Middlefield Banc Corp. to Celebrate 10th Anniversary of Nasdaq Listing

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Middlefield Banc Corp. (NASDAQ: MBCN) is set to celebrate its 10th anniversary of listing on the Nasdaq Stock Market by ringing the Opening Bell on Tuesday, August 27, 2024. The ceremony will be broadcast live starting at approximately 9:15 a.m. ET and can be viewed on Facebook or Nasdaq's website.

Ronald L. Zimmerly, Jr., President and CEO, highlighted the company's achievements since listing on Nasdaq:

• Total assets increased by nearly 170%
• Annual net income grew over 140%
• Returned capital to shareholders through share repurchases and growing dividends

Zimmerly attributed the success to the hard work of employees and their dedication to local Ohio communities.

Middlefield to Ring the Nasdaq Stock Market Opening Bell on Tuesday, August 27, 2024

MIDDLEFIELD, Ohio, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) today announced that it will celebrate the 10^th anniversary of its listing on the Nasdaq Stock Market by ringing the Opening Bell on Tuesday, August 27, 2024.

The Middlefield Banc Corp. Opening Bell Ceremony will be broadcast live on Tuesday, August 27, 2024, starting at approximately 9:15 a.m. ET. Viewers can watch the opening ceremony on Facebook or the livestream at https://www.nasdaq.com/marketsite/bell-ringing-ceremony.

“It is an honor to represent Middlefield by ringing the Nasdaq Opening Bell and celebrating our 10^th anniversary on the Nasdaq Stock Market. As a community bank, we are dedicated to serving the needs of our local communities, customers, employees, and shareholders. Since listing on Nasdaq ten years ago, Middlefield’s total assets have increased by nearly 170%, our annual net income has grown over 140%, and we have returned capital back to our shareholders through our share repurchase program and growing annual dividend. Our success over this period would not have been possible without the hard work of our employees and their dedication to our local Ohio communities,” stated Ronald L. Zimmerly, Jr., President and Chief Executive Officer.

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 $1.83 billion at June 30, 2024. The Bank operates 21 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:
Ron Zimmerly President and Chief Executive Officer Middlefield Banc Corp. (419) 673-1217 RZimmerly@middlefieldbank.com	Andrew M. Berger Managing Director SM Berger & Company, Inc. (216) 464-6400 andrew@smberger.com

FAQ

When will Middlefield Banc Corp. (MBCN) ring the Nasdaq Opening Bell?

Middlefield Banc Corp. (MBCN) will ring the Nasdaq Opening Bell on Tuesday, August 27, 2024, to celebrate its 10th anniversary of listing on the Nasdaq Stock Market.

How can I watch Middlefield Banc Corp.'s (MBCN) Nasdaq Opening Bell ceremony?

You can watch Middlefield Banc Corp.'s (MBCN) Nasdaq Opening Bell ceremony live on Facebook or through the livestream at Nasdaq's website (https://www.nasdaq.com/marketsite/bell-ringing-ceremony) on August 27, 2024, starting at approximately 9:15 a.m. ET.

What growth has Middlefield Banc Corp. (MBCN) experienced since listing on Nasdaq?

Since listing on Nasdaq ten years ago, Middlefield Banc Corp. (MBCN) has seen its total assets increase by nearly 170% and its annual net income grow over 140%.

How has Middlefield Banc Corp. (MBCN) returned value to shareholders?

Middlefield Banc Corp. (MBCN) has returned capital to shareholders through a share repurchase program and growing annual dividends.