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.
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Eagle Financial Services, Inc. (EFSI) reported its fourth quarter 2022 results with a net income of $3.2 million, a 21.7% decrease from Q3 2022 but a 40% increase from Q4 2021. The company achieved record loan growth of $338 million (25.5%) for the year, with earnings per share reaching a record $4.17. Net interest income rose to $13.3 million, up 2.8% from Q3 2022. Total consolidated assets grew to $1.62 billion, reflecting a 9.75% increase. Despite a $930 thousand provision for loan losses and rising interest expenses totaling $2.9 million, the Trust and Wealth Management division contributed significantly to the company’s after-tax revenue.
Eagle Financial Services, Inc. (OTCQX: EFSI) announced a quarterly cash dividend of $0.30 per common share on January 25, 2023. This dividend will be payable on February 17, 2023, to shareholders who are on record by February 6, 2023. The Bank of Clarke, the primary subsidiary, provides a variety of banking services across several counties in Virginia and Maryland, with a strong presence through its branches and loan production offices. This dividend declaration highlights the company's commitment to returning value to its shareholders and indicates financial stability within the current economic landscape.
Eagle Financial Services, Inc. (OTCQX: EFSI) reported record earnings for Q3 2022, with net income reaching $4.1 million, a 42.1% increase year-over-year. Basic and diluted earnings per share (EPS) stood at $1.17, the highest in the company's history. Total assets grew to $1.47 billion, up 5.03% from the previous quarter, driven by significant loan growth of $80.1 million. The Board declared a quarterly dividend of $0.30 per share, payable on November 21, 2022. However, noninterest income decreased by 17.8% to $3.2 million, affected by a loss on securities.
Eagle Financial Services, Inc. (EFSI) reported strong second quarter 2022 results with a net income of $4.0 million, a 22.8% increase from Q1 and a 32.9% increase YoY. The company announced a quarterly dividend of $0.29 per share, payable on August 19, 2022. Net interest income rose 7% to $11.9 million thanks to robust loan growth, with total loans increasing by $98.8 million. Noninterest income also saw an 18.7% rise to $3.8 million. However, total assets reached $1.40 billion, and the book value per share is at $28.58, reflecting ongoing growth and commitment to shareholders.
Eagle Financial Services, Inc. (EFSI) reported first quarter 2022 net income of $3.3 million, a 42.4% increase from Q4 2021. Basic and diluted earnings per share were $0.94. Loan portfolio surpassed $1 billion with a net growth of $35.2 million, despite a $7.5 million reduction from PPP loans. Total deposits grew by $54.1 million to $1.23 billion. The company achieved annualized earnings per share of $3.80.
Shareholders' equity decreased to $102.1 million due to unrealized losses. The company declared a cash dividend of $0.28 per share payable on May 18, 2022.
Eagle Financial Services, Inc. (EFSI) has completed a private placement offering of $30 million in 4.50% Fixed-to-Floating Rate Subordinated Notes due 2032. The proceeds will primarily contribute to the Bank of Clarke County's growth and will qualify as Tier 2 capital. The Notes bear a fixed interest rate of 4.50% until April 2027, after which the rate will adjust quarterly based on the SOFR plus 235 basis points. The offering was arranged for accredited institutional investors and is not registered under federal securities laws.
Eagle Financial Services (OTCQX: EFSI) reported fourth quarter 2021 net income of $2.3 million, down 20.7% sequentially and 8.9% year-over-year, amid rising legal expenses. Deposit growth stood at $46.6 million, totaling $1.18 billion. Basic and diluted earnings per share were $0.66. Total loans grew by $62.6 million, with net interest income reaching $11.1 million, driven by a rising loan portfolio. Despite challenges, the bank's noninterest income increased by 16.7% to $3.4 million. The total consolidated assets rose to $1.30 billion, reflecting a 4.0% increase from the previous quarter.
Eagle Financial Services (OTCQX: EFSI) declared a cash dividend of $0.28 per common share on January 26, 2022. This dividend is payable on February 18, 2022, to shareholders of record by February 7, 2022. The company operates the Bank of Clarke County with 12 bank branches, providing various commercial and retail banking services across Clarke and Frederick Counties, as well as the City of Winchester and nearby towns in Virginia.
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