Company Quick10K Filing
Middlefield Banc
Price47.81 EPS4
Shares3 P/E12
MCap156 P/FCF16
Net Debt-120 EBIT29
TEV36 TEV/EBIT1
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-09-30 Filed 2020-11-03
10-Q 2020-06-30 Filed 2020-08-04
10-Q 2020-03-31 Filed 2020-05-06
10-K 2019-12-31 Filed 2020-03-04
10-Q 2019-09-30 Filed 2019-11-05
10-Q 2019-06-30 Filed 2019-08-06
10-Q 2019-03-31 Filed 2019-05-07
10-K 2018-12-31 Filed 2019-03-06
10-Q 2018-09-30 Filed 2018-11-06
10-Q 2018-06-30 Filed 2018-08-07
10-Q 2018-03-31 Filed 2018-05-09
10-K 2017-12-31 Filed 2018-03-07
10-Q 2017-09-30 Filed 2017-11-14
10-Q 2017-06-30 Filed 2017-08-14
10-Q 2017-03-31 Filed 2017-05-15
10-K 2016-12-31 Filed 2017-03-15
10-Q 2016-09-30 Filed 2016-11-14
10-Q 2016-06-30 Filed 2016-08-10
10-Q 2016-03-31 Filed 2016-05-11
10-K 2015-12-31 Filed 2016-03-09
10-Q 2015-09-30 Filed 2015-11-10
10-Q 2015-06-30 Filed 2015-08-11
10-Q 2015-03-31 Filed 2015-05-13
10-K 2014-12-31 Filed 2015-03-11
10-Q 2014-09-30 Filed 2014-11-04
10-Q 2014-06-30 Filed 2014-08-12
10-Q 2014-03-31 Filed 2014-05-13
10-K 2013-12-31 Filed 2014-03-11
10-Q 2013-09-30 Filed 2013-11-05
10-Q 2013-06-30 Filed 2013-08-07
10-Q 2013-03-31 Filed 2013-05-09
10-K 2012-12-31 Filed 2013-03-13
10-Q 2012-09-30 Filed 2012-11-08
10-Q 2012-06-30 Filed 2012-08-14
10-Q 2012-03-31 Filed 2012-05-15
10-K 2011-12-31 Filed 2012-03-20
10-Q 2011-09-30 Filed 2011-11-10
10-Q 2011-06-30 Filed 2011-08-11
10-Q 2011-03-31 Filed 2011-05-16
10-K 2010-12-31 Filed 2011-03-22
10-Q 2010-09-30 Filed 2010-11-09
10-Q 2010-06-30 Filed 2010-08-11
10-Q 2010-03-31 Filed 2010-05-13
10-K 2009-12-31 Filed 2010-03-22
8-K 2020-11-30
8-K 2020-11-09
8-K 2020-11-09
8-K 2020-11-09
8-K 2020-10-21
8-K 2020-09-21
8-K 2020-08-10
8-K 2020-07-28
8-K 2020-07-27
8-K 2020-07-22
8-K 2020-06-22
8-K 2020-06-10
8-K 2020-05-13
8-K 2020-05-13
8-K 2020-05-11
8-K 2020-04-27
8-K 2020-02-25
8-K 2020-02-10
8-K 2020-01-24
8-K 2019-11-18
8-K 2019-11-18
8-K 2019-10-18
8-K 2019-10-09
8-K 2019-08-13
8-K 2019-07-29
8-K 2019-07-24
8-K 2019-07-19
8-K 2019-06-17
8-K 2019-05-15
8-K 2019-05-15
8-K 2019-05-15
8-K 2019-05-13
8-K 2019-04-22
8-K 2019-04-15
8-K 2019-03-11
8-K 2019-03-01
8-K 2019-02-11
8-K 2019-01-30
8-K 2019-01-17
8-K 2019-01-14
8-K 2019-01-08
8-K 2018-11-19
8-K 2018-11-15
8-K 2018-11-14
8-K 2018-10-17
8-K 2018-08-13
8-K 2018-07-31
8-K 2018-07-19
8-K 2018-07-09
8-K 2018-05-22
8-K 2018-05-16
8-K 2018-05-16
8-K 2018-05-15
8-K 2018-05-14
8-K 2018-04-19
8-K 2018-03-12
8-K 2018-01-23

