MBCN Research | Milton Maxwell

MBCN

Middlefield Banc Corp.

37.00

+0.09+0.24%

Dec 16, 4:00:01 PM EST

Upcoming Earnings

Report date

≈ -/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

299.21M

P/E (TTM)

14.18

Basic EPS (TTM)

2.61

Dividend Yield

0.02%

Recent Filings

8-K

Accelerates exec equity vesting

2/25/26Feb 25, 2026

Middlefield Banc Corp.'s Compensation Committee accelerated full vesting of all outstanding plan share awards under its 2017 Omnibus Equity Plan on February 23, 2026, ahead of its pending merger with Farmers National Banc Corp. CEO Ronald L. Zimmerly, Jr. received 58,626 shares across RSUs and PSUs at maximum performance. Executives now hold vested equity. This aligns incentives as the deal advances.

8-K

SERPs terminated pre-merger

2/12/26Feb 12, 2026

Middlefield Banc Corp. terminated three SERPs for CEO Ronald L. Zimmerly, Jr. effective February 9, 2026, ahead of its pending merger with Farmers National Banc Corp. Zimmerly receives deferred compensation, including seven bank-owned annuities worth $833,864, paid pre-merger close. Board acted swiftly. Termination aligns executive pay with merger terms.

8-K

2025 profits rise 25%

2/10/26Feb 10, 2026

Middlefield Banc Corp. posted 2025 net income of $19.4 million, up from $15.5 million, with net interest income climbing $7.8 million to $68.5 million on a 3.80% margin. Assets hit $1.90 billion, loans $1.59 billion; Q4 dipped to $3.1 million amid $1.8 million merger costs. Merger with Farmers National Banc closes Q1 2026. Nonperformers plunged to $17 million.

8-K

Shareholders approve merger

2/10/26Feb 10, 2026

Middlefield Banc Corp. shareholders overwhelmingly approved the merger with Farmers National Banc Corp. on February 10, 2026, with 6.3 million votes for versus 367k against on the merger proposal—85% turnout. The deal, inked October 22, 2025, eyes Q1 2026 close, pending customary conditions. Closing hinges on those conditions.

8-K

Holds $0.21 dividend steady

2/9/26Feb 9, 2026

Middlefield Banc Corp. declared a quarterly cash dividend of $0.21 per common share on February 9, 2026, matching the prior quarter's payout. Payable February 27 to record holders on February 17, it signals steady capital return amid $1.98 billion assets. Dividend holds firm.

About

Middlefield Banc Corp. operates as the bank holding company for The Middlefield Banking Company that provides various commercial banking services to small and medium-sized businesses, professionals, small business owners, and retail customers in northeastern and central Ohio. The company offers checking, savings, and negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks. It also provides operational and working capital, term business, residential construction, professional, and residential and mortgage loans, as well as consumer installment loans for home improvements, automobiles, boats, and other personal expenditures; loans to finance capital purchases; selected guaranteed or subsidized loan programs for small businesses; and agricultural loans. In addition, the company resolves and disposes troubled assets in Ohio. Further, it offers official checks, money orders, and ATM services, as well as IRA accounts; online banking and bill payment services to individuals; and online cash management services to business customers. Middlefield Banc Corp. was founded in 1901 and is headquartered in Middlefield, Ohio.

CEO

Mr. Ronald L. Zimmerly Jr.

IPO

2/27/2003

Website

https://www.middlefieldbank.bank

Employees

246

Sector

Financial Services

Industry

Banks - Regional