Community Bankers Trust Corporation Reports Results for Third Quarter of 2016

RICHMOND, Va., Oct. 27, 2016

FINANCIAL HIGHLIGHTS

• Net income of $2.5 million is a linked quarter increase of 6.0%.
• Earnings per common share (EPS) were $0.11 for the third quarter of 2016 and were $0.33 for the first three quarters of 2016.
• Interest income increased 2.3%, or $274,000, on a linked quarter basis, 5.8%, or $684,000, for the third quarter of 2016 versus the same period in 2015 and 2.4%, or $872,000, for the nine months ended September 30, 2016 over the same period in 2015.

OPERATING HIGHLIGHTS

• The net interest margin increased from 3.75% in the third quarter of 2015 to 3.82% in the third quarter of 2016.  Net interest margin was 3.82% for the nine months ended September 30, 2016 compared with 3.90% for the same period in 2015.
• Common tangible book value increased $0.60, or 13.2%, per share from September 30, 2015 to September 30, 2016 and was $5.16 at period end.
• Gross loans, excluding purchase credit impaired (PCI) loans, grew $26.8 million, or 3.4%, during the third quarter of 2016 and $118.8 million, or 17.1%, since September 30, 2015.
• Commercial loans grew $10.8 million, or 10.0%, during the third quarter of 2016.
• Noninterest bearing deposits have grown $33.1 million, or 34.4%, during 2016.

MANAGEMENT COMMENTS

Rex L. Smith, III, President and Chief Executive Officer, stated, "The third quarter continues the Bank's exciting progressive trend for 2016."

Noting that the Bank's growth in 2016 has been organic, Smith added, "Key results, such as positive net interest margin growth and double-digit percentage growth in both loans and noninterest bearing deposits, demonstrate the Bank's success at gaining market share from our competition across our footprint."

Smith concluded, "The results of this and the prior two quarters of 2016 prove that our strategy to terminate our FDIC loss-share agreements one year ago, along with constructive new branch growth, and highly motivated and committed associates at all levels, have added significant value now and point the way to success in the future."