Middlefield Banc Corp. has acquired Emerald Bank
THE TRANSACTION
On April 20, 2007, Middlefield Banc Corp. (“MBC”), the parent company of The Middlefield Banking Company ("Middlefield"), announced that it completed the acquisition of Emerald Bank ("Emerald"). At March 31, 2007, Middlefield Banc Corp. had assets of approximately $357 million and Emerald had assets of approximately $42 million at December 31, 2006. Emerald will operate as a separate banking subsidiary of Middlefield under the Emerald Bank name, employing a commercial bank charter.
Our Client
MIDDLEFIELD BANC CORP.
Middlefield Banc Corp. is a financial holding company headquartered in Middlefield, Ohio. Its subsidiary, The Middlefield Banking Company, operates full service banking centers and a UVEST Financial Services® brokerage office serving Chardon, Garrettsville, Mantua, Middlefield, Newbury, and Orwell, Ohio, as well as a loan production office in Cortland, Ohio.
Transaction Partner
EMERALD BANK
Emerald was founded in 2003 as a savings bank in the community of Dublin, Ohio, a suburb of Columbus. Emerald will now function as a full service bank, offering a wide variety of commercial and consumer banking services to individuals and small to medium-sized businesses in the Dublin area.
CONTACT
Financial Institutions
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