#United States #Berryville #Bank of Clarke #EFSI #Eagle Financial Services

Eagle Financial Services Finalizes Stock Sale

Eagle Financial Services, Inc., the parent entity of Bank of Clarke, has announced the completion of an overallotment option leading to the issuance of 234,375 additional shares of common stock. This strategic move occurred following the recent public offering, marking a significant milestone for the company.

Details of the Offering

On February 13, 2025, the company confirmed that the underwriters exercised their option to buy more shares at the specified public offering price set at $32.00 per share. Such maneuvers are often employed by companies seeking to maximize their capital influx, and in this case, the estimated proceeds from this transaction should approximate $7.1 million, which will bolster the company’s financial position after accounting for the necessary deductions typically associated with stock offerings.

The stock is currently traded on the Nasdaq Capital Market under the ticker symbol 'EFSI'. The offering was managed by Keefe, Bruyette & Woods, a Stifel Company, which functioned as the sole bookrunner, while D.A. Davidson & Co. served in the capacity of lead manager.

Registration and Compliance

The stock issuance followed a registration statement on Form S-3, which received the green light from the Securities and Exchange Commission (SEC) on February 28, 2023. A final prospectus supplement related to this issue was filed with the SEC, providing prospective investors with vital information. Interested parties are encouraged to visit the SEC’s website or contact the underwriters for further details regarding the offering and the company's financial standing.

Investment Considerations

Investors are reminded that this announcement serves solely as a notification and does not constitute an offer or solicitation to purchase the company’s shares. The exchange complies with all legal requirements, ensuring there are no transactions in areas where such offers are prohibited.

About Eagle Financial Services

Founded in 1991 and headquartered in Berryville, Virginia, Eagle Financial Services, Inc. operates primarily through its subsidiary, Bank of Clarke. The bank provides various financial services including commercial and retail banking, along with trust and investment services, via 13 full-service branches and several other facilities spread across Clarke and Frederick Counties.

The institution has significantly contributed to local economic stability, positioning itself as an integral financial service provider in the region.

Forward-Looking Statements

It is important to note that the press release contains forward-looking statements, which may involve risks and uncertainties inherent in business operations. Current expectations about future performance or achievements are subject to change, depending largely on uncontrollable factors. As such, actual results may deviate substantially from predicted figures, and the company urges stakeholders to proceed with cautious optimism. For a full disclosure of risks, one can refer to the company's filings with the SEC, particularly the Form 10-K annual report, which outlines potential risk factors that could influence the company’s performance.

In conclusion, the recent stock issuance underscores Eagle Financial Services' commitment to its growth trajectory, enhancing its capabilities to serve the community while establishing a robust financial future. Investors looking for a promising engagement in the banking sector should take note of these developments as they reflect broader trends in financial services amid ongoing market dynamics.