Community Bankers Trust Corporation Reports Fourth Quarter and Annual Results for 2012

Community Bankers Trust Corporation Reports Fourth Quarter and Annual Results
                                   for 2012

PR Newswire

GLEN ALLEN, Va., Jan. 30, 2013

GLEN ALLEN, Va., Jan. 30, 2013 /PRNewswire/ --Community Bankers Trust
Corporation (the "Company") (NYSE MKT: BTC), the holding company for Essex
Bank (the "Bank"), today reported results for the fourth quarter of 2012 and
the year ended December 31, 2012, including the following:

(Logo: http://photos.prnewswire.com/prnh/20120727/PH46884LOGO )

  oNet income for the fourth quarter of 2012 was $1.6 million compared with
    net income of $695,000 for the fourth quarter of 2011.
  oNet income for the year ended December 31, 2012 was $5.6 million compared
    with net income of $1.4 million for the year ended December 31, 2011.
  oEarnings per common share, fully diluted, were $0.06 in the fourth quarter
    of 2012 and were $0.21 for the full year 2012. This compares with $0.02
    for the fourth quarter of 2011 and $0.02 for the year ended December 31,
    2011, respectively.
  oNoninterest income increased by $2.5 million, or 50.9%, for the year ended
    December 31, 2012 compared with the year ended December 31, 2011.
  oNoninterest expense decreased by $3.2 million, or 8.9%, for the year ended
    December 31, 2012 compared with the year ended December 31, 2011.
  oIn December, the Federal Reserve Bank of Richmond and the Bureau of
    Financial Institutions of the Virginia State Corporation Commission
    terminated their written agreement with the Company and the Bank.
  oIn August, the Company received regulatory approvals to pay its TARP
    dividend payment due in August, and paid, all five of its then remaining
    deferred TARP dividend payments and its current interest payment due on
    its trust preferred securities. The total amount of the payments was $1.4
    million, plus interest that had accrued. The Company is current on its
    dividend and interest obligations.

Loan information, excluding loans covered by FDIC shared-loss agreements:

  oGross loans increased $30.8 million, or 5.7%, for the year ended December
    31, 2012 and $16.0 million, or 2.9%, for the fourth quarter of 2012.
  oNet charged-off loans decreased $8.8 million, or 72.4%, for the year ended
    December 31, 2012 and were $3.4 million, compared with $12.2 million for
    the year ended December 31, 2011.
  oNonaccrual loans decreased $7.5 million, or 26.3%, for the year ended
    December 31, 2012 and $4.7 million, or 18.2%, for the fourth quarter of
    2012.
  oTotal nonperforming assets declined $8.4 million, or 20.7%, for the year
    ended December 31, 2012 and $5.4 million, or 14.2%, for the fourth quarter
    of 2012.
  oThe ratio of the allowance for loan losses to nonaccrual loans was 61.4%
    at December 31, 2012 compared with 52.0% at December 31, 2011.

Rex L. Smith, III, President and Chief Executive Officer of the Company and
the Bank, stated, "The fourth quarter results show the continued success of
our business strategy and finalized a year of prominent accomplishments for
the Company. Our goals for 2012 were to aggressively manage nonperforming
assets, to continue to improve our core earnings, to pay all of the previously
deferred TARP dividend payments and, if possible, to be released from the
written agreement. Nonperforming assets decreased almost 21% during
2012despite a continued sluggish economy. Earnings increased significantly
year over year, driven by an increase in noninterest income and a significant
decrease in noninterest expense. Because of the increase in net income, we
were able to become current on all of our deferred TARP payments in the third
quarter. Finally, we were completely released from our written agreement in
December. The result of these efforts is reflected in our stock price, which
improved 130% year over year."

Smith continued, "While these goals were quite meaningful, we have set our
sights on new and aggressive goals for 2013. We were able to grow our loan
portfolio significantly in the fourth quarter and I believe that momentum will
continue. In addition, we will strive to have our nonperforming assets at or
below the levels of our peers by the end of the year. Lastly, we are working
with the U.S. Treasury and our primary regulators on TARP principal repayment
strategies that are non-dilutive to our shareholders. I am excited by what
our team accomplished in 2012, but I am also positive that it was just the
beginning of our goal to add significant value for our shareholders."

RESULTS OF OPERATIONS

Net income was $1.6 million for the fourth quarter of 2012. This compares with
net income of $695,000 in the fourth quarter of 2011 and net income of $1.8
million in the third quarter of 2012. Net income available to common
stockholders was $1.3 million in the fourth quarter of 2012 compared with net
income available to common stockholders of $423,000 in the fourth quarter of
2011 and net income available to common stockholders of $1.5 million in the
third quarter of 2012. For the year ended December 31, 2012, net income was
$5.6 million and net income available to common stockholders was $4.5 million,
compared with net income of $1.4 million and net income available to common
stockholders of $354,000 for the year ended December 31, 2011.

Net income available to common stockholders was $4.5 million, or $0.21 per
common share on a diluted basis, for the year ended December 31, 2012 compared
with net income available to common stockholders of $354,000, or $0.02 per
common share on a diluted basis, for the year ended December 31, 2011. The
increase of $4.1 million in net income available to common stockholders was
driven by a decrease in noninterest expense of $3.2 million, or 8.9%, an
increase in noninterest income of $2.5 million, or 50.9%, a reduction in
provision for loan losses of $298,000 and an increase in net interest income
of $220,000. This was offset by an increase in income tax expense of $2.1
million.

Net income available to common stockholders was $1.3 million, or $0.06 per
common share on a diluted basis, for the quarter ended December 31, 2012
compared with net income available to common stockholders of $423,000, or
$0.02 per common share on a diluted basis, for the quarter ended December 31,
2011. The increase in net income available to common stockholders of
$874,000, or 206.6%, was driven by a reduction in noninterest expenses of $1.1
million and an increase in noninterest income of $631,000. This was offset by
an increase in provision for loan losses of $450,000, a reduction in net
interest income of $148,000 and an increase in income tax expense of $209,000.

The following table presents summary income statements for the three months
ended December 31, 2012, September 30, 2012 and December 31, 2011 and the
years ended December 31, 2012 and December 31, 2011.



