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 2020-06-30 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 2020-08-10 Other Events, Exhibits
8-K 2020-07-28 Regulation FD, Exhibits
8-K 2020-07-27 Other Events
8-K 2020-07-22 Earnings, Exhibits
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 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_195416.htm
EX-31.2 ex_195417.htm
EX-32 ex_195418.htm

Middlefield Banc Earnings 2020-06-30

Balance SheetIncome StatementCash Flow

mbcn20200630_10q.htm
0000836147 Middlefield Banc Corp. false --12-31 Q2 2020 0 0 10,000,000 10,000,000 7,298,829 7,294,792 6,369,467 6,423,630 929,362 871,162 0.15 35,494 0.14 58,200 0.30 35,494 0.28 0 0 73,147 0 0 0 2.1 0 0 0 0 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. 00008361472020-01-012020-06-30 xbrli:shares 00008361472020-08-04 thunderdome:item iso4217:USD 00008361472020-06-30 00008361472019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMember2020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-12-31 0000836147mbcn:CommercialAndIndustrialMember2020-06-30 0000836147mbcn:CommercialAndIndustrialMember2019-12-31 0000836147mbcn:HomeEquityLinesOfCreditMember2020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMember2019-12-31 0000836147mbcn:ConstructionAndOtherMember2020-06-30 0000836147mbcn:ConstructionAndOtherMember2019-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMember2020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-12-31 iso4217:USDxbrli:shares 00008361472020-04-012020-06-30 00008361472019-04-012019-06-30 00008361472019-01-012019-06-30 0000836147us-gaap:DepositAccountMember2020-04-012020-06-30 0000836147us-gaap:DepositAccountMember2019-04-012019-06-30 0000836147us-gaap:DepositAccountMember2020-01-012020-06-30 0000836147us-gaap:DepositAccountMember2019-01-012019-06-30 0000836147us-gaap:FinancialServiceOtherMember2020-04-012020-06-30 0000836147us-gaap:FinancialServiceOtherMember2019-04-012019-06-30 0000836147us-gaap:FinancialServiceOtherMember2020-01-012020-06-30 0000836147us-gaap:FinancialServiceOtherMember2019-01-012019-06-30 0000836147us-gaap:CommonStockMember2020-03-31 0000836147us-gaap:RetainedEarningsMember2020-03-31 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-31 0000836147us-gaap:TreasuryStockMember2020-03-31 00008361472020-03-31 0000836147us-gaap:RetainedEarningsMember2020-04-012020-06-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-30 0000836147us-gaap:CommonStockMember2020-06-30 0000836147us-gaap:RetainedEarningsMember2020-06-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-30 0000836147us-gaap:TreasuryStockMember2020-06-30 0000836147us-gaap:CommonStockMember2019-03-31 0000836147us-gaap:RetainedEarningsMember2019-03-31 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-31 0000836147us-gaap:TreasuryStockMember2019-03-31 00008361472019-03-31 0000836147us-gaap:RetainedEarningsMember2019-04-012019-06-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-30 0000836147us-gaap:CommonStockMember2019-04-012019-06-30 0000836147us-gaap:TreasuryStockMember2019-04-012019-06-30 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:CommonStockMember2019-12-31 0000836147us-gaap:RetainedEarningsMember2019-12-31 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-31 0000836147us-gaap:TreasuryStockMember2019-12-31 0000836147us-gaap:RetainedEarningsMember2020-01-012020-06-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-06-30 0000836147us-gaap:CommonStockMember2020-01-012020-06-30 0000836147us-gaap:TreasuryStockMember2020-01-012020-06-30 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:CommonStockMember2019-01-012019-06-30 0000836147us-gaap:RetainedEarningsMember2019-01-012019-06-30 0000836147us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-06-30 0000836147us-gaap:TreasuryStockMember2019-01-012019-06-30 xbrli:pure 0000836147mbcn:OverdraftFeesMember2020-04-012020-06-30 0000836147mbcn:OverdraftFeesMember2019-04-012019-06-30 0000836147mbcn:OverdraftFeesMember2020-01-012020-06-30 0000836147mbcn:OverdraftFeesMember2019-01-012019-06-30 0000836147mbcn:ATMBankingFeesMember2020-04-012020-06-30 0000836147mbcn:ATMBankingFeesMember2019-04-012019-06-30 0000836147mbcn:ATMBankingFeesMember2020-01-012020-06-30 0000836147mbcn:ATMBankingFeesMember2019-01-012019-06-30 0000836147mbcn:ServiceChargeAndOtherFeesMember2020-04-012020-06-30 0000836147mbcn:ServiceChargeAndOtherFeesMember2019-04-012019-06-30 0000836147mbcn:ServiceChargeAndOtherFeesMember2020-01-012020-06-30 0000836147mbcn:ServiceChargeAndOtherFeesMember2019-01-012019-06-30 0000836147us-gaap:RestrictedStockMember2019-12-31 0000836147us-gaap:RestrictedStockMember2020-01-012020-06-30 0000836147us-gaap:RestrictedStockMember2020-06-30 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:EmployeeStockOptionAndRestrictedStockMember2020-04-012020-06-30 0000836147us-gaap:RestrictedStockMember2019-06-30 0000836147mbcn:EmployeeStockOptionAndRestrictedStockMember2019-04-012019-06-30 0000836147mbcn:EmployeeStockOptionAndRestrictedStockMember2020-01-012020-06-30 0000836147mbcn:EmployeeStockOptionAndRestrictedStockMember2019-01-012019-06-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2020-06-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2020-06-30 0000836147us-gaap:FairValueMeasurementsRecurringMembermbcn:SubordinatedDebtSecuritiesMember2020-06-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-06-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-06-30 0000836147us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-06-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-06-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-06-30 0000836147us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-06-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-06-30 0000836147us-gaap:FairValueMeasurementsRecurringMember2020-06-30 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:FairValueMeasurementsNonrecurringMember2020-06-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-06-30 0000836147us-gaap:FairValueMeasurementsNonrecurringMember2020-06-30 