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Community Bankers Trust Corp.

Nov 5, 2021

Henrico’s Essex Bank to lay off 51 employees in merger

The Henrico County-based parent company of Essex Bank will lay off 51 employees as a result of its merger with Charleston, West Virginia-based United Bankshares Inc., the parent company of United Bank. The company filed a Worker Adjustment and Retraining Notification Act (WARN) notice with the Virginia Employment Commission on Friday, Oct. 29, notifying them […]

“It’s very difficult to find a $1 billion bank” in the Richmond region, says Rex L. Smith III, president and CEO of Henrico County-based Community Bankers Trust Corp., which is being acquired by West Virginia-based United Bankshares Inc. “They’ve either been gobbled up or they don’t exist.” Photo by Shandell Taylor
Jul 30, 2021

Come together

Virginia is seeing a wave of bank mergers and acquisitions, a trend that could intensify, banking experts say. “We could potentially see a record-setting year for bank mergers and acquisitions,” says John Asbury, president and CEO of Richmond-based Atlantic Union Bankshares Corp. and chairman of the Virginia Bankers Association. Banks are reaching for scale, meaning […]

Jun 3, 2021

W.Va.-based United Bankshares to acquire Essex Bank for $303M

Henrico County-based Community Bankers Trust Corp., the parent company of Essex Bank, has entered into a $303.3 million deal to be acquired by Charleston, West Virginia-based United Bankshares Inc., United Bank‘s parent. After the companies announced the agreement Thursday, Community Bankers Trust’s stock rose 29.78% as of mid-afternoon to $11.94 per share and United Bankshares’ [...]

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