SUMMARY INCOME STATEMENT
(Dollars in thousands)       For the three months ended     For the year ended
                             December  September  December  December  December
                             31,       30,        31,       31,       31,
                             2012      2012       2011      2012      2011
Interest income              $ 12,919  $ 12,872   $ 13,877  $ 53,719  $ 56,035
Interest expense             2,054     2,339      2,864     9,692     12,228
Net interest income          10,865    10,533     11,013    44,027    43,807
Provision for loan losses    450       -          -         1,200     1,498
Net interest income after
provision
for loan losses              10,415    10,533     11,013    42,827    42,309
Noninterest income           (821)     152        (1,452)   (2,430)   (4,951)
Noninterest expense          7,573     8,039      8,627     32,667    35,854
Net income before income     2,021     2,646      934       7,730     1,504
taxes
Income tax expense           (448)     (837)      (239)     (2,148)   (60)
Net income                   1,573     1,809      695       5,582     1,444
Dividends on preferred stock 221       221        221       884       884
Accretion of preferred stock 55        55         51        220       206
discount
Net income per share
available
to common stockholders       $ 1,297   $ 1,533    $ 423     $ 4,478   $ 354
EPS Basic                    $ 0.06    $ 0.07     $ 0.02    $ 0.21    $ 0.02
EPS Diluted                  $ 0.06    $ 0.07     $ 0.02    $ 0.21    $ 0.02

Interest Income

Interest income was $12.9 million for the fourth quarter of 2012, an increase
of $47,000, from the third quarter of 2012. Interest income on securities
increased $101,000 on this linked quarter basis, which was partially offset by
a $60,000 decline in interest and fees on loans.

Year over year, interest income declined $958,000, or 6.9%, when comparing the
fourth quarters of 2012 and 2011. Interest income was $13.9 million in the
fourth quarter of 2011 and declined to $12.9 million in the fourth quarter of
2012. Interest and fees on FDIC covered loans declined $1.4 million when
comparing the fourth quarter of 2012 to the fourth quarter of 2011. This was
due to a decrease of $11.9 million on the average balance of FDIC covered
loans when comparing the fourth quarter of 2012 to the same period in 2011.
Partially offsetting this decrease was improved interest and fees on loans,
which increased $291,000, from $7.4 million in the fourth quarter of 2011 to
$7.7 million in the fourth quarter of 2012. This was the result of an
increase of $43.7 million, or 8.4%, in the average balance of non-covered
loans from the fourth quarter of 2011 to the fourth quarter of 2012.

Interest income was $53.7 million for the year ended December 31, 2012, a
decrease of $2.3 million from interest income of $56.0 million for the year
ended December 31, 2011. Interest and fees on FDIC covered loans declined
$3.5 million, from $17.6 million for the year ended December 31, 2011 to $14.1
million for the year ended December 31, 2012. Additionally, securities income
declined $219,000, from $9.1 million for the year ended December 31, 2011 to
$8.9 million for the year ended December 31, 2012. The tax-equivalent yield on
investment securities declined from 3.28% for the year ended December 31, 2011
to 3.02% for the year ended December 31, 2012 as management repositioned a
large portion of the portfolio into variable rate securities. Offsetting
these decreases was an increase of $1.4 million in interest and fees on loans,
from $29.3 million for the year ended December 31, 2011 to $30.7 million for
the year ended December 31, 2012. The average balance of non-covered loans
increased $45.2 million, or 8.8%, and was $556.1 million for the year ended
December 31, 2012 compared with $510.9 million for the same period in 2011.
The yield on the average balance of non-covered loans declined from 5.73%
for the year ended December 31, 2011 to 5.51% for the year ended December 31,
2012.

Interest Expense

Interest expense was $2.1 million for the fourth quarter of 2012 compared with
interest expense of $2.3 million in the third quarter of 2012. Average
interest bearing liabilities increased $12.3 million, or 1.3%, during the
quarter. However, the cost of interest bearing liabilities declined from
1.02% in the third quarter of 2012 to 0.88% in the fourth quarter of 2012.
This resulted in a decrease of $285,000, or 12.2%, in the cost of interest
bearing liabilities on a linked quarter basis. The continued decline in
interest expense is the result of higher than projected demand deposit
balances, which has allowed management to reprice both certificate of deposit
maturities at lower rates and the renewal of $22.0 million in maturing FHLB
advances at lower rates.

Year over year, interest expense declined $810,000, from $2.9 million in the
fourth quarter of 2011 to $2.1 million in the fourth quarter of 2012. This
28.3% expense decline resulted from decreases in cost. The cost of interest
bearing liabilities declined from 1.27% in the fourth quarter of 2011 to 0.88%
in the fourth quarter of 2012. The cost of deposits declined similarly from
1.17% in the fourth quarter of 2011 to 0.85% for the fourth quarter of 2012.
The cost of Federal Home Loan Bank (FHLB) and other borrowings also exhibited
improvement, from 3.51% in the fourth quarter of 2011 to 1.39% in the fourth
quarter of 2012. As a result of the opportunity to obtain these borrowings at
lower rates, the Company increased the average balance of FHLB borrowings by
$14.1 million during the year and the balance of FHLB borrowings at December
31, 2012 was $49.8 million.

Interest expense declined $2.5 million from $12.2 million for the year ended
December 31, 2011 to $9.7 million for the year ended December 31, 2012. This
decline of 20.7% was driven by a reduction in the cost of interest bearing
liabilities from 1.36% for the year ended December 31, 2011 to 1.06% for the
year ended December 31, 2012.

Net Interest Income

Net interest income was $10.9 million for the quarter ended December 31, 2012,
compared with $10.5 million for the quarter ended September 30, 2012.This
represents an increase of $332,000, or 3.2%. On a tax equivalent basis, net
interest income was $10.9 million for the fourth quarter of 2012 compared with
tax equivalent net interest income of $10.6 million for the third quarter of
2012. The tax equivalent net interest margin increased from 4.32% in the
third quarter of 2012 to 4.39% in the fourth quarter of 2012. This was due to
an increase in net interest spread, from 4.25% to 4.34%, on a linked quarter
basis.

Year over year, net interest income decreased $148,000, or 1.3%, from $11.0
million in the fourth quarter of 2011 to $10.9 million in the fourth quarter
of 2012. This was primarily the result of a decrease in the Company's
interest spread, from 4.63% in the fourth quarter of 2011 to 4.34% in the
fourth quarter of 2012. This decreased the Company's net interest margin from
4.69% in the fourth quarter of 2011 to 4.39% for the same period in 2012.

Net interest income was $44.0 million for the year ended December 31, 2012,
compared with $43.8 million for the year ended December 31, 2011.This
represents an increase in net interest income for 2012 of $220,000. A decline
of $2.3 million in the yield on earning assets was virtually offset by a
decline of $2.5 million in the cost of interest bearing liabilities, which
resulted in the increase of 0.5% in net interest income. The tax equivalent
net interest margin decreased from 4.72% for the year ended December 31, 2011
to 4.53% for the year ended December 31, 2012. This was driven by a decrease
in interest spread from 4.66% in 2011 to 4.46% in 2012. Interest spread is
the product of yield on earning assets less cost of total interest-bearing
liabilities.

The following tables compare the Company's net interest margin, on a
tax-equivalent basis, for the three months ended December 31, 2012, September
30, 2012 and December 31, 2011 and for the years ended December 31, 2012 and
December 31, 2011.



