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 (the “Bank”) which is chartered under Virginia law.

The Bank opened for business on April 1, 1881, and now has 14 full-service branches, two loan production offices, one wealth management office, and one drive-through only facility. The main office is located at 2 East Main Street in Berryville, Virginia with its additional offices located in Clarke County, Frederick County, Fauquier County, Loudoun County and Fairfax County, as well as the Towns of Leesburg and Purcellville and the City of Winchester. The Bank has a Maryland office located in Frederick. This market area is located in the Shenandoah Valley, Northern Virginia and Frederick, MD.

Business Diversity. Bank of Clarke is a 140-year-old financial institution delivering high tech, yet personalized service in some of Virginia’s most diversified markets and fastest growing metropolitan areas. The Bank attracts deposits from the general public and invests those funds in commercial, consumer, and real estate loans, as well as corporate, municipal, and U.S. government agency securities. In addition to retail and business banking and lending, the Bank has a wealth management division, which provides investing and trust services. The Company also operates LaVictoire Finance, which offers bespoke high-end marine financing for retail and commercial maritime customers.

Record of Sustained Profitability and Growth. For 2021, the Company reported net income of $11.0 million, net loan growth of $149.4 million and net deposit growth of $164.1 million. For 2020, the Company reported net income of $11.2 million, net loan growth of $191.6 million and net deposit growth of $241.6 million. Return on average assets was 0.90% and 1.11% for 2021 and 2020, respectively. Return on average equity was 10.28% and 11.03% for the years ended 2021 and 2020, respectively.

Experienced Management, Values, and Culture. The Bank has experienced management focused on building value. The Bank’s culture revolves around five core values – Leadership, Outstanding Service, Community, Adaptability, and Loyalty. It is consistently voted “Best Bank” by local publications and organizations and has high rates of employee satisfaction.