MBCN 10Q Quarterly Report

Note 1 - Basis of Presentation
Note 2 – Revenue Recognition
Note 3 - Stock - Based Compensation
Note 4 - Earnings per Share
Note 5 - Fair Value Measurements
Note 6 – Accumulated Other Comprehensive Income
Note 7 – Investment and Equity Securities
Note 8 - Loans and Related Allowance for Loan and Lease Losses
Note 9 – Stock Split Disclosure
Note 10 – Risks and Uncertainties
Item 2. Management’S Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults By The Company on Its Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 ex_209406.htm
EX-31.2 ex_209407.htm
EX-32 ex_209408.htm

Middlefield Banc Earnings 2020-09-30

Balance SheetIncome StatementCash Flow

mbcn20200930_10q.htm
0000836147 Middlefield Banc Corp. false --12-31 Q3 2020 0 0 10,000,000 10,000,000 7,307,472 7,294,792 6,378,110 6,423,630 929,362 871,162 0.15 63,338 0.14 58,200 0.45 98,832 0.42 0 0 67,405 0 0 853,000 0 0 0 0 0 0 0 0 2 Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level III inputs which are not identifiable, less any associated allowance. Not within scope of ASC 606 All amounts are net of tax. Amounts in parentheses indicate debits to AOCI. For unrealized gains on available-for-sale securities, amounts in parentheses indicate expenses and other amounts indicate income. Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. 00008361472020-01-012020-09-30 xbrli:shares 00008361472020-11-03 thunderdome:item iso4217:USD 00008361472020-09-30 00008361472019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMember2020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-12-31 0000836147mbcn:CommercialAndIndustrialMember2020-09-30 0000836147mbcn:CommercialAndIndustrialMember2019-12-31 0000836147mbcn:HomeEquityLinesOfCreditMember2020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMember2019-12-31 0000836147mbcn:ConstructionAndOtherMember2020-09-30 0000836147mbcn:ConstructionAndOtherMember2019-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMember2020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-12-31 iso4217:USDxbrli:shares 00008361472020-07-012020-09-30 00008361472019-07-012019-09-30 00008361472019-01-012019-09-30 0000836147us-gaap:DepositAccountMember2020-07-012020-09-30 0000836147us-gaap:DepositAccountMember2019-07-012019-09-30 0000836147us-gaap:DepositAccountMember2020-01-012020-09-30 0000836147us-gaap:DepositAccountMember2019-01-012019-09-30 0000836147us-gaap:FinancialServiceOtherMember2020-07-012020-09-30 0000836147us-gaap:FinancialServiceOtherMember2019-07-012019-09-30 0000836147us-gaap:FinancialServiceOtherMember2020-01-012020-09-30 0000836147us-gaap:FinancialServiceOtherMember2019-01-012019-09-30 0000836147us-gaap:CommonStockMember2020-06-30 0000836147us-gaap:RetainedEarningsMember2020-06-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-30 0000836147us-gaap:TreasuryStockMember2020-06-30 00008361472020-06-30 0000836147us-gaap:RetainedEarningsMember2020-07-012020-09-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-30 0000836147us-gaap:CommonStockMember2020-07-012020-09-30 0000836147us-gaap:CommonStockMember2020-09-30 0000836147us-gaap:RetainedEarningsMember2020-09-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-30 0000836147us-gaap:TreasuryStockMember2020-09-30 0000836147us-gaap:CommonStockMember2019-06-30 0000836147us-gaap:RetainedEarningsMember2019-06-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-30 0000836147us-gaap:TreasuryStockMember2019-06-30 00008361472019-06-30 0000836147us-gaap:RetainedEarningsMember2019-07-012019-09-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-07-012019-09-30 0000836147us-gaap:CommonStockMember2019-07-012019-09-30 0000836147us-gaap:TreasuryStockMember2019-07-012019-09-30 0000836147us-gaap:CommonStockMember2019-09-30 0000836147us-gaap:RetainedEarningsMember2019-09-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-09-30 0000836147us-gaap:TreasuryStockMember2019-09-30 00008361472019-09-30 0000836147us-gaap:CommonStockMember2019-12-31 0000836147us-gaap:RetainedEarningsMember2019-12-31 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-31 0000836147us-gaap:TreasuryStockMember2019-12-31 0000836147us-gaap:RetainedEarningsMember2020-01-012020-09-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-09-30 0000836147us-gaap:CommonStockMember2020-01-012020-09-30 0000836147us-gaap:TreasuryStockMember2020-01-012020-09-30 0000836147us-gaap:CommonStockMember2018-12-31 0000836147us-gaap:RetainedEarningsMember2018-12-31 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-31 0000836147us-gaap:TreasuryStockMember2018-12-31 00008361472018-12-31 0000836147us-gaap:CommonStockMember2019-01-012019-09-30 0000836147us-gaap:RetainedEarningsMember2019-01-012019-09-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-09-30 0000836147us-gaap:TreasuryStockMember2019-01-012019-09-30 xbrli:pure 0000836147mbcn:OverdraftFeesMember2020-07-012020-09-30 0000836147mbcn:OverdraftFeesMember2019-07-012019-09-30 0000836147mbcn:OverdraftFeesMember2020-01-012020-09-30 0000836147mbcn:OverdraftFeesMember2019-01-012019-09-30 0000836147mbcn:ATMBankingFeesMember2020-07-012020-09-30 0000836147mbcn:ATMBankingFeesMember2019-07-012019-09-30 0000836147mbcn:ATMBankingFeesMember2020-01-012020-09-30 0000836147mbcn:ATMBankingFeesMember2019-01-012019-09-30 0000836147mbcn:ServiceChargeAndOtherFeesMember2020-07-012020-09-30 0000836147mbcn:ServiceChargeAndOtherFeesMember2019-07-012019-09-30 