Eagle Financial Services

What Eagle Financial Services does

Eagle Financial Services, Inc. is a Virginia-incorporated bank holding company (NASDAQ: EFSI) that conducts all of its operations through its wholly-owned subsidiary, Bank of Clarke, a Virginia-chartered, FDIC-insured community bank founded in 1881 and headquartered in Berryville, Virginia. The company offers a full suite of retail and commercial banking products, including deposit accounts (checking, savings, money market, time deposits), commercial real estate and C&I lending, consumer and residential mortgage lending, and SBA loan origination, alongside a wealth management division providing investment management, trust, and fiduciary services. A niche marine financing subsidiary, LaVictoire Finance, provides bespoke high-end marine lending to retail and commercial maritime customers, adding a specialized product line beyond traditional community banking. The bank's technology platform is described as a standard commercial banking stack with no proprietary components disclosed, supporting a relationship-based distribution model rather than a digital-first approach.

The business model is anchored in net interest income from a $1.44 billion net loan portfolio funded by $1.60 billion in deposits, supplemented by recurring wealth management fees (Q1 2026: $1.78M, up 6.0% year-over-year), transaction-based service charges on deposit accounts, and gain-on-sale income from SBA and mortgage loan sales ($10.0M of SBA loans sold in Q1 2026). Eagle Financial Services distributes these products through 14 full-service branches plus 2 loan production offices, 1 wealth management office, and 1 drive-through facility across Virginia (Clarke, Frederick, Fauquier, Loudoun, and Fairfax counties, plus the towns of Leesburg, Purcellville, and Winchester) and Frederick, Maryland, serving retail consumers, small and mid-sized businesses, and high-net-worth individuals. The company is led by President & CEO Brandon C. Lorey (appointed July 8, 2019) and CFO Kathleen J. Chappell (in role since January 2009), and it completed a NASDAQ uplist and $60.6M capital raise in Q1 2025, alongside a balance sheet repositioning that materially improved net interest margin.

Name

Eagle Financial Services

Legal name

Eagle Financial Services, Inc.

Website

https://investors.bankofclarke.bank/overview/default.aspx

Company type

Public

Founded year

1881

Operating status

Operating

Headcount range

101–250 employees

Short description

Eagle Financial Services is a Virginia-based bank holding company operating through its Bank of Clarke subsidiary, providing retail and commercial banking, wealth management, and marine finance across 14 branches in Virginia and Maryland.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (522110), Depository Credit Intermediation (5221), Portfolio Management and Investment Advice (523940), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institutions, Not Federally Chartered (6036), Investment Advice (6282)

akta.pro industry

PRIMARYFSAKAGAI

SBA/Government-Backed & Development Finance Loans

Financial & Insurance/Lending & Consumer Finance/Small Business & Microenterprise Lending

SECONDARYFSAEAEAI

SBA/USDA Government-Backed Loan Intermediation

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Mortgage Brokerage & Loan Intermediation

Keywords

• Community banking services
• Commercial lending
• Retail deposit accounts
• Wealth management services
• Marine finance lending

Headquarters

HQ city

Berryville

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from loan portfolio minus interest expense on deposits and borrowings. Core banking revenue stream from spread between lending rates and deposit rates.
2. Wealth Management Fees: Fiduciary activities income and commissions from sale of non-deposit investment products. Fee income from managing client assets and estates.
3. Service Charges on Deposit Accounts: Fees charged on deposit accounts including overdraft fees and maintenance charges.
4. Gain on Sale of Loans: Income from selling SBA loans and mortgage loans held for sale, including $10.0M SBA loans sold in Q1 2026.
5. Marine Financing (LaVictoire Finance): Bespoke high-end marine financing for retail and commercial maritime customers.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Eagle Financial Services is a bank holding company that, through its wholly-owned subsidiary Bank of Clarke, provides retail and commercial deposit products, consumer and commercial lending (including commercial real estate, C&I, SBA, and residential mortgage loans), wealth management and trust services, and through LaVictoire Finance, bespoke high-end marine financing. Revenue is driven primarily by net interest income on its $1.44 billion loan portfolio funded by $1.60 billion in deposits, supplemented by wealth management fees, deposit service charges, and gains on sale of SBA and mortgage loans.

Product overview

Eagle Financial Services, Inc. is a bank holding company operating through its subsidiary Bank of Clarke, offering a comprehensive suite of banking products and services. The company provides retail and business banking (deposits, commercial lending, consumer lending, real estate loans), a wealth management division for investing and trust services, and LaVictoire Finance for specialized marine financing. The company operates 14 full-service branches across Virginia and Maryland with a focus on commercial banking, wealth management fees, and SBA/mortgage lending activities.

