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EFSI on Nasdaq

EAGLE FINANCIAL SERVICES INC

EAGLE FINANCIAL SERVICES INC is a bank holding company.1 It is headquartered in Berryville, Virginia.1 Its shares trade on Nasdaq under the symbol EFSI.1

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Last updated Oct 21, 2026.

Overview

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  • TickerEFSI on Nasdaq1
  • IndustryState Commercial Banks1
  • HeadquartersBerryville, Virginia1
  • Incorporated inVA2
  • Business address2 E Main St, Berryville, Va 226112
  • Filer categoryAccelerated filer, Smaller reporting company2
  • Legal formCorporation

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Eagle Financial Services, Inc. is a bank holding company that was incorporated in 1991. The company is headquartered in Berryville, Virginia and conducts its operations through its subsidiary, Bank of Clarke (the “Bank”). The Bank is chartered under Virginia law. For purposes of this annual report on Form 10-K, the terms the "Company," "our," "us" and "we" refer to Eagle Financial Services, Inc. and our subsidiary as a combined entity, unless this report otherwise indicates or the context otherwise requires.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

-100.0%Revenue growth, 20234
8.6%Return on equity5
$5.8MFree cash flow6

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Asset Management brought in 44% of the revenue EAGLE FINANCIAL SERVICES INC broke down this way in fiscal 2025.

  1. Asset Management$6.0M544%up 40% from 2024
  2. Interchange Fees$3.5M526%up 4% from 2024
  3. Overdrawn Account Fees$1.6M512%up 8% from 2024
  4. Brokerage Commissions$1.4M510%up 9% from 2024
  5. Monthlyand Other Service Fees$517.0K54%up 19% from 2024
  6. ATM Fees$397.0K53%up 10% from 2024
  7. Other Chargesand Fees$258.0K52%down 38% from 2024
Products and services by year
Products and services20242025
Asset Management$4.3M$6.0M
Interchange Fees$3.4M$3.5M
Overdrawn Account Fees$1.5M$1.6M
Brokerage Commissions$1.3M$1.4M
Monthlyand Other Service Fees$436.0K$517.0K
ATM Fees$361.0K$397.0K
Other Chargesand Fees$416.0K$258.0K

Financial statements

Revenue74$0 in 2023
0$100.0K$200.0K$300.0K2021: $236.0K$236.0K20212022: $3.0K$3.0K2022−99%2023: $0$02023
Net income89746$9.4M in 2023−4% since 2019
0$5.0M$10.0M$15.0M2019: $9.8M$9.8M20192020: $11.2M$11.2M2020+14%2021: $11.0M$11.0M2021−1%2022: $14.5M$14.5M2022+32%2023: $9.4M$9.4M2023−36%

Every line of the income statement as filed: the last 2 fiscal years (annual) or 8 quarters (quarterly), latest first.5

Period ending2025-12-312024-12-31
Interest and fees on loans$82.4M$81.8M
Taxable interest income$4.4M$2.9M
Interest income exempt from federal income taxes$3.0K$16.0K
Dividends$388.0K$630.0K
Interest on deposits in banks$11.6M$5.9M
Interest on federal funds sold$235.0K$123.0K
Total interest and dividend income$99.0M$91.3M
Interest on deposits$32.2M$31.9M
Interest on Federal Home Loan Bank advances$2.8M$6.8M
Interest on subordinated debt$1.4M$1.4M
Total interest expense$36.4M$40.1M
Net interest income$62.6M$51.2M
Provision for credit losses$3.7M$2.6M
Net interest income after provision for credit losses$58.9M$48.7M
Wealth management fees$7.5M$5.6M
Service charges on deposit accounts$2.1M$1.9M
Other service charges and fees$4.2M$4.2M
(Loss) gain on the sale and disposal of bank premises and equipment-$19.0K$3.9M
(Loss) on sale of securities-$12.4M$0
Gain on sale of loans$3.4M$2.1M
Small business investment company income$251.0K$1.4M
Bank owned life insurance income$1.1M$2.0M
Other operating income$812.0K$476.0K
Total noninterest income$6.9M$21.6M
Salaries and employee benefits$33.2M$30.1M
Occupancy expenses$2.6M$2.1M
Equipment expenses$1.7M$1.7M
Advertising and marketing expenses$861.0K$1.0M
Stationery and supplies$134.0K$145.0K
ATM network fees$1.3M$1.5M
Other real estate owned expense$20.0K$0
Loss on sale of other real estate owned$51.0K$0
Loss on the sale of repossessed assets$302.0K$204.0K
FDIC assessment$948.0K$1.4M
Computer software expense$1.4M$1.1M
Bank franchise tax$1.5M$1.4M
Professional fees$2.4M$2.1M
Data processing fees$2.2M$2.4M
Loan servicing expense$1.1M$1.1M
Other operating expenses$6.1M$5.2M
Total noninterest expenses$55.9M$51.3M
Income before income taxes$9.9M$18.9M
Income Tax Expense$1.7M$3.6M
Net Income (Loss)$8.2M$15.3M
Net income per common share, basic$1.59$4.32
Net income per common share, diluted$1.59$4.32

