Parent Corporation Only Financial Statements

12 Months Ended

Dec. 31, 2011

Parent Corporation Only Financial Statements [Abstract]

Parent Corporation Only Financial Statements

Note 22. Parent Corporation Only Financial Statements

FAUQUIER BANKSHARES, INC.

(Parent Corporation Only)

Balance Sheets

December 31, 2011 and 2010

	December 31,
Assets	2011			2010
Cash on deposit with subsidiary bank	$	329,236		$	434,739
Interest-bearing deposits at other banks		1,450,000			450,000
Investment in subsidiaries, at cost, plus equity in undistributed net income		50,117,530			47,292,908
Other assets		347,299			185,153
Total assets	$	52,244,065		$	48,362,800
Liabilities and Shareholders' Equity
Company-obligated mandatorily redeemable capital securities	$	4,124,000		$	4,124,000
Other liabilities		549,205			133,237
Total liabilities		4,673,205			4,257,237
Shareholders' Equity
Common stock		11,384,392			11,277,346
Retained earnings, which are substantially distributed earnings of subsidiaries		37,503,865			34,892,905
Accumulated other comprehensive income (loss)		(1,317,397	)		(2,064,688	)
Total shareholders' equity		47,570,860			44,105,563
Total liabilities and shareholders' equity	$	52,244,065		$	48,362,800

FAUQUIER BANKSHARES, INC.

(Parent Corporation Only)

Statements of Income

For Each of the Three Years in the Period Ended December 31, 2011

	2011			2010			2009
Income
Interest Income	$	9,973		$	316		$	-
(Loss) on impairment of securities		-			-			(112,920	)
Dividends from Subsidiaries		2,761,484			3,315,023			2,877,259
		2,771,457			3,315,339			2,764,339
Expenses
Interest expense		198,859			117,316			109,051
Legal and professional fees		143,050			250,805			485,506
Directors' fees		256,565			301,978			203,663
Miscellaneous		34,204			103,807			217,658
		632,678			773,906			1,015,878
Income before income tax benefits and equity in undistributed net income of subsidiaries		2,138,779			2,541,433			1,748,461
Income tax benefit		(211,720	)		(205,606	)		(434,664	)
Income before equity in undistributed net income of subsidiaries		2,350,499			2,747,039			2,183,125
Equity in undistributed net income of subsidiaries		1,766,916			920,277			1,234,353
Net income	$	4,117,415		$	3,667,316		$	3,417,478

FAUQUIER BANKSHARES, INC.

(Parent Corporation Only)

Statements of Cash Flows

For Each of the Three Years in the Period Ended December 31, 2011

	2011			2010			2009
Cash Flows from Operating Activities
Net income	$	4,117,415		$	3,667,316		$	3,417,478
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed earnings of subsidiaries		(1,766,916	)		(920,277	)		(1,234,353	)
Deferred tax benefit					131,457			(50,844	)
Tax benefit of nonqualified options exercised		(33,083	)		(54,832	)		(10,162	)
Amortization of unearned compensation		136,593			246,789			208,666
(Increase) decrease in other assets		12,171			(28,469	)		481,873
Increase in other liabilities		(35,681	)		27,773			37,055
Net cash provided by operating activities		2,430,499			3,069,757			2,849,713
Cash Flows from Financing Activities
Cash dividends paid		(1,761,483	)		(2,615,023	)		(2,877,259	)
Issuance of common stock		225,481			308,865			108,202
Net cash (used in) financing activities		(1,536,002	)		(2,306,158	)		(2,769,057	)
Increase (decrease) in cash and cash equivalents		894,497			763,599			80,656
Cash and Cash Equivalents
Beginning		884,739			121,140			40,484
Ending	$	1,779,236		$	884,739		$	121,140