Exhibit 99
(MBC LOGO)
15985 East High Street
P. O. Box 35
Middlefield, Ohio 44062
Phone: 440/632-1666 FAX: 440/632-1700
www.middlefieldbank.com
PRESS RELEASE
     
Contact:
  James R. Heslop, 2nd
 
  Executive Vice President/Chief Operating Officer
 
  (440) 632-1666 Ext. 3219
 
  jheslop@middlefieldbank.com
Middlefield Banc Corp. Reports Fourth Quarter and Full Year 2009 Results
MIDDLEFIELD, OHIO, January 25, 2010
¨¨¨¨ Middlefield Banc Corp. (Pink Sheets: MBCN), parent of The Middlefield Banking Company and Emerald Bank, today announced the following results for the period ended December 31, 2009.
    Total assets increased $90.8 million, or 19.4%, from December 31, 2008
    Net interest income in a year-to-year comparison grew $2.3 million or 19.1%
    Total deposits stood at $487.1 million, an increase of 23.4% from year-end 2008
    Net loans grew $30.6 million during the year, ending up 9.6%
    Diluted earnings per common share for the year were $1.15.
The company reported that earnings for the fourth quarter ended December 31, 2009, were $504,000 compared to earnings of $390,000 for the same period in the prior year. During the 2009 period, net interest income increased $898,000. This was offset by a $332,000 higher provision for loan losses, and an increase in other total non-interest expense of $774,000. Non-interest income during the fourth quarter of 2009 was $447,000 above that reported in the same period of 2008, during which an other-than-temporary impairment on securities of $379,000 was recorded.
For the year, net income was $1,781,000, which was below the $2,615,000 reported for 2008. An increase in net interest margin of $2,288,000 over 2008, was offset by an increase in the provision for loan losses of $1,735,000 and an increase in total non-interest expense of $2,289,000.
Annualized returns on average equity (“ROE”) and average assets (“ROA”) for the quarter were 5.42% and 0.37%, respectively, compared with 5.02% and 0.34% for the fourth quarter of 2008. ROE and ROA were 4.90% and 0.36%, respectively, for the twelve-month period of 2009. Comparable results for the 2008 twelve-month period were 7.91% and 0.58%, respectively.

 

 


The following information was filed by Middlefield Banc Corp (MBCN) on Monday, January 25, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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