Middlefield Banc reports Q3 EPS 65c, consensus 62c

Net interest margin expanded 33 basis points to 3.79%. Book value increased 6.1% to $27.71 from $26.11 per share, while tangible book value increased 8.4% to $22.62 from $20.87 per share. “Our third quarter performance was exceptionally strong, supported by core earnings growth that reflects margin expansion and disciplined operating expense control,” stated Ronald Zimmerly, CEO. “These results, combined with steady asset growth and strong asset quality, demonstrate the strength of our community banking model and our commitment to serving customers across our markets. Solid third quarter financial results have driven year-to-date earnings per diluted share to $2.01, increased book value by 6.1% to $27.71 per share, and produced a return on average assets of 1.14%, compared to 0.77% a year ago. Continued investments in our operations and talent have strengthened our foundation and positioned Middlefield for sustained performance and shareholder value creation. The relocation of our Westerville office remains on track to open in the fourth quarter of 2025, advancing our multi-year strategy to expand our presence in the Central Ohio region. As we look to the remainder of the year, we are confident 2025 will be another year of profitable growth and progress.”