By Andy Medici
Tuesday July 21, 2020
Abdul Hersiburane, a former executive vice president and director of business banking, was promoted to a new role. MAINSTREET BANK
Fairfax-based MainStreet Bank has a new president.
Abdul Hersiburane, current executive vice president and director of business banking at the organization, was promoted into that top spot. He replaces Chris Brockett, who will remain at the bank's parent company, MainStreet Bancshares Inc., as a director and president, the bank said Monday.
"Abdul has been extremely successful in assembling a team of high-performing business bankers who are focused on building deposit and lending opportunities for the bank," Brockett said in a statement.
Hersiburane began his banking career in 1984 in Somalia and moved to the United States in 1995, before working for the next decade as a senior financial specialist and financial adviser with First Union Bank, then Wachovia Bank. He joined Mainstreet Bank in 2007 as a business banker, before rising to head that division in 2015.
Jeff Dick will remain chairman and CEO for MainStreet Bank and its parent company, as he did when Brockett served in the president's role.
MainStreet Bank has leaned more into online banking offerings over the years, keeping a light network of seven branches, currently in Herndon, Fairfax, Fairfax City, McLean, Leesburg, Clarendon and D.C. It also participated in the Small Business Administration's Paycheck Protection Program, counting 1,125 loans nationwide.
The bank has grown to about 125 employees as of the end of this year's first quarter, as well as $1.33 billion in assets and $1.15 billion in deposits. As of the middle of last year, its $1.01 billion in metro-area deposits had ranked it No. 25 among Greater Washington's largest banks, with just shy of 0.4% market share.
It ranked as the region's 12th largest lender of commercial and industrial loans last year, totaling $120.9 million.