MIDDLEFIELD, OHIO Middlefield Banc Corp. (Pink Sheets: MBCN) today announced that the company’s board of directors has declared a quarterly cash dividend of $0.26 per common share payable on March 13, 2009, to shareholders of record on February 27, 2009. This cash dividend represents a 4.0% increase over the cash dividend paid by Middlefield Banc Corp. in the first quarter of 2008 and equals the cash dividend paid during the fourth quarter of 2008.
Thomas G. Caldwell, President and Chief Executive Officer of Middlefield, commented, “Although there is a great deal of unrest within the financial markets, we are pleased to continue a pattern of positive earnings and to maintain a strong cash dividend. The confidence that our investors have placed in our stewardship is sincerely appreciated and we will continue our efforts to provide a proper return for that trust.”
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a financial holding company with total assets of $467.8 million. Its subsidiary, The Middlefield Banking Company, operates full service banking centers and a UVEST Financial Services® brokerage office serving Chardon, Cortland, Garrettsville, Mantua, Middlefield, Newbury and Orwell, Ohio. The company also serves the central Ohio market through its Emerald Bank subsidiary, with offices in Dublin and Westerville, Ohio. Additional information is available at www.middlefieldbank.com and www.emeraldbank.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.