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  
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