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The Middlefield Banking Company Announces Additions to Leadership Team

January 4, 2019

MIDDLEFIELD, Ohio--(BUSINESS WIRE)--Jan 4, 2019--Middlefield Banc Corp. (NASDAQ: MBCN) today announced additions to its leadership team. Michael L. Allen has joined The Middlefield Banking Company as Executive Vice President/Chief Banking Officer and John D. Lane has joined The Middlefield Banking Company as Executive Vice President/Chief Credit and Risk Officer. Mr. Allen will be responsible for managing the company’s retail and commercial banking operations and marketing activities, and Mr. Lane will be responsible for leading the company’s credit administration, loan administration and risk/audit/compliance programs.

President and CEO Thomas G. Caldwell stated, “I am excited to welcome Mike and John to Middlefield. Mike and John are proven leaders that have the experience, drive, and diverse skill set to immediately add value across our organization. Over the past several years we have made a number of important personnel decisions that are focused on enhancing our leadership team and driving growth.”

Mr. Allen has over 30 years of banking experience. Prior to joining Middlefield, Mr. Allen was President – Mid-Ohio Valley Division for Premier Bank, Inc. since 2014. From 2002 to 2014, Mr. Allen was a financial professional at AXA Advisors, and from 1984 to 2001 Mr. Allen held various positions, including member of the Board of Directors at Traders Bankshares, Inc. in Spencer, WV. Mr. Allen is a Certified Public Account and graduated with a BA in Business Administration from Glenville State College. Mr. Allen has been involved with several community organizations including the West Virginia Bankers Association, West Virginia Society of CPAs, and Glenville State College Institutional Board of Advisors.

Mr. Lane has over 15 years of banking experience. Prior to joining Middlefield, Mr. Lane was Senior Vice President, Credit Risk at Civista Bank since 2011. From 2006 to 2011, Mr. Lane was a Vice President, Relationship Manager and Commercial Loan Workout Officer for The Huntington National Bank. Before that, Mr. Lane held various roles at NVR, Inc. Advanced Handling Systems, and Cintas Corporation. Mr. Lane spent eight years in the United States Army and graduated with a BS in Engineering Management from the United States Military Academy. Mr. Lane received his MBA from Duke University, Fuqua School of Business.

Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a bank holding company with total assets of over $1.2 billion at September 30, 2018. The bank operates 15 full-service banking centers and an LPL Financial® brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio. Additional information is available at www.middlefieldbank.bank.

This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Middlefield Banc Corp.’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.’s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190104005021/en/

CONTACT: Company Contact:

Thomas G. Caldwell

President/Chief Executive Officer

Middlefield Banc Corp.

(440) 632-1666 Ext. 3200

tcaldwell@middlefieldbank.comInvestor and Media Contact:

Andrew M. Berger

Managing Director

SM Berger & Company, Inc.

(216) 464-6400

andrew@smberger.com

KEYWORD: UNITED STATES NORTH AMERICA OHIO

INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE OTHER PROFESSIONAL SERVICES

SOURCE: Middlefield Banc Corp.

Copyright Business Wire 2019.

PUB: 01/04/2019 08:00 AM/DISC: 01/04/2019 08:01 AM

http://www.businesswire.com/news/home/20190104005021/en

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