Community Bankers Trust Corporation Reports Results for Second Quarter 2014

 Community Bankers Trust Corporation Reports Results for Second Quarter 2014

Quarterly and Year to Date Net Income Increased 7.0% and 17.5% from the Prior
Year

Net Income Available to Common Shareholders Increased 34.8% for the Six-Month
Period

Conference Call on Friday, July 25, 2014, at 10:00 a.m. Eastern Time

PR Newswire

RICHMOND, Va., July 25, 2014

RICHMOND, Va., July 25, 2014 /PRNewswire/ --Community Bankers Trust
Corporation (the "Company") (NASDAQ: ESXB), the holding company for Essex Bank
(the "Bank"), today reported results for the second quarter and first six
months of 2014.

Community Bankers Trust Corporation logo.

OPERATING HIGHLIGHTS

  oNon-covered loans grew by $33.6 million, or 5.7%, during the second
    quarter of 2014.
  oAsset quality remained solid, and there was no provision for loan losses.
    The ratio of the allowance for loan losses to total non-covered loans
    remained sound at 1.62% as of June 30, 2014.
  oOther real estate owned (OREO) expense equaled $100,000 for the second
    quarter of 2014, a decrease of $402,000 or 80.1%, as compared to the same
    quarter of the prior year.
  oDuring the second quarter, the Company opened two new branches: one in
    Annapolis, Maryland and another in Richmond, Virginia at the site of the
    Company's new corporate headquarters.
  oThe Company launched a full scale wholesale mortgage operation.

FINANCIAL HIGHLIGHTS

  oNet income increased 7.0% to $1.7 million for the second quarter of 2014,
    as comparedwith the second quarter of the prior year.
  oNet income increased 17.5% to $3.4 million for the first six months of
    2014, as comparedwith the first half of the prior year.
  oFully diluted earnings per common share were $0.07 for the second quarter
    of 2014 compared with $0.06 for the second quarter of 2013.
  oThe Company repaid the remaining balance of $10,680,000 on its TARP
    preferred stock from the U.S. Department of the Treasury ("Treasury").
    The Company funded the repurchase through a third-party loan and believes
    the repayment will result in total expected after-tax savings of at least
    $750,000.
  oIn addition, the Company repurchased the warrant associated with the TARP
    investment, paying the Treasury $780,000 for the repurchase.

MANAGEMENT COMMENTS 

Rex L. Smith, III, President and Chief Executive Officer of the Company and
the Bank, stated, "We are very pleased with our accomplishments in the second
quarter, as we reported strong year-over-year improvement inmany financial
metrics. We experienced strong loan growth, with new loans increasing by $33.6
million for the quarter, an annualized growth rate of 22.8%. The outstanding
loan growth is largely due to the continued re-focus of our Company on
traditional lending in growing markets where our brand is respected, along
with providing direct, local service by our market operators that larger
national banks cannot replicate."

Mr. Smith concluded, "While we feel that the second quarter was outstanding in
many aspects, we strive to do more and continue to explore ways to expand the
Company's presence within our geographic footprint. We opened a new branch in
Annapolis, Maryland as well as moved into our new corporate headquarters in
Richmond, Virginia, which now has a branch location. We successfully exited
TARP by repaying the balance on our preferred stock as well as on the
associated warrant. Lastly, we opened a full scale wholesale mortgage
operation, which we relocated into the same building as our headquarters. We
will begin to recognize revenue from this operation in the third quarter and
fully expect it to positively impact the Company's noninterest income. Our
management team remains focused on increasing earnings per share and
maximizing shareholder value."

RESULTS OF OPERATIONS

Net income was $1.7 million for the second quarter of 2014, compared with $1.7
million in the first quarter of 2014 and $1.6 million in the second quarter of
2013. Net income available to common shareholders was $1.5 million in the
second quarter of 2014 compared with $1.7 million in the first quarter of 2014
and $1.3 million in the second quarter of 2013.

Earnings per common share, basic and fully diluted, were $0.07 per share for
the second quarter of 2014 compared with $0.08 per share for the first quarter
of 2014 and $0.06 per share for the second quarter of 2013.

Comparing the first two quarters of 2014, net interest income increased for
the second quarter by $449,000, or 4.4%, due to robust non-covered loan growth
coupled with strong covered loan income. Noninterest income declined
$331,000, or 25.4%, on a linked quarter basis due to a reduction in securities
gains of $331,000 from quarter to quarter. Noninterest expenses increased
quarter over quarter by $182,000 or 2.0%. This was partially the result of an
increase in staffing related to the Company's new wholesale mortgage
operation, two new branches,as well as an increase in other operating
expenses.

The Company reported a year-over-year reduction in noninterest expenses of
$399,000, or 4.1%, for the second quarter. The most notable decline was
evidenced in OREO expense, which equaled $100,000 for the second quarter of
2014, declining $402,000 or 80.1%, from the same quarter in 2013. The
reduction in noninterest expenses more than offset a $368,000, or 27.5%,
decline in noninterest income. Virtually all components of noninterest income
were lower in the second quarter of 2014 versus the second quarter of 2013.
The largest of which were a decrease of $140,000 in service charge income,
which was lower to a large extent due to the sale of Georgia deposits in
November 2013, and a decrease of $106,000 in securities gains.

Net income was $3.4 million for the six months ended June 30, 2014 compared
with $2.9 million for the first half of 2013. The $513,000 or 17.5%
improvement year over year was primarily driven by a $933,000 reduction in
noninterest expenses, $856,000 of which came from lower OREO expenses. Net
income available to common shareholders was $3.2 million in the first half of
2014 compared with $2.4 million in the first half of 2013, an increase of
34.8%. Earnings per common share, basic and fully diluted, were $0.15 per
share and $0.11 per share for the respective time frame.

The following table presents summary income statements for the three and six
months ended June 30, 2014 and June 30, 2013, respectively.