NET INTEREST MARGIN
(Dollars in thousands)             For the three months ended
                                   December      September    December
                                   31,           30,          31,
                                   2012           2012          2011
Average interest earning assets    $ 996,023     $ 981,090    $ 947,751
Interest income                    $  12,919    $  12,872   $  13,877
Interest income - tax equivalent   $  12,988    $  12,932   $  13,968
Yield on interest earning assets   5.22%          5.27%         5.90%
Average interest bearing           $ 927,856     $ 915,514    $ 900,610
liabilities
Interest expense                   $    2,054  $   2,339  $    2,864
Cost of interest bearing           0.88%          1.02%         1.27%
liabilities
Net interest income                $  10,865    $  10,533   $  11,013
Net interest income - tax          $  10,934    $  10,593   $  11,104
equivalent
Interest spread                    4.34%          4.25%         4.63%
Net interest margin                4.39%          4.32%         4.69%



                                     For the year ended
                                     December     December
                                     31,         31,
                                     2012          2011
Average interest earning assets      $ 977,066     $ 938,867
Interest income                      $  53,719    $  56,035
Interest income - tax equivalent     $  53,971    $  56,563
Yield on interest earning assets     5.52%         6.02%
Average interest bearing liabilities $ 916,038     $ 901,203
Interest expense                     $   9,692  $  12,228
Cost of interest bearing liabilities 1.06%         1.36%
Net interest income                  $  44,027    $  43,807
Net interest income - tax equivalent $  44,279    $  44,335
Interest spread                      4.46%         4.66%
Net interest margin                  4.53%         4.72%

Provision for Loan Losses

The provision for loan losses was $450,000 for the quarter ended December 31,
2012 compared with no provision for the quarters ended September 30, 2012 and
December 31, 2011. The provision for loan losses was $1.2 million for the
year ended December 31, 2012 compared with $1.5 million for the year ended
December 31, 2011.

The Company records a separate provision for loan losses for its non-covered
loan portfolio and its FDIC covered loan portfolio. Only the non-covered
portfolio had a provision for the fourth quarter of 2012. The provision for
loan losses on non-covered loans was $1.5 million for the year ended December
31, 2012 compared with $1.5 million for the year ended December 31, 2011. The
provision for loan losses on covered loans was a $250,000 credit for the year
ended December 31, 2012, which was the result of improvement in expected
losses on the Company's FDIC covered portfolio, which the Company recognized
in the first quarter of the year. There was no provision for the covered loan
portfolio for the year ended December 31, 2011.

Noninterest Income

Noninterest income was negative $821,000 for the fourth quarter of 2012
compared with $152,000 for the third quarter of 2012. The largest component
of noninterest income was FDIC indemnification asset amortization, which
reduces noninterest income, and was $1.5 million in the fourth quarter of 2012
and $1.6 million in the third quarter of 2012. Amortization of the FDIC
indemnification asset is the result of better than expected performance on the
covered loan portfolio. This better than expected performance also results in
increased accretable yield and interest income on the covered portfolio. Loss
on other real estate owned (OREO) was $660,000 in the fourth quarter of 2012
and $767,000 in the third quarter of 2012. Management proactively assesses
OREO and as a result wrote down values by $477,000 in the third quarter of
2012 and $626,000 in the fourth quarter of 2012.

Noninterest income was positively affected by $138,000 in gains on sales of
securities in the fourth quarter of 2012 and $1.2 million in gains on sales of
securities in the third quarter of 2012. Also positively affecting
noninterest income on a linked quarter basis was an increase in service
charges on deposit accounts of $13,000, from $716,000 in the third quarter of
2012 to $729,000 in the fourth quarter of 2012. Other noninterest income
declined $138,000 on a linked quarter basis and was $464,000 in the fourth
quarter of 2012 compared with $602,000 in the third quarter of 2012. This
decrease reflects fewer reimbursable loss events in FDIC covered loans.

Year over year, noninterest income increased $631,000, from negative $1.5
million in the fourth quarter of 2011, to negative $821,000 in the fourth
quarter of 2012. FDIC indemnification asset amortization was the largest
contributor to this increase, $1.1 million, and improved from negative $2.6
million in the fourth quarter of 2011 to negative $1.5 million for the same
period in 2012. Service charges on deposit accounts increased $82,000, from
$647,000 in the fourth quarter of 2011 to $729,000 for the same period in
2012. Offsetting these increases was an increase of $323,000 in loss on
OREO. Loss on OREO was $337,000 in the fourth quarter of 2011 and $660,000 in
the fourth quarter of 2012. Additionally, gains on sales of securities
declined $168,000 year over year and were $306,000 in the fourth quarter of
2011 and $138,000 in the fourth quarter of 2012. Other noninterest income
declined $71,000, from $535,000 in the fourth quarter of 2011 to $464,000 in
the fourth quarter of 2012.

For the year ended December 31, 2012, noninterest income equaled negative $2.4
million, compared with negative $5.0 million for the year ended December 31,
2011. This improvement of $2.5 million was due to a reduction in FDIC
indemnification asset amortization of $3.4 million, from $10.4 million for the
year ended December 31, 2011 to $6.9 million for the same period in 2012.
Also improving noninterest income performance was a $1.0 million reduction in
loss on OREO, from a loss of $2.9 million for the year ended December 31, 2011
to a loss of $1.8 million for the same period in 2012. Service charges on
deposit accounts increased 9.3%, or $233,000, from $2.5 million for the year
ended December 31, 2011 to $2.7 million for the same period in 2012.
Offsetting these increases was a decrease in gain on sale of securities of
$1.4 million, from $2.9 million for the year ended December 31, 2011 to $1.5
million for the same period in 2012. Other noninterest income declined
$800,000 for the year ended December 31, 2012 compared with the same period in
2011. Other noninterest income was $2.1 million for the year ended December
31, 2012 and $2.9 million for the year ended December 31, 2011.

Noninterest Expense

On a linked quarter basis, noninterest expenses totaled $7.6 million for the
three months ended December 31, 2012 compared with $8.0 million for the
quarter ended September 30, 2012, a decrease of $466,000, or 5.8%. FDIC
assessment declined $331,000 on a linked quarter basis, the result of a change
in the Bank's risk classification and an adjustment in the amortization of the
FDIC's 2010 prepaid assessment. Data processing expenses declined $138,000 on
a linked quarter basis and were $473,000 in the third quarter of 2012 and
$335,000 in the fourth quarter of 2012. During the fourth quarter of 2012,
the Company received a reimbursement of $177,000 from its third party core
processor for indirect expenses related to processing delays as a result of
Hurricane Sandy.

Noninterest expenses declined $1.1 million, or 12.2%, when comparing the
fourth quarter of 2012 to the same period in 2011. FDIC assessment declined
$538,000, from $575,000 in the fourth quarter of 2011 to $37,000 in the fourth
quarter of 2012. Other operating expenses declined $176,000, from $1.7
million in the fourth quarter of 2011 to $1.5 million in the fourth quarter of
2012. Data processing fees declined $124,000 when comparing the fourth
quarter of 2012 to the same period in 2011 and were $459,000 in the fourth
quarter of 2011 and $335,000 in the fourth quarter of 2012. Salaries and
employee benefits declined $110,000 year over year, from $4.2 million in the
fourth quarter of 2011 to $4.1 million in the fourth quarter of 2012.

