MainStreet Bancshares president to retire

The president of MainStreet Bancshares in Fairfax, Va., is retiring.

The $1.7 billion-asset company said in a press release Friday that Chris Brockett will retire on March 31. Brockett, who has been MainStreet’s president since January 2017, will remain on the company’s board.

“As an accomplished career banker, Chris has insights and experience that will continue to help light our path as we innovate and meet the credit needs of the communities we serve,” Jeff Dick, the company’s chairman and CEO, said in the release. 

Separately, MainStreet said its community development subsidiary, MainStreet Community Capital, will open later this year. The unit will provide capital and other financial services in distressed, low-income communities around Washington, D.C. 

The company also plans to launch Avenu, its Banking as a Service (BaaS) business, later this year.