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Investor Relations

Middlefield Banc Corp.

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Liberty Acquisition

On January 13, 2017, Middlefield closed its merger with Liberty Bank, N.A., a financial institution with banking locations in Beachwood, Twinsburg, and Solon, Ohio.

Management expects the $40.8 million acquisition will be immediately accretive to earnings and to earn back the tangible book value dilution created from the transaction in less than four years.

Upon completion, Middlefield has over $1.0 billion in total assets, $878.5 billion in total loans, and $897.7 million in total deposits.

Investor Fact Sheet

2017 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

2017 Nine Mos. Financial Highlights vs. 2016 Nine Mos.:

(unless noted)
  • Net income increased 48.6% to $7.1 million
  • Diluted EPS increased 3.0% to $2.37, which includes a 44.0% increase in the average number of diluted shares outstanding
  • Total loans increased 49.8% to $878.5 million
  • Nonperforming assets to total assets declined to 1.17% from 1.25%
  • Net interest income improved 44.6% to $27.5 million
  • Tier 1 leverage ratio remains strong at 10.06%

Corporate Overview

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.

Growth Drivers

  • 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
  • Liberty Acquisition: The $40.8 million acquisition of Liberty Bank closed in January 2017, and is quickly integrating into Middlefield’s growing platform

2017 Fourth Quarter Dividend Dates

Record date: November 28, 2017 • Payment date: December 15, 2017

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 2006 through 2016, Middlefield’s loan portfolio grew at a compound annual growth rate of 5.9%. The significant growth Middlefield has experienced through September 30, 2017 reflects increased productivity from its new lenders, business managers and the recently opened Mentor LPO, as well as the Liberty acquisition.

Total Loans = $878.5 million at September 30, 2017

Excellent Asset Quality and Strong Capital Levels

Q3-17 Q3-16 FY16 FY15 FY14
Nonperforming loans to total loans 1.37% 1.42% 1.16% 1.92% 1.92%
Nonperforming assets to total assets 1.17% 1.25% 1.02% 1.59% 1.72%
Allowance for loan losses to total loans 0.78% 1.08% 1.08% 1.20% 1.45%
Net charge-off ratio – annualized 0.02% 0.09% 0.06% 0.16% 0.13%
Tier I capital to average assets 10.06% 10.10% 9.27% 8.69% 9.60%

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.

Shareholder Services

American Stock Transfer & Trust Company
6201 15th Avenue
Brooklyn, NY 11219
Toll Free: 800.937.5449
International: 718.921.8156
Fax: 718.236.2641
Web site: http://www.amstock.com
Stock Symbol: MBCN
American Stock Transfer & Trust Company
(Written Correspondence)
American Stock Transfer & Trust Company
P.O. Box 922
Wall Street Station
New York, NY 10269-0560

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