For the year ended December 31, 2012, noninterest expenses declined $3.2
million, or 8.9%, when compared with the same period in 2011. Noninterest
expenses were $35.9 million for the year ended December 31, 2011 and declined
to $32.7 million for the same period in 2012. FDIC assessment exhibited the
largest category decrease, $1.3 million, and was $2.8 million for the year
ended December 31, 2011 compared with $1.5 million for the same period in
2012, a decrease of 46.7%. Other operating expenses were $6.3 million and
declined $838,000 from $7.2 million for the year ended December 31, 2011.
Additional declines for the year ended December 31, 2012 compared with the
year ended December 31, 2011 were $393,000 in legal fees, $192,000 in
professional fees, $179,000 in occupancy expenses, $150,000 in equipment
expenses, $92,000 in salaries and employee benefits and $40,000 in data
processing fees. The decrease in legal fees and professional fees were
primarily a reflection of improved credit quality. Other improvements reflect
a concerted effort on the part of management to drive overhead expenses lower.

Income Taxes

Income tax expense was $448,000 for the three months ended December 31, 2012,
compared with income tax expense of $837,000 in the third quarter of 2012.
Income tax expense was $239,000 in the fourth quarter of 2011. For the year
ended December 31, 2012, income tax expense was $2.1 million compared with
income tax expense of $60,000 for the year ended December 31, 2011.

FINANCIAL CONDITION

At December 31, 2012, the Company had total assets of $1.153 billion, an
increase of $60.8 million, or 5.6%, from total assets of $1.092 billion at
December 31, 2011. Total loans were $660.1million at December 31, 2012,
increasing $17.8 million, or 2.8%, from $642.3 million at December 31,
2011.The carrying value of FDIC covered loans declined $12.9 million, or
13.2%, from December 31, 2011 and was $84.6 million at December 31, 2012.
Non-covered loans equaled $575.5 million at December 31, 2012, increasing
$30.8 million, or 5.6%, since December 31, 2011.

Non-covered loans, net of unearned income, increased $15.9 million, or 2.9%,
during the fourth quarter of 2012. Multifamily loans exhibited the largest
dollar increase, $6.7 million, or 30.3%, and ended the year at $28.7 million.
Commercial real estate loans increased $4.8 million, or 2.0%, and were $246.5
million at December 31, 2012. Residential 1-4 family loans grew $4.2
million, or 3.2%, in the fourth quarter of 2012, and were $135.4 million at
December 31, 2012. Commercial loans grew $4.4 million, or 6.0%, during the
fourth quarter of 2012 and were $77.8 million at December 31, 2102. 

The following table shows the composition of the Company's non-covered loan
portfolio at December 31, 2012, September 30, 2012 and December 31, 2011.



NON-COVERED LOANS
(Dollars in        December 31, 2012     September 30, 2012    December 31, 2011
thousands)
                            % of                  % of                  % of
                   Amount   Non-Covered  Amount   Non-Covered  Amount   Non-Covered
                            Loans                 Loans                 Loans
Mortgage loans on
real estate:
   Residential 1-4 $135,420 23.53%       $131,192 23.44%       $127,200 23.34%
   family
   Commercial      246,521  42.83%       241,692  43.18%       220,471  40.46%
   Construction
   and land        61,127   10.62%       64,304   11.49%       75,691   13.89%
   development
   Second          7,230    1.26%        7,569    1.35%        8,129    1.49%
   mortgages
   Multifamily     28,683   4.98%        22,018   3.93%        19,746   3.62%
   Agriculture     10,359   1.80%        10,527   1.88%        11,444   2.10%
    Total real   489,340  85.01%       477,302  85.27%       462,681  84.90%
   estate loans
Commercial loans   77,835   13.52%       73,415   13.12%       72,149   13.24%
Consumer           6,929    1.20%        7,442    1.33%        8,461    1.55%
installment loans
All other loans    1,526    0.27%        1,565    0.28%        1,659    0.31%
    Gross loans  575,630  100.00%      559,724  100.00%      544,950  100.00%
Allowance for loan (12,920)              (14,303)              (14,835)
losses
Net unearned
income/unamortized
   premium on      (148)                 (192)                 (232)
   loans
Non-covered loans,
net of unearned    $562,562              $545,229              $529,883
income



The Company's securities portfolio, including equity securities, increased
$54.7 million, or 18.0%, during the year ended December 31, 2012, to $358.8
million, with realized gains of $1.5 million, through sales activity. These
net gains were taken during the year in a portfolio repositioning strategy to
mitigate interest rate risk in a higher rate environment. In a higher rate
environment, the liquidity of fixed rate securities is compromised and
interest rate risk increases. The Company has shifted from mortgage-backed
securities balances to floating rate securities issued by the Small Business
Administration (SBA) and high quality state, county and municipalities.
Additionally, the Company took a short-term position in a $40 million U.S.
Treasury issue at December 31, 2012 to fully invest excess cash and due
balances.

The fair value of available-for-sale mortgage backed securities and
available-for-sale mortgage backed securities of U.S. Government sponsored
agencies declined by $127.6 million during 2012. Balances in U.S. Treasury and
U.S. Government agencies increased $145.9 million as the Company enacted its
strategy of buying SBA floating rate securities as a tool to mitigate interest
and liquidity risks in a higher rate environment. Also, balances in
available-for-sale municipal bonds increased by $55.6 million.

On a linked quarter basis, the Company's securities portfolio, including
equity securities, increased $46.3 million, from $312.4 million at September
30, 2012 to $358.8 million at December 31, 2012. There were $138,000 in gains
realized during the fourth quarter.

The Company had cash and cash equivalents of $24.1 million at December 31,
2012 compared with $21.8 million at December 31, 2011. There were $5.4
million in Federal funds purchased at December 31, 2012 compared with no
Federal funds sold or purchased at December 31, 2011.

The following table shows the composition of the Company's securities
portfolio, excluding equity securities, at December 31, 2012, September 30,
2012 and December 31, 2011.



