Mainstreet Bancshares Estimates Q3 EPS Of $(0.04) Per Share
Portfolio Pulse from Benzinga Newsdesk
MainStreet Bancshares, Inc. (NASDAQ:MNSB) has issued guidance for a Q3 2024 loss of $0.04 per share. The company charged off $1.9 million to offload $21.8 million in nonperforming loans, reversed $983,000 in accrued interest, and paid $593,519 in liquidation expenses.
October 10, 2024 | 1:28 pm
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MainStreet Bancshares expects a Q3 2024 loss of $0.04 per share due to offloading nonperforming loans and associated costs. This guidance reflects challenges from pandemic-related issues and rising interest rates.
The guidance for a loss per share indicates financial challenges, primarily due to the charge-off of nonperforming loans and related expenses. This is likely to negatively impact investor sentiment and the stock price in the short term.
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