Differentiator

Problem solved

Functional benefit

Brands

• Bank of Clarke: Full-service banking subsidiary providing commercial banking, retail and business banking and lending, and wealth management services.

Products and services

• Bank of Clarke Retail and Business Banking Full-service commercial and retail banking through Bank of Clarke, providing deposit products (checking, savings, money market accounts, time deposits) and lending services (commercial, consumer, and real estate loans) to individuals and businesses across Virginia and Maryland.
• Wealth Management Division Provides investing and trust services to customers, generating wealth management fees and fiduciary income through asset management, estate services, and commissions on non-deposit investment products for high-net-worth individuals and families.
• LaVictoire Finance Marine Financing Bespoke high-end marine financing for retail and commercial maritime customers, offered through the LaVictoire Finance subsidiary of Eagle Financial Services.
• Small Business Administration (SBA) Lending SBA loan origination, servicing, and sale on the secondary market, including SBA 7(a) and PPP loans, generating gain-on-sale income for the Company.
• Residential Mortgage Lending Residential mortgage loan origination and sale capabilities through Bank of Clarke, with mortgage loans sold on the secondary market generating gain-on-sale income.

Quantifiable outcome

• Net interest margin increased to 3.63% in Q1 2026 from 2.98% in Q1 2025
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators10 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• United Bankshares: United Bankshares (UBSI) is a Charleston, WV-based regional bank holding company operating across WV, VA, MD, OH, and DC with ~$26B in assets. Direct peer: overlapping VA/MD geography, similar community/commercial banking model, and publicly traded on NASDAQ — a key comp for Eagle's growth trajectory and valuation.
• Atlantic Union Bankshares: Atlantic Union Bankshares (AUB) is a Richmond, VA-based bank holding company with ~$20B in assets operating primarily in Virginia. Direct peer: headquartered in VA, similar commercial/community banking focus, and dominant in many of the same mid-Atlantic markets where Eagle competes.
• TowneBank: TowneBank (TOWN) is a Portsmouth, VA-based community bank holding company with ~$16B in assets serving Virginia and North Carolina. Direct peer: VA-headquartered, similar community banking philosophy with strong branch footprint, and offers wealth management — closely comparable business mix to Eagle.
• Burke & Herbert Financial Services: Burke & Herbert Financial Services (BHRB) is an Alexandria, VA-based community bank that recently IPO'd in 2023. Direct peer: similar community banking model, overlapping Northern Virginia market, and comparable size (~$2-3B assets) — most directly comparable public peer for Eagle's market position.
• First National Corporation: First National Corporation (FXNC) is a Stratford, VA-based bank holding company with ~$1.4B in assets operating in Virginia. Direct peer: similar sub-$2B asset size, VA-headquartered community bank model, and serves similar Shenandoah Valley / Northern Virginia markets as Eagle.
• Old Point Financial Corporation: Old Point Financial Corporation (OPOF) is a Hampton, VA-based bank holding company with ~$1.5B in assets operating in Virginia. Direct peer: similar community bank size profile, VA-headquartered, and traditional commercial/retail banking model directly comparable to Eagle Financial Services.
• City Holding Company: City Holding Company (CHCO) is a Charleston, WV-based bank holding company with ~$6B in assets operating across WV, VA, and KY. Direct peer: similar community bank model with strong branch network, overlapping VA market exposure, and comparable operating metrics to Eagle Financial Services.

Broad incumbents

• Truist Financial Corporation: Truist Financial (TFC) is a Charlotte, NC-based super-regional bank with ~$530B in assets formed from the BB&T and SunTrust merger. Broad incumbent: operates extensively across Virginia (including Northern Virginia where Eagle competes), provides significant competitive pressure in commercial banking, deposits, and wealth management.
• Capital One Financial: Capital One Financial (COF) is a McLean, VA-based Fortune 500 bank holding company with ~$480B in assets. Broad incumbent: headquartered in Eagle's core Northern Virginia market, competes for retail deposits and consumer lending, and represents significant competitive gravity in the local market.
• M&T Bank Corporation: M&T Bank Corporation (MTB) is a Buffalo, NY-based bank holding company with ~$210B in assets operating across the Northeast and Mid-Atlantic including VA/MD. Broad incumbent: larger regional bank with overlapping Mid-Atlantic geography, similar commercial banking business mix, and typical large-bank competitive pressure on Eagle's markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eagle Financial Services