Eagle Financial Services, Inc. is a bank holding company founded in 1991, operating primarily in Virginia and Maryland with a focus on community banking and wealth management.

# Company Overview: Eagle Financial Services, Inc.

## Business Activities
- **Type:** Bank holding company
- **Founded:** 1991
- **Headquarters:** Berryville, Virginia
- **Main Subsidiary:** Bank of Clarke (Virginia chartered bank)
- **Operations:** Conducts banking and wealth management services through its subsidiary

## Branch and Office Network
- **Full-service branches:** 13 in Virginia (Berryville, Winchester, Boyce, Stephens City, Purcellville, Warrenton, Leesburg, Ashburn, Fairfax) and Maryland (Frederick)
- **Loan Production Offices:** 2 in Virginia and Maryland
- **Wealth Management Office:** 1
- **Drive-through facility:** 1
- **ATM locations:** 13

## Customer Base
- **Customer count:** Approximately 845 shareholders of record as of March 21, 2025
- **Market Area:** Shenandoah Valley, Northern Virginia, and Frederick, Maryland

## Employees
- **Total full-time equivalent employees:** 231 (as of December 31, 2024)
  - Officers: 75
  - Non-officer full-time employees: 150
  - Part-time employees: 6
- **Employee Relations:** Considered to be excellent, with a "Great Place to Work®" certification valid through June 2025

## Financial Performance (2024)
- **Total Assets:** $1.87 billion
- **Net Loans:** $1.45 billion
- **Total Deposits:** $1.58 billion
- **Shareholders’ Equity:** $119.0 million
- **Net Income:** $15.3 million
- **Earnings Per Share:**
  - Basic: $4.32
  - Diluted: $4.32
- **Return on Assets (ROA):** 0.85%
- **Return on Equity (ROE):** 13.77%
- **Common Stock Market Price (as of March 21, 2025):** $32.66 per share
- **Share Count Outstanding:** 5,378,653 shares
- **Dividends Paid in 2024:** Total of $4.3 million ($1.21 per share)

## Revenue Streams
- **Interest Income:** $91.3 million
   - Primarily from loans (taxable and tax-exempt) and securities
- **Noninterest Income:** $21.6 million
   - Includes wealth management fees, service charges, gains from sales of assets, mortgage loan sales, and life insurance income

## Key Business Lines
- **Community Banking:** Core banking operations including retail and commercial loans, deposits, wealth management, and fee-based services
- **Marine Lending:** Significant portfolio of marine vessel loans; sold marine vessel floor plan loans in August 2023; retained marine vessel retail loans
- **Wealth Management:** Trust services, brokerage, investment sales, estate settlement, fiduciary services, and investment advisory

## Growth and Strategy
- **Loan Portfolio:** Slight increase of 0.3% in 2024, mainly driven by residential and commercial real estate loans
- **Deposit Growth:** Increased by 4.57% in 2024, primarily through retail deposit accounts and time deposits
- **Capital:** 
  - Tier 1 Capital (2024): $166.1 million (11.04% ratio)
  - Total Risk-Based Capital (2024): $180.6 million
  - Capital ratios meet regulatory requirements; the bank is classified as "well-capitalized"
- **Stock Offering:** Completed on February 10, 2025, issuing 1.56 million new shares at $32.00, raising approximately $53.8 million

## Regulatory and Operating Environment
- **Supervision:** Under the Federal Reserve, Virginia State Corporation Commission, FDIC
- **Focus:** Capital adequacy, loan quality, interest rate and market risk, cybersecurity, and compliance
- **Risk Management:** Emphasizes credit risk, interest rate risk, cybersecurity strategies, and adherence to regulatory standards

This summary captures the core operations, financial metrics, market presence, and strategic focus of Eagle Financial Services, Inc. based solely on provided data.

Eagle Financial Services, Inc. is a Virginia-based bank holding company providing retail and commercial banking services primarily through the Bank of Clarke.

# Summary of Eagle Financial Services, Inc.

## Company Overview
Eagle Financial Services, Inc. is a bank holding company established in 1991, headquartered in Berryville, Virginia. Its principal operating subsidiary is Bank of Clarke, which offers a vast range of retail and commercial banking services to clients predominantly in Virginia and parts of Maryland. As of December 31, 2023, Eagle Financial Services had a workforce of 241 employees, comprising 92 officers, 142 full-time employees, and 9 part-time employees.

## Branch Network
- **Number of Branches**: 13 full-service branches
- **Loan Production Offices**: 2 (including one in Maryland)
- **Drive-Through Only Facility**: 1
- **ATM Locations**: 13

### Geographic Presence
The Bank operates across several Virginia counties, including:
- Clarke County
- Frederick County
- Fauquier County
- Loudoun County
- Fairfax County
- Towns of Leesburg, Ashburn, and Purcellville
- City of Winchester
Also, maintains a branch in Frederick, Maryland.

## Services Offered
Eagle Financial Services provides a diverse array of financial services:
- **Depository Services**:
  - Demand, savings, and time deposits
  - Various consumer and commercial deposit accounts, including ACH origination and remote deposit capture
  
- **Lending Services**:
  - Consumer loans
  - Mortgage loans
  - Commercial loans

- **Wealth Management**:
  - Full-service trust department
  - Brokerage services, including investment products (IRAs, mutual funds, annuities, life insurance)
  
- **Technology and Banking Services**:
  - Internet banking with online bill pay
  - Mobile banking
  - Telephone banking

## Financial Performance
- **Loan Portfolio** (as of December 31, 2023): Total loans secured by real estate amounting to **$1.0 billion**, accounting for **71.5%** of the total loan portfolio.
- **Dividends Paid in 2023**: **$4.2 million**, which included reinvested cash dividends in Company stock.

## Employee Relations
The Company's employment structure is non-unionized, and it has been recognized as a "Great Place to Work®" in the fourth quarter of 2023. The workforce is notably committed, contributing to the overall excellent relations and performance of the institution.

## Regulatory Environment
As a bank holding company, Eagle Financial Services is heavily regulated under the Bank Holding Company Act of 1956 and is also subject to federal and state laws governing consumer protection, capital requirements, and liquidity standards.

In summary, Eagle Financial Services, Inc. provides a comprehensive suite of banking, lending, and investment management services to a diverse clientele through its network of branches and headquarters in Virginia, while adhering to stringent regulatory oversight.

EAGLE FINANCIAL SERVICES INC

10-K / March 31, 2025

10-K / March 29, 2024

10-K / March 31, 2025

Company Overview: Eagle Financial Services, Inc.

Business Activities

Branch and Office Network

Customer Base

Employees

Financial Performance (2024)

Revenue Streams

Key Business Lines

Growth and Strategy

Regulatory and Operating Environment