The Middlefield Banking Company Celebrates 120th Year Anniversary

Middlefield locations to host customer appreciation events on September 16, 2021

Middlefield Banc Corp. (NASDAQ: MBCN) is proud to celebrate the 120^th anniversary of The Middlefield Banking Company this year.

The Middlefield Banking Company opened on September 16, 1901, after a group of local businessmen recognized the need for a local bank within the Middlefield community. Since its founding with just $25,000 of capital and one location, Middlefield has expanded throughout Northeast and Central Ohio. Today, Middlefield is one of the largest independent community banks in Ohio serving 10 Ohio counties across 16 branches, an LPL Financial® brokerage office, and a Loan Production Office, with over $1.3 billion in assets at June 30, 2021.

“The Middlefield Banking Company’s success over the past 120 years is a result of our teams’ continued commitment to providing supportive, local, and individualized financial services to our communities,” said Thomas G. Caldwell, Middlefield’s President and Chief Executive Officer. “On behalf of Executive Management and Board of Directors, I want to personally thank our team members for their dedication to delivering high-quality service. We look forward to offering leading financial products and local services to our customers and shareholders for many more years to come.”

In celebration of 120 years, all 16 Middlefield branches are hosting customer appreciation events on Thursday, September 16, 2021. Activities will include food, beverages, giveaways, and raffles.

In conjunction with the anniversary celebration, Middlefield launched a Home Equity Line of Credit (HELOC) promotion that will be available to qualified borrowers through October 31, 2021. The HELOC promotion features a rate of prime minus 0.50% (currently a 2.75% APR), $0 application fee, $0 closing costs, and no annual fee in the first year. The Bank also recently started a Business Equipment Loan Special starting at 2.99% APR for a 3-Year Term. For complete details, please visit https://www.middlefieldbank.bank/heloc and https://middlefieldbank.bank/equipment.

About Middlefield Banc Corp.

Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the bank holding company of The Middlefield Banking Company with total assets of $1.36 billion at June 30, 2021. 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) the effect of the COVID-19 pandemic, including on our credit quality and business operations, as well as its impact on general economic and financial market conditions; (8) changes in the securities markets; or (9) 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.

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