0000836147mbcn:ServiceChargeAndOtherFeesMember2020-01-012020-09-30 0000836147mbcn:ServiceChargeAndOtherFeesMember2019-01-012019-09-30 0000836147us-gaap:RestrictedStockMember2019-12-31 0000836147us-gaap:RestrictedStockMember2020-01-012020-09-30 0000836147us-gaap:RestrictedStockMember2020-09-30 0000836147us-gaap:RestrictedStockMembersrt:ScenarioForecastMember2020-12-31 0000836147us-gaap:RestrictedStockMembersrt:ScenarioForecastMember2021-12-31 0000836147us-gaap:RestrictedStockMembersrt:ScenarioForecastMember2022-12-31 0000836147us-gaap:RestrictedStockMembersrt:ScenarioForecastMember2023-12-31 0000836147mbcn:EmployeeStockOptionAndRestrictedStockMember2020-07-012020-09-30 0000836147mbcn:EmployeeStockOptionAndRestrictedStockMember2020-01-012020-09-30 0000836147us-gaap:RestrictedStockMember2019-09-30 0000836147mbcn:EmployeeStockOptionAndRestrictedStockMember2019-01-012019-09-30 0000836147mbcn:EmployeeStockOptionAndRestrictedStockMember2019-07-012019-09-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2020-09-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2020-09-30 0000836147us-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2020-09-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-09-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-09-30 0000836147us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-09-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-09-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-09-30 0000836147us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-09-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-09-30 0000836147us-gaap:FairValueMeasurementsRecurringMember2020-09-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2019-12-31 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2019-12-31 0000836147us-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2019-12-31 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-31 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-31 0000836147us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2019-12-31 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-12-31 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-12-31 0000836147us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-12-31 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-31 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-31 0000836147us-gaap:FairValueMeasurementsRecurringMember2019-12-31 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-09-30 0000836147us-gaap:FairValueMeasurementsNonrecurringMember2020-09-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-31 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2019-12-31 0000836147us-gaap:FairValueMeasurementsNonrecurringMember2019-12-31 00008361472019-01-012019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembermbcn:AppraisalOfCollateralMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMembersrt:MinimumMembermbcn:AppraisalOfCollateralMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMembersrt:MaximumMembermbcn:AppraisalOfCollateralMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMembersrt:WeightedAverageMembermbcn:AppraisalOfCollateralMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMembermbcn:AppraisalOfCollateralMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembermbcn:AppraisalOfCollateralMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMembersrt:MinimumMembermbcn:AppraisalOfCollateralMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMembersrt:MaximumMembermbcn:AppraisalOfCollateralMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputAppraisedValueMembersrt:WeightedAverageMembermbcn:AppraisalOfCollateralMember2019-12-31 0000836147us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-09-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-30 0000836147us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-09-30 0000836147us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-31 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31 0000836147us-gaap:EstimateOfFairValueFairValueDisclosureMember2019-12-31 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-06-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-07-012020-09-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-09-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-31 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-09-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-06-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-07-012019-09-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-09-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-12-31 0000836147mbcn:SubordinatedDebtSecuritiesMember2020-09-30 0000836147us-gaap:TaxableMunicipalBondsMember2020-09-30 0000836147us-gaap:NontaxableMunicipalBondsMember2020-09-30 0000836147us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-09-30 0000836147mbcn:SubordinatedDebtSecuritiesMember2019-12-31 0000836147us-gaap:TaxableMunicipalBondsMember2019-12-31 0000836147us-gaap:NontaxableMunicipalBondsMember2019-12-31 0000836147us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-12-31 0000836147mbcn:SmallBusinessAdministrationSbaCaresActPaycheckProtectionProgramMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2020-07-012020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2020-01-012020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2020-07-012020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2020-01-012020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2020-07-012020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2020-01-012020-09-30 