GLEN ALLEN, Va.
Feb. 14, 2013
/PRNewswire/ -- Community Bankers Trust Corporation, the holding company for Essex Bank (the "Company") (NYSE MKT: BTC), announced today that it will pay the dividend due in
with respect to its Fixed Rate Cumulative Perpetual Preferred Stock, Series A. The Company issued the Preferred Stock to the United States Department of the Treasury in connection with the Company's participation in the Treasury's TARP Capital Purchase Program in December 2008. The Company will make the payment, in the amount of
February 15, 2013
The total outstanding amount of the Company's TARP investment is
. Under the terms of the Preferred Stock, the Company is required to pay dividends on a quarterly basis at a rate of 5% per year on such amount through the
payment. After the
payment, the dividend rate automatically increases to 9% per year. The Company may defer dividend payments, but the dividend is a cumulative dividend that accrues for payment in the future.
About Community Bankers Trust Corporation
The Company is the holding company for Essex Bank, a
state bank with 24 full-service offices, 13 of which are in
, seven of which are in
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
SOURCE Community Bankers Trust Corporation