MIDDLEFIELD, OHIO The Board of Directors of Middlefield Banc Corp. (Pink Sheets: MBCN) announced that on August 12, 2002 it declared a quarterly cash dividend of $0.19 per share. This dividend will be payable on September 13, 2002 to shareholders of record on September 4, 2002.
This dividend reflects the Companys strong operating performance and is consistent with the Companys mission of providing consistent returns to its shareholders. Adjusted for the five percent stock dividend paid during the second quarter of 2002, this third quarter pay-out represents an increase of 42.54% over the third quarter of 2001.
Headquartered in Middlefield, Ohio, Middlefield Banc Corp. is a one-bank holding company for The Middlefield Banking Company. The Middlefield Banking Company , which operates offices in Chardon, Garrettsville, Mantua and Middlefield, has received regulatory approval for a new office in Orwell, Ohio.
At June 30, 2002, the company had total assets of $214.6 million.
The information contained in this press release contains forward-looking statements regarding future performance which are not historical facts and which involve risk and uncertainties. Actual results and performance could differ materially from those contemplated by these forward looking statements.