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Third Quarter Results Of Community Bankers Trust Corporation (BTC) Declared 1 comment
Community Bankers Trust Corporation (BTC), the holding company for Essex Bank, reported a net loss available to common stockholders of $1.6 million for the third quarter of 2010. This compares with a net loss available to common stockholders of $2.2 million for the third quarter of 2009, an improvement of $604,000, or a decrease in loss per share, on a diluted basis, of $0.03, from $0.10 to $0.07.
The Henrico County-based holding company for Essex Bank reported a net loss available to common stockholders of $1.6 million, or 7 cents per share, for the third quarter, compared with a loss available to common stockholders of $2.2 million, or 10 cents per share, for the third quarter of 2009.
Total interest and dividend income fell 5.4 percent because of a decrease in the average balance of total loans to $684 million in the third quarter from $731.6 million in the third quarter of 2009 for BTC.
Total interest expense declined $1.9 million, from $6.4 million in the third quarter of 2009 to $4.5 million in the third quarter of 2010. The average rates paid were 2.48% in the third quarter of 2009 and 1.77% in the third quarter of 2010. BTC's current strategy of de-leveraging its balance sheet has enabled it to aggressively price deposits downward.Stock Twiter
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BTC:Community Bankers Trust Corp;
Last:1.07 Cents; data.cnbc.com/quotes/B...
Per Cash Change: ’08, ’09, ’10: +33.219M; Market Cap 22.971M;
Notes:
Is Net Cash Flow; Cash in or Cash out? Cash In
Does the Oper Balance Sheet Represent Net Cash In? Cash In
Does the Securities / Net Loan Repayment Category Represent Net Cash In? Cash Out: __Sec’s Purchase; [W/ MBS / Munis 70% of 300M Portfolio] Cash (547.303M)
Does the Deposits / Debt Category Represent Net Cash In? Cash In
Does PLL / REO / Other / Non Cash Adjustments Represent Net Cash In? Cash In
Scheduled @ 75.27 Cents;
Desc, Breakdown, Price: , Metric. , Weight. , Primary Weight Adj Trading Metric ,Year, Weight Adj Price.
20. Net Inc / Loss , PT MRQ: 0.7527 , (0.33) , 3.92 , (1.28), Price1, 2.952
21.OperBalanceSheet , PT MRQ: 0.7527 , 6 , 1.17542 , 6.92, Price2, 0.88
22. Investing Cash , PT MRQ: 0.7527 , (0.1263) , 1.00 , (0.13), Price3, 0.75
23. Finance Cash , PT MRQ: 0.7527 , 0.12 , 1.00 , 0.12, Price4, 0.75
24. Non Cash Adj , PT MRQ: 0.7527 , 0.23 , (0.93) , (0.21) , Price5, (0.70)
Desired Range; Sum Trading At: ,Primary Metric(s) per CF, 5.78 ,Metric Weighted per Price Range / Change, 6.16012_404 ,Combined Weight Adj Trade Metric, 5.42_7_17, (10)M Market Cap, for (0.45) off adjusted level price of $1.21;
Recent Net Loss ’10 (20.993M);
Estimate of Forward Activity:
Net $$MM Recent Report 3 Years: (50)
MinRetGrowth: 0.06
MinRetInv: 0.06
Weighted Cost of Funds: 0.018
Estimated Local Continuing Value in $$M: 2
Estimated Factor NOT LOCAL in $$M: 21.498
Estimated ContinuingValue:Annual Net Int Income $$M: 42.717
Est NOT LOCAL / Desired Price on LT Fwd Value : 1.3375
2.00, ,Factor Forward.
0.67, ,Price To.
5.377% , Desired Percentage Increase in NII from Most Recent Report;
Recent News:
Community Bankers Trust Corporation and Essex Bank Enter into Written Agreement with Banking Regulators;
The Company and the Bank have mutually entered into a written agreement with the Federal Reserve Bank of Richmond and the Bureau of Financial Institutions of Virginia's State Corporation Commission.
Under the terms of the agreement, the Company and the Bank have committed to take certain actions to strengthen the Company's and Bank's risk profile and operations and maintain effective control over and supervision of major operations and activities, with a focus on the Bank's credit risk management and credit administration activities.
Do not own Shares; Follow the Company; Would Consider a Speculative Buy @ 75 Cents Limit Order as a Distressed Asset 5-42-Exit7s-17 Holding; Quasi Distressed MBS / Muni Bond Holding;
Equity:
Stated Current Tier1 Capital Ratio:14.4%, Total Risk Based 15.6%;
***Apparently that is being questioned;
Current Unadjusted Price to Book:_.21_44_2x
Unadjusted BV:107.127M; Assets: 1.115B
With Additional Paid In Equity of 143M;
Bank Has Covered Loan Agreement w/ FDIC per Acquisition of Bank in Receivership; Bid Negative 45M; Acquired FV 13.4M;(31.631M)
Note: 2009, the Company invested $50 million in the Consolidated Bank, which resulted in an increase in the Bank’s regulatory capital. [???!!!]
2006:Emerged on the Trading Screens @ $7.17 / Share.
Profile: data.cnbc.com/quotes/B...
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