Middlefield Banc Q1 net income $4.2M ($0.51 EPS) vs $4.9M year ago; loans grow to record $1.49B

MIDDLEFIELD BANC CORP

2024-Q1 EPS reported $0.51

Net income $4.2M, down 14% from $4.9M in Q1 2023; diluted EPS $0.51 vs $0.60.
Total loans up 7.8% to record $1.49B; total deposits $1.45B, up 1.5% YoY.
Net interest margin narrowed to 3.53% from 4.19% year ago; net interest income $15.0M vs $16.5M.
Nonperforming assets improved to 0.60% of total assets; allowance for credit losses 1.41% of loans.
Repurchased 43,858 shares at avg $24.00; declared $0.20 dividend per share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MIDDLEFIELD BANC CORP reported the three months ended March 31, 2024 results: net income $4.2 million, EPS $0.51 per diluted share.

Period: the three months ended March 31, 2024
Net income: $4.2 million
EPS: $0.51 per diluted share
Result: reported results

Exact text from the filing

On April 30, 2024, Middlefield Banc Corp. issued a press release announcing financial results for the three month period ended March 31, 2024.

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Source: SEC EDGAR

accession 0001193125-24-123691

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