Financial Performance - For the third quarter of 2025, diluted earnings per share increased to $0.65, contributing to year-to-date earnings of $2.01 per share, compared to $1.32 per share for the same period last year[4][9]. - Net income for Q3 2025 was $5,320,000, compared to $4,830,000 in Q3 2024, which is an increase of 10.1%[27]. - Basic net income per common share for Q3 2025 was $0.66, up from $0.60 in Q3 2024, representing a 10% increase[28]. - The dividend declared per share for Q3 2025 was $0.21, consistent with Q3 2024, maintaining a stable dividend policy[28]. Loan and Asset Growth - Total loans reached a record $1.61 billion, reflecting a year-over-year increase of 6.8%, primarily driven by growth in commercial and industrial loans[4][10]. - Commercial and industrial loans increased by $56.3 million, or 26.4% year-over-year, contributing significantly to overall loan growth[13]. - Net loans reached $1,583,995,000, an increase of 1.5% from $1,559,590,000 in the prior quarter[26]. - Total assets increased by 6.5% year-over-year to a record $1.98 billion, up from $1.86 billion at the same time last year[10][12]. - Total assets as of September 30, 2025, were $1,947,888,000, compared to $1,851,490,000 in 2024, indicating an increase of 5.20%[34]. Income and Expenses - Net interest income for the third quarter increased by 16.5% to $17.6 million, with a net interest margin of 3.79%, up from 3.46% in the same quarter of 2024[6][4]. - Total interest and dividend income for Q3 2025 was $27,608,000, an increase from $25,473,000 in Q3 2024, representing a year-over-year growth of 8.4%[27]. - Total noninterest expense for Q3 2025 was $13,098,000, up from $12,193,000 in Q3 2024, marking a 7.4% increase[27]. - Noninterest income for the nine months ended September 30, 2025, rose to $7.3 million, an increase of $2.0 million compared to the same period in 2024[7]. Equity and Dividends - Stockholders' equity increased by 6.4% year-over-year to $224.1 million, with a per-share value of $27.71, compared to $26.11 at September 30, 2024[14]. - The company declared cash dividends of $0.63 per share for the nine months ended September 30, 2025, reflecting a 5% increase from the previous year's dividend[16]. - Stockholders' equity increased to $224,120,000, compared to $216,052,000 in the previous quarter, marking a growth of 3.1%[26]. Asset Quality and Risks - Nonperforming loans remained stable at $29.9 million, consistent with $30.1 million at September 30, 2024, indicating strong asset quality[21][22]. - The allowance for credit losses was $23,029,000, slightly up from $22,335,000 in the prior quarter[26]. - The company noted potential risks including competitive pressures and changes in the interest rate environment that could impact future performance[25]. Operational Developments - The company is on track to open a relocated office in Westerville in the fourth quarter of 2025, as part of its strategy to expand in Central Ohio[5]. - The company has no obligation to release revisions to forward-looking statements, indicating a cautious approach to future projections[25].

Core Insights - Middlefield Banc Corp. has appointed Tim Oyster as VP, Western Ohio Commercial Relationship Manager to enhance its commercial banking operations and client services [2][3] Company Overview - Middlefield Banc Corp. is headquartered in Middlefield, Ohio, and serves as the bank holding company for The Middlefield Banking Company, with total assets of $1.92 billion as of June 30, 2025 [4] - The bank operates 21 full-service banking centers and a brokerage office, serving multiple locations across Ohio [4] Leadership and Experience - Tim Oyster brings 26 years of banking and finance experience, previously serving as Vice President of Commercial Lending at The Fahey Banking Company from 2021 to 2025 [3] - Oyster has held positions at Premier Bank, Union Savings Bank, and PNC Bank, and is actively involved in community service [3]

Middlefield Banc Corp. (MBCN) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term st ...

