EFSI Eagle Financial Services
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.
Company profile
Ticker
EFSI
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
541601306
Calendar
30 Mar 21
13 Apr 21
31 Dec 21
Financial summary
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Financial data from company earnings reports.
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 12 Mar 21 | Rinker Douglas Clay | Common Stock, $2.50 Par Value | Grant | Aquire A | No | No | 31.8 | 300 | 9.54K | 16,910.809 |
| 11 Mar 21 | Rinker Douglas Clay | Common Stock, $2.50 Par Value | Grant | Aquire A | No | No | 31.36 | 1,239 | 38.86K | 16,610.809 |
| 8 Mar 21 | Hamberger Scott M | Common Stock, $2.50 Par Value | Sell | Dispose S | No | No | 30.38 | 200 | 6.08K | 816 |
| 8 Mar 21 | Hamberger Scott M | Common Stock, $2.50 Par Value | Sell | Dispose S | No | No | 30.35 | 470 | 14.26K | 1,016 |
| 2 Mar 21 | Milleson John R | Common Stock, $2.50 Par Value | Buy | Aquire P | No | No | 30.15 | 100 | 3.02K | 130,923.096 |
| 19 Feb 21 | Wilkins James R JR | Common Stock, $2.50 Par Value | Buy | Aquire P | No | No | 29 | 179 | 5.19K | 183,793 |
| 18 Feb 21 | Wilkins James R JR | Common Stock, $2.50 Par Value | Buy | Aquire P | No | No | 29 | 35 | 1.02K | 183,614 |
| 4 Jan 21 | Brandon Craig Lorey | Common Stock, $2.50 Par Value | Grant | Aquire A | No | No | 0 | 2,600 | 0 | 15,738 |
Financial report summary
?Risks
- 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 concentration in loans secured by real estate may increase its credit losses, which would negatively affect our financial results.
- 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.
- 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 more stringent capital and liquidity requirements as a result of the Basel III regulatory capital reforms and the Dodd-Frank Act.
- 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 2020 was $11.2 million, an increase of $1.4 million or 14.48% from 2019’s net income of $9.8 million. Basic and diluted earnings per share were $3.27 and $2.84 for 2020 and 2019, 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, was 1.11%, 1.18%, and 1.16% for 2020, 2019, and 2018, 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 the shareholders. The ROE for the Company was 11.03%, 10.60%, and 10.67% for 2020, 2019, and 2018, respectively.
Content analysis
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New words:
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Removed:
abusive, attempt, attempting, attributable, authorization, balloon, beneficial, BSA, consecutive, deteriorate, diligence, evade, explicit, expressed, failed, FinCEN, Formal, illegal, lawful, obtaining, overnight, Payday, pension, procuring, projected, receipt, renegotiate, retired, sector, slight, slightly, suspect, target, unfair, unqualified, usage, utilize, Vehicle, verify
Financial reports
10-K
2020 FY
Annual report
30 Mar 21
10-Q
2020 Q3
Quarterly report
6 Nov 20
10-Q
2020 Q2
Quarterly report
7 Aug 20
10-Q
2020 Q1
Quarterly report
11 May 20
10-K
2019 FY
Annual report
13 Mar 20
10-Q
2019 Q3
Quarterly report
8 Nov 19
10-Q
2019 Q2
Quarterly report
8 Aug 19
10-Q
2019 Q1
Quarterly report
9 May 19
10-K
2018 FY
Annual report
15 Mar 19
10-Q
2018 Q3
Quarterly report
8 Nov 18
Current reports
8-K
Departure of Directors or Certain Officers
7 Apr 21
8-K
Departure of Directors or Certain Officers
19 Feb 21
8-K
Eagle Financial Services, Inc. Announces 2020 Fourth Quarter and Annual Financial Results
29 Jan 21
8-K
Regulation FD Disclosure
11 Dec 20
8-K
Eagle Financial Services, Inc. Announces 2020 Third Quarter Financial Results
23 Oct 20
8-K
Announces 2020 Second Quarter
28 Jul 20
8-K
Announces Quarterly Dividend
23 Jul 20
8-K
Submission of Matters to a Vote of Security Holders
19 May 20
8-K
Announces 2020 First Quarter
4 May 20
8-K
Announces Quarterly Dividend
22 Apr 20
Proxies
DEFA14A
Additional proxy soliciting materials
7 Apr 21
DEF 14A
Definitive proxy
7 Apr 21
DEF 14A
Definitive proxy
17 Apr 20
DEF 14A
Definitive proxy
12 Apr 19
DEF 14A
Definitive proxy
12 Apr 18
DEF 14A
Definitive proxy
13 Apr 17
DEF 14A
Definitive proxy
14 Apr 16
DEF 14A
Definitive proxy
16 Apr 15
DEF 14A
Definitive proxy
20 Apr 14
DEF 14A
Definitive proxy
14 Apr 13
Ownership
4
EAGLE FINANCIAL SERVICES / Kathleen J Chappell ownership change
15 Mar 21
4
EAGLE FINANCIAL SERVICES / JOSEPH T ZMITROVICH ownership change
15 Mar 21
4
EAGLE FINANCIAL SERVICES / CARL A ESTERHAY ownership change
15 Mar 21
4
EAGLE FINANCIAL SERVICES / Kaley Ann Crosen ownership change
15 Mar 21
4
EAGLE FINANCIAL SERVICES / Brandon Craig Lorey ownership change
15 Mar 21
4
EAGLE FINANCIAL SERVICES / Douglas Clay Rinker ownership change
12 Mar 21
4
EAGLE FINANCIAL SERVICES / SCOTT M HAMBERGER ownership change
9 Mar 21
4
EAGLE FINANCIAL SERVICES / JOHN R MILLESON ownership change
3 Mar 21
4
EAGLE FINANCIAL SERVICES / JAMES R WILKINS JR ownership change
22 Feb 21
4
EAGLE FINANCIAL SERVICES / JOSEPH T ZMITROVICH ownership change
6 Jan 21