Middlefield Banc Corp (OQ:MBCN)

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 15985 E High St
PO Box 35
MIDDLEFIELD OH 44062-0035
Tel: N/A
Website: https://ir.middlefieldbank.com
IR: See website
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Key People
Ronald L. Zimmerly
President, Chief Executive Officer, Director
Michael C. Ranttila
Chief Financial Officer, Executive Vice President - Middlefield, Treasurer
Alfred F. Thompson
Executive Vice President, Chief Credit Officer
Michael L. Allen
Executive Vice President, Chief Banking Officer
Courtney M. Erminio
Executive Vice President, Chief Risk Officer
 
Business Overview
Middlefield Banc Corp. is a bank holding company. The Company's subsidiaries include The Middlefield Banking Company (MBC) (the Bank) and EMORECO Inc. MBC is engaged in the general commercial banking business in northeastern, central, and western Ohio. MBC offers customers a range of banking services, including checking, savings, negotiable order of withdrawal (NOW) accounts, money market accounts, time deposits, commercial loans, real estate loans, a variety of consumer loans, safe deposit facilities, and travelers' checks. MBC offers online banking and bill payment services to individuals and online cash management services to business customers through its Website at www.middlefieldbank.bank. The Bank operates approximately 22 full-service banking centers and a financial brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Plain City, Powell, Solon and Westerville. MBC also operates a loan production office in Mentor, Ohio.
Financial Overview
For the fiscal year ended 31 December 2023, Middlefield Banc Corp interest income increased 64% to $90.3M. Net interest income after loan loss provision increased 24% to $62.2M. Net income increased 11% to $17.4M. Net interest income after loan loss provision reflects Interest and fees on loans increase of 69% to $82M, Interest-bearing deposits in other insti increase from $472K to $1.3M.
Employees: 238 as of Dec 31, 2022
Reporting Currency: U.S. Dollars
Enterprise value: $148.94M as of Dec 31, 2023
Annual revenue (TTM): $90.30M as of Dec 31, 2023
EBITDA (TTM): $29.80M as of Dec 31, 2023
Net annual income (TTM): $17.37M as of Dec 31, 2023
Free cash flow (TTM): N/A
Net Debt Last Fiscal Year: N/A
Shares outstanding: 8,095,252 as of Dec 31, 2023
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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