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Last $6.20 USD
Change Today -0.0101 / -0.16%
Volume 869.0
As of 8:10 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

eastern virginia bankshares (EVBS) Snapshot

Previous Close
Day High
Day Low
52 Week High
05/4/15 - $6.57
52 Week Low
11/7/14 - $5.33
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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eastern virginia bankshares (EVBS) Details

Eastern Virginia Bankshares, Inc. operates as a bank holding company for EVB, a community bank that provides various personal and commercial banking services to individuals and small to medium-sized businesses. The company offers deposit products, including demand deposits, savings and money market accounts, and time deposits. It also provides lending and credit services comprising mortgage, commercial, real estate, and consumer loans. In addition, the company offers investment brokerage services; sells title insurance to mortgage loan customers; and sells various insurance products. It operates through a network of 24 full service branches and 2 drive-in facilities in eastern Virginia, as well as 1 loan production office in Chesterfield County, Virginia. The company was founded in 1910 and is headquartered in Tappahannock, Virginia.

353 Employees
Last Reported Date: 03/31/15
Founded in 1910

eastern virginia bankshares (EVBS) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $353.5K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $143.1K
Chief Operations Officer, Senior Executive Vi...
Total Annual Compensation: $188.5K
Chief Credit Officer, Executive Vice Presiden...
Total Annual Compensation: $163.1K
Executive Vice President, Retail Banking Exec...
Total Annual Compensation: $141.4K
Compensation as of Fiscal Year 2014.

eastern virginia bankshares (EVBS) Key Developments

Eastern Virginia Bankshares Inc. Declares Cash Dividend on Common Stock and Series B Preferred Stock, Payable on May 22, 2015

The board of directors of Eastern Virginia Bankshares Inc. has declared a cash dividend of USD 0.01 per share of common stock and Series B Preferred Stock, which will be payable on May 22, 2015, to shareholders of record as of May 8, 2015.

Eastern Virginia Bankshares Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter Ended March 31, 2015

Eastern Virginia Bankshares Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, net interest income was $10.574 million against $9.261 million a year ago. Income before income taxes was $2.126 million against $2.275 million a year ago. Net income available to common shareholders was $1.389 million or $0.08 per diluted share against $1.478 million or $0.09 per diluted share a year ago. Return on average assets was 0.48% against 0.57% a year ago. Return on average common shareholders' equity was 5.63% against 6.64% a year ago. Interest and dividend income was $11.765 million against $10.376 million a year ago. The company's results were directly impacted by the acquisition and integration of Virginia Company Bank which was effective November 14, 2014, including additional legal fees and integration costs of $219,000, and increased average loan and deposit balances during the first quarter of 2015 as compared to the same period in 2014. Increase in net interest income of $1.3 million from the same period in 2014, principally due to a $1.6 million increase in interest and fees on loans driven primarily by loans acquired through the acquisition of VCB, partially offset by a decrease in interest on investment securities. Operating results were impacted by accounting adjustments which were recorded in relation to the VCB acquisition. The increase in total interest income during the three months ended March 31, 2015 was primarily driven by an increase in average loan balances and partially offset by a decrease in average investment securities balances and declines in loan and investment securities yields. For the first quarter ended March 31, 2015, the company reported net charge-offs of $0.363 million against $0.111 million a year ago.

Eastern Virginia Bankshares, Inc. Announces Private Placement of $20.0 Million of Fixed to Floating Rate Subordinated Notes

Eastern Virginia Bankshares Inc. announced that it has completed a private placement of $20.0 million in aggregate principal amount of fixed-to-floating rate subordinated notes to certain institutional accredited investors. Unless earlier redeemed, the notes mature on May 1, 2025 and bear interest at a fixed rate of 6.50% per year, from and including April 22, 2015 to but excluding May 1, 2020. From and including May 1, 2020 to the maturity date or early redemption date, the interest rate will reset quarterly to an interest rate per year equal to the then current three month LIBOR rate plus 502 basis points. The Company has agreed to take steps to exchange the privately placed notes for registered notes having substantially the same terms.


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Industry Analysis


Industry Average

Valuation EVBS Industry Range
Price/Earnings 30.0x
Price/Sales 1.8x
Price/Book 0.7x
Price/Cash Flow 15.3x
TEV/Sales NM Not Meaningful

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