Middlefield Banc Corp. Announces Third Quarter 2010 Cash Dividend

Aug 11, 2010, 06:57 ET from Middlefield Banc Corp.

MIDDLEFIELD, Ohio, Aug. 11 /PRNewswire-FirstCall/ -- Middlefield Banc Corp. (Pink Sheets: MBCN) today announced that the company's board of directors has declared a quarterly cash dividend of $0.26 per common share payable on September 15, 2010, to shareholders of record on August 31, 2010.  This cash dividend represents an amount equal to that paid in the prior two quarters of 2010 as well as the amount paid during the third quarter of 2009.    

Thomas G. Caldwell, President and Chief Executive Officer of Middlefield, commented,

"We are pleased to continue a pattern of positive earnings and to maintain a strong cash dividend.  The confidence that our investors have placed in our stewardship is sincerely appreciated and we will continue our efforts to provide a proper return for that trust."

Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a financial holding company with total assets in excess of $606 million.  Its subsidiary, The Middlefield Banking Company, operates full service banking centers and a UVEST Financial Services® brokerage office serving Chardon, Cortland, Garrettsville, Mantua, Middlefield, Newbury and Orwell, Ohio.  The company also serves the central Ohio market through its Emerald Bank subsidiary, with offices in Dublin and Westerville, Ohio.  Additional information is available at www.middlefieldbank.com and www.emeraldbank.com.

This announcement contains forward-looking statements that involve risk and uncertainties, including changes in general economic and financial market conditions and the Company's ability to execute its business plans.  Although management believes the expectations reflected in such statements are reasonable, actual results may differ materially.    

Contact:   James R. Heslop, 2nd

                Executive Vice President/Chief Operating Officer

                (440) 632-1666 Ext. 3219    


SOURCE Middlefield Banc Corp.