Middlefield Banc Corp. has acquired the Middlefield branch of Geauga Savings Bank
THE TRANSACTION
On August 3, 2007, Middlefield Banc Corp. (“MBC”), holding company for The Middlefield Banking Company and Emerald Bank, completed the acquisition of the Middlefield branch of Geauga Savings Bank (“Geauga”). At June 30, 2007, MBC had assets of approximately $406 million and Geauga had assets of approximately $583 million. MBC acquired approximately $21 million in deposits in this transaction.
Our Client
THE MIDDLEFIELD BANKING COMPANY
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
GEAUGA SAVINGS BANK
Geauga Savings Bank is a federally insured savings bank that offers a variety of savings products, including certificates of deposit, as well as a variety of residential, commercial, consumer, and construction loans. Geauga operates 4 branches, 3 of which are dedicated lending offices, serving Newbury, Chardon, Solon, and Lakewood, Ohio.
CONTACT
Financial Institutions
RECENT DPP TRANSACTIONS