SUMMARY INCOME
STATEMENT
(Dollars in           For the three months ended  For the six months ended
thousands)
                      June 30, 2014  June 30,     June 30, 2014  June 30, 2013
                                     2013
Interest income       $        $       $        $      
                      12,455         12,491       24,334       24,657
Interest expense      1,697          1,791        3,267          3,685
Net interest income   10,758         10,700       21,067         20,972
Provision for loan    -              -            -              -
losses
Net interest income
after provision
for loan losses       10,758         10,700       21,067         20,972
Noninterest income    970            1,338        2,271          2,664
Noninterest expense   9,359          9,758        18,536         19,469
Net income before     2,369          2,280        4,802          4,167
income taxes
Income tax expense    649            673          1,358          1,236
Net income            1,720          1,607        3,444          2,931
Dividends on          182            221          247            442
preferred stock
Accretion of
preferred stock       -              59           -              117
discount
Net income per share
available
to common             $        $       $        $      
shareholders           1,538          1,327      3,197        2,372
EPS Basic             $        $       $        $      
                        0.07          0.06      0.15       0.11
EPS Diluted           $        $       $        $      
                        0.07          0.06      0.15       0.11

Interest Income

Interest income was $12.5 million for the second quarter of 2014, increasing
$576,000, or 4.8%, from the first quarter of 2014. Interest and fees on
non-covered loans increased $240,000, or 3.4%, on a linked quarter basis while
FDIC covered loan income increased $303,000 or 10.2%. Solid loan growth
during the quarter augmented loan interest income on the non-covered loan
portfolio, while the increase in income on covered loans was the direct result
of payments made on an acquisition, development, and construction loan and a
consumer loan that were treated as cash income, as these pools had previously
been written down to a zero carrying value.

A slight shift in earning assets mix aided interest income during the second
quarter of 2014 compared with the first quarter of 2014. Average non-covered
loan balances increased $15.5 million during the second quarter versus the
first quarter of 2014, while non-covered loan yields declined only 1 basis
point quarter over quarter. Covered loan balances continued to amortize
slightly, however, the yield on this portfolio increased 312 basis points over
the first quarter of 2014 as a result of cash payments mentioned previously.
Average securities balances were $7.3 million lower than the first quarter of
2014, yet tax equivalent yields on securities increased from 2.59% to 2.69%
during the second quarter of this year. The improvement in the securities
yield was the direct result of management's concerted effort to sell part of
its floating rate SBA portfolio to mitigate ongoing premium acceleration.

Interest income declined nominally by $36,000, or 0.3%, when comparing the
second quarters of 2014 and 2013. Interest income on the non-covered loan
portfolio declined $331,000, or 4.3%, during this time frame. While average
balances on non-covered loans increased $28.1 million, the yield declined 45
basis points from the second quarter of 2013 to the second quarter of 2014.
Continued competitive pricing for new loans precipitated this decline.
Interest and fees on FDIC covered loans increased $519,000 when comparing the
second quarter of 2014 to the second quarter of 2013. Cash payments on loans
related to pools that had previously been written down to a zero carrying
value equaled $706,000, while there were no cash payments on these pools in
the second quarter of 2013. Interest income on securities declined $228,000
on a tax equivalent basis from the second quarter of 2013 to the second
quarter of 2014. Securities income was affected by a $21.4 million decline in
average balances as well as an 11 basis point decline in yield when comparing
the second quarters of 2014 and 2013, respectively.

For the six months ended June 30, 2014, interest income of $24.3 million
represented a decrease of $323,000, or 1.3%, from interest income of $24.7
million for the same period in 2013. Interest and fees on non-covered loans
was $14.3 million for the six months ended June 30, 2014 compared with $15.1
million for the same period in 2013. Despite a $21.6 million increase in
average non-covered loan balances, the yield earned on these balances declined
from 5.25% for the first six months of 2013 to 4.79% for the first six months
of 2014. Interest and fees on FDIC covered loans increased $821,000 when
comparing the six months ended June 30, 2014 to the same period in 2013.
Cash payments on loans related to pools that were written down to a zero
carrying value equaled $1.1 million, while $104,000 in cash payments on these
pools were received in the first half of 2013. Interest and dividends on
securities declined $363,000 when comparing the first six months of 2013 to
the same period in 2014 and was $3.7 million for the first six months of 2014
compared with $4.1 million for the same period in 2013. The tax equivalent
yield on securities was 2.64% for the first half of 2014, a nominal 6 basis
point decline from the same period in 2013.

Interest Expense

Interest expense was $1.7 million for the second quarter of 2014, increasing
$127,000, or 8.1%, from the first quarter of 2014. The cost of interest
bearing deposits remained virtually unchanged, at 0.70% for the second quarter
of 2014 versus 0.69% for the first quarter of 2014, yet average interest
bearing deposits balances increased $13.4 million on a linked quarter basis.
During the second quarter, the Company incurred $10.7 million in long-term
debt to retire its outstanding TARP preferred stock. Theinterest rateon the
debt is 3-month LIBOR plus 350 basis points. Management anticipates
significant after tax savings as the loan interest rate, 3.73% for the second
quarter, is tax deductible, while the dividend rate on the TARP preferred
stock was 9.0%, and was not deductible for tax purposes. The cost of the new
long-term debt was $81,000 for the second quarter of 2014.

Interest expense declined $94,000, or 5.2%, from the second quarter of 2013 to
the second quarter of 2014. Interest expense related to interest bearing
deposits declined $147,000 or 9.2%. The average balances in these deposits
declined $24.4 million year over year, which was primarily the result of the
sale of the Georgia branches. Meanwhile, the Bank increased its level of FHLB
borrowings to fund the sale. Over the same time frame, average FHLB advances
increased $27.3 million, yet the expense associated with the borrowings
declined $27,000. Lower advance rates more than offset the increased volume
as the cost of these borrowings improved 61 basis points over this time
frame.

For the six months ended June 30, 2014, total interest expense declined
$418,000, or 11.3%, and was $3.3 million compared with $3.7 million for the
same period in 2013. The cost of interest bearing deposits declined $440,000,
or 13.3%, from $3.3 million to $2.9 million when comparing the first six
months of 2013 and 2014, respectively. Correspondingly, the rate paid on
average total interest bearing deposits declined from 0.77% to 0.70% during
this period. The cost of FHLB and other borrowings declined for the first six
months of 2014 to 0.80% compared with 1.43% for the same period in 2013. With
the interest expense improvement, as detailed previously, the cost of total
interest bearing liabilities decreased from 0.81% for the first six months of
2013 to 0.72% for the same period in 2014.

Net Interest Income

Net interest income was $10.8 million for the quarter ended June 30, 2014,
compared with $10.3 million for the quarter ended March 31, 2014.This
represents an increase of $449,000, or 4.4%.The increase in net interest
income on a linked quarter basis is the direct result of the factors noted
above in the Interest Income section. The tax equivalent net interest margin
increased 7 basis points from 4.28% in the first quarter of 2014 to 4.35% in
the second quarter of 2014. Likewise, the interest spread increased from 4.23%
to 4.29% on a linked quarter basis.

