Middlefield Banc Corp. Joins Russell 3000® Index
June 22 2020 - 8:00AM
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.
Additional information is available
at www.middlefieldbank.bank
About FTSE Russell:
FTSE Russell is a leading global index provider
creating and managing a wide range of indexes, data and analytic
solutions to meet client needs across asset classes, style and
strategies. Covering 98% of the investable market, FTSE Russell
indexes offer a true picture of global markets, combined with the
specialist knowledge gained from developing local benchmarks around
the world.
FTSE Russell index expertise and products are
used extensively by institutional and retail investors globally.
Approximately $16 trillion is currently benchmarked to FTSE Russell
indexes. For over 30 years, leading asset owners, asset managers,
ETF providers and investment banks have chosen FTSE Russell indexes
to benchmark their investment performance and create investment
funds, ETFs, structured products and index-based derivatives. FTSE
Russell indexes also provide clients with tools for asset
allocation, investment strategy analysis and risk management.
A core set of universal principles guides FTSE
Russell index design and management: a transparent rules-based
methodology is informed by independent committees of leading market
participants. FTSE Russell is focused on index innovation and
customer partnership applying the highest industry standards and
embracing the IOSCO Principles. FTSE Russell is wholly owned by
London Stock Exchange Group.
For more information, visit
www.ftserussell.com
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:Thomas G. CaldwellPresident/Chief
Executive OfficerMiddlefield Banc Corp.(440) 632-1666 Ext.
3200tcaldwell@middlefieldbank.com |
Investor and Media Contact: Andrew M.
BergerManaging DirectorSM Berger & Company, Inc. (216)
464-6400andrew@smberger.com |
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