Middlefield Banc reports Q4 EPS 60c, consensus 46c

Reports Q4: Return on average assets increased 26 basis points year-over-year to 1.04%; Asset quality remained stable compared to the 2024 third quarter with nonperforming assets to total assets of 1.62%.Ronald L. Zimmerly, Jr., President and Chief Executive Officer, stated, “Our 2024 fourth quarter marks one of the most profitable quarters in Middlefield’s 124-year history, supported by the talents of our team and the strengths of our community banking platform. During the quarter, we experienced higher net interest income, grew non-interest income, achieved stable asset quality, and controlled operating expenses. These results produced record fourth quarter net income and a 26-basis point year-over-year expansion in our annualized return on average assets. I am proud of this performance, highlighting Middlefield’s resilience and ability to navigate a dynamic banking environment.” “While we expect competition for deposits will continue, our loan pipeline remains robust, and our continued quarter over quarter increase in loans is indicative of strong origination activity across our Ohio markets. We believe 2025 will be another good year of profitable growth for Middlefield, reflecting our longstanding commitment to our communities, disciplined underwriting standards, and continued investments in our business,” concluded Mr. Zimmerly.