EXHIBIT 99

15985 East High Street
P. O. Box 35
Middlefield, Ohio 44062
Phone: 440/632-1666 FAX: 440/632-1700
www.middlefieldbank.com

PRESS RELEASE

Contact:	James R. Heslop, 2nd
	Executive Vice President/Chief Operating Officer
	(440) 632-1666 Ext. 3219
	jheslop@middlefieldbank.com

Middlefield Banc Corp. Reports Continued Strong Earnings and Asset Growth

MIDDLEFIELD, OHIO, October 29, 2010 ¨¨¨¨ Middlefield Banc Corp. (Pink Sheets: MBCN), parent of The Middlefield Banking Company and Emerald Bank, today announced results for the quarter and nine months ended September 30, 2010.

• Net income of $463,000, up 117.4% from the third quarter of 2009.

• Total assets increased $78.4 million, or 14.0%, from December 31, 2009.

• Net interest income in a year-to-year comparison grew $2.9 million or 27.8%.

• Total deposits stood at $563.5 million, an increase of 15.7% for the nine month period.

• Diluted earnings per common share for the quarter were $0.29.

• Tangible book value per share at September 30, 2010 stood at $23.44.

The company reported that earnings for the third quarter ended September 30, 2010, were $463,000 compared to earnings of $213,000 for the same period in the prior year. Earnings per diluted share for the 2010 quarter were $0.29, while those reported for the 2009 period were $0.14.

Net income for the nine months ended September 30, 2010 was $1.8 million, a $546,000, or 42.8% increase from the $1.3 million earned during the same period of 2009. Year-to-date diluted earnings per share were $1.16 in 2010 compared to $0.83 in 2009.

During the 2010 third quarter, net interest income increased $830,000 from the third quarter of 2009. The provision for loan losses in the third quarter of 2010 stood at $1.2 million, which was $120,000 less than the same period of 2009. Total non-interest expense increased $703,000, while non-interest income during the third quarter of 2010 was $5,000 above that reported in the same period of 2009.

Annualized returns on average equity (“ROE”) and average assets (“ROA”) for the 2010 third quarter were 4.54% and 0.29%, respectively, compared with 2.34% and 0.17% for the third quarter of 2009. The nine month period ending September 30, 2010 saw ROE and ROA of 6.31% and 0.41%, respectively. The comparable period 2009 results were 4.72% and 0.35%.

“We are pleased to report continued strong financial results for the third quarter and year-to-date periods, especially in light of an economic environment that continues to be extremely challenging,” stated Thomas G. Caldwell, President and Chief Executive Officer, “We have continued to enhance our profitability by following solid banking fundamentals. Our results demonstrate solid performance on many fronts, including continued core deposit growth, an expanded net interest margin, and additions to our capital base.”

“Because of the uncertainty associated with the magnitude and timing of the economic recovery, we believe it prudent to continue to position our balance sheet to better absorb potential credit losses. We have also taken the opportunity to add staff and processes to address problem credits. These efforts have begun to bear fruit in the third quarter and should lead to a decline in non-performing assets in the near term.”

“Our focus remains on delivering excellent customer service, offering a dynamic suite of products, and maximizing value for our shareholders,” Caldwell concluded.

Asset Quality

For the nine months ended September 30, 2010, the provision for loan losses increased 33.8% to $2.4 million, which compares to the $1.8 million for the same period of 2009. For the three month period ended September 30, 2010, the provision for loan losses was $1.2 million. During the same period of 2009, the provision was $1.3 million. “To address credit quality issues, we believe it only prudent to continue with a higher than historic level of loan loss provision,” stated Donald L. Stacy, Chief Financial Officer of Middlefield Banc Corp. “Our asset quality numbers are a reflection of the economic uncertainty that continues on a national scale. This continued weakness remains a concern and warrants measures to provide for the sound operation of our company.”

Stacy continued, “We are, however, finding that our problem credits have been properly identified as the increase in our non-performing assets has stabilized. Expectations are that an improvement in our asset quality numbers will be seen through 2011.”

The following table summarizes asset quality and reserve coverage ratios.

