Middlefield Banc Corp. Declares Quarterly Cash Dividend

Middlefield Banc Corp. 2002 Press Releases

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Contact Info: James R. Heslop, 2nd
Executive Vice President/Chief Operating Officer
440.632.1666 Ext. 3219
Date: August 15, 2002

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 Company’s strong operating performance and is consistent with the Company’s 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.