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 17% Increase in 3rd Quarter Earnings

MIDDLEFIELD, OHIO, October 19, 2004 ♦ ♦ ♦ ♦ Middlefield Banc Corp. (Pink Sheets: MBCN) today reported net earnings for the three months ended September 30, 2004 of $821,791, or $0.66 per diluted share. The third quarter 2004 earnings represent an increase of 17% over the $702,187, or $0.57 per diluted share, in net earnings that the company recorded for the quarter ended September 30, 2003.

For the nine months ended September 30, 2004, Middlefield Banc Corp. recorded net income of $2,415,567, or $1.95 per diluted share, an increase of 22.6% over the $1,969,881, or $1.61 per diluted share, in net income for the first nine months of 2003.

The key ratios for the company for the quarter and the first nine months of 2004 reflect positively in comparison to the results posted for the same periods of 2003. Returns on average assets (ROA) for the quarter and year-to-date were 1.15% and 1.17%, respectively, as compared to 1.10% and 1.08% a year ago. Return on average equity (ROE) for the third quarter of 2004, as well as for the nine-month period was 13.19%. The quarterly figure for 2003 was 12.29%, while the first nine months of 2003 showed a return of 11.74%.

Total assets ended the third quarter of 2004 at $289.2 million, an increase of 10.8% over the $261.0 million in total assets recorded at September 30, 2003, and 3.1% over the $280.5 million in assets on the books at June 30, 2004. Net loans at September 30, 2004 were $206.6 million, up 10.9% over the $186.3 million in net loans at September 30, 2003. The investment portfolio at September 30, 2004, stood at $55.8 million, an increase of 6.0% from the September 30, 2003 balance of $52.7 million.

The level of deposits, on a year-to-year comparison, increased 8.98%. Total deposits at September 30, 2004 were $238.7 million. This figure as of September 30, 2003, was $219.1 million. The company also increased its use of the Federal Home Loan Bank as a funding source. At the quarter-end, total borrowings from this provider were $24.0 million, up from$17.9 million a year earlier.

Commenting on Middlefield Banc Corp.’s third quarter results, President and CEO Thomas G. Caldwell said, “In a broad sense, we are pleased with our performance. Our earnings growth has been very satisfactory, while our asset levels approximate those within our financial plan. We are also very pleased with the growth in our non-interest income. This is primarily the result of the overdraft privilege program that we initiated earlier this year.”

“The level of our non-performing loans is higher than what we have seen in recent periods. However, this exposure is concentrated in a few credits that are well secured,” Caldwell continued. “We have, however, been able to maintain a relatively low level of loss within our loan portfolio, with our charge-offs for the year-to-date being only $5,722. On an annualized basis, this equates to 0.01% of our average loan totals.”

For the three months ended September 30, 2004, non-interest income grew 29% from the prior year’s comparable period. This variance on a nine-month basis was 35.3%. The primary components of the overall increase, in addition to periodic changes in the level of service charges, were the income from bank-owned life insurance as well as the implementation of an overdraft privilege program during the second quarter of 2004.

Non-interest expense for the third quarter was $1.8 million, representing a 13.3% increase over the $1.6 million recorded in the third quarter of 2003. During the quarter the banking subsidiary upgraded the capabilities of its Internet banking service, which contributed to a part of the increase. Additionally, normal salary costs, increased health insurance costs, and increased marketing costs impacted the results for 2004.

