EXHIBIT 99

[Middlefield Banc Corp Logo]

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 Third Quarter Performance

MIDDLEFIELD, OHIO, October 21, 2003 #### Middlefield Banc Corp. (Pink Sheets: MBCN) reported third quarter 2003 net income of $702,185, up 9.8% from the $639,357 earned during the same period last year. Year-to-date earnings were $1,969,881, representing an increase of 11.9% over the net income reported for the first nine months of 2002. Diluted earnings per share for the third quarter and for the year-to-date are $0.60 and $1.70. These compare to the similar 2002 figures of $0.55 and $1.52, respectively.

The Company’s key ratios for the quarter and for the first nine months of 2003 reflect mixed results in comparison to the same periods last year. Returns on average assets (ROA) for the quarter and year-to-date were 1.10% and 1.08%, respectively, compared to 1.16% and 1.12% a year ago. Returns on average equity (ROE) were improved at 12.29% for the quarter and 11.74% year-to-date compared to 12.21% and 11.48% respectively last year. The Company’s efficiency ratio for the quarter was 60.19% and 59.49% for the first nine months of the year. The comparable ratios for 2002 were 55.61% and 57.79%, respectively. Middlefield Banc Corp.’s net interest margin was 3.91% for the quarter, up slightly from 2002’s 3.88%. For the nine month periods, the 2003 result is 3.91%, down slightly from the 4.01% recorded in 2002.

“During the first nine months of this year, we have opened a new banking office in Orwell and have begun offering a full range of financial services in conjunction with UVEST Financial Services®. Although these moves have negatively impacted our efficiency ratio, we do anticipate that the impact of both of these actions will be positive in the near term,” commented Thomas G. Caldwell, President and CEO. “The improved return on equity for both reporting periods with the resilience of our net interest margin for the third quarter are very gratifying.”

Non-interest income for the quarter increased 31.5% from the amount reported for the third quarter of 2002. A similar improvement was recorded for the three quarters of

2003, as non-interest income was 21.6% higher than the same period of last year. Contributing to these results were an overall increase in fee income related to deposit accounts as well as the earnings from bank-owned life insurance.

Non-interest expense for the quarter was $1.6 million, compared to $1.3 million for the same period of 2002. The comparable nine month figures are $4.5 million and $3.9 million respectively. The increased level of non-interest expense for 2003 reflects the opening of a new banking office, the addition of financial services, increased health care costs, and the introduction of a new logo and marketing image for the company and its subsidiary bank.

“Our new banking office in Orwell is well exceeding both loan and deposit projections,” noted Donald L. Stacy, Treasurer and Chief Financial Officer. “Our new logo and marketing campaign have been very well received. They serve to portray our organization as the dynamic financial services company that we have become. We anticipate that our affiliation with UVEST Financial Services® will have a positive improvement on our bottom line as it continues to mature.”

Total assets increased 16.1% over the prior year, ending the third quarter of 2003 at $261.0 million as compared to $224.8 million at September 30, 2002. Net loans at September 30, 2003, were $186.3 million, up 11.6% from September 30, 2002. The investment portfolio also experienced growth between the two periods, being up 34.2% over the 2002 balance. Deposit totals were $219.1 million at the end of the third quarter of 2003. This is an increase of 17.7% from the level at mid-year 2002.

Credit quality remained a strong focus for the company. For the year-to-date, the company has experienced net charge-offs of only $9,718. Non-performing loan and non-performing asset levels, at September 30, 2003, were 0.18% and 0.13%, respectively. The comparable figures at the same point in 2002 were 0.20% and 0.15%. The Company’s loan loss reserve at the end of the quarter was 1.38% of period-end loans, 6 basis points stronger than a year ago. President and Chief Executive Officer Thomas G. Caldwell stated, “We have added extra focus to the quality of our loan portfolio. We believe that our underwriting standards and our attention to our local communities and customers have permitted us to keep our exposures at reasonable levels.”

Caldwell continued, “Our commitment to our shareholders remains strong. Our continuing goal is to provide them with a fair return, while generating conservative growth. We firmly believe that our approach to being a full service community bank will position us well to continue this trend.”

Middlefield Banc Corp. and The Middlefield Banking Company are headquartered in Middlefield, Ohio. The bank operates full service banking centers and a UVEST Financial Services® brokerage office serving Chardon, Garrettsville, Mantua, Middlefield, and Orwell, Ohio.

This announcement contains forward-looking statements that involve risk and uncertainties, including changes in general economic and financial market conditions and the Company’s ability to execute its business plans. Although management believes the expectations reflected in such statements are reasonable, actual results may differ materially.