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:AppraisalOfCollateralMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMembermbcn:AppraisalOfCollateralMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMembermbcn:AppraisalOfCollateralMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMembermbcn:AppraisalOfCollateralMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMembermbcn:AppraisalOfCollateralMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMembermbcn:AppraisalOfCollateralMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMembermbcn:AppraisalOfCollateralMember2019-12-31 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMembermbcn:AppraisalOfCollateralMember2019-12-31 0000836147us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-30 0000836147us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-30 0000836147us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-30 0000836147us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-30 0000836147us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-06-30 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:AccumulatedNetUnrealizedInvestmentGainLossMember2020-03-31 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-04-012020-06-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-06-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-31 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-06-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-03-31 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-04-012019-06-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-06-30 0000836147us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2018-12-31 0000836147mbcn:SubordinatedDebtSecuritiesMember2020-06-30 0000836147us-gaap:TaxableMunicipalBondsMember2020-06-30 0000836147us-gaap:NontaxableMunicipalBondsMember2020-06-30 0000836147us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2020-06-30 0000836147mbcn:SubordinatedDebtSecuritiesMember2019-12-31 0000836147us-gaap:TaxableMunicipalBondsMember2019-12-31 0000836147us-gaap:NontaxableMunicipalBondsMember2019-12-31 0000836147us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2019-12-31 0000836147mbcn:SmallBusinessAdministrationSbaCaresActPaycheckProtectionProgramMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2020-04-012020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2020-01-012020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2020-04-012020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2020-01-012020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2020-04-012020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2020-01-012020-06-30 0000836147mbcn:CommercialAndIndustrialMember2020-04-012020-06-30 0000836147mbcn:CommercialAndIndustrialMember2020-01-012020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMember2020-04-012020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMember2020-01-012020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2020-04-012020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2020-01-012020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-04-012019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-01-012019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-04-012019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-01-012019-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-04-012019-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-01-012019-06-30 0000836147mbcn:CommercialAndIndustrialMember2019-04-012019-06-30 0000836147mbcn:CommercialAndIndustrialMember2019-01-012019-06-30 0000836147mbcn:HomeEquityLinesOfCreditMember2019-04-012019-06-30 0000836147mbcn:HomeEquityLinesOfCreditMember2019-01-012019-06-30 0000836147mbcn:ConstructionAndOtherMember2019-04-012019-06-30 0000836147mbcn:ConstructionAndOtherMember2019-01-012019-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-04-012019-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-01-012019-06-30 utr:D 0000836147mbcn:ThresholdForLoansEvaluatedForImpairmentMember2020-06-30 0000836147mbcn:OutsideConsultantMembermbcn:ThresholdForLoansEvaluatedForImpairmentMember2020-06-30 0000836147mbcn:CriticizedRelationshipsMembermbcn:ThresholdForLoansEvaluatedForImpairmentMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:PassMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:SpecialMentionMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:SubstandardMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:DoubtfulMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:PassMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:SpecialMentionMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:SubstandardMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:DoubtfulMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:PassMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:SpecialMentionMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:SubstandardMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:DoubtfulMember2020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:PassMember2020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:SubstandardMember2020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:DoubtfulMember2020-06-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:PassMember2020-06-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:SpecialMentionMember2020-06-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:SubstandardMember2020-06-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:DoubtfulMember2020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:PassMember2020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:SpecialMentionMember2020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:SubstandardMember2020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:DoubtfulMember2020-06-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:PassMember2020-06-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:SpecialMentionMember2020-06-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:SubstandardMember2020-06-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:DoubtfulMember2020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:PassMember2020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:SubstandardMember2020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:DoubtfulMember2020-06-30 0000836147us-gaap:PassMember2020-06-30 0000836147us-gaap:SpecialMentionMember2020-06-30 0000836147us-gaap:SubstandardMember2020-06-30 0000836147us-gaap:DoubtfulMember2020-06-30 