Fairfax, Va.-based MainStreet Bank formed a holding company, MainStreetBancshares Inc., effective July 15.
MainStreet Bank is now a wholly owned subsidiary of MainStreetBancshares, with each issued and outstanding share of common stock ofMainStreet Bank converted into 1 share of common stock of the holding company,Chairman, President and CEO Jeffrey Dick said in a July 18 letter toshareholders.
Certificates of MainStreet Bank common stock now legallyrepresent shares of MainStreet Bancshares common stock. Shareholders will notbe required to exchange their current stock certificates until they sell ortransfer them, according to the letter.
Additionally, the common stock of MainStreet Bancshares willbe listed on the OTCQX marketplace maintained by OTC Markets Group Inc. underMainStreet Bank's current symbol MNSB.