RICHMOND, Va., March 3, 2021 /PRNewswire/ -- Community Bankers
Trust Corporation (NASDAQ: ESXB), the holding company for Essex
Bank, announced today that its Board of Directors has authorized
the repurchase of up to 1,000,000 shares of its common stock
through February 2022. Shares
of common stock may be purchased under the program periodically in
privately negotiated transactions or in open market transactions at
prevailing market prices, and pursuant to a trading plan in
accordance with applicable securities laws.
Rex L. Smith, III, the Company's
President and Chief Executive Officer, stated, "We remain focused
on our key growth strategies for 2021, including maintaining a
balance between capital strength and total shareholder
return. The use of our capital through this program is an
important opportunity toward long-term growth, value enhancement
and price efficiency for our shareholders."
The actual means and timing of any purchases, target number of
shares and prices or range of prices under the repurchase program,
which the Company will determine in its discretion, will depend on
a number of factors, including the market price of the Company's
common stock, share issuances under the Company's equity plans,
general market and economic conditions, and applicable legal and
regulatory requirements. The Company's Board of Directors may
modify, amend or terminate the program at any time. There is no
assurance that the Company will purchase any shares under the
program.
About Community Bankers Trust Corporation and Essex Bank
Community Bankers Trust Corporation is the holding company for
Essex Bank, a Virginia state bank
with 24 full-service offices, 18 of which are in Virginia and six of which are in
Maryland. The Bank also operates two loan production
offices.
Additional information on the Bank is available on the Bank's
website at www.essexbank.com. For information on Community
Bankers Trust Corporation, please visit its website at
www.cbtrustcorp.com.
Forward-Looking Statements
This press release contains forward-looking statements about the
Company's share repurchases and strategic plans and objectives.
These statements are made on the basis of the Company's views and
assumptions as of this time, and the Company undertakes no
obligation to update these statements unless required by law.
These statements are not a guarantee of future performance, and
actual events or results may differ materially from these
statements. Investors should consult the periodic and other
reports that the Company files from time to time with
the Securities and Exchange Commission (including the
information set forth under the caption "Risk Factors" in each of
the Company's Annual Report on Form 10-K for the year
ended December 31, 2019 and its Quarterly Report on Form 10-Q
for the period ended September 30,
2020) for information about certain factors, risks and
uncertainties that could cause such differences. Copies of
these filings may be obtained by visiting the Company's website
at www.cbtrustcorp.com.
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SOURCE Community Bankers Trust Corporation