On June 27, 2016, Fauquier Bankshares Inc. announced that effective September 2, 2016, Eric P. Graap will retire from his role as Executive Vice President and Chief Financial Officer of the Company. Mr. Graap will also be retiring as a director of the Company and the Bank effective September 2, 2016. The Company's board of directors was notified by Mr. Graap of his pending retirement on June 23, 2016.

The Company also announced that its board of directors has appointed Christine E. Headly to succeed Mr. Graap upon his retirement. Ms. Headly will be Executive Vice President and Chief Financial Officer of the Company and the Bank. Since May 2013, Ms. Headly has served as Senior Vice President and Controller of the Bank, and previously served as a Vice President and Controller beginning in 2007 through May 2013.

Ms. Headly joined the Bank in 1999 and over the last 17 years has also served as the Financial Analyst. Prior to joining the Bank, Ms. Headly was an economist at the Board of Governors of the Federal Reserve System.