SECURITIES PORTFOLIO
(Dollars in    December 31, 2012     September 30, 2012   December 31, 2011
thousands)
               Amortized  Fair     Amortized Fair     Amortized  Fair
               Cost        Value     Cost       Value     Cost        Value
Securities
Available for
Sale
U.S. Treasury
issue and
other
 U.S.     $      $        $       $         $      $ 
Government     153,480     153,277  111,523    110,899  7,255       7,414
agencies
U.S.
Government     500         503       502        509       1,005       1,033
sponsored
agencies
State, county  112,110     117,596   100,847    105,738   58,183      62,043
and municipal
Corporate and  7,530       7,618     6,535      6,608     4,801       4,631
other bonds
Mortgage
backed         15,192      15,560    16,888     17,236    73,616      74,093
securities
(MBS)
MBS - U.S.
Government     14,349      14,524    15,422     15,404    82,966      83,550
sponsored
agencies
 Total
securities     $      $        $       $         $        $
available for  303,161     309,078   251,717    256,394  227,826     232,764
sale
               December 31, 2012     September 30, 2012   December 31, 2011
               Amortized  Fair     Amortized Fair     Amortized  Fair
               Cost        Value     Cost       Value     Cost        Value
Securities
Held to
Maturity
State, county  $      $        $      $        $       $ 
and municipal   11,825    12,967   11,832     13,054   12,168      13,479
Mortgage
backed         9,112       9,727     10,099     10,820    12,743      13,565
securities
(MBS)
MBS - U.S.
Government     21,346      22,534    26,758     28,139    39,511      41,541
sponsored
agencies
 Total
securities     $      $        $      $        $       $ 
held to         42,283    45,228   48,689     52,013   64,422      68,585
maturity



Interest bearing deposits at December 31, 2012 were $896.3 million, an
increase of $27.8million from December31, 2011. Time deposits $100,000 and
over increased $47.2 million during the year ended December 31, 2012 as
management obtained $41.0 million in low cost brokered and municipal
certificates. Low cost NOW accounts increased $14.2 million, or 11.0%, during
2012 and $25.8 million, or 22.0%, during the fourth quarter. Savings deposits
increased $7.6 million during the year ended December 31, 2012. Time deposits
less than $100,000 decreased $39.0 million during 2012 as the availability of
low cost funds $100,000 and over allowed management to lower rates on retail
certificates. MMDA accounts declined $2.2 million during the year ended
December 31, 2012 and were $113.2 million.



The following table compares the mix of interest bearing deposits for December
31, 2012, September 30, 2012 and December 31, 2011.



INTEREST BEARING DEPOSITS
(Dollars in thousands)
                       December 31, 2012  September 30,     December 31, 2011
                                          2012
NOW                    $          $          $        
                        142,923           117,120        128,758
MMDA                   113,171            113,288           115,397
Savings                77,506             76,499            69,872
Time deposits less     287,422            292,374           326,383
than $100,000
Time deposits $100,000 275,318            263,087           228,128
and over
 Total interest      $          $          $        
bearing deposits        896,340           862,368        868,538

The Company had FHLB advances of $49.8 million at December 31, 2012 and $37.0
million at December 31, 2011. During the third quarter of 2012, the Company
obtained an additional $13.0 million in FHLB advances, as well as rolling over
$22.0 million in maturing advances at much lower rates than was being carried
prior to their maturities during the quarter. The Company anticipates that
the repricing on the $37.0 million will result in approximately $480,000 in
after tax savings and that net after tax savings on total FHLB borrowings will
be approximately $370,000.

Stockholders' equity was $115.3 million at December 31, 2012 and $111.2
million at December 31, 2011. The equity-to-asset ratios were 10.0% at
December 31, 2012 and 10.2% at December 31, 2011. Stockholders' equity was
$113.1 million at September 30, 2012.

Asset Quality – non-covered assets

Nonaccrual loans were $21.0 million at December 31, 2012, compared with $25.7
million at September 30, 2012 and $28.5 million at December 31, 2011. The
decrease from September 30, 2012 was comprised of $3.0 million in additions to
nonaccrual loans, $4.6 million of loans returning to accrual status due to
satisfactory payment performance, $1.9 million in charge-offs, $82,000 in
foreclosures and $1.4 million in payments to existing loans on nonaccrual.

Total nonperforming assets decreased $5.4 million, from $37.7 million at
September 30, 2012 to $32.4 million at December 31, 2012. Total nonperforming
assets also decreased $8.4 million, or 20.7%, from total nonperforming assets
of $40.8 million at December 31, 2011.

There were net charge-offs of $1.8 million in the fourth quarter of 2012 and
$3.4 million for the year ended December 31, 2012. Total charge-offs for the
fourth quarter of 2012 were $2.0 million and recoveries of previously
charged-off loans for the same period were $141,000. Total charge-offs for
the year ended December 31, 2012 were $5.5 million and recoveries of
previously charged-off loans for the same period were $2.1 million.

Non-covered OREO decreased $1.1 million in the fourth quarter of 2012 and was
$10.8 million at December 31, 2012. The change in non-covered OREO during the
fourth quarter of 2012 was reflected in additions of $425,000, reductions by
sales of $900,000 and write-downs of $626,000. Non-covered OREO of $10.8
million at December 31, 2012 was $541,000 higher than at December 31, 2011.

The allowance for loan losses equaled 61.38% of non-covered nonaccrual loans
at December 31, 2012, compared with 55.59% of non-covered nonaccrual loans at
September 30, 2012 and 51.98% at December 31, 2011. The ratio of the allowance
for loan losses to total nonperforming assets was 39.94% at December 31, 2012,
compared with 37.93% at September 30, 2012 and 36.36% at December 31, 2011.
Nonperforming assets to loans and other real estate have declined from 7.35%
at December 31, 2011 to 5.52% at December 31, 2012.

The following table reconciles the activity in the Company's non-covered
allowance for loan losses, by quarter, for the past five quarters.



CREDIT QUALITY
 (Dollars in         2012        2012       2012        2012       2011
 thousands)
                     Fourth      Third      Second      First      Fourth
                     Quarter     Quarter    Quarter     Quarter    Quarter
 Allowance for loan
 losses:
 Beginning of period $  14,303  $         $  13,935  $         $ 
                                 13,526                 14,835     15,764
 Provision for loan  450         -          500         500        -
 losses
 Charge-offs         (1,974)     (819)      (1,147)     (1,557)    (969)
 Recoveries          141         1,596      238         157        40
 Net (charge-offs)   (1,833)     777        (909)       (1,400)    (929)
 recovery
 End of period       $  12,920  $         $  13,526  $         $ 
                                 14,303                 13,935     14,835

The following table sets forth selected asset quality data, excluding FDIC
covered assets, and ratios for the dates indicated:



ASSET QUALITY (NON-COVERED)
(Dollars in thousands)          2012                                 2011
                                December  September June    March    December
                                31        30        30      31       31
Nonaccruing loans               $ 21,048 $ 25,730 $25,168 $25,601  $ 28,542
Loans past due over 90 days and 509       85        -       403      2,005
accruing interest
Total nonperforming non-covered 21,557    25,815    25,168  26,004   30,547
loans
Other real estate owned         10,793    11,896    11,869  12,696   10,252
non-covered
Total nonperforming non-covered $ 32,350 $ 37,711 $37,037 $38,700  $ 40,799
assets
Allowance for loan losses to    2.25%     2.56%     2.46%   2.54%    2.72%
loans
Allowance for loan losses to    39.94%    37.93%    36.52%  36.01%   36.36%
nonperforming assets
Allowance for loan losses to    61.38%    55.59%    53.74%  54.43%   51.98%
nonaccrual loans
Nonperforming assets to loans   5.52%     6.60%     6.60%   6.89%    7.35%
and other real estate
Net charge-offs/(recovery) for
quarter to average loans,
 annualized                1.30%     (0.56%)   0.66%   1.02%    0.71%



