UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 20, 2012
COMMUNITY BANKERS TRUST CORPORATION
(Exact name of registrant as specified in its charter)
|
Delaware (State or other jurisdiction of incorporation) |
001-32590 (Commission File Number) |
20-2652949 (IRS Employer Identification No.) |
|
4235 Innslake Drive, Suite 200 Glen Allen, Virginia (Address of principal executive offices) |
23060 (Zip Code) |
Registrant’s telephone number, including area code: (804) 934-9999
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On July 20, 2012, Jeffery R. Cantrell became Executive Vice President and Chief Operating Officer of Essex Bank (the “Bank”), a wholly owned subsidiary of Community Bankers Trust Corporation (the “Company”). In this newly created position, Mr. Cantrell oversees the Bank’s loan and deposit operations, information technology and internal reporting, areas of responsibilities that have been previously managed by other executive officers.
Mr. Cantrell, 50, has served as the Bank’s Senior Vice President and Senior Financial Officer since 2009. From 2008 to 2009, he was Executive Vice President, Chief Financial Officer and Chief Operating Officer for North Metro Financial LLC, the organizational entity for a bank in organization in Georgia. From 1984 to 2008, he was employed with Regions Bank, where he most recently served in the position of Senior Vice President and East Region Financial Manager.
The Bank will enter into a change in control agreement with Mr. Cantrell. Under this agreement, in the event that a change in control occurs during the first 18 months of Mr. Cantrell’s employment as Chief Operating Officer and, within the period beginning on the date of closing of the change in control and ending one year after, his employment with the Bank is terminated by the Bank without cause or by him for good reason, the Bank will owe him one times the sum of his annual base salary in effect on his termination of employment or the change in control date, whichever is greater.
The Bank issued a press release reporting Mr. Cantrell’s appointment on July 30, 2012. The press release is being filed as Exhibit 99.1 to this report and is incorporated by reference into this Item 5.02.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. | Description | |
| 99.1 | Press release issued July 30, 2012 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| COMMUNITY BANKERS TRUST CORPORATION | ||
| (Registrant) | ||
| Date: July 30, 2012 | By: | /s/ John M. Oakey, III |
| John M. Oakey, III | ||
| General Counsel and Secretary | ||
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Press release issued July 30, 2012 |
Essex Bank Announces Appointment of Chief Operating Officer
July 30, 2012 (Glen Allen, Virginia) – Essex Bank, the banking subsidiary of Community Bankers Trust Corporation (NYSE Amex: BTC), announced today that it has appointed Jeffery R. Cantrell as Executive Vice President and Chief Operating Officer. In this newly created position, Mr. Cantrell oversees the Bank’s loan and deposit operations, information technology and internal reporting, areas of responsibilities that have been previously managed by other executive officers.
Mr. Cantrell has served as the Bank’s Senior Vice President and Senior Financial Officer since 2009. Prior to that time, he served briefly as Executive Vice President, Chief Financial Officer and Chief Operating Officer for a bank in organization in Georgia. From 1984 to 2008, Mr. Cantrell was employed with Regions Bank, where he spent the last 13 years as a regional financial manager and most recently in the position of Senior Vice President and East Region Financial Manager.
Rex L. Smith, III, President and Chief Executive Officer of Community Bankers Trust Corporation and Essex Bank, stated, “We are pleased to have Jeff in this position, as his appointment allows us to direct specific attention to increasing our operating efficiencies and allowing us to have better decision power in key administrative and financial areas. With the new capital requirements and rising regulatory burdens, banks need to be more efficient not only in how they deliver their products and services, but also knowing the best markets and methods. This involves better analytics and more detailed reporting. Jeff’s education and significant background in both finance and operations makes him a great fit for the job, and we believe will give us the competitive advantage we need for the future.”
* * * * *
About Essex Bank
Essex Bank is a Virginia state bank with 24 full-service offices, 13 of which are in Virginia, seven of which are in Maryland and four of which are in Georgia. Additional information 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.
Contact: John M. Oakey, III
Essex Bank
804-934-9999