0000836147mbcn:CommercialAndIndustrialMember2020-07-012020-09-30 0000836147mbcn:CommercialAndIndustrialMember2020-01-012020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMember2020-07-012020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMember2020-01-012020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2020-07-012020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2020-01-012020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-07-012019-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-01-012019-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-07-012019-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-01-012019-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-07-012019-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-01-012019-09-30 0000836147mbcn:CommercialAndIndustrialMember2019-07-012019-09-30 0000836147mbcn:CommercialAndIndustrialMember2019-01-012019-09-30 0000836147mbcn:HomeEquityLinesOfCreditMember2019-07-012019-09-30 0000836147mbcn:HomeEquityLinesOfCreditMember2019-01-012019-09-30 0000836147mbcn:ConstructionAndOtherMember2019-07-012019-09-30 0000836147mbcn:ConstructionAndOtherMember2019-01-012019-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-07-012019-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-01-012019-09-30 utr:D 0000836147mbcn:ThresholdForLoansEvaluatedForImpairmentMember2020-09-30 0000836147mbcn:OutsideConsultantMembermbcn:ThresholdForLoansEvaluatedForImpairmentMember2020-09-30 0000836147mbcn:CriticizedRelationshipsMembermbcn:ThresholdForLoansEvaluatedForImpairmentMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:PassMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:SpecialMentionMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:SubstandardMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:DoubtfulMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:PassMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:SpecialMentionMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:SubstandardMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:DoubtfulMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:PassMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:SpecialMentionMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:SubstandardMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:DoubtfulMember2020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:PassMember2020-09-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:SpecialMentionMember2020-09-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:SubstandardMember2020-09-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:DoubtfulMember2020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:PassMember2020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:SpecialMentionMember2020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:SubstandardMember2020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:DoubtfulMember2020-09-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:PassMember2020-09-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:SpecialMentionMember2020-09-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:SubstandardMember2020-09-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:DoubtfulMember2020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:DoubtfulMember2020-09-30 0000836147us-gaap:PassMember2020-09-30 0000836147us-gaap:SpecialMentionMember2020-09-30 0000836147us-gaap:SubstandardMember2020-09-30 0000836147us-gaap:DoubtfulMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:PassMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:SpecialMentionMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:SubstandardMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:DoubtfulMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:PassMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:SpecialMentionMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:SubstandardMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:DoubtfulMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:PassMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:SpecialMentionMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:SubstandardMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:DoubtfulMember2019-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2019-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-31 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:PassMember2019-12-31 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:SpecialMentionMember2019-12-31 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:SubstandardMember2019-12-31 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:DoubtfulMember2019-12-31 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:PassMember2019-12-31 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:SpecialMentionMember2019-12-31 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:SubstandardMember2019-12-31 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:DoubtfulMember2019-12-31 0000836147mbcn:ConstructionAndOtherMemberus-gaap:PassMember2019-12-31 0000836147mbcn:ConstructionAndOtherMemberus-gaap:SpecialMentionMember2019-12-31 0000836147mbcn:ConstructionAndOtherMemberus-gaap:SubstandardMember2019-12-31 