On February 10, 2025, Eagle Financial Services, Inc. closed the underwritten public offering of 1,562,500 shares of its common stock at a public offering price of $32.00 per share. In connection with the offering, its shares began trading on the Nasdaq Capital Market. Additionally, on February 13, 2025, the underwriters exercised their overallotment option and completed the sale of an additional 234,375 shares of common stock at the public offering price of $32.00 per share. In aggregate, the gross proceeds of the underwritten public offering were $57.5 million.

Eagle Financial Services, Inc. is the holding company for Bank of Clarke, which operates thirteen full-service branches throughout Virginia.

Luse Gorman served as legal counsel to Eagle Financial Services in the equity offering. The Luse Gorman team consisted of Scott Brown, Greg Sobczak, Ellie Cook and Anahita Mohtasham.

Luse Gorman was the No. 1 legal advisor in the nation for 2023 and 2024, based on number of transactions, for equity offerings by financial institutions, as reported by S&P Global Market Intelligence. To learn more about our Capital Markets and Corporate Finance practice, please visit our website.