EAGLE FINANCIAL SERVICES, INC. COMPLETES $30.0 MILLION SUBORDINATED NOTES OFFERING

BERRYVILLE, Va., March 31, 2022 /PRNewswire/ -- Eagle Financial Services, Inc. (the "Company") (OTCQX: EFSI), the holding company for Bank of Clarke County (the "Bank"), announced today the completion of a private placement offering of 4.50% Fixed-to-Floating Rate Subordinated Notes due 2032 (the "Notes"), in the aggregate principal amount of $30.0 million, to certain qualified institutional buyers and accredited institutional investors.  The Company intends to use the net issuance proceeds for general corporate purposes, including a capital contribution to the Bank to support its continued organic growth.  The Notes are intended to qualify as Tier 2 capital for the Company for regulatory capital purposes.

Read more at prnewswire.com