John Marshall Bancorp, Inc. (NASDAQ: JMSB) is a Virginia-based bank holding company that operates John Marshall Bank, a Virginia chartered commercial bank serving the Washington, D.C. metropolitan area. The company earns revenue primarily through net interest income, collecting interest and fees on loans funded by customer deposits. Incorporated as a Virginia corporation in 2016 and commencing bank holding company operations on March 1, 2017, the Bank itself opened in 2006 and is headquartered in Reston, Virginia, approximately 20 miles west of Washington, D.C. As of June 30, 2025, JMSB held $1.90 billion in deposits, ranking 17th in the Washington, D.C. MSA with a 0.6% market share in a market totaling $315 billion in deposits. The bank targets small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. Gross loans net of unearned income grew $103.2 million, or 5.5%, during fiscal year 2025. Over the prior five fiscal years, annual return on average assets averaged 0.91% and annual return on average equity averaged 9.16%.

Revenue model

Net interest income from loans and investment securities funded by customer deposits, supplemented by non-interest income including service charges on deposit accounts, other service charges and fees, insurance commissions, gains on sale of government guaranteed loans, and other fee income.

Products and services

Commercial checking, savings and money market accounts, certificates of deposit, treasury and cash management services, commercial loans, purchased adjustable-rate mortgages (5/1, 7/1, and 10/1 ARMs, representing approximately 17.1% of the loan portfolio as of December 31, 2025), equipment financing, receivables financing, consumer loans, and automobile financing.

Customers and end markets

Small to medium-sized businesses, business owners and employees, professional corporations, non-profit organizations, and individuals in the Washington, D.C. MSA. The bank's underwriting focuses on experienced business owners with demonstrated capacity to service debt.

Value-chain role

Community commercial bank: originates and holds loans on balance sheet, gathers local deposits, and provides treasury and cash management services directly to business and individual customers in its market area.

Geographic exposure

Washington, D.C. metropolitan statistical area, with the Bank and Company headquarters in Reston, Virginia. The Washington, D.C. MSA had $315 billion in total deposits as of June 30, 2025, with the top five financial institutions controlling 68% of that market.

Competitors

Commercial banks operating in the Washington, D.C. MSA, Credit unions, Savings institutions, Mortgage banking firms, Finance companies including fintech companies, Securities brokerage firms, Insurance companies, Money market funds and other mutual funds, Regional and national financial institutions with offices in the Washington, D.C. MSA

Source: SEC 10-K, filed 2026-03-13

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