Under the terms of the agreement, John Marshall will issue two shares for each share of Berryville-based Eagle Financial. This exchange ratio values the transaction at $46.72 per share, based on John Marshall’s closing price of $23.36 last Friday. The target firm had closed at $41.90 on the same day.

Expected to finalize in the first quarter of 2027, the merger will result in a expanded regional entity overseeing 23 banking offices. Once combined, the institution is projected to manage total assets exceeding $4 billion, strengthening its footprint across the state.