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Section 1: 8-K (8-K)

fbss-8k_20180515.htm

 

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 15, 2018

 

Fauquier Bankshares, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Virginia

000-25805

54-1288193

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

 

 

 

10 Courthouse Square,

Warrenton, Virginia

 

20186

(Address of Principal Executive Offices)

 

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (540) 347-2700

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

 

 

 


 

Item 7.01 Regulation FD Disclosure.

 

On May 15, 2018, the following presentation was made during the 2018 Annual Meeting of Shareholders of Fauquier Bankshares, Inc. A copy of this presentation is attached as Exhibit 99.1. The information in this Form 8-K and the Exhibit attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit

Number

 

Description

99.1

 

Fauquier Bankshares, Inc. 2018 Annual Meeting Presentation

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Fauquier Bankshares, Inc.

 

 

 

 

Date: May 15, 2018

 

By:

/s/ Christine E. Headly

 

 

 

Christine E. Headly

 

 

 

Executive Vice President and Chief Financial Officer

 

 

 

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Section 2: EX-99.1 (EX-99.1)

fbss-ex991_6.pptx.htm

Slide 1

_____________________ FAUQUIER BANKSHARES, INC. ANNUAL SHAREHOLDERS’ MEETING May 15, 2018

Slide 2

Today’s presentation may include forward-looking statements. These statements represent the Company's beliefs regarding future events that, by their nature, are uncertain and outside of the Company’s control. The Company’s actual results and financial condition may differ, possibly materially, from what is indicated in these forward-looking statements. Additional information concerning the Company and its business, including additional factors that could materially affect the Company’s financial results, is included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 under “Management’s Discussion and Analysis of Financial Condition and Results of Operation.” FAUQUIER BANKSHARES, INC. Safe Harbor Statement

Slide 3

FAUQUIER BANKSHARES, INC. Board of Directors John B. Adams, Jr. Chairman; President & CEO Bowman Companies Marc J. Bogan President & CEO The Fauquier Bank Kevin T. Carter President Guests, Inc. Donna D. Flory Vice President Flory Small Business Development Center, Inc. Randolph D. Frostick, Esq. President & Shareholder Vanderpool, Frostick, & Nishanian

Slide 4

Board of Directors Jay B. Keyser Chief Executive William A. Hazel Family Randolph T. Minter Vice Chairman; President & Owner Moser Funeral Home Brian S. Montgomery President & Owner Warrenton Foreign Car, Inc. P. Kurtis Rodgers President & CEO S.W. Rodgers & Co., Inc. Sterling T. Strange, III President & CEO The Solution Design Group, Inc. FAUQUIER BANKSHARES, INC.

Slide 5

The Fauquier Bank’s Guiding Principles FAUQUIER BANKSHARES, INC. Vision The Fauquier Bank seeks Excellence through an Engaged and Empowered Team, building valued Relationships with our Customers and Community. Values Excellence Engagement Empowerment Teamwork Relationships

Slide 6

FAUQUIER BANKSHARES, INC. Aligning Values with Strategic Initiatives to Increase Shareholder Value

Slide 7

Earnings Per Share, Diluted FAUQUIER BANKSHARES, INC. Q1 2018 $ 0.42 * Adjusted based on net deferred tax revaluation

Slide 8

Book Value per Share FAUQUIER BANKSHARES, INC.

Slide 9

Total Return FAUQUIER BANKSHARES, INC. Return as of 3/31/18 FBSS 46.56% S&P 500 35.37%

Slide 10

FAUQUIER BANKSHARES, INC. Seeking Excellence Balance Sheet and Net Interest Income Growth Increase in Fee Income Manage Expenses Grew loans 8.5%, or $39 million in 2017 Grew deposits by 4.4%, or $24 million in 2017 Increased net interest income in Q1 2018 by 16% year over year Online lending portal to small business and consumers rolled out in 2017, currently $2MM in commitments at a weighted average yield of 11% Secured based line of credit program initiated in 2017 Originated our first saleable secondary market loan in Q4 2017 3.2% increase in non interest income in 2017 over previous year Non interest expense flat in 2017 compared to previous year, even with 8.5% loan growth and 3.2% asset growth Reduced branch staff hours while maintaining market competitive hours of operation Increased assets to employees to $ 4.297 million at year end 2017 from $ 4.163 million at year end 2016

Slide 11

Formed Employee Advisory Committee in 2017 Improved communication and employee engagement across Company TFB Company Picnic Bowling League, Book Club, and more! 3rd annual Employee Satisfaction Survey Implemented bereavement pay Employee Theme Days Reviewed Retail Branch Hours Expanded training resources and career development opportunities Increased Training and Development Budget – focus on High Potential Employees Engaged & Empowered Team FAUQUIER BANKSHARES, INC.

Slide 12

Opened 4,565 new accounts in 2017 12,469 online user ID’s – represents 70% of accounts 8,862 active mobile users, and 33,663 registered devices 32% of accounts use E-Docs Over 240 hours of volunteer time by TFB employees in 2017 Over $20,000 donated by TFB in 2017 Valued Relationships with our Customers and Community FAUQUIER BANKSHARES, INC.

