Comparing the current results to its competitors, Community Bankers Trust reported Revenue increase in the 3 quarter 2021 by 37.07 % year on year. The sales growth was above Community Bankers Trust's competitors' average revenue growth of 9.3 %, achieved in the same quarter.
Community bankers trust corp Net Income in the 3 quarter 2021 grew year on year by 45%, faster than the Community Bankers Trust's competitors average income growth of 36.67 %
Community Bankers Trust's Comment on Competition and Industry Peers
Within its market areas in Virginia and Maryland, the Company operates in a highly
competitive environment, competing for deposits and loans with commercial corporations,
savings banks and other financial institutions, including non-bank competitors,
many of which possess substantially greater financial resources than those available
to the Company. Many of these institutions have significantly higher lending limits
than the Company. In addition, there can be no assurance that other financial
institutions, with substantially greater resources than the Company, will not
establish operations in its service area. The financial services industry remains
highly competitive and is constantly evolving.
The activities in which the Company engages are highly competitive. Financial
institutions such as credit unions, consumer finance companies, insurance companies,
brokerage companies and other financial institutions with varying degrees of regulatory
restrictions compete vigorously for a share of the financial services market.
Brokerage and insurance companies continue to become more competitive in the financial
services arena and pose an ever increasing challenge to banks. Legislative changes
also greatly affect the level of competition that the Company faces. Federal legislation
allows credit unions to use their expanded membership capabilities, combined with
tax-free status, to compete more fiercely for traditional bank business. The tax-free
status granted to credit unions provides them a significant competitive advantage.
Many of the largest banks operating in Virginia and Maryland, including some of
the largest banks in the country, have offices in the Company’s market areas.
Many of these institutions have capital resources, broader geographic markets,
and legal lending limits substantially in excess of those available to the Company.
The Company faces competition from institutions that offer products and services
that it does not or cannot currently offer. Some institutions with which the Company
competes offer interest rate levels on loan and deposit products that the Company
is unwilling to offer due to interest rate risk and overall profitability concerns.
The Company expects the level of competition to increase.
Strong sales growth of 37.07 % in Overall company contributed to Community bankers trust corp increase in total revenue by 37.07 % Community bankers trust corp improved its market share in this segment, to approximately 0.01 %.
Publicly Traded Peers of Community bankers trust corp
Stock Yards Bancorp Inc Share Performance
-2.21%
Over The Past 5 Days
Stock Yards Bancorp Inc
Profile
Stock Yards Bancorp Inc operates as a holding company for Stock Yards Bank & Trust Company. Its business model revolves around providing a range of banking services, such as personal and commercial banking, mortgage lending, and wealth management, primarily to individuals and small businesses in the Louisville, Kentucky market area.
Penns Woods Bancorp Inc operates as a bank holding company primarily engaged in providing commercial banking and financial services. The company focuses on delivering personalized banking solutions to individuals and businesses in its local market, while also striving to maintain strong customer relationships through exceptional service.
Pacific Premier Bancorp Inc operates as the holding company for Pacific Premier Bank. Its business model revolves around providing various banking services to businesses, professionals, entrepreneurs, and individuals in target markets. The company aims to drive long-term profitability by offering innovative financial solutions, delivering exceptional customer service, and maintaining a strong core deposit base.
Pnc Financial Services Group Inc Share Performance
+12.31%
This Year
Pnc Financial Services Group Inc
Profile
PNC Financial Services Group Inc operates as a diversified financial services company, offering an array of banking, investment, and asset management services to both individuals and businesses. The companys business model emphasizes a combination of physical branch locations and advanced digital banking platforms to provide tailored financial solutions that address the specific needs of their customers. By integrating technology with traditional banking services, PNC seeks to enhance customer experience and drive growth across its various financial service offerings.
Sources:
Community bankers trust corp’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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