Stay in the know! Sign up to get Fauquier County news updates delivered to your inbox.
Advertise on Fauquier Now!
FauquierNow.com
Poll closed Vote!
HOME OBITUARIES NEWS HOME & GARDEN OPINIONS BUSINESS STYLE CALENDAR CLASSIFIEDS
Free classifieds! Members can also post calendar events, news, opinions and more ... all for free! Register now!
Login · Forgot Your Password?
October 21, 2019

Fauquier Bankshares’ profit $2.1 million for 3rd quarter

Year-over-year The Fauquier Bank parent company’s quarterly profit increased 53 percent.
The Fauquier Bank’s parent company reported third quarter net income of $2.1 million, an increase of 53 percent compared to $1.3 million for the same period in 2018.

“We experienced sound third quarter financial results, which were driven by a constant net interest margin, a decline in nonperforming loans, growth in income generated by wealth management services and continued improvement in our efficiency ratio,” Fauquier Bankshares President/CEO Marc Bogan said. “While loan growth continues to be competitive, we are encouraged by the strength of our loan pipeline and the future funding of unused commitments.

“Deposit growth is steady as we evaluate new and existing products to meet the needs of our customers in the markets we serve.”

Total assets stood at $726.3 million on Sept. 30, compared with $670 million a year earlier.

Net loans totaled $539.8 million, up from $527.8 million.

Total deposits stood at $614 million, compared with $566.2 million on September 30, 2018.

Nonperforming assets totaled $6.7 million on Sept. 30, down from $9 million a year earlier.

Shareholders’ equity stood at $66 when the quarter ended, compared with $58.3 million a year earlier. Book value per common share rose to $17.43 from $15.44 on Sept. 30, 2018.

An independent company, Warrenton-based Fauquier Bankshares operates 11 banking offices in Fauquier and Prince William counties.
Member comments
To comment, please log in or register.
Facebook comments
Enter your email address above to begin receiving
news updates from FauquierNow.com via email.
Monday, November 18
Earsaline Anderson remains active in her church, her former high school and local historical preservation
Monday, November 18
Community firefighter/medics partner with Toys for Tots to make Christmas brighter
Monday, November 18
The Fauquier County Circuit Court clerk’s office recorded these land transfers Nov. 7-12, 2019
More Fauquier news
© Copyright 2011-2018

50 Culpeper Street, Suite 3
Warrenton, Virginia 20187
540.359.6574
Crime Log
Obituaries
Business
Add Your News
The Big Picture
Ellen’s Kitchen
and Garden

Features
Real Estate
For Sale
Employment
Automotive
Announcements
Legal Notices
Post an Ad
Advertise
Terms of Service