Middlefield Banc Corp. Announces Second Quarter Dividend

Middlefield Banc Corp. 2004 Press Releases

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Contact Info: James R. Heslop, 2nd
Executive Vice President/Chief Operating Officer
440.632.1666 Ext. 3219
Date: May 18, 2004

MIDDLEFIELD, OHIO   Middlefield Banc Corp. (Pink Sheets:  MBCN) today announced that the company’s board of directors declared a quarterly cash dividend of $0.21 per common share payable on June 15, 2004, to shareholders of record on May 26, 2004.  This dividend represents a 10.25% increase over the dividend paid by Middlefield Banc Corp. in the second quarter of 2003.

Headquartered in Middlefield, Ohio, Middlefield Banc Corp. is the parent company of The Middlefield Banking Company, an Ohio state-chartered bank.  The Middlefield Banking Company, with assets in excess of $275 million, operates six full service banking centers and a LPL Financial brokerage office serving Chardon, Garrettsville, Mantua, Middlefield, and Orwell, Ohio.  For more information, please visit www.middlefieldbank.com

This announcement contains forward-looking statements that involve risk and uncertainties, including changes in general economic and financial market conditions and the Company’s ability to execute its business plans.  Although management believes the expectations reflected in such statements are reasonable, actual results may differ materially.