CHARLOTTESVILLE, Va. and WARRENTON, Va., March 26, 2021 (GLOBE NEWSWIRE) -- At separate shareholder meetings yesterday, shareholders of both Virginia National Bankshares Corporation (OTCQX: VABK), the parent holding company of Virginia National Bank, and Fauquier Bankshares, Inc. (NASDAQ: FBSS), the parent holding company of The Fauquier Bank, approved the previously announced merger of Fauquier into Virginia National. The parties expect the Merger to be effective on April 1, 2021.

Based on financial information as of December 31, 2020, the combined company would have approximately $1.7 billion in assets, $1.5 billion in deposits, $1.2 billion in loans and $1.1 billion in assets under management.

About Virginia National

Virginia National, headquartered in Charlottesville, Virginia, is the bank holding company for Virginia National Bank. The Bank has four banking offices in Charlottesville and one in Winchester, and offers loan, deposit and treasury management services in Richmond, Virginia. The Bank has entered into a lease for branch and office space in Richmond, Virginia and plans to open the office in the second quarter of 2021. Virginia National Bank offers a full range of banking and related financial services to meet the needs of individuals, businesses and charitable organizations, including fiduciary, trust and estate administration services under the name VNB Trust and Estate Services, and wealth and investment advisory services, including financial planning, under the name Sturman Wealth Advisors. Investment management services are also offered through Masonry Capital Management, LLC, a registered investment advisor and wholly-owned subsidiary of Virginia National. Virginia National’s stock trades on the OTC Markets Group’s OTCQX Market under the symbol “VABK.” Additional information about Virginia National is also available at www.vnbcorp.com.

About Fauquier

Fauquier Bankshares, Inc. and its principal subsidiary, The Fauquier Bank, had combined assets of $867.2 million and total shareholders' equity of $72.5 million at December 31, 2020. The Fauquier Bank is an independent community bank offering a full range of financial services, including internet banking, mobile banking, commercial, retail, insurance, wealth management, and financial planning services through eleven banking offices throughout Fauquier and Prince William counties in Virginia. Additional information about Fauquier is available at www.TFB.bank