On April 1, 2021, Virginia National Bankshares Corporation completed its acquisition of Fauquier Bankshares Inc. The merger of Fauquier with and into Virginia National was effected pursuant to the terms and conditions of the Agreement and Plan of Reorganization, dated as of September 30, 2020, between Virginia National and Fauquier, and a related Plan of Merger. Pursuant to the Merger Agreement and effective as of the effective time of the Merger, John B. Adams, Jr., Marc J. Bogan, Kevin T. Carter, Randolph D. Frostick, Jay B. Keyser and Sterling T. Strange, III, former members of the Fauquier board of directors, were appointed to the boards of directors of Virginia National and Virginia National Bank. They will serve until the 2021 annual meeting of shareholders of Virginia National, at which time they will stand for election to serve as directors of Virginia National. Mr. Adams has been appointed Vice Chairman of the board of directors and to serve on the Executive Committee and as Chair of the Compensation Committee. Mr. Bogan has been appointed to serve on the Executive Committee and on the Corporate Governance Committee. Mr. Carter has been appointed to serve on the Compensation Committee. Mr. Frostick has been appointed to serve on the Corporate Governance Committee. Mr. Keyser has been appointed to serve as Chair of the Audit and Compliance Committee. Mr. Strange has been appointed to serve on the Audit and Compliance Committee and the Corporate Governance Committee.