Middlefield Banc Corp. (MBCN)

Middlefield Banc Corp. experienced several stock events in the past six months. A definitive merger agreement with Farmers National Banc Corp. was announced on October 22, 2025. The company reported strong financial results for Q3 2025, with increased earnings per share and net interest margin. Keefe, Bruyette & Woods reiterated a "Market Perform" recommendation and raised the price target to $35.00. A quarterly cash dividend of $0.21 per common share was declared on November 17, 2025. The stock price increased significantly on August 25, 2025.

The provided information does not explicitly detail demand seasonality for Middlefield Banc Corp.'s products and services. Loan demand and deposit levels are likely influenced by local economic activity, including agricultural cycles, holiday spending patterns, and business investment cycles. The company anticipates stable economic activity supporting loan demand and asset quality throughout 2025.

Middlefield Banc Corp. is a bank holding company based in Middlefield, Ohio, operating through The Middlefield Banking Company. It provides commercial banking services to individuals, businesses, and institutions, offering deposit accounts, commercial loans, real estate loans, consumer loans, agricultural loans, financial planning, investment management, trust and estate services, and cash management services.

Middlefield Banc Corp. is headquartered in Middlefield, Ohio, with operations concentrated in Central, Western, and Northeast Ohio. It operates 21 full-service banking centers and an LPL Financial® brokerage office across these regions, serving communities such as Ada, Beachwood, Bellefontaine, and others. Additionally, it has a Loan Production Office in Mentor, Ohio.

Middlefield Banc Corp. has maintained a positive brand reputation over the past year, driven by its community banking model and consistent financial performance. The company emphasizes quality, safety, soundness, and shareholder value. It supports local communities through sponsorships and employee volunteering. Strong financial results and the announced merger with Farmers National Banc Corp. have further bolstered its reputation.

Middlefield Banc Corp. has a mixed ownership structure, including institutional, retail, and insider holdings. There are 173 institutional owners and shareholders holding 3,224,491 shares. Major institutional shareholders include Castle Creek Capital Partners VI, LP, BlackRock, Inc., and Vanguard Group Inc. As of April 2022, Ancora Holdings Group, LLC was reported as the largest shareholder.