Net interest income increased a modest $58,000, or 0.54%, from the second
quarter of 2013 to the second quarter of 2014. The Company's net interest
margin improved 3 basis points over this time frame. The Company was able to
maintain virtually the same yield on its earning asset base at 5.03% while
lowering its cost of funding 5 basis points to 0.74% for the quarter ended
June 30, 2014. As mentioned in the Interest Expense section above, this was
the result of improved funding costs related to FHLB advances.

For the first half of 2014, net interest income increased $95,000, or 0.45%,
from the first six months of 2013. The net interest margin improved from
4.25% for the first six months of 2013 to 4.32% for the same period in 2014.
Lower average interest bearing liabilities coupled with a 9 basis point
improvement in the Company's overall cost of funds aided the improvement in
the margin.

The following table compares the Company's net interest margin, on a
tax-equivalent basis, for the three months ended June 30, 2014, June 30, 2013
and March 31, 2014 and for the six months ended June 30, 2014 and June 30,
2013.

NET INTEREST MARGIN
(Dollars in thousands)                 For the three months ended
                                       June 30,       June 30,     March 31,
                                       2014           2013         2014
Average interest earning assets      $ 999,963     $  1,000,921  $ 984,026
Interest income                      $ 12,455      $  12,491     $ 11,879
Interest income - tax-equivalent     $ 12,542      $  12,575     $ 11,960
Yield on interest earning assets       5.03%          5.04%        4.93%
Average interest bearing liabilities $ 924,910     $  914,998    $ 904,639
Interest expense                     $ 1,697       $  1,791      $ 1,570
Cost of interest bearing liabilities   0.74%          0.79%        0.70%
Net interest income                  $ 10,758      $  10,700     $ 10,309
Net interest income - tax-equivalent $ 10,845      $  10,784     $ 10,390
Interest spread                        4.29%          4.25%        4.23%
Net interest margin                    4.35%          4.32%        4.28%
                                       For the six months ended
                                       June 30,       June 30,
                                       2014           2013
Average interest earning assets      $ 992,039     $  1,003,709
Interest income                      $ 24,334      $  24,657
Interest income - tax-equivalent     $ 24,501      $  24,818
Yield on interest earning assets       4.98%          4.99%
Average interest bearing liabilities $ 914,831     $  922,200
Interest expense                     $ 3,267       $  3,685
Cost of interest bearing liabilities   0.72%          0.81%
Net interest income                  $ 21,067      $  20,972
Net interest income - tax-equivalent $ 21,234      $  21,133
Interest spread                        4.26%          4.18%
Net interest margin                    4.32%          4.25%

Provision for Loan Losses

The Company did not have a provision for loan losses in 2013 or in the first
and second quarters of 2014 with respect to either its non-covered loan
portfolio or its FDIC covered loan portfolio. For the non-covered loan
portfolio, this was the direct result of continued improvement in loan
quality. The Company's level of classified and "impaired" loans continues to
remain low, as discussed below.

Noninterest Income

Noninterest income was $970,000 for the second quarter of 2014 compared with
$1.3 million for the first quarter of 2014. The decline in noninterest income
quarter over quarter was the direct result of a reduction in securities
gains. Gains on securities totaled $24,000 during the second quarter of 2014,
a $331,000 decline from $355,000 in gains in the first quarter of 2014.
Service charge income improved $72,000, or 14.7%, from the first quarter of
2014 while other operating income and gains on the sales of loans declined
$52,000 and $21,000, respectively. $39,000 of the decline in other operating
income was the result of a gain taken on the sale of a covered OREO property
during the quarter. This amount represents the 80% reimbursement from the
FDIC, while the gain is shown net of OREO expenses in the noninterest expense
section of the income statement.

Noninterest income declined $368,000, or 27.5%, from the second quarter of
2013 to the second quarter of 2014. Service charge income declined $140,000,
or 20.0%, over the same time frame to equal $561,000 for the second quarter.
This decline was driven by the reduction of service charge income from the
Georgia branches, which were sold during the fourth quarter of 2013.
Securities gains in the second quarter of 2013 were $130,000 versus the
$24,000 for the second quarter of 2014. Other operating income declined
$143,000, or 46.4%, from the quarter ended June 30, 2013 to June 30, 2014.
Lower mortgage fee income coupled with the OREO sale noted above were the key
components of this decline.

For the six months ended June 30, 2014, noninterest income totaled $2.3
million, which was a $393,000, or 14.8%, decline from the first six months of
2013. The decline year over year was due to a $314,000 reduction in service
charge income related to the sale of the Georgia branches.

Noninterest Expenses

Noninterest expenses totaled $9.4 million for the three months ended June 30,
2014 and $9.2 million for the quarter ended March 31, 2014, an increase of
$182,000, or 2.0%. Salaries and benefits increased $105,000, or 2.7%, from
the first quarter of 2014 to equal $4.0 million for the second quarter of
2014. While other operating expenses increased during the second quarter of
2014 from the first quarter by $215,000, this was mostly offset by a reduction
in other real estate expenses of $183,000 or 64.7%. Several components of
other operating expenses increased in the second quarter of 2014 versus the
first quarter of 2014, including increases to advertising expenses of $34,000
or 41.5%, audit fees of $53,000 or 63.1%, credit expenses of $42,000 or 42.5%,
and supplies of $57,000 or 63.3%. Excluding audit fees and credit expenses,
the majority of these increases was attributable to the relocation to the new
corporate headquarters in April of this year and the addition of a branch
location in Annapolis, Maryland. Lower OREO expenses for the quarter were
the result of new rental income received on a property in the second quarter
coupled with a lower level of write-downs in the second quarter.

Noninterest expenses declined $399,000, or 4.1%, when comparing the second
quarter of 2013 to the same period in 2014. The single largest decline was
evidenced in OREO expenses. These expenses declined from $502,000 in the
second quarter of 2013 to $100,000 in the second quarter of 2014. The Company
benefitted from an $114,000, or 7.2%, decline in the indemnification asset
amortization from the second quarter of 2013 to the second quarter of 2014.
The two most significant increases in noninterest expenses evidenced from the
second quarter of 2013 to the second quarter of 2014 were in other operating
expenses and salaries and wages, which partially mitigated the improvement
noted above. Salaries and wages increased $127,000, or 3.3%, from the second
quarter of 2013 to the second quarter of 2014. This is the result of
increased staffing for the wholesale mortgage operation coupled with normal
salary raises year over year. Other operating expenses increased $226,000, or
17.6%, over the same time frame. Bank franchise tax, credit expenses and
external audit expenses increased $71,000, $79,000, and $54,000,
respectively. These expenses collectively resulted in the majority of the
increase in other operating expenses.

