-
Cardinal Financial in Tysons Corner, Va., has agreed to buy a Virginia branch from Virginia Heritage Bank.
September 2 -
The most profitable 200 community banks and thrifts as ranked by three-year average ROE.
April 28 -
A long decline in loan-loss reserves hit a wall in the fourth quarter, as loan growth forced companies to set more cash aside than in recent quarters. An end to reserve releases, combined with higher costs and lower margins, are putting pressure on bankers to boost revenue.
February 5
Fee income and payment of a Home Loan bank advance helped Eagle Financial Services in Berryville, Va., boost its bottom line last quarter.
The $626.8 million-asset company reported a fourth-quarter profit of $2.4 million, a 32.4% increase from the same quarter a year earlier.
Its noninterest income increased 46.6%, to $2.2 million. Noninterest expense fell 15.7%, to $4.8 million, partly because of Eagle's prepayment of a $10 million advance from the Federal Home Loan Bank of Atlanta.
Eagle's net interest margin decreased 17 basis points to 4%. But net interest income stayed level at $5.6 million thanks to loan growth; total loans were $469.8 million, a 5.7% increase from the fourth quarter of 2013.
Eagle is the holding company of Bank of Clarke County.
