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Note 19 - Segment Reporting
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

19.

SEGMENT REPORTING

 

The Company has one business segment: Bank Segment.  The Bank Segment provides customers with a broad range of banking services, including various deposit and lending products to consumer and commercial customers.  The Company’s chief operating decision maker (CODM) is the Chief Executive Officer.

 

The following table shows selected financial data for the Bank Segment for the years ended December 31, 2024 and 2023.  The accounting policies of the segment are the same as those described in Note 1 – Summary of Significant Accounting Policies. The information is derived from the internal financial reporting records that are used to monitor and manage the Company's financial performance.  The segment expense categories are based on the information regularly provided to the CODM and are considered significant to the segment’s operations.  The Bank Segment excludes the income, expenses, and total assets of the parent company, Middlefield Banc Corp, and the parent company’s nonbank asset resolution subsidiary, EMORECO, Inc., which are shown as reconciling items in the following table.  There is no authoritative guidance for management accounting equivalent to GAAP, and therefore, the financial results of our business segment are not necessarily comparable with similar information presented by other companies. 

 

  

2024

  

2023

 
      

Reconciling

          

Reconciling

     

(Dollar amounts in thousands)

 

Bank

  

Items

  

Total

  

Bank

  

Items

  

Total

 
                         

Net interest income

 $61,275  $(595) $60,680  $65,805  $(602) $65,203 

Noninterest income

  7,253   (40)  7,213   6,793   (102)  6,691 

Total revenue

  68,528   (635)  67,893   72,598   (704)  71,894 

Provision for credit losses

  2,008   -   2,008   3,002   -   3,002 

Salaries and employee benefits

  23,567   1,074   24,641   23,760   751   24,511 

Occupancy expenses

  2,376   -   2,376   2,566   -   2,566 

Data processing costs

  4,740   -   4,740   4,588   -   4,588 

Other noninterest expense (1)

  12,955   2,829   15,784   13,863   2,609   16,472 

Income tax provision (benefit)

  3,778   (953)  2,825   4,241   (854)  3,387 

Net income

 $19,104  $(3,585) $15,519  $20,578  $(3,210) $17,368 

Total assets

 $1,851,688  $1,671  $1,853,359  $1,820,224  $2,659  $1,822,883 

 

(1)Includes expenses that are in the reported measure of net income but not specifically provided to the CODM. Other noninterest expense is composed of expenses such as equipment expense, Ohio state franchise tax, professional fees, advertising expense, and other expenses.

 

The CODM utilizes net income as the primary measure to allocate resources during the annual budget process.  This measure is used by CODM to evaluate the performance of the business segment, with a focus on net interest income, provision for credit losses, noninterest income, and noninterest expense.  Net income is compared to both budgeted and comparative historical amounts on a monthly basis. Drivers of any significant variations from budget are assessed.  The measure of segment assets is reported as total assets.