Noninterest expenses declined $933,000, or 4.8%, when comparing the first six
months 2013 and 2014. The majority of the decline was evidenced in four
categories: OREO expenses, data processing fees, amortization of intangibles,
and FDIC indemnification asset amortization. OREO expenses declined $856,000,
or 69.1%, during the first six months of 2014 versus the same time frame in
2013, as smaller write-downs were recognized in the first half of 2014. Data
processing fees were $131,000 lower in the first half of 2014 compared with
the first six months of 2013, and intangible amortization was $177,000, or
15.6%, lower over the same time frame. These expense reductions were due to
the sale of the Georgia branches. Lastly, the Company benefitted from
$117,000, or 3.8%, in decline in indemnification asset amortization for the
first half of 2014 versus the first half of 2013.

Income Taxes

Income tax expense was $649,000 for the three months ended June 30, 2014,
compared with income tax expense of $709,000 and $673,000 for the first
quarter of 2014 and second quarter of 2013, respectively. Income tax expense
was $1.4 million versus $1.2 million for the first six months of 2014 and
2013, respectively.

FINANCIAL CONDITION

During the first six months of 2014, total assets increased $25.3 million to
$1.114 billion at June 30, 2014. Total assets declined $9.7 million, or 0.9%,
over the past year from $1.125 billion at June 30, 2013. Total loans were
$698.3million at June 30, 2014, increasing $28.8 million since December 31,
2013 and $31.0 million since June 30, 2013.Total non-covered loans were
$632.3 million at June 30, 2014 and $596.1 million at December 31, 2013. The
June 30, 2014 totals include $5.2 million of loans formerly categorized under
the FDIC loss share arrangement now categorized as non-covered loans (the "PCI
loans). While these loans no longer have FDIC loss guaranties, they are
subject to SOP 03-3 accounting rules; thus, they will not receive
consideration under the loan loss reserve under the normal non-covered
portfolio. Excluding the $5.2 million mentioned above, non-covered loans
would have increased $33.6 million, or 5.7%, in the second quarter of 2014 and
$31.0 million, or 5.2%, since December 31, 2013.

The majority of the loan growth as evidenced by the chart below has been in
the commercial real estate category. Commercial real estate loans grew $28.0
million, or 11.3%, since year end.

The following table shows the composition of the Company's non-covered loan
portfolio at June 30, 2014, December 31, 2013, and June 30, 2013.

NON-COVERED LOANS
(Dollars in           June 30, 2014      December 31, 2013  June 30, 2013
thousands)
                                 % of               % of               % of
                      Amount     Non-    Amount     Non-    Amount     Non-
                                 Covered            Covered            Covered
                                 Loans              Loans              Loans
Mortgage loans on
real estate:
  Residential 1-4     $ 156,173  24.69%  $ 144,382  24.21%  $ 141,292  24.03%
  family
  Commercial            275,286  43.52%    247,284  41.47%    244,839  41.65%
  Construction and      59,385   9.39%     55,278   9.27%     61,333   10.43%
  land development
  Second mortgages      6,459    1.02%     6,854    1.15%     7,002    1.19%
  Multifamily           33,898   5.36%     35,774   6.00%     37,587   6.39%
  Agriculture           8,127    1.28%     9,565    1.60%     8,977    1.53%
  Total real estate     539,328  85.26%    499,137  83.70%    501,030  85.23%
  loans
Commercial loans        86,446   13.67%    90,142   15.12%    79,279   13.49%
Consumer installment    5,379    0.85%     5,623    0.94%     6,070    1.03%
loans
All other loans         1,390    0.22%     1,435    0.24%     1,482    0.25%
  Gross loans           632,543  100.00%   596,337  100.00%   587,861  100.00%
Allowance for loan      (10,254)           (10,444)           (11,523)
losses
Net unearned
income/unamortized
premium
  on loans              (200)              (164)              (104)
Non-covered loans,
net of unearned       $ 622,089          $ 585,729          $ 575,934
income

The Company's securities portfolio, excluding equity securities, declined $1.4
million, or 0.5%, from $294.3 million at December 31, 2013, to $293.0 million
at June 30, 2014. Realized gains of $379,000 occurred during the first six
months of 2014 through sales and call activity. During the first quarter of
2014, the SBA floating rate portion of the investment portfolio evidenced some
unforeseen pre-payment activity, which resulted in the acceleration of
unamortized premiums paid on these securities. Subsequently, management sold
additional SBA floating rate securities to mitigate the pre-payment anomaly
and sold some longer-term municipal securities. This was a strategic decision
to mitigate duration risk in the municipal portfolio. During the second
quarter, management opted to diversify some of the portfolio, purchasing
AAA-rated household name corporate bonds.

The Company had cash and cash equivalents of $24.9 million and $23.8 million
at June 30, 2014 and December 31, 2013, respectively. Cash and cash
equivalents were $25.3 million at June 30, 2013. There were $2.5 million of
federal funds purchased at June 30, 2014 and none at December 31, 2013, while
there were no securities sold under agreement to repurchase (repos) at June
30, 2014 versus $6.0 million in repos at December 31, 2013.

The following table shows the composition of the Company's securities
portfolio, excluding equity securities, at June 30, 2014, December 31, 2013
and June 30, 2013.

