Middlefield Banc Management

Management criteria checks 2/4

We currently do not have sufficient information about the CEO.

Key information

Ron Zimmerly

Chief executive officer

US$539.7k

Total compensation

CEO salary percentage	63.0%
CEO tenure	1.9yrs
CEO ownership	0.5%
Management average tenure	no data
Board average tenure	6.2yrs

Recent management updates

Recent updates

Middlefield Banc Corp. Just Missed Earnings - But Analysts Have Updated Their Models

Oct 26

CEO Compensation Analysis

How has Ron Zimmerly's remuneration changed compared to Middlefield Banc's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$14m
Jun 30 2024	n/a	n/a	US$16m
Mar 31 2024	n/a	n/a	US$17m
Dec 31 2023	US$540k	US$340k	US$17m
Sep 30 2023	n/a	n/a	US$17m
Jun 30 2023	n/a	n/a	US$18m
Mar 31 2023	n/a	n/a	US$17m
Dec 31 2022	US$359k	US$32k	US$16m

Compensation vs Market: Ron's total compensation ($USD539.70K) is below average for companies of similar size in the US market ($USD1.48M).

Compensation vs Earnings: Ron's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Ron Zimmerly (59 yo)

1.9yrs

Tenure

US$539,701

Compensation

Mr. Ronald L. Zimmerly Jr., also known as Ron, serves as President & Non-Independent Director of Middlefield Banc Corp. since December 01, 2022 and since January 1, 2024 serves as its Chief Executive Offic...

Board Members

Name	Position	Tenure	Compensation	Ownership
Ronald Zimmerly	CEO, President & Non-Independent Director	1.9yrs	US$539.70k	0.50% $ 1.2m
Darryl Mast	Independent Director	11.5yrs	US$49.85k	0.48% $ 1.2m
James McCaskey	Independent Vice Chairman	20.8yrs	US$45.35k	0.14% $ 353.1k
Carolyn Turk	Independent Director	20.8yrs	US$51.60k	0.39% $ 993.9k
Kenneth Jones	Independent Director	16.8yrs	US$53.10k	0.24% $ 598.5k
Michael Voinovich	Independent Director	4.5yrs	US$47.85k	0.21% $ 519.1k
William Skidmore	Independent Chairman of the Board	17.5yrs	US$58.60k	0.27% $ 688.2k
Mark Watkins	Independent Director	1.9yrs	US$9.00k	0.13% $ 333.9k
Spencer Cohn	Independent Director	1.9yrs	US$9.75k	no data
Thomas Bevan	Independent Director	7.8yrs	US$47.10k	0.65% $ 1.6m
Jennifer Moeller	Independent Director	1.5yrs	US$40.10k	0.048% $ 122.0k
Kevin DiGeronimo	Independent Director	3yrs	US$44.35k	0.030% $ 76.0k

6.2yrs

Average Tenure

60yo

Average Age

Experienced Board: MBCN's board of directors are considered experienced (6.2 years average tenure).

Middlefield Banc Management

Management criteria checks 2/4

Key information

Recent management updates

Darryl E. Mast Declines Re-Election as Member of the Board of Directors of Middlefield Banc Corp

Middlefield Banc Corp., Annual General Meeting, May 15, 2024

Independent Director recently bought US$52k worth of stock

High number of new directors

Middlefield Banc Corp. Announces CEO Changes

Independent Director recently bought US$108k worth of stock

Recent updates

Third quarter dividend of US$0.20 announced

Middlefield Banc Corp. Announces Cash Dividend for the Fourth Quarter of 2024, Payable on December 13, 2024

Investor sentiment improves as stock rises 18%

Now 27% undervalued

Third quarter 2024 earnings: EPS and revenues miss analyst expectations

Price target increased by 9.0% to US$28.33

Now 25% undervalued

Second quarter dividend of US$0.20 announced

Middlefield Banc Corp. Announces Third-Quarter Dividend, Payable on September 13, 2024

Now 26% undervalued

Consensus EPS estimates increase by 12%

Second quarter 2024 earnings: EPS exceeds analyst expectations

Darryl E. Mast Declines Re-Election as Member of the Board of Directors of Middlefield Banc Corp

First quarter dividend of US$0.20 announced

Middlefield Banc Corp. Declares Quarterly Cash Dividend, Payable on June 14, 2024

First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

Middlefield Banc Corp., Annual General Meeting, May 15, 2024

Price target decreased by 7.5% to US$28.67

Full year 2023 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of US$0.20 per share

Fourth quarter dividend of US$0.20 announced

Middlefield Banc Corp. Declares Cash Dividend for the First Quarter of 2024, Payable on March 15, 2024

Independent Director recently bought US$52k worth of stock

Consensus EPS estimates fall by 13%

Full year 2023 earnings: EPS and revenues miss analyst expectations

Price target increased by 7.9% to US$29.67

High number of new directors

Upcoming dividend of US$0.25 per share at 2.8% yield

Middlefield Banc Corp. Announces CEO Changes

Middlefield Banc Corp. Announces Special Cash Dividend, Payable on December 15, 2023

Middlefield Banc Corp. Just Missed Earnings - But Analysts Have Updated Their Models

Third quarter 2023 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of US$0.20 per share at 2.9% yield

Middlefield Banc Corp. Declares a Quarterly Cash Dividend, Payable on September 15, 2023

New major risk - Revenue and earnings growth

Middlefield Banc Corp. Reports Unaudited Net Charges Off for the Three Months Ended June 30, 2023

Second quarter 2023 earnings: EPS and revenues exceed analyst expectations

Investor sentiment improves as stock rises 16%

Upcoming dividend of US$0.20 per share at 3.4% yield

Middlefield Banc Corp. Announces 2023 Second Quarter Cash Dividend Payment, Payable on June 15, 2023

Now 21% undervalued after recent price drop

Full year 2022 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of US$0.20 per share at 2.8% yield

Middlefield Banc Corp. Announces 2023 First Quarter Cash Dividend Payment, Payable on March 15, 2023

Middlefield Banc Corp. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2022

Full year 2022 earnings: EPS and revenues miss analyst expectations

Price target increased to US$30.00

Middlefield Banc Corp. (NasdaqCM:MBCN) completed the acquisition of Liberty Bancshares, Inc. (Ada, OH) (OTCPK:LBSI) from Castle Creek Capital Partners VI LP, managed by Castle Creek Capital LLC and others.

Upcoming dividend of US$0.30 per share

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Middlefield Banc (NASDAQ:MBCN) Is Paying Out A Larger Dividend Than Last Year

Middlefield Banc Corp. Declares Special One-Time Dividend, Payable on December 15, 2022

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of US$0.17 per share

Independent Director recently bought US$108k worth of stock

Middlefield Banc Corp. Declares Quarterly Dividend, Payable on September 15, 2022

Middlefield Banc declares $0.17 dividend

Middlefield Banc Corp. Declares Cash Dividends for the First Half of 2022

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Consensus forecasts updated

Independent Director recently bought US$100k worth of stock

Price target increased to US$27.50

Middlefield Banc Corp. Announces Executive Changes

Upcoming dividend of US$0.17 per share

Middlefield Banc Corp. Declares Quarterly Cash Dividend, Payable on June 15, 2022

Price target increased to US$27.50

First quarter 2022 earnings: EPS exceeds analyst expectations

Ancora Holdings Issues Open Letter to Shareholders of Middlefield Banc

Ancora Advisors Sends Letter to Middlefield Banc