Posted: 06/01/2025 07:40 am
Middlefield Banc Corp. (NASDAQ: MBCN), operating within the state commercial banks industry, has made headlines recently with key compensation details of its executives and notable company developments. Compensation structures at the company reflect strategies to incentivize and reward leadership. The company's compensation data for 2024 reveals that Michael L. Cheravitch received a total compensation of $480,102, which included a salary of $230,000, a bonus of $25,000, and stock awards valued at $146,206, among other components^1. In 2022, James R. Heslop II, who became CEO on December 1, received a total compensation of $682,064, with a notable bonus of $75,000, positioning him prominently amongst the leadership team^2. Meanwhile, during the same period, the President from December 1, 2022, Ronald L. Zimmerly, Jr., was awarded a total compensation of $358,688, which was largely comprised of a substantial stock award of $325,000^3. This strategic focus on stock awards aligns with incentivizing long-term value creation and aligning the interests of executives with shareholders.
On the financial front, Middlefield Banc Corp. demonstrated confidence in its sustained growth by announcing a 5% increase in its first-quarter 2025 cash dividend, raising it to $0.21 per common share, a move supported by its improved financial performance in 2024^4. The corporation also announced its second-quarter cash dividend of the same amount, reflecting steady financial payout commitments despite market fluctuations^5.
The stock's performance has recently seen positive momentum, with a focus on earnings and positive financial outlooks. Zacks Investment Research recently upgraded MBCN to a "Strong Buy," fueled by its optimistic earnings potential^6. The company's stock price, currently at $29.35, reflects a minor dip from its previous close, attributed in part to typical market fluctuations. However, with a price-earnings ratio of 14.6 and a year-high of $34, the stock still garners investor interest as it capitalizes on strong earnings estimates and investor confidence^7.
Further enhancing shareholder value, the company also recently announced the retirement of Darryl E. Mast from the Board of Directors, as part of its ongoing efforts to adapt and innovate within its governance structure^8. This transition marks a new phase for the company's leadership, indicating potential shifts in strategic direction.
As Middlefield Banc Corp. navigates the complexities of the banking industry, the combination of executive compensation strategies, consistent dividend payouts, and a positive market outlook underscores the company’s commitment to sustainable growth and shareholder value.
:
1. SEC. "Middlefield Banc Corp. 2024 Compensation Data." Retrieved from [SEC.gov](https://www.sec.gov/Archives/edgar/data/836147/000117494725000521/0001174947-25-000521-index.htm).
2. SEC. "Middlefield Banc Corp. 2022 Compensation Data for James R. Heslop, II." Retrieved from [SEC.gov](https://www.sec.gov/Archives/edgar/data/836147/000117494724000518/0001174947-24-000518-index.htm).
3. SEC. "Middlefield Banc Corp. 2022 Compensation Data for Ronald L. Zimmerly, Jr." Retrieved from [SEC.gov](https://www.sec.gov/Archives/edgar/data/836147/000119312523090602/0001193125-23-090602-index.htm).
4. GlobeNewswire. "Middlefield Banc Corp. Announces a 5% Increase in the 2025 First-Quarter Cash Dividend Payment." Retrieved from [GlobeNewswire](https://www.globenewswire.com/news-release/2025/02/10/3086561/0/en/MIDDLEFIELD-BANC-CORP-ANNOUNCES-A-5-INCREASE-IN-THE-2025-FIRST-QUARTER-CASH-DIVIDEND-PAYMENT.html).
5. GlobeNewswire. "Middlefield Banc Corp. Announces 2025 Second-Quarter Cash Dividend Payment." Retrieved from [GlobeNewswire](https://www.globenewswire.com/news-release/2025/05/12/3079564/0/en/Middlefield-Banc-Corp-Announces-2025-Second-Quarter-Cash-Dividend-Payment.html).
6. Zacks. "Middlefield Banc (MBCN) Upgraded to Strong Buy: Here's Why." Retrieved from [Zacks](https://www.zacks.com/stock/news/2458191/middlefield-banc-mbcn-upgraded-to-strong-buy-here-s-why?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape%7Cyseop_template_12_zacks_rank_upgrade-2458191).
7. Market Data. "Middlefield Banc Corp. (MBCN) Snapshot." Retrieved from NASDAQ.
8. GlobeNewswire. "Middlefield Banc Corp. Announces Retirement of Darryl E. Mast from Board of Directors." Retrieved from [GlobeNewswire](https://www.globenewswire.com/news-release/2025/05/22/3086561/0/en/Middlefield-Banc-Corp-Announces-Retirement-of-Darryl-E-Mast-from-Board-of-Directors.html).