Company Overview - Middlefield Banc Corp. (MBCN) shares increased by 15.4% to $33.35 in the last trading session, following a period of 4.5% loss over the past four weeks, indicating a significant turnaround in investor sentiment [1] - The company is expected to report quarterly earnings of $0.64 per share, reflecting a year-over-year increase of 120.7%, with revenues projected at $19.7 million, up 17.1% from the previous year [3] Earnings Estimates and Revisions - The consensus EPS estimate for Middlefield Banc has been revised 17.4% higher in the last 30 days, suggesting a positive trend that typically correlates with stock price appreciation [4] - Empirical research indicates that trends in earnings estimate revisions are strongly linked to near-term stock price movements, highlighting the importance of monitoring these changes [3] Industry Context - Federal Reserve Chair Jerome Powell's indication of a potential rate cut as early as September has positively impacted the banking industry, as it may lower funding and deposit costs, thereby improving lending conditions [2] - The banking sector's positive response to the Fed's shift from a "higher-for-longer" stance to a more flexible approach has contributed to the recent increase in MBCN stock [2] - Middlefield Banc is part of the Zacks Banks - Northeast industry, where Metropolitan Bank Holding Corp. (MCB) also operates, with MCB's stock closing 5.8% higher at $76.92 in the last session [4]

[Part I – Financial Information](index=3&type=section&id=Part%201%20%E2%80%93%20Financial%20Information) This section presents the unaudited financial information for the company, including detailed financial statements and management's discussion and analysis [Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20%28unaudited%29) Unaudited financial statements for Q2 and 6M 2025 show increased assets, net income, and equity, driven by loan growth and net interest income [Consolidated Balance Sheet](index=4&type=section&id=Consolidated%20Balance%20Sheet) Total assets grew to $1.92 billion by June 30, 2025, fueled by loan and deposit increases, with stockholders' equity also rising Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $72,846 | $55,792 | | Net loans | $1,559,590 | $1,497,167 | | Total Assets | $1,924,369 | $1,853,359 | | **Liabilities & Equity** | | | | Total deposits | $1,593,618 | $1,445,693 | | Federal Home Loan Bank advances | $89,000 | $172,400 | | Total Liabilities | $1,708,317 | $1,642,797 | | Total Stockholders' Equity | $216,052 | $210,562 | [Consolidated Statement of Income](index=5&type=section&id=Consolidated%20Statement%20of%20Income) Net income significantly increased for both Q2 and the first six months of 2025, driven by higher net interest income and a real estate gain Key Income Statement Data (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Interest Income | $17,437 | $15,083 | $33,535 | $30,052 | | Provision for (Recovery of) Credit Losses | ($506) | $87 | ($411) | ($49) | | Noninterest Income | $3,078 | $1,760 | $5,022 | $3,556 | | Noninterest Expense | $13,651 | $11,902 | $25,844 | $23,867 | | **Net Income** | **$6,157** | **$4,164** | **$10,987** | **$8,331** | | **Diluted EPS** | **$0.76** | **$0.52** | **$1.36** | **$1.03** | [Consolidated Statement of Comprehensive Income (Loss)](index=7&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income%20%28Loss%29) Comprehensive income for Q2 and 6M 2025 was lower than net income due to unrealized losses on available-for-sale securities Comprehensive Income (Loss) Summary (in thousands) | Metric | Q2 2025 | Q2 2024 | Six Months 2025 | Six Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net Income | $6,157 | $4,164 | $10,987 | $8,331 | | Other Comprehensive Loss (net of tax) | ($2,497) | ($1,338) | ($2,864) | ($3,378) | | **Comprehensive Income (Loss)** | **$3,660** | **$2,826** | **$8,123** | **$4,953** | [Consolidated Statement of Changes in Stockholders' Equity](index=8&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity increased by June 30, 2025, primarily due to net income, despite offsetting dividends and comprehensive losses - For the six months ended June 30, 2025, total stockholders' equity increased by **$5.5 million**, reflecting the balance of net income, dividends, stock grants, and other comprehensive losses[22](index=22&type=chunk) [Consolidated Statement of Cash Flows](index=10&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) Cash and cash equivalents increased for the six months ended June 30, 2025, driven by operating and financing activities, offset by investing Summary of Cash Flows (in thousands) | Activity | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $12,846 | $8,803 | | Net Cash used in Investing Activities | ($56,820) | ($17,942) | | Net Cash from Financing Activities | $61,028 | $561 | | **Net Increase (Decrease) in Cash** | **$17,054** | **($8,578)** | [Notes to Unaudited Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Notes detail accounting policies, loan portfolio growth to $1.58 billion, decreased nonperforming loans, and a settled cyber-attack lawsuit covered by insurance - The total loan portfolio grew to **$1.58 billion** as of June 30, 2025, up from **$1.52 billion** at the end of 2024[66](index=66&type=chunk) - The Allowance for Credit Losses (ACL) on loans decreased slightly to **$22.3 million** at June 30, 2025, from **$22.4 million** at December 31, 2024, driven by portfolio activity, updated assumptions, and the economic outlook[72](index=72&type=chunk) - Nonperforming loans totaled **$25.1 million** as of June 30, 2025, a decrease from **$30.0 million** at December 31, 2024[87](index=87&type=chunk)[146](index=146&type=chunk) - A class action lawsuit related to an April 2023 cyber-attack was settled, with payments issued on May 15, 2025, and losses, including attorney fees and settlement costs, were within the coverage limits of the company's **$3 million** cyber risk insurance policy[103](index=103&type=chunk) [Management's Discussion and Analysis (MD&A)](index=40&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong H1 2025 performance to expanded net interest margin, asset growth, improved asset quality, and robust liquidity and capital [Financial Condition](index=45&type=section&id=Financial%20Condition) Total assets grew to $1.92 billion in H1 2025, driven by loan and deposit increases, while FHLB advances decreased and equity rose Loan Portfolio Changes (in thousands) | Loan Category | June 30, 2025 | Dec 31, 2024 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Commercial and industrial | $257,519 | $229,034 | $28,485 | 12.44% | | Construction and other | $123,531 | $103,608 | $19,923 | 19.23% | | Home equity lines of credit | $156,297 | $143,379 | $12,918 | 9.01% | | **Total loans** | **$1,581,925** | **$1,519,614** | **$62,311** | **4.10%** | Deposit Portfolio Changes (in thousands) | Deposit Category | June 30, 2025 | Dec 31, 2024 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Time Deposits | $334,755 | $247,704 | $87,051 | 35.14% | | Money market | $466,935 | $414,074 | $52,861 | 12.77% | | Interest-bearing demand | $236,239 | $208,291 | $27,948 | 13.42% | | **Total deposits** | **$1,593,618** | **$1,445,693** | **$147,925** | **10.23%** | - The company does not have a concentration in commercial real estate lending as of June 30, 2025, based on regulatory guidance, with commercial real estate loans representing **277.3%** of total risk-based capital, below the **300%** threshold that would trigger heightened scrutiny[135](index=135&type=chunk) [Results of Operations](index=52&type=section&id=Results%20of%20Operations) Net income significantly increased for Q2 and H1 2025, driven by higher net interest income and noninterest income, despite increased noninterest expenses - Net interest margin for the six months ended June 30, 2025, increased by **26 basis points** to **3.79%** compared to the same period in 2024, attributed to higher loan balances and lower costs on borrowings[157](index=157&type=chunk) - Noninterest income for the first six months of 2025 increased by **$1.5 million (41.2%)** year-over-year, primarily due to a **$1.2 million** gain on a real estate exchange and a **$633,000** bank-owned life insurance death benefit[167](index=167&type=chunk) - Noninterest expense for the first six months of 2025 rose by **$2.0 million (8.3%)** year-over-year, mainly due to an **$847,000** increase in salaries and a **$700,000** loss on a property recorded as held for sale[169](index=169&type=chunk) [Liquidity and Capital Resources](index=59&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity and capital, with substantial borrowing capacity and all regulatory capital ratios exceeding 'well-capitalized' standards - At June 30, 2025, the company had additional borrowing capacity of **$389.7 million** at the FHLB and **$149.5 million** at the Federal Reserve discount window[185](index=185&type=chunk) Regulatory Capital Ratios (Middlefield Banc Corp.) | Ratio | As of June 30, 2025 | Well-Capitalized Minimum (Bank only) | | :--- | :--- | :--- | | Leverage | 11.03% | 5.00% | | Common Equity Tier 1 | 11.72% | 6.50% | | Tier 1 Risk Based | 12.20% | 8.00% | | Total Risk Based | 13.45% | 10.00% | [Quantitative and Qualitative Disclosures about Market