0000836147mbcn:ConstructionAndOtherMemberus-gaap:DoubtfulMember2019-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2019-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2019-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2019-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:DoubtfulMember2019-12-31 0000836147us-gaap:PassMember2019-12-31 0000836147us-gaap:SpecialMentionMember2019-12-31 0000836147us-gaap:SubstandardMember2019-12-31 0000836147us-gaap:DoubtfulMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30 0000836147us-gaap:FinancingReceivables30To59DaysPastDueMember2020-09-30 0000836147us-gaap:FinancingReceivables60To89DaysPastDueMember2020-09-30 0000836147us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31 0000836147mbcn:ConstructionAndOtherMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31 0000836147mbcn:ConstructionAndOtherMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31 0000836147mbcn:ConstructionAndOtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31 0000836147us-gaap:FinancingReceivables30To59DaysPastDueMember2019-12-31 0000836147us-gaap:FinancingReceivables60To89DaysPastDueMember2019-12-31 0000836147us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2019-12-31 00008361472019-10-012019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2020-01-012020-09-30 0000836147mbcn:ConstructionAndOtherMember2020-01-012020-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2018-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2018-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2018-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-01-012019-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2018-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-09-30 0000836147mbcn:CommercialAndIndustrialMember2018-12-31 0000836147mbcn:CommercialAndIndustrialMember2019-09-30 0000836147mbcn:HomeEquityLinesOfCreditMember2018-12-31 0000836147mbcn:HomeEquityLinesOfCreditMember2019-09-30 0000836147mbcn:ConstructionAndOtherMember2018-12-31 0000836147mbcn:ConstructionAndOtherMember2019-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2018-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2020-07-012020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2020-06-30 0000836147mbcn:CommercialAndIndustrialMember2020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMember2020-06-30 0000836147mbcn:ConstructionAndOtherMember2020-06-30 0000836147mbcn:ConstructionAndOtherMember2020-07-012020-09-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-07-012019-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-06-30 0000836147mbcn:CommercialAndIndustrialMember2019-06-30 0000836147mbcn:HomeEquityLinesOfCreditMember2019-06-30 0000836147mbcn:ConstructionAndOtherMember2019-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-06-30 0000836147mbcn:ProvisionFluctuationMembermbcn:COVID19Member2020-01-012020-09-30 0000836147mbcn:IncreaseInSpecificReserveMember2020-01-012020-09-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:SmallBusinessAdministrationSbaCaresActPaycheckProtectionProgramMember2020-01-012020-09-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:ProvisionFluctuationMember2019-01-012019-09-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:ProvisionFluctuationMember2019-09-30 0000836147mbcn:ConstructionAndOtherMembermbcn:ProvisionFluctuationMember2019-01-012019-09-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:ProvisionFluctuationMember2020-07-012020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2020-07-012020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMembermbcn:OtherRestructuringsMember2020-07-012020-09-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:ExtendedMaturityMember2020-07-012020-09-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:OtherRestructuringsMember2020-07-012020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2020-01-012020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMembermbcn:OtherRestructuringsMember2020-01-012020-09-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:ExtendedMaturityMember2020-01-012020-09-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:OtherRestructuringsMember2020-01-012020-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2019-07-012019-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMembermbcn:OtherRestructuringsMember2019-07-012019-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2019-01-012019-09-30 0000836147us-gaap:ResidentialPortfolioSegmentMembermbcn:OtherRestructuringsMember2019-01-012019-09-30 00008361472019-10-092019-10-09 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:RetailLoanMembermbcn:COVID19Member2020-09-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:MultifamilyLoanMembermbcn:COVID19Member2020-09-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:AmbulatoryCareNursingrehabilitationAndSocialAssistanceMembermbcn:COVID19Member2020-09-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:HospitalityAndTourismLoanMembermbcn:COVID19Member2020-09-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:RestaurantFoodServiceBarLoanMembermbcn:COVID19Member2020-09-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:OtherLoansMembermbcn:COVID19Member2020-09-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:COVID19Member2020-09-30
 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2020

