Fauquier Bankshares, Inc. Announces First Quarter 2020 Results
FAUQUIER BANKSHARES (FBSS)
US:NASDAQ Investor Relations:
investor.tfb.bank
Company Research
Source: PR Newswire
WARRENTON, Va., April 20, 2020 /PRNewswire/ -- Fauquier Bankshares, Inc. (the Company) (NASDAQ: FBSS), parent company of The Fauquier Bank, reported net income of $1.4 million, or $0.37 per diluted share for the quarter ended March 31, 2020, compared with $1.6 million, or $0.41 per diluted share for the prior quarter and $1.6 million or $0.43 per diluted share for the first quarter of 2019. For the quarter ended March 31, 2020, the Company's return on average equity (ROE) and return on average assets (ROA) were 8.20% and 0.78%, respectively, compared with 9.35% and 0.85% for the prior quarter, respectively, and 10.83% and 0.96%, for the first quarter of 2019, respectively. Marc Bogan, President and CEO, said, "Our financial results in the first quarter were good, however the onset of the Coronavirus required a shift in our approach to doing business. Our team has worked tirelessly to implement the new regulatory relief programs that were designed to help our clients' financial pos
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