The Middlefield Banc Corp. (NASDAQ: MBCN) today announced it has received Federal and State regulatory approvals to open a new branch in Sunbury, Ohio.
The 1,700 square feet office will be located at 492 West Cherry Street in Sunbury. Once completed in August, 2016, it will be The Middlefield Banking Company’s 11th full-service banking location and third office in Central Ohio.
“We are committed to expanding our presence in Central Ohio,” stated Thomas G. Caldwell, Middlefield’s President and Chief Executive Officer. “Sunbury is located in Delaware County, which is 20 miles north of Columbus and is the fastest growing suburban county in the State of Ohio, and the 21st fastest in the U.S. We are excited to offer our community oriented financial services to customers in Delaware County, once the Sunbury location is completed in August.”
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a bank holding company with total assets of $732.9 million at March 31, 2016. The bank operates 10 full service banking centers and an LPL Financial® brokerage office serving Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.
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.