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:FinancingReceivables30To59DaysPastDueMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-06-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-06-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-06-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-06-30 0000836147mbcn:HomeEquityLinesOfCreditMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-06-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-06-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-06-30 0000836147mbcn:ConstructionAndOtherMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-06-30 0000836147us-gaap:FinancingReceivables30To59DaysPastDueMember2020-06-30 0000836147us-gaap:FinancingReceivables60To89DaysPastDueMember2020-06-30 0000836147us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-06-30 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:MultifamilyLoanMember2020-01-012020-06-30 0000836147mbcn:ConstructionAndOtherMember2020-01-012020-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2018-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2018-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2018-12-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-01-012019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2018-12-31 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-06-30 0000836147mbcn:CommercialAndIndustrialMember2018-12-31 0000836147mbcn:CommercialAndIndustrialMember2019-06-30 0000836147mbcn:HomeEquityLinesOfCreditMember2018-12-31 0000836147mbcn:HomeEquityLinesOfCreditMember2019-06-30 0000836147mbcn:ConstructionAndOtherMember2018-12-31 0000836147mbcn:ConstructionAndOtherMember2019-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2018-12-31 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-06-30 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2020-03-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2020-03-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2020-03-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2020-04-012020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2020-03-31 0000836147mbcn:CommercialAndIndustrialMember2020-03-31 0000836147mbcn:HomeEquityLinesOfCreditMember2020-03-31 0000836147mbcn:ConstructionAndOtherMember2020-03-31 0000836147mbcn:ConstructionAndOtherMember2020-04-012020-06-30 0000836147us-gaap:ConsumerPortfolioSegmentMember2020-03-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:OwnerOccupiedLoanMember2019-03-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:NonownerOccupiedLoanMember2019-03-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-03-31 0000836147us-gaap:CommercialRealEstatePortfolioSegmentMembermbcn:MultifamilyLoanMember2019-04-012019-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMember2019-03-31 0000836147mbcn:CommercialAndIndustrialMember2019-03-31 0000836147mbcn:HomeEquityLinesOfCreditMember2019-03-31 0000836147mbcn:ConstructionAndOtherMember2019-03-31 0000836147us-gaap:ConsumerPortfolioSegmentMember2019-03-31 0000836147mbcn:ProvisionFluctuationMembermbcn:COVID19Member2020-01-012020-06-30 0000836147mbcn:IncreaseInSpecificReserveMember2020-01-012020-06-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:SmallBusinessAdministrationSbaCaresActPaycheckProtectionProgramMember2020-01-012020-06-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:ProvisionFluctuationMember2019-01-012019-06-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:ProvisionFluctuationMember2019-06-30 0000836147mbcn:ConstructionAndOtherMembermbcn:ProvisionFluctuationMember2019-01-012019-06-30 0000836147mbcn:IncreaseInSpecificReserveMember2020-04-012020-06-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:SmallBusinessAdministrationSbaCaresActPaycheckProtectionProgramMember2020-04-012020-06-30 0000836147mbcn:ConstructionAndOtherMembermbcn:ProvisionFluctuationMember2019-04-012019-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2020-01-012020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMembermbcn:OtherRestructuringsMember2020-01-012020-06-30 0000836147mbcn:CommercialAndIndustrialMemberus-gaap:ExtendedMaturityMember2020-01-012020-06-30 0000836147mbcn:CommercialAndIndustrialMembermbcn:OtherRestructuringsMember2020-01-012020-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMemberus-gaap:ExtendedMaturityMember2019-01-012019-06-30 0000836147us-gaap:ResidentialPortfolioSegmentMembermbcn:OtherRestructuringsMember2019-01-012019-06-30 00008361472019-10-092019-10-09 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:RetailLoanMembermbcn:COVID19Member2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:MultifamilyLoanMembermbcn:COVID19Member2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:AmbulatoryCareNursingrehabilitationAndSocialAssistanceMembermbcn:COVID19Member2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:HospitalityAndTourismLoanMembermbcn:COVID19Member2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:RestaurantFoodServiceBarLoanMembermbcn:COVID19Member2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:OtherLoansMembermbcn:COVID19Member2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:COVID19Member2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:RetailLoanMember2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:HospitalityAndTourismLoanMember2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:AmbulatoryCareNursingrehabilitationAndSocialAssistanceMember2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:MultifamilyAndResidentialNooMember2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:RestaurantFoodServiceBarLoanMember2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMembermbcn:OtherLoansMember2020-06-30 0000836147us-gaap:CommercialPortfolioSegmentMember2020-06-30 0000836147mbcn:LoansOverTwoMillionMembermbcn:SmallBusinessAdministrationSbaCaresActPaycheckProtectionProgramMember2020-06-30 0000836147mbcn:LoansBetween350000AndTwoMillionMembermbcn:SmallBusinessAdministrationSbaCaresActPaycheckProtectionProgramMember2020-06-30 0000836147mbcn:LoansBetween150000And350000Membermbcn:SmallBusinessAdministrationSbaCaresActPaycheckProtectionProgramMember2020-06-30 0000836147mbcn:LoansUnder150000Membermbcn:SmallBusinessAdministrationSbaCaresActPaycheckProtectionProgramMember2020-06-30
 
