Middlefield Banc (MBCN) Q4 2025 earnings summary

Executive summary

• Achieved strong operating and financial growth in 2025, with continued momentum across the bank and a focus on completing a merger with Farmers National Banc Corp. in Q1 2026.

Financial highlights

• Net interest income for 2025 rose $7.8M to $68.5M, up from $60.7M in 2024; net interest margin increased to 3.80% from 3.52% year-over-year.

• Noninterest income grew $2.1M to $9.3M for 2025; noninterest expense increased to $54.8M, impacted by $1.8M in merger-related costs and accelerated vesting of performance share units.

• Net income for 2025 was $19.4M ($2.39/diluted share), up from $15.5M ($1.92/diluted share) in 2024.

• Pre-tax, pre-provision net income for 2025 was $23.0M, up from $20.4M in 2024.

• Total assets at year-end 2025 increased 2.7% to $1.90B; total loans grew 4.3% to $1.59B; deposits rose 1.8% to $1.47B.

Outlook and guidance

• Merger with Farmers National Banc Corp. expected to close in Q1 2026, anticipated to create new opportunities for stakeholders.