Middlefield Banc Corp. (MBCN): history, ownership, mission, how it works & makes money

A Brief History of Middlefield Banc Corp. (MBCN)

Founding and Early Years

Middlefield Banc Corp. was established in 1988 and is headquartered in Middlefield, Ohio. Initially, the company focused on providing banking services to the local community. The organization began its journey as a traditional community bank with a commitment to serving its clients with personalized services.

Mergers and Acquisitions

Over the years, Middlefield Banc Corp. expanded its footprint through strategic mergers and acquisitions.

• In 2000, MBCN acquired First National Bank of Middlefield.
• In 2002, the corporation integrated Farmers State Bank.
• In 2016, MBCN completed the acquisition of Ohio Legacy Bank.

Financial Performance

As of 2023, Middlefield Banc Corp. reported assets totaling approximately $1.1 billion. The company’s net income for the year reached approximately $11 million, reflecting a steady growth in profitability.

Stock Performance

Middlefield Banc Corp. is publicly traded on the NASDAQ under the ticker symbol MBCN. The stock price in 2023 has ranged from approximately $18 to $25. As of October 2023, the stock was trading at around $21.50.

Community Involvement

MBCN has maintained a strong commitment to community development. Over the years, the corporation has contributed over $2 million to various local initiatives, including education, health services, and economic development programs.

Recent Developments

In 2023, Middlefield Banc Corp. launched a new digital banking platform, enhancing customer experience and accessibility. It reported that over 30% of its customer base actively uses this platform for their banking needs.

A Who Owns Middlefield Banc Corp. (MBCN)

Institutional Ownership

As of the last reported filings, institutional ownership plays a significant role in Middlefield Banc Corp. (MBCN). Key figures include:

Insider Ownership

Insider ownership includes shares held by the company's executives and board members. The statistics present an overview of their stakes in the company:

Major Shareholders

The distribution of shares among major shareholders indicates the concentration of ownership within the corporation:

Recent Stock Performance

Middlefield Banc Corp. (MBCN) has demonstrated performance that reflects the ownership dynamics:

• Current Stock Price: $29.87
• Market Capitalization: $194 million
• 52-Week High: $31.00
• 52-Week Low: $24.50
• Dividend Yield: 2.5%

Key Financial Figures

Financial metrics crucial to understanding the ownership implications and corporate health include:

• Total Assets: $1.4 billion
• Total Liabilities: $1.3 billion
• Shareholder Equity: $100 million
• Return on Assets (ROA): 0.75%
• Return on Equity (ROE): 8.25%

Conclusion on Ownership Structure

The ownership structure of Middlefield Banc Corp. combines institutional investments, insider stakes, and major shareholders, reflecting a diverse array of ownership that shapes its strategic direction.

Middlefield Banc Corp. (MBCN) Mission Statement

Corporate Vision

The mission of Middlefield Banc Corp. is to deliver personalized banking solutions and exceptional service, enhancing the quality of life for customers and communities.

Core Values

• Customer Commitment: Understanding and meeting the needs of customers.
• Integrity: Conducting all aspects of business ethically and transparently.
• Community Engagement: Investing in the communities served through financial support and volunteerism.
• Innovation: Embracing change and implementing new technologies to serve customers better.

Financial Performance

As of the end of Q3 2023, Middlefield Banc Corp. reported the following financial metrics:

Commitment to Technology

Middlefield Banc Corp. recognizes the importance of technology in serving its customers effectively. Key investments include:

• Digital Banking Platform: Launched in 2022, enabling customers to manage accounts seamlessly online.
• Mobile App: Over 20,000 downloads since release, providing on-the-go banking capabilities.
• Cybersecurity Measures: $500,000 allocated for enhancing security protocols in 2023.

Community Involvement

The corporation actively participates in local community initiatives, donating over $200,000 annually to various causes. Recent contributions include:

Strategic Goals

Middlefield Banc Corp.’s strategic goals for the upcoming fiscal year include:

• Increase total assets by 10%.
• Expand lending services by 15%.
• Enhance customer satisfaction ratings to above 90%.
• Strengthen community partnerships by supporting 5 new local initiatives.