 

 

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 June 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

 

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 Class

Trading Symbol(s)

Name of Each Exchange on Which Registered

 

 

Common Stock, Without Par Value

MBCN

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 August 4, 2020:  6,378,110

 

1

 

 

MIDDLEFIELD BANC CORP.

 

INDEX

 

Part I – Financial Information  
       
  Item 1. Financial Statements (unaudited)  
       
    Consolidated Balance Sheet as of June 30, 2020 and December 31, 2019  3
       
    Consolidated Statement of Income for the Three and Six Months ended June 30, 2020 and 2019 4
       
    Consolidated Statement of Comprehensive Income for the Three and Six Months ended June 30, 2020 and 2019 5
       
    Consolidated Statement of Changes in Stockholders' Equity for the Three and Six Months ended June 30, 2020 and 2019 6
       
    Consolidated Statement of Cash Flows for the Six Months ended June 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  33
       
  Item 3. Quantitative and Qualitative Disclosures about Market Risk 45
       
  Item 4. Controls and Procedures 46
       
Part II – Other Information  
       
  Item 1. Legal Proceedings  47
       
  Item 1a. Risk Factors 47
       
  Item 2. Unregistered Sales of Equity Securities and Use of Proceeds  48
       
  Item 3. Defaults by the Company on its Senior Securities 48
       
  Item 4. Mine Safety Disclosures 48
       
  Item 5. Other Information 48
       
  Item 6. Exhibits and Reports on Form 8-K 49
       
Signatures    54
     
Exhibit 31.1    
     
Exhibit 31.2     
     
Exhibit 32    

 

2

 

 

MIDDLEFIELD BANC CORP.

