Middlefield Banc Corp. Announces 2023 First-Quarter Cash Dividend Payment

Rhea-AI Summary

Middlefield Banc Corp. (NASDAQ: MBCN) declared a quarterly cash dividend of $0.20 per common share, representing a 17.6% increase over last year's first-quarter dividend. This dividend is payable on March 15, 2023, to shareholders of record as of March 3, 2023. The company, headquartered in Middlefield, Ohio, holds total assets of $1.69 billion as of December 31, 2022, and operates 22 banking centers across several locations including Beachwood and Dublin.

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• Quarterly cash dividend of $0.20 per share declared, a 17.6% increase from last year.
• Total assets reported at $1.69 billion, indicating financial stability.

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• None.

MIDDLEFIELD, Ohio, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) today announced its Board of Directors declared a quarterly cash dividend of $0.20 per common share. The first quarter dividend is payable on March 15, 2023, to shareholders of record on March 3, 2023. The 2023 first-quarter dividend payment represents a 17.6% increase over the 2022 first-quarter cash dividend payment.

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 $1.69 billion at December 31, 2022. The Bank operates 22 full-service banking centers and an LPL Financial® brokerage office serving Ada, Beachwood, Bellefontaine, Chardon, Cortland, Dublin, Garrettsville, Kenton, Mantua, Marysville, 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) changes in the securities markets; or (8) 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 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 quarterly cash dividend of $0.20 per common share.

When is the dividend payable for MBCN?

The dividend is payable on March 15, 2023, to shareholders of record on March 3, 2023.

How much is the increase in MBCN's dividend compared to last year?

The dividend represents a 17.6% increase compared to the first-quarter dividend of the previous year.

What are the total assets of Middlefield Banc Corp.?

Middlefield Banc Corp. reported total assets of $1.69 billion as of December 31, 2022.