Download - FBSSPresentation 2009 - Final
_____________________FAUQUIER BANKSHARES, INC.Q ,
Deeply rooted in our community.
A il 2009April 2009
Safe Harbor Statement
In addition to the historical information contained herein, this report contains forward-looking statements. Forward-In addition to the historical information contained herein, this report contains forward looking statements. Forwardlooking statements are based on certain assumptions and describe future plans, strategies, and expectations of theCompany, and are generally identifiable by use of the words “believe,” “expect,” “intend,” “anticipate,” “estimate,”“project,” “may,” “will,” or similar expressions. Although we believe our plans, intentions, and expectations reflectedin these forward-looking statements are reasonable, we can give no assurance that these plans, intentions, orexpectations will be achieved. Our ability to predict results or the actual effect of future plans or strategies isinherently uncertain, and actual results could differ materially from those contemplated. Factors that could have amaterial adverse effect on our operations and future prospects include, but are not limited to, changes in: interestrates, general economic conditions, the legislative/regulatory climate, monetary and fiscal policies of the U.S.G t i l di li i f th U S T d th B d f G f th F d l R S t thGovernment, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, thequality or composition of the Bank’s loan or investment portfolios, demand for loan products, deposit flows,competition, demand for financial services in our market area, and accounting principles, policies, and guidelines.These risks and uncertainties should be considered in evaluating forward-looking statements in this report, and youshould not place undue reliance on such statements which reflect our position as of the date of this report Forshould not place undue reliance on such statements, which reflect our position as of the date of this report. Foradditional discussion of risk factors that may cause our actual future results to differ materially from the resultsindicated within forward-looking statements, please refer to "Risk Factors" in Item 1A of our Annual Report on Form10-K for the year ended December 31, 2008.
2FAUQUIER BANKSHARES, INC.
Table of Contents
Who We Are
Market AreaMarket Area
Financial Condition
Financial Performance and Goals
Building Shareholder Value
3FAUQUIER BANKSHARES, INC.
Who We Are
4FAUQUIER BANKSHARES, INC.
Fauquier Bankshares, Inc.
Founded 1902
Headquartered Warrenton, Virginia (50 miles west of Washington, D.C.)Headquartered Warrenton, Virginia (50 miles west of Washington, D.C.)
(8 branch locations – expanding in 2009)
Total Assets $514.5 Million
Shares Outstanding 3,564,317
Insider Ownership 6.42% 1
I tit ti l O hi 12 29% 2 3Institutional Ownership 12.29% 2 (9.19% held by Royce & Associates, LLC3)
Shareholders Approx. 500 + “street” (Over 75% in VA)
NASDAQ FBSSNASDAQ FBSS
All data provided as of December 31, 2008, unless otherwise noted.(1) Source: NASDAQ as of March 27, 2009.(2) Source: NASDAQ as of March 27, 2009.(3) A subsidiary of Legg Mason. Percentage ownership as of last Form 13F filed with SEC on January 23, 2009.
5FAUQUIER BANKSHARES, INC.
Industry Recognition
Named #104 of “Top 200 Publicly-Traded Community Banks” in the June 2008 issue of U.S. Banker magazine, based on previous 3-year average ROE of 1,115 public institutions pooled.
In October 2008, President & CEO Randy Ferrell was selected to serve as a panelist in the SEC roundtable concerning mark-to-marketserve as a panelist in the SEC roundtable concerning mark to market accounting. The panel discussions focused on the usefulness of mark-to-market accounting to investors and regulators, potential market behavior effects and whether aspects of current accounting standards may be improved. Mr. Ferrell discussed the impact an expansion of mark-to-market accounting valuation could have for community banks.
6FAUQUIER BANKSHARES, INC.
Our Success Is a Result of Our Culture
Strategic Planningg g
Teamwork
Disciplined Execution (aka “Blocking and Tackling”)
Standards of ExcellenceStandards of Excellence
Consistently Strong Credit Culture
7FAUQUIER BANKSHARES, INC.
Our Management Focus
Quality Growth
Loan Portfolio
Core Transaction DepositsCore Transaction Deposits
Non-Interest Fee Income
Wealth Management and Financial Planning
O ti l M tOperational Management
Increased Market Share
8FAUQUIER BANKSHARES, INC.
