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 June 15, 2007, to shareholders of record on June 1, 2007. Adjusted for a 5% stock dividend paid in the fourth quarter of 2006, this cash dividend represents a 7.2% increase over the dividend paid by Middlefield Banc Corp. in the second quarter of 2006.
Middlefield Banc Corp. is a financial holding company headquartered in Middlefield, Ohio. Its subsidiary, The Middlefield Banking Company, operates full service banking centers and a UVEST Financial Services® brokerage office serving Chardon, Garrettsville, Mantua, Middlefield, Newbury, and Orwell, as well as a loan production office in Cortland, Ohio. On April 19, 2007, Middlefield Banc Corp. completed its acquisition of Emerald Bank, headquartered in Dublin, Ohio. Further 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.