MIDDLEFIELD, Ohio--(BUSINESS WIRE)--
Middlefield Banc Corp. (NASDAQ: MBCN) today announced that it was added
to the broad-market Russell 3000® Index as a result of the
Russell U.S. Indexes’ annual reconstitution.
“After joining the Russell Microcap® Index last year, I am
pleased with our continued growth, strong financial performance, and
history of creating value for shareholders. This has allowed the Company
to increase its valuation and position the Bank to join the small-cap
Russell 2000® Index,” commented Thomas G. Caldwell,
Middlefield’s President and Chief Executive Officer. As of the 2017
first quarter, Middlefield has successfully completed the Liberty
acquisition, increased assets to over $1.0 billion, and experienced
organic loan growth of 20.4%. Inclusion in the small-cap Russell 2000®
Index helps enhance Middlefield’s daily liquidity, while furthering
increasing the Company’s exposure to the financial community.”
Annual Russell indexes reconstitution captures the 4,000 largest U.S.
stocks as of the end of May, ranking them by total market
capitalization. Membership in the U.S. all-cap Russell 3000®
Index, which remains in place for one year, means automatic inclusion in
the large-cap Russell 1000® Index or small-cap Russell 2000®
Index as well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for active investment
strategies. Approximately $8.4 trillion in assets are benchmarked
against Russell’s U.S. indexes. Russell indexes are part of FTSE
Russell, a leading global index provider. For more information on the
Russell 3000® Index and the Russell U.S. Indexes
reconstitution, go to the “Russell Reconstitution” section on the FTSE
Russell website.
About Middlefield Banc Corp
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a bank
holding company with total assets of $1,071.5 million at March 31, 2017.
The bank operates 14 full-service banking centers and an LPL Financial®
brokerage office serving Beachwood, Chardon, Cortland, Dublin,
Garrettsville, Mantua, Middlefield, Newbury, Orwell, Solon, Sunbury,
Twinsburg, and Westerville. The Bank also operates a Loan Production
Office in Mentor, Ohio. Additional information is available at www.middlefieldbank.bank.
About FTSE Russell:
FTSE Russell is a leading global index provider creating and managing a
wide range of indexes, data and analytic solutions to meet client needs
across asset classes, style and strategies. Covering 98% of the
investable market, FTSE Russell indexes offer a true picture of global
markets, combined with the specialist knowledge gained from developing
local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by
institutional and retail investors globally. Approximately $12.5
trillion is currently benchmarked to FTSE Russell indexes. For over 30
years, leading asset owners, asset managers, ETF providers and
investment banks have chosen FTSE Russell indexes to benchmark their
investment performance and create investment funds, ETFs, structured
products and index-based derivatives. FTSE Russell indexes also provide
clients with tools for asset allocation, investment strategy analysis
and risk management.
A core set of universal principles guides FTSE Russell index design and
management: a transparent rules-based methodology is informed by
independent committees of leading market participants. FTSE Russell is
focused on index innovation and customer partnership applying the
highest industry standards and embracing the IOSCO Principles. FTSE
Russell is wholly owned by London Stock Exchange Group.
For more information, visit www.ftserussell.com.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170626005264/en/
Company Contact:
Middlefield Banc Corp.
Thomas G.
Caldwell, 440-632-1666 Ext. 3200
President/Chief Executive Officer
tcaldwell@middlefieldbank.com
or
Investor
and Media Contact:
SM Berger & Company, Inc.
Andrew M.
Berger, 216-464-6400
Managing Director
andrew@smberger.com
Source: Middlefield Banc Corp.