The Middlefield Banking Company Temporarily Limits In-Person Branch Services amid Coronavirus Concerns

MIDDLEFIELD, Ohio, March 20, 2020 (GLOBE NEWSWIRE) — The Middlefield Banking Company, a wholly owned subsidiary of Middlefield Banc Corp. (NASDAQ: MBCN), today announced that effective March 23, 2020 in-person branch banking services will be temporarily limited to in-office service by appointment only. To assist clients with banking needs, drive-thru service hours will be expanded at most offices. The changes are part of the Bank’s comprehensive actions to help reduce the spread of the COVID-19.

Thomas G. Caldwell, President and Chief Executive Officer, stated: “As we deal with the effects of the COVID-19 pandemic, the trust of our customers and communities is now more important than ever. Middlefield’s management team is closely monitoring and proactively mitigating a number of risks related to COVID-19. As a result, we are making the appropriate adjustments at our branch locations.”

Mr. Caldwell continued: “Your money is secure, and Middlefield’s bankers, branches, and customer service teams are available and committed to help. However, for the safety of our customers and employees, beginning Monday, March 23, 2020, we are temporarily restricting walk-in transactions in our bank lobbies. We will continue to provide updates as necessary at www.middlefieldbank.bank.”

During this temporary period, customers can arrange appointments for the purpose of opening deposit accounts, safe deposit box access, business deposit services, loan applications, loan closings, other loan officer transactions and any other banking transaction which we can safely conduct. Please contact your local branch to schedule an appointment for branch-related services that require additional support. Hours, phone numbers and information can be found at www.middlefieldbank.bank/locations.

To assist customers with their banking needs, access is also available by using the following:

Drive-Thru access.

Customer Support Center with expanded hours of 7:00 a.m. – 9:00 p.m. Monday through Friday and 8:00 a.m. through 1:00 p.m. on Saturday.

Online Banking at www.middlefieldbank.com available 24/7.

Mobile Banking available 24/7.

Night Depository.

ATMs available at each banking office.

Telephone Banking Easyline at 877-622-2794 to check account balances, transfer between your accounts, and make MB loan payments.

Appointments available on weekdays for time sensitive banking matters.

Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the bank holding company of The Middlefield Banking Company with total assets of $1.18 billion at December 31, 2019. The bank operates 16 full-service banking centers and an LPL Financial® brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio. Additional information is available at www.middlefieldbank.bank.

This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Middlefield Banc Corp.’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.’s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.