Condensed Financial Information - Parent Company Only

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information - Parent Company Only

Condensed Financial Information – Parent Company Only

EAGLE FINANCIAL SERVICES , INC.

(Parent Company Only)

Balance Sheets

December 31, 2013 and 2012

(dollars in thousands)

	2013		2012
Assets
Cash held in subsidiary bank	$	419	$	1,488
Due from banks	504		504
Securities available for sale	2,893		3,261
Investment in subsidiaries, at cost, plus undistributed net income	69,692		65,574
Other assets	575		756
Total assets	$	74,083	$	71,583
Liabilities and Shareholders’ Equity
Trust preferred capital notes	$	7,217	$	7,217
Other liabilities	460		660
Total liabilities	$	7,677	$	7,877
Shareholders’ Equity
Preferred stock	$	—	$	—
Common stock	8,482		8,340
Surplus	11,537		10,424
Retained earnings	46,082		41,494
Accumulated other comprehensive income	305		3,448
Total shareholders’ equity	$	66,406	$	63,706
Total liabilities and shareholders’ equity	$	74,083	$	71,583

EAGLE FINANCIAL SERVICES , INC.

(Parent Company Only)

Statements of Income

Years Ended December 31, 2013, 2012, and 2011

(dollars in thousands)

	2013			2012			2011
Income
Dividends from subsidiary bank	$	—		$	800		$	1,600
Interest and dividends on securities available for sale	98			257			313
(Loss) on equity investments	—			—			—
Other income (loss)	40			38			(108		)
Total income	$	138		$	1,095		$	1,805
Expenses
Interest expense on borrowings	$	317		$	318		$	317
Other operating expenses	221			192			179
Total expenses	$	538		$	510		$	496
(Loss) income before income tax (benefit) and equity in undistributed net income of subsidiary bank	$	(400	)	$	585		$	1,309
Income Tax (Benefit)	(135		)	(75		)	(122		)
(Loss) income before equity in undistributed net income of subsidiary bank	$	(265	)	$	660		$	1,431
Equity in Undistributed Net Income of Subsidiary Bank	7,423			5,890			2,891
Net income	$	7,158		$	6,550		$	4,322
Comprehensive income	$	4,015		$	7,067		$	6,043

EAGLE FINANCIAL SERVICES , INC.

(Parent Company Only)

Statements of Cash Flows

Years Ended December 31, 2013, 2012, and 2011

(dollars in thousands)

	2013			2012			2011
Cash Flows from Operating Activities
Net Income	$	7,158		$	6,550		$	4,322
Adjustments to reconcile net income to net cash provided by operating activities
Loss on securities	—			—			96
Stock-based compensation expense	305			242			166
(Discount accretion) premium amortization on securities	(1		)	(1		)	(2		)
Undistributed earnings of subsidiary bank	(7,423		)	(5,890		)	(2,891		)
Changes in assets and liabilities:
Decrease (increase) in other assets	138			30			(91		)
Increase (decrease) in other liabilities	1			(2		)	(4		)
Net cash provided by operating activities	$	178		$	929		$	1,596
Cash Flows from Investing Activities
Purchases of securities available for sale	$	(1,044	)	$	—		$	—
Proceeds from maturities of securities available for sale	1,458			1,945			500
Net cash provided by investing activities	$	414		$	1,945		$	500
Cash Flows from Financing Activities
Cash dividends paid	$	(1,909	)	$	(1,805	)	$	(1,764	)
Issuance of common stock, employee benefit plan	179			107			89
Stock options exercised	69			—			—
Retirement of common stock	—			—			(271		)
Net cash (used in) financing activities	$	(1,661	)	$	(1,698	)	$	(1,946	)
(Decrease) increase in cash	$	(1,069	)	$	1,176		$	150
Cash
Beginning	$	1,992		$	816		$	666
Ending	$	923		$	1,992		$	816