Community Bankers Trust Corporation, the holding company for Essex Bank (the “Company”) (NYSE Amex: BTC), announced today that it anticipates issuing its 2009 earnings press release on Wednesday, March 24, 2010.
As the Company has previously disclosed, the Company is amending its 2008 Annual Report on Form 10-K and the three Quarterly Reports on Form 10-Q that it filed in 2009 to include historical financial and related information with respect to each of the Company’s predecessors, TransCommunity Financial Corporation and BOE Financial Services of Virginia, Inc. The Company is also revising these filings to enhance disclosure relating to goodwill and intangible assets, fair value measurements, FDIC-covered assets and asset quality. The amended Form 10-Q filings will include an expanded presentation of financial information relating to the Company’s acquisition of the operations of Suburban Federal Savings Bank in January 2009, due primarily to the post-transaction application of accounting rules with respect to the fair value of loans covered by FDIC shared-loss agreements. The Company expects to complete these filings by the end of the month.
Because of the work involved in completing these amended filings, the Company will file for an extension of the upcoming deadline for its 2009 Annual Report on Form 10-K. The Company expects to file the 2009 Form 10-K by March 31, 2010.
About Community Bankers Trust CorporationThe Company is the holding company for Essex Bank, a Virginia state bank with 25 full-service offices, 14 of which are in Virginia, seven of which are in Maryland and four of which are in Georgia. The Company also operates two loan production offices. Additional information is available on the Company’s website at www.cbtrustcorp.com.