SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 31, 2001
FAUQUIER BANKSHARES, INC.
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(Exact Name of Registrant as Specified in Charter)
Virginia 2-25805 54-128819
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(State or Other) (Commission File Number) (IRS Employer Identification No.)
Jurisdiction of Incorporation)
10 Courthouse Square, Warrenton, Virginia 20186
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(Address of Principal Executive Offices (Zip Code)
Registrant's telephone number, including area code: (540) 347-2700
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Former name or address, if changed since last report:
ITEM 5. OTHER EVENTS.
On January 29, 2001, The Fauquier Bank, a wholly owned subsidiary of
Fauquier Bankshares, Inc., recovered $542,000, net of a $25,000 deductible, from
its insurance carrier for losses resulting from a misappropriation of cash
discovered in early 2000. This recovery will be recorded as income during the
first quarter of the year ending December 31, 2001.
On February 28, 2000, the Bank was first advised by its accountants as
to the possible misappropriation of cash in the approximate amount of $437,000.
The Bank immediately reported the loss to its insurance carrier and began an
aggressive investigation of the misappropriation. The $437,000 loss was recorded
in the year ended December 31, 1999.
Based on the ongoing investigation of the misappropriation, an
additional $130,000 loss was recorded in the year ended December 31, 2000.
Subject to further results of the ongoing investigation, additional insurance
recoveries, if any, would be recorded as income in the year received.
A press release announcing the insurance recovery is attached as
Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PROFORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) Not applicable
(b) Not applicable
(c) Exhibits
Exhibit 99.1 Press Release dated January 31, 2001.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FAUQUIER BANKSHARES, INC.
Date: February 1, 2001 By: /s/ Eric P. Graap
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Eric P. Graap
Senior Vice President and
Chief Financial Officer
Exhibit Index
Number Document
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99.1 Press release issued by the registrant on January 31, 2001