SECURITIES
PORTFOLIO
(Dollars
in           June 30, 2014         December 31, 2013      June 30, 2013
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 $ 87,032      85,910  $ 99,789     $ 98,987  $ 113,390    $ 113,205
agencies
U.S.
Government   -           -         487          486       -            -
sponsored
agencies
State,
county and   136,708     137,286   138,884      134,096   135,227      133,435
municipal
Corporate
and other    12,104      12,092    6,369        6,349     6,963        7,002
bonds
Mortgage
backed
securities   2,598       2,519     3,608        3,439     11,810       11,887
- U.S.
Government
agencies
Mortgage
backed
securities
- U.S.       29,004      28,966    22,631       22,420    12,580       12,596
Government
sponsored
agencies
 Total
securities $ 267,446     266,773 $ 271,768    $ 265,777 $ 279,970    $ 278,125
available
for sale
             June 30, 2014         December 31, 2013      June 30, 2013
             Amortized  Fair     Amortized   Fair     Amortized   Fair
             Cost        Value     Cost         Value     Cost         Value
Securities
Held to
Maturity
State,
county and $ 10,364      11,078  $ 9,385      $ 10,103  $ 11,812     $ 12,602
municipal
Mortgage
backed
securities   5,504       5,828     6,604        7,002     7,832        8,313
- U.S.
Government
agencies
Mortgage
backed
securities   10,315      10,876    12,574       13,200    16,103       16,878
- U.S.
Government
agencies
 Total
securities $ 26,183      27,782  $ 28,563     $ 30,305  $ 35,747     $ 37,793
held to
maturity

Interest bearing deposits at March 31, 2014 were $836.1 million, an increase
of $13.9million from December31, 2013. NOW and Savings account balances
increased $12.4 million and $2.2 million, or 12.2% and 3.0%, respectively,
since December 31, 2013. While time deposit account balances increased only
$790,000 during the first half of 2014, the Company allowed $29.8 million in
brokered time deposits to mature. This brokered funding was used, in part, to
fund the sale of the Georgia branches, and the corresponding retail generation
was precipitated by two promotions that management ran during the first half
of 2014. This was a strategic initiative to retain core retail funding while
not hampering earnings.

FHLB advances were $76.8 million at June 30, 2014, compared with $77.1 million
at December 31, 2013 and $49.5 million at June 30, 2013. The Company
increased the level of FHLB advances due to the low cost nature of this
funding source and to assist with funding the sale of the Georgia franchise in
the fourth quarter of 2013. Long term debt totaled $10.7 million at June 30,
2014. This borrowing was entered into during April 2014, and the proceeds
were used to redeem the Company's remaining outstanding TARP preferred stock.

The following table compares the mix of interest bearing deposits for June 30,
2014, December 31, 2013 and June 30, 2013.

INTEREST BEARING DEPOSITS
(Dollars in thousands)
                             June 30, 2014   December 31, 2013   June 30, 2013
NOW                        $ 114,530       $ 102,111           $ 135,765
MMDA                         92,602          94,170              110,976
Savings                      77,381          75,159              83,562
Time deposits less than      243,509         235,482             279,972
$100,000
Time deposits $100,000 and   308,050         315,287             253,937
over
 Total interest bearing  $ 836,072       $ 822,209           $ 864,212
deposits

Shareholders' equity was $102.1 million at June 30, 2014 and $106.7 million at
December 31, 2013. While $11.5 million in equity was redeemed with respect to
the TARP preferred stock and the associated warrant, shareholders' equity
declined only $4.6 million or 4.3%. The partial offset was earnings retention
as well as a $3.5 million improvement in other comprehensive income related to
the unrealized gains and losses in the investment portfolio.

Asset Quality – non-covered assets

Nonaccrual loans were $11.2 million at June 30, 2014, declining from $12.1
million at December 31, 2013 and $15.6 million at June 30, 2013. The $922,000
reduction in nonaccrual loans since December 31, 2013 was the net result of
$2.1 million in additions to nonaccrual loans and $3.0 million in reductions.
With respect to the reductions to nonaccrual loans, $989,000 were returned to
accruing status, $529,000 were charged off, $634,000 was moved to OREO, and
$823,000 were the result of payments to existing credits.

Total non-performing assets totaled $17.6 million at June 30, 2014, declining
$776,000 since December 31, 2013. The decline in non-performing assets was
partially offset by a $146,000 increase in non-covered OREO balances from year
end 2013. There were net charge-offs of $254,000 in the second quarter of
2014 compared with $34,000 in the first quarter of 2014 and $735,000 in the
second quarter of 2013.

The allowance for loan losses equaled 90.8% of non-covered nonaccrual loans at
June 30, 2014 compared with 82.3% at March 31, 2014 and 73.7% at June 30,
2013. The ratio of the allowance for loan losses to total nonperforming assets
was 57.8% at June 30, 2014, compared with 57.6% at March 31, 2014 and 49.6% at
June 30, 2013. The ratio of nonperforming assets to loans and other real
estate owned continued to decline. The ratio was 2.77% at June 30, 2014
versus 3.02% at March 31, 2014, and 3.90% at June 30, 2013.

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

CREDIT QUALITY
(Dollars in thousands)     2014               2013
                           Second   First     Fourth    Third      Second
                           Quarter  Quarter   Quarter   Quarter    Quarter
Allowance for loan losses:
Beginning of period        $ 10,410 $ 10,444  $ 10,653  $ 11,523   $ 12,258
Provision for loan losses    -        -         -         -          -
Charge-offs                  (446)    (152)     (263)     (1,018)    (1,302)
Recoveries                   192      118       54        148        567
Net (charge-offs) recovery   (254)    (34)      (209)     (870)      (735)
End of period              $ 10,156 $ 10,410  $ 10,444  $ 10,653   $ 11,523

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)  2014               2013
                        June 30  March 31  December 31  September 30  June 30
Non-accruing loans      $ 11,183 $ 12,645  $   12,105   $   13,044    $ 15,644
Loans past due over 90
days and accruing         -        -           -            -           -
interest
Total nonperforming       11,183   12,645      12,105       13,044      15,644
non-covered loans
Other real estate owned   6,390    5,439       6,244        8,496       7,593
non-covered
Total nonperforming     $ 17,573 $ 18,084  $   18,349   $   21,540    $ 23,237
non-covered assets
Allowance for loan        1.62%    1.75%       1.75%        1.87%       1.96%
losses to loans
Allowance for loan
losses to nonperforming   57.79%   57.56%      56.92%       49.45%      49.59%
assets
Allowance for loan
losses to nonaccrual      90.82%   82.33%      86.28%       81.67%      73.66%
loans
Nonperforming assets to
loans and other real      2.77%    3.02%       3.05%        3.73%       3.90%
estate
Net charge-offs for
quarter to average
loans,
 annualized             0.17%    0.02%       0.14%        0.59%       0.50%

A further breakout of nonaccrual loans, excluding PCI and covered loans, at
June 30, 2014, December 31, 2013 and June 30, 2013 is below:

