Eagle Financial Services Inc · NASDAQ:EFSI
Eagle Financial Services — Merger or Acquisition (September 2026)
21 slides from Eagle Financial Services's merger presentation, Sep 8, 2026
Slide 1: Strategic Merger Investor Presentation
Exhibit 99.1 1 JMSB Palette 197 0 30 48 62 87 + 27 0 31 181 43 247 200 151 ST R AT EG I C M E R G E R 162 153 115 155 From the Shenandoah Valley to the Nation’s Capital 198 232 198 238 198 245 Merger Investor Presentation 251 John Marshall Bancorp, Inc. (Nasdaq: JMSB) Eagle Financial Services, Inc.
Slide 2: Cautionary Note Regarding Forward-Looking Statements
2 JMSB Palette Disclaimer 197 0 30 48 62 87 Cautionary Note Regarding Forward-Looking Statements In addition to historical information, this communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on certain 27 0 ass
Slide 3: Additional Information About the Merger and Where to Find It
3 JMSB Palette Disclaimer 197 0 30 48 62 87 Additional Information About the Merger and Where to Find It In connection with the proposed transaction, John Marshall will file a registration statement on Form S-4 with the SEC to register the shares of John Marshall common stock to be issued in connect
Slide 4: Connecting Attractive Markets Across Virginia and Maryland
4 JMSB Palette Connecting Attractive Markets Across Virginia and Maryland 197 0 30 48 62 87 th (1) Creates 5 Largest Bank Headquartered in Virginia 27 0 31 181 Pro Forma 43 247 $4.4B $3.7B $3.6B ~$580M 23 Combined (4) (3) Assets Deposits Loans Market Cap (2) Banking Offices Company 200 151 162 153 1
Slide 5: Building a Stronger Franchise
5 JMSB Palette Building a Stronger Franchise 197 0 30 48 62 87 27 0 31 181 Creates a leading Virginia banking franchise across the D.C. metro area and Shenandoah Valley 43 247 200 151 162 153 115 155 Low cost, granular core deposit base 198 232 198 238 198 245 251 227 Diversified revenue with robust
Slide 6: Overview of Eagle Financial Services, Inc. (EFSI)
6 JMSB Palette Overview of Eagle Financial Services, Inc. (EFSI) 197 0 30 48 62 87 Company Highlights Franchise Strengths 27 0 Ticker EFSI (Nasdaq) ▪ Granular core deposits, driving low cost of funds Low-Cost 31 181 Core Funding ▪ Deep noninterest-bearing deposit base Established 1881 43 247 Headqua
Slide 7: Overview of John Marshall Bancorp, Inc. (JMSB)
7 JMSB Palette Overview of John Marshall Bancorp, Inc. (JMSB) 197 0 30 48 62 87 Company Highlights Franchise Strengths 27 0 Ticker JMSB (Nasdaq) ▪ No loans on non-accrual status at quarter end 31 181 Pristine Credit ▪ Disciplined, relationship-based underwriting Established 2006 43 247 Headquarters
Slide 8: A Top-10 Virginia Deposit Franchise
8 JMSB Palette A Top-10 Virginia Deposit Franchise 197 0 30 48 62 87 Market Demographics Deposit Market Share: Virginia 27 0 Community Deposits Deposit 31 181 2026-2031 Projected Population Change (%) Bank in Market Market Share 43 247 (1) Rank Rank Institution ($M) (%) 1. Capital One Financial Corp
Slide 9: Deep and Experienced Leadership Team
9 JMSB Palette Deep and Experienced Leadership Team 197 0 30 48 62 87 Combined Executive Management Team Pro Forma Board Split 27 0 Legacy JMSB Legacy EFSI 31 181 Board Leadership 43 247 200 151 ▪ Executive Chairman: Christopher W. Bergstrom Christopher W. Bergstrom Brandon C. Lorey 162 153 Executiv
Slide 10: Granular Deposit Base
10 JMSB Palette Granular Deposit Base 197 0 30 48 62 87 EFSI Deposit Portfolio Highlights Cost of Deposits 27 0 2.86% 2.56% 31 181 1.76% 29% 83% 2.34% 2.33% 43 247 Cost of Deposits NIB Deposits Core Deposits JMSB 200 151 2.12% EFSI 162 153 1.94% Pricing Discipline Everyday Accounts Core Relationship
Slide 11: A More Diversified, Higher-Yielding Loan Book
