Middlefield Banc Corp. Joins Russell 3000 Index

MIDDLEFIELD, Ohio, June 22, 2020 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ: MBCN) is set to join the broad-market Russell 3000 Index at the conclusion of the 2020 Russell indexes annual reconstitution, effective after the U.S. market opens on June 29.

“Inclusion in the Russell 3000 is an important milestone for Middlefield, and reflects the success of our long-term strategic plan,” stated Thomas G. Caldwell, Middlefield’s President and Chief Executive Officer. “From December 31, 2009 to May 31, 2020, $100 invested in Middlefield’s stock has achieved a total return of $277 compared to $205 for the Nasdaq Bank Index. We believe our awareness and exposure within the investment community will increase as a member of the Russell 3000 and we look forward to continue pursuing strategies that create long-term value for our shareholders.”

Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 8, ranking them by total market capitalization. Membership in the US all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 3000 Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About Middlefield Banc Corp.
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the bank holding company of The Middlefield Banking Company with total assets of $1.21 billion at March 31, 2020. The bank operates 16 full-service banking centers and an LPL Financial brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.