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Corporate structure

EAGLE FINANCIAL SERVICES INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of EAGLE FINANCIAL SERVICES INC

  • Fourthstone LLC Filed SCHEDULE 13G/A on EAGLE FINANCIAL SERVICES INC, latest Aug 14, 2026 (6 filings since Nov 14, 2024)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G/A on EAGLE FINANCIAL SERVICES INC, latest Jul 31, 2026 (2 filings since Apr 29, 2026)
  • BlackRock Filed SCHEDULE 13G/A on EAGLE FINANCIAL SERVICES INC, latest Jul 28, 2026 (2 filings since Jan 21, 2026)
  • Wellington Management Company Filed SCHEDULE 13G/A on EAGLE FINANCIAL SERVICES INC, latest May 15, 2026 (2 filings since May 12, 2025)
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on EAGLE FINANCIAL SERVICES INC, latest Mar 26, 2026 (2 filings since Oct 30, 2025)
  • EAGLE FINANCIAL SERVICES INC Berryville, Virginia

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What EAGLE FINANCIAL SERVICES INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$30.4M5 Dec 31, 2025$29.8M5 Dec 31, 2024+2.3%
Accumulated depreciation$15.5M5 Dec 31, 2025$15.4M5 Dec 31, 2024+0.7%
Property and equipment, net$14.9M5 Dec 31, 2025$14.3M5 Dec 31, 2024+4.0%
Operating-lease assets (leased space)$9.4M5 Dec 31, 2025$9.6M5 Dec 31, 2024−2.1%

Investments

ItemLatestA year beforeChange
Debt securities available for sale$119.5M5 Dec 31, 2025$121.3M5 Dec 31, 2024−1.5%

Properties, in its own words

The Company owns or leases buildings which are used in normal business operations. The Company’s corporate headquarters, and that of Bank of Clarke, is located at 2 East Main Street, Berryville, Virginia, 22611. At December 31, 2025, Bank of Clarke operated fifteen full-service branches, one loan production office, and one drive-through only facility in the Virginia communities of Berryville, Winchester, Boyce, Stephens City, Purcellville, Warrenton, Leesburg, Ashburn and Fairfax. The Bank also operated one loan production office in the Maryland community of Frederick. See Note 1 “Nature of Banking Activities and Significant Accounting Policies” and Note 6 “Bank Premises and Equipment, Net” and Note 13 "Leases" in the “Notes to the Consolidated Financial Statements” of this Form 10-K for information with respect to the amounts at which bank premises and equipment are carried and commitments under long-term leases.

All of the Company’s properties are well maintained, are in good operating condition and are adequate for the Company’s present and anticipated future needs.