Middlefield Banc Corp. is a financial holding company headquartered in Middlefield, Ohio. Its sole subsidiary, The Middlefield Banking Company, 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
(Unaudited)

	September 2004			June 2004			September 2003
Earnings:
Net interest income	$	2,522,105		$	2,477,236		$	2,270,202
Provision for loan losses		51,000			30,000			105,000
Non-interest income		484,244			485,889			375,364
Security (losses) gains		0			0			0
Non-interest expense		1,803,558			1,682,607			1,592,379
Federal income taxes		330,000			342,000			246,000
Net income	$	821,791		$	908,518		$	702,187
Per share:
Basic earnings	$	0.67		$	0.74		$	0.58
Diluted earnings		0.66			0.74			0.57
Common dividends		0.22			0.21			0.20
Book value		20.67			19.75			18.79
Weighted average shares outstanding:
Basic		1,232,047			1,228,039			1,219,685
Diluted		1,239,837			1,235,829			1,223,250
Period end balance sheet:
Assets	$	289,214,138		$	280,479,893		$	260,968,090
Securities		55,840,461			56,189,796			52,676,332
Total loans		209,257,288			203,103,305			188,947,859
Allowance for loan losses		2,626,548			2,595,791			2,605,767
Deposits		238,739,091			236,038,287			219,070,209
Total stockholders’ equity		25,509,396			24,315,949			22,979,984
Total capital ratio		8.82	%		8.67	%		8.81	%
Average balance sheet:
Assets	$	284,847,016		$	276,994,334		$	255,426,983
Earning assets		269,119,544			260,052,997			238,564,234
Loans		206,931,239			201,722,951			185,887,150
Deposits		239,030,560			232,269,556			214,615,616
Stockholders’ equity		24,912,672			24,328,300			22,845,964
Key ratios (%):
Return on average assets (ROA)		1.15	%		1.31	%		1.10	%
Return on average stockholders’ equity (ROE)		13.19	%		14.94	%		12.29	%
Net interest margin		3.86	%		3.90	%		3.91	%
Net overhead		1.96	%		1.84	%		2.04	%
Efficiency ratio		59.99	%		56.78	%		60.19	%
Credit quality:
Non-accrual loans	$	454,959		$	432,308		$	334,081
Restructured loans		0			0			0
90 day past due and accruing		773,162			654,944			0
Non-performing loans		1,228,121			1,087,252			334,081
Other real estate owned		0			0			0
Non-performing assets	$	1,228,121		$	1,087,252		$	334,081
Charge-offs	$	28,321		$	10,340		$	28,321
Recoveries		16,222			30,680			16,222
Net charge-offs (recoveries)	$	12,099		$	(20,340	)	$	12,099
Allowance for loan losses as a percent of period-end loans (%)		1.26	%		1.28	%		1.38	%
Net charge-offs (annualized) as a percent of average loans (%)		0.02	%		-0.04	%		0.01	%
Non-performing loans as a percent of loans		0.59	%		0.54	%		0.18	%
Non-performing assets as a percent of assets		0.42	%		0.39	%		0.13	%

Middlefield Banc Corp.
Financial Highlights
Year-to-Date Data
(Unaudited)

