MIDDLEFIELD, Ohio--(BUSINESS WIRE)--The Middlefield Banking Company, a wholly owned subsidiary of Middlefield Banc Corp. (NASDAQ: MBCN), today announced the grand opening of its newest location in Powell, Ohio. Powell is the company’s 15th full-service banking center and fourth in the Central Ohio region.
“I am excited to announce The Middlefield Banking Company’s newest Central Ohio location,” said Charles Moore, President of the Central Ohio Region of The Middlefield Banking Company. “Powell is an ideal location for us to expand due to its growth and we look forward to providing customer-centric, community-focused banking services to the area’s local residents and businesses.”
The new 2,800-square foot facility is located off of Sawmill Parkway in Powell. The facility is designed to make the customer’s banking experience quick and easy, while offering security and privacy. The new branch will feature three drive-through lanes to provide customers the ability to conveniently and efficiently do their banking. Creating a family-friendly environment for customers with children, the Powell branch offers a designated area for children inside the lobby. The Middlefield Banking Company currently has Central Ohio branches in Dublin, Powell, Sunbury and Westerville.
Thomas G. Caldwell, President and Chief Executive Officer stated, “Central Ohio is an important component of Middlefield’s business model and over the past two years we have added two new locations and increased the number of associates by 50%. This has contributed to a 27% increase in deposits and 49% growth in loans over the last two years within the Central Ohio Region. We look forward to additional opportunities to grow our presence in this compelling market.”
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the bank holding company of The Middlefield Banking Company with total assets of $1.2 billion at June 30, 2018. The bank operates 15 full-service banking centers and an LPL Financial® brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, 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.