Middlefield Banc Corp Stock Price, News & Analysis

Middlefield Banc Corp. (NASDAQ: MBCN) declared a quarterly cash dividend of $0.16 per common share, set for payment on September 15, 2021, to shareholders recorded by September 3, 2021. The company, with total assets of $1.36 billion as of June 30, 2021, operates 16 banking centers and one brokerage office in Ohio. This announcement underscores Middlefield Banc Corp.'s commitment to returning value to its shareholders amidst ongoing economic challenges.

Middlefield Banc Corp. (MBCN) reported record earnings for the first half of 2021, with net income of $8.6 million ($1.35 per diluted share) driven by a strong second quarter performance of $4.4 million ($0.70 per diluted share). The net interest margin improved to 3.72% from 3.56% year-over-year, while pre-tax, pre-provision income rose 35.4% to $11.4 million. Total noninterest income increased by 49.9% to $3.9 million. The company successfully managed low interest rates, achieving a return on average assets of 1.26% and controlling operating expenses, despite economic uncertainties.

Middlefield Banc Corp. (NASDAQ: MBCN) announced that President and CEO Thomas G. Caldwell will retire on March 31, 2022. Caldwell, who has served for 26 years, will complete his term as a director at the company's 2022 annual meeting. The company is conducting an internal and external search for his successor as part of its succession plan. Under Caldwell's leadership, the bank expanded from three to 16 offices, significantly increased assets from $134.6 million in 1995 to $1.39 billion by March 2021, and achieved a market capitalization of $153 million as of June 1, 2021.

Middlefield Banc Corp. (NASDAQ: MBCN) has declared a quarterly cash dividend of $0.16 per share, payable on June 15, 2021, to shareholders of record on June 4, 2021. The company's total assets reached $1.39 billion as of March 31, 2021. Middlefield Banc Corp. operates 16 full-service banking centers and has a significant local presence in various Ohio communities.

Middlefield Banc Corp. (MBCN) reported record net income of $4.2 million, or $0.65 per diluted share, for Q1 2021, reflecting a significant recovery post-COVID. The net interest margin improved to 3.73%, while total noninterest income surged 106.5% to $2.2 million. Return on average assets rose to 1.22%, and efficiency ratio improved to 57.91%. The quarter saw a 6.7% increase in cash dividends to $0.16 per share. Total assets grew 14.3% to $1.39 billion, bolstered by a strong demand for PPP loans, which reached $145 million, supporting over 12,000 jobs.

Middlefield Banc Corp. (NASDAQ: MBCN) announced a quarterly cash dividend of $0.16 per share, a 6.7% increase from Q1 2020. This dividend is payable on March 15, 2021, to shareholders on record as of March 4, 2021. This increase marks the fourth rise in the past five years, reflecting the company's commitment to shareholder value.

As of December 31, 2020, Middlefield Banc Corp. held total assets of $1.39 billion and operates 16 banking centers across several locations.

Middlefield Banc Corp. (NASDAQ: MBCN) reported a 34.3% decline in net income to $8.3 million for 2020, attributed to a $9.0 million increase in loan loss provisions due to COVID-19 impacts. Despite this, net interest income rose by 4.8% to $43.4 million, and total loans increased 12.2% to $1.10 billion. Noninterest income also improved 23.7% to $6.0 million. The company's book value reached a record $22.54 per share, while total assets surged 17.7% to $1.39 billion. The allowance for loan losses rose 98.9%, indicating a stronger focus on asset quality amidst the pandemic.

Middlefield Banc Corp. (NASDAQ: MBCN) has announced the resumption and increase of its stock repurchase program, originally suspended due to the COVID-19 pandemic. The board authorized an increase of 157,032 shares, bringing the total repurchase authorization to 300,000 shares, approximately 4.7% of its outstanding shares. President Thomas G. Caldwell indicated confidence in the company’s valuation and financial strength, emphasizing that the program aims to enhance shareholder value. The program allows repurchases at management's discretion without additional board approval.

Middlefield Banc Corp. (NASDAQ: MBCN) declared a quarterly cash dividend of $0.15 per common share, payable on December 15, 2020, to shareholders of record by December 4, 2020. With total assets of $1.36 billion as of September 30, 2020, Middlefield operates 16 banking centers across various locations in Ohio and maintains a Loan Production Office in Mentor. This dividend payment reinforces the company's commitment to returning value to shareholders.