Locate a branch

MBC Financial Statement

(Quarterly)

Font Size 
MIDDLEFIELD BANC CORP.
CONSOLIDATED BALANCE SHEET
(Dollar amounts in thousands, except shares)
 
           June 30,        December 31,
      2015     2014
           
ASSETS            
Cash and due from banks     $ 20,311     $ 20,846
Federal funds sold 2,340     4,793
Cash and cash equivalents     22,651     25,639
Investment securities available for sale, at fair value     157,577     154,334
Loans held for sale     398     438
Loans     492,893     470,584
Less allowance for loan and lease losses 6,346     6,846
Net loans 486,547     463,738
Premises and equipment, net 10,019     9,980
Goodwill 4,559     4,559
Core deposit intangibles     96     116
Bank-owned life insurance     13,253     9,092
Other real estate owned     2,308     2,590
Accrued interest and other assets 8,110     7,045
             
TOTAL ASSETS   $ 705,518     677,531
             
LIABILITIES            
Deposits:            
Noninterest-bearing demand   $ 109,732   $ 105,512
Interest-bearing demand 59,128 56,377
Money market 73,425     75,895
Savings 179,353     178,470
Time 201,886     169,858
Total deposits 623,524     586,112
Short-term borrowings     4,517     14,808
Other borrowings     10,465     10,624
Accrued interest and other liabilities 2,200     2,120
TOTAL LIABILITIES 640,706     613,664
             
STOCKHOLDERS' EQUITY            
Common stock, no par value; 10,000,000 shares authorized,            
2,252,179 and 2,242,025 shares issued; 2,062,649 and            
2,052,495 shares outstanding     35,854     35,529
Retained earnings 34,570     32,524
Accumulated other comprehensive income     1,122     2,548
Treasury stock, at cost;189,530 shares     (6,734)     (6,734)
TOTAL STOCKHOLDERS' EQUITY 64,812     63,867
     
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 705,518   $ 677,531
 
 
 
MIDDLEFIELD BANC CORP.
CONSOLIDATED STATEMENT OF INCOME
(Dollar amounts in thousands, except per share data)
                         
                         
                         
      Three Months Ended   Six Months Ended
      June 30,   June 30,
      2015     2014   2015     2014
INTEREST INCOME      
Interest and fees on loans     $ 5,842     $ 5,575     $ 11,685     $ 11,269
Interest-bearing deposits in              
other institutions     12 9   20 14
Federal funds sold     5 6   8 9
Investment securities:              
Taxable interest     379 526   774 1,035
Tax-exempt interest     805 783   1,564 1,538
Dividends on stock     23 20   50 43
Total interest income     7,066 6,919   14,101 13,908
               
INTEREST EXPENSE              
Deposits     874 929   1,705 1,869
Short-term borrowings     33 38   70 73
Other borrowings     23 32   46 64
Trust preferred securities     60 34   52 60
Total interest expense     990 1,033   1,873 2,066
               
NET INTEREST INCOME     6,076 5,886   12,228 11,842
               
Provision for loan losses     - 120   105 300
               
NET INTEREST INCOME AFTER              
PROVISION FOR LOAN LOSSES     6,076 5,766   12,123 11,542
               
NONINTEREST INCOME              
Service charges on deposit accounts     470 469   911 910
Investment securities gains, net     22 64   46 58
Earnings on bank-owned life insurance     92 68   161 135
Gain on sale of loans     120 -   173 -
Other income     258 256   467 469
Total noninterest income     962 857   1,758 1,572
               
NONINTEREST EXPENSE              
Salaries and employee benefits     2,560 2,268   4,920 4,284
Occupancy expense     291 275   640 596
Equipment expense     241 194   457 414
Data processing costs     261 224   511 438
Ohio state franchise tax     75 93   150 176
Federal deposit insurance expense     120 97   232 229
Professional fees     277 338   596 625
(Gain) loss on other real estate owned     (40) 75   48 70
Advertising expense     195 124   391 247
Other real estate expense     268 102   333 165
Directors fees     127 118   245 204
Other expense     842 690   1,505 1,379
Total noninterest expense     5,217 4,598   10,028 8,827
               
Income before income taxes     1,821 2,025   3,853 4,287
Income taxes     316 414   720 913
             
NET INCOME   $ 1,505   $ 1,611   $ 3,133   $ 3,374
           
EARNINGS PER SHARE          
Basic   $ 0.73   $ 0.79   $ 1.52   $ 1.66
Diluted     0.73     0.79     1.52     1.65
   
DIVIDENDS DECLARED PER SHARE   $ 0.27   $ 0.26   $ 0.53   $ 0.52
Central Ohio Northeast Ohio