Our Customer Focus
To deliver a superior customer experienceTo deliver a superior customer experienceby enabling our retail and commercialcustomers to make the right choices whenselecting financial products and servicesthat best fit their needs and lifestyles,th b i t t hithereby empowering customers to achievetheir financial goals.
9FAUQUIER BANKSHARES, INC.
Market Area
10FAUQUIER BANKSHARES, INC.
Northern Virginia Marketplace
Places to Which Fauquier CountyResidents Commute (2000)
Fauquier County 11,822 41.89%Fairfax County 5,499 19.48%Prince William County 3,132 11.10%
Residents Commute (2000)
Loudoun County 1,595 5.65%Manassas City 1,163 4.12%District of Columbia 1,139 4.04%
Other Places of Work 3,874 13.73%
Source: Weldon Cooper Center for Public Service
,Total Out-Commuters 16,402 58.11%Total County Workforce 28,224 100.00%
11FAUQUIER BANKSHARES, INC.
Primary Market Area
12FAUQUIER BANKSHARES, INC.
Northern Virginia Marketplace
Virginia voted “No. 1 Most Business-Friendly State” by ForbesMagazine in 2006 2007 and 2008 Also voted “Top State forMagazine in 2006, 2007, and 2008. Also voted “Top State for Business” by CNBC in 2007.
St l ti i d l t thStrong population, economic, and employment growth
Stable federal government presence
Exceptional higher education
Diverse industry employment, mostly “clean” industries
Hi h h h ld iHigh household income
FAUQUIER BANKSHARES, INC. 13
Unemployment Rates
7.0%
United States
Virginia
Prince William County
5.0%
6.0%6.0%
5.5%5.1%
4 6% 4 6%
5.8%
y
Fauquier County
4.0%
5.0% 4.6% 4.6%4.1%
3.7% 3.5%
3.0% 3.0%
4.2%
3.3%2 7%
3.5%
3.5%
2.0%
3.0% 2.7%2.5% 2.4% 2.5%3.0%
2.6% 2.4% 2.4% 2.5%
0.0%
1.0%
2003 2004 2005 2006 2007 2008
14
2003 2004 2005 2006 2007 2008Source: Bureau of Labor Statistics, Local Area Unemployment Statistics - Average Annual Rate
FAUQUIER BANKSHARES, INC.
Strong Markets with Sustainable Growth
Northern Virginia—primarily Fauquier County, western Prince William County and surrounding countiesWilliam County, and surrounding counties.
2008 Population
Percent Growth
2008 Per Capita Income
County (Thousands) (2000 to 2008) (USA=100)
Fauquier 69.7 25.5% 128
Prince William 387.9 36.8% 122
Loudoun 289.1 72.8% 187
15FAUQUIER BANKSHARES, INC.
Source: Source: SNL – Data provided by ESRI based primarily on US Census data.
Fauquier County, Western Prince William County, and Manassas City Deposit Market Sharey p
Fi i l I tit tiNo. ofOffi
Deposits($000)
MarketShFinancial Institution Offices ($000) Share
BB&T 16 $ 957,119 30.96%Fauquier Bank 8 388,713 12.57%Suntrust Bank 7 384,751 12.44%,Wells Fargo (Wachovia) 5 328,259 10.62%Chevy Chase Bank 10 144,713 4.68%Bank of America 4 142,276 4.60%PNC Bank 5 132 065 4 27%PNC Bank 5 132,065 4.27%Cardinal Bank 1 128,920 4.17%Virginia Commerce Bank 2 86,548 2.80%Other 17 Institutions 24 398,324 12.89%
Total 82 $3,091,689 100%
Source: FDIC - Deposit Market Share Report
FAUQUIER BANKSHARES, INC. 16
p pData as of June 30, 2008.
