Jay P. Giles Announces Retirement
The Middlefield Banking Company (NASDAQ: MBCN) board of directors today
announced that Eric P. Hollinger, current senior vice president of
commercial lending, will become the Bank’s senior lender. In this
position, Mr. Hollinger will be responsible for the profitable growth of
all segments of the Bank’s loan portfolio.
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Eric P. Hollinger
He will succeed Jay P. Giles, who has informed the board of his
intention to retire. Mr. Giles has served The Middlefield Banking
Company since September, 1998. His career has included 44 years of
community-focused banking service.
President and CEO Thomas G. Caldwell said that the succession provides
continuity of leadership and leverages the extensive experience of Eric
Hollinger in leading all lending units of the Bank. Mr. Caldwell said,
"Eric is the ideal choice, and the Bank is well-positioned for future
growth with a diverse and dynamic consumer and commercial business."
“The promotion of Eric Hollinger reflects our commitment to developing
and expanding client centric relationships,” stated Mr. Caldwell, “Eric
is highly regarded as a key advisor by entrepreneurs and leaders in the
local business community. He also provides us with strong knowledge of
both of our distinct markets.”
In accepting the position, Mr. Hollinger stated, “I am honored to become
an integral part of the senior management team of such an outstanding
company that is well positioned for growth, with dedicated employees who
are committed to meeting our customers' needs every day. I look forward
to leading the Middlefield Bank lending team at a time of great
opportunity, as we address shifting customer preferences and deliver new
solutions.”
Mr. Caldwell also said, "We thank Jay for all he has done for The
Middlefield Banking Company during his tenure, particularly in
navigating the financial crisis. During Jay’s tenure as Senior Lender,
the Bank has established strong forward momentum with a solid balance
sheet and credit quality, plus excellent growth prospects."
Mr. Hollinger, with over 30 years of banking and sales-related
experience, joined The Middlefield Banking Company in June, 2013. A
native of Worthington, Ohio, he holds an MBA from the Weatherhead School
of Management at Case Western Reserve University. He completed his
undergraduate degree in Marketing and International Business at Bowling
Green State University. A resident of Chardon, Ohio, Mr. Hollinger and
his wife, Kim, are the parents of three adult children.
The Middlefield Banking Company is an operating subsidiary of
Middlefield Banc Corp. (NASDAQ: MBCN). Headquartered in Middlefield,
Ohio, Middlefield Banc Corp. has assets in excess of $705.5 million. The
bank operates full service banking centers and an LPL Financial®
brokerage office serving Chardon, Cortland, Dublin, Garrettsville,
Mantua, Middlefield, Newbury, Orwell, and Westerville, Ohio. Additional
information is available at www.middlefieldbank.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.
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