A further breakout of nonaccrual loans, excluding covered loans, at December
31, 2012, September 30, 2012 and December 31, 2011 is below:





NON-COVERED NONACCRUAL LOANS
(Dollars in      December 31, 2012    September 30, 2012   December 31, 2011
thousands)
                         % of                 % of                 % of
                 Amount  Non-Covered  Amount  Non-Covered  Amount  Non-Covered
                         Loans                Loans                Loans
Mortgage loans
on real estate:
 Residential 1-4 $      0.97%        $      0.98%        $      0.98%
 family          5,562               5,474               5,320
 Commercial      5,818   1.01%        8,916   1.59%        9,187   1.69%
 Construction
 and land        8,814   1.53%        10,318  1.84%        12,718  2.33%
 development
 Second          141     0.02%        140     0.03%        189     0.03%
 mortgages
 Multifamily     -       -            -       -            -       -
 Agriculture     250     0.04%        54      0.01%        53      0.01%
  Total real   20,585  3.58%        24,902  4.45%        27,467  5.04%
 estate loans
Commercial loans 385     0.07%        703     0.13%        1,003   0.18%
Consumer
installment      78      0.01%        125     0.02%        72      0.01%
loans
All other loans  -       -            -       -            -       -
  Gross loans  $       3.66%        $       4.60%        $       5.24%
                 21,048              25,730              28,542

Capital Requirements

Total stockholders' equity was $115.3 million at December 31, 2012. The
Company's ratio oftotal risk-based capital was 16.9% at December 31, 2012
compared to 16.2% at December 31, 2011. The tier 1 risk-based capital ratio
was 15.7% at December 31, 2012 and 15.0% at December 31, 2011. The Company's
tier 1 leverage ratio was 9.4% at December 31, 2012 and 8.9% at December 31,
2011.All capital ratios exceed regulatory minimums.

About Community Bankers Trust Corporation

The Company is the holding company for Essex Bank, a Virginia state bank with
24 full-service offices, 13 of which are in Virginia, seven of which are in
Maryland and four of which are in Georgia. The Company also operates one loan
production office. Additional information is available on the Company's
website at www.cbtrustcorp.com.

Earnings Conference Call and Webcast

The Company will host a conference call for the financial community on
Wednesday, January 30, 2013, at 10:00 a.m. Eastern Time to discuss the fourth
quarter and year 2012 financial results. The public is invited to listen to
this conference call by dialing800-860-2442 at least five minutes prior to
the call. Interested parties may also listen to this conference call through
the internet by accessing the "Corporate Overview – Corporate Profile" page of
the Company's internet site at www.cbtrustcorp.com.

A replay of the conference call will be available from 1:00 p.m. Eastern Time
on January 30, 2013 until 9:00 a.m. Eastern Time on February 11, 2013. The
replay will be available by dialing 877-344-7529 and entering access code
10024161 or through the internet by accessing the "Corporate Overview –
Corporate Profile" page of the Company's internet site at www.cbtrustcorp.com.

Forward-Looking Statements

This release contains forward-looking statements, within the meaning of the
Private Securities Litigation Reform Act of 1995, that are subject to risks
and uncertainties. These forward-looking statements include, without
limitation, statements with respect to the Company's operations, performance,
future strategy and goals. Actual results may differ materially from those
included in the forward-looking statements due to a number of factors,
including, without limitation, the effects of and changes in the following:
the quality or composition of the Company's loan or investment portfolios,
including collateral values and the repayment abilities of borrowers and
issuers; assumptions that underlie the Company's allowance for loan losses;
general economic and market conditions, either nationally or in the Company's
market areas; the ability of the Company to comply with regulatory actions,
and the costs associated with doing so; the interest rate environment;
competitive pressures among banks and financial institutions or from companies
outside the banking industry; real estate values; the demand for deposit,
loan, and investment products and other financial services; the demand,
development and acceptance of new products and services; the Company's
compliance with, and the timing of future reimbursements from the FDIC to the
Company under, the shared loss agreements; assumptions and estimates that
underlie the accounting for loan pools under the shared loss agreements;
consumer profiles and spending and savings habits; the securities and credit
markets; costs associated with the integration of banking and other internal
operations; management's evaluation of goodwill and other assets on a periodic
basis, and any resulting impairment charges, under applicable accounting
standards; the soundness of other financial institutions with which the
Company does business; inflation; technology; and legislative and regulatory
requirements. Many of these factors and additional risks and uncertainties are
described in the Company's Annual Report on Form 10-K for the year ended
December31, 2011 and other reports filed from time to time by the Company
with the Securities and Exchange Commission. This press release speaks only as
of its date, and the Company disclaims any duty to update the information in
it.



Consolidated Statements of Financial Condition
Unaudited Condensed
(Dollars in thousands)
                             December 31,     September 30,    December 31,
                             2012             2012             2011
 Assets
Cash and due from banks      $         $         $       
                               12,502         15,116      11,078
Interest bearing bank        11,635           17,298           10,763
deposits
Federal funds sold           -                5,000            -
 Total cash and cash        24,137           37,414           21,751
equivalents
Securities available for     309,078          256,394          232,764
sale, at fair value
Securities held to maturity  42,283           48,689           64,422
Equity securities,           7,405            7,351            6,872
restricted, at cost
 Total securities           358,766          312,434          304,058
 Loans held for resale     1,266            1,736            580
Loans not covered by FDIC    575,482          559,532          544,718
shared loss agreements
Loans covered by FDIC shared 84,637           89,121           97,561
loss agreements
Allowance for loan losses    (12,920)         (14,303)         (14,835)
(non-covered)
Allowance for loan losses    (484)            (456)            (776)
(covered)
 Net loans                  646,715          633,894          626,668
Bank premises and equipment  33,638           34,002           35,084
Other real estate owned      10,793           11,896           10,252
Covered FDIC other real      3,370            2,943            5,764
estate owned
FDIC receivable              895              715              1,780
Bank owned life insurance    15,146           15,008           14,592
Core deposit intangibles,    10,296           10,863           12,558
net
FDIC indemnification asset   33,837           36,191           42,641
Other assets                 14,429           15,181           16,768
 Total assets             $          $         $      
                             1,153,288       1,112,277       1,092,496
 Liabilities
Deposits:
 Noninterest bearing      $         $         $       
                                77,978         78,388     64,953
 Interest bearing         896,340          862,368          868,538
 Total deposits         974,318          940,756          933,491
Federal funds purchased      5,412            -                -
Federal Home Loan Bank       49,828           50,000           37,000
advances
Trust preferred capital      4,124            4,124            4,124
notes
Other liabilities            4,289            4,259            6,701
 Total liabilities        1,037,971        999,139          981,316
 Stockholders' Equity
Preferred stock (5,000,000
shares authorized $0.01 par  17,680           17,680           17,680
value) 17,680 shares issued
and outstanding
Discount on preferred stock  (234)            (289)            (454)
Warrants on preferred stock  1,037            1,037            1,037
Common stock (200,000,000
shares authorized $0.01 par
value; 21,670,212 shares     217              217              216
issued and outstanding at
December 31, 2012)
Additional paid in capital   144,398          144,351          144,243
(Accumulated deficit)        (50,609)         (51,906)         (53,761)
retained earnings
Accumulated other            2,828            2,048            2,219
comprehensive income
 Total stockholders'       115,317          113,138          111,180
equity
 Total liabilities and     $          $         $      
stockholders' equity         1,153,288       1,112,277       1,092,496