Financial Condition
FAUQUIER BANKSHARES, INC. 17
Asset and Loan Growthas of December 31 2008as of December 31, 2008
$800 $800
$429$481
$522 $490 $515 $600
$800
$381 $416 $409 $435
$600
5-Year CAGR: 6.33% 5-Year CAGR: 8.08%
$429
$200
$400 $338 $381 $416 $409
$200
$400
$-2004 2005 2006 2007 2008
Total Assets ($Millions)
$02004 2005 2006 2007 2008
Total Loans ($Millions)Total Assets ($Millions) Total Loans ($Millions)
FAUQUIER BANKSHARES, INC. 18
Financial data provided on an annual basis unless otherwise noted.
Loan PortfolioLoan PortfolioAverage Daily Balances for Twelve Months Ended December 31, 2008Average Daily Balances for Twelve Months Ended December 31, 2008
Residential $172MM
41%($43MM Home Equity &
Second Mortgages)
Commercial Real Estate
$153MMSecond Mortgages) 37%
($91MM Owner -occupied)
Consumer $20MM
Commercial & Industrial
Construction$40MM $20MM
5%Industrial $35MM
8%
$40MM9%
Fauquier Bankshares does not originate sub prime or Alt A loans
19
Fauquier Bankshares does not originate sub-prime or Alt-A loans.
FAUQUIER BANKSHARES, INC.
Credit Quality
0.62%0 50%0.6%
0.8%
Loan Losses, Net of Recoveries, as a Percentage of Total Loans
Non-performing Assets and Loans (and Repossessed Assets), as a Percentage of Total Loans
2.38%2.5%3.0%
0.02%0.08%
0.03%
0.24%0.16% 0.13% 0.11%
0.25%
0.50%
0 0%
0.2%
0.4%
0.02% 0.00%0.39% 0.46%
0.96%0.61% 0.56% 0.54%
1.39%
0 0%0.5%1.0%1.5%2.0%
0.0%2004 2005 2006 2007 2008
FBSS Federal Reserve Peer Group
Allowance for Loan Loss Coverage of Non-Performing Assets
0.02% 0.00%0.0%2004 2005 2006 2007 2008
FBSS Federal Reserve Peer Group
g gAs a Percentage of Total Loans
1.19% 1.10% 1.06% 1.01% 1.09%1.24% 1.20% 1.17% 1.30% 1.36%
1 0%
2.0%
1.01%
0.0%
1.0%
2004 2005 2006 2007 2008FBSS F d l R P G
FAUQUIER BANKSHARES, INC.
FBSS Federal Reserve Peer Group
20
Capital Management(For Year Ended December 31)(For Year Ended December 31)
11.0%Tangible Equity to Assets Ratio
Leverage Ratio
Minimum Required: 4.00
8 3%8.7%
9.5% 9.5% 9.4%
8 5%9.0%9.5%
10.0%10.5%
7.43% 7.39% 7.38%
8.54%8.06%
6.5%
7.5%
8.5%
qWell Capitalized: 5.00
8.3%8.0%8.5%
2004 2005 2006 2007 20082004 2005 2006 2007 2008
11 80% 11 90%13.0%
14.0%Tier 1 Risk-based Ratio
Minimum Required: 4.00Well Capitalized: 6.00
12.90% 12.98%13 0%
14.0%
15.0% Minimum Required: 8.00Well Capitalized: 10.00
Total Risk-based Ratio
10.87% 10.83%
11.80% 11.90%11.38%
10.0%
11.0%
12.0%
2004 2005 2006 2007 2008
12.10% 11.97%
12.90%12.52%
11.0%
12.0%
13.0%
2004 2005 2006 2007 20082004 2005 2006 2007 2008
FAUQUIER BANKSHARES, INC. 21
Deposit PortfolioAverage Daily Balances for Twelve Months Ended December 31 2008Average Daily Balances for Twelve Months Ended December 31, 2008
Demand Deposit Accounts$68MM
17%
NOW Accounts$84MM
Money Market Accounts$ 21%$90MM
23%
Savings Accounts$31MM
8%Certificates of
Deposit$124MM
31%
FAUQUIER BANKSHARES, INC. 22
Deposit Growth(Average YTD)
$242 9$255.2
$245.1$250 0
$300.0
$164 8
$185.6 $189.7 $198.8
$242.9 $245.1
$200.0
$250.0
$164.8 $153.5 $149.1 $152.3
$100.0
$150.0
$50.0
$ 00 0
$-2004 2005 2006 2007 2008
Transaction Non-Transaction
23Transaction account defined as Demand Deposit Accounts and NOW Accounts. Data provided as of December 31.