Slide 13

FAUQUIER BANKSHARES, INC. 13

Slide 14

14 FAUQUIER BANKSHARES, INC. Net Income Q1 2018 $ 1,586 * Adjusted based on net deferred tax revaluation

Slide 15

Return on Average Assets (ROA) FAUQUIER BANKSHARES, INC. *Peer Group consists of 16 comparable Bank Holding Companies and Commercial Banks located in Virginia, Maryland and West Virginia. Averages of reported data used. (Source: SNL) Q1 2018 0.97 %

Slide 16

16 FAUQUIER BANKSHARES, INC. *Peer Group consists of 16 comparable Bank Holding Companies and Commercial Banks located in Virginia, Maryland and West Virginia. Averages of reported data used. (Source: SNL) Return on Average Equity (ROE) Q1 2018 11.44 %

Slide 17

Total Assets FAUQUIER BANKSHARES, INC. Growth 2017 3.23% 2016 3.83% 2015 -0.81% 2014 -1.54%

Slide 18

Loans, Net FAUQUIER BANKSHARES, INC. Growth Q1 2018 YOY 10.31% Q1 2018 -- 2017 8.53% 2016 3.60% 2015 1.75% 2014 -2.17%

Slide 19

Loan Portfolio FAUQUIER BANKSHARES, INC. As of December 31, 2017

Slide 20

Nonperforming Loans to Total Loans 20 FAUQUIER BANKSHARES, INC.

Slide 21

Total Deposits FAUQUIER BANKSHARES, INC. Growth Q1 2018 YOY 4.74% Q1 2018 1.27% 2017 4.37% 2016 4.17% 2015 -0.18% 2014 -2.78%

Slide 22

As of December 31, 2017 Deposit Portfolio FAUQUIER BANKSHARES, INC. Core Deposit Growth Q1 2018 YOY 3.90% Q1 2018 1.63% 2017 3.75% 2016 4.35% 2015 5.50% 2014 1.16%

Slide 23

Net Interest Margin 23 FAUQUIER BANKSHARES, INC.

Slide 24

FAUQUIER BANKSHARES, INC. Net Interest Income Q1 2018 $ 5,718

Slide 25

Total Non Interest Income 25 FAUQUIER BANKSHARES, INC. Q1 2018 $ 1,863

Slide 26

Assets Under Management (At Market Value) 26 FAUQUIER BANKSHARES, INC. Source: Wealth Management Services Statement of Condition and Yahoo Finance

Slide 27

Total Non Interest Expense 27 FAUQUIER BANKSHARES, INC. Q1 2018 $ 5,481

Slide 28

Efficiency Ratio FAUQUIER BANKSHARES, INC.

Slide 29

Capital Ratios FAUQUIER BANKSHARES, INC. December 31, 2016 December 31, 2017 March 31, 2018 Well Capitalized Threshold Leverage Ratio 9.23% 9.17% 9.08% 5.00% Common Equity Tier 1 Capital Ratio 12.22% 11.43% 11.74% 6.50% Tier 1 Capital Ratio 12.22% 11.43% 11.74% 8.00% Total Capital Ratio 13.17% 12.41% 12.78% 10.00% Tangible Equity to Total Assets 8.72% 8.71% 8.31% N/A

Slide 30

FAUQUIER BANKSHARES, INC. 30

Slide 31

Outlook FAUQUIER BANKSHARES, INC. Strategic Focus Grow loans with an emphasis on soundness and profitability Maintain balance in all asset drivers Increase income diversification Continued emphasis in Prince William County Maintain expenses Additional emphasis on Marketing, specifically Mortgage Banking and Wealth Management Cost effective funding of loan growth Employee empowerment and engagement to drive profitability

Slide 32

Peer Group Details FAUQUIER BANKSHARES, INC. Bank of Botetourt Bank of the James Financial Group, Inc. Blue Ridge Bankshares, Inc. County First Bank Eagle Financial Services, Inc. Farmers Bankshares, Inc. Freedom Bank of Virginia Highlands Bankshares, Inc. HomeTown Bankshares Corporation New Peoples Bankshares, Inc. Oak View National Bank Pinnacle Bankshares Corporation Potomac Bancshares, Inc. Virginia Community Bankshares, Inc. Virginia National Bankshares Corporation Virginia Partners Bank

Slide 33

Investor Relations Contacts Marc J. Bogan President & Chief Executive Officer [email protected] Christine E. Headly Executive Vice President & Chief Financial Officer [email protected] Tammy P. Frazier, CPA Vice President & Controller [email protected] www.tfb.bank MAIN OFFICE THE PLAINS VIEW TREE BEALETON GAINESVILLE SUDLEY ROAD NEW BALTIMORE CATLETT BRISTOW HAYMARKET CENTREVILLE ROAD Contact Information 33 FAUQUIER BANKSHARES, INC.

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