Press Release

Payments Veteran Todd Youngren Joins MainStreet Bank

Company Release - 12/11/2019 9:33 AM ET

FAIRFAX, Va., Dec. 11, 2019 /PRNewswire/ -- MainStreet Bancshares, Inc., (Nasdaq: MNSB) parent company of MainStreet Bank announced that Todd Youngren joined the Bank's Payment Service Solutions Group as a Senior Vice President and Client Management Director.

Todd Youngren, Senior Vice President - Client Management Director

Mr. Youngren brings expertise in all facets of payments, including accounting and finance, financial collaboration, as well as designing and implementing technology solutions.  He also brings complex treasury management experience to the Payments Group.   Mr. Youngren's career experience spans both sides of the payment spectrum – in some instances as a payment service provider and in others as a commercial consumer of payment services.

"Joining MainStreet's Payment Service Solution Group is a great opportunity for me to culminate past experiences into best-of-class systems and services for our clients," said Todd Youngren, SVP Client Management Director of MainStreet Bank. "With large banks continuing to 'de-risk' from this business, the payments community needs a financial institution who is fully prepared and ready to serve them for the long-term."

"We are excited to have Todd on the team," said Dan Miner, SVP & Director of Payment Systems.  "We've worked together in the past and his skills fully compliment the group.  His broad experience and perspective will enhance our ability to provide client-focused solutions."

MainStreet Bank is a growing $1.2 billion community bank headquartered in Fairfax, VA.  The Bank offers Payment Service Solutions to third-party payment and money service businesses, including:

  • Check cashers and dealers in foreign exchange,
  • Third party payment processors and Independent Sales Organizations (ISO),
  • Agents or Authorized Delegates of a licensed third-party payment or money service business,
  • Money transmitters and stored value providers, and
  • Money transmitters who require a bank as a stand-in for money transmitter licenses.

To learn more about MainStreet Bank's Payment Service Solutions, please contact Todd Youngren at (571) 375-1369 or tyoungren@mstreetbank.com.

This release contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties.  The statements contained in this 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," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions are intended to identify such forward-looking statements. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel.

We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made.  In addition, our past results of operations are not necessarily indicative of future performance.

For more information or to schedule an interview with a MainStreet Bank spokesperson, please contact Bruce Gemmill of MainStreet Bank at 571-375-1358 or bgemmill@mstreetbank.com

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SOURCE MainStreet Bancshares, Inc.

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