	September 2004			June 2004			September 2003
Earnings:
Net interest income	$	7,415,198		$	4,893,093		$	6,582,110
Provision for loan losses		111,000			60,000			315,000
Non-interest income		1,366,852			882,608			1,009,502
Security gains		0			0			542
Non-interest expense		5,267,483			3,463,925			4,516,345
Income taxes		988,000			658,000			790,928
Net income	$	2,415,567		$	1,593,776		$	1,969,881
Per share:
Basic earnings	$	1.97		$	1.30		$	1.62
Diluted earnings		1.95			1.29			1.61
Common dividends		0.64			0.42			0.58
Book value		20.67			19.75			18.79
Weighted average shares outstanding:
Basic		1,228,292			1,226,394			1,217,715
Diluted		1,235,595			1,233,697			1,220,786
Period end balance sheet:
Assets	$	289,214,138		$	280,479,893		$	260,968,090
Securities		55,840,461			56,189,797			52,676,333
Total loans		209,257,288			203,103,305			188,947,859
Allowance for loan losses		2,626,548			2,595,791			2,605,767
Deposits		238,739,091			236,038,287			219,070,209
Total stockholders’ equity		25,509,396			24,315,949			22,979,984
Total capital ratio		8.82	%		8.67	%		8.81	%
Average balance sheet:
Assets	$	276,453,880		$	271,424,671		$	244,288,115
Earning assets		260,362,611			255,319,528			230,588,121
Loans		201,473,297			198,714,337			181,176,430
Deposits		231,442,081			227,606,146			201,055,436
Stockholders’ equity		24,417,577			23,910,132			22,366,253
Key ratios (%):
Return on average assets (ROA)		1.17	%		1.17	%		1.08	%
Return on average stockholders’ equity (ROE)		13.19	%		13.33	%		11.74	%
Net interest margin		3.93	%		3.94	%		3.91	%
Net overhead		2.00	%		2.02	%		2.03	%
Efficiency ratio		59.98	%		59.97	%		59.49	%
Credit quality:
Non-accrual loans	$	454,959		$	432,308		$	334,081
Restructured loans		0			0			0
90 day past due and accruing		773,162			654,944			0
Non-performing loans		1,228,121			1,087,252			334,081
Other real estate owned		0			0			0
Non-performing assets	$	1,228,121		$	1,087,252		$	334,081
Charge-offs	$	59,738		$	21,959		$	56,641
Recoveries		54,016			36,480			46,923
Net charge-offs (recoveries)	$	5,722		$	(14,521	)	$	9,718
Allowance for loan losses as a percent of period-end loans (%)		1.26	%		1.28	%		1.38	%
Net charge-offs (annualized) as a percent of average loans (%)		0.01	%		-0.01	%		0.01	%
Non-performing loans as a percent of loans		0.59	%		0.54	%		0.18	%
Non-performing assets as a percent of assets		0.42	%		0.39	%		0.13	%

Middlefield Banc Corp.
Consolidated Statements of Income
Quarterly Data
(Unaudited)

	September 2004		June 2004		September 2003
INTEREST INCOME
Interest and fees on loans	$	3,432,153	$	3,385,891	$	3,270,175
Interest bearing deposits in other institutions		1,538		1,662		3,850
Investment securities:
Taxable		354,392		339,046		270,921
Tax-exempt interest		166,645		137,608		121,503
Federal funds sold		10,884		12,055		20,836
Dividends on FHLB stock		12,964		12,935		12,988
Total interest income		3,978,576		3,889,197		3,700,273
INTEREST EXPENSE
Deposits		1,246,617		1,208,525		1,227,318
Short-term borrowings		304		181		365
Other borrowings		209,550		203,255		202,388
Total interest expense		1,456,471		1,411,961		1,430,071
Net interest income		2,522,105		2,477,236		2,270,202
Provision for loan losses		51,000		30,000		105,000
Net interest income after provision for loan losses		2,471,105		2,447,236		2,165,202
NON-INTEREST INCOME
Service charges on deposit accounts		371,495		381,121		269,757
Earnings on bank-owned life insurance		53,114		47,860		67,019
Other operating income		59,635		56,908		38,588
Total non-interest income		484,244		485,889		375,364
NON-INTEREST EXPENSE
Salaries and employee benefits		941,353		790,815		829,874
Occupancy expense		114,691		118,839		105,248
Equipment expense		94,948		99,274		89,649
Data processing costs		125,077		84,616		93,601
Ohio state franchise tax		82,500		82,500		75,000
Other expense		444,989		506,563		399,007
Total non-interest expense		1,803,558		1,682,607		1,592,379
Income before income taxes		1,151,791		1,250,518		948,187
Income taxes		330,000		342,000		246,000
Net income	$	821,791	$	908,518	$	702,187
NET INCOME PER COMMON SHARE:
Basic	$	0.67	$	0.74	$	0.58
Diluted	$	0.66	$	0.74	$	0.57

Middlefield Banc Corp.
Consolidated Statements of Income
Year-to-Date Data
(Unaudited)

