Middlefield Banking Company celebrates 120th anniversary



MIDDLEFIELD, Ohio – (COMMERCIAL THREAD) – Middlefield Banc Corp. (NASDAQ: MBCN) is proud to celebrate the 120e anniversary of The Middlefield Banking Company this year.

The Middlefield Banking Company opened on September 16, 1901, after a group of local businessmen recognized the need for a local bank within the community of Middlefield. Since its founding with only $ 25,000 in capital and a single location, Middlefield has grown in northeastern and central Ohio. Today, Middlefield is one of the largest independent community banks in Ohio serving 10 Ohio counties with 16 branches, an LPL Financial® brokerage office and a loan production office, with over 1, $ 3 billion in assets as of June 30, 2021.

“The success of the Middlefield Banking Company over the past 120 years is the result of our teams’ continued commitment to providing supportive, local and one-on-one financial services to our communities,” said Thomas G. Caldwell, President and Chief Executive Officer of Middlefield. “On behalf of the Executive Board and the Board of Directors, I would like to personally thank the members of our team for their dedication to providing high quality service. We look forward to providing leading local financial products and services to our customers and shareholders for many years to come. ”

To celebrate 120 years, Middlefield’s 16 branches are hosting customer appreciation events on Thursday, September 16, 2021. Activities will include food, drinks, giveaways and raffles.

Along with the anniversary celebration, Middlefield has launched a Home Equity Line of Credit (HELOC) promotion that will be available to eligible borrowers until October 31, 2021. The HELOC promotion offers a prime rate minus 0.50% (currently 2.75% APR), $ 0 application fee, $ 0 closing fee, and no annual fee for the first year. The Bank also recently launched a special loan for commercial equipment starting at 2.99% APR for a term of 3 years. For more details, please visit https://www.middlefieldbank.bank/heloc and https://middlefieldbank.bank/equipment.

About Middlefield Banc Corp.

Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the banking holding company of The Middlefield Banking Company with total assets of $ 1.36 billion as of June 30, 2021. 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.

Further information is available at www.middlefieldbank.bank.

This press release from Middlefield Banc Corp. and the reports that Middlefield Banc Corp. filings with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, in particular, the financial transactions, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors which could cause the future results of Middlefield Banc Corp. differ significantly 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 which may reduce interest margins; (3) changes in prepayment rates, write-offs and loan loss provisions; (4) less favorable general economic conditions than expected; (5) legislative or regulatory changes likely to have a negative impact on the activities in which Middlefield Banc Corp. is engaged; (6) technological issues that could have a negative impact on the financial operations or customers of Middlefield Banc Corp. ; (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) developments in the securities markets; or (9) risk factors mentioned in reports and registration statements filed by Middlefield Banc Corp. with the Securities and Exchange Commission. Middlefield Banc Corp. makes no commitment to issue revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.



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