Michael C. Ranttila Promoted to Vice President of Finance of Middlefield Banc Corp.
12 Mai 2022 - 2:00PM
Middlefield Banc Corp. (NASDAQ: MBCN) today announced that Michael
C. Ranttila has been promoted to Vice President of Finance of
Middlefield Banc Corp. As Vice President of Finance, Mr. Ranttila
has also become an Executive Officer of Middlefield Banc Corp. Mr.
Ranttila will continue to serve as Executive Vice President/Chief
Financial Officer of The Middlefield Banking Company a position he
has held since November 2019.
James R. Heslop, II, President and Chief
Executive Officer, stated, “Throughout Mike’s tenure at
Middlefield, he has played a pivotal role in our success and is a
valuable and trusted member of our management team. Mike’s
promotion is an important component of our succession plan and
reflects our continued commitment to attract, develop, and promote
experienced and motivated bankers. I look forward to Mike’s
expanded leadership and future contributions.”
A certified public accountant, Mr. Ranttila
first joined the Bank as Controller in March 2011 and has extensive
experience in financial reporting. Age 49, Mr. Ranttila is a Summa
Cum Laude graduate of Youngstown State University, holding a
Bachelor of Science in Business Administration, as well as a
graduate of The Ohio State University with a Masters of Business
Administration. Mr. Ranttila previously worked for Crowe as an
auditor of community banks.
Middlefield Banc Corp., headquartered in
Middlefield, Ohio, is the bank holding company of The Middlefield
Banking Company with total assets of $1.32 billion at March 31,
2022. The bank operates 16 full-service banking centers and an LPL
Financial® brokerage office serving Beachwood, Chardon, Cortland,
Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Plain
City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank
also operates a Loan Production Office in Mentor, Ohio.
Additional information is available at
www.middlefieldbank.bank
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) the effect of the
COVID-19 pandemic, including on our credit quality and business
operations, as well as its impact on general economic and financial
market conditions; (8) changes in the securities markets; or (9)
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.
Company Contact: |
Investor and Media Contact: |
James R. Heslop,
IIPresident/Chief Executive OfficerMiddlefield Banc Corp.(440)
632-1666 Ext. 3219JHeslop@middlefieldbank.com |
Andrew M. BergerManaging
DirectorSM Berger & Company, Inc. (216)
464-6400andrew@smberger.com |
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