XML 28 R17.htm IDEA: XBRL DOCUMENT

Note 9 - Stock Split Disclosure

9 Months Ended

Sep. 30, 2020

NOTE 9 – STOCK SPLIT DISCLOSURE

On October 9, 2019, the Board of Directors of Middlefield Banc Corp. authorized a two-for-one stock split. Each shareholder of record at the close of business on October 25, 2019, received one additional share for every outstanding share held on the record date. The additional shares were paid on November 8, 2019. As a result, all share and earnings per share information have been retroactively adjusted to reflect the stock split.

With respect to the September 30, 2020 and 2019 financial statements, the effect of the stock split on September 30, 2019 amounts was recognized retroactively in the stockholders’ equity accounts in the Consolidated Balance Sheets, and in all share data in the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations. The effect of the stock split on per share amounts and weighted average common shares outstanding for the three and nine months ended September 30, 2019 is as follows:

	For the three months ended		For the nine months ended
	September 30, 2019		September 30, 2019
Restated net income per common share - basic	$	0.51	$	1.48
Restated net income per common share - diluted	$	0.50	$	1.47
Restated weighted-average common shares issued		7,294,014		7,283,808
Restated average treasury stock shares		835,756		797,606
Restated average shares outstanding - basic		6,458,258		6,486,202
Restated stock options and restricted stock		20,808		20,636
Restated average shares outstanding - diluted		6,479,066		6,506,838
Restated period ending shares outstanding		6,423,130		6,423,130
Restated treasury shares outstanding		871,162		871,162