FAUQUIER BANKSHARES, INC.
Demand Deposits(As a Percent of Average Assets)
12 00%
14.00%
12.48%11.88%
(As a Percent of Average Assets)
10.00%
12.00%11.02% 11.02%
10.05%10.05%9.66%
8 40%
The Fauquier Bank
Peer Group Banks (Insured Commercial Banks
8.00%
8.40%
7.20%6.46%
(Insured Commercial Banks Having Assets Between $300MM - $1B)
4.00%
6.00%
2.00%2004 2005 2006 2007 2008
Data used in the chart follows Federal Financial Institutions Examination Council reporting (Call Report) guidelines.Source: Uniform Bank Performance Report
FAUQUIER BANKSHARES, INC. 24
Negotiable Order of Withdrawal (NOW)(As a Percent of Average Assets)
14.00%12.57%
Th F i B k
( g )
10.00%
12.00%
10.17% 10.26%
The Fauquier Bank
Peer Group Banks (Insured Commercial Banks
8.00%6.59% 6.95%
6.33%5 82%
(Insured Commercial Banks Having Assets Between $300MM - $1B)
4.00%
6.00%5.82%
4.88%4.23%
3.98%
2.00%2004 2005 2006 2007 2008
Data used in the chart follows Federal Financial Institutions Examination Council reporting (Call Report) guidelines.Source: Uniform Bank Performance Report
FAUQUIER BANKSHARES, INC. 25
Demand & NOW Deposits(As a Percent of Average Assets)
25.00%
21.19% 21.28%22.62%
The Fauquier Bank
15 00%
20.00%19.07%
18.83%
16.38%15.48%
13 28%
Peer Group Banks (Insured Commercial Banks Having Assets Between
10.00%
15.00% 13.28%
11.43%10.44%
g$300MM - $1B)
5.00%
0.00%2004 2005 2006 2007 2008
26
Data used in the chart follows Federal Financial Institutions Examination Council reporting (Call Report) guidelines.Source: Uniform Bank Performance Report
FAUQUIER BANKSHARES, INC.
Financial Performance and Goals
FAUQUIER BANKSHARES, INC. 27
Net Income(As a Percent of Average Assets)
1.40%
Fauquier Bankshares
(As a Percent of Average Assets)
1.00%
1.20%
1.21% 1.22%1.14%
1.01%1.04%1.09%
1.01%
0.85%
Peer Group Bank Holding Companies
0.60%
0.80% 0.73%
0.85%
0.20%
0.40%0.38%
0.00%2004 2005 2006 2007 2008
Peer Group - Bank Holding Companies with Consolidated Assets of $500MM - $1B (2008/2006)
28
Peer Group Bank Holding Companies with Consolidated Assets of $500MM $1B (2008/2006) Peer Group - Bank Holding Companies with Consolidated Assets less than $500MM (2007/2005/2004)Source: BHC Performance Report - 12/31/2008
FAUQUIER BANKSHARES, INC.
Quarterly Margin Analysis
10.00
11.00
7.00
8.00
9.00
10.00
6.72 6.81 6 72 6 78
4.00
5.00
6.00
6.72 6.81 6.72 6.786.43 6.13
6.08 6.07
3.98NIM
4.19NIM 4.12
NIM
4.22NIM
4.21NIM
4.28NIM 4.19
NIM 4.15
1.00
2.00
3.00
3.38 3.32 3.32 3.27 2.76 2.29 2.36 2.36
NIM
0.002007 Q1
2007 Q2
2007 Q3
2007 Q4
2008 Q1
2008 Q2
2008 Q3
2008 Q4
FAUQUIER BANKSHARES, INC. 29
Yield on Interest Earning Assets (%) Cost of Interest-bearing Liab (%) NIM - Net Interest Margin (%)Source: SNL Financial
Margin Analysis – Peer ComparisonMargin Analysis Peer Comparison4.68 4.67
4.28 4 14 4 194 11 4 194.50
5.00Fauquier Bankshares
Peer Group4.14 4.194.11 4.194.02 4.03
3.65
3 00
3.50
4.00
Peer Group
2.00
2.50
3.00
Year Percentile2008 832007 602006 692005 77
0.50
1.00
1.502005 772004 88
0.00
0.50
2004 2005 2006 2007 2008
Peer Group Bank Holding Companies with Consolidated Assets of $500MM $1B (2008/2006)
30
Peer Group - Bank Holding Companies with Consolidated Assets of $500MM - $1B (2008/2006) Peer Group - Bank Holding Companies with Consolidated Assets less than $500MM (2007/2005/2004)Sources: Bank Holding Companies Performance Report and FBSS Financials- 12/31/2008
FAUQUIER BANKSHARES, INC.