Risk](index=61&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages interest rate risk, with simulations showing limited impact on net interest income from rate changes within tolerance limits Interest Rate Sensitivity Analysis (June 30, 2025) | Change in Rates | % Change in Net Interest Income (NII) | % Change in Economic Value of Equity (EVE) | | :--- | :--- | :--- | | +200bp | (1.80%) | (2.40%) | | -100bp | 0.90% | (0.60%) | [Controls and Procedures](index=63&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective, with no material changes to internal control over financial reporting - The Chief Executive Officer and Chief Financial Officer have concluded that the Company's disclosure controls and procedures are effective[206](index=206&type=chunk) - No changes occurred in the Company's internal control over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[208](index=208&type=chunk) [Part II – Other Information](index=63&type=section&id=PART%20II%20%E2%80%93%20Other%20Information) This section provides additional disclosures including legal proceedings, risk factors, share repurchases, and other miscellaneous information [Legal Proceedings](index=63&type=section&id=Item%201.%20Legal%20Proceedings) A 2023 cyber-attack lawsuit was settled with costs covered by insurance, and no other legal proceedings are deemed material - A lawsuit related to a 2023 cyber-attack has been settled, and the costs associated with the lawsuit were paid by the insurance company in accordance with the policy[103](index=103&type=chunk)[209](index=209&type=chunk) [Risk Factors](index=63&type=section&id=Item%201a.%20Risk%20Factors) No material updates or changes to the company's risk factors have occurred since the December 31, 2024, Form 10-K report - No material updates or changes in risks faced by the Company have occurred since December 31, 2024[210](index=210&type=chunk) [Share Repurchases](index=63&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No common shares were repurchased during Q2 2025, with 250,052 shares remaining available under the authorized program - No shares were repurchased during the three months ended June 30, 2025, and the maximum number of shares that may yet be purchased under the program is **250,052**[211](index=211&type=chunk) [Other Disclosures and Exhibits](index=64&type=section&id=Item%203%2C%204%2C%205%20%26%206) The company reported no defaults on senior securities, no new director/officer trading plans, and included a list of exhibits - The company reports no defaults on senior securities and no new Rule 10b5-1 trading plans adopted by directors or officers in the quarter[213](index=213&type=chunk)

Group 1 - Middlefield Banc Corp. declared a quarterly cash dividend of $0.21 per common share, payable on September 12, 2025, to shareholders of record on August 29, 2025 [1] - The company has total assets of $1.92 billion as of June 30, 2025 [2] - Middlefield Banc Corp. operates 21 full-service banking centers and a brokerage office, serving multiple locations in Ohio [2] Group 2 - The company is headquartered in Middlefield, Ohio, and is the bank holding company of The Middlefield Banking Company [2] - Additional information about the company can be found on its website [3] - The press release includes forward-looking statements that may involve risks and uncertainties affecting the banking industry and the company's financial operations [3]

Core Points - Middlefield Banc Corp. has announced key appointments in its commercial banking division, reflecting its commitment to expanding services in Ohio [1][3] - John Cunningham has been appointed as Northeast Ohio Commercial Market Executive, Thomas Young as Northeast Ohio Commercial Relationship Manager, and Nick Paradiso as Central Ohio Commercial Relationship Manager [1][5][11] - The company also announced the retirement of Jack Gregorin, who served as Northeast Ohio Commercial Relationship Manager for the past seven years [2][3] Management Appointments - John Cunningham will oversee the commercial growth strategy and relationship management in Northeast Ohio, bringing nearly 30 years of banking experience [5][6] - Thomas Young will focus on delivering strategic advice to business clients in Northeast Ohio, leveraging his strong analytical skills and experience in business banking [8][9] - Nick Paradiso will provide strategic advice to clients in Central Ohio, with over 15 years of experience in commercial lending [11][12] Company Overview - Middlefield Banc Corp. is headquartered in Middlefield, Ohio, and has total assets of $1.92 billion as of June 30, 2025 [13][14] - The bank operates 21 full-service banking centers and a Loan Production Office in Mentor, Ohio, serving various communities across the region [14]

