Eagle Financial Services, Inc. Reports Net Charge-Offs for the First Quarter Ended March 31, 2022
May 02, 2022 at 04:45 pm EDT
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Eagle Financial Services, Inc. reported net charge-offs for the first quarter ended March 31, 2022. The Company realized $12,000 in net charge-offs for the first quarter ended March 31, 2022 versus $39,000 in net recoveries for the three months ended December 31, 2021. During the three months ended March 31, 2021, $61,000 in net recoveries were recognized.
Eagle Financial Services, Inc. is a bank holding company for Bank of Clarke (the Bank). The Bank offers a range of retail and commercial banking services, including demand, savings and time deposits and consumer, mortgage and commercial loans. The Company operates in three reportable business segments through the Bank: community banking, marine lending and wealth management. The Bank has over 13 full-service branches, two loan production offices, and one drive-through-only facility. The Bank has over 13 automated teller machine (ATM) locations in its trade area, and issues debit cards to deposit customers. The Bank offers telephone banking, Internet banking, and mobile banking to its customers. The Bank offers other commercial deposit account services, such as automated clearing house origination and remote deposit capture. The Bank has Virginia offices located in Clarke County, Frederick County, Fauquier County, Loudoun County, Fairfax County and other locations.
EAGLE FINANCIAL SERVICES, INC. 