Parent Corporation Only Financial Statements

12 Months Ended

Dec. 31, 2013

Parent Corporation Only Financial Statements [Abstract]

Parent Corporation Only Financial Statements

Note 23. Parent Corporation Only Financial Statements

FAUQUIER BANKSHARES, INC.

(Parent Corporation Only)

Balance Sheets

(In thousands)	December 31,
Assets	2013			2012
Cash on deposit with subsidiary bank	$	553		$	286
Interest-bearing deposits at other banks		1,900			1,900
Investment in subsidiaries, at cost, plus equity in undistributed net income		53,026			50,002
Other assets		217			356
Total assets	$	55,696		$	52,544
Liabilities and Shareholders' Equity
Company-obligated mandatorily redeemable capital securities	$	4,124		$	4,124
Other liabilities		345			672
Total liabilities		4,469			4,796
Shareholders' Equity
Common stock		11,516			11,467
Retained earnings, which are substantially distributed earnings of subsidiaries		40,652			37,993
Accumulated other comprehensive income (loss)		(941	)		(1,712	)
Total shareholders' equity		51,227			47,748
Total liabilities and shareholders' equity	$	55,696		$	52,544

FAUQUIER BANKSHARES, INC.

(Parent Corporation Only)

Statements of Income

For Each of the Three Years Ended December 31, 2013

(In thousands)	2013			2012			2011
Income
Interest Income	$	18		$	18		$	10
Dividends from subsidiaries		2,282			2,274			2,761
Total interest and dividend income		2,300			2,292			2,771
Expenses
Interest expense		199			200			199
Legal and professional fees		139			163			143
Directors' fees		133			160			257
Miscellaneous		122			158			34
Total expense		593			681			633
Income before income tax benefits and equity in undistributed net income of subsidiaries		1,707			1,611			2,138
Income tax benefit		(157	)		(225	)		(212	)
Income before equity in undistributed net income of subsidiaries		1,864			1,836			2,350
Equity in undistributed net income of subsidiaries		2,467			217			1,767
Net income	$	4,331		$	2,053		$	4,117

FAUQUIER BANKSHARES, INC.

(Parent Corporation Only)

Statements of Cash Flows

For Each of the Three Years in the Period Ended December 31, 2013

(In thousands)	2013			2012			2011
Cash Flows from Operating Activities
Net income	$	4,331		$	2,053		$	4,117
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed earnings of subsidiaries		(2,467	)		(217	)		(1,767	)
Deferred tax expense		38			-			-
Tax effect of restricted stock awards		(56	)		-			(33	)
Amortization of unearned compensation		147			140			136
(Increase) decrease in other assets		(8	)		23			12
Increase (decrease)  in other liabilities		(4	)		29			(36	)
Net cash provided by operating activities		1,981			2,028			2,429
Cash Flows from Financing Activities
Cash dividends paid		(1,782	)		(1,774	)		(1,761	)
Issuance of common stock		68			153			226
Net cash (used in) financing activities		(1,714	)		(1,621	)		(1,535	)
Increase (decrease) in cash and cash equivalents		267			407			894
Cash and Cash Equivalents
Beginning		2,186			1,779			885
Ending	$	2,453		$	2,186		$	1,779