Eagle Financial Services Q2 2024 10-Q Filed

TL;DR

**EFSI Q2 10-Q is in! Shows loan details & retained earnings.**

AI Summary

Eagle Financial Services Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and positions, including various asset and liability categories. Specific data points relate to retained earnings, commercial real estate loans, and consumer loans as of June 30, 2024, and December 31, 2023.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance data for Eagle Financial Services Inc., crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) with no immediate red flags or significant negative news indicated in the provided snippet.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Latest financial data available)
• 2023-12-31 — Prior Period End Date (Comparison point for financial trends)

Key Players & Entities

• EAGLE FINANCIAL SERVICES INC (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240814 (date) — Filing Date
• 540-955-2510 (phone_number) — Business Phone
• VA (location) — State of Incorporation
• 000-20146 (other) — SEC File Number

FAQ

Key Financial Figures

• $2.50 — hares of the registrant's Common Stock ($2.50 par value) outstanding as of August 8 ,

Filing Documents

• efsi-20240630.htm (10-Q) — 6696KB
• efsi-ex31_1.htm (EX-31.1) — 14KB
• efsi-ex31_2.htm (EX-31.2) — 14KB
• efsi-ex32_1.htm (EX-32.1) — 13KB
• 0000950170-24-096740.txt ( ) — 29772KB
• efsi-20240630.xsd (EX-101.SCH) — 1630KB
• efsi-20240630_htm.xml (XML) — 9827KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements: Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 1 Consolidated Statements of Income for the Three and Six Months Ended June 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2024 and 2023 3 Consolidated Statements of Changes in Shareholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 4 Consolidated Statements of Cash Flows for the Six Months Ended June 30, 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 34 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 54 Item 4.

Controls and Procedures

Controls and Procedures 54

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 55 Item 1A.

Risk Factors

Risk Factors 55 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 55 Item 3. Defaults Upon Senior Securities 55 Item 4. Mine Safety Disclosures 55 Item 5. Other Information 55 Item 6. Exhibits 56

- 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) June 30, 2024 December 31, 2023 (Unaudited) Assets Cash and due from banks $ 15,202 $ 15,417 Interest-bearing deposits with other institutions 45,977 96,649 Federal funds sold 62,476 26,287 Total cash and cash equivalents $ 123,655 $ 138,353 Securities available for sale, at fair value, amortized cost of $ 153,250 and $ 160,251 , respectively 129,489 137,443 Restricted investments, at cost 8,780 9,568 Loans held for sale 3,058 1,661 Loans 1,448,934 1,462,686 Allowance for credit losses ( 15,014 ) ( 14,493 ) Net Loans $ 1,433,920 $ 1,448,193 Bank premises and equipment, net 18,114 18,108 Bank owned life insurance 30,103 29,575 Other assets 43,286 42,696 Total assets $ 1,790,405 $ 1,825,597 Liabilities and Shareholders' Equity Liabilities Deposits: Noninterest bearing demand deposits $ 415,017 $ 436,619 Savings and interest bearing demand deposits 647,358 656,439 Time deposits 426,209 413,264 Total deposits $ 1,488,584 $ 1,506,322 Federal funds purchased 302 — Federal Home Loan Bank advances, short-term — 20,000 Federal Home Loan Bank advances, long-term 145,000 145,000 Subordinated debt, net of unamortized issuance costs 29,478 29,444 Other liabilities 15,926 16,452 Total liabilities $ 1,679,290 $ 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, 3,556,844 including 74,216 shares of unvested restricted stock; issued and outstanding 2023, 3,520,894 including 56,914 shares of unvested restricted stock 8,707 8,660 Surplus 14,604 14,280

View Full Filing

View this 10-Q filing on SEC EDGAR