Core Insights - Middlefield Banc Corp. (MBCN) reported a revenue of $20.52 million for the quarter ended June 2025, reflecting a year-over-year increase of 21.8% [1] - The earnings per share (EPS) for the same quarter was $0.76, up from $0.52 in the previous year [1] - The reported revenue exceeded the Zacks Consensus Estimate by 10.3%, while the EPS surprise was 33.33% above the consensus estimate [1] Financial Performance Metrics - The efficiency ratio was reported at 64.5%, better than the average estimate of 67.5% from two analysts [4] - The net interest margin stood at 3.9%, surpassing the average estimate of 3.7% [4] - Average interest-earning assets were $1.83 billion, slightly above the estimated $1.8 billion [4] - Total noninterest income was $3.08 million, significantly higher than the estimated $1.85 million [4] - Net interest income reached $17.44 million, exceeding the average estimate of $16.75 million [4] Stock Performance - Over the past month, shares of Middlefield Banc have returned +0.9%, compared to a +5.9% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market [3]

Core Viewpoint - Middlefield Banc Corp. reported quarterly earnings of $0.76 per share, exceeding the Zacks Consensus Estimate of $0.57 per share, and showing an increase from $0.52 per share a year ago, representing an earnings surprise of +33.33% [1] Financial Performance - The company posted revenues of $20.52 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 10.30%, compared to $16.84 million in the same quarter last year [2] - Over the last four quarters, Middlefield Banc has exceeded consensus EPS estimates three times and topped consensus revenue estimates three times [2] Stock Performance - Middlefield Banc shares have increased approximately 6.4% since the beginning of the year, while the S&P 500 has gained 7.2% [3] - The current Zacks Rank for Middlefield Banc is 3 (Hold), indicating expected performance in line with the market in the near future [6] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.55 on revenues of $18.65 million, and for the current fiscal year, it is $2.24 on revenues of $73.45 million [7] - The outlook for the industry, particularly the Banks - Northeast sector, is favorable, currently ranking in the top 30% of over 250 Zacks industries [8]

[Financial Highlights](index=1&type=section&id=2025%20Second-Quarter%20Financial%20Highlights) Middlefield Banc Corp. reported strong Q2 2025 results, with diluted EPS up 46.2% and record total loans of $1.58 billion | Metric | Q2 2025 vs Q2 2024 | Value | | :--- | :--- | :--- | | Earnings per share (diluted) | Increased 46.2% | $0.76 | | Net Interest Margin | Expanded 37 bps | 3.88% | | Total Loans | Increased 5.6% | $1.58 billion | | Total Assets | Increased 5.3% | $1.92 billion | | Book Value per Share | Increased 4.3% | $26.74 | | Tangible Book Value per Share | Increased 6.1% | $21.60 | | Nonperforming assets to total assets | Decreased 32 bps (from Q4 2024) | 1.30% | - Net income for the quarter was boosted by a **$1.2 million** net gain on the exchange of real estate associated with the relocation of the Westerville, Ohio branch[3](index=3&type=chunk) - The company's strategy includes investing in its technology infrastructure, hiring experienced commercial bankers, and expanding its presence across Ohio markets[5](index=5&type=chunk) [Income Statement Analysis](index=2&type=section&id=Income%20Statement) Q2 2025 net interest income rose 15.6% to $17.4 million, with net income increasing 47.6% to $6.2 million | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Net Interest Income | $17.4 million | $15.1 million | +15.6% | | Net Interest Margin | 3.88% | 3.51% | +37 bps | | Net Income | $6.2 million | $4.2 million | +47.6% | | Diluted EPS | $0.76 | $0.52 | +46.2% | | Metric | Six Months 2025 | Six Months 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Net Interest Income | $33.5 million | $30.1 million | +11.6% | | Net Interest Margin | 3.79% | 3.53% | +26 bps | | Net Income | $11.0 million | $8.3 million | +32.5% | | Diluted EPS | $1.36 | $1.03 | +32.0% | - Noninterest income for Q2 2025 included a one-time, non-cash gain of **$1.2 million** from an exchange of real estate with the City of Westerville, Ohio[7](index=7&type=chunk) - Noninterest expense for Q2 2025 included a **$700,000** loss associated with recording a separate property in Westerville as held for sale[8](index=8&type=chunk) [Balance Sheet Analysis](index=2&type=section&id=Balance%20Sheet) As of June 30, 2025, total assets reached a record $1.92 billion and total