Virginia National Bankshares Corp

The Company is a bank holding company incorporated in Virginia on February 21, 2013. It acquired all outstanding shares of Virginia National Bank, its principal operating subsidiary, on December 16, 2013, making the Bank a wholly-owned subsidiary. The Company is regulated by the Federal Reserve under the BHCA and by the SEC under the Exchange Act. Virginia National Bank was organized in 1998 under federal law as a national banking association and commenced operations on July 29, 1998, after receiving its charter from the OCC. It engages in general commercial and retail banking. The Bank received fiduciary powers in January 2000. Its deposits are insured by the FDIC. Prior to July 2018, the Bank had a wholly-owned subsidiary, VNBTrust, a national trust bank formed in 2007. Effective July 1, 2018, VNBTrust merged into the Bank, which continues to offer trust and estate administration services under the name VNB Trust and Estate Services. Through its financial subsidiary, Fauquier Bank Services, Inc., the Bank holds equity ownership interests in Bankers Insurance, LLC, a Virginia independent insurance company, and Bankers Title Shenandoah, LLC, a title insurance company. Both of these entities are owned by a consortium of Virginia community banks.