EAGLE FINANCIAL SERVICES Business Summary

Eagle Financial Services Inc. (EFSI) operates as the bank holding company for Bank of Clarke, generating revenue primarily through net interest income from a diverse loan portfolio and non-interest income derived from wealth management fees, service charges, and asset sales. The company’s operations are organized into three primary business segments: Community Banking, Marine Lending, and Wealth Management. Its core business model focuses on attracting retail and commercial deposits to fund a lending engine concentrated in commercial real estate, C&I, and residential mortgage products across the Shenandoah Valley and Northern Virginia. EFSI competes directly with regional financial institutions such as Atlanticus (ATLC), Mid Penn Bancorp (MPB), and HomeTrust Bancshares (HTB), positioning itself as a relationship-driven community bank that leverages a scalable commercial platform in high-growth Maryland and Virginia markets. Originally founded in 1881 as Bank of Clarke and established as a holding company in 1991, EFSI is currently led by President and CEO Brandon C. Lorey, a veteran banker who previously served as EVP at United Bank. The senior leadership team includes EVP and CFO Kathleen J. Chappell, formerly of Middleburg Financial, and President and Chief Banking Officer Joseph T. Zmitrovich, who brings a pedigree from BB&T and Susquehanna Bank. Operational and technical strategies are directed by COO Aaron M. Poffinberger and CTO Todd A. Braithwaite. As of February 2026, the company’s governance has been expanded with the appointments of Brian T. Strosser, a senior technology executive from ClearShark, and Susan D. Davies, Global Controller at Alight, Inc., to the Board of Directors, coinciding with the retirement of long-time director Robert W. Smalley, Jr.