Cost of Funds – Peer ComparisonCost of Funds Peer Comparison
3.914.00
4.50Fauquier Bankshares
Peer Group
2.99
3.30
2 52
3.50
3.033.00
3.50
Peer Group
1.47
1.94
2.42
1.92
2.52
1 50
2.00
2.50Year Percentile2008 102007 112006 142005 13
0.50
1.00
1.50 2005 132004 17
0.002004 2005 2006 2007 2008
Peer Group Bank Holding Companies with Consolidated Assets of $500MM $1B (2008/2006)
31
Peer Group - Bank Holding Companies with Consolidated Assets of $500MM - $1B (2008/2006) Peer Group - Bank Holding Companies with Consolidated Assets less than $500MM (2007/2005/2004)Sources: Bank Holding Companies Performance Report and FBSS Financials- 12/31/2008
FAUQUIER BANKSHARES, INC.
Return on Average Equity (ROE)
18.00% 16.82% 16.93%Fauquier Bankshares
Return on Average Equity (ROE)
14.00%
16.00% 14.98%
11.39%11.38% 12.13%11.29%
q
Peer Group Bank Holding Companies
8.00%
10.00%
12.00%
8.17%
9%
8.36%Year Percentile2008 632007 672006 77
4.00%
6.00%3.76%
2005 862004 902003 782002 75
2.00%2004 2005 2006 2007 2008
Peer Group - Bank Holding Companies with Consolidated Assets of $500MM - $1B (2008/2006)
32
Peer Group - Bank Holding Companies with Consolidated Assets less than $500MM (2007/2005/2004)Source: BHC Performance Report - 12/31/2008
FAUQUIER BANKSHARES, INC.
Financial PerformanceQuarterly Basis
Return on Average Assets Return on Average Equity
Quarterly Basis
1.04%
0.83%1.00%
1.25%g
12.30%12 0%
16.0%
g q y
0.76% 0.73%0.60%
0.50%
0.75% 9.48% 8.80% 8.50%7.45%8.0%
12.0%
0.00%
0.25%
4Q07 1Q08 2Q08 3Q08 4Q08
0.0%
4.0%
4Q07 1Q08 2Q08 3Q08 4Q084Q07 1Q08 2Q08 3Q08 4Q08
FAUQUIER BANKSHARES, INC. 33
Yield Curve
3.03.0
(Spread Between 5 Year and 3 Month Treasury)
QuarterlyAnnual
1 511.59
1.882.0
2.181.94 2.03
1 40
2.0
0.66
1.51
1.00.83
1.40
1.0
0.05 0.16
-0.19
-0.43 -0.47-0.11
0.080.31
0.0-0.10 -0.05
0.0
-1.02006 Q1 Q2 Q3 Q4
2007 Q1 Q2 Q3 Q4
2008 Q1 Q2 Q3 Q4
-1.02002 2003 2004 2005 2006 2007 2008
FAUQUIER BANKSHARES, INC. 34
Total Non-Interest Income(As a Percent of Adjusted Operating Income)(As a Percent of Adjusted Operating Income)
26.00%23 63% 23.78%
Fauquier Bankshares
20.00%
22.00%
24.00%21.53% 21.18%
22.41%23.63% 23.78%
18.91%19.44%
18 24%19.34%
Peer Group Bank Holding Companies
16.00%
18.00%17.34%
18.24%
Year Percentile2008 712007 722006 65
10.00%
12.00%
14.00% 2005 732004 67
8.00%2004 2005 2006 2007 2008
Peer Group - Bank Holding Companies with Consolidated Assets of $500MM - $1B (2008/2006)
FAUQUIER BANKSHARES, INC. 35
p g p ( )Peer Group - Bank Holding Companies with Consolidated Assets less than $500MM (2007/2005/2004)Source: BHC Performance Report - 12/31/2008
Wealth Management
($Millions)
Assets Under ManagementAt Market Value
Wealth Management Income($Thousands)
$400
($Millions)
$$1,600
$235 $253
$299 $305
$250
$1,270 $1,332 $1,344 $1,412 $1,287
$1,200
,
$200
$400
$800
$0
2004 2005 2006 2007 2008 $0
$400
2004 2005 2006 2007 2008
FAUQUIER BANKSHARES, INC.
