Michael C. Voinovich Elected to the Boards of Directors of Middlefield Banc Corp.
May 14 2020 - 9:00AM
Middlefield Banc Corp. (NASDAQ: MBCN) (“Middlefield”) today
announced Michael C. Voinovich has been elected to the Board of
Directors of Middlefield Banc Corp. Mr. Voinovich fills a
vacancy left by William A. Valerian, who retired from the Board of
Directors of Middlefield Banc Corp. effective May 13, 2020.
Thomas G. Caldwell, President and Chief
Executive Officer, stated: “Mike’s financial, banking, and capital
market experience adds immediate value to our Board, and I look
forward to his future contributions.”
Mr. Caldwell continued: “On behalf of everyone
at Middlefield and my fellow Directors, I want to thank Bill
Valerian for his service to the Company. We wish him well in
his retirement.”
Mr. Voinovich has served as a director of The
Middlefield Banking Company since March 1, 2020. Mr.
Voinovich is the Executive Vice President and Chief Investment
Officer of ECHO Health, Inc., a provider of innovative payment
processing services to the healthcare and insurance industries,
where he is responsible for overseeing the Company’s venture
capital and corporate investment portfolios. Prior to joining ECHO
Health, Inc. in January 2019, Mr. Voinovich was an investment
banker for 19 years representing financial institutions and their
holding companies. Most recently he was Managing Director and
a Member of the Firm Commitment Committee of the Philadelphia-based
investment banking firm of Boenning & Scattergood, Inc. In
addition, to his roles at Middlefield and ECHO Health, Mr.
Voinovich currently serves as a member of the Boards of Directors
of Bank of George and GBank Financial Holdings, Inc. in Las Vegas,
Nevada and as a director of RSI, LLC, a highly specialized
employment search firm focused on placing neurologists and
neurosurgeons across the United States. Mr. Voinovich is also a
director of the Positive Education Program, Greater Cleveland’s
largest non-profit agency serving developmental needs of children.
Mr. Voinovich is a graduate of John Carroll University with a B.S.
in Business Administration.
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.
Additional information is available at
www.middlefieldbank.bank
This press release of Middlefield Banc
Corp. and the reports Middlefield Banc Corp. files with the
Securities and Exchange Commission often contain “forward-looking
statements” relating to present or future trends or factors
affecting the banking industry and, specifically, the financial
operations, markets and products of Middlefield Banc Corp.
These forward-looking statements involve certain risks and
uncertainties. There are a number of important factors that could
cause Middlefield Banc Corp.’s future results to differ materially
from historical performance or projected performance. These
factors include, but are not limited to: (1) a significant increase
in competitive pressures among financial institutions; (2) changes
in the interest rate environment that may reduce interest margins;
(3) changes in prepayment speeds, charge-offs and loan loss
provisions; (4) less favorable than expected general economic
conditions; (5) legislative or regulatory changes that may
adversely affect businesses in which Middlefield Banc Corp. is
engaged; (6) technological issues which may adversely affect
Middlefield Banc Corp.’s financial operations or customers; (7) the
effect of the COVID-19 pandemic, including on our credit quality
and business operations, as well as its impact on general economic
and financial market conditions; (8) changes in the securities
markets; or (9) risk factors mentioned in the reports and
registration statements Middlefield Banc Corp. files with the
Securities and Exchange Commission. Middlefield Banc Corp.
undertakes no obligation to release revisions to these
forward-looking statements or to reflect events or circumstances
after the date of this press release.
Company
Contact: |
Investor and Media
Contact: |
Thomas G. CaldwellPresident/Chief
Executive OfficerMiddlefield Banc Corp.(440) 632-1666 Ext.
3200tcaldwell@middlefieldbank.com |
Andrew M. BergerManaging
DirectorSM Berger & Company, Inc. (216)
464-6400andrew@smberger.com |
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