Virginia National Bankshares completed the merger with Fauquier Bankshares.

Virginia National Bankshares, the parent holding company of Virginia National Bank, completed the merge with Fauquier Bankshares, the parent holding company of The Fauquier Bank. Financial terms were not disclosed. Based on financial information as of December 31, 2020, the combined company would have c.$1.7bn in assets, $1.5bn in deposits, $1.2bn in loans and $1.1bn in assets under management. Fauquier Bankshares reported a $5.9m profit last year. It ended 2020 with total assets of $867.1m and shareholders’ equity of $72.5m. "The enhanced scale and complementary business lines resulting from this transaction provides the best opportunity for both banks to better serve our major constituencies: our clients, our employees, our shareholders and our communities. We are committed to using the best practices of both companies to increase our market share across Virginia," Marc J. Bogan, The Fauquier Bank President and CEO.