CONSOLIDATED BALANCE SHEET

(Dollar amounts in thousands, except share data)

(Unaudited)

 

  

June 30,

  

December 31,

 
  

2020

  

2019

 
         

ASSETS

        

Cash and due from banks

 $55,766  $35,113 

Federal funds sold

  2,520   - 

Cash and cash equivalents

  58,286   35,113 

Equity securities, at fair value

  581   710 

Investment securities available for sale, at fair value

  112,529   105,733 

Loans held for sale

  4,151   1,220 

Loans:

        

Commercial real estate:

        

Owner occupied

  110,134   102,386 

Non-owner occupied

  300,577   302,180 

Multifamily

  37,604   62,028 

Residential real estate

  227,427   234,798 

Commercial and industrial

  240,096   89,527 

Home equity lines of credit

  117,196   112,248 

Construction and other

  66,015   66,680 

Consumer installment

  11,210   14,411 

Total loans

  1,110,259   984,258 

Less: allowance for loan and lease losses

  10,210   6,768 

Net loans

  1,100,049   977,490 

Premises and equipment, net

  18,962   17,874 

Goodwill

  15,071   15,071 

Core deposit intangibles

  1,890   2,056 

Bank-owned life insurance

  16,723   16,511 

Accrued interest receivable and other assets

  15,078   10,697 
         

TOTAL ASSETS

 $1,343,320  $1,182,475 
         

LIABILITIES

        

Deposits:

        

Noninterest-bearing demand

 $270,738  $191,370 

Interest-bearing demand

  136,722   107,844 

Money market

  168,842   160,826 

Savings

  218,545   192,003 

Time

  363,420   368,800 

Total deposits

  1,158,267   1,020,843 

Short-term borrowings:

        

Federal funds purchased

  -   75 

Federal Home Loan Bank advances

  20,417   5,000 

Total short-term borrowings

  20,417   5,075 

Other borrowings

  17,162   12,750 

Accrued interest payable and other liabilities

  6,779   6,032 

TOTAL LIABILITIES

  1,202,625   1,044,700 
         

STOCKHOLDERS' EQUITY

        

Common stock, no par value; 10,000,000 shares authorized, 7,298,829 and 7,294,792 shares issued; 6,369,467 and 6,423,630 shares outstanding

  86,722   86,617 

Retained earnings

  67,150   65,063 

Accumulated other comprehensive income

  3,761   1,842 

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

  (16,938)  (15,747)

TOTAL STOCKHOLDERS' EQUITY

  140,695   137,775 
         

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

 $1,343,320  $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

   

Six Months Ended

 
   

June 30,

   

June 30,

 
   

2020

   

2019

   

2020

   

2019

 

INTEREST AND DIVIDEND INCOME

                               

Interest and fees on loans

  $ 12,281     $ 12,706     $ 24,359     $ 25,194  

Interest-earning deposits in other institutions

    7       169       101       356  

Federal funds sold

    -       25       21       32  

Investment securities:

                               

Taxable interest

    206       214       363       393  

Tax-exempt interest

    634       553       1,263       1,118  

Dividends on stock

    27       53       57       111  

Total interest and dividend income

    13,155       13,720       26,164       27,204  
                                 

INTEREST EXPENSE

                               

Deposits

    2,336       3,277       5,201       6,222  

Short-term borrowings

    32       79       67       292  

Other borrowings

    62       95       138       191  

Total interest expense

    2,430       3,451       5,406       6,705  
                                 

NET INTEREST INCOME

    10,725       10,269       20,758       20,499  
                                 

Provision for loan losses

    1,000       110       3,740       350  
                                 

NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES

    9,725       10,159       17,018       20,149  
                                 

NONINTEREST INCOME

                               

