News Spotlight: Community Bankers Trust Corporation (NASDAQ:ESXB)

Community Bankers Trust Corporation (NASDAQ:ESXB) changed -3.27% to recent value of $9.16. The stock transacted 16899 shares during most recent day however it has an average volume of 28.92K shares. It spotted trading -6.05% off 52-week high price. On the other end, the stock has been noted 28.83% away from the low price over the last 52-weeks.

On Jan. 24, 2020, Community Bankers Trust Corporation (NASDAQ:ESXB) the holding company for Essex Bank (the Bank), declared results for the fourth quarter and year ended December 31, 2019.

Income Statement- Three Months ended December 31, 2019 compared with Three Months ended September 30, 2019

  • Net income of $4.0 million for the fourth quarter of 2019 compares with third quarter 2019 net income of $4.6 million.
  • Third quarter net income exceeded fourth quarter net income by $568,000 as the third quarter was boosted by a $1.1 million payoff of a purchased credit impaired (PCI) loan with no carrying value.
  • Loans grew $23.8 million, or 2.3%, during the fourth quarter of 2019, fueling interest income.
  • Low cost NOW accounts grew $22.9 million, or 15.5%, during the fourth quarter of 2019.
  • There was a provision for loan losses of $200,000 recognized in the fourth quarter of 2019 as a result of robust loan growth.
  • Interest on deposits declined $183,000, or 4.9%, on a linked quarter basis.
  • Noninterest expenses declined $562,000, or 6.1%, on a linked quarter basis.
  • Net interest margin was 3.74% in the fourth quarter of 2019 and reflected a reduction in the cost of interest bearing liabilities from 1.49% in the third quarter to 1.43% in the fourth quarter of 2019.
  • Return on average assets, annualized, was 1.14% and return on average equity, annualized, was 10.42% in the fourth quarter.

Income Statement- Year ended December 31, 2019 compared with Year ended December 31, 2018

  • Net income of $15.7 million for the year 2019 is an increase of $2.0 million, or 14.7%.
  • Interest and dividend income of $65.4 million is an increase of $6.2 million, or 10.5%.
  • Interest and fees on loans increased $5.3 million, or 11.4%.
  • Net interest income of $50.0 million for 2019 is an increase of $2.8 million, or 5.9%, over 2018.
  • Noninterest income of $5.4 million for 2019 is an increase of $891,000, or 20.0%.
  • Noninterest expenses increased by $852,000, or 2.4%.
  • Return on average assets was 1.11% and return on average equity was 10.63% for 2019.

ESXB has an operating margin of 76.60% while its profit margin remained 23.20% for the last 12 months. Its earnings per share (EPS) expected to touch remained 27.60% for this year.

The company has 21.86M of outstanding shares and 21.54M shares were floated in the market.  The price moved ahead of 1.06% from the mean of 20 days, 2.93% from mean of 50 days SMA and performed 11.87% from mean of 200 days price. Company’s performance for the week was -3.58%, 4.21% for month and YTD performance remained 3.15%.

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