Community Bankers (ESXB) Tops Q3 EPS by 2c

Community Bankers (NASDAQ: ESXB) reported Q3 EPS of $0.18, $0.02 better than the analyst estimate of $0.16.

Rex L. Smith, III, President and Chief Executive Officer, stated, "The third quarter showed a continuation of many of the positive trends we saw in the first half of 2018. While loan growth year to date remains well below what we experienced in previous years, it is in line with the trends we see in most banks. Our conservative approach to loan pricing and credit quality has allowed us to increase our margin and continue growth of low cost deposits. Our branches, specifically our newer ones, are gaining good deposit momentum, which has allowed us to significantly pay down our wholesale fundings and increase our noninterest bearing deposit base."

Smith added, "Our disciplined approach to balance sheet management continues to pay off in the rising rate environment. It shows in most of the major metrics of the Company including asset quality, net interest margin and return on total assets. Our earnings year to date are the highest they have been in the history of the Company."

Smith concluded, "We continue to focus on total return for our shareholders and will remain disciplined in our growth in all areas. Given our balance sheet and the current rate environment, we remain optimistic for continued positive trends for the rest of 2018 and 2019."

For earnings history and earnings-related data on Community Bankers (ESXB) click here.

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