Community Bankers Trust Corporation (NASDAQ: ESXB) is set to release its third quarter 2020 financial results on October 30, 2020, prior to market opening. A conference call for discussing these results will occur on the same day at 10:00 a.m. Eastern Time, accessible via phone or the company website. Community Bankers Trust is the holding company for Essex Bank, which operates 24 full-service offices across Virginia and Maryland. For more details, visit www.cbtrustcorp.com.
Community Bankers Trust Corporation (NASDAQ: ESXB) has appointed Ira C. Harris to its Board of Directors and as an independent director of Essex Bank. Dr. Harris brings expertise in business management, corporate governance, and strategic decision-making from his academic role at the University of Virginia. His experience includes previous board service and financial management roles, enriching the board's capabilities. Chairman John C. Watkins expressed optimism about Dr. Harris's contributions towards enhancing shareholder value in a competitive banking landscape.
Community Bankers Trust Corporation (NASDAQ: ESXB) declared a $0.05 quarterly dividend per share for its outstanding common stock on August 6, 2020. The dividend is payable on September 1, 2020 to shareholders on record as of August 21, 2020. This announcement reflects the company's commitment to delivering shareholder value amidst its banking operations across Virginia and Maryland.
Community Bankers Trust Corporation (NASDAQ: ESXB) reported a net income of $4.2 million for Q2 2020, a significant increase from $1.4 million in Q1 2020. Loan losses provisions fell to $900,000 from $3.3 million in Q1. Deposits grew by 11.7% ($142.6 million), and total nonperforming assets decreased by $967,000, representing 0.74% of total loans. Net interest margin decreased to 3.40% from 3.68%. The bank also originated $83.5 million in PPP loans. Year-to-date net income is $5.6 million, a 20.9% decline compared to the same period in 2019.