Middlefield Banc Corp. Reports Net Income of $4.9 Million for the First Quarter of 2023

Middlefield Banc Corp.(MBCN) has released its unaudited consolidated financial statements for the first quarter of 2023, showcasing a positive financial performance. The bank reported net income of $4.9 million during the three months ended March 31, 2023. Additionally, the bank generated $20.3 million in revenue during the same period. Let's take a closer look at the financial data provided in the consolidated balance sheet and statement of income to understand the key factors contributing to Middlefield Banc Corp.'s performance.

Net Income

During the first quarter of 2023, Middlefield Banc Corp. recorded a net income of $4.9 million. This figure reflects the bank's earnings after accounting for all expenses, interest income, and tax liabilities. Compared to the same period in the previous year, the bank's net income showed growth, indicating improved financial stability and profitability.

Revenue