	Asset Quality History
	(dollars in thousands)
	9/30/2010			6/30/2010			3/31/2010			12/31/2009			9/30/2009
Nonperforming loans	$	20,983		$	20,053		$	18,143		$	16,285		$	14,368
Real estate owned		2,016			1,886			2,175			2,164			1,775
Nonperforming assets	$	22,999		$	21,939		$	20,318		$	18,450		$	16,143
Allowance for loan losses	$	5,971		$	5,834		$	5,279		$	4,937		$	4,422
Ratios:
Nonperforming loans to total loans		5.75	%		5.50	%		5.04	%		4.61	%		4.15	%
Nonperforming assets to total assets		3.61	%		3.61	%		3.42	%		3.30	%		3.12	%
Allowance for loan losses to total loans		1.63	%		1.60	%		1.47	%		1.40	%		1.28	%
Allowance for loan losses to nonperforming loans		28.46	%		29.09	%		29.10	%		30.31	%		30.78	%

The increased loan loss provision has significantly outpaced loan charge-offs. Net charge-offs for the third quarter of 2010 was 0.30% of average loans, while the ratio for the first nine months of 2010 was 0.37%. The ratio of the allowance for loan losses to total loans stood at 1.63% at September 30, 2010, compared to the 1.40% reported at December 31, 2009, and 1.28% at September 30, 2009. Based upon the evaluation of the allowance for loan losses, it is the belief of management that, as of September 30, 2010, the allowance for loan losses was adequate and reflects probable incurred losses within the portfolio.

Net Interest Income

Net Interest Income totaled $13.3 million for the first nine months of 2010. This represents an increase of 27.8% from the $10.4 million reported for the comparable period of 2009. The improvement in net interest income was primarily generated by an increase in both average earning assets and net interest margin. Interest income on investment securities increased $1.6 million while the company experienced a decrease in interest expense on deposits of $527,000. Continued action by the Federal Open Market Committee to hold interest rates at historic low levels has provided the company the opportunity to continue to lower funding costs. The pricing environment for new loans remains highly competitive within the company’s markets. Interest earnings on loans did increase $641,000 from the year ago period. This increase in earnings on loans was achieved in spite of the level on non-performing loans.

For the three month period ended September 30, 2010 compared to the same period of 2009, Middlefield’s net interest income was up 21.9%, or $830,000. The positive variance was based on an increase of $541,000 from the investment portfolio and an increase of $149,000 from the loan portfolio coupled with a decrease in interest expense of $110,000.

The net interest margin for the first nine months of 2010 was 3.39%, representing an increase from the 2009 same period result of 3.31%. The yield on earning assets dropped 59 basis points, while the cost of interest-bearing liabilities experienced a decrease of 78 basis points.

Non-Interest Income and Operating Expenses

Non-interest income increased $5,000 for the three-month period of 2010 from the comparable 2009 period. A gain on investment securities and slightly increased earnings on bank-owned life insurance served to offset a decrease in service charges on deposit accounts. The lower service charges on deposit accounts are attributable to Federal regulatory changes to overdraft rules. For the first nine months of 2010, deposit services charges were $73,000 below the same period of 2009. This was offset by an increase in investment services income as well as the collection of rents on OREO properties.

Non-interest expense of $3.7 million for the third quarter of 2010 was 23.1%, or $703,000 higher than the third quarter of 2009. Increases in salaries and employee benefits of $147,000 are primarily attributable to staff additions, as well as an increase in health insurance costs. An increase in the FDIC deposit insurance assessment of $111,000, recognition of higher losses on other real estate owned of $408,000, and an increase of $213,000 related to delinquent loans, foreclosures, and maintaining OREO properties were the primary contributors to higher 2010 non-interest expenses.

For the nine month period of 2010, total operating costs were $1.8 million above those of the 2009 comparable period. Contributing to the increase were salaries and employee benefits (up $463,000), equipment expense related to an upgrade in the computer network in April 2010 (up $133,000), loss on sale of OREO (up $567,000), and increased other expenses (up $578,000). The higher other expense figure includes $443,000 directly related to loan quality issues, of which $319,000 were in loan and other real estate owned expense in the company’s non-bank subsidiary, EMORECO, Inc.

