Fauquier Bankshares, Inc. (the Company) (NASDAQ: FBSS)

Fauquier Bankshares, Inc. (the Company) (NASDAQ: FBSS), parent company of The Fauquier Bank, stated net income of $2.10M, or $0.540 for each diluted share for the quarter finished September 30, 2k19, contrast with $1.60M, or $0.410 for each diluted share for the prior quarter and $1.30M, or $0.350 for each diluted share for the 3rd-quarter of 2k18.

For the quarter finished September 30, 2k19, the Company’s return on average equity (ROE) and return on average assets (ROA) were 12.460 percent and 1.140 percent, respectively, contrast with 9.940 percent and 0.890 percent for the previous quarter, respectively, and 8.960 percent and 0.790 percent, for the 3rd-quarter of 2k18, respectively.

Total assets were $726.30M on September 30, 2k19 contrast with $717.50M for the previous quarter and $670.00M on September 30, 2k18.  Net loans were $539.80M on September 30, 2k19 contrast with $538.60M for the prior quarter and $527.80M on September 30, 2k18.  Total deposits were $614.00M on September 30, 2k19 contrast with $607.30M for the prior quarter and $566.20M on September 30, 2k18.  Lower cost transaction deposits (demand and interest checking accounts) were $354.50M on September 30, 2k19 contrast with $351.90M for the prior quarter and $345.90M on September 30, 2k18.

Net interest margin was 3.730 percent for the 3rd-quarter of 2k19, unchanged when contrast with the prior quarter, and 3.810 percent for the 3rd-quarter of 2k18.  Net interest income was $6.20M for the 3rd-quarter of 2k19, relatively unchanged when contrast with the prior quarter and $5.80M for the 3rd-quarter of 2k18.

The Company’s allowance for loan loss methodology determines the level of loan provision at the end of each quarter.  Based on loan portfolio growth, net charge-off history, asset quality indicators, impaired loans, and other qualitative factors, the allowance for loan losses was $5.40M or 0.990 percent of total loans on September 30, 2k19 relatively unchanged when contrast the previous quarter and  $5.20M or 0.980 percent of total loans on September 30, 2k18.

Nonperforming assets were $6.70M on September 30, 2k19, contrast with $7.10M for the prior quarter and $9.00M on September 30, 2k18.  Included in nonperforming assets for the quarter were $5.30M of nonperforming loans and $1.40M of other real estate owned.  Net loan charge-offs were $14,000.00 for the 3rd-quarter of 2k19 contrast with $77,000.00 for the previous quarter and net loan recoveries of $41,000.00 for the 3rd-quarter of 2k18.

Noninterest income was $1.60M in the 3rd-quarter of 2k19, contrast with $1.40M for the prior quarter and $1.30M for the 3rd-quarter of 2k18.

Noninterest cost for the 3rd-quarter of 2k19 was $5.40M in contrast with $5.50M for the prior quarter and $5.50M for the 3rd-quarter of 2k18.

Shareholders’ equity was $66.00M on September 30, 2k19 contrast with $64.10M for the prior quarter and $58.30M on September 30, 2k18.  Book value for each common share was $17.430 on September 30, 2k19 contrast with $16.940 for the previous quarter and $15.440 on September 30, 2k18.