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Note 9 - Business Acquisition (Tables)

3 Months Ended

Mar. 31, 2017

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

(In Thousands, Except Per Share Data)
Purchase Price Consideration in Common Stock
Middlefield Banc Corp shares issued			544,610
Value assigned to Middlefield Banc Corp common share		$	38.55
Purchase price assigned to Liberty Bank common shares exchanged for Middlefield Banc Corp shares							20,995
Purchase Price Consideration in Cash
Purchase price assigned to Liberty Bank common shares exchanged for cash							21,173
Total Purchase Price							42,168
Previously held equity interest in Liberty Bank							(1,068	)
Net Assets Acquired:
Liberty Bank shareholders equity		$	30,097
Adjustments to reflect assets acquired at fair value:
Loans
Allowance for loan loss			3,257
Core deposit intangible			3,087
Loans - interest rate			578
Loans - general credit			(2,161	)
Deferred tax asset			(1,104	)
Other			254
Adjustments to reflect liabilities acquired at fair value:
Time deposits			(141	)
Change in control			(1,718	)
							32,149
Goodwill resulting from merger						$	11,087

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

(In Thousands)
Total purchase price						$	42,168
Assets (liabilities) acquired:
Net assets acquired:
Cash			26,604
Loans			200,273
Premises and equipment, net			325
Accrued interest receivable			440
Bank-owned life insurance			1,681
Core deposit intangible			3,087
Deferred tax asset			(1,104	)
Other assets			997
Time deposits			(30,744	)
Non-time deposits			(167,300	)
Accrued interest payable			(47	)
Other liabilities			(3,131	)
							31,081
Goodwill resulting from the Liberty Bank merger						$	11,087

Business Acquisition, Pro Forma Information [Table Text Block]

		Actual From Acquisition Date
		Through March 31, 2017
		(in thousands)
Net interest income		$	2,735
Noninterest income			291
Net income		$	98

		Pro Formas
		Three-month period ended March 31,
		2017				2016
		(in thousands, except per share data)
Net interest income		$	9,055			$	8,330
Noninterest income			1,572				1,157
Net income		$	1,083			$	1,822
Pro forma earnings per share:
Basic		$	0.40			$	0.97
Diluted		$	0.40			$	0.97

Merger of Liberty Bank, N.A. into The Middlefield Banking Company [Member]

Notes Tables

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Remaining	2017			280
	2018			348
	2019			341
	2020			332
	2021			321
	2022			309
	2023			296
	2024			281
	2025			264
	2026			253
				3,025

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

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-Name Accounting Standards Codification
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-Section 50
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