secwatch.observer — SEC 8-K summary
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Issuer:     EAGLE FINANCIAL SERVICES INC (EFSI)
CIK:        0000880641
Form:       8-K
Filed at:   2023-08-24T23:59:59+00:00
Accession:  0000950170-23-044263
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eagle Financial Services sells marine finance business to Axos Bank for $1.5M plus $61.8M loans
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- Asset purchase price $1.5M for servicing rights, client lists, and other assets of LaVictoire Finance.
- Axos Bank acquired $61.8M (par value) marine dealer floor plan loans under separate Loan Purchase Agreement.
- Bank of Clarke to continue servicing loans at 20 bps fee; two-year non-solicitation of employees.
- Transaction closed August 23, 2023; Seller retains all other business lines.
- No material financial guidance or earnings impact disclosed in the filing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/880641/000095017023044263/0000950170-23-044263-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/880641/000095017023044263/efsi-20230823.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-044263

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