ADDED
false --12-31 FY 2025 true The Company s Board of Directors has ultimate oversight of cybersecurity-related risks and it is assisted in this role by the Technology Committee and the Audit Risk Committee.
Processes for identifying, assessing, and managing cybersecurity-related risks are integrated into the Company s overall enterprise risk management process, which is overseen by the Audit Risk Committee.
The Audit Risk Committee is responsible for monitoring risks that are being taken by the Company, understanding the enterprise-wide effect of those risks and reporting such risks to the Board.
In fulfilling this role, the Technology Committee has primary oversight responsibility over management s efforts to manage and mitigate cybersecurity-related risk and reviews and approves the Company s cybersecurity strategy for protecting the Company s information assets and technology platforms.
The Audit Risk Committee oversees the Company s outsourced Internal Audit Department, which conducts reviews and assessments related to information security.
Management provides periodic reports to the Technology Committee and the Audit Risk Committee, both of which provide reports of their meetings to the full Board.
These reports to the Board and its Committees address the threat environment, vulnerability assessments, specific cyber incidents and management s efforts to monitor, detect and prevent cyber threats.
true The Company s information security program is primarily administered at the management level by the Information Security Department, which is led by the Company s Chief Information Officer (CIO), and is supported by the Chief Information Security Officer (CISO), and the Information Technology Department, which is led by the Company s Chief Technology Officer (CTO).
The Company s Information Security Department is responsible for day-to-day management of the Company s information security program, including data loss prevention, access control, threat monitoring, incident response and employee education and training.
The Information Security Department also maintains policies related to cybersecurity and data security that provide the required governance for the information security program.
REMOVED
There were 7,603,765, shares of common stock outstanding and 28,750 shares of 7.50% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock outstanding at December 31, 2024.
We currently operate six Bank branches; located in Herndon, Fairfax, McLean, Clarendon, and Leesburg, Virginia, and one in Washington D.C.
Avenu provides an embedded Banking as a Service (BaaS) solution that connects our partners (fintechs, application developers, money movers, and entrepreneurs) directly and seamlessly to our Software as a Service (SaaS) solution.
Our transformational subledger combined with our high-touch compliance training goes beyond the industry standards to ensure that our Fintech partners will prosper.
This division of MainStreet Bank serves money service businesses, payment processers, and other clients who have a need to embed deposit gathering and payment processing in their mobile Apps.
This division provides the Bank with valuable low-cost deposits and additional streams of fee income.
The Avenu division is classified within our Financial Technology reportable segment outlined in Note 26.
Additional information can be found in our investor presentations filed quarterly.
In December 2024, MainStreet Community Capital submitted an application to apply for the 2024 NMTC program allocation.
Allocation awards are expected to be announced during the fourth quarter of 2025.