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David Kwiatkowski

Local stocks

Eagle Financial Services, Inc. (OTC BULLETIN BOARD: EFSI), the holding company for Bank of Clarke County, recently announced earnings of $1.3 million, or $0.37 per diluted share, for the third quarter 2012.

This is an 8.6-percent increase from the $1.1 million in earnings for the same period in 2011, but the net income decreased 37.4 percent from the $2.0 million for the second quarter of this year, which ended on June 30. Increased provision for loan losses contributed to the decline in net income.

Total loan interest income was $5.6 million for the third quarter 2012, and average loans were $428.2 million. Total average accruing loans were $425.2 million. The tax equivalent yield on average loans for the third quarter was 5.26 percent, down 25 basis points from 5.51 percent for the second quarter of this year.

New employee

David Kwiatkowski, RRT, MBA, has joined Valley Home Care as clinical director of HME Services.

As clinical director, Kwiatkowski will be responsible for operations of the Respiratory, Rehab and Service departments.

Kwiatkowski has worked in leadership positions in the home care industry for 20 years, including at Odyssey Hospice in Virginia Beach and Advanced Home Care in Greensboro, N.C.

Valley Home Care is an affiliate of Valley Health and has retail locations in Front Royal, Winchester and Woodstock.

New building

Invenio Solutions has relocated its Winchester office while expanding its office space from 7,000 to 12,000 square feet.

The newly built space is intended to promote a healthy work environment, and it contains innovative design concepts, including:
• Translucent polycarbonate on the interior walls, skylights and reflective foil faced paned on the ceiling to extend the natural daylight throughout the space
• An open layout, with small office kiosks constructed within the cubicle grid
• A new spiral stair to serve as a space for public address

Ervin Construction completed the build-out in less than 100 days, and the new space represents phase one of a two-part expansion plan. Phase two, which is scheduled for spring 2013, will consist of adding 5,000 square feet on to the space.

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