Item 2 of the 10-K filed Mar 16, 2026.3

Leadership

Who has led EAGLE FINANCIAL SERVICES INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. John R. Milleson2006–2014

President

  1. John R. Milleson2006–2014

Chief financial officer

  1. James W. McCarty Jr.2006–2013
  2. Kathleen J. Chappell2009–2014

Chief operating officer

  1. James W. McCarty Jr.2013–2014
2010201520202025
Board members and other officers (41)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorCary R. Nelson named Apr 15, 202256
  • DirectorThomas T. Gilpen named Apr 15, 202256

Timeline

  1. Sep 8, 20268-K Entered a material agreement; Regulation FD disclosure57
  2. Jul 23, 20268-K Results of operations; Regulation FD disclosure58
  3. May 20, 20268-K Shareholder vote59
  4. Apr 23, 20268-K Results of operations; Regulation FD disclosure60
  5. Jan 27, 20268-K Executive or director change61
  6. Jan 26, 20268-K Results of operations; Regulation FD disclosure62
  7. Jan 21, 20268-K Other events63
  8. Oct 23, 20258-K Results of operations; Regulation FD disclosure64
  9. Jul 24, 20258-K Results of operations; Regulation FD disclosure65
  10. May 22, 20258-K Executive or director change; Shareholder vote66
  11. Apr 25, 20258-K Results of operations; Regulation FD disclosure67
  12. Feb 13, 20258-K Other events68
  13. Jan 4, 2006New chief executive John R. Milleson becomes CEO13

Calendar

Coming up

  1. Oct 22, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $1.04 a share, on Oct 23, 2025.69

When it reported results

  1. Jul 23, 2026Reported quarterly or annual results58
  2. Apr 23, 2026Reported quarterly or annual results60
  3. Jan 26, 2026Reported quarterly or annual results62
  4. Oct 23, 2025Reported quarterly or annual results64
  5. Jul 24, 2025Reported quarterly or annual results65
  6. Apr 25, 2025Reported quarterly or annual results67
  7. Jan 27, 2025Reported quarterly or annual results70
  8. Oct 25, 2024Reported quarterly or annual results71

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

353 filings to the SEC since October 2021: 5 annual reports, 18 quarterly reports, 43 major events, 243 insider forms, 14 large holders, 1 private raises, 29 other. The latest 20:

  1. Sep 8, 2026425 EDGAR
  2. Sep 8, 2026425 EDGAR
  3. Sep 8, 2026425 EDGAR
  4. Sep 8, 2026425 EDGAR
  5. Sep 8, 20268-K EDGAR
  6. Aug 14, 2026SCHEDULE 13G/A EDGAR
  7. Aug 10, 202610-Q EDGAR
  8. Jul 31, 2026SCHEDULE 13G/A EDGAR
  9. Jul 28, 2026SCHEDULE 13G/A EDGAR
  10. Jul 23, 20268-K EDGAR
  11. Jun 30, 2026S-8 EDGAR
  12. May 20, 20264 EDGAR
  13. May 20, 20268-K EDGAR
  14. May 15, 2026SCHEDULE 13G/A EDGAR
  15. May 15, 2026SCHEDULE 13G/A EDGAR
  16. May 11, 202610-Q EDGAR
  17. May 1, 20264 EDGAR
  18. Apr 29, 2026SCHEDULE 13G EDGAR
  19. Apr 23, 20268-K EDGAR
  20. Apr 8, 2026DEFA14A EDGAR

