XML 31 R18.htm IDEA: XBRL DOCUMENT v3.25.2
Note 10 - Segment Reporting
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

NOTE 10 - 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 three and six months ended June 30, 2025, and 2024. The accounting policies of the segment are the same as those followed by the Company. 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. 

 

  

For the Three Months Ended June 30,

 
  

2025

  

2024

 
      

Reconciling

          

Reconciling

     

(Dollar amounts in thousands)

 

Bank

  

Items

  

Total

  

Bank

  

Items

  

Total

 
                         

Net interest income

 $17,547  $(110) $17,437  $15,230  $(147) $15,083 

Noninterest income

  3,076   2   3,078   1,776   (16)  1,760 

Total revenue

  20,623   (108)  20,515   17,006   (163)  16,843 

Provision for (recovery of) credit losses

  (506)  -   (506)  87   -   87 

Salaries and employee benefits

  6,237   497   6,734   5,979   132   6,111 

Occupancy expenses

  667   -   667   601   -   601 

Data processing costs

  1,273   -   1,273   1,168   -   1,168 

Other noninterest expense (1)

  4,244   733   4,977   3,219   803   4,022 

Income tax provision (benefit)

  1,495   (282)  1,213   920   (230)  690 

Net income (loss)

 $7,213  $(1,056) $6,157  $5,032  $(868) $4,164 

Total assets

 $1,922,424  $1,945  $1,924,369  $1,824,905  $3,281  $1,828,186 

 

  

For the Six Months Ended June 30,

 
  

2025

  

2024

 
      

Reconciling

          

Reconciling

     

(Dollar amounts in thousands)

 

Bank

  

Items

  

Total

  

Bank

  

Items

  

Total

 
                         

Net interest income

 $33,762  $(227) $33,535  $30,355  $(303) $30,052 

Noninterest income

  5,046   (24)  5,022   3,613   (57)  3,556 

Total revenue

  38,808   (251)  38,557   33,968   (360)  33,608 

Provision for (recovery of) credit losses

  (411)  -   (411)  (49)  -   (49)

Salaries and employee benefits

  12,304   987   13,291   11,993   451   12,444 

Occupancy expenses

  1,354   -   1,354   1,153   -   1,153 

Data processing costs

  2,544   -   2,544   2,417   -   2,417 

Other noninterest expense (1)

  7,435   1,220   8,655   6,391   1,462   7,853 

Income tax provision (benefit)

  2,654   (517)  2,137   1,936   (477)  1,459 

Net income (loss)

 $12,928  $(1,941) $10,987  $10,127  $(1,796) $8,331 

Total assets

 $1,922,424  $1,945  $1,924,369  $1,824,905  $3,281  $1,828,186 

 

(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.