Fauquier Bankshares Inc. reported earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $956,000 or $0.26 per diluted share on net interest income of $5,468,000 against net income of $935,000 or $0.26 per diluted share on net interest income of $4,917,000 in the same period of last year. Income before income taxes was $1,279,000 against $1,414,000 in the same period of last year. Interest income was $7,092,000 against $7,268,000 in the same period of last year. Book value at September 30, 2009 was $11.84 against $11.38 as at September 30, 2008. Return on average assets was 0.70% against 0.73% in the same period of last year. Return on average equity was 8.87% against 8.85% in the same period of last year. Earnings for the third quarter were boosted by several items, the most significant being a $551,000 or 11% increase in net interest income. For the nine months ended September 30, 2009, the company reported net income of $2,603,000 or $0.72 per diluted share on net interest income of $15,593,000 against net income of $2,886,000 or $0.81 per diluted share on net interest income of $14,611,000 in the same period of last year. Income before income taxes was $3,539,000 against $4,110,000 in the same period of last year. Interest income was $20,801,000 against $21,740,000 in the same period of last year. Return on average assets was 0.66% against 0.77% in the same period of last year. Return on average equity was 8.26% against 9.04% in the same period of last year. The decline in net income for the first nine months of 2009 compared to the first nine months of 2008 was due to several items, the most significant being increased assessments by the FDIC, charges associated with a proxy contest with dissident shareholders and an impairment loss on corporate bond investments and equity shares held in Silverton Bank. For the third quarter ended September 30, 2009, the company reported net loan charge-off were $230,000 against $66,000 in the same period of last year.

Gregory D. Frederick resigned from his position as Executive Vice President and Chief Operating Officer of Fauquier Bankshares Inc. and its subsidiary, Fauquier Bank, effective October 26, 2009.

The Board of Directors of Fauquier Bankshares Inc. recently announced a quarterly dividend of $0.20 per share. This dividend was declared for shareholders of record as of the close of business on September 18, 2009 and will be payable on October 1, 2009. The $0.20 per share dividend represents a $0.80 dividend on an annualized basis.