00 005 006 00 008
36
Earnings Per Share, Diluted
$1.41$1.60 $1.57
$1.39$1.50
$2.00
$1.14 $1.24$1.03
$1.00
$-
$0.50
2002 2003 2004 2005 2006 2007 20082002 2003 2004 2005 2006 2007 2008
Earnings Per Share, diluted
FAUQUIER BANKSHARES, INC.
Financial data provided on an annual basis, unless otherwise noted.
37
Building Shareholder Value
FAUQUIER BANKSHARES, INC. 38
Keys to Building Shareholder Value
Consistently achieving our EPS growth and ROE goals:Consistently achieving our EPS growth and ROE goals:- EPS Growth: 10% or greater annually - ROE: 75th to 80th percentile of Federal Reserve peer group,
usually 15.0%
Maintain Strong Credit Quality
Consistent Dividend Growth
B ild t ti t d it bBuild transaction account deposit base
FAUQUIER BANKSHARES, INC. 39
Cash Dividends
To pay a consistently growing cash dividend.
*Year2008 2007
Dividend$0.800$0.790
Payout78.1%56.5%
Yield*6.27%4.63%
200620052004
$0.745$0.645$0 560
46.2%39.0%37 6%
2.98%2.58%2 25%2004
20032002
$0.560$0.480$0.410
37.6%36.6%34.5%
2.25%2.09%2.70%
Total $4.430
* Yield calculated as annual dividend divided by December 31st stock price.
FAUQUIER BANKSHARES, INC. 40
Buybacks and Dividends as a Percentage of Net Incomeas a Percentage of Net Income
100% Buybacks, %
70%
80%
90%
61.38%
4.24%Dividends, %
50%
60%
56.46%
78.10%48.81%34.55%
25.49%26.74%
14.00%0 18%
0.77%
14.59%
20%
30%
40%
34.07%38.08%
36.10%34 77% 36 62%
37.61%38.95%
46.22%0.00%8.16%
0.18%
0%
10%
20%
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
29.68%34.77%
34.50%
36.62%
41FAUQUIER BANKSHARES, INC.
1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
Stock Chart – Price/Tangible Book Value
250
300
200
250
Valu
e (%
)
150
Tang
ible
Boo
k
FBSS
50
100
Pric
e/T FBSS
SNL Bank $250M - $500M
0Mar-99 Mar-00 Mar-01 Mar-02 Mar-03 Mar-04 Mar-05 Mar-06 Mar-07 Mar-08 Mar-09
42
Source: SNL Financial
FAUQUIER BANKSHARES, INC.
Stock Performance: Total Return
140
160
100
120
e
60
80
Inde
x Va
lue
Fauquier Bankshares
20
40
q
NASDAQ Composite
SNL Bank $500M - $1B
SNL Bank $250M-$500M
012/31/03 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08
43
Returns assume an initial investment of $100 at the market close of December 31, 2003 and reinvestment of dividends.
FAUQUIER BANKSHARES, INC.
