The Middlefield Banking Company Expands Commercial Banking Team

Josh Riley named Senior Vice President/Chief Commercial Market Executive - Central Ohio

Jerry Benko named Senior Vice President/Chief Commercial Market Executive - Northeast Ohio

MIDDLEFIELD, Ohio, July 19, 2023 (GLOBE NEWSWIRE) -- The Middlefield Banking Company, a wholly owned subsidiary of Middlefield Banc Corp. (NASDAQ: MBCN), today announced that it has added two new team members to help expand and manage Middlefield’s commercial banking brand in the Central and Northeast Ohio markets. Joining Middlefield are Josh Riley, Senior Vice President/Chief Commercial Market Executive - Central Ohio and Jerry Benko Senior Vice President/Chief Commercial Market Executive - Northeast Ohio.

“Josh and Jerry are proven bankers both with over 20 years of experience serving the unique needs of their respective markets,” said James R. Heslop, II, Middlefield’s Chief Executive Officer. “We look forward to Josh and Jerry’s contributions as Middlefield expands its community-focused teams in Central and Northeast Ohio.”

As Senior Vice President/Chief Commercial Market Executive - Central Ohio, Josh Riley brings over 21 years of financial services experience within the Central Ohio market. Prior to joining The Middlefield Bank, Riley was Vice President at First Merchants Bank, responsible for developing middle market and small corporate banking relationships while also stewarding the Ohio region’s internal partnership collaboration initiatives. Before joining First Merchants Bank, Riley held officer positions with investment, regional, and community banks. Riley is a recipient of multiple awards for sales and service excellence and collaboration with complimentary line of business leaders. Riley received his Bachelor of Science degree in Finance and Management Information Systems from Ohio University. He is a recent graduate of the American Banker Association’s Stonier Graduate School of Banking at the University of Pennsylvania.   Riley is an advisory board member and the chair of the nominating committee for The Salvation Army of Central Ohio. He is the past chair of the Joan Levy Bisesi Foundation and founder and director of the Columbus Donut Run for head and neck cancer research.

As Senior Vice President/Chief Commercial Market Executive - Northeast Ohio, Jerry Benko brings over 21 years of banking experience within the Northeast Ohio market. Benko is a highly experienced commercial banker and former business owner who enjoys serving and helping small businesses succeed. Most recently, he was the Market Manager, Vice President at Huntington National Bank, where he managed a cross-functional team of Business Development Officers, an SBA Specialist, and a Portfolio Manager. Prior to his six years at Huntington National Bank, Benko spent 15 years at PNC Bank in a variety of progressive banking roles. Benko received a Bachelor of Business Administration, Marketing and Accounting from Cleveland State University.

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 $1.73 billion at March 31, 2023. The Bank operates 21 full-service banking centers and an LPL Financial® brokerage office serving Ada, Beachwood, Bellefontaine, Chardon, Cortland, Dublin, Garrettsville, Kenton, Mantua, Marysville, 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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FORWARD-LOOKING STATEMENTS

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.

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