Download PDF

1. Company Snapshot

1.a. Company Description

Middlefield Banc Corp.operates as the bank holding company for The Middlefield Banking Company that provides various commercial banking services to small and medium-sized businesses, professionals, small business owners, and retail customers in northeastern and central Ohio.It provides checking, savings, negotiable order of withdrawal accounts, money market accounts, time certificates of deposit, commercial loans, real estate loans, various consumer loans, safe deposit facilities, and travelers' checks.


The company also offers operational and working capital, term business, residential construction, professional, and residential and mortgage loans, as well as consumer installment loans for home improvements, automobiles, boats, and other personal expenditures; loans to finance capital purchases; selected guaranteed or subsidized loan programs for small businesses; and agricultural loans.Further, it provides official checks, money orders, ATM services, as well as IRA accounts; online banking and bill payment services to individuals; and online cash management services to business customers.In addition, the company resolves and disposes troubled assets in Ohio.


As of December 31, 2021, it has 17 banking centers in Chardon, Newbury, and Middlefield, Garrettsville, Mantua, Orwell, Cortland, Dublin, Westerville, Sunbury, Powell, Beachwood, Solon, Twinsburg, and Plain City; as well as an administrative office in Middlefield, and a loan production office in Mentor.Middlefield Banc Corp.was founded in 1901 and is headquartered in Middlefield, Ohio.

Show Full description

1.b. Last Insights on MBCN

Middlefield Banc Corp.'s recent performance was driven by a 12.5% year-over-year increase in net income, reaching $0.60 per share, surpassing the Zacks Consensus Estimate of $0.48 per share. The company's quarterly earnings and revenues exceeded expectations, with a 17.6% year-over-year increase in net interest income. Additionally, Middlefield Banc Corp. announced a 5% increase in its quarterly cash dividend payment, demonstrating its commitment to returning value to shareholders.

1.c. Company Highlights

2. Transcript Summary

Unfortunately this company is not part of our coverage yet. But as part of your subscription plan you can request it by clicking just below and we'll process.

Request Coverage

3. NewsRoom

Card image cap

Elizabeth Park Capital Advisors Ltd. Purchases 58,576 Shares of Middlefield Banc Corp. $MBCN

Dec -07

Source: defenseworld.net

Card image cap

Middlefield Banc Corp. Announces 2025 Fourth-Quarter Cash Dividend Payment

Nov -17

Source: globenewswire.com

Card image cap

Halper Sadeh LLC Encourages CDTX, MRSN, HOLX Shareholders to Contact the Firm to Discuss Their Rights

Nov -14

Source: prnewswire.com

Card image cap

Head to Head Review: HarborOne Bancorp (NASDAQ:HONE) and Middlefield Banc (NASDAQ:MBCN)

Nov -03

Source: defenseworld.net

Card image cap

$HAREHOLDER ALERT: The M&A Class Action Firm Announces An Investigation of First Citizens Bancshares, Inc. (OTCMKTS: FIZN)

Oct -28

Source: prnewswire.com

Card image cap

KBRA Comments on Farmers National Banc Corp's Merger Agreement to Acquire Middlefield Banc Corp.

Oct -23

Source: businesswire.com

Card image cap

Why Middlefield Banc Stock Crushed It Today

Oct -22

Source: fool.com

Card image cap

Middlefield Banc Investor Alert By The Former Attorney General Of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Middlefield Banc Corp. - MBCN

Oct -22

Source: businesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.00%)

6. Segments

Banking and Related Activities

Expected Growth: 2.0%

Middlefield Banc Corp.'s 2.0% growth in Banking and Related Activities is driven by increasing loan demand, expansion of commercial banking services, and strategic branch acquisitions. Additionally, the company's focus on digital transformation, cost savings initiatives, and a favorable interest rate environment have contributed to its growth.

7. Detailed Products

Commercial Loans

Middlefield Banc Corp. offers a range of commercial loan products to support businesses of all sizes, including term loans, lines of credit, and construction loans.

Residential Mortgages

The company provides a variety of residential mortgage options, including fixed-rate and adjustable-rate mortgages, as well as government-backed loans.

Consumer Loans

Middlefield Banc Corp. offers personal loans, auto loans, and home equity loans to help individuals achieve their financial goals.

Deposit Accounts

The company provides a range of deposit accounts, including checking, savings, and certificates of deposit (CDs), to help individuals and businesses manage their finances.

Treasury Management Services

Middlefield Banc Corp. offers treasury management services, including cash management, wire transfers, and ACH services, to help businesses streamline their financial operations.

Investment Services

The company provides investment services, including brokerage services and investment advice, to help individuals and businesses achieve their long-term financial goals.

8. Middlefield Banc Corp.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Middlefield Banc Corp. is medium due to the presence of alternative banking services and financial institutions.

Bargaining Power Of Customers

The bargaining power of customers for Middlefield Banc Corp. is low due to the lack of concentration of buyers and the availability of multiple banking options.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Middlefield Banc Corp. is medium due to the presence of multiple suppliers and the moderate level of dependence on them.

Threat Of New Entrants

The threat of new entrants for Middlefield Banc Corp. is high due to the relatively low barriers to entry and the attractiveness of the banking industry.

Intensity Of Rivalry

The intensity of rivalry for Middlefield Banc Corp. is high due to the presence of multiple competitors and the high level of competition in the banking industry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 45.50%
Debt Cost 7.23%
Equity Weight 54.50%
Equity Cost 7.23%
WACC 7.23%
Leverage 83.49%

11. Quality Control: Middlefield Banc Corp. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Pioneer Bancorp

A-Score: 5.7/10

Value: 5.5

Growth: 4.3

Quality: 6.9

Yield: 0.0

Momentum: 8.5

Volatility: 9.3

1-Year Total Return ->

View Full Report
Stock-Card
AmeriServ Financial

A-Score: 5.5/10

Value: 6.6

Growth: 3.4

Quality: 4.1

Yield: 7.0

Momentum: 6.5

Volatility: 5.7

1-Year Total Return ->

View Full Report
Stock-Card
Norwood Financial

A-Score: 5.1/10

Value: 4.9

Growth: 3.7

Quality: 4.2

Yield: 8.0

Momentum: 3.0

Volatility: 7.0

1-Year Total Return ->

View Full Report
Stock-Card
Middlefield Banc

A-Score: 4.9/10

Value: 3.9

Growth: 4.2

Quality: 6.3

Yield: 6.0

Momentum: 5.0

Volatility: 4.0

1-Year Total Return ->

View Full Report
Stock-Card
William Penn

A-Score: 4.8/10

Value: 6.0

Growth: 4.3

Quality: 4.7

Yield: 1.0

Momentum: 6.0

Volatility: 6.7

1-Year Total Return ->

View Full Report
Stock-Card
First Internet

A-Score: 4.4/10

Value: 9.6

Growth: 6.7

Quality: 3.7

Yield: 2.0

Momentum: 0.5

Volatility: 3.7

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

37.54$

Current Price

37.54$

Potential

-0.00%

Expected Cash-Flows