Middlefield Banc Corp. Reports 2025 Six-Month Financial Results

Core Viewpoint - Middlefield Banc Corp. reported strong financial growth and profitability for the second quarter of 2025, with significant increases in total loans, net interest income, and net income compared to the previous year [3][7]. Financial Performance - Total loans increased by 5.6% year-over-year to a record $1.58 billion, reflecting an annualized growth rate of 8.2% since the beginning of the year [3][9]. - Net interest income for the second quarter rose by 15.6% to $17.4 million, compared to $15.1 million in the same period of 2024 [4]. - Net income for the second quarter was $6.2 million, or $0.76 per diluted share, up from $4.2 million, or $0.52 per diluted share, in the prior year [7]. - Noninterest income for the second quarter was $3.1 million, compared to $1.8 million for the same period last year [5]. Asset Quality - Nonperforming assets to total assets improved to 1.30% at June 30, 2025, down from 1.62% at December 31, 2024 [18]. - The allowance for credit losses stood at $22.3 million, or 1.41% of total loans, compared to $21.8 million, or 1.46% of total loans, at June 30, 2024 [17]. Balance Sheet Highlights - Total assets increased by 5.3% year-over-year to a record $1.92 billion [9]. - Total deposits rose by 8.4% year-over-year to $1.59 billion, driven by growth in money market and interest-bearing demand deposits [11]. - Stockholders' equity increased by 4.5% year-over-year to $216.1 million, with a per-share value of $26.74 [13]. Strategic Initiatives - The company is focused on expanding its presence in Central Ohio, with plans to open a new branch in Westerville in the second half of 2025 [3]. - Investments in technology infrastructure and hiring experienced commercial bankers are part of the strategy to enhance growth and profitability [3].