We provide a variety of savings products for our commercial customers. These include traditional statement and passbook savings accounts, as well as high yielding certificates of deposit. All of these accounts have low opening balances and may be maintained without service charge.
Surplus funds in your non-interest checking account may be better invested in our Sweep Account. We will transfer any funds in excess of a targeted minimum balance. The amount of the target balance may be set to allow you to avoid service charges. These funds are invested on an overnight basis into an investment vehicle which permits you to earn a competitive interest rate. This sweep occurs automatically and your invested balance is detailed on both a daily confirmation notice and your monthly account statement.
The Middlefield Banking Company also offers retirement plans that may be right for you, your company and your employees. These include Individual Retirement Accounts (IRAs) and Simplified Employee Pension Plans (SEPs). These retirement plans may be tax deductible for you and your employees.