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United Bankshares, Inc. (NASDAQ: UBSI) has successfully completed its acquisition of Community Bankers Trust Corporation (NASDAQ: ESXB), which has approximately $1.7 billion in assets. This merger enhances United's position as a leading regional banking entity, bringing its total assets to approximately $29 billion and expanding its presence across key markets in Virginia and Maryland. The acquisition marks United's 33rd under its current administration and positions it as the 41st largest U.S. banking company by market capitalization. Richard M. Adams, United's CEO, expressed enthusiasm for the strategic benefits of this merger.
Community Bankers Trust Corporation (NASDAQ: ESXB) has declared a special dividend of $0.0442 per share, payable on December 2, 2021, to shareholders of record by November 29, 2021. This special dividend is in addition to the quarterly dividend of $0.07, due on December 1, 2021, for shareholders recorded by November 18, 2021. The company operates Essex Bank, which has 24 full-service offices across Virginia and Maryland, enhancing shareholder value through consistent dividend policies.
Community Bankers Trust Corporation (NASDAQ: ESXB) reported a net income of $6.5 million for Q3 2021, up from $5.4 million in Q2 2021 and $4.5 million in Q3 2020. The company also noted a 2.1% increase in net interest income to $14.8 million, driven by improved asset quality and a reserve recovery of $1.250 million. Nonperforming assets dropped to $4 million, a decrease of $4.6 million year-over-year. The company is on track to merge with United Bankshares in Q4 2021, enhancing future growth prospects.
Community Bankers Trust Corporation (NASDAQ: ESXB) announced a quarterly dividend of $0.07 per share on October 27, 2021. The dividend will be payable on December 1, 2021 to shareholders of record by the close of business on November 18, 2021. The company, based in Virginia, operates Essex Bank with 24 full-service offices and additionally runs two loan production offices.
Community Bankers Trust Corporation (NASDAQ: ESXB) has announced that it will release its third quarter 2021 financial results on October 29, 2021, before market opening. A conference call is scheduled for the same day at 10:00 a.m. Eastern Time to discuss these results. Interested parties can participate by calling 866-374-8379 or via the company's website. A replay will be available from 12:00 p.m. on October 29 until 9:00 a.m. on November 19. The company operates 24 offices across Virginia and Maryland.
Community Bankers Trust Corporation (NASDAQ: ESXB) reported a net income of $5.4 million for Q2 2021, down from $6.6 million in Q1 2021 but up from $4.2 million in Q2 2020. Total assets grew by 6.7% year-to-date, reaching $1.754 billion. Net interest income increased 3.0% from the previous quarter to $14.5 million. However, loans declined by 0.9% quarter-over-quarter, while deposits rose by 3.4%. The company is preparing for a merger with United Bankshares, expected to close in Q4 2021.
Community Bankers Trust Corporation (NASDAQ: ESXB) declared a quarterly dividend of $0.07 per share, marking a $0.01 increase from the previous three quarters. The dividend is set to be paid on September 1, 2021 to shareholders on record as of August 18, 2021. This increase is a positive indication of the company's financial health and commitment to returning value to shareholders.
Community Bankers Trust Corporation (NASDAQ: ESXB) will announce its Q2 2021 financial results on July 30, 2021, before the market opens. A conference call to discuss these results will take place at 10:00 AM ET the same day, accessible via phone or their website. The company operates Essex Bank with a total of 24 offices in Virginia and Maryland, providing various banking services.
On June 3, 2021, United Bankshares (NASDAQ: UBSI) announced its merger with Community Bankers Trust (NASDAQ: ESXB), valued at approximately $303.3 million. The merger will create an entity with about $29 billion in assets, making it the 38th largest banking company in the U.S. United aims to enhance its presence in the DC Metro and expand into new markets like Baltimore and Richmond. The agreement is subject to regulatory approvals and Community Bankers Trust shareholder votes, with completion expected in Q4 2021.
Community Bankers Trust Corporation (NASDAQ: ESXB) announced a quarterly dividend of $0.06 per share for its outstanding common stock. The dividend is payable on June 1, 2021, to shareholders on record as of May 18, 2021. This announcement reflects the company's ongoing commitment to returning value to its shareholders. Community Bankers Trust is the parent company of Essex Bank, which operates 24 full-service offices in Virginia and Maryland, alongside two loan production offices.
