Mainstreet Community Bank reports first-quarter earnings

By Beacon Business Briefs

posted May 25, 2010 - 10:55:22am

W. Ben Flowers Jr., president/CEO of Mainstreet Community Bank of Florida, announced that Mainstreet reported a profit of $166,876 for the first quarter of 2010. This marked six consecutive months of profit for Mainstreet, as it was also profitable over the fourth quarter of 2009. Mainstreet, with two banking offices in DeLand and one in Orange City, reported total assets as of March 31, 2010 at $175,041,000. Mainstreet’s Tier 1 Risk Based Capital was reported at 9.87%, nearly double of what is required to be considered “well capitalized.”

Flowers stated, “2009 was a tough year for our local and national economies. Being a community bank that lends in the West Volusia market, we were affected by this environment, too. But we are seeing signs of improvement. Our strong financial position has allowed us to continue to make loans, so we hope to see even greater loan growth in 2010.”

Mainstreet Community Bank of Florida is a state chartered, FDIC-insured community bank. The company, which opened in October 2003, is headquartered in DeLand, Florida. Mainstreet’s Senior Officers include: W. Ben Flowers, Jr. - President/CEO, Hal M. Rogers - EVP & Senior Lender, Stephanie Koshiol – SVP, CFO & COO and Mark Moyer - SVP & Branch Administrator. Mainstreet’s Directors include: F.A. (Alex) Ford, Jr. - Chairman, Roger B. Baumgartner, W. Frank DeMarsh, TL Bushey, David Hyzer, James H. Ford, Kevin Nelson, Lynette Drake, David A. Monk, Randall J. Marshall and W. Ben Flowers, Jr.

Mainstreet Community Bank of Florida offers a complete line of banking and other related financial services to commercial and retail customers. More information regarding products and services can be found on the company’s website at www.mainstreetcbf.com.

— info@beacononlinenews.com

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