Middlefield Banc reports Q1 EPS 51c, consensus 41c

Ronald Zimmerly, Jr., President and Chief Executive Officer, stated, “2024 is off to a solid start. Over the past three months, our pre-tax, pre-provision income stabilized, reflecting positive loan growth, strong asset quality, higher noninterest income, and controlled operating expenses. During this period, our ROAA, ROAE, and ROATCE increased due to improved profitability. In addition, we ended the quarter with record total loans as our expanded Commercial, Business, and Consumer Banking teams capitalized on favorable demand trends across our Northeast, Central, and Western Ohio markets.”