The Middlefield Banking Company Expands Central Ohio Footprint and Opens Location in Sunbury

MIDDLEFIELD, Ohio--()--Middlefield Banc Corp. (Nasdaq: MBCN), the holding company for The Middlefield Banking Company, today announced the grand opening of a new branch location in Sunbury, Ohio.

Middlefield’s Sunbury branch is the Company’s 11th full-service banking location and third office in Central Ohio. It is located at 492 West Cherry Street in Sunbury.

“As one of the fastest growing markets in the state, we are excited to expand our footprint in Central Ohio to Delaware County,” stated Charles O. Moore, Middlefield’s Central Ohio Regional President. “Central Ohio is dominated by large banking institutions as the top five financial institutions account for approximately 85% of the market’s deposits. As a result, there is a tremendous opportunity for Middlefield to offer community-oriented banking services to customers in this region.”

“Middlefield is very committed to becoming more accessible to a growing base of potential customers in Central Ohio. As other community banks are consolidating in the market, The Middlefield Banking Company is expanding,” stated Thomas G. Caldwell, Middlefield’s President and Chief Executive Officer.

About Middlefield

Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a bank holding company with total assets of $760.1 million at June 30, 2016. The bank operates 11 full service banking centers and an LPL Financial® brokerage office serving Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Sunbury, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.

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.

Contacts

Middlefield Banc Corp.
James R. Heslop, 2nd, 440-632-1666 Ext. 3219
Executive Vice President/Chief Operating Officer
jheslop@middlefieldbank.com

Contacts

Middlefield Banc Corp.
James R. Heslop, 2nd, 440-632-1666 Ext. 3219
Executive Vice President/Chief Operating Officer
jheslop@middlefieldbank.com