Fauquier Bankshares Swings to Q4 Loss on Stronger Revenues (NASDAQ:FBSS)

Category: Home Equity Loans Published: Thursday, 25 February 2016 Written by Super User

Fauquier Bankshares (NASDAQ:FBSS), a bank holding company, on Wednesday swung to a net loss for Q4 2015 on higher revenues versus the comparable period in 2014. The net loss for the quarter was $3.8 million, or $1.00 loss per share, compared to a net income of $1.2 million, or $0.30 earnings per share in Q4 2014. Analyst estimates were not available for comparison. Revenues were $6.6 million, up slightly from $6.4 million reported for the same period last year. Shares were inactive pre-bell, below the midpoint of the 52-week range of $13.47 $18.70.

The stock is down 2.23% or $0.34 after the news, hitting $15.01 per share. About 2,701 shares traded hands or 159.21% up from the average. Fauquier Bankshares, Inc. (NASDAQ:FBSS) has declined 4.72% since July 7, 2015 and is downtrending. It has outperformed by 6.29% the Samp;P500.

Fauquier Bankshares, Inc. operates as a bank holding company for The Fauquier Bank that provides consumer and commercial banking services to individuals, businesses, and industries. The company accepts various deposits, such as non-interest bearing demand deposit accounts, money market deposit accounts, negotiable order of withdrawal accounts, and time deposits. Its loan products include secured and unsecured commercial and real estate loans, stand-by letters of credit, credit for installment, unsecured and secured personal loans, residential mortgages, and home equity loans, as well as other consumer financing products.

The company also provides safe deposit, credit cards, cash management, direct deposits, notary, night depository, travel and gift cards, cashiers checks, domestic collections, savings bonds, bank drafts, automated teller, drive-in tellers, Internet banking, mobile banking, telephone banking, and banking by mail services. In addition, it offers personalized services comprising investment management, trust, estate settlement, retirement, insurance, and brokerage services. As of August 4, 2015, the company offered its services through 11 banking offices in Fauquier and Prince William counties in Virginia. Fauquier Bankshares, Inc. was founded in 1902 and is based in Warrenton, Virginia.

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