Community Bankers Trust Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. The company recorded a net loss of $640,000 for the fourth quarter of 2017, compared with linked quarter net income of $2.4 million in the third quarter of 2017 and year-over-year net income of $2.7 million in the fourth quarter of 2016. Loss per common share, basic and fully diluted, was $0.03 per share compared to earnings per share of $0.12 a year ago. Net income in 2017 was affected by the charge of $3.5 million to income tax expense in the fourth quarter of 2017 related to the re-measurement of net deferred tax assets resulting from the new 21% tax rate established by the Act. Net interest income was $11,249,000 against $10,626,000 a year ago. Income before income taxes was $3,576,000 against $3,816,000 a year ago. Negative return on average assets, annualized was 0.19% against return on average assets was 0.87% a year ago. Negative return on average equity, annualized was 2.02% against return on average equity was 9.71% a year ago. Net income prior to adjustment to reflect the Act was $2,907,000 or $0.13 per basic share against $2,416,000 or $0.11 per basic share a year ago

For the year ended December 31, 2017, net income was $7.2 million, or $0.33 per common share basic and $0.32 fully diluted, compared with December 31, 2016, net income of $9.9 million, or $0.45 per common share. Net interest income was $44,116,000 against $41,475,000 a year ago. Income before income taxes was $14,106,000 against $13,738,000 a year ago. Return on average assets, annualized was 0.56% against 0.83% a year ago. Return on average equity, annualized was 5.91% against 8.92% a year ago. Net income prior to adjustment to reflect the Act was $10,750,000 or $0.49 per basic share against $9,922,000 or $0.45 per basic share a year ago. ROA prior to adjustment to reflect the Act was 0.84% against 0.88% a year ago. ROE prior to adjustment to reflect the Act was 8.82% against 9.19% a year ago.

For the quarter, the company reported net charge-offs of $98,000.