Balance Sheet Growth

The company’s total assets as of September 30, 2010 stood at $637.1 million, an increase of 14.0% over the $558.7 million in total assets reported at December 31, 2009. Net loans at September 30, 2010, were $359.2 million, up $10.6 million, or 3.0%, over the $348.7 million reported at December 31, 2009. Total deposits at the end of the third quarter 2010 were $563.5 million, or 15.7% greater than the deposit level of $487.1 million at December 31, 2009.

The investment portfolio, which is entirely classified as available for sale, stood at $195.1 million at September 30, 2010. This figure represented growth within that portfolio of $58.4 million from the prior year-end. Stockholders’ equity at September 30, 2010, was $41.7 million. Book value per share as of September 30, 2010, was $26.31.

Dividends

During the third quarter of both 2010 and 2009, Middlefield paid cash dividends of $0.26 per share.

Middlefield Banc Corp. headquartered in Middlefield, Ohio is a multi-bank holding company with total assets of $637.1 million. The company’s lead bank, The Middlefield Banking Company, operates full service banking centers and a UVEST Financial Services^® brokerage office serving Chardon, Cortland, Garrettsville, Mantua, Middlefield, Newbury, and Orwell. The company also serves the central Ohio market through its Emerald Bank subsidiary, with offices in Dublin and Westerville, Ohio. Additional information is available at www.middlefieldbank.com and www.emeraldbank.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) changes in the securities markets; or (8) 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.

MIDDLEFIELD BANC CORP.

Consolidated Selected Financial Highlights

September 30, 2010 and 2009 and December 31, 2009

	(unaudited)				(unaudited)
	September 30,		December 31,		September 30,
Balance Sheet (period end)	2010		2009		2009
(Dollar amounts in thousands)
Assets
Cash and due from banks	$	13,645	$	12,909	$	11,143
Federal funds sold		37,701		28,123		19,534
Interest-bearing deposits in other institutions		124		121		121
Cash and cash equivalents		51,470		41,153		30,798
Investment securities available for sale		195,101		136,711		116,880
Loans:		365,219		353,597		345,919
Less: reserve for loan losses		5,971		4,937		4,422
Net loans		359,248		348,660		341,497
Premises and equipment		8,222		8,394		8,257
Goodwill		4,559		4,559		4,559
Bank-owned life insurance		7,911		7,706		7,638
Accrued interest receivable and other assets		10,578		11,475		8,317
Total Assets	$	637,089	$	558,658	$	517,946

	September 30,			December 31,			September 30,
	2010			2009			2009
Liabilities and Stockholders’ Equity
Non-interest bearing demand deposits	$	55,448		$	44,387		$	40,964
Interest bearing demand deposits		44,232			38,111			34,877
Money market accounts		71,097			56,451			42,079
Savings deposits		141,693			107,358			99,322
Time deposits		251,021			240,799			230,687
Total Deposits		563,491			487,106			447,929
Short-term borrowings		7,762			6,800			1,668
Federal funds purchased		0			0			0
Other borrowings		22,035			25,865			28,772
Other liabilities		2,111			2,180			2,098
Total Liabilities		595,399			521,951			480,467
Common equity		28,315			27,919			27,760
Retained earnings		15,558			14,960			14,861
Accumulated other comprehensive income		4,551			562			1,592
Treasury stock		(6,734	)		(6,734	)		(6,734	)
Total Stockholders’ Equity		41,690			36,707			37,479
Total Liabilities and Stockholders’ Equity	$	637,089		$	558,658		$	517,946

MIDDLEFIELD BANC CORP.