How Middlefield Banc Corp. (MBCN) Works

Company Overview

Middlefield Banc Corp. (MBCN) operates as a bank holding company, primarily focused on retail banking services in Ohio. Established in 1975, MBCN is headquartered in Middlefield, Ohio. The company provides various financial services through its subsidiary, The Middlefield Banking Company, including personal and commercial banking solutions, mortgage loans, and trust services.

Financial Performance

As of the fiscal year ending December 31, 2022, Middlefield Banc Corp. reported the following financial data:

Business Segments

MBCN operates through several key business segments, ensuring a diversified revenue stream:

• Retail Banking
• Commercial Banking
• Mortgage Banking
• Wealth Management

Retail Banking Services

The retail banking division offers a range of services including:

• Savings and Checking Accounts
• Personal Loans
• Credit and Debit Cards
• Online Banking Services

Commercial Banking Services

For business clients, MBCN provides:

• Business Checking Accounts
• Commercial Loans
• Lines of Credit
• Merchant Services

Mortgage Banking

Middlefield Banc Corp. is also actively involved in mortgage banking, offering:

• Fixed-Rate Mortgages
• Adjustable-Rate Mortgages
• Refinancing Options
• Home Equity Lines of Credit

Wealth Management

The wealth management segment provides comprehensive services, which include:

• Investment Management
• Financial Planning
• Trust Services
• Retirement Planning

Market Position

As of 2022, MBCN holds a significant position in the Ohio banking market. The company consistently competes with regional banks and provides personalized banking solutions. Key statistics include:

Regulatory Environment

As a federally chartered institution, Middlefield Banc Corp. is subject to regulations from both state and federal agencies, including the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC). Compliance with these regulations ensures consumer protection and financial stability.

Recent Developments

In 2023, Middlefield Banc Corp. launched several initiatives aimed at improving customer experience and expanding digital banking capabilities. The company invested in technology upgrades, focusing on:

• Mobile Banking Enhancements
• Online Account Opening
• Cybersecurity Improvements

How Middlefield Banc Corp. (MBCN) Makes Money

Revenue Streams

Middlefield Banc Corp. generates its income from various sources, with the most significant being:

• Interest Income
• Non-Interest Income

Interest Income

Interest income constitutes a substantial portion of MBCN's revenue, primarily derived from loans and investments. For the year ended December 31, 2022, MBCN reported total interest income of approximately $22.6 million.

Loan Portfolio

MBCN holds a diverse loan portfolio that includes:

• Commercial Loans: As of September 30, 2023, the total amount in commercial loans stood at approximately $81.5 million.
• Residential Mortgages: The residential mortgage loans amounted to about $109.3 million.
• Consumer Loans: Consumer loans accounted for roughly $12.8 million.

Investment Securities

As of the latest quarterly report, the bank's investment securities portfolio totaled approximately $150.5 million, contributing to the overall interest income through yields from government and corporate bonds.

Non-Interest Income

Non-interest income is another crucial component of MBCN's revenue generation. This includes fees, service charges, and other operational income. For the year ended December 31, 2022, MBCN reported non-interest income of approximately $3.6 million.

Fee-Based Services

Middlefield Banc Corp. generates additional revenue through various fee-based services:

• Service Charges on Deposits: Approximately $1.5 million.
• Investment Advisory Fees: Contributed around $0.9 million.
• Mortgage Banking Fees: Reported at about $0.8 million.

Expense Management

MBCN maintains a focus on managing expenses to enhance profitability. The total non-interest expenses for the year ended December 31, 2022, were approximately $18.2 million.

Net Interest Margin

The net interest margin is a vital metric for MBCN’s profitability. As of the latest financial reporting, MBCN's net interest margin was approximately 3.2%.

Recent Financial Performance

In the third quarter of 2023, Middlefield Banc Corp. reported a net income of $2.1 million, reflecting a year-over-year increase driven by loan growth and improved net interest income.

Market Position

Middlefield Banc Corp. operates primarily in the state of Ohio with a strategic focus on community banking and local market penetration. The bank has a network of 9 branches as of the latest report.

Conclusion

Through a combination of interest and non-interest income, effective expense management, and strategic market positioning, Middlefield Banc Corp. continues to strengthen its financial performance in the community banking sector.