Market Overview

Middlefield Banc Corp. Announces 2018 Third Quarter Cash Dividend Payment

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Middlefield Banc Corp. (NASDAQ:MBCN) today announced that the company's
board of directors declared a quarterly cash dividend of $0.28 per
common share payable on September 14, 2018, to shareholders of record on
September 1, 2018.

Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a bank
holding company with total assets of $1.2 billion at June 30, 2018. 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. Additional information is available at www.middlefieldbank.bank.

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.

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