MIDDLEFIELD, Ohio--(BUSINESS WIRE)--Middlefield Banc Corp. (Nasdaq: MBCN) today announced that it was added to KBW’s coveted Bank Honor Roll of superior performers. In addition, to celebrate recent operating and financial milestones, members of Middlefield’s management team and Board of Directors will participate in The Nasdaq Stock Market Closing Bell Ceremony on Tuesday, April 28, 2015, at the Nasdaq MarketSite in New York’s Times Square.
Thomas G. Caldwell, Middlefield Banc Corp.’s President and Chief Executive Officer, stated: “I am pleased with the many operating and financial milestones we achieved in 2014, which included ending the year with record net loans outstanding, net income, and stockholders’ equity. We continue to be acknowledged for our strong level of profitability, which at its heart, is driven by the Bank’s focus on providing our communities with valuable financial services and answering the personal needs of our customers. To be one of the 25 banking institutions, out of nearly 400 total companies screened for the KBW Honor Roll is a great honor for Middlefield. We are excited to celebrate our recent accomplishments and share them with the world when we ring the closing bell at the Nasdaq MarketSite in Times Square at 4:00 p.m. ET on April 28.”
The Nasdaq Stock Market Closing Bell Ceremony
To celebrate Middlefield’s September 2014 listing on The Nasdaq Capital Market as well as recent operating and financial milestones, members of Middlefield’s management team and Board of Directors will participate in the closing bell ceremony at 4:00 p.m. ET on Tuesday, April 28 2015. For updates on the event and to watch the event live, visit https://new.livestream.com/nasdaq/live.
KBW’s Bank Honor Roll
KBW, a full-service, boutique investment bank and broker-dealers that specializes in the financial services sector, selected Middlefield Banc Corp. as one of 25 U.S. banking institutions to its coveted “Bank Honor Roll” of superior performers.
Honor Roll winners are publicly traded banking institutions with more than $500 million in total assets that meet the following three conditions:
- No annual loss reported in net income per share before extraordinary items over the past 10 years;
- 2014 annual reported net income per share before extraordinary items equal to or greater than peak net income per share over the past 10 years; and
- Consecutive increases in net income per share before extraordinary items since 2009.
KBW found that 25 banking institutions, out of nearly 400 total companies screened, now qualify for inclusion on the KBW Bank Honor Roll; down from 31 institutions in the prior year.
“The Bank Honor Roll is a way for KBW to acknowledge companies that have succeeded during what was a very challenging decade for banks,” noted Fred Cannon, Global Director of Research at KBW.
“These institutions have flourished by differentiating themselves from their peers, while at the same time, positioning themselves for further growth in what continues to be a difficult rate environment,” continued Mr. Cannon.
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a bank holding company with total assets of $677.5 million at December 31, 2014. The bank operates 10 full service banking centers and an LPL Financial® brokerage office serving Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, and Westerville.
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.