The 353 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

44 open-market trades by officers, directors and large owners since October 2021: 39 buys and 5 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Apr 29, 2026SCHMIDT MARIANNEEXECUTIVE OFFICERSale388$37.95$14.7KForm 4
Mar 11, 2026HAMBERGER SCOTT MDirectorBuy909$33.00$30.0KForm 4
Mar 5, 2026HILL EDWARD IIIDirectorBuy939$34.62$32.5KForm 4
Mar 2, 2026Lorey Brandon CraigEXECUTIVE OFFICERBuy350$34.53$12.1KForm 4
Feb 27, 2026HAMBERGER SCOTT MDirectorBuy945$36.00$34.0KForm 4
Jan 30, 2026HAMBERGER SCOTT MDirectorBuy597$37.99$22.7KForm 4
Dec 3, 2025BRAITHWAITE TODD AEXECUTIVE OFFICERSale56$38.90$2.2KForm 4
Oct 29, 2025STOKELY JOHN D JRDirectorSale5,893$36.60$215.7KForm 4
Jul 31, 2025SMITH NICHOLAS PETEREXECUTIVE OFFICERBuy303$33.00$10.0KForm 4
Jun 12, 2025HILL EDWARD IIIDirectorBuy1,000$29.93$29.9KForm 4
Jun 2, 2025HAMBERGER SCOTT MDirectorBuy771$31.00$23.9KForm 4
May 23, 2025HAMBERGER SCOTT MDirectorBuy849$31.00$26.3KForm 4
Mar 4, 2025SCHMIDT MARIANNEEXECUTIVE OFFICERSale447$32.31$14.4KForm 4
Feb 7, 2025ZMITROVICH JOSEPH TEXECUTIVE OFFICERBuy312$32.00$10.0KForm 4
Feb 7, 2025BRAITHWAITE TODD AEXECUTIVE OFFICERBuy1,249$32.00$40.0KForm 4
Feb 7, 2025GILPIN THOMAS TDirectorBuy1,000$32.00$32.0KForm 4
Feb 7, 2025MATTHEWS TATIANA CDirectorBuy312$32.00$10.0KForm 4
Feb 7, 2025HAMBERGER SCOTT MDirectorBuy5,000$32.00$160.0KForm 4
Feb 7, 2025SMALLEY ROBERT W JRDirectorBuy100$32.00$3.2KForm 4
Feb 7, 2025SMITH NICHOLAS PETEREXECUTIVE OFFICERBuy156$32.00$5.0KForm 4

All 44 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Mar 31, 2022Raised $30 million in a private offering of debt Form D: 20 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 79. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.345,268$14.3M0.0%+64,736
Fourthstone LLC287,575$11.9M8.5%−244,624
Wellington Management Group Llp279,083$11.6M0.0%−1,317
Vanguard Capital Management LLC212,734$8.8M0.0%−31,008
Graham Capital Wealth Management, LLC135,623$5.6M4.3%−1,412
Geode Capital Management, LLC118,250$4.9M0.0%+15,041
State Street Corp90,307$3.7M0.0%+5,700
Alliancebernstein L.P.93,516$3.3M0.0%−10,200
Maltese Capital Management LLC65,700$2.7M0.5%−41,445
Two Sigma Investments, LP62,357$2.6M0.0%+45,944
Choreo, LLC60,400$2.5M0.0%No change
Banc Funds Co LLC56,500$2.3M0.4%−8,500
Marshall Wace, Llp51,423$2.1M0.0%+43,681
Dimensional Fund Advisors LP38,580$1.6M0.0%+14,485
Northern Trust Corp37,063$1.5M0.0%+3,225
Citadel Advisors LLC33,602$1.4M0.0%+26,184
Vanguard Portfolio Management LLC31,927$1.3M0.0%+5,357
Vanguard Fiduciary Trust Co30,455$1.3M0.0%+253
Susquehanna International Group, Llp28,909$1.2M0.0%New
UBS Group AG28,853$1.2M0.0%+19,454
Morgan Stanley27,997$1.2M0.0%−84
Trexquant Investment LP23,627$979.6K0.0%+12,396
Goldman Sachs Group Inc21,528$892.6K0.0%+1,794
Aqr Capital Management LLC20,001$829.2K0.0%+8,894
EJF Capital LP16,399$679.9K0.5%−7,511

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How EAGLE FINANCIAL SERVICES INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAREAGLE FINANCIAL SERVICES INC1
  • CIK0000880641
  • Employer ID (EIN)54-16013063
  • Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inVirginia3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6022 State Commercial Banks1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address2 E Main St, Berryville, VA 226111
  • Mailing addressPo Box 391, Berryville, VA 226111
  • Phone540-955-25101
  • Shares outstanding5,411,615 as of Aug 4, 202611
  • Public float$152.5M as of Jun 30, 20253
  • AuditorYount, Hyde & Barbour, P.C., Winchester, Virginia PCAOB ID 613; it also attests to the company’s internal control over financial reporting3
  • On EDGAR sinceJun 3, 19961
  • Filings1,455 in all: 4 (1,015), 8-K (185), 10-Q (92), 3 (31), DEF 14A (30), 10-K (26), 4/A (11), SCHEDULE 13G/A (9)1
    All 30 form types

