Community Bankers Trust Corporation (ESXB) has reported 3.02 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $2.49 million in the quarter, compared with $2.42 million for the same period last year. Revenue during the quarter grew 5.13 percent to $12.02 million from $11.43 million in the previous year period. Net interest income for the quarter rose 7.46 percent over the prior year period to $10.87 million. Non-interest income for the quarter fell 12.72 percent over the last year period to $1.15 million.
Net interest margin improved 5 basis points to 3.88 percent in the quarter from 3.83 percent in the last year period.
Rex L. Smith, III, President and Chief Executive Officer, stated, “We continue to improve our core earnings while expanding the footprint of the franchise. We believe that the growth in branches and markets we have targeted will add value to the Company, especially when we can continue to increase earnings from that growth. Year over year, the Company grew its loan portfolio by $87 million, an 11.3% increase, since March 31, 2016. This was accomplished while increasing yields, as our overall loan yield, excluding PCI loans, increased from 4.56% in the fourth quarter of 2016 to 4.64% in the first quarter of 2017. Asset quality also continued to improve as the ratio of nonperforming assets to total loans and other real estate owned is at a seven-year low.”
Deposits stood at $1,052.67 million as on Mar. 31, 2017, up 12.70 percent compared with $934.05 million on Mar. 31, 2016.
Noninterest-bearing deposit liabilities were $129.04 million or 12.26 percent of total deposits on Mar. 31, 2017, compared with $104.17 million or 11.15 percent of total deposits on Mar. 31, 2016.
Investments stood at $260.21 million as on Mar. 31, 2017, up 3.71 percent or $9.31 million from year-ago. Shareholders equity was at $117.71 million as on Mar. 31, 2017.
Return on assets moved down 1 basis points to 0.82 percent in the quarter from 0.83 percent in the last year period. At the same time, return on equity decreased 28 basis points to 8.74 percent in the quarter from 9.02 percent in the last year period.
Nonperforming assets moved down 20.31 percent or $3.26 million to $12.77 million on Mar. 31, 2017 from $16.03 million on Mar. 31, 2016.
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