Eagle Financial Services Q3 2024 Update

TL;DR

**Eagle Financial Services Q3: Assets and liabilities detailed, check filing for specifics.**

AI Summary

Eagle Financial Services Inc. reported its Q3 results for the period ending September 30, 2024. The company's filing details various financial assets and liabilities, including construction and farmland residential financing receivables, and other assets and liabilities. Specific dollar amounts and dates related to these financial instruments are provided within the report.

Why It Matters

This filing provides insight into the financial health and asset composition of Eagle Financial Services Inc., which can influence investor decisions and market perception.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative disclosures.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-14 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• EAGLE FINANCIAL SERVICES INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241114 (date) — Filing Date
• 540-955-2510 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• efsi-20240930.htm (10-Q) — 7033KB
• efsi-ex31_1.htm (EX-31.1) — 15KB
• efsi-ex31_2.htm (EX-31.2) — 15KB
• efsi-ex32_1.htm (EX-32.1) — 13KB
• 0000950170-24-126778.txt ( ) — 31006KB
• efsi-20240930.xsd (EX-101.SCH) — 1712KB
• efsi-20240930_htm.xml (XML) — 10176KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements: Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 1 Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2024 and 2023 3 Consolidated Statements of Changes in Shareholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Cash Flows for the Nine Months Ended September 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 37 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 58 Item 4.

Controls and Procedures

Controls and Procedures 58

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 59 Item 1A.

Risk Factors

Risk Factors 59 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 59 Item 3. Defaults Upon Senior Securities 59 Item 4. Mine Safety Disclosures 59 Item 5. Other Information 59 Item 6. Exhibits 60

- 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) September 30, 2024 December 31, 2023 (Unaudited) Assets Cash and due from banks $ 15,418 $ 15,417 Interest-bearing deposits with other institutions 162,187 96,649 Federal funds sold 3,586 26,287 Total cash and cash equivalents $ 181,191 $ 138,353 Securities available for sale, at fair value, amortized cost of $ 148,327 and $ 160,251 , respectively 130,051 137,443 Restricted investments, at cost 9,967 9,568 Loans held for sale 3,657 1,661 Loans 1,483,328 1,462,686 Allowance for credit losses ( 15,303 ) ( 14,493 ) Net Loans $ 1,468,025 $ 1,448,193 Bank premises and equipment, net 18,101 18,108 Bank owned life insurance 30,361 29,575 Other assets 40,348 42,696 Total assets $ 1,881,701 $ 1,825,597 Liabilities and Shareholders' Equity Liabilities Deposits: Noninterest bearing demand deposits $ 413,615 $ 436,619 Savings and interest bearing demand deposits 655,601 656,439 Time deposits 476,720 413,264 Total deposits $ 1,545,936 $ 1,506,322 Federal funds purchased 244 — Federal Home Loan Bank advances, short-term — 20,000 Federal Home Loan Bank advances, long-term 170,000 145,000 Subordinated debt, net of unamortized issuance costs 29,495 29,444 Other liabilities 18,182 16,452 Total liabilities $ 1,763,857 $ 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, 3,549,580 including 64,043 shares of unvested restricted stock; issued and outstanding 2023, 3,520,894 including 56,914 shares of unvested restricted stock 8,714 8,660 Surplus 14,633 14,

View Full Filing

View this 10-Q filing on SEC EDGAR