Middlefield Banc Posts 25% Net Income Gain to $19.4M in 2025
Middlefield Banc’s 2025 net interest income rose $7.8M to $68.5M, boosting net income to $19.4M ($2.39 per share) from $15.5M ($1.92). Total assets climbed 2.7% to $1.90B with loans up 4.3% to $1.59B, and merger-related expenses of $1.8M weighed on fourth-quarter profit.
1. Financial Highlights
For the year ended December 31, 2025, net interest income increased by $7.8 million to $68.5 million, while the net interest margin expanded to 3.80% from 3.52%. Noninterest income rose $2.1 million to $9.3 million, and full-year net income reached $19.4 million, or $2.39 per diluted share.
2. Fourth Quarter Results
In Q4 2025, net interest income grew to $17.4 million and net interest margin held at 3.80%, but net income fell to $3.1 million ($0.38 per share) from $4.8 million ($0.60) a year earlier. Noninterest expense included $1.8 million of merger-related costs and accelerated share-unit vesting.
3. Balance Sheet Growth
Total assets rose 2.7% year-over-year to $1.90 billion, driven by a 4.3% increase in loans to $1.59 billion and a 1.8% rise in deposits to $1.47 billion. Noninterest-bearing demand deposits represented 25.5% of total deposits, while brokered deposits declined to $23.1 million.
4. Merger Outlook
Middlefield Banc expects to complete its merger with Farmers National Banc Corp in the first quarter of 2026. Management anticipates the combination will create expanded lending capacity and enhanced shareholder value through broader market reach and operational synergies.