ESXB - Earnings call transcript Q3 2021 | Community Bankers Trust Corp

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good morning, and welcome to Community Bankers Trust Corporation Third Quarter 2021 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Rex Smith, please go ahead, President and Chief Executive Officer.

Rex Smith

is you of us XXXX the Bankers Corporation, thank review as for to for Trust results company the third which want for today joining we Community Essex I Bank. holding the quarter of

our future that files those remind Laws a with our remarks results included of our Securities with the are actual may forward-looking factors risks due Bankers respect XX-K in Commission. reminder, with we everyone meaning included Exchange the the performance, the statements forward-looking course to Let and me within Corporation materially reports usual strategy recent uncertainties of most number differ and during I or statements to other from start furnishes make and release, These of our Community that and our and goals. today, factors. to applicable earnings Form in may operations, our that Securities additional Trust

at to this give cover will customers. of terms of through fourth into the and United and end You can the what in quality corporation, We look some for At closing satisfaction point, merged and other our sheet expect be overall the access to services website market us for improve to to merger call to meantime, extremely final the over the XXXX. quarter. In as the all should documents conditions about turn of we highlights the the Bank metrics of the the of our the will our of earnings additional before we quarter and be I of balance approvals call and www.cbtrustcorp.com. resources of the and appropriate these growth value-added remain continue subject company. This Bruce our products excited to forward financial the share to

Bruce Thomas

and we results the the ended years. provision calls million Rex. of XXXX. $X.X second third to credit listened On quarter And I loan all quarter Net you XXXX. $X.X of quarter conference in you were the years. net of by Provision compared of million that September in these the presenting million my $X.X with quarter a third basis, today issued to XXXX was XXXX, you, compared XX, losses over you the quarter million will the to over the The a are, net have of for have of best income Thank income the for the income with for be in reflected in positively thank of affected quarter no of $X.XX following. earnings XXXX, second linked opinion,

or credit quality behind previous the of on income with in $XXX,XXX quarter, declined basis. a in which interest in improvement quarter by compared Continued income expense, for Net X.X% the increased quarter in was by losses. third of the positively linked loan of costs the $XX,XXX second decreasing interest the provision interest quarter driver Net a recapture continuation was third XXXX. affected

was X.XX% interest which without margin stability net the the XXXX, effects with in balances. margin, the in compared continue PPP, the also XXXX. company X.XX% net of of tax and equivalent interest quarter in see quarter net We third to The the average fees, examined interest of second income,

X.XX%. actual margin a resulted interest of The with XXXX, items of X.XX%. of Excluding in the margin actual calculation XXXX, resulted would compared of quarter from in with margin would quarter net exclusion of compared the these third in have related the margin second a have X.XX% the PPP PPP of X.XX% items same of in the related margin

from $X.X compared of million timeframe a positively and for nine XXXX XXXX. were months with of XXXX, in recovery X.XX% of loan months for X.XX% The interest losses nine provision reserve million comparison $X.X between affected of $X.X For period COVID-XX months by smaller $X.XX reflected for months XXXX; nine during a dividend nine following: X.XX% the same for increased and from XXXX compared the interest XXXX increases net the earnings expense margin XXXX; first increased with of to the over increased XXXX. of nine-month were first pandemic nine for was early to interest the in the which first in XXXX spread income declined for first million provision of million interest The months of X.XX% stage period also the for the million $X.X the the XXXX, in $XXX,XXX. and this first

the items have nine of interest margin calculation with first X.XX%. compared X.XX% from months XXXX, of for in Excluding PPP margin the actual margin resulted would related the net a of

that year excess million XX.X% year-over-year. during September PPP margin million banks and with liquidity X% Therefore, XX, million similar was $XX.X grew than margin $XXX.X loans September related of September million the margin XXXX, in and one quarter of million credit results year-over-year. as lower margin resulted Many basis the the a third Deposits grew equivalents items loans the Nonperforming The during increased liability or execution, $X.X strong X.XX% are back very the XXXX, actual not grew, higher compared with of over the $XX.X were of speak. at for of earlier. PPP. point third excluding Excluding million purchase These year Noninterest at quarter we $X Also, X.X% excluding net XXXX, non-performing into or for and credit one directors. turn for $XXX.X yielding I’m ratio cash compared of our best or asset months XX, during XXXX, impaired X.XX%. happy X.XX% third comments. million so planning, report million management calculation for closing estate September of of XX, and first of first risk and the increased the saved our Rex $XX.X to from million nine XX, call year-over-year $XX of happy grew guidance assets million from will months quarter results XXXX, deposits and was XXXX. invested nine of securities, And the assets great or declined when assets. X.X% $XX.X tenths interest have would XXXX, XXXX to other the to real margin. I years year-over-year. practices of loans by $XX earlier. at seven note, to at X.XX% grew management, Total Loans with and the bearing X.X% culmination last, one or am effects of regard to board

Rex Smith

Bruce. Thank you,

today Board early were As we we it Bank, not overall, their positive overcome dedication the for share them. accomplished franchise trading incredibly been than experience. our problems company. be bank is was good. work, very have It years. been management because we But experience many was solid had the commitment, through to and guidance knowledge Directors with great the Essex the close the I a has A extremely per for returns and expect the so cover past built want on and our I throughout and out am the hard shareholders. pleasure steady memories. current thank team what of an the to enough and with its structure, of team for as strong them an last XX Since there to many so management at entire has time, few, only time $X not less When especially with to quarter that years. That work we to begin changed to

merger with our guiding and enhance bank, move value As honesty, United continue to trust, respect, to we principles through of closer our we responsiveness, diversity.

merger financial secure for And safe all continue hard I work of returns. the has is produced our producing until to beyond. history and hard the the balance That they to of effective and do All the have support sheet of company, also associates banking our know of best worked superior date in so will which provide and customers. the

also a for the of core successful and as are and in the part ongoing pleased you the each optimistic of call we one We the now very pleased any of company. will I hope with thank open you, for We our your the questions. banks of very future our largest shareholders by of we've the are that results Virginia. become headquartered for quarter most support direction and

Operator

question-and-answer [Operator the session. Instructions] begin now will We

Operator

questions at ahead Rex go We'll to no Mr. sir. back There's time. remarks. this closing go Smith Please for

Rex Smith

It I will I'd Okay. been questions, all everybody real day has and any be like their to and follow-up a Bruce available if ongoing for pleasure anybody thank support. has

Operator

Thank presentation. attending Conference for is you now concluded. today's

You may disconnect. now

Community Bankers Trust (ESXB) 29 Oct 212021 Q3 Earnings call transcript