8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 or 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report: April 26, 2004

(Date of earliest event reported)

Commission file number: 0-20146

EAGLE FINANCIAL SERVICES, INC.

(Exact name of Registrant as specified in its charter)

Virginia	54-1601306
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

2 East Main Street P.O. Box 391 Berryville, Virginia 22611	22611
(Address of principal executive offices)	(Zip code)

(540) 955-2510

(Registrant’s telephone number, including area code)

Item 12. Results of Operations and Financial Condition

On April 26, 2004, Eagle Financial Services, Inc. issued a press release announcing results for the quarter ended March 31, 2004. A copy of the Company’s press release is being furnished as an exhibit to this report and is incorporated by reference into this Item 12.

The foregoing information, including the information contained in the press release, is being furnished pursuant to this Item 12 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. In addition, this information shall not be deemed to be incorporated by reference into any of the Registrant’s filings with the Securities and Exchange Commission, except as shall be expressly set forth by specific reference in any such filing.

The exhibit to this report is as follows:

Exhibit No.	Description
99	Press release issued by the Registrant dated April 26, 2004.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: April 26, 2004

Eagle Financial Services, Inc.
By:	/s/ JAMES W. MCCARTY, JR.
	James W. McCarty, Jr.
	Vice President, Chief Financial Officer,
	and Secretary-Treasurer

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EX-99

EXHIBIT 99

Contact:	Jim McCarty
	Vice President and Chief Financial Officer
	540-955-2510
	jmccarty@bankofclarke.com

EAGLE FINANCIAL SERVICES, INC. ANNOUNCES FIRST

QUARTER RESULTS AND QUARTERLY DIVIDEND

BERRYVILLE, Va., April 26 — EAGLE FINANCIAL SERVICES, INC. (OTC BULLETIN BOARD: EFSI), the holding company for Bank of Clarke County, Bank of Clarke County Trust Department and Eagle Investment Services, announces financial results for the first quarter of 2004 and quarterly dividend. The Company’s common stock is listed for trading on the Over-the-Counter (OTC) Bulletin Board under the ticker symbol EFSI.

The Company’s net income for the first quarter of 2004 was $0.9 million, which is unchanged from net income for the first quarter of 2003. Earnings per share were $0.60 and $0.62 for the first quarter of 2004 and 2003, respectively, which represents a decrease of $0.02 or 3%. Net interest income was $3.5 million for the first three months of 2004 as compared to $3.0 million during the same period of 2003. This represents an increase of $0.5 million or 18%. Growth is the primary factor in this increase as the Company’s net interest margin only increased slightly from 4.38% to 4.39% for the first three months of 2003 and 2004, respectively.

Total assets of the Company as of March 31, 2004 were $355.5 million, which represents an increase of $49.5 million or 16% from total assets of $306.0 million as of March 31, 2003. Total loans grew $49.9 million or 21% and total deposits grew $33.7 million or 14% during this period.

A dividend of $0.21 per share will be paid on May 17, 2004 to shareholders on record as of May 3, 2004. This represents an increase of $0.03 or 17% over the May 15, 2003 dividend of $0.18 per share. The Company’s total dividend was $0.75 per share for 2003 as compared to $0.64 per share for 2002.

This press release may contain “forward-looking statements,” as defined by federal securities laws, which may involve significant risks and uncertainties. The statements are based on estimates and assumptions made by the Company in conjunction with other factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements. Consequently, all forward-looking statements made herein are qualified by the cautionary language in the Company’s most recent Form 10-K and other documents filed with the Securities and Exchange Commission.