Virginia Peer Group Comparison(All SNL Publicly Traded Virginia Banks & Bank Holding Companies with Total Assets Between $160 Million and $1,750 Million)
Institution (Peer Group):Trading Symbol
TotalAssets($000)
ROAA(%)
ROAE(%)
NetInterestMargin
(%)
Non-Int.Inc./Oper.Revenue
(%)
NPAs/Assets
(%)
ReservesLoan(%)
Market Value($M)
Price/Book(%)
CurrentDividend
Yield(%)*
Cardinal Financial Corporation CFNL 1,743,757 0.02 0.18 2.78 28.00 0.27 1.12 139.0 86.9 0.70p , ,Commonwealth Bankshares, Inc. CWBS 1,085,294 -0.39 -3.30 3.69 12.59 4.50 3.04 35.1 33.0 6.25Eastern Virginia Bankshares, Inc. EVBS 1,051,363 0.31 3.55 3.57 16.64 1.34 1.29 54.7 69.9 6.92Middleburg Financial Corporation MBRG 985,191 0.28 3.37 4.00 34.92 1.47 1.41 51.9 68.6 6.64National Bankshares, Inc. NKSH 935,374 1.51 12.52 4.10 21.60 0.35 1.02 128.2 116.4 4.43C&F Financial Corporation CFFI 855,657 0.51 6.39 5.86 38.27 2.51 2.87 41.8 64.4 9.02Old Point Financial Corporation OPOF 834 965 0 82 8 26 3 62 31 32 1 36 1 00 83 2 100 3 4 01Old Point Financial Corporation OPOF 834,965 0.82 8.26 3.62 31.32 1.36 1.00 83.2 100.3 4.01American National Bankshares Inc. AMNB 789,184 1.02 7.79 3.87 23.67 0.91 1.37 96.8 94.8 5.78Access National Corporation ANCX 702,324 0.76 8.34 3.47 59.41 1.04 1.31 47.0 81.1 0.87Valley Financial Corporation VYFC 674,479 0.27 3.88 2.91 12.36 1.48 1.37 22.0 51.4 2.94Monarch Financial Holdings, Inc. MNRK 597,159 0.20 2.66 2.88 59.56 1.35 1.44 31.5 70.0 0.00Alliance Bankshares Corporation ABVA 572,849 -1.63 -21.29 2.46 9.60 2.66 1.56 10.2 27.5 0.00Vill B k d T t Fi i l C VBFC 572 408 0 11 1 57 3 25 23 95 2 00 1 28 18 8 40 8 0 00Village Bank and Trust Financial Corp. VBFC 572,408 0.11 1.57 3.25 23.95 2.00 1.28 18.8 40.8 0.00Central Virginia Bankshares, Inc. CVBK 486,268 -1.95 -32.45 3.16 19.12 2.38 1.29 10.4 51.2 5.25Southern National Bancorp of Virginia, Inc. SONA 431,924 0.29 1.75 3.26 9.85 1.04 1.40 44.2 64.2 0.00First Capital Bancorp, Inc. FCVA 431,706 0.04 0.48 2.90 6.31 1.53 1.36 17.2 48.5 0.00Bank of Virginia BOVA 203,712 -0.67 -7.48 2.91 5.96 0.27 1.89 10.3 63.2 0.00First Bankshares, Inc. SUFB 184,158 0.14 1.52 2.84 11.91 0.48 1.44 6.7 39.9 0.00Bank of McKenney BOMK 165,462 0.76 6.92 4.14 20.98 NA 1.03 10.6 61.0 4.91
Average: 700,170 0.13 0.25 3.46 23.47 1.50 1.50 45.24 64.90 4.81Median: 674,479 0.27 2.66 3.26 20.98 1.36 1.37 35.10 64.20 5.08
Fauquier Bankshares, Inc. FBSS 514,515 0.73 8.65 4.19 24.45 0.83 1.09 39.5 94.5 7.27
44
*Average and median include only those institutions with dividends paid.Data provided as of December 31, 2008. Market pricing data as of 3/31/09. Source: SNL
FAUQUIER BANKSHARES, INC.
Contact Information
Executive Contacts
Randy K. FerrellPresident & Chief Executive Officer
MAIN OFFICE CATLETT
Eric P. GraapTHE PLAINS NEW BALTIMORE
Executive Vice President& Chief Financial Officer
www.fauquierbank.com
VIEW TREE SUDLEY ROAD
45FAUQUIER BANKSHARES, INC.
BEALTON OLD TOWN MANASSAS