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Eagle Financial Services (EFSI)

Eagle Financial Services Inc. (the “Company”) 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 County (the “Bank”). The Bank is chartered under Virginia law. The Bank has twelve full-service branches and one drive-through only facility. The Bank’s main office is located at 2 East Main Street in Berryville, Virginia. The Bank opened for business on April 1, 1881. The Bank has offices located in Clarke County, Frederick County, and Loudoun County, as well as the Towns of Leesburg and Purcellville and the City of Winchester. This market area is located in the Shenandoah Valley and Northern Virginia.

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

12 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 32.14M 32.14M 32.14M 32.14M 32.14M 32.14M
Cash burn (monthly) 21.26M 6.03M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 30.93M 8.77M n/a n/a n/a n/a
Cash remaining 1.21M 23.37M n/a n/a n/a n/a
Runway (months of cash) 0.1 3.9 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
4 Aug 22 Milleson John R Common Stock, $2.50 Par Value Buy Acquire P No No 36.2 100 3.62K 137,164.019
27 Jul 22 Thomas T BYRD Common Stock, $2.50 Par Value Grant Acquire A Yes No 0 600 0 62,069
27 Jul 22 Cary R Claytor Common Stock, $2.50 Par Value Grant Acquire A No No 0 600 0 3,165.707
27 Jul 22 Gilpin Thomas T Common Stock, $2.50 Par Value Grant Acquire A No No 0 600 0 46,690
27 Jul 22 Mary Bruce Glaize Common Stock, $2.50 Par Value Grant Acquire A No No 0 600 0 13,467.554

Financial report summary

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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 loan losses would reduce our earnings.
  • The ongoing COVID-19 pandemic and measures intended to prevent its spread may adversely affect our business, financial condition and operations; the extent of such impacts are highly uncertain and difficult to predict.
  • The Company’s operations may be adversely affected by cyber security risks.
  • Failure to keep pace with technological change could adversely affect our business.
  • The Company’s success depends upon its ability to manage interest rate risk.
  • 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.
  • 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.
  • Government measures to regulate the financial industry, including the Dodd-Frank Act, subject us to increased regulation and could adversely affect us.
  • 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.
  • Increasing scrutiny and 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.
  • There can be no assurances concerning continuing dividend payments.
  • The stock market can be volatile, and fluctuations in our operating results and other factors could cause our stock price to decline.
Management Discussion
  • Net income for the six months ended June 30, 2022 was $7.2 million, an increase of 23.48% or $1.4 million when compared to the same period in 2021.   Net income for the three months ended June 30, 2022 was $3.9 million, an increase of 32.93% or $989 thousand when compared to the same period in 2021.  Earnings per share, basic and diluted were $2.08 and $1.71 for the six months ended June 30, 2022 and 2021, respectively.  Earnings per share, basic and diluted were $1.14 and $0.87 for the three months ended June 30, 2022 and 2021, respectively
  • Return on average assets ("ROA") measures how efficiently the Company uses its assets to produce net income. Some issues reflected within this efficiency include the Company’s asset mix, funding sources, pricing, fee generation, and cost control. The ROA of the Company, on an annualized basis, for the six months ended June 30, 2022 and 2021 was 1.08% and 1.01%, respectively.
  • Return on average equity ("ROE") measures the utilization of shareholders’ equity in generating net income. This measurement is affected by the same factors as ROA with consideration to how much of the Company’s assets are funded by shareholders. The ROE of the Company, on an annualized basis, for the six months ended June 30, 2022 and 2021 was 13.91% and 11.19%, respectively.

Content analysis

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Positive
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Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
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