or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from ___________ to ___________

 

Commission File Number  001-36613

 

logo01.jpg

 

Middlefield Banc Corp.

(Exact Name of Registrant as Specified in its Charter)

 

Ohio 34-1585111
State or Other Jurisdiction of I.R.S. Employer Identification No.
Incorporation or Organization  
   
15985 East High Street, Middlefield, Ohio 44062-0035
Address of Principal Executive Offices Zip Code
   
                    440-632-1666                    
Registrant’s Telephone Number, Including Area Code
 
                                                                                                        
Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report
 
Securities Registered Pursuant to Section 12(b) of The Act:

 

Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock, Without Par ValueMBCN

The NASDAQ Stock Market, LLC

(NASDAQ Capital Market)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes ☒     No ☐

 

 Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes ☒    No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐ Accelerated filer ☒ 
Non-accelerated filer ☐   Smaller reporting company  
Emerging growth company      

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.     ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes     No ☒

 

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

 

Outstanding at November 3, 2020:  6,378,960

 

 

 

 

MIDDLEFIELD BANC CORP.

 

 

INDEX

 

Part I – Financial Information

 
       
  Item 1.

Financial Statements (unaudited)

 

       
   

Consolidated Balance Sheet as of September 30, 2020 and December 31, 2019

3

       
   

Consolidated Statement of Income for the Three and Nine Months ended September 30, 2020 and 2019

4

       
   

Consolidated Statement of Comprehensive Income for the Three and Nine Months ended September 30, 2020 and 2019

5

       
   

Consolidated Statement of Changes in Stockholders' Equity for the Three and Nine Months ended September 30, 2020 and 2019

6

       
   

Consolidated Statement of Cash Flows for the Nine Months ended September 30, 2020 and 2019

8

       
   

Notes to Unaudited Consolidated Financial Statements

10

       
  Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

34

       
  Item 3.

Quantitative and Qualitative Disclosures about Market Risk

48

       
  Item 4.

Controls and Procedures

49

       

Part II – Other Information

 
       
  Item 1.

Legal Proceedings

50

       
  Item 1a.

Risk Factors

50

       
  Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

51

       
  Item 3.

Defaults by the Company on its Senior Securities

51

       
  Item 4.

Mine Safety Disclosures

51

       
  Item 5.

Other Information

51

       
  Item 6.

Exhibits and Reports on Form 8-K

51

       

Signatures

56

       

Exhibit 31.1

 

       

Exhibit 31.2

 

       

Exhibit 32

 

 

2

 

 

MIDDLEFIELD BANC CORP.

CONSOLIDATED BALANCE SHEET

(Dollar amounts in thousands, except share data)

(Unaudited)

 

  

September 30,

  

December 31,

 
  

2020

  

2019

 
         

ASSETS

        

Cash and due from banks

 $46,097  $35,113 

Federal funds sold

  6,884   - 

Cash and cash equivalents

  52,981   35,113 

Equity securities, at fair value

  553   710 

Investment securities available for sale, at fair value

  112,968   105,733 

Loans held for sale

  10,457   1,220 

Loans:

        

Commercial real estate:

        

Owner occupied

  107,342   102,386 

Non-owner occupied

  310,512   302,180 

Multifamily

  39,622   62,028 

Residential real estate

  222,237   234,798 

Commercial and industrial

  258,313   89,527 

Home equity lines of credit

  115,223   112,248 

Construction and other

  60,613   66,680 

Consumer installment

  10,534   14,411 

Total loans

  1,124,396   984,258 

Less: allowance for loan and lease losses

  11,359   6,768 

Net loans

  1,113,037   977,490 

Premises and equipment, net

  18,633   17,874 

Goodwill

  15,071   15,071 

Core deposit intangibles

  1,807   2,056 

Bank-owned life insurance

  16,832   16,511 

Other real estate owned

  7,391   155 

Accrued interest receivable and other assets

  15,079   10,542 
         

TOTAL ASSETS

 $1,364,809  $1,182,475 
         

LIABILITIES

        

