Gary C. Kern Joins The Middlefield Banking Company as Chief Information Officer

MIDDLEFIELD, Ohio, June 30, 2020 (GLOBE NEWSWIRE) -- The Middlefield Banking Company (NASDAQ: MBCN) today announced that Gary C. Kern has joined the Company as Chief Information Officer. In this position, Mr. Kern will lead the Company’s IT strategy development and implementation to support Middlefield’s corporate goals and compliance requirements.

President and CEO Thomas G. Caldwell stated, “Gary is a proven IT executive and recognized leader and influencer. Executing our IT strategy is critically important to our organization as more customers engage with the Bank through digital, mobile, and online resources. I look forward to his contributions as we execute our growth initiatives.”

Prior to joining Middlefield, Mr. Kern spent 15 years at MutualBank in Muncie, IN most recently as Chief Information Officer, and Vice President of Strategic Development of their cyber security affiliate. As CIO, Mr. Kern oversaw all aspects of the company’s IT infrastructure and cyber security, governance and project management encompassing more than 40 locations. Mr. Kern’s professional career also includes technology leadership roles at Conseco Insurance Group and Lincoln Financial Group. Mr. Kern has been named a Premier 100 IT Leader by Computerworld and a Top 25 Community Bank Social Media Influencer by the Independent Community Bankers of America. Mr. Kern earned his MBA from Indiana University/Purdue University – Fort Wayne, his BS in Business-Quantitative Analysis from Indiana University – Bloomington, and graduated from the Graduate School of Banking at the University of Wisconsin – Madison.

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 $1.21 billion at March 31, 2020. 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.

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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.