Welcome to our dedicated page for Eagle Finl Svcs news (Ticker: EFSI), a resource for investors and traders seeking the latest updates and insights on Eagle Finl Svcs stock.
Eagle Financial Services, Inc. (EFSI), the bank holding company for Bank of Clarke, regularly issues news and press releases covering its financial performance, capital actions, and community banking activities. Headquartered in Berryville, Virginia, the company operates in the commercial banking industry through Bank of Clarke’s network of branches, loan production offices, and a wealth management office in selected Virginia counties and in Maryland.
News about Eagle Financial Services often centers on quarterly and annual financial results, including net income, net interest margin, noninterest income, and asset quality metrics. Earnings releases typically discuss trends in loan interest income, deposit costs, nonperforming assets, and the allowance for credit losses, along with commentary from management on strategic priorities and balance sheet management.
Investors and analysts can also find announcements related to capital markets activity, such as public offerings of common stock conducted under the company’s shelf registration statement, the exercise of underwriters’ overallotment options, and the listing of EFSI shares on the Nasdaq Capital Market. These items provide context on the company’s capital position and funding strategy.
Other news items highlight branch expansion and community banking initiatives, including the opening of new full-service branches in markets such as Fairfax County, and the evolution of loan production offices. The company also reports on board appointments and governance developments, including the addition of directors with expertise in technology, data security, and artificial intelligence.
For followers of EFSI, this news feed offers a centralized view of the company’s earnings announcements, strategic transactions, branch network developments, and governance updates, all of which help explain how Eagle Financial Services and Bank of Clarke pursue their community banking and wealth management objectives.
Eagle Financial Services (OTCQX: EFSI) reported strong Q4 2024 financial results, with net income reaching $6.2 million compared to $3.4 million in Q3 2024. The company announced a quarterly dividend of $0.31 per share, payable on February 14, 2025.
Key Q4 2024 highlights include: earnings per share increased to $1.74, deposit growth of $29.2 million (1.9%), and borrowings decreased by $50.0 million. The company achieved sales of $18.6 million in mortgage loans and $7.4 million in SBA loans, generating gains of $861 thousand.
The net interest margin remained stable at 3.03%, while total assets slightly decreased to $1.87 billion. Total net loans decreased by $16.0 million to $1.45 billion, mainly due to marine and mortgage run-offs. Total deposits increased to $1.58 billion, with over 75% being fully FDIC insured.
Eagle Financial Services (OTCQX: EFSI) reported Q3 2024 net income of $3.4 million, up from $3.2 million in Q2 2024 and $2.3 million in Q3 2023. Earnings per share increased to $0.97, with an annualized return on average equity of 11.99%. The quarter saw deposit growth of $57.4 million (3.9%) and noninterest income increased by $946 thousand (22%). The company's net interest margin improved to 2.88%, and total consolidated assets reached $1.88 billion. The Board declared a quarterly dividend of $0.31 per share, payable November 15, 2024.
Eagle Financial Services (OTCQX: EFSI) announced its Q2 2024 financial results on July 26, 2024. Key highlights include a $824K increase in noninterest income, a 25% rise in net income to $3.2M, and a 17 cent boost in EPS to $0.89. Return on average total equity grew from 9.43% to 11.89%, and nonperforming assets decreased from $5.0M to $3.3M. However, net interest income dipped by 2.1% to $12.2M, and interest expense rose slightly to $9.6M, impacted by deposit rate specials. The company also announced a quarterly dividend of $0.30 per common share, payable on August 16, 2024, to shareholders of record as of August 5, 2024. Total consolidated assets stood at $1.79B, up by $7.5M from Q1 2024. Meanwhile, total deposits grew to $1.49B, and shareholders' equity increased to $111.1M. Operations saw a decrease in cash and cash equivalents by $4.0M and net unrealized losses on securities improved by $1.3M. The book value per common share was $31.24.
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