Investor Fact Sheet
2016 Third Quarter
For over 100 years, Middlefield Banc Corp. has supported its communities by offering customers superior financial products, exceptional service, and modern banking amenities
2016 Nine-Month Financial Highlights versus 2015 Nine Months:
- Net income of $4.8 million
- Earnings per diluted share of $2.30 per diluted share
- Total loans increased 14.9% to $586.3 million
- Nonperforming assets declined to $10.0 million from $10.9 million
- Total interest income improved 4.3% to $22.2 million
- Tangible stockholders’ equity improved 8.2% to $32.70 per share
- Tier 1 capital raGo strengthened to 10.10% from 9.66%
Middlefield Banc Corp. provides personal and commercial banking services to customers in seven 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 by focusing on conservative banking strategies. 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) and new branch in Delaware County, OH, (October 2016)
- Add talent: new loan officers hired in 2016
- Increase fee based income: focused secondary mortgage offering
- Complete Liberty Acquisition: The $40.8 million acquisition of Liberty Bank was announced on July 28, 2016 and is expected to close in 2017 first quarter
2016 Fourth Quarter Dividend Dates
Record date: November 28, 2016 &bul; Payment date: December 15, 2016
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 sub-prime lending. From 2005 through 2015, Middlefield’s loan portfolio grew at a compound annual growth rate of 8.6%. The significant growth Middlefield has experienced through September 30, 2016 reflects increased productivity from its new lenders, business managers and the recently opened Mentor LPO.
Total Loans = $586.3 million at September 30, 2016
Excellent Asset Quality and Strong Capital Levels
|Nonperforming loans to total loans||1.50%||1.75%||1.92%||1.92%||2.82%|
|Nonperforming assets to total assets||1.31%||1.54%||1.59%||1.72%||2.32%|
|Allowance for loan losses to total loans||1.08%||1.24%||1.20%||1.45%||1.62%|
|Net charge-off ratio – annualized||0.09%||0.103%||0.03||0.38%||0.19%|
|Tier I capital to average assets||10.10%||9.66%||8.69%||9.60%||9.040%|
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.