Eagle Financial Services Inc (NASDAQ: EFSI) is a community banking holding company that operates Bank of Clarke, a Virginia-based commercial bank. The bank attracts deposits from the general public and deploys those funds into commercial, consumer, and real estate loans as well as mortgage-backed securities, municipal bonds, and U.S. government agency securities. At December 31, 2025, the company held total assets of $1.89 billion, net loans of $1.46 billion, total deposits of $1.61 billion, and shareholders' equity of $188.8 million. Net interest income, the spread between interest earned on loans and securities and interest paid on deposits, is the primary revenue driver, totaling $62.6 million in FY2025. Noninterest income contributed $6.9 million in FY2025. The bank operates fifteen full-service branches, one drive-through facility, and two loan production offices across northern and central Virginia communities including Berryville, Winchester, Leesburg, Ashburn, and Fairfax, plus one loan production office in Frederick, Maryland, as of December 31, 2025. EFSI is headquartered at 2 East Main Street, Berryville, Virginia.

Revenue model

Net interest income from the spread between loan and investment yields and deposit funding costs is the dominant revenue stream, generating $62.6 million in FY2025 versus $51.2 million in FY2024. Noninterest income added $6.9 million in FY2025, down from $21.6 million in FY2024. The bank is funded primarily by retail and commercial deposits ($1.61 billion at December 31, 2025). EFSI is a dividend payer, declaring $1.24 per share in cash dividends in FY2025.

Products and services

Commercial real estate loans (secured by multi-family residential buildings, commercial buildings, offices, small shopping centers, and churches), construction and land development loans, consumer loans, residential mortgage loans, and investment securities portfolios including mortgage-backed securities, municipal bonds, and U.S. government agency securities. Deposit products insured by the FDIC.

Customers and end markets

General public depositors, commercial real estate developers, small business owners, consumers, and municipal entities in the northern Shenandoah Valley and northern Virginia markets. End markets include commercial real estate, residential real estate, small business lending, and consumer lending.

Value-chain role

Deposit-taking community bank that intermediates between retail and commercial depositors and borrowers in its local market. Subject to extensive federal and state banking regulation including FDIC insurance requirements and capital adequacy standards. Completed an underwritten public equity offering in early 2025, raising proceeds through the sale of 1,796,875 shares at $32.00 per share, and subsequently uplisted to NASDAQ.

Geographic exposure

Operates exclusively in Virginia and Maryland. Branches and facilities located in Berryville, Winchester, Boyce, Stephens City, Purcellville, Warrenton, Leesburg, Ashburn, and Fairfax, Virginia, with a loan production office in Frederick, Maryland, as of December 31, 2025.

Source: SEC 10-K, filed 2026-03-16

Industry: State Commercial Banks Peers: BankFinancial CORP Citizens Community Bancorp Inc COMMUNITY WEST BANCSHARES / First Community Corp (South Carolina) First Keystone Corp Landmark Bancorp Inc Pathfinder Bancorp Inc (MARYLAND) PNC Financial Services Group Inc