NON-COVERED NONACCRUAL LOANS
(Dollars in         June 30, 2014       December 31, 2013   June 30, 2013
thousands)
                             % of Non-           % of Non-           % of Non-
                    Amount   Covered    Amount   Covered    Amount   Covered
                             Loans               Loans               Loans
Mortgage loans on
real estate:
 Residential 1-4    $ 4,617  0.73%      $ 4,229  0.71%      $ 5,232  0.89%
 family
 Commercial           874    0.14%        1,382  0.23%        1,421  0.24%
 Construction and     5,337  0.85%        5,882  0.99%        8,465  1.44%
 land development
 Second mortgages     223    0.03%        225    0.04%        129    0.02%
 Agriculture          -      -            205    0.03%        223    0.04%
 Total real estate    11,051 1.75%        11,923 2.00%        15,470 2.63%
 loans
Commercial loans      36     0.01%        127    0.02%        114    0.02%
Consumer              96     0.02%        55     0.01%        60     0.01%
installment loans
All other loans       -      -            -      -            -      -
 Gross loans      $   11,183 1.78%      $ 12,105 2.03%      $ 15,644 2.66%

Capital Requirements

The Company's ratio oftotal risk-based capital was 14.7% at June 30, 2014
compared with 16.8% at December 31, 2013. The tier 1 risk-based capital ratio
was 13.5% at June 30, 2014 and 15.6% at December 31, 2013. The Company's tier
1 leverage ratio was 9.1% at June 30, 2014 and 9.5% at December 31, 2013.All
capital ratios exceed regulatory minimums to be considered well capitalized.
The decline in the ratios reflects the repayment of the TARP investment and a
reduction this quarter in 0% risk-weighted assets.

Earnings Conference Call and Webcast

The Company will host a conference call for the financial community on Friday,
July 25, 2014, at 10:00 a.m. Eastern Time to discuss the second quarter and
year-to-date 2014 financial results. The public is invited to listen to this
conference call by dialing877-870-4263 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 12:00 noon Eastern Time
on July 25, 2014, until 9:00 a.m. Eastern Time on August 4, 2014. The replay
will be available by dialing 877-344-7529 and entering access code 10049564
or through the internet by accessing the "Corporate Overview – Corporate
Profile" page of the Company's internet site at www.cbtrustcorp.com.

About Community Bankers Trust Corporation and Essex Bank

Community Bankers Trust Corporation is the holding company for Essex Bank, a
Virginia state bank with 21 full-service offices, 14 of which are in Virginia
and seven of which are in Maryland. The Bank also operates two loan
production offices in Virginia.

Additional information on the Bank is available on the Bank's website at
www.essexbank.com. For information on Community Bankers Trust Corporation,
please visit its website 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 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 performance of vendors or other parties with which
the Company does business; time and costs associated with de novo branching,
acquisitions, dispositions and similar transactions; the realization of gains
and expense savings from acquisitions, dispositions and similar transactions;
assumptions and estimates that underlie the accounting for loan pools under
the shared-loss agreements; consumer profiles and spending and savings habits;
levels of fraud in the banking industry; the level of attempted cyber attacks
in the banking industry; the securities and credit markets; costs associated
with the integration of banking and other internal operations; 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 December 31, 2013 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 Balance
 Sheets
 Unaudited Condensed
 (Dollars in thousands)
                        June 30, 2014     December 31, 2013     June 30, 2013
 Assets
 Cash and due from      $   13,865        $   10,857            $  10,399
 banks
 Interest bearing bank      11,029            12,978               14,854
 deposits
 Total cash and cash        24,894            23,835               25,253
 equivalents
 Securities available
 for sale, at fair          266,773           265,777              278,125
 value
 Securities held to         26,183            28,563               35,747
 maturity
 Equity securities,         7,854             8,358                7,236
 restricted, at cost
 Total securities           300,810           302,698              321,108
 Loans held for sale        -                 100                  5,653
 Loans not covered by
 FDIC shared-loss           632,343           596,173              587,757
 agreements
 Loans covered by FDIC      65,932            73,275               79,476
 shared-loss agreements
 Allowance for loan         (10,254)          (10,444)             (11,523)
 losses (non-covered)
 Allowance for loan         (386)             (484)                (484)
 losses (covered)
 Net loans                  687,635           658,520              655,226
 Bank premises and          25,772            27,872               33,318
 equipment
 Bank premises and
 equipment held for         3,237             -                    -
 sale
 Other real estate          6,390             6,244                7,593
 owned, non-covered
 Other real estate          2,967             2,692                2,411
 owned, covered by FDIC
 FDIC receivable            594               368                  878
 Bank owned life            21,118            20,795               20,449
 insurance
 Core deposit               5,667             6,621                9,166
 intangibles, net
 FDIC indemnification       22,219            25,409               29,166
 asset
 Other assets               13,516            14,378               14,346
 Total assets           $   1,114,819     $   1,089,532         $  1,124,567
 Liabilities
 Deposits:
 Noninterest bearing        78,744            70,132               88,696
 Interest bearing           836,072           822,209              864,212
 Total deposits             914,816           892,341              952,908
 Federal funds
 purchased and
 securities sold under      2,540             6,000                1,000
 agreements
 to repurchase
 Federal Home Loan Bank     76,766            77,125               49,479
 advances
 Long term debt             10,680
 Trust preferred            4,124             4,124                4,124
 capital notes
 Other liabilities          3,804             3,283                4,238
 Total liabilities          1,012,730         982,873              1,011,749
 Shareholders' Equity
 Preferred stock
 (5,000,000 shares
 authorized $0.01 par
 value; 0, 10,680 and       -                 10,680               17,680
 17,680 shares issued
 and outstanding,
 respectively)
 Discount on preferred      -                 -                    (117)
 stock
 Warrants on preferred      -                 1,037                1,037
 stock
 Common stock
 (200,000,000 shares
 authorized $0.01 par
 value; 21,750,841,
 21,709,096,                218               217                  217
 21,693,059, shares
 issued and
 outstanding,
 respectively)
 Additional paid in         145,096           144,656              144,532
 capital
 Accumulated deficit        (42,625)          (45,822)             (48,237)
 Accumulated other          (600)             (4,109)              (2,294)
 comprehensive loss
 Total shareholders'    $   102,089       $   106,659           $  112,818
 equity
 Total liabilities and  $   1,114,819     $   1,089,532         $  1,124,567
 shareholders' equity





