Friday, November 17, 2006

Emerald Bank Being Purchased

A northeastern Ohio bank, Middlefield Banc Corp., has announced it will purchase Emerald Bank in Dublin, Ohio for about $7.3 million. Emerald Bank, founded in late 2004, has made great inroads in its short tenure as a highly competitive lender for commercial and investment properties throughout the Buckeye State. Middlefield Banc Corp., the parent company of Middlefield Banking Co., has $325 million in assets and five bank offices between Cleveland and Youngstown. Emerald Bank has $39 million in assets and operates one office in Dublin. The deal is expected to close in the second quarter of 2007, pending regulatory approval.

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