Community Bankers Trust Corporation Announces Results of Annual Meeting of Stockholders and Conversion of Georgia Operations

(BUSINESS WIRE)--Community Bankers Trust Corporation, the holding company for Essex Bank (the “Company”) (NYSE Amex:BTC), announced that the Company held its annual meeting of stockholders on June 18, 2009. The annual meeting was the first meeting of stockholders since the Company merged with each of BOE Financial Services of Virginia, Inc. and TransCommunity Financial Corporation in May 2008. A copy of the materials that management presented to the Company’s stockholders at the meeting is publicly available on the “investor information” page of the Company’s internet web site at www.cbtrustcorp.com.

The Company also announced that its stockholders approved all of the proposals that it presented at the annual meeting. These proposals included the approval of an amendment to the Company’s certificate of incorporation to increase the number of authorized shares of common stock from 50,000,000 to 200,000,000 and the approval of the Company’s 2009 Stock Incentive Plan. Other proposals were the election of P. Emerson Hughes, Jr., George M. Longest, Jr., John C. Watkins and Robin T. Williams to serve as directors for terms of three years, the approval of an advisory proposal relating to the Company’s executive compensation and the ratification of the appointment of the firm of Elliott Davis, LLC as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2009.

George M. Longest, Jr., the Company’s President and Chief Executive Officer, stated, “We very much appreciate the support from all of our stockholders over the past year. Our industry has seen many challenges in the past 12 months, and we expect the remainder of 2009 to be equally as challenging. We are very proud of our growth during this time and what we have accomplished in a relatively short period of time, and we remain optimistic about our Company and its future.”

The Company also announced that, in June 2009, it successfully converted its Georgia banking operations into the Essex Bank systems platform. In November 2008, Essex Bank acquired certain assets and assumed all deposit liabilities relating to four former branch offices of The Community Bank, a Georgia state-chartered bank, from the Federal Deposit Insurance Corporation, who acted as the receiver for The Community Bank after it was closed by the Georgia Department of Banking and Finance. In connection with this transaction, Essex Bank purchased the former banking premises of The Community Bank and has operated them under the “Essex Bank” name since November 2008. The conversion completes the integration of the Georgia operations into Essex Bank’s operations.

The Company expects to complete the conversion of its Maryland banking operations, which Essex Bank acquired in another FDIC-assisted transaction, in August 2009. Essex Bank has operated the seven former branch offices of Suburban Federal Savings Bank under the “Essex Bank” name since January 2009.

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, growth 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: general economic and market conditions, either nationally or locally; the interest rate environment; competitive pressures among banks and financial institutions or from companies outside the banking industry; real estate values; the quality or composition of the Company’s loan or investment portfolios; the demand for deposit, loan, and investment products and other financial services; the demand, development and acceptance of new products and services; consumer profiles and spending and savings habits; 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. 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, 2008 and other reports that the Company files with or furnishes to 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.

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Community Bankers Trust Corporation Welcomes The Community Bank, Loganville, Georgia

Community Bankers Trust Corporation Welcomes The Community Bank, Loganville, Georgia (now operating as Essex Bank, a division of Bank of Essex) into the Bank of Essex Family


Community Bankers Trust Corporation (the “Company” or “CBTC”) (AMEX:BTC) is pleased to announce that Bank of Essex (BOE), a wholly-owned, Virginia state-chartered banking subsidiary of the Company, has entered into a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC), as receiver for The Community Bank, Loganville, Georgia (TCB), providing for the assumption by BOE, effective 6:00 pm Friday, November 21, 2008, off all deposit liabilities and to purchase certain assets of TCB.

