued customer relationships and relationships with referral sources, and the acquisition or loss of key production personnel.

Contact: Debra Cope, 202-468-3814

SOURCE MainStreet Bancshares, Inc.

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https://www.mstreetbank.com/

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