Deposits:

        

Noninterest-bearing demand

 $268,838  $191,370 

Interest-bearing demand

  179,080   107,844 

Money market

  184,936   160,826 

Savings

  231,696   192,003 

Time

  329,413   368,800 

Total deposits

  1,193,963   1,020,843 

Short-term borrowings:

        

Federal funds purchased

  -   75 

Federal Home Loan Bank advances

  -   5,000 

Total short-term borrowings

  -   5,075 

Other borrowings

  17,100   12,750 

Accrued interest payable and other liabilities

  11,690   6,032 

TOTAL LIABILITIES

  1,222,753   1,044,700 
         

STOCKHOLDERS' EQUITY

        

Common stock, no par value; 10,000,000 shares authorized, 7,307,472 and 7,294,792 shares issued; 6,378,110 and  6,423,630 shares outstanding

  86,871   86,617 

Retained earnings

  68,046   65,063 

Accumulated other comprehensive income

  4,077   1,842 

Treasury stock, at cost; 929,362 and 871,162 shares

  (16,938)  (15,747)

TOTAL STOCKHOLDERS' EQUITY

  142,056   137,775 
         

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

 $1,364,809  $1,182,475 

 

See accompanying notes to unaudited consolidated financial statements.

 

3

 

 

MIDDLEFIELD BANC CORP.

CONSOLIDATED STATEMENT OF INCOME  

(Dollar amounts in thousands, except per share data)

(Unaudited)

 

   

Three Months Ended

   

Nine Months Ended

 
   

September 30,

   

September 30,

 
   

2020

   

2019

   

2020

   

2019

 

INTEREST AND DIVIDEND INCOME

                               

Interest and fees on loans

  $ 12,603     $ 12,804     $ 36,962     $ 37,998  

Interest-earning deposits in other institutions

    8       193       109       549  

Federal funds sold

    -       24       21       56  

Investment securities:

                               

Taxable interest

    249       206       612       599  

Tax-exempt interest

    618       613       1,881       1,731  

Dividends on stock

    29       45       86       156  

Total interest and dividend income

    13,507       13,885       39,671       41,089  
                                 

INTEREST EXPENSE

                               

Deposits

    2,106       3,173       7,307       9,395  

Short-term borrowings

    14       42       81       334  

Other borrowings

    28       92       166       283  

Total interest expense

    2,148       3,307       7,554       10,012  
                                 

NET INTEREST INCOME

    11,359       10,578       32,117       31,077  
                                 

Provision for loan losses

    4,000       80       7,740       430  
                                 

NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES

    7,359       10,498       24,377       30,647  
                                 

NONINTEREST INCOME

                               

Service charges on deposit accounts

    691       571       1,810       1,609  

Investment securities gains on sale, net

    -       4       -       194  

(Loss) gain on equity securities

    (28 )     (32 )     (157 )     12  

Earnings on bank-owned life insurance

    109       109       321       323  

Gain on sale of loans

    660       128       1,155       285  

Other income

    379       325       1,251       1,113  

Total noninterest income

    1,811       1,105       4,380       3,536  
                                 

NONINTEREST EXPENSE

                               

Salaries and employee benefits

    3,597       4,272       11,197       12,474  

Occupancy expense

    497       535       1,530       1,584  

Equipment expense

    363       244       943       770  

Data processing costs

    683       580       2,033       1,594  

Ohio state franchise tax

    282       262       831       782  

Federal deposit insurance expense

    123       -       320       230  

Professional fees

    289       401       1,007       1,235  

Gain on other real estate owned

    (195 )     (18 )     (257 )     (130 )