MIDDLEFIELD BANC CORP.
FINANCIAL HIGHLIGHTS
QUARTERLY DATA
(Dollars in thousands, except per share)

		SEPTEMBER 2003			JUNE 2003			SEPTEMBER 2002
EARNINGS:
	Net interest income	$	2,270,201		$	2,175,419			$	1,994,884
	Provision for loan losses		105,000			105,000				75,000
	Non-interest income		375,363			358,102				285,499
	Security (losses) gains		0			0				0
	Non-interest expense		1,592,379			1,613,208				1,268,026
	Federal income taxes		246,000			200,363				298,000
	NET INCOME	$	702,185		$	614,950			$	639,357
PER SHARE:
	Basic earnings	$	0.61		$	0.53			$	0.55
	Diluted earnings		0.60			0.53				0.55
	Common dividends		0.21			0.20				0.19
	Book value		19.83			19.61				18.36
WEIGHTED AVERAGE SHARES OUTSTANDING:
	Basic		1,158,971			1,156,245				1,156,181
	Diluted		1,162,366			1,159,275				1,159,277
PERIOD END BALANCE SHEET:
	Assets	$	260,968,090		$	249,885,875			$	224,843,468
	Securities		52,676,332			40,507,882				39,249,739
	Total loans		188,947,859			182,418,551				169,158,698
	Allowance for loan losses		2,605,767			2,512,866				2,226,813
	Deposits		219,070,209			206,115,632				186,082,858
	Total shareholders’ equity		22,979,984			22,709,943				21,228,075
	Total capital ratio		8.81	%		9.09	%			9.44	%
AVERAGE BALANCE SHEET:
	Assets	$	255,426,983		$	244,241,700			$	219,729,509
	Earning assets		238,564,234			228,518,674				210,969,233
	Loans		185,887,150			181,863,235				167,459,156
	Deposits		214,615,616			200,987,836				182,573,110
	Shareholders’ equity		22,845,964			20,882,567				20,950,729
KEY RATIOS (%):
	Return on average assets (ROA)		1.10	%		1.01	%			1.16	%
	Return on average shareholders’ equity (ROE)		12.29	%		11.78	%			12.21	%
	Net interest margin		3.91	%		3.94	%			3.88	%
	Net overhead		2.04	%		2.20	%			1.86	%
	Efficiency ratio		60.19	%		63.67	%			55.61	%
CREDIT QUALITY:
	Non-accrual loans	$	334,081		$	509,545			$	338,429
	Restructured loans		0			0				0
	90 day past due and accruing		0			0				0
	Non-performing loans		334,081			509,545				338,429
	Other real estate owned		0			0				0
	Non-performing assets	$	334,081		$	509,545			$	338,429
	Charge-offs	$	28,321		$	10,710			$	24,246
	Recoveries		16,222			28,965				14,015
	Net charge-offs (recoveries)	$	12,099		$	(18,255	)		$	10,231
	Allowance for loan losses as a percent of period-end loans (%)		1.38	%		1.38	%			1.32	%
	Net charge-offs (annualized) as a percent of average loans (%)		0.01	%		-0.04	%			0.01	%
	Non-performing loans as a percent of loans		0.18	%		0.28	%			0.20	%
	Non-performing assets as a percent of assets		0.13	%		0.20	%			0.15	%

MIDDLEFIELD BANC CORP.
FINANCIAL HIGHLIGHTS
YEAR-TO-DATE DATA
(Dollars in thousands, except per share)