BOE is assuming approximately $600 million in deposits, approximately $250 million of which are deemed to be core deposits. BOE has agreed to pay the FDIC a premium of 1.36% on all deposits, excluding all brokered and Internet deposits. Other than loans fully secured by deposit accounts, BOE is not purchasing any loans at this time, but will be providing loan servicing to TCB’s existing loan customers. BOE has sixty days to evaluate and, at its sole option, purchase any of the TCB loans. All deposits have been fully assumed and all insured deposits maintain their current insurance coverage. The existing branches of TCB will open Monday morning as Essex Bank, a division of Bank of Essex. TCB operates four branches in the greater Atlanta, Georgia market, Loganville, Walton County, Georgia; Covington, Newton, County, Georgia; Grayson, Gwinnett County, Georgia; and Snellville, Gwinnett County, Georgia.

George M. Longest, Chief Executive Officer of CBTC and BOE said, ”Since 1926, Bank of Essex has had a proud history of operating as a core community bank, serving its local community though conservative lending and prudent balance sheet management. This year we continued this tradition with the addition of TransCommunity Bank, N.A., which was recently merged into BOE. Today, we stand solid with one of the strongest balance sheets in the industry, with capital levels well above our peers. TCB is a true community bank and has proudly served its community since 1946. It has been the premier community bank in the markets that it serves. We look forward to working with the employees of TCB in building an even stronger community banking team and serving the needs of our combined customers and the local communities in which we operate. We are excited about the opportunities that lay before us in the greater Atlanta market. Monday morning, customers of TCB, as customers of Essex Bank, will find it is business as usual with the same friendly staff and the same desire to provide full personal service and attention to our customers.”

Gary A. Simanson, Vice-Chairman of the Company, commented, “part of our strategic plan, in addition to operating a core community bank, has been to build a franchise through select acquisition opportunities and reach out to attractive markets beyond the Commonwealth of Virginia. We find the addition of TCB to our franchise to be such an opportunity. Not only are we teaming up with a true, long established community bank, in some of the highest growth markets in the Country, we are making a statement that we are open to looking at further opportunities should they arise in this market. We believe that we demonstrated the appropriate pricing discipline in approaching this transaction and anticipate that the transaction will be accretive to earnings within the first full quarter of combined operations. While there are always execution risks in any transaction, we feel that the long operating history of TCB in its local community helps limits these risks. The local culture of TCB is much like that of the Bank of Essex. Additionally, we are not taking on any credit risk in this transaction. These are interesting times in the banking industry and with our strong capital position and experienced banking team we look forward to continuing to build both a highly respected community banking franchise and long-term shareholder value. We appreciate the assistance of our regulators in consummating this transaction and will endeavor to work with them closely to see that the banking needs of the local communities will continue to be well served.”

About Community Bankers Trust Corporation.

CBTC is a well-capitalized, single-bank holding company headquartered in the greater Richmond, Virginia market, with approximately $1.3 billion in assets, $1.1 million in deposits, $500 million in loans, and $150 million in capital. It operates 13 full service banking facilities from Virginia’s Chesapeake Bay to the Shenandoah Valley under the Bank of Essex, Bank of Goochland, Bank of Powhatan, Bank of Louisa and Bank of Rockbridge brand names and four branches in the greater Atlanta, Georgia market under the Essex Bank brand name. Additional information is available on the Company’s website at www.cbtrustcorp.com. The shares of the Company are traded on the American Stock Exchange (AMEX) under the symbol “BTC”.

Forward-Looking Statement:

This release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Facts that may cause actual results to differ materially from those contemplated by such forward-looking statements include competitive pressures in the banking industry that may increase significantly; changes in the interest rate environment may reduce margins and/or the volumes and values of loans made or held as well as the value of other financial assets held; general economic conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, deterioration in credit quality and/or a reduced demand for credit or other services, changes in the legislative or regulatory environment, including changes in accounting standards, may adversely affect our business; costs or difficulties; related to the integration of the business and the businesses we have acquired may be greater than expected; expected cost savings associated with recently completed acquisitions may not be fully realized or realized within the expected time frame; our competitors may have greater financial resources and develop products that enable them to compete more successfully; changes in business conditions, changes in the securities market and changes in our local economy with regards to our market area. We assume no obligation to update information contained in this release.

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