11 JMSB Palette A More Diversified, Higher-Yielding Loan Book 197 0 30 48 62 87 EFSI Loan Portfolio Highlights Yield on Loans 27 0 5.82% 31 181 5.82% 26% 49% EFSI 5.67% (1) 5.61% 43 247 Yield on Loans C&I & Consumer CRE Exposure JMSB 200 151 5.28% 5.53% 162 153 5.41% Yield Premium Diversified Lendin
Slide 12: Attractive Fee Income Opportunity
12 JMSB Palette Attractive Fee Income Opportunity 197 0 30 48 62 87 Diversified Suite of Products and Revenue Base 27 0 (2) JMSB EFSI Pro Forma 31 181 BOLI Income BOLI Income Other Income 43 247 5% Other Income 6% 7% Mortgage & 13% Other Income Other Service Other Service Charges SBA Banking 56% Mor
Slide 13: Transaction Summary
13 JMSB Palette Transaction Summary 197 0 30 48 62 87 ▪ 100% stock consideration Transaction 27 0 ▪ Fixed exchange ratio of 2.0x JMSB shares for each EFSI share Structure 31 181 ▪ Pro Forma Ownership: 56.6% JMSB | 43.4% EFSI 43 247 (1) ▪ $46.72 per EFSI share Transaction 200 151 (2) Value ▪ Aggregat
Slide 14: Pro Forma Financial Impact
14 JMSB Palette Pro Forma Financial Impact 197 0 30 48 62 87 27 0 (1) Key Transaction Impacts Pro Forma Profitability Pro Forma Capital at Close 31 181 43 247 200 151 162 153 ~38% ~1.6% ~10.0% 115 155 Fully-Phased Fully-Phased Pro Forma (1) 2027E EPS Accretion 2027E ROAA TCE / TA 198 232 198 238 198
Slide 15: Implied Valuation Upside + Pro Forma Peers
15 JMSB Palette Implied Valuation Upside 197 0 30 48 62 87 (2) + Pro Forma Peers 27 0 31 181 43 247 (1) Pro Forma Median Top Quartile 200 151 2027E Estimated Profitability 162 153 115 155 ROAA ~1.6% 1.2% 1.3% 198 232 ROATCE 13.1% 14.7% ~16.2% 198 238 198 245 Efficiency Ratio ~47% 59% 57% 251 Market
Slide 16: Pro Forma Profitability vs. Peers
16 JMSB Palette Pro Forma Profitability vs. Peers 197 0 30 48 62 87 2027E 2026 Q2 27 0 31 181 1.2% ~1.6% 43 247 1.3% ~1.3% 200 151 ~1.2% 1.2% 1.1% 162 153 115 155 ROAA 198 232 198 238 198 245 (1) Pro Forma Peer Top Quartile Peer Median JMSB EFSI 251 227 233 EFSI Palette 0 14 ~16.2% ~14.7% 150 79 ~13
Slide 17: A Stronger Bank for All Stakeholders
17 JMSB Palette A Stronger Bank for All Stakeholders 197 0 30 48 62 87 Shareholders Customers 27 0 31 181 (1) ▪ Peer-leading profitability : ~1.6% ROAA and ~16.2% ROATCE▪ Higher legal lending limit 43 247 ▪ Significantly EPS accretive to all shareholders ▪ More expansive branch network 200 151 ▪ Str
Slide 18: Appendix
18 JMSB Palette 197 0 30 48 62 87 27 0 31 181 43 247 200 151 162 153 115 155 198 232 S E C T I O N 198 238 198 245 251 Appendix 227 233 EFSI Palette 0 14 150 79 127 94 0 28 48 31 87 82 224 242 239
Slide 19: Detailed Transaction Assumptions
19 JMSB Palette Detailed Transaction Assumptions 197 0 30 48 62 87 ▪ JMSB earnings per management estimates through 2027 – growth of 5% thereafter Earnings 27 0 Assumptions ▪ EFSI earnings per management estimates through 2027 – growth of 5% thereafter 31 181 43 247 ▪ Estimated cost savings of 15% o
Slide 20: Comprehensive Due Diligence Review of Both Companies
20 JMSB Palette Comprehensive Due Diligence Review of Both Companies 197 0 30 48 62 87 30-Day Review Period 12 Functional Areas Credit-Led Focus 27 0 Comprehensive due diligence review of both Spanning credit and risk, business lines, and Heightened focus on loan portfolio and credit 31 181 companie
Slide 21: Pro Forma Tangible Book Value Reconciliation
21 JMSB Palette Pro Forma Tangible Book Value Reconciliation 197 0 30 48 62 87 27 0 TBV Reconciliation Goodwill Reconciliation 31 181 ($ in millions) At Close 43 247 ($ in millions except for per share figures) At Close Shares (mm) Per Share Transaction Consideration $252.8 JMSB Standalone Tangible
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