Consolidated
Statements of
Operations
Unaudited
Condensed
(Dollars in                   Three months ended              Three months
thousands)                                                    ended
                     YTD      June 30,   March    YTD      June      March
                     2014    2014        31,      2013      30,       31,
                                          2014                2013       2013
Interest and
dividend income
Interest and fees  $ 14,342 $ 7,291     $ 7,051  $  15,133 $  7,622  $  7,511
on loans
Interest and fees
on FDIC covered      6,225    3,264       2,961     5,404     2,745     2,659
loans
Interest on          -        -           -         3         1         2
federal funds sold
Interest on
deposits in other    35       22          13        22        14        8
banks
Investments          3,408    1,710       1,698     3,783     1,945     1,838
(taxable)
Investments          324      168         156       312       164       148
(nontaxable)
Total interest       24,334   12,455      11,879    24,657    12,491    12,166
income
Interest expense
Interest on          2,861    1,453       1,408     3,301     1,600     1,701
deposits
Interest on
short-term           2        1           1         3         2         1
borrowings
Interest on other    404      243         161       381       189       192
borrowed funds
Total interest       3,267    1,697       1,570     3,685     1,791     1,894
expense
Net interest         21,067   10,758      10,309    20,972    10,700    10,272
income
Provision for loan   -        -           -         -         -         -
losses
Net interest
income after         21,067   10,758      10,309    20,972    10,700    10,272
provision for loan
losses
Noninterest income
Service charges on   1,050    561         489       1,364     701       663
deposit accounts
Gain on sale of      379      24          355       408       130       278
securities, net
Gain on sale of      75       27          48        -         -         -
other loans, net
Income on bank
owned life           385      193         192       348       199       149
insurance
Other                382      165         217       544       308       236
Total noninterest    2,271    970         1,301     2,664     1,338     1,326
income
Noninterest
expense
Salaries and         7,951    4,028       3,923     7,894     3,901     3,993
employee benefits
Occupancy expenses   1,335    687         648       1,380     717       663
Equipment expenses   479      260         219       514       247       267
Legal fees           57       29          28        51        38        13
Professional fees    242      135         107       189       139       50
FDIC assessment      401      194         207       390       223       167
Data processing      957      463         494       1,088     551       537
fees
FDIC
indemnification      2,976    1,478       1,498     3,093     1,592     1,501
asset amortization
Amortization of      954      477         477       1,131     566       565
intangibles
Other real estate    383      100         283       1,239     502       737
expenses
Other operating      2,801    1,508       1,293     2,500     1,282     1,218
expenses
Total noninterest    18,536   9,359       9,177     19,469    9,758     9,711
expense
Net income before    4,802    2,369       2,433     4,167     2,280     1,887
income taxes
Income tax expense   1,358    649         709       1,236     673       563
Net income           3,444    1,720       1,724     2,931     1,607     1,324
Dividends on         247      182         65        442       221       221
preferred stock
Accretion of
discount on          -        -           -         117       59        58
preferred stock
Net income
available to
common
shareholders       $ 3,197  $ 1,538     $ 1,659  $  2,372  $  1,327  $  1,045





Income Statement Trend
Analysis
Unaudited
(Dollars in thousands)     Three months ended
                           June     March    December   September   June
                           30,     31,     31,       30,        30,
                           2014    2014    2013      2013       2013
Interest and dividend
income
Interest and fees on     $ 7,291  $ 7,051  $ 7,050    $ 7,513     $ 7,622
loans
Interest and fees on       3,264    2,961    2,994      3,538       2,745
FDIC covered loans
Interest on federal        0        -        -          -           1
funds sold
Interest on deposits in    22       13       25         11          14
other banks
Investments (taxable)      1,710    1,698    1,976      1,934       1,945
Investments (nontaxable)   168      156      172        175         164
 Total interest income    12,455   11,879   12,217     13,171      12,491
Interest expense
Interest on deposits       1,453    1,408    1,501      1,568       1,600
Interest on short-term     1        1        -          1           2
borrowings
Interest on other          243      161      143        180         189
borrowed funds
 Total interest expense   1,697    1,570    1,644      1,749       1,791
 Net interest income      10,758   10,309   10,573     11,422      10,700
Provision for loan         -        -        -          -           -
losses
Net interest income
after provision for loan   10,758   10,309   10,573     11,422      10,700
losses
Noninterest income
Service charges on         561      489      634        741         701
deposit accounts
Gain on sale of            24       355      72         38          130
securities, net
Gain/(loss) on sale of     27       48       255        (614)       -
other loans, net
Income on bank owned       193      192      200        199         199
life insurance
Other                      165      217      306        229         308
 Total noninterest        970      1,301    1,467      593         1,338
income
Noninterest expense
Salaries and employee      4,028    3,923    3,991      4,096       3,901
benefits
Occupancy expenses         687      648      647        690         717
Equipment expenses         260      219      248        276         247
Legal fees                 29       28       20         24          38
Professional fees          135      107      49         52          139
FDIC assessment            194      207      228        225         223
Data processing fees       463      494      505        485         551
FDIC indemnification       1,478    1,498    1,640      1,716       1,592
asset amortization
Amortization of            477      477      506        565         566
intangibles
Other real estate          100      283      828        (33)        502
expenses
Other operating expenses   1,508    1,293    1,724      1,337       1,282
 Total noninterest        9,359    9,177    10,386     9,433       9,758
expense
Net income before income   2,369    2,433    1,654      2,582       2,280
taxes
Income tax expense         649      709      461        800         673
 Net income               1,720    1,724    1,193      1,782       1,607
Dividends on preferred     182      65       235        208         221
stock
Accretion of discount on   -        -        44         73          59
preferred stock
Net income available to
common
shareholders             $ 1,538  $ 1,659  $ 914      $ 1,501     $ 1,327





