MIDDLEFIELD, Ohio, August 13, 2021 (GLOBE NEWSWIRE) – Middlefield Banc Corp. (NASDAQ: MBCN) announced today that its Board of Directors has approved an additional capacity to repurchase shares in the Company’s repurchase program (the “” program “).

“With strong levels of capital and excess liquidity, we believe that investing in our common stock through forced valuations is a good return for our shareholders. In addition, the enhanced repurchase program demonstrates our confidence in the strength of our business and our ongoing commitment to value our shareholders. “Since April 2019, we have repurchased 527,143 shares of our total stock at an average price of $ 18.52 per share,” said Thomas G., CEO and CEO of Midfieldfield.

On August 9, 2021, the Midfield Board of Directors authorized the Company to repurchase an additional 300,000 shares under the program. With the Board’s approval of November 9, 2020, the plan, with 28,721 shares available for redemption, allows the Company to repurchase a total of 328,721 shares, or approximately 5.4% of the Company’s 6,128,907 outstanding shares as of August 9, 2021. may be modified, suspended or terminated by the Company at any time.

The increased share repurchase authorization allows the Company to increase the value of its shares և to manage its capital. The board’s action will allow management to buy back without further board approval when stock purchases are considered reasonable. The Board believes that the program is a strong corporate financing strategy that can increase the long-term value of shareholders. The redemption of shares will be carried out regularly by the laws of securities, allowed by other legal requirements, will be subject to market conditions, as well as other factors. Repurchases can be made in the open market, through blockchain, or otherwise as well as through bargaining. Stock purchases can start or stop at any time without notice.

About Middlefield Banc Corp.
Middlefield Banc Corp., headquartered in Midfield, Ohio, is a holding company of The Middlefield Banking Company, with assets totaling $ 1.36 billion as of June 30, 2036. The bank operates 16 full service banking centers և LPL Financial® brokerage office, which serves Beachwood, Chardon, Cortland, Dublin, Garetsville, Mantua, Midfield, Newber, Orwell, Plain City, Powell, Solon, Sanber, Sanber. The Bank also has a Loan Production Office in Mentor, Ohio.

More information is available at www.middlefieldbank.bank

This message from Middlefield Banc Corp. Middle The reports from Middlefield Banc Corp. submitted to the Securities and Exchange Commission often contain ‘outlook statements’ concerning the banking sector, in particular current or future trends or factors influencing financial operations, Middlefield Banc Markets and products of Corp. These prospective statements involve certain risks and uncertainties. There are a number of possible factors that may cause Middlefield Banc Corp.’s future results to differ significantly from the historical performance or the projected performance. These factors include, but are not limited to: (1) Significant increase in competitive pressures between financial institutions; (2) interest rate environment changes that may reduce interest margins; 3) Changes in prepayment rates, repayments, loan loss reserves; (4) Unfavorable general economic conditions; (5) legislative or regulatory changes that may adversely affect the enterprises of Middlefield Banc Corp. 6) Technological issues that may adversely affect the financial operations or customers of Middlefield Banc Corp. (7) The impact of the COVID-19 epidemic, including our credit quality և business, as well as its impact on overall economic and financial market conditions. (8) changes in securities markets; or (9) the risk factors reported in the reports և Middlefield Banc Corp. in the reports of the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to review these prospective statements or to reflect events or circumstances as of the date of this press release.

Company Contact:

Contact with investors և media.

Thomas G. Cold
President / Chief Executive Officer
Middlefield Banc Corp.
(440) 632-1666 Additional 3200
tcaldwell@middlefieldbank.com:

Andrew M. Bergers
Executive Director
SM Berger & Company, Inc.
(216) 464-6400:
andrew@smberger.com: