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Middlefield Banc Corp. Announces Second Quarter Cash Dividend

Middlefield Banc Corp. 2006 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 12, 2006

MIDDLEFIELD, OHIO  The Board of Directors of Middlefield Banc Corp. (Pink Sheets: MBCN) declared a regular cash dividend for the second quarter of 2006 of $0.235 per common share. The dividend, which represents an increase of 12.17% over the regular dividend paid in the same period last year, is payable on June 15, 2006, to shareholders of record on June 2, 2006.

“We are pleased that our performance has given us the opportunity to increase the level of our quarterly cash dividend,” said Thomas G. Caldwell, President and Chief Executive Officer. “Our commitment to enhancing shareholder value remains a cornerstone of our core values.”

Middlefield Banc Corp. is a financial holding company with assets of $311 million headquartered in Middlefield, Ohio. Its subsidiary, The Middlefield Banking Company operates six full service banking centers and a LPL Financial brokerage office serving Chardon, Garrettsville, Mantua, Middlefield, and Orwell, Ohio. Additional information is available at 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.