Eagle Financial Services Files Amended 10-Q

TL;DR

EFSI filed an amended 10-Q for Q1 2024, check for updated financials.

AI Summary

Eagle Financial Services Inc. filed an amended 10-Q for the period ending March 31, 2024. The filing, dated January 24, 2025, provides updated financial information for the company, which operates in the commercial banking sector.

Why It Matters

This amended filing provides updated financial disclosures for Eagle Financial Services Inc., crucial for investors and analysts assessing the company's performance and financial health.

Risk Assessment

Risk Level: low — This is a routine amended filing providing updated financial information, not indicating new or significant risks.

Key Numbers

• 20240331 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 20250124 — Filing Date (The date the amended 10-Q was submitted to the SEC.)

Key Players & Entities

• EAGLE FINANCIAL SERVICES INC (company) — Filer of the 10-Q/A
• 0000880641 (company) — Central Index Key for Eagle Financial Services Inc.
• 20240331 (date) — Conformed period of report
• 20250124 (date) — Filing date

FAQ

Key Financial Figures

• $2.50 — hares of the registrant's Common Stock ($2.50 par value) outstanding as of May 9 , 20

Filing Documents

• efsi-20240331.htm (10-Q/A) — 7254KB
• efsi-ex31_1.htm (EX-31.1) — 15KB
• efsi-ex31_2.htm (EX-31.2) — 15KB
• efsi-ex32_1.htm (EX-32.1) — 14KB
• 0000950170-25-008893.txt ( ) — 30567KB
• efsi-20240331.xsd (EX-101.SCH) — 1599KB
• efsi-20240331_htm.xml (XML) — 9864KB

- Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Part I - Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

- Item 6. Exhibits

Part II - Item 6. Exhibits Except for the foregoing, no other changes have been made to the Original Filing. This Amendment No. 1 speaks as of the date of the Original Filing and does not reflect events that may have occurred subsequent to the Original Filing. Pursuant to the rules of the SEC, Part II, Item 6 of the Original Filing has been amended to include the currently dated certifications from our principal executive officer and principal financial officer, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. The certifications of the principal executive officer and principal financial officer are included in this Form 10-Q/A as Exhibits 31.1, 31.2 and 32.1. TABLE OF CONTENTS

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements: Consolidated Balance Sheets at March 31, 2024 and December 31, 2023 1 Consolidated Statements of Income for the Three Months Ended March 31, 2024 and 2023 2 Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 3 Consolidated Statements of Changes in Shareholders' Equity for the Three Months Ended March 31, 2024 and 2023 4 Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 36 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 55 Item 4.

Controls and Procedures

Controls and Procedures 55

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 56 Item 1A.

Risk Factors

Risk Factors 56 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 56 Item 3. Defaults Upon Senior Securities 56 Item 4. Mine Safety Disclosures 56 Item 5. Other Information 56 Item 6. Exhibits 57

- FINANCI AL INFORMATION

PART I - FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements EAGLE FINANCIAL SERVICES, INC. Consolidated B alance Sheets (dollars in thousands, except per share amounts) March 31, 2024 December 31, 2023 (Unaudited) Assets Cash and due from banks $ 12,887 $ 15,417 Interest-bearing deposits with other institutions 55,393 96,649 Federal funds sold 59,353 26,287 Total cash and cash equivalents $ 127,633 $ 138,353 Securities available for sale, at fair value, amortized cost of $ 156,962 and $ 160,251 , respectively 131,867 137,443 Restricted investments, at cost 9,239 9,568 Loans held for sale 1,593 1,661 Loans 1,439,052 1,462,686 Allowance for credit losses ( 14,448 ) ( 14,493 ) Net Loans $ 1,424,604 $ 1,448,193 Bank premises and equipment, net 17,954 18,108 Bank owned life insurance 29,843 29,575 Other assets 40,168 42,696 Total assets $ 1,782,901 $ 1,825,597 Liabilities and Shareholders' Equity Liabilities Deposits: Noninterest bearing demand deposits $ 424,869 $ 436,619 Savings and interest bearing demand deposits 666,730 656,439 Time deposits 382,343 413,264 Total deposits $ 1,473,942 $ 1,506,322 Federal funds purchased 347 — Federal Home Loan Bank advances, short-term 10,000 20,000 Federal Home Loan Bank advances, long-term 145,000 145,000 Subordinated debt, net of unamortized issuance costs 29,461 29,444 Other liabilities 16,446 16,452 Total liabilities $ 1,675,196 $ 1,717,218 Commitments and contingencies Shareholders' Equity Preferred stock, $ 10 par value; 500,000 shares authorized and unissued $ — $ — Common stock, $ 2.50 par value; authorized 10,000,000 shares; issued and outstanding 2024, 3,557,229 including 75,297 shares of unvested restricted stock; issued and outstanding 2023, 3,520,894 including 56,914 shares of unvested restricted stock 8,705 8,660 Surplus 14,368 14

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View this 10-Q/A filing on SEC EDGAR