Consolidated Statements of Operations
Unaudited Condensed
(Dollars in thousands)
                                                                    Three
                        Three months ended                          months
                                                                    ended
                        December   September   June    March    December
                        31,       30,        30,     31,      31,
                        2012        2012         2012     2012      2011
Interest and dividend
income
Interest and fees on   $  7,687  $   7,710  $       $        $  7,396
loans                                            7,574   7,687
Interest and fees on   2,894       2,931        4,366    3,914     4,251
FDIC covered loans
Interest on federal    1           -            3        1         1
funds sold
Interest on deposits   14          9            19       12        13
in other banks
Investments (taxable)  2,189       2,103        2,039    2,077     2,036
Investments            134         119          118      118       180
(nontaxable)
Total interest income  12,919      12,872       14,119   13,809    13,877
Interest expense
Interest on deposits   1,858       2,056        2,241    2,353     2,504
Interest on federal    3           3            3        -         -
funds purchased
Interest on other      193         280          343      359       360
borrowed funds
Total interest expense 2,054       2,339        2,587    2,712     2,864
Net interest income    10,865      10,533       11,532   11,097    11,013
Provision for loan     450         -            500      250       -
losses
Net interest income
after provision for     10,415      10,533       11,032   10,847    11,013
loan losses
Noninterest income
Loss on OREO           (660)       (767)        (229)    (177)     (337)
FDIC indemnification   (1,492)     (1,579)      (1,983)  (1,882)   (2,603)
asset amortization
Gain/(loss) on sale of 138         1,180        290      (116)     306
securities
Service charges on     729         716          674      617       647
deposit accounts
Other                 464         602          544      501       535
Total noninterest       (821)       152          (704)    (1,057)   (1,452)
income
Noninterest expense
Salaries and employee  4,068       4,028        4,177    4,238     4,178
benefits
Occupancy expenses     691         708          685      631       660
Equipment expenses     256         266          270      295       298
Legal fees             9           3            15       24        63
Professional fees      84          74           148      85        126
FDIC assessment        37          368          496      584       575
Data processing fees   335         473          499      517       459
Amortization of        566         565          565      565       565
intangibles
Other operating        1,527       1,554        1,790    1,471     1,703
expenses
Total noninterest      7,573       8,039        8,645    8,410     8,627
expense
Net income before      2,021       2,646        1,683    1,380     934
income taxes
Income tax expense     (448)       (837)        (473)    (390)     (239)
Net income             1,573       1,809        1,210    990       695
Dividends on preferred 221         221          221      221       221
stock
Accretion of discount  55          55           55       55        51
on preferred stock
Net income available
to common
 stockholders        $  1,297  $  1,533   $     $  714   $   423
                                                 934



Income Statement Trend Analysis
Unaudited Condensed
(Dollars in thousands)                 Year ended
                                       December     December      December
                                       31,          31,           31,
                                       2012         2011          2010
Interest and dividend income
Interest and fees on loans             $  30,658   $  29,272    $   33,444
Interest and fees on FDIC covered     14,105       17,576        13,759
loans
Interest on federal funds sold         5            6             9
Interest on deposits in other banks    54           65            100
Investments (taxable)                  8,408        8,091         8,486
Investments (nontaxable)               489          1,025         3,128
Total interest income                  53,719       56,035        58,926
Interest expense
Interest on deposits                   8,508        10,815        17,041
Interest on federal funds purchased    9            1             3
Interest on other borrowed funds       1,175        1,412         1,345
Total interest expense                 9,692        12,228        18,389
Net interest income                    44,027       43,807        40,537
Provision for loan losses              1,200        1,498         27,363
Net interest income after provision    42,827       42,309        13,174
for loan losses
Noninterest income
Loss on OREO                           (1,833)      (2,869)       (5,052)
FDIC indemnification asset             (6,936)      (10,364)      (3,165)
amortization
Gains on sale of securities            1,492        2,868         3,588
Service charges on deposit accounts    2,736        2,503         2,464
Other                                  2,111        2,911         3,809
Total noninterest income               (2,430)      (4,951)       (1,644)
Noninterest expense
Salaries and employee benefits         16,511       16,603        19,190
Occupancy expenses                     2,715        2,894         2,948
Equipment expenses                     1,087        1,237         1,394
Legal fees                             51           444           456
Professional fees                      391          583           1,802
FDIC assessment                        1,485        2,788         2,395
Data processing fees                   1,824        1,864         2,306
Amortization of intangibles            2,261        2,261         2,261
Impairment of goodwill                -            -             5,727
Other operating expenses               6,342        7,180         6,774
Total noninterest expense              32,667       35,854        45,253
Net income/(loss) before income tax    7,730        1,504         (30,435)
Income tax (expense) benefit           ( 2,148)     (60)          9,442
Net income/(loss)                      5,582        1,444         (20,993)
 Dividends on preferred stock         884          884           884
 Accretion of discount on preferred  220          206           194
stock
Net income/(loss) available to common  $   4,478  $    354  $ (22,071)
stockholders





