The Middlefield Banking Company Enhances Northeast Ohio Market Commercial Lending Team with the Addition of Two Experienced Bankers

The Middlefield Banking Company, a wholly owned subsidiary of Middlefield Banc Corp. (NASDAQ: MBCN), today announced that the company has added two experienced commercial lenders within its Northeast Ohio market.

Jack Gregorin has joined the company as a Vice President/Commercial Lender and will be serving corporate customers out of Middlefield’s Beachwood, Ohio location. Most recently, Mr. Gregorin was Vice President, Corporate Banking at Dollar Bank, and has over 35 years of banking experience. Mr. Gregorin is a graduate of the University of Dayton. He serves on the finance committee of the United Way of Lake County and is a member of the Board of Trustees for Beacon Health.

Robert Naegele has joined the company as a Vice President/Commercial Lender and will be serving corporate customers out of Middlefield’s Mentor, Ohio Loan Production Office. Most recently, Mr. Naegele was Vice President, Ohio West Region at Charter One, and has nearly 15 years of banking experience.

Thomas G. Caldwell, President and CEO, said, “I am happy to announce the additions of Jack and Bob to our commercial banking team. Jack and Bob are both experienced commercial bankers that are well positioned to support customers in the Beachwood and Mentor markets. As a relationship based lender, Middlefield supports local businesses through its community-oriented banking values. This focus resonates within our markets and provides Middlefield with a differentiated value proposition, especially in larger, competitive markets like Beachwood and Mentor. Middlefield has a strong balance sheet, excellent credit quality, and excellent growth prospects, and I look forward to Jack and Bob’s future contributions to growing our loan portfolio.”

Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a bank holding company with total assets of $1.08 billion at September 30, 2017. The bank operates 14 full-service banking centers and an LPL Financial® brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio. Additional information is available at www.middlefieldbank.bank.

This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Middlefield Banc Corp.’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.’s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.

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Company Contact:
Middlefield Banc Corp.
Thomas G. Caldwell, 440-632-1666 Ext. 3200
President/Chief Executive Officer
[email protected]
or
Investor and Media Contact:
SM Berger & Company, Inc.
Andrew M. Berger, 216-464-6400
Managing Director
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