Revenue during the quarter dropped 14.18 percent to $5.83 million from $6.79 million in the previous year period. Net interest income for the quarter dropped 0.94 percent over the prior year period to $4.96 million. Non-interest income for the quarter fell 31.42 percent over the last year period to $1.29 million.

Fauquier Bankshares has made provision of $0.42 million for loan losses during the quarter, up 325 percent from $0.10 million in the same period last year.

Net interest margin contracted 24 basis points to 3.45 percent in the quarter from 3.69 percent in the last year period. Efficiency ratio for the quarter deteriorated to 79.03 percent from 72.73 percent in the previous year period. A rise in efficiency ratio suggests a fall in profitability.

Marc Bogan, president and chief executive officer, said, "While our year-to-date results do not comprehensively reflect satisfactory performance in 2016, our team made strides in the third quarter of 2016 toward implementing a strategy that will benefit our shareholders and our company in the coming years. We are steadily beginning to grow earning assets and our core deposit growth continues to be strong. Our profitability in the third quarter of 2016 compared unfavorably to the prior year partially due to the recognition of a one-time event in the same period of 2015. Excluding one-time events and non-recurring gains recognized in the third quarter of 2015 and the second quarter of 2016, neither period exhibits acceptable profitability for our organization. However, I am encouraged by the strategic progress we are making, and I expect earnings, much like asset and loan growth, to slowly begin to improve in the future."

Investments stood at $47.96 million as on Sep. 30, 2016, down 15.55 percent or $8.83 million from year-ago. Shareholders equity stood at $54.26 million as on Sep. 30, 2016, down 4.95 percent or $2.82 million from year-ago.

Return on average assets moved down 46 basis points to 0.44 percent in the quarter from 0.90 percent in the last year period. At the same time, return on average equity decreased 429 basis points to 5.11 percent in the quarter from 9.40 percent in the last year period.

Meanwhile, nonperforming assets to total assets was 0.73 percent in the quarter, up from 0.64 percent in the last year period.

Tier-1 leverage ratio stood at 9.16 percent for the quarter, down from 9.98 percent for the previous year quarter. Book value per share was $14.46 for the quarter, down 5.12 percent or $0.78 compared to $15.24 for the same period last year.