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) delivers community-focused banking solutions through retail/commercial services, marine lending, and wealth management across Virginia. This dedicated news hub provides stakeholders with verified updates about EFSI's financial developments and market activities.
Access timely press releases covering earnings reports, regulatory filings, leadership changes, and strategic initiatives. Track updates across core operations including Community Banking expansions, Marine Lending portfolio developments, and Wealth Management service enhancements.
Our curated news collection serves investors analyzing financial performance, businesses monitoring commercial lending rates, and residents tracking local branch developments. All content undergoes strict verification to ensure compliance with financial reporting standards.
Bookmark this page for direct access to EFSI's official communications, including merger/acquisition announcements, dividend declarations, and technology initiatives like mobile banking upgrades. Stay informed about how Virginia's trusted financial institution navigates evolving market conditions.
Eagle Financial Services (NASDAQ: EFSI) reported first quarter 2025 results with a net loss of $7.0 million, compared to net income of $6.2 million in Q4 2024. The loss was primarily due to a $12.4 million pre-tax loss from securities sales during balance sheet repositioning.
Key Q1 2025 highlights include: completion of a $53.5 million public offering of 1,796,875 shares at $32.00 per share, core deposit growth of $42.2 million (3.3%), reduction in FHLB borrowings by $55.0 million to $65.0 million, and Wealth Management fee income increase of 21.8% to $1.7 million.
The company's net interest margin was 2.98%, with nonperforming assets increasing to $16.4 million (0.86% of total assets) from $3.0 million in Q4 2024. The Board declared a quarterly dividend of $0.31 per share, payable May 16, 2025.
Eagle Financial Services (Nasdaq: EFSI) announced the successful exercise of the overallotment option from its recent public offering, resulting in the sale of an additional 234,375 shares of common stock at $32.00 per share. The company expects to receive approximately $7.1 million in proceeds after deducting underwriting discounts and commissions but before operating expenses.
The offering was conducted through a registration statement on Form S-3, with Keefe, Bruyette & Woods serving as the sole bookrunner and D.A. Davidson & Co. as lead manager. The Company operates through its subsidiary, Bank of Clarke, providing commercial banking, retail banking, and trust services through thirteen branches and various facilities across Virginia.
Eagle Financial Services (OTCQX: EFSI) has announced the pricing of its underwritten public offering of 1,562,500 shares of common stock at $32.00 per share. The company expects to raise approximately $47.0 million in proceeds after deducting underwriting costs but before operating expenses.
The underwriters have a 30-day option to purchase up to an additional 234,375 shares. Trading is expected to begin on the Nasdaq Capital Market on February 7, 2025, under the ticker symbol 'EFSI'. The offering is anticipated to close around February 10, 2025.
The company plans to use the net proceeds for general corporate purposes, including potential balance sheet restructuring through repositioning their available-for-sale debt securities portfolio and supporting capital ratios and continued growth. Keefe, Bruyette & Woods is serving as the sole bookrunner, with D.A. Davidson & Co. acting as lead manager.
Eagle Financial Services (OTCQX: EFSI) has announced the launch of an underwritten public offering of its common stock shares. The company has received approval for listing on the Nasdaq Capital Market under the symbol 'EFSI' and will grant underwriters a 30-day option to purchase additional shares.
The net proceeds will be used for general corporate purposes, including balance sheet restructuring through repositioning of available-for-sale debt securities portfolio and supporting capital ratios and continued growth. Keefe, Bruyette & Woods, A Stifel Company, is serving as the sole bookrunner, while D.A. Davidson & Co. is acting as lead manager.
The offering is being made through a registration statement on Form S-3 that was declared effective by the SEC on February 28, 2023. The company operates through its subsidiary, Bank of Clarke, with thirteen full-service branches, two loan production offices, one wealth management office, and one drive-through facility across Virginia.
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.
Eagle Financial Services, Inc. reported its first quarter 2024 financial results, highlighting an increase in earnings per share, decreased noninterest expenses, and improved efficiency. The company also declared a quarterly dividend of $0.30 per share.
Total loan interest income rose by 16.3% compared to the same period last year, driven by an increase in average loans outstanding. Net interest income increased by 1.1% from the previous quarter, while noninterest expenses decreased by 6.8%. Nonperforming assets decreased, reflecting a strong asset quality. The Company's net interest margin was 2.91% for the quarter.
Despite challenges in the market landscape, the company remains focused on delivering value to clients and shareholders, with a commitment to sustainable growth opportunities.
