Eagle Financial Services, Inc. (EFSI) Launches Share Offering

Eagle Financial Services, Inc. (OTCQX: EFSI) (the "Company"), parent company of Bank of Clarke, announced today that it has launched an underwritten public offering of shares of its common stock. The Company intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. In connection with the offering, the Company's common stock has been approved for listing on the Nasdaq Capital Market under the symbol "EFSI."

The Company intends to use the net proceeds from this offering for general corporate purposes, which may include balance sheet restructuring through the repositioning of our available-for-sale debt securities portfolio, and to support our capital ratios and our continued growth.

Keefe, Bruyette & Woods, A Stifel Company is serving as the sole bookrunner for the offering, and D.A. Davidson & Co. is acting as the lead manager.

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