Investor Fact Sheet
2017 Fourth Quarter
Stock data at December 31, 2017
For over 100 years, Middlefield Banc Corp. has supported its communities by offering customers superior financial products, exceptional service, and modern banking amenities
2017 Financial Highlights:
- Net income increased 47.4% to $9.5 million
- Diluted EPS increased 2.3% to $3.10, which includes a 43.7% increase in the average number of diluted shares outstanding
- Return on avg. tangible common equity was 10.15%, compared to 10.01%
- Total loans increased 51.6% to $923.2 million
- Nonperforming assets to total assets declined to 1.23% from 1.65%
- Net interest income improved 44.7% to $37.3 million
Middlefield Banc Corp. provides personal and commercial banking services to customers in nine Ohio counties, and is continually recognized throughout its communities for its history of strong financial performance. This performance is a direct reflection of the company’s conservative operating approach and fundamental belief in safe and sound banking practices.
Creating Shareholder Value
Middlefield has a history of creating value for its shareholders. Middlefield has never reported a quarterly loss, and during the last recession, maintained its dividend amount. In addition, the company focuses on maximizing profitability and is continually recognized as one of the most profitable community banks in the U.S.
- Expand footprint: new LPO in Mentor, OH (October 2015), new branch in Sunbury, OH (October 2016), and new Central Ohio branch planned for Powell, OH (2018)
- Add talent: new loan officers hired in 2018
- Increase fee based income: focused secondary mortgage offering
- Liberty Acquisition: The $40.8 million acquisition of Liberty Bank closed in January 2017, and was successfully integrated into Middlefield’s growing platform
2018 Third Quarter Dividend Dates
Record date: September 1, 2018 • Payment date: September 14, 2018
Growing Loan Portfolio
The company lends to commercial and residential customers within its market areas. The loan portfolio consists primarily of commercial and residential mortgages, with no national or subprime lending. From 2007 through 2017, Middlefield’s loan portfolio has grown at a compound annual growth rate of 11.6%. The significant growth Middlefield has experienced reflects increased productivity from its new lenders, business managers and the growing Mentor LPO, as well as the Liberty acquisition.
Total Loans = $923.2 million at December 31, 2017
Excellent Asset Quality and Strong Capital Levels
|Nonperforming loans to total loans||1.45%||1.98%||1.92%||1.92%|
|Nonperforming assets to total assets||1.23%||1.65%||1.59%||1.72%|
|Allowance for loan losses to total loans||0.78%||1.08%||1.20%||1.45%|
|Net charge-off ratio – annualized||0.05%||0.06%||0.16%||0.13%|
|Equity to assets at period end||10.83%||9.77%||8.48%||9.43%|
This profile is for information purposes only. No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer, solicitation or recommendation to buy or sell this security. Investors should consult a professional investment adviser prior to making any investment decision. Statements contained in this profile that are not historical facts are forward-looking statements that involve risks and uncertainties. For a summary of important factors that could cause Middlefield Banc Corp.’s results to differ materially from those projected in, or inferred by, the forward-looking statements, please refer to the Company’s Annual Report on Form 10-K or quarterly report on Form 10-Q.
6201 15th Avenue
Brooklyn, NY 11219
Toll Free: 800.937.5449
Web site: http://www.amstock.com
Stock Symbol: MBCN
P.O. Box 922
Wall Street Station
New York, NY 10269-0560
Customer Service Hours:
Monday - Thursday, 8:00 a.m. to 7:00 p.m.
Friday, 8:00 a.m. to 5:00 p.m. EST.