loans $1.58 billion, driven by broad-based growth | Balance Sheet Item | June 30, 2025 | June 30, 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Total Assets | $1.92 billion | $1.83 billion | +5.3% | | Total Loans | $1.58 billion | $1.50 billion | +5.6% | | Total Deposits | $1.59 billion | $1.47 billion | +8.4% | | Total Liabilities | $1.71 billion | $1.62 billion | +5.4% | - The increase in total loans was primarily due to higher home equity lines of credit, commercial and industrial loans, and various real estate loan categories[10](index=10&type=chunk) - Deposit growth was mainly from money market and interest-bearing demand accounts, with brokered deposits increasing to **$165.1 million** from **$86.5 million** a year ago[12](index=12&type=chunk) - The Commercial Real Estate (CRE) portfolio totaled **$681.2 million**, with non-owner occupied properties making up the largest portion at **59.6%** of the CRE portfolio[13](index=13&type=chunk) [Stockholders' Equity and Dividends](index=3&type=section&id=Stockholders%27%20Equity%20and%20Dividends) Stockholders' equity increased 4.5% to $216.1 million, and the quarterly cash dividend rose 5% to $0.21 per share | Equity Metric | June 30, 2025 | June 30, 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Stockholders' Equity | $216.1 million | $206.8 million | +4.5% | | Book Value per Share | $26.74 | $25.63 | +4.3% | | Tangible Stockholders' Equity | $174.6 million | $164.3 million | +6.3% | | Tangible Book Value per Share | $21.60 | $20.37 | +6.0% | - The company increased its quarterly cash dividend by **$0.01**, or **5%**, to **$0.21** per share beginning in Q1 2025[16](index=16&type=chunk) - No shares of common stock were repurchased during the six months ended June 30, 2025[17](index=17&type=chunk) [Asset Quality](index=3&type=section&id=Asset%20Quality) Asset quality improved in H1 2025, with nonperforming assets to total assets decreasing to 1.30% due to loan payoffs | Asset Quality Metric | June 30, 2025 | Dec 31, 2024 | March 31, 2025 | | :--- | :--- | :--- | :--- | | Nonperforming assets to total assets | 1.30% | 1.62% | 1.56% | - Non-performing assets declined by **$4.9 million** since December 31, 2024, primarily due to the payoff of one previously disclosed non-accruing loan[21](index=21&type=chunk) - The year-over-year increase in nonperforming loans to **$25.1 million** was primarily due to a **$12.0 million** loan that was moved to nonaccrual status in the third quarter of 2024[20](index=20&type=chunk) - The allowance for credit losses was **$22.3 million**, or **1.41%** of total loans, at June 30, 2025[20](index=20&type=chunk) [Consolidated Financial Data](index=5&type=section&id=Consolidated%20Financial%20Data) This section provides detailed consolidated financial tables, including balance sheets, income statements, and key ratios Consolidated Balance Sheet Highlights (as of June 30, 2025) | Account | Amount (in thousands) | | :--- | :--- | | Total Assets | $1,924,369 | | Total Loans | $1,581,925 | | Allowance for credit losses | $22,335 | | Total Deposits | $1,593,618 | | Total Stockholders' Equity | $216,052 | Consolidated Income Statement Highlights (For the Three Months Ended June 30, 2025) | Account | Amount (in thousands) | | :--- | :--- | | Net Interest Income | $17,437 | | Provision for (recovery of) credit losses | $(506) | | Noninterest Income | $3,078 | | Noninterest Expense | $13,651 | | Net Income | $6,157 | Key Ratios and Per Share Data (For the Three Months Ended June 30, 2025) | Metric | Value | | :--- | :--- | | Net income per common share - diluted | $0.76 | | Book value per share | $26.74 | | Return on average assets (Annualized) | 1.29% | | Return on average tangible common equity (Annualized) | 14.31% | | Net interest margin | 3.88% | [About Middlefield Banc Corp. and Disclosures](index=4&type=section&id=About%20Middlefield%20Banc%20Corp.) This section outlines Middlefield Banc Corp.'s operations, non-GAAP measures, and forward-looking statements disclosures - Middlefield Banc Corp. is the bank holding company for The Middlefield Banking Company, with **$1.92 billion** in total assets as of June 30, 2025, operating **21 full-service banking centers** in Ohio[22](index=22&type=chunk) - The report includes non-GAAP measures like tangible book value and pre-tax, pre-provision income, which management believes provide a better understanding of underlying operational results[23](index=23&type=chunk) - The press release contains forward-looking statements that are subject to risks and uncertainties, including competitive pressures, interest rate changes, and economic conditions[24](index=24&type=chunk)