Net Interest Margin Analysis
Average Balance Sheet
(Dollars in thousands)
                  Three months ended December    Three months ended December
                  31, 2012                       31, 2011
                                        Average                        Average
                  Average     Interest  Rates    Average     Interest  Rates
                  Balance    Income /  Earned   Balance    Income /  Earned
                  Sheet       Expense   /        Sheet       Expense   /
                                        Paid                           Paid
ASSETS:
 Loans, including $ 564,926  $ 7,687  5.44%    $ 521,194  $ 7,396  5.68%
 fees
 Loans covered by 86,415      2,894     13.40%   98,283      4,251     17.30%
 FDIC loss share
  Total loans   651,341     10,581    6.50%    619,477     11,647    7.52%
 Interest bearing 23,636      14        0.25%    26,961      13        0.20%
 bank balances
 Federal funds    2,641       1         0.11%    1,739       1         0.10%
 sold
 Investments      302,949     2,189     2.89%    280,771     2,036     2.90%
 (taxable)
 Investments (tax 15,456      203       5.25%    18,803      271       5.76%
 exempt) (1)
  Total earning 996,023     12,988    5.22%    947,751     13,968    5.90%
 assets
 Allowance for    (14,323)                       (15,983)
 loan losses
 Non-earning      141,492                        151,277
 assets
  Total assets  $                             $
                  1,123,192                      1,083,045
LIABILITIES AND
 STOCKHOLDERS'
 EQUITY
 Demand -         $         $  189  0.31%    $         $      0.48%
 interest bearing 240,391                       235,291     284
 Savings          77,484      58        0.30%    69,480      82        0.47%
 Time deposits    552,926     1,611     1.17%    554,713     2,138     1.54%
  Total
 interest-bearing 870,801     1,858     0.85%    859,484     2,504     1.17%
 deposits
 Fed funds        1,833       3         0.51%    2           -         0.71%
 purchased
 FHLB and other   55,222      193       1.39%    41,124      360       3.51%
 borrowings
  Total
 interest-bearing 927,856     2,054     0.88%    900,610     2,864     1.27%
 liabilities
 Non-interest     76,154                         66,111
 bearing deposits
 Other            4,216                          5,434
 liabilities
  Total         1,008,226                      972,155
 liabilities
 Stockholders'    114,966                        110,890
 equity
  Total
 liabilities and
                $                              $
 stockholders' 1,123,192                     1,083,045
 equity
 Net interest                 $ 10,934                       $
 earnings                                                    11,104
 Interest spread                        4.34%                          4.63%
 Net interest                           4.39%                          4.69%
 margin
(1) Income and yields are reported on a tax equivalent basis assuming a
federal tax rate of 34%.



Net Interest Margin Analysis
Average Balance Sheet
(Dollars in thousands)
                       Year ended December 31, 2012    Year ended December 31, 2011
                                              Average                        Average
                       Average     Interest  Rates    Average     Interest  Rates
                       Balance     Income /   Earned   Balance     Income /  Earned
                       Sheet       Expense    /        Sheet       Expense   /
                                              Paid                           Paid
ASSETS:
      Loans, including $         $         5.51%    $         $        5.73%
      fees             556,113     30,658             510,940     29,272
      Loans covered by 91,489      14,105     15.42%   104,558     17,576    16.81%
      FDIC loss share
       Total loans   647,602     44,763     6.91%    615,498     46,848    7.61%
      Interest bearing 22,425      54         0.24%    25,678      65        0.26%
      bank balances
      Federal funds    4,254       5          0.11%    4,036       6         0.14%
      sold
      Investments      289,617     8,408      2.90%    266,887     8,091     3.03%
      (taxable)
      Investments (tax 13,168      741        5.63%    26,768      1,553     5.80%
      exempt) (1)
       Total earning 977,066     53,971     5.52%    938,867     56,563    6.02%
      assets
      Allowance for    (14,601)                        (19,614)
      loan losses
      Non-earning      145,507                         160,217
      assets
       Total assets  $                               $
                       1,107,972                      1,079,470
LIABILITIES AND
      STOCKHOLDERS'
      EQUITY
      Demand -         $         $      0.36%    $         $       0.56%
      interest bearing 238,418     859                 234,180     1,323
      Savings          74,129      256        0.35%    67,469      347       0.51%
      Time deposits    556,784     7,393      1.33%    558,239     9,145     1.64%
       Total
      interest-bearing 869,331     8,508      0.98%    859,888     10,815    1.26%
      deposits
      Fed funds        1,348       9          0.64%    191         1         0.63%
      purchased
      FHLB and other   45,359      1,175      2.59%    41,124      1,412     3.43%
      borrowings
       Total
      interest-bearing 916,038     9,692      1.06%    901,203     12,228    1.36%
      liabilities
      Non-interest     72,391                          64,150
      bearing deposits
      Other            4,532                           4,998
      liabilities
       Total         992,961                         970,351
      liabilities
      Stockholders'    115,011                         109,119
      equity
       Total
      liabilities and
      stockholders'
       equity    $                               $
                       1,107,972                      1,079,470
      Net interest                 $                              $ 
      earnings                     44,279                         44,335
      Interest spread                         4.46%                          4.66%
      Net interest                            4.53%                          4.72%
      margin
(1) Income and yields are reported on a tax equivalent basis assuming a federal tax
rate of 34%.

Non-GAAP Financial Measures

The information below presents certain financial information determined by
methods other than in accordance with accounting principles generally accepted
in the United States of America (GAAP). Common tangible book value equals
total stockholders' equity less preferred stock, goodwill and identifiable
intangible assets, and common tangible book value per share is computed by
dividing common tangible book value by the number of common shares
outstanding. Common tangible assets equal total assets less preferred stock,
goodwill and identifiable intangible assets.

Management believes that common tangible book value and the ratio of common
tangible book value to common tangible assets are meaningful because they are
some of the measures that the Company and investors use to assess capital
adequacy. Management believes that presenting the change in common tangible
book value per share, the change in stock price to common tangible book value
per share, and the change in the ratio of common tangible book value to common
tangible assets provide meaningful period-to-period comparisons of these
measures.

These measures are a supplement to GAAP used to prepare the Company's
financial statements and should not be viewed as a substitute for GAAP
measures. In addition, the Company's non-GAAP measures may not be comparable
to non-GAAP measures of other companies. The following table reconciles these
non-GAAP measures from their respective GAAP basis measures.



                         December 31, 2012  September 30,    December 31, 2011
                                            2012
Common Tangible Book
Value
Total stockholder's      115,317,000        113,138,000      111,118,000
equity
Preferred stock (net)    18,483,000         18,428,000       18,263,000
Core deposit intangible  10,296,000         10,862,000       12,558,000
(net)
Common tangible book     86,538,000         83,848,000       80,297,000
value
Shares outstanding       21,670,212         21,656,951       21,627,549
Common tangible book     $           $         $       
value per share          3.99               3.87             3.71
Stock Price              $           $         $       
                         2.65               2.80             1.15
Price/common tangible    66.4%              72.3%            31.0%
book
Common tangible
book/common tangible
assets
 Total assets        1,153,288,000      1,112,277,000    1,092,496,000
 Preferred stock     18,483,000         18,428,000       18,263,000
(net)
 Core deposit        10,296,000         10,863,000       12,558,000
intangible
Common tangible assets   1,124,509,000      1,082,987,000    1,061,675,000
Common tangible book    86,538,841         83,848,000       80,297,000
Common tangible equity   7.70%              7.74%            7.56%
to assets



SOURCE Community Bankers Trust Corporation

Website: http://www.cbtrustcorp.com
Contact: Bruce E. Thomas, Executive Vice President/Chief Financial Officer,
Community Bankers Trust Corporation, +1-804-934-9999