Middlefield Banc Corp. Announces 2022 Third Quarter Cash Dividend Payment

Rhea-AI Summary

Middlefield Banc Corp. (NASDAQ: MBCN) declared a quarterly cash dividend of $0.17 per common share, set to be paid on September 15, 2022, to shareholders on record by September 2, 2022. The company, based in Middlefield, Ohio, reported total assets of $1.29 billion as of June 30, 2022. It operates 16 full-service banking centers and a brokerage office, providing financial services across multiple locations.

Positive

• Quarterly cash dividend of $0.17 per share enhances shareholder income.
• Strong asset base of $1.29 billion demonstrates financial stability.

Negative

• None.

MIDDLEFIELD, Ohio, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) today announced that the Company’s Board of Directors declared a quarterly cash dividend of $0.17 per common share, payable on September 15, 2022, to shareholders of record on September 2, 2022.

About Middlefield Banc Corp.
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the bank holding company of The Middlefield Banking Company with total assets of $1.29 billion at June 30, 2022. The bank operates 16 full-service banking centers and an LPL Financial® brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.  

Additional information is available at www.middlefieldbank.bank

This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Middlefield Banc Corp.’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.’s financial operations or customers; (7) the effect of the COVID-19 pandemic, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions; (8) changes in the securities markets; or (9) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.   

Company Contact:		Investor and Media Contact:
James R. Heslop, II President & CEO Middlefield Banc Corp. (440) 632-1666 Ext. 3219 JHeslop@middlefieldbank.com		Andrew M. Berger Managing Director SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com

FAQ

What is the dividend amount declared by MBCN?

Middlefield Banc Corp. declared a dividend of $0.17 per share.

When will the dividend for MBCN be paid?

The dividend will be paid on September 15, 2022.

What is the record date for MBCN's dividend?

The record date for the dividend is September 2, 2022.

What are the total assets of Middlefield Banc Corp.?

The company reported total assets of $1.29 billion as of June 30, 2022.