COMMUNITY BANKERS TRUST
CORPORATION
NET INTEREST
MARGIN ANALYSIS
AVERAGE BALANCE
SHEETS
(Dollars in
thousands)
                    Three months ended June 30,     Three months ended June 30,
                    2014                            2013
                                          Average                         Average
                    Average     Interest  Rates     Average     Interest  Rates
                    Balance     Income /  Earned    Balance     Income /  Earned
                    Sheet       Expense   /         Sheet       Expense   /
                                          Paid                            Paid
ASSETS:
 Loans
 non-covered,     $ 611,065   $ 7,291     4.79%   $ 582,940   $ 7,622     5.24%
 including fees
 FDIC covered
 loans,including   66,722      3,264     19.62%    82,177      2,745     13.40%
 fees
  Total loans     677,787     10,555    6.25%     665,117     10,367    6.25%
 Interest bearing   28,795      22        0.31%     20,407      14        0.27%
 bank balances
 Federal funds      1,379       0         0.10%     1,951       1         0.11%
 sold
 Securities         269,566     1,710     2.54%     293,211     1,945     2.65%
 (taxable)
 Securities (tax    22,436      255       4.53%     20,235      248       4.91%
 exempt)(1)
  Total earning   999,963     12,542    5.03%     1,000,921   12,575    5.04%
 assets
 Allowance for      (10,802)                        (12,919)
 loan losses
 Non-earning        117,948                         129,804
 assets
  Total assets  $ 1,107,109                     $ 1,117,806
LIABILITIES AND
 SHAREHOLDERS'
 EQUITY
 Demand -         $ 199,829   $ 148       0.30%   $ 242,346   $ 190       0.31%
 interest bearing
 Savings            77,057      66        0.34%     81,627      70        0.34%
 Time deposits      558,797     1,239     0.89%     536,115     1,340     1.00%
  Total
 interest bearing   835,683     1,453     0.70%     860,088     1,600     0.75%
 deposits
 Short-term         73          1         0.61%     1,145       2         0.77%
 borrowings
 FHLB and other     81,056      162       0.80%     53,765      189       1.41%
 borrowings
 Long- term debt    8,098       81        4.03%
  Total
 interest bearing   924,910     1,697     0.74%     914,998     1,791     0.79%
 liabilities
 Noninterest        73,738                          81,056
 bearing deposits
 Other              4,526                           3,936
 liabilities
  Total           1,003,174                       999,990
 liabilities
 Shareholders'      103,935                         117,816
 equity
  Total
 liabilities and
  shareholders' $ 1,107,109                     $ 1,117,806
 equity
 Net interest                 $ 10,845                        $ 10,784
 earnings
 Interest spread                          4.29%                           4.25%
 Net interest                             4.35%                           4.32%
 margin
(1) Income and yields are reported on a
tax-equivalent basis assuming a federal tax rate
of 34%.





COMMUNITY BANKERS TRUST
CORPORATION
NET INTEREST
MARGIN ANALYSIS
AVERAGE BALANCE
SHEETS
(Dollars in
thousands)
                    Six months ended June 30, 2014    Six months ended June 30,
                                                      2013
                    Average     Interest   Average   Average     Interest  Average
                    Balance     Income /    Rates     Balance     Income /  Rates
                    Sheet       Expense     Earned    Sheet       Expense   Earned
                                            / Paid                          / Paid
ASSETS:
 Loans
 non-covered,     $ 603,381   $ 14,342      4.79%   $ 581,821   $ 15,133    5.25%
 including fees
 FDIC covered
 loans,including   69,731      6,225       18.00%    81,951      5,404     13.30%
 fees
  Total loans     673,112     20,567      6.16%     663,772     20,537    6.24%
 Interest bearing   22,586      35          0.31%     18,416      22        0.24%
 bank balances
 Federal funds      693         0           0.00%     5,859       3         0.10%
 sold
 Securities         274,404     3,408       2.48%     296,587     3,783     2.55%
 (taxable)
 Securities (tax    21,244      491         4.61%     19,075      473       4.96%
 exempt)(1)
  Total earning   992,039     24,501      4.98%     1,003,709   24,818    4.99%
 assets
 Allowance for      (10,878)                          (13,193)
 loan losses
 Non-earning        115,838                           131,084
 assets
  Total assets  $ 1,096,999                       $ 1,121,600
LIABILITIES AND
 SHAREHOLDERS'
 EQUITY
 Demand -         $ 195,341   $ 291         0.30%   $ 244,021   $ 380       0.31%
 interest bearing
 Savings            76,333      132         0.35%     80,011      131       0.33%
 Time deposits      557,340     2,438       0.88%     543,578     2,790     1.03%
  Total
 interest bearing   829,014     2,861       0.70%     867,610     3,301     0.77%
 deposits
 Short-term         601         2           0.52%     739         3         0.76%
 borrowings
 FHLB and other     81,145      323         0.80%     53,851      381       1.43%
 borrowings
 Long- term debt    4,071       81          4.03%     -           -
  Total
 interest bearing   914,831     3,267       0.72%     922,200     3,685     0.81%
 liabilities
 Noninterest        71,180                            78,319
 bearing deposits
 Other              4,225                             4,026
 liabilities
  Total           990,236                           1,004,545
 liabilities
 Shareholders'      106,763                           117,055
 equity
  Total
 liabilities and
  shareholders' $ 1,096,999                       $ 1,121,600
 equity
 Net interest                 $ 21,234                          $ 21,133
 earnings
 Interest spread                            4.26%                           4.18%
 Net interest                               4.32%                           4.25%
 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.



               June 30, 2014    March 31,2014  December 31,    June 30, 2013
                                                2013
Common
Tangible Book
Value
Total          $             $            $            $   
shareholder's  102,089,000      110,647,000     106,659,000     112,818,000
equity
Preferred      -                11,717,000      11,717,000      18,600,000
stock (net)
Core deposit
intangible     5,667,000        6,144,000       6,621,000       9,166,000
(net)
Common
tangible book  96,422,000       92,786,000      88,321,000      85,052,000
value
Shares         21,750,841       21,720,221      21,709,096      21,693,059
outstanding
Common
tangible book  $         $   4.27      $         $      
value per        4.43                           4.07        3.92
share
Stock Price    $         $4.02           $         $      
                 4.38                           3.76        3.62
Price/common   98.9%            94.1%           92.4%           92.4%
tangible book
Common
tangible
book/common
tangible
assets
 Total     $               $              $              $ 
assets         1,114,819,000   1,101,702,000  1,089,532,000  1,124,567,000
 Preferred -                11,717,000      11,717,000      18,600,000
stock (net)
 Core
deposit        5,667,000        6,144,000       6,621,000       9,166,000
intangible
Common
tangible       1,109,152,000    1,083,841,000   1,077,194,000   1,096,801,000
assets
Common         96,422,000       92,786,000      88,321,000      85,052,000
tangible book
Common
tangible
equity to      8.69%            8.56%           8.20%           7.75%
common
tangible
assets



Logo - http://photos.prnewswire.com/prnh/20140129/PH54398LOGO

SOURCE Community Bankers Trust Corporation

Website: http://www.cbtrustcorp.com
Contact: Bruce E. Thomas, Executive Vice President/Chief Financial Officer,
Community Bankers Trust Corporation, 804-934-9999
 
Press spacebar to pause and continue. Press esc to stop.