    ARS (7), DEFA14A (5), UPLOAD (5), 10-K405 (4), 10-Q/A (4), 425 (4), S-8 (4), SCHEDULE 13G (4), CORRESP (3), 424B5 (2), S-3 (2), S-3D (2), 10-K/A (1), 8-A12B (1), CERT (1), D (1), DEFR14A (1), EFFECT (1), FWP (1), PRE 14A (1), SC 13D (1), SC 13G (1)

  • Latest filingsAnnual report (10-K) Mar 16, 2026
    Quarterly report (10-Q) Aug 10, 2026
    Proxy statement (DEF 14A) Apr 8, 2026
    Latest 8-K (8-K) Sep 8, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, Par Value $2.50EFSIThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Mar 16, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks EAGLE FINANCIAL SERVICES INC names in Item 1A of its 10-K filed Mar 16, 2026: 25 risks under these headings, as written.3

  • Credit Risks
  • The Company’s concentration in loans secured by real estate may increase its credit losses, which would negatively affect our financial results.
  • An inadequate allowance for credit losses would reduce our earnings.
  • Technology Risks
  • The Company’s operations may be adversely affected by cybersecurity risks.
  • Failure to keep pace with technological change could adversely affect our business.
  • Liquidity and Interest Rate Risks
  • The Company’s success depends upon its ability to manage interest rate risk.
  • Inflation can have an adverse impact on our business and on our customers.
  • The Company relies substantially on deposits obtained from customers in its target markets to provide liquidity and support growth.
  • The Company depends on the Bank for cash flow, and the Bank’s ability to make cash distributions is restricted, which could impact the Company’s ability to satisfy its obligations.
  • Market Risks
The other 17 risks
  • The Company’s success depends upon its ability to compete effectively in the banking industry.
  • The Company could be adversely affected by economic conditions in its market area.
  • The soundness of other financial institutions could adversely affect us.
  • Operational Risks
  • Our exposure to operational risk may adversely affect our business.
  • The Company may not be able to successfully manage its growth or implement its growth strategy, which may adversely affect results of operations and financial condition.
  • Severe weather, natural disasters, acts of war or terrorism, geopolitical instability, public health issues, and other external events could significantly impact the Company's business.
  • The Company relies heavily on its senior management team and the unexpected loss of key officers could adversely affect operations.
  • Legal, Regulatory and Compliance Risks
  • The Company operates in a highly regulated industry, and the laws and regulations that govern the Company’s operations, including changes in them or the Company’s failure to comply with them, and regulatory actions implementing such laws and regulations, may adversely affect the Company.
  • The Bank is subject to stringent capital and liquidity requirements as a result of the Basel III regulatory capital reforms and the Dodd-Frank Act.
  • Changes in accounting standards could impact reported earnings and capital.
  • Evolving expectations from customers, regulators, investors, and other stakeholders with respect to environmental, social and governance ("ESG") practices may impose additional costs on the Company or expose it to new or additional risks.
  • Climate change and related legislative and regulatory initiatives may result in operational changes and expenditures that could significantly impact the Company’s business.
  • Risks Relating to an Investment in Our Common Stock
  • There can be no assurances concerning continuing dividend payments.
  • There is a limited trading market for our common shares, and you may not be able to resell your shares at or above the price you paid for them.
  • The market price of our common stock may be volatile, and we may not be able to meet investor or analyst expectations. You may not be able to resell your shares at or above the price you paid and may lose part or all of your investment as a result.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, or change their recommendations regarding our common stock or if our operating results do not meet their expectations, the market price of our common stock and trading volume could decline.
  • Virginia law and the provisions of the Company’s articles of incorporation and amended and restated bylaws may have an anti-takeover effect, and there are substantial regulatory limitations on changes of control of bank holding companies.

Legal proceedings

There are no material pending legal proceedings to which the Company is a party or of which the property of the Company is subject.

The opening of Item 3, Legal Proceedings.3

Sources

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