		SEPTEMBER 2003			JUNE 2003			SEPTEMBER 2002
EARNINGS:
	Net interest income	$	6,582,110		$	4,311,909		$	5,872,019
	Provision for loan losses		315,000			210,000			225,000
	Non-interest income		1,009,502			634,139			830,291
	Security (losses) gains		542			542			0
	Non-interest expense		4,516,345			2,923,966			3,873,120
	Federal income taxes		790,928			544,928			844,000
	NET INCOME	$	1,969,881		$	1,267,696		$	1,760,190
PER SHARE:
	Basic earnings	$	1.70		$	1.10		$	1.52
	Diluted earnings		1.70			1.09			1.52
	Common dividends		0.61			0.40			0.55
	Book value		19.86			19.61			18.34
WEIGHTED AVERAGE SHARES OUTSTANDING:
	Basic		1,157,125			1,156,188			1,157,670
	Diluted		1,160,050			1,158,877			1,159,250
PERIOD END BALANCE SHEET:
	Assets	$	260,968,090		$	249,885,875		$	224,843,468
	Securities		52,676,333			40,507,882			39,249,739
	Total loans		188,947,859			182,418,551			169,158,698
	Allowance for loan losses		2,605,767			2,512,866			2,226,813
	Deposits		219,070,209			206,115,632			186,082,858
	Total shareholders’ equity		22,979,984			22,709,943			21,228,075
	Total capital ratio		8.81	%		9.09	%		9.44	%
AVERAGE BALANCE SHEET:
	Assets	$	244,288,115		$	237,073,107		$	210,290,121
	Earning assets		230,588,121			225,224,016			200,636,435
	Loans		181,176,430			178,782,048			161,137,481
	Deposits		201,055,436			194,162,968			174,917,622
	Shareholders’ equity		22,366,253			21,581,058			20,445,132
KEY RATIOS (%):
	Return on average assets (ROA)		1.08	%		1.07	%		1.12	%
	Return on average shareholders’ equity (ROE)		11.74	%		11.75	%		11.48	%
	Net interest margin		3.91	%		3.94	%		4.01	%
	Net overhead		2.03	%		2.03	%		2.02	%
	Efficiency ratio		59.49	%		59.11	%		57.79	%
CREDIT QUALITY:
	Non-accrual loans	$	334,081		$	509,545		$	338,429
	Restructured loans		0			0			0
	90 day past due and accruing		0			0			0
	Non-performing loans		334,081			509,545			338,429
	Other real estate owned		0			0			0
	Non-performing assets	$	334,081		$	509,545		$	338,429
	Charge-offs	$	56,641		$	28,319		$	115,349
	Recoveries		46,923			30,700			54,910
	Net charge-offs (recoveries)	$	9,718		$	(2,381	)	$	60,439
	Allowance for loan losses as a percent of period-end loans (%)		1.38	%		1.38	%		1.32	%
	Net charge-offs (annualized) as a percent of average loans (%)		0.01	%		0.00	%		0.05	%
	Non-performing loans as a percent of loans		0.18	%		0.28	%		0.20	%
	Non-performing assets as a percent of assets		0.13	%		0.20	%		0.15	%

MIDDLEFIELD BANC CORP.
CONSOLIDATED STATEMENTS OF INCOME
QUARTERLY DATA
(Dollars in thousands, except per share data)

			SEPTEMBER 2003		JUNE 2003		SEPTEMBER 2002
INTEREST INCOME
	Loans (including fees)		$	3,270,175	$	3,209,192	$	3,126,762
	Deposits in other institutions			3,850		4,719		36,235
	Securities:
		Taxable		270,921		275,853		307,806
		Exempt from federal income taxes		121,503		113,502		102,623
	Federal funds sold and other temp investments			20,837		9,906		0
	Dividends on FHLB stock			12,987		12,926		12,185
		Total interest income		3,700,273		3,626,098		3,585,611
INTEREST EXPENSE
	Deposits			1,227,318		1,236,828		1,410,512
	Federal funds purchased and securities sold under agreement to repurchase			365		1,049		5,777
	Federal Home Loan Bank advances			202,389		212,802		174,438
		Total interest expense		1,430,072		1,450,679		1,590,727
		Net interest income		2,270,201		2,175,419		1,994,884
	Provision for loan losses			105,000		105,000		75,000
		Net interest income after provision for loan losses		2,165,201		2,070,419		1,919,884
NON-INTEREST INCOME
	Service charges on deposit accounts			269,757		251,910		245,343
	Security gains (losses)			0		0		0
	Other operating income			105,606		106,192		40,156
		Total non-interest income		375,363		358,102		285,499
NON-INTEREST EXPENSE
	Salaries and employee benefits			829,874		810,919		625,624
	Net occupancy			105,248		106,492		85,296
	Equipment			89,649		57,586		92,112
	Data processing costs			93,601		70,958		87,228
	Ohio state franchise tax			75,000		75,000		67,500
	Other expense			399,007		492,253		310,266
		Total non-interest expense		1,592,379		1,613,208		1,268,026
Income before federal income taxes				948,185		815,313		937,357
Income tax expense				246,000		200,363		298,000
Net income			$	702,185	$	614,950	$	639,357
NET INCOME PER COMMON SHARE:
		Basic	$	0.61	$	0.53	$	0.55
		Diluted	$	0.60	$	0.53	$	0.55

MIDDLEFIELD BANC CORP.
CONSOLIDATED STATEMENTS OF INCOME
YEAR-TO-DATE DATA
(Dollars in thousands, except per share data)

