On February 18, 2016, Fauquier Bankshares Inc. announced the appointment of Marc J. Bogan as president of the company and the Bank effective February 18, 2016. Mr. Bogan will also become chief executive officer of the company and the Bank, with such appointment effective March 31, 2016. The appointments are being made in connection with the planned retirement of Randy K. Ferrell from the company and the Bank, which was publicly announced by the company on March 9, 2015.

Mr. Ferrell retired as president of the company and the Bank effective February 18, 2016 to allow the appointment of Mr. Bogan as the president of the company and the Bank and will be retiring as chief executive officer of the company and the Bank effective March 31, 2016 following a transition period. Mr. Ferrell is also retiring as a director of the company and the Bank effective March 31, 2016. On February 18, 2016, Mr. Bogan was appointed to the company's board of directors to serve until the 2016 annual meeting of shareholders of the company, at which time he will be nominated for election to the company's board.

Mr. Bogan will serve on the executive, board governance and trust committees of the company's board. Mr. Bogan was also appointed to the board of directors of the Bank on February 18, 2016. He will not receive compensation as a director of the company and the Bank, but will be compensated in his capacity as an executive officer.

Mr. Bogan, age 49, has over 24 years of experience in the financial services industry. Prior to joining the company, Mr. Bogan had served as president and chief operating officer of NewDominion Bank in Charlotte, North Carolina, since June 2011.