The Middlefield Banking Company (Nasdaq: MBCN) board of directors today announced that Eric P. Hollinger, current senior vice president of commercial lending, will become the Bank’s senior lender. In this position, Mr. Hollinger will be responsible for the profitable growth of all segments of the Bank’s loan portfolio.
He will succeed Jay P. Giles, who has informed the board of his intention to retire. Mr. Giles has served The Middlefield Banking Company since September, 1998. His career has included 44 years of community-focused banking service.
President and CEO Thomas G. Caldwell said that the succession provides continuity of leadership and leverages the extensive experience of Eric Hollinger in leading all lending units of the Bank. Mr. Caldwell said, "Eric is the ideal choice, and the Bank is well-positioned for future growth with a diverse and dynamic consumer and commercial business."
“The promotion of Eric Hollinger reflects our commitment to developing and expanding client centric relationships,” stated Mr. Caldwell, “Eric is highly regarded as a key advisor by entrepreneurs and leaders in the local business community. He also provides us with strong knowledge of both of our distinct markets.”
In accepting the position, Mr. Hollinger stated, “I am honored to become an integral part of the senior management team of such an outstanding company that is well positioned for growth, with dedicated employees who are committed to meeting our customers' needs every day. I look forward to leading the Middlefield Bank lending team at a time of great opportunity, as we address shifting customer preferences and deliver new solutions.”
Mr. Caldwell also said, "We thank Jay for all he has done for The Middlefield Banking Company during his tenure, particularly in navigating the financial crisis. During Jay’s tenure as Senior Lender, the Bank has established strong forward momentum with a solid balance sheet and credit quality, plus excellent growth prospects."
Mr. Hollinger, with over 30 years of banking and sales-related experience, joined The Middlefield Banking Company in June, 2013. A native of Worthington, Ohio, he holds an MBA from the Weatherhead School of Management at Case Western Reserve University. He completed his undergraduate degree in Marketing and International Business at Bowling Green State University. A resident of Chardon, Ohio, Mr. Hollinger and his wife, Kim, are the parents of three adult children.
The Middlefield Banking Company is an operating subsidiary of Middlefield Banc Corp. (Nasdaq: MBCN). Headquartered in Middlefield, Ohio, Middlefield Banc Corp. has assets in excess of $705.5 million. The bank operates full service banking centers and an LPL Financial® brokerage office serving Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, and Westerville, 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.