			SEPTEMBER 2003		JUNE 2003		SEPTEMBER 2002
INTEREST INCOME
	Loans (including fees)		$	9,609,355	$	6,339,180	$	9,204,917
	Deposits in other institutions			15,670		11,820		91,358
	Securities:
		Taxable		855,382		584,461		867,607
		Exempt from federal income taxes		354,595		233,092		313,239
	Federal funds sold and other temp investments			40,050		19,213		0
	Dividends on FHLB stock			38,842		25,855		33,953
		Total interest income		10,913,894		7,213,621		10,511,074
INTEREST EXPENSE
	Deposits			3,709,505		2,482,187		4,155,138
	Federal funds purchased and securities sold under agreement to repurchase			3,704		3,339		9,323
	Federal Home Loan Bank advances			618,575		416,186		474,594
		Total interest expense		4,331,784		2,901,712		4,639,055
		Net interest income		6,582,110		4,311,909		5,872,019
	Provision for loan losses			315,000		210,000		225,000
		Net interest income after provision for loan losses		6,267,110		4,101,909		5,647,019
NON-INTEREST INCOME
	Service charges on deposit accounts			760,318		490,561		712,391
	Security gains (losses)			542		542		0
	Other operating income			249,184		143,578		117,900
		Total non-interest income		1,010,044		634,681		830,291
NON-INTEREST EXPENSE
	Salaries and employee benefits			2,287,264		1,457,390		1,877,547
	Net occupancy			310,292		205,044		260,498
	Equipment			227,261		137,612		256,487
	Data processing costs			281,031		187,430		256,359
	Ohio state franchise tax			225,050		150,050		202,550
	Other expense			1,185,447		786,440		1,019,679
		Total non-interest expense		4,516,345		2,923,966		3,873,120
Income before federal income taxes				2,760,809		1,812,624		2,604,190
Income tax expense				790,928		544,928		844,000
Net income			$	1,969,881	$	1,267,696	$	1,760,190
NET INCOME PER COMMON SHARE:
		Basic	$	1.70	$	1.10	$	1.52
		Diluted	$	1.70	$	1.09	$	1.52

MIDDLEFIELD BANC CORP.
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)

			SEPTEMBER 2003			JUNE 2003			SEPTEMBER 2002
ASSETS
Cash and due from banks			$	4,216,941		$	6,102,703			$	4,846,689
Federal funds sold and other temp investments				2,967,618			8,809,402				5,171,007
Securities:
	Available for sale			49,911,627			37,241,937				31,961,166
	Held to maturity			2,764,706			3,265,945				7,288,573
		Total securities		52,676,333			40,507,882				39,249,739
Loans:				188,947,859			182,418,551				169,158,698
Less: reserve for loan losses				2,605,767			2,512,866				2,226,813
		Net loans		186,342,092			179,905,685				166,931,885
Premises and equipment				6,913,457			6,908,111				6,330,353
Bank-owned life insurance				5,135,305			5,068,286				—
Accrued interest receivable and other assets				2,716,344			2,583,806				2,313,795
		Total assets	$	260,968,090		$	249,885,875			$	224,843,468
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits:
	Demand — non-interest bearing		$	29,986,047		$	29,595,597			$	25,583,496
	Demand — interest bearing			22,749,710			21,096,468				17,475,400
	Savings			64,722,200			54,867,549				47,372,399
	Time deposits			101,612,252			100,556,018				95,651,563
		Total deposits		219,070,209			206,115,632				186,082,858
Federal funds purchased and securities sold under agreements to repurchase				399,176			399,176				955,515
Accrued expenses and other liabilities				655,461			667,174				771,897
Federal Home Loan Bank advances				17,863,260			19,993,950				15,805,123
		Total liabilities		237,988,106			227,175,932				203,615,393
Shareholders’ equity:
	Common stock, no par value; 5,000,000 shares authorized			8,134,763			8,006,055				7,820,001
	Retained earnings			16,315,403			15,856,470				14,541,705
	Accumulated other comprehensive income			274,727			592,327				465,684
	Treasury stock			(1,744,909	)		(1,744,909	)			(1,599,315	)
		Total shareholders’ equity		22,979,984			22,709,943				21,228,075
		Total liabilities and shareholders’ equity	$	260,968,090		$	249,885,875			$	224,843,468
Miscellaneous data:
	Common shares issued			1,217,514			1,213,255				1,206,921
	Treasury shares			55,309			55,309				50,342