DUBLIN, OHIO Emerald Bank, a wholly-owned subsidiary of Middlefield Banc Corp. (Pink Sheets: MBCN), today announced that Kenneth E. Jones has been elected as Chairman of the Board of Directors of Emerald Bank. The announcement was made by Glenn E. Aidt, Emerald’s President and Chief Executive Officer on behalf of Emerald Bank’s Board of Directors.
Mr. Jones, a founding director of Emerald Bank, is President of Chesapeake Financial Advisors, Columbus, an investment and financial consulting company. Previously, Mr. Jones served as Vice President and Chief Financial Officer of Photonic Integration Research, Inc., and in various business development positions with Battelle Memorial Institute. A graduate of the University of Virginia with a Bachelor of Science in Nuclear Engineering, Mr. Jones also holds an M.B.A. from the same institution.
Commenting on the election, Richard T. Coyne, Chairman of the Board of Middlefield Banc Corp. and Mr. Aidt together stated: “We are very pleased that Ken has decided to accept this position. He is a highly talented and motivated executive with an extensive background in finance and business development. His insights and expertise will be essential to the growth of Emerald Bank.”
Regarding his election, Mr. Jones stated, “I am privileged to serve as Chairman of the Board of a company with a commitment to the delivery of quality financial services. In addition, I am delighted to assume this position at such an exciting time as Emerald Bank begins its affiliation with Middlefield Banc Corp. and embarks on many new initiatives and growth strategies.”
Emerald Bank, headquartered at 6215 Perimeter Drive, Dublin, opened on June 1, 2004. On April 19, 2007, Emerald Bank became an affiliate of Middlefield Banc Corp. Middlefield Banc Corp. is a financial holding company headquartered in Middlefield, Ohio. With total assets in excess of $425 million, its other subsidiary is The Middlefield Banking Company, which operates seven full service banking offices and a loan production office in northeastern Ohio. Further 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.