The pending John Marshall merger is the key catalyst — monitor shareholder vote and regulatory approvals. The Q3 earnings miss (YoY decline) combined with rising expenses and credit costs suggests limited near-term upside without deal completion. Watch for Q4 expense trends and merger integration updates.
Price Chart
Executive Summary
Eagle Financial Services reported Q3 2026 GAAP net income of $4.8M ($0.88 EPS), down 14.9% YoY from $5.6M ($1.04 EPS) in Q3 2025. Adjusted net income (excluding merger costs) was $5.0M, down 10.1% YoY. Net interest margin improved to 3.95% from 3.58% a year ago, and loans grew 2.2% linked-quarter. The company also announced a $0.31/share quarterly dividend and is pursuing a pending merger with John Marshall Bancorp.
Key Financial Metrics
Key Facts
- Q3 2026 GAAP net income: $4.8M vs $5.6M in Q3 2025 (-14.9% YoY)
- GAAP EPS: $0.88 vs $1.04 in Q3 2025 (-15.4% YoY)
- Adjusted net income (ex-merger costs): $5.0M vs $5.6M in Q3 2025 (-10.1% YoY)
- Net interest margin improved to 3.95% from 3.58% YoY
- Net loans grew $32.4M (+2.2%) linked-quarter to $1.51B
- Total deposits increased $21.3M (+1.3%) linked-quarter to $1.62B
- Quarterly dividend declared: $0.31/share, payable Nov 13, 2026
- Merger-related expenses of $342K incurred in Q3 for pending John Marshall Bancorp merger
- Nonperforming assets: $16.0M (0.86% of total assets), up from $14.3M (0.74%) a year ago
- Provision for credit losses on loans: $1.3M vs $1.1M in Q3 2025
- Efficiency ratio worsened to 68.76% from 64.06% a year ago
Financial Impact
GAAP net income declined $834K YoY (-14.9%); adjusted net income declined $564K YoY (-10.1%). Noninterest expenses rose $1.8M (+12.4%) YoY, driven by higher salaries and benefits.
Risk Factors
- Pending merger with John Marshall Bancorp may not close or may be delayed
- Nonperforming assets increased 12.1% YoY to $16.0M
- Noninterest expenses rising faster than revenue (efficiency ratio 68.76% vs 64.06% a year ago)
- Accumulated other comprehensive loss widened to $8.2M from $5.6M a year ago
- Deposit base declined $32M YoY, though stable linked-quarter
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0000880641-26-000027 |
| Document: q3_2026_425_filing.htm | 0000880641-26-000027 |
| Document: efsi-ex99_2.htm | 0000880641-26-000027 |
| Document: 0000880641-26-000027-index-headers.html | 0000880641-26-000027 |
| Document: 0000880641-26-000027-index.html | 0000880641-26-000027 |
| Document: 0000880641-26-000027.txt | 0000880641-26-000027 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 425 | $46.93 $46.32 | ▲ +1.30% | ▲ +2.01% | $46.32 (+1.30%) |
Oct 22, 2026 5d ago | 8-K | $46.93 $46.32 | ▼ −1.30% | ▼ −2.01% | $46.32 (−1.30%) |
Oct 22, 2026 5d ago | Press Release | $46.93 $46.32 | ▼ −1.30% | ▼ −2.01% | $46.32 (−1.30%) |
Oct 16, 2026 11d ago | DEFM14A | $45.89 $45.65 | ▼ −0.52% | ▼ −0.95% | $46.32 (+0.94%) |
Jul 23, 2026 13w ago | 8-K | $40.48 $40.14 | ▼ −0.84% | ▼ −0.86% | $46.32 (+14.43%) |
Jul 23, 2026 13w ago | Press Release | $40.48 $40.14 | ▲ +0.84% | ▲ +0.86% | $46.32 (−14.43%) |
Jun 11, 2026 19w ago | Institutional Cluster | $42.76 $43.13 | ▲ +0.87% | ▲ +0.32% | $46.32 (+8.33%) |
Apr 8, 2026 28w ago | DEFA14A | $37.20 $38.76 | ▲ +4.18% | ▲ +3.61% | $46.32 (+24.50%) |
Mar 5, 2026 33w ago | Insider Cluster | $34.27 $34.52 | ▲ +0.74% | ▲ +2.05% | $46.32 (+35.17%) |
Feb 27, 2026 34w ago | Insider Cluster | $34.43 $34.71 | ▲ +0.82% | ▲ +0.77% | $46.32 (+34.55%) |
US Market Status
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