Eagle Financial Services Inc(US:EFSI) Prnewswireยท2025-07-24 20:05Core Insights - Eagle Financial Services, Inc. reported a record net income of $5.3 million and earnings per share of $0.98 for the second quarter of 2025, marking a significant recovery from a net loss of $6.9 million in the previous quarter [2][3][33] - The company announced a quarterly cash dividend of $0.31 per common share, payable on August 15, 2025, to shareholders of record on August 4, 2025 [1][25] Financial Performance - Consolidated net income for the quarter ended June 30, 2025, was $5.3 million, an increase of $2.4 million or 85.4% from the adjusted net income of $2.8 million for the quarter ended March 31, 2025, and an increase of $2.1 million or 65.5% from $3.2 million for the quarter ended June 30, 2024 [3][11] - Net interest income increased by $2.4 million or 17.7% to $15.7 million compared to the previous quarter, and increased by 29.1% from $12.2 million in the same quarter last year [6][9] - The net interest margin improved to 3.42% for the quarter ended June 30, 2025, up from 2.98% in the previous quarter and 2.92% a year ago [10][34] Income Statement Highlights - Total loan interest income was $20.4 million for the quarter ended June 30, 2025, a 2.2% increase from $20.0 million in the previous quarter and a 4.6% increase from $19.5 million in the same quarter last year [4] - Noninterest income was $4.9 million for the quarter ended June 30, 2025, compared to a loss of $8.6 million in the previous quarter, driven by higher gains on loans held for sale [11][12] Balance Sheet Overview - Total consolidated assets increased by $130.6 million or 6.86% to $2.04 billion as of June 30, 2025, compared to $1.90 billion at March 31, 2025 [19] - Total deposits rose to $1.77 billion as of June 30, 2025, an increase of $152.7 million from $1.61 billion at March 31, 2025, primarily due to large deposits in non-interest bearing accounts [21] Asset Quality and Credit Losses - Nonperforming assets remained stable at $17.5 million or 0.86% of total assets as of June 30, 2025, unchanged from the previous quarter [13] - The allowance for credit losses to total loans ratio was 1.11% as of June 30, 2025, up from 1.05% at March 31, 2025 [18] Capital and Dividends - Total consolidated equity increased by $68.5 million to $179.6 million at June 30, 2025, compared to the previous year [26][28] - The company completed a public offering in the first quarter of 2025, raising net proceeds of $53.5 million [26]