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Exhibit 99.1 PRESS RELEASE July 20 , 2021 , 8:00 AM ET Contact : Jeff W. Dick , Chairman & CEO ( 703 ) 481-4567 MainStreet Bancshares , Inc. Reports Record Second Quarter 2021 Earnings Fairfax , Virginia – July 20 , 2021 - MainStreet Bancshares , Inc. ( Nasdaq : MNSB & MNSBP ) , the holding company for MainStreet Bank , reported net income of $ 7.1 million for the second quarter of 2021. This represents a 16.3 % Return on Average Equity , a 1.7 % Return on Average Assets , $ 0.87 per share of common stock ( basic and diluted ) , and a book value of $ 20.18 per common share . Net interest income of $ 13.0 million and noninterest income of $ 1.6 million for the quarter - ended June 30 , 2021 , are up 21 % and 18 % respectively from the same period in 2020 . The Company's cost of funds for the quarter - ended June 30 , 2021 , is 1.1 % , down 37 % from the same period a year earlier . The Company remains focused on reducing funding costs , increasing fee income , and improving operating efficiency . The Company's efficiency ratio is 54 % for the quarter - ended June 30 , 2021 , an 11 % improvement from the 61 % efficiency ratio reported for the same period a year ago . Total assets were $ 1.7 billion on June 30 , 2021 , an increase of 12 % from June 30 , 2020. Net loans were $ 1.3 billion on June 30 , 2021 , after the SBA forgiveness of $ 55 million of Paycheck Protection Program loan balances during the quarter . Asset quality continues to be strong with non - performing assets representing 0.07 % of total assets on June 30 , 2021 . Non - interest bearing deposits represent a solid one - third of the $ 1.5 billion in total deposits as of June 30 , 2021. In addition , 74 % of the Company's total deposits are designated as “ core deposits " . A year ago , the Company made a special provision to the Allowance for Loan and Lease Losses ( ALLL ) based upon an assessment of the potential impact from the COVID 19 pandemic . At that time , little was known about the pandemic . A year later and despite the pandemic , the loan portfolio remains strong and continues to perform well . The local economy also continues to be robust and is quickly recovering from the effects of the pandemic . The Company updated its assessment as of June 30 , 2021 , and decided to release $ 2.1 million of that special provision . The table below provides a recap of activities relating to the special COVID provision over the past 12 months ending June 30 , 2021 . June 30 , 2020 Special COVID Provision Adjustments Starting Balance June 30 , 2020 + COVID Provision for loans originated between 6/30/2020 and 6/30/2021 - Release for recovered / repaid loan 12/31/2020 - Charged off loan 12/31/2020 - Release for indirect loans 03/31/2021 - Release for commercial portfolio 6/30/2021 Ending Balance June 30 , 2021 ( 000's ) $ 4,522 658 1,460 300 760 2,135 $ 525 The $ 525,000 remaining represents a 40 basis - point special COVID provision for the portfolio of hotel loans . The portfolio of hotel loans is experiencing month - on - month improvements in occupancy rates and room rates , but the Company determined that it is prudent to maintain a special provision for the portfolio of hotel loans .