Overview

* Middlefield Banc ( MBCN ) Q2 EPS rises 46.2% yr/yr to $0.76

* Net interest income for Q2 increases 15.6% to $17.4 mln

* Total loans reach record $1.58 bln, up 5.6% yr/yr

Outlook

* Company expects loan and core deposit growth to benefit 2025 profitability

* Middlefield plans to open new Westerville branch in H2 2025

* Company focuses on expanding presence in Central Ohio markets

Result Drivers

* LOAN GROWTH - Total loans increased by $84.2 mln, driven by higher home equity lines, commercial and industrial loans, and residential real estate loans

* NET INTEREST MARGIN - Expanded by 37 basis points to 3.88%, benefiting from strong loan growth and reduced FHLB advances

* REAL ESTATE GAIN - Net income benefited from a $1.2 mln gain on the exchange of real estate related to the relocation of the Westerville branch

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $0.76

Q2 Net $6.16

Income mln

Q2 Net $17.44

Interest mln

Income

Q2 Net 3.9%

Interest

Margin

Q2 $7.37

Pretax mln

Profit

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "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 ( MBCN ) is $28.00, about 6.6% below its July 21 closing price of $29.84

* The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)