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 September 15, 2009, to shareholders of record on August 31, 2009. This cash dividend represents an amount equal to that paid in the prior quarter of 2009 as well as the amount paid during the third quarter of 2008.
Thomas G. Caldwell, President and Chief Executive Officer of Middlefield, commented, “We are very aware that many banks have greatly reduced, and in some cases eliminated, the payment of dividends as they work to address capital concerns. Although our capital levels have remained strong, our board has considered many options relative to quarterly dividends. The decision to declare a cash dividend for the third quarter is evidence of our financial strength and profitability, as well as our commitment to reward our shareholders for the confidence and support that they have shown in Middlefield Banc Corp.”
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a financial holding company with total assets in excess of $475 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.