Middlefield Banc Corp. 2025 net income rises

Overview

• Ohio bank's 2025 net interest income rose to $68.5 mln, up $7.8 mln yr/yr

• Net income for 2025 rose to $19.4 mln, up from $15.5 mln last year

• Company expects merger with Farmers National Banc Corp. to close in Q1 2026

Outlook

• Middlefield Banc expects merger with Farmers National Banc to close in Q1 2026

• Company anticipates merger will create opportunities for customers, employees, and shareholders

Result Drivers

• NET INTEREST INCOME - Increase driven by higher net interest margin and loan originations in owner occupied, commercial and industrial segments

• NONINTEREST INCOME - Growth attributed to service charges on deposit accounts and investment services

• NONINTEREST EXPENSE - Rise due to merger-related costs and accelerated vesting of performance share units

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Middlefield Banc Corp is $34.00, about 2.9% below its February 9 closing price of $35.02

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nGNXbQfy7C

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