MIDDLEFIELD, Ohio–(BUSINESS WIRE)–Middlefield Banc Corp. (NASDAQ: MBCN) (“Middlefield”) today announced
William J. Skidmore has been elected Chairman of the Boards of Directors
and James J. McCaskey has been elected Vice Chairman of Middlefield Banc
Corp, and The Middlefield Banking Company.
As Chairman of both Boards, Mr. Skidmore succeeds Carolyn J. Turk, who
announced in January that she would not be continuing in those roles
because of work-related time constraints. Mr. Skidmore has served as
Vice Chairman since May 2008 and is now being followed by Mr. McCaskey
in those roles.
“I am extremely honored and proud to serve as Middlefield’s Chairman of
the Board,” stated William J. Skidmore. “Middlefield has built a strong
platform that serves two unique Ohio markets and I look forward to
working with the company’s Board of Directors and management team to
create long-term value for our shareholders.”
“On behalf of everyone at Middlefield and my fellow Directors, I want to
thank Carolyn for her nearly six years of service as our Chairman and I
am pleased that Carolyn will continue her service as a Director,” stated
Thomas G. Caldwell, President and CEO of Middlefield Banc Corp. “Bill
has served Middlefield since 2007 and his business management and
banking experience in the northeast Ohio market allows him to provide
business and leadership expertise to the Board. I look forward to
working with Bill in his expanded leadership role as Middlefield’s
Chairman.”
Mr. Skidmore has been a Director of Middlefield since 2007 and has
served on the Executive, Compensation, and Corporate Governance and
Nominating Committees. He is the Northeast Ohio Senior District Manager
of Waste Management and has held progressively responsible positions
with Waste Management and a predecessor company since 1978. A graduate
of Bowling Green State University, he previously served on the Board of
Directors of both First County Bank in Chardon, Ohio, and of
Metropolitan National Bank in Youngstown, Ohio. He has served as a
representative to the board of the National Solid Waste Management
Association in Washington, D.C.
Mr. McCaskey has been a Director since 2004. Most recently he has served
on the Compensation Committee as well as the Corporate Governance and
Nominating Committee. He is the President of McCaskey Landscape &
Design, LLC, a design-build landscape development company. Mr. McCaskey
is currently a Trustee for Munson Township in Geauga County. He has
served as a director and trustee of several business and community
organizations including the Ohio Landscape Association, Kent State
University (Geauga), and Chardon Rotary. Mr. McCaskey holds dual
Bachelor’s Degrees in both Biology and Agricultural Production from
Wilmington College.
In addition, at the re-organization meeting the following four Directors
have been re-elected to new three year terms: Thomas G. Caldwell, Darryl
E. Mast, William J. Skidmore, and Carolyn J. Turk.
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the bank
holding company of The Middlefield Banking Company with total assets of
$1.28 billion at March 31, 2019. The bank operates 15 full-service
banking centers and an LPL Financial® brokerage office serving
Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua,
Middlefield, Newbury, Orwell, Powell, Solon, Sunbury, Twinsburg, and
Westerville. The Bank also operates a Loan Production Office in Mentor,
Ohio.
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.
Contacts
Company Contact:
Thomas G. Caldwell
President/Chief
Executive Officer
Middlefield Banc Corp.
(440) 632-1666 Ext.
3200
[email protected]
www.middlefieldbank.bank
Investor and Media Contact:
Andrew M. Berger
Managing
Director
SM Berger & Company, Inc.
(216) 464-6400
[email protected]
