Middlefield Banc Corp., incorporated on April 15, 1988, is a bank holding company. The Company's subsidiaries include The Middlefield Banking Company (MBC) and EMORECO Inc. MBC is engaged in the general commercial banking business in northeastern and central Ohio. MBC offers customers a range of banking services, including checking, savings, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities and travelers' checks. MBC offers online banking and bill payment services to individuals, and online cash management services to business customers through its Website at www.middlefieldbank.com. EMORECO engages in the resolution and disposition of troubled assets in central Ohio. MBC offers its services to small and medium-sized businesses, professionals, small business owners and retail customers.
Lending Activities
The Bank makes residential and commercial mortgage loans, home equity loans, secured and unsecured consumer installment loans, commercial and industrial loans, and real estate construction loans for owner-occupied and rental properties. MBC's loan products include operational and working capital loans, loans to finance capital purchases, term business loans, selected guaranteed or subsidized loan programs for small businesses, professional loans, and residential and mortgage loans. The Bank offers specialized loans for business and commercial customers, including equipment and inventory financing, real estate construction loans and Small Business Administration loans for qualified businesses. The Bank's consumer installment loans include secured and unsecured loans to individual borrowers for a range of purposes, including personal, home improvements, revolving credit lines, autos, boats and recreational vehicles.
The Company's commercial loan services include accounts receivable, inventory and working capital loans; short-term notes; renewable operating lines of credit; selected guaranteed or subsidized loan programs for small businesses; loans to finance capital equipment; loans to professionals, and commercial real estate loans. The Bank originates various types of loans that it categorizes as construction loans, including residential construction loans to borrowers who will occupy the premises upon completion of construction, residential construction loans to builders, commercial construction loans, and real estate acquisition and development loans. The Bank's total loans amount to approximately $533.71 million.
Investment Activities
The Bank's investment portfolio includes its available for sale investment securities. The Bank's available for sale investment securities include the United States Government agency securities, obligations of states and political subdivisions, mortgage-backed securities in government-sponsored entities, private-label mortgage-backed securities and equity securities in financial institutions. The Bank's total investment securities have a fair value of approximately $146.52 million.
Sources of Funds
The Bank's sources of funds include deposit accounts and borrowings. The Bank offers a range of deposit products to attract both commercial and regular consumer checking and savings customers, including regular and money market savings accounts, negotiable order of withdrawal (NOW) accounts, and a range of fixed-maturity, fixed-rate certificates. The Bank's other deposits include noninterest-bearing demand deposits, noninterest-bearing demand deposits and time deposits. The Bank also provides travelers' checks, official checks, money orders, automated teller machine (ATM) services, and individual retirement account (IRA) accounts. The Bank can also obtain funds from the Federal Home Loan Bank (FHLB) of Cincinnati, and has access to credit through the Federal Reserve Bank of Cleveland and other funding sources. The Bank's total deposits amount to approximately $624.45 million.
15985 E High St
The company trades on NASDAQ exchange. The company headquarter is located in Ohio, OH. The company was established in the 1901.| Ticker | MBCN |
| Long Name | Middlefield Banc Corp. |
| Short Name | Middlefield Banc |