Middlefield Banc jumps on $299 million buyout deal with Farmers National

Middlefield Banc

22/10/2025 14:25

** Shares of community lender Middlefield Banc MBCN.O jump 17% to $33.54 premarket

** Larger rival Farmers National FMNB.O will buy MBCN in a $299 million all-stock deal, the banks announced on Wednesday

** MBCN shareholders will receive 2.6 shares of FMNB for each share held, valuing at Middlefield $36.17 per share

** Deal represents 26.4% premium to stock's last close

** "We know Middlefield and its markets well, and this partnership not only deepens our presence in Northeast Ohio but meaningfully expands our footprint across Central and Western Ohio markets" - Farmers CEO Kevin Helmick

** As of last close, MBCN up 2% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))