Middlefield Banc Corp. Announces Chief Executive Officer Transition

Ronald L. Zimmerly, Jr. Appointed Chief Executive Officer on January 1, 2024
James R. Heslop, II to Retire as Chief Executive Officer

MIDDLEFIELD, Ohio, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) today announced the Company has appointed Ronald L. Zimmerly, Jr. as Chief Executive Officer, succeeding James R. Heslop, II. Mr. Zimmerly, currently President and Director of Middlefield Banc Corp. (“Middlefield” or the “Company”) and The Middlefield Banking Company (the “Bank”), will assume the role of Chief Executive Officer of both entities on January 1, 2024, upon Mr. Heslop’s retirement. Mr. Heslop will resign from the Middlefield Banc Corp. Board of Directors on December 31, 2023. The Company’s Board of Directors has taken action to reduce the size of its Board of Directors from 13 to 12 effective on December 31, 2023.

William J. Skidmore, Chair of the Board of Middlefield Banc Corp., stated, “Ron is a proven leader who brings over 35 years of experience as an active member of the Ohio community banking industry. As President of Middlefield and the former Chief Executive Officer of Liberty Bancshares, Ron has the requisite skill set to ensure a seamless transition and continue our legacy of strong financial and operating performance. For over 120 years, Middlefield has focused on providing its Ohio communities with financial solutions and expert guidance that are tailored to meet our customers’ needs. Ron exemplifies these core values that have guided Middlefield’s success, and I am thrilled to announce Ron as the Company’s new Chief Executive Officer.”

Mr. Zimmerly joined Middlefield as President following the acquisition of Liberty Bancshares, Inc. on December 1, 2022. Prior to joining Middlefield, Mr. Zimmerly was the President and Chief Executive Officer of Liberty Bancshares, Inc. from 2010 to 2022. Mr. Zimmerly currently serves on the Board of the Hardin County Foundation Board of Directors, 2024 Chairman-Elect of the Ohio Bankers League and as a Board member of the Ohio Bankers Benefits Trust Board. In 1986, Mr. Zimmerly graduated from The Ohio State University with a Bachelor of Science Degree in Agriculture Economics, with a specialization in Finance. Mr. Zimmerly completed the Graduate School of Banking in Madison, Wisconsin.