MBCN
Middlefield Banc Corp.37.00
+0.09+0.24%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
299.21MP/E (TTM)
14.18Basic EPS (TTM)
2.61Dividend Yield
0.02%Recent Filings
8-K
Exec bonuses and vesting accelerated
Middlefield Banc's Compensation Committee approved hefty bonuses on December 8, 2025, payable December 26: $230,987 for CEO Zimmerly, $105,594 for CFO Ranttila, and $85,795 for Chief Banking Officer Cheravitch, plus $40,000, $19,000, and $11,000 at the holding company level. They accelerated vesting of 2023 restricted stock—4,653 shares for Zimmerly, 3,558 for Ranttila—by year-end. Executives grab performance shares early too. Bonuses reward performance.
8-K
Steady $0.21 dividend declared
10-Q
Q3 FY2025 results
Middlefield Banc Corp. posted solid Q3 results, with net interest income climbing 16.5% year-over-year to $17.6M on a 33-basis-point expansion of net interest margin to 3.79%, fueled by higher loan yields and lower funding costs as FHLB advances dropped. Loans grew 5.8% year-to-date to $1.61B, driven by owner-occupied commercial real estate and commercial & industrial segments, while deposits surged 12.2% to $1.62B, boosting liquidity to $103.7M in cash equivalents. Net income hit $5.3M, or $0.65 diluted EPS—up 127% from last year—thanks to a slim $392K provision for credit losses versus $2.2M prior, with non-GAAP metrics not disclosed in the 10-Q. Free cash flow stood at $13.4M (derived) after $4.3M capex. Yet nonperforming loans ticked up to 1.86% of total, signaling persistent credit pressures in a softening economy.
8-K
Middlefield merges into Farmers
Middlefield Banc Corp. agreed to merge with Farmers National Banc Corp. on October 22, 2025, converting each Middlefield share into 2.60 Farmers shares. Closing targeted for Q1 2026, pending shareholder and regulatory nods; Farmers adds two Middlefield directors post-merger. Termination fee: $12M if Middlefield walks.
8-K
Merger creates $7.4B bank
Middlefield Banc Corp. agreed to merge with Farmers National Banc Corp. in an all-stock deal, converting each Middlefield share into 2.6 Farmers shares at a $299.0 million valuation based on October 20, 2025 prices. The transaction, expected to close by Q1 2026 pending approvals, combines assets to $7.4 billion across 83 branches in Ohio and Pennsylvania, boosting scale and market reach. Integration risks loom large.
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