MIDDLEFIELD, Ohio – Middlefield Banc Corp. reported results for the first six months of 2025, including a net income of $6.2 million, or 76 cents per diluted share, for the second quarter.
The net income was up from $4.2 million for the same period in 2024.
Earnings per share increased 46.2% year-over-year. Asset quality improved from the fourth quarter of 2024, with nonperforming assets to total assets decreasing by 32 basis points, to 1.30%.
Net interest income increased 15.6% to $17.4 million, compared with $15.1 million for the second quarter of 2024. The net interest margin was 3.88%, compared with 3.51% for the same period in 2024. Net interest income for the first six months of 2025 was $33.5 million, compared with $30.1 million during the same period last year.
Total loans increased by $84.2 million to a record $1.58 billion, while total assets increased to $96.2 million and a record $1.92 billion.
“The second quarter of 2025 was another strong quarter of growth, profitability and value creation for Middlefield,” said Ronald L. Zimmerly Jr., president and CEO. “Total loans have increased at an 8.2% annualized rate since the beginning of the year to a record $1.58 billion. Asset quality continued to improve sequentially, and our net interest margin for the second quarter of 2025 expanded 37 basis points year-over-year to 3.88%. These results led to strong growth in profitability during the quarter.”
Middlefield Bank operates 21 full-service banking centers and an LPL Financial brokerage office, including a full-service bank in Cortland.
The full report can be viewed HERE.