MIDDLEFIELD, OHIO, Middlefield Banc Corp. (Pink Sheets: MBCN) today announced that the company’s board of directors has declared a quarterly cash dividend of $0.24 per common share payable on September 15, 2006, to shareholders of record on September 1, 2006. This dividend represents a 7.1% increase over the dividend paid by Middlefield Banc Corp. in the third quarter of 2005.
Middlefield Banc Corp. and The Middlefield Banking Company are headquartered in Middlefield, Ohio. With assets in excess of $315 million, the bank operates full service banking centers and a UVEST Financial Services® brokerage office serving Chardon, Garrettsville, Mantua, Middlefield, and Orwell, Ohio. The banking subsidiary has entered into a lease for a banking office in Newbury, Ohio, which is presently under construction. Additional information is available at www.middlefieldbank.com.
This announcement contains forward-looking statements that involve risk and uncertainties, including changes in general economic and financial market conditions and the Company's ability to execute its business plans. Although management believes the expectations reflected in such statements are reasonable, actual results may differ materially.