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.

Additional information is available at www.middlefieldbank.bank

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.

Company Contact:            Investor and Media Contact:

James R. Heslop, II         Andrew M. Berger

Chief Executive Officer     Managing Director

Middlefield Banc Corp.      SM Berger & Company, Inc.

(440) 632-1666 Ext. 3219    (216) 464-6400

JHeslop@middlefieldbank.com andrew@smberger.com                         

Photos accompanying this announcement are available at

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