Consolidated Selected Financial Highlights

September 30, 2010 and 2009

(Dollar amounts in thousands)

(unaudited)

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
INTEREST INCOME
Interest and fees on loans	$	5,325		$	5,176		$	15,721		$	15,080
Interest-bearing deposits in other institutions		3			2			10			12
Federal funds sold		15			4			38			11
Investment securities
Taxable interest		1,290			976			3,832			2,753
Tax-exempt interest		702			475			1,941			1,375
Dividends on stock		33			15			82			46
Total interest income		7,368			6,648			21,624			19,277
INTEREST EXPENSE
Deposits		2,391			2,501			7,249			7,776
Short term borrowings		66			5			186			15
Other borrowings		147			222			520			717
Trust preferred securities		148			134			412			399
Total interest expense		2,752			2,862			8,367			8,907
NET INTEREST INCOME		4,616			3,786			13,257			10,370
Provision for loan losses		1,226			1,346			2,355			1,760
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES		3,390			2,440			10,902			8,610
NONINTEREST INCOME
Service charges on deposits		473			488			1,321			1,394
Earnings on bank-owned life insurance		72			0			204			0
Other income		132			68			419			197
Net securities gains (losses)		18			134			45			359
Total non-interest income		695			690			1,989			1,950
NONINTEREST EXPENSE
Salaries and employee benefits		1,543			1,396			4,767			4,304
Occupancy expense		224			215			717			691
Equipment expense		156			152			558			425
Data processing costs		160			224			575			692
Ohio state franchise tax		134			123			404			370
Federal deposit insurance expense		197			86			589			529
Professional fees		110			159			490			444
Loss on sale of other real estate owned		536			128			750			183
Other operating expense		682			556			2,278			1,700
Total non-interest expense		3,742			3,039			11,128			9,338
Income before income taxes		343			91			1,763			1,222
Provision for income taxes		(120	)		(122	)		(60	)		(55	)
NET INCOME	$	463		$	213		$	1,823		$	1,277

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2010			2009			2010			2009
Per common share data
Net income per common share — basic	$	0.29		$	0.14		$	1.16		$	0.83
Net income per common share — diluted	$	0.29		$	0.14		$	1.16		$	0.83
Dividends declared	$	0.26		$	0.26		$	0.78		$	0.78
Book value per share(period end)	$	26.31		$	24.07		$	26.31		$	24.07
Tangible book value per share (period end)	$	23.44		$	21.15		$	23.44		$	21.15
Dividend payout ratio		88.55	%		188.77	%		67.22	%		94.18	%
Average shares outstanding — basic		1,578,832			1,551,056			1,571,762			1,543,577
Average shares outstanding — diluted		1,578,832			1,551,069			1,572,726			1,544,677
Period ending shares outstanding		1,584,281			1,556,774			1,584,281			1,556,774
Selected ratios
Return on average assets		0.29	%		0.17	%		0.41	%		0.35	%
Return on average equity		4.54	%		2.34	%		6.31	%		4.72	%
Yield on earning assets		5.26	%		5.92	%		5.38	%		5.97	%
Cost of interest bearing liabilities		2.08	%		2.72	%		2.19	%		2.97	%
Net interest spread		3.19	%		3.20	%		3.19	%		3.00	%
Net interest margin		3.39	%		3.46	%		3.39	%		3.31	%
Efficiency (1)		65.97	%		64.39	%		68.50	%		71.68	%
Equity to assets at period end		6.54	%		7.24	%		6.54	%		7.24	%

(1) The efficiency ratio is calculated by dividing non-interest expense less amortization of intangibles by the sum of net interest income on a fully taxable equivalent basis plus non-interest income.

	September 30,			September 30,
Asset quality data	2010			2009
(Dollar amounts in thousands)
Non-accrual loans	$	18,681		$	11,313
90 day past due and accruing		2,302			3,055
Non-performing loans		20,983			14,368
Other real estate owned		2,016			1,775
Non-performing assets	$	22,999		$	16,143
Allowance for loan losses	$	5,971		$	4,422
Allowance for loan losses/total loans		1.63	%		1.28	%
Net charge-offs:
Quarter-to-date	$	1,089		$	592
Year-to-date		1,321			895
Net charge-offs to average loans
Quarter-to-date		0.30	%		0.17	%
Year-to-date		0.37	%		0.27	%
Non-performing loans/total loans		5.75	%		4.15	%
Allowance for loan losses/non-performing loans		28.46	%		30.78	%