Middlefield Banc Corp. Joins Russell 3000® Index

Rhea-AI Summary

Middlefield Banc Corp. (NASDAQ: MBCN) will join the Russell 3000 Index effective June 29, 2020. This milestone underscores the success of its strategic plan, with $100 invested in MBCN yielding a total return of $277 since 2009, outperforming the Nasdaq Bank Index. The Russell 3000 includes the 4,000 largest U.S. stocks, enhancing visibility among investors and aiding long-term value creation. Russell indexes serve as benchmarks for $9 trillion in assets, and MBCN's inclusion signifies important recognition in the investment community.

Positive

• Inclusion in the Russell 3000 Index enhances visibility and credibility within the investment community.
• $100 invested in MBCN stock from 2009 to May 2020 yielded a total return of $277, outperforming the Nasdaq Bank Index's $205.

Negative

• None.

MIDDLEFIELD, Ohio, June 22, 2020 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) is set to join the broad-market Russell 3000^® Index at the conclusion of the 2020 Russell indexes annual reconstitution, effective after the U.S. market opens on June 29.

“Inclusion in the Russell 3000^® is an important milestone for Middlefield, and reflects the success of our long-term strategic plan,” stated Thomas G. Caldwell, Middlefield’s President and Chief Executive Officer. “From December 31, 2009 to May 31, 2020, $100 invested in Middlefield’s stock has achieved a total return of $277 compared to $205 for the Nasdaq Bank Index. We believe our awareness and exposure within the investment community will increase as a member of the Russell 3000^® and we look forward to continue pursuing strategies that create long-term value for our shareholders.”

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 8, ranking them by total market capitalization. Membership in the US all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000^® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

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 $1.21 billion at March 31, 2020. 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 

About FTSE Russell:

FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com

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.

100%; border-collapse:collapse !important;">

50%; width:50%; min-width:50%;">Company Contact: Thomas G. Caldwell President/Chief Executive Officer Middlefield Banc Corp. (440) 632-1666 Ext. 3200 tcaldwell@middlefieldbank.com

50%; width:50%; min-width:50%;">Investor and Media Contact:  Andrew M. Berger Managing Director SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com

FAQ

When will Middlefield Banc Corp. be added to the Russell 3000 Index?

Middlefield Banc Corp. will be included in the Russell 3000 Index effective June 29, 2020.

What is the significance of Middlefield Banc Corp.'s inclusion in the Russell 3000 Index?

The inclusion signifies an important milestone, reflecting the company's success and enhancing its visibility for investors.

How has Middlefield Banc Corp.'s stock performed over the past decade?

Since December 31, 2009, a $100 investment in MBCN has resulted in a total return of $277 as of May 31, 2020.

What are the benefits of being a member of the Russell 3000 Index for Middlefield Banc Corp.?

Membership increases awareness and exposure, potentially leading to more investment and long-term value creation.