Service charges on deposit accounts

    566       530       1,119       1,038  

Investment securities gains on sale, net

    -       190       -       190  

Gain (loss) on equity securities

    31       (14 )     (129 )     44  

Earnings on bank-owned life insurance

    105       109       212       214  

Gain on sale of loans

    381       98       495       157  

Other income

    412       386       872       788  

Total noninterest income

    1,495       1,299       2,569       2,431  
                                 

NONINTEREST EXPENSE

                               

Salaries and employee benefits

    4,076       4,078       7,600       8,202  

Occupancy expense

    483       496       1,033       1,049  

Equipment expense

    307       291       580       526  

Data processing costs

    684       549       1,350       1,014  

Ohio state franchise tax

    281       261       549       520  

Federal deposit insurance expense

    74       100       197       230  

Professional fees

    369       403       718       834  

Advertising expense

    217       200       426       403  

Software amortization expense

    74       48       215       191  

Core deposit intangible amortization

    83       85       166       170  

Other expense

    1,041       971       2,107       1,843  

Total noninterest expense

    7,689       7,482       14,941       14,982  
                                 

Income before income taxes

    3,531       3,976       4,646       7,598  

Income taxes

    565       686       639       1,297  
                                 

NET INCOME

  $ 2,966     $ 3,290     $ 4,007     $ 6,301  
                                 

EARNINGS PER SHARE

                               

Basic

  $ 0.47     $ 0.51     $ 0.63     $ 0.97  

Diluted

  $ 0.46     $ 0.50     $ 0.62     $ 0.97  

 

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

   

Six Months Ended

 
   

June 30,

   

June 30,

 
   

2020

   

2019

   

2020

   

2019

 
                                 

Net income

  $ 2,966     $ 3,290     $ 4,007     $ 6,301  
                                 

Other comprehensive income:

                               

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

    7,592       1,122       2,429       2,128  

Tax effect

    (1,594 )     (236 )     (510 )     (447 )
                                 

Reclassification adjustment for investment securities gains included in net income

    -       (190 )     -       (190 )

Tax effect

    -       40       -       40  
                                 

Total other comprehensive income

    5,998       736       1,919       1,531  
                                 

Comprehensive income

  $ 8,964     $ 4,026     $ 5,926     $ 7,832  

 

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 (Loss)

  

Stock

  

Equity

 
                         

Balance, March 31, 2020

  7,298,829  $86,722  $65,140  $(2,237) $(16,938) $132,687 
                         

Net income

          2,966           2,966 

Other comprehensive income

              5,998       5,998 

Cash dividends ($0.15 per share)

          (956)          (956)
                         

Balance, June 30, 2020

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

 

              

Accumulated

         
              

Other

      

Total

 
  

Common Stock

  

Retained

  

Comprehensive

  

Treasury

  

Stockholders'

 
  

Shares

  

Amount

  

Earnings

  

Income

  

Stock

  

Equity

 
                         

Balance, March 31, 2019

  7,285,070  $86,437  $58,139  $641  $(13,518) $131,699 
                         

Net income

          3,290           3,290 

Other comprehensive income

              736       736 

Dividend reinvestment and purchase plan

  7,524   149               149 

Stock options exercised

  400   4               4 

Treasury shares acquired (35,494)

                  (706)  (706)

Cash dividends ($0.14 per share)

          (912)          (912)
                         

Balance, June 30, 2019

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

 

(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

          4,007           4,007 

Other comprehensive income

              1,919       1,919 

Stock-based compensation, net

  4,037   105               105 

Treasury shares acquired (58,200)

                  (1,191)  (1,191)

Cash dividends ($0.30 per share)

          (1,920)          (1,920)
                         

Balance, June 30, 2020

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

 

              

Accumulated

         
              

Other

      

Total

 
  

Common Stock

  

Retained

  

Comprehensive

  

Treasury

  

Stockholders'

 
  

Shares

  

Amount

  

Earnings

  

Income (Loss)

  

Stock

  

Equity

 
                         

Balance, December 31, 2018

  7,260,994  $85,925  $56,037  $(154) $(13,518) $128,290 
                         

Net income

         6,301         6,301 

Other comprehensive income

            1,531      1,531 

Dividend reinvestment and purchase plan

  16,568   345