	September 2004		June 2004		September 2003
INTEREST INCOME
Interest and fees on loans	$	10,115,762	$	6,683,609	$	9,609,355
Interest bearing deposits in other institutions		3,539		2,001		15,670
Investment securities:
Taxable		1,050,915		696,523		855,382
Tax-exempt interest		429,556		262,911		354,595
Federal funds sold		28,046		17,162		40,049
Dividends on FHLB stock		38,883		25,919		38,843
Total interest income		11,666,701		7,688,125		10,913,894
INTEREST EXPENSE
Deposits		3,642,941		2,396,324		3,709,505
Short-term borrowings		1,143		839		3,704
Other borrowings		607,419		397,869		618,575
Total interest expense		4,251,503		2,795,032		4,331,784
Net interest income		7,415,198		4,893,093		6,582,110
Provision for loan losses		111,000		60,000		315,000
Net interest income after provision for loan losses		7,304,198		4,833,093		6,267,110
NON-INTEREST INCOME
Service charges on deposit accounts		1,034,095		662,600		760,318
Security gains (losses)		0		0		542
Earnings on bank-owned life insurance		167,970		114,856		135,305
Other operating income		164,787		105,152		113,879
Total non-interest income		1,366,852		882,608		1,010,044
NON-INTEREST EXPENSE
Salaries and employee benefits		2,652,971		1,711,618		2,287,264
Net occupancy		378,011		263,320		310,292
Equipment		288,208		193,260		227,261
Data processing costs		339,038		213,961		281,031
Ohio state franchise tax		247,500		165,000		225,050
Other expense		1,361,755		916,766		1,185,447
Total non-interest expense		5,267,483		3,463,925		4,516,345
Income before federal income taxes		3,403,567		2,251,776		2,760,809
Income tax expense		988,000		658,000		790,928
Net income	$	2,415,567	$	1,593,776	$	1,969,881
NET INCOME PER COMMON SHARE:
Basic	$	1.97	$	1.30	$	1.62
Diluted	$	1.95	$	1.29	$	1.61

Middlefield Banc Corp.
Consolidated Balance Sheets
(Unaudited)

	September 2004			June 2004			September 2003
ASSETS
Cash and due from banks	$	7,324,873		$	4,900,236		$	4,216,941
Federal funds sold and interest-bearing deposits in other institutions		4,032,575			4,221,065			2,967,618
Securities:
Available for sale		55,278,450			54,901,165			49,911,627
Held to maturity		562,011			747,567			2,764,706
Total securities		55,840,461			55,648,732			52,676,333
Loans:		209,257,288			203,103,305			188,947,859
Less: Allowance for loan losses		2,626,548			2,595,791			2,605,767
Net loans		206,630,740			200,507,514			186,342,092
Premises and equipment		6,668,043			6,704,260			6,913,457
Bank-owned life insurance		5,370,355			5,317,241			5,135,305
Accrued interest and other assets		3,347,091			3,180,845			2,716,344
Total assets	$	289,214,138		$	280,479,893		$	260,968,090
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits:
Demand — non-interest bearing	$	35,110,530		$	34,973,397		$	29,986,047
Demand — interest bearing		23,595,367			22,299,891			22,749,710
Savings		75,110,539			75,001,599			64,722,200
Time deposits		104,922,655			103,763,401			101,612,252
Total deposits		238,739,091			236,038,288			219,070,209
Short-term borrowings		102,881			115,102			399,176
Other borrowings		23,957,754			19,077,999			17,863,260
Accrued interest and other liabilities		905,016			932,556			655,461
Total liabilities		263,704,742			256,163,945			237,988,106
Stockholders’ equity:
Common stock, no par value; 5,000,000 shares authorized		10,385,960			10,286,211			8,134,763
Retained earnings		16,715,668			16,164,824			16,315,403
Accumulated other comprehensive income (loss)		152,677			(390,178	)		274,727
Treasury stock		(1,744,909	)		(1,744,909	)		(1,744,909	)
Total stockholders’ equity		25,509,396			24,315,948			22,979,984
Total liabilities and stockholders’ equity	$	289,214,138		$	280,479,893		$	260,968,090
Miscellaneous data:
Common shares issued		1,289,602			1,286,792			1,278,390
Treasury shares		55,309			55,309			55,309