Advertising expense

    217       202       643       605  

Software amortization expense

    70       100       285       206  

Core deposit intangible amortization

    83       86       249       256  

Other expense

    1,013       1,009       3,182       3,049  

Total noninterest expense

    7,022       7,673       21,963       22,655  
                                 

Income before income taxes

    2,148       3,930       6,794       11,528  

Income taxes

    295       661       934       1,958  
                                 

NET INCOME

  $ 1,853     $ 3,269     $ 5,860     $ 9,570  
                                 

EARNINGS PER SHARE

                               

Basic

  $ 0.29     $ 0.51     $ 0.92     $ 1.48  

Diluted

  $ 0.29     $ 0.50     $ 0.92     $ 1.47  

 

See accompanying notes to unaudited consolidated financial statements.

 

4

 

 

MIDDLEFIELD BANC CORP.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(Dollar amounts in thousands)

(Unaudited)

 

   

Three Months Ended

   

Nine Months Ended

 
   

September 30,

   

September 30,

 
   

2020

   

2019

   

2020

   

2019

 
                                 

Net income

  $ 1,853     $ 3,269     $ 5,860     $ 9,570  
                                 

Other comprehensive income:

                               

Net unrealized holding gain on available-for-sale investment securities

    400       883       2,829       3,011  

Tax effect

    (84 )     (100 )     (594 )     (547 )
                                 

Reclassification adjustment for investment securities gains included in net income

    -       (4 )     -       (194 )

Tax effect

    -       1       -       41  
                                 

Total other comprehensive income

    316       780       2,235       2,311  
                                 

Comprehensive income

  $ 2,169     $ 4,049     $ 8,095     $ 11,881  

 

See accompanying notes to unaudited consolidated financial statements.

 

5

 

 

MIDDLEFIELD BANC CORP.

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

(Dollar amounts in thousands, except share and per share data)

(Unaudited)

 

              

Accumulated

         
              

Other

      

Total

 
  

Common Stock

  

Retained

  

Comprehensive

  

Treasury

  

Stockholders'

 
  

Shares

  

Amount

  

Earnings

  

Income

  

Stock

  

Equity

 
                         

Balance, June 30, 2020

  7,298,829  $86,722  $67,150  $3,761  $(16,938) $140,695 
                         

Net income

          1,853           1,853 

Other comprehensive income

              316       316 

Stock options exercised

  500   4               4 

Stock-based compensation, net

  8,143   145               145 

Cash dividends ($0.15 per share)

          (957)          (957)
                         

Balance, September 30, 2020

  7,307,472  $86,871  $68,046  $4,077  $(16,938) $142,056 

 

              

Accumulated

         
              

Other

      

Total

 
  

Common Stock

  

Retained

  

Comprehensive

  

Treasury

  

Stockholders'

 
  

Shares

  

Amount

  

Earnings

  

Income

  

Stock

  

Equity

 
                         

Balance, June 30, 2019

  7,292,994  $86,590  $60,517  $1,377  $(14,224) $134,260 
                         

Net income

          3,269           3,269 

Other comprehensive income

              780       780 

Dividend reinvestment and purchase plan

  1,298   27               27 

Treasury shares acquired (63,338)

                  (1,523)  (1,523)

Cash dividends ($0.14 per share)

          (900)          (900)
                         

Balance, September 30, 2019

  7,294,292  $86,617  $62,886  $2,157  $(15,747) $135,913 

 

(continued on following page)

See accompanying notes to unaudited consolidated financial statements.

 

6

 

MIDDLEFIELD BANC CORP.

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY

(Dollar amounts in thousands, except share and per share data)

(Unaudited, continued from previous page)

 

              

Accumulated

         
              

Other

      

Total

 
  

Common Stock

  

Retained

  

Comprehensive

  

Treasury

  

Stockholders'

 
  

Shares

  

Amount

  

Earnings

  

Income

  

Stock

  

Equity

 
                         

Balance, December 31, 2019

  7,294,792  $86,617  $65,063  $1,842  $(15,747) $137,775 
                         

Net income

          5,860           5,860 

Other comprehensive income

              2,235       2,235 

Stock options exercised

  500   4               4 

Stock-based compensation, net

  12,180   250               250 

Treasury shares acquired (58,200)

                  (1,191)  (