Welcome to our dedicated page for Old Point Finl news (Ticker: OPOF), a resource for investors and traders seeking the latest updates and insights on Old Point Finl stock.
Old Point Financial Corporation (OPOF) maintains its position as a trusted provider of community banking and wealth management services through strategic initiatives and local engagement. This dedicated news hub offers investors and financial professionals centralized access to official updates and market-relevant developments.
Track OPOF's financial performance with quarterly earnings reports, strategic partnership announcements, and regulatory filings. Stay informed about community reinvestment programs, trust service expansions, and operational efficiency measures that demonstrate the company's commitment to sustainable growth.
Our curated news collection serves as an essential resource for monitoring credit management improvements, deposit product innovations, and asset quality enhancements. Discover updates on leadership changes, dividend declarations, and technology implementations that shape OPOF's market position.
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TowneBank (NASDAQ: TOWN) and Old Point Financial Corporation (NASDAQ: OPOF) have announced the expected closing date and election deadline for their merger after receiving all necessary regulatory approvals. The merger is set to close around September 1, 2025, with an election deadline of August 26, 2025, at 5:00 p.m. ET.
Old Point shareholders can choose to receive either $41.00 in cash, 1.14 shares of TowneBank common stock, or a combination of both for each Old Point share. The stock consideration will be subject to allocation procedures ensuring between 50% and 60% of Old Point shares receive stock consideration. Shareholders who don't make an election by the deadline will have no control over the type of consideration they receive.
Old Point Financial Corporation (NASDAQ: OPOF) reported Q2 2025 net income of $1.2 million ($0.24 per diluted share), down from $2.2 million in Q1 2025 and $2.5 million in Q2 2024. The company announced its planned merger with TowneBank, which has received shareholder approval and awaits regulatory clearance.
Key Q2 2025 metrics include: Total assets of $1.4 billion (down 3.3% from December 2024), net loans of $994.3 million (down 0.4%), and deposits decreased by $46.2 million (3.7%). Net interest margin improved to 3.70% from 3.63% in Q1. Non-performing assets decreased by 19.7% to $3.3 million compared to Q1 2025.
The Bank maintains strong capital positions with a Tier 1 Capital ratio of 13.29% and leverage ratio of 10.57%. The company declared a quarterly dividend of $0.14 per share.
Old Point Financial Corporation (NASDAQ: OPOF) announced that shareholders have approved its merger with TowneBank. The transaction, which includes the merger of both Old Point Financial Corporation and Old Point National Bank into TowneBank, is expected to complete in the second half of 2025, subject to regulatory approvals and customary closing conditions.
CEO Robert Shuford, Jr. highlighted strong shareholder support for the merger-related proposals, emphasizing the strategic value of the partnership and its potential positive impact on community growth.
Old Point Financial Corporation (OPOF) has announced a quarterly cash dividend of $0.14 per share on its common stock. The dividend will be paid on June 30, 2025 to shareholders of record as of June 9, 2025. This dividend payment maintains the same amount as the previous quarter. Based on the stock's closing price of $39.01 on May 23, 2025, the dividend represents an annual yield of approximately 1.4%.
Old Point Financial reported Q1 2025 net income of $2.2 million ($0.42 per diluted share), compared to Q4 2024's $2.9 million ($0.57 per share) and Q1 2024's $1.7 million ($0.34 per share). The company announced a historic merger agreement with TowneBank on April 2, 2025, pending shareholder and regulatory approvals.
Key financial highlights include:
- Total assets remained stable at $1.5 billion
- Net loans increased by $2.3 million to $1.0 billion
- Deposits grew by $2.6 million
- Net interest margin improved to 3.63%
- Book value per share increased 2.32% from Q4 2024
The bank maintained strong liquidity with $456.5 million (31.5% of total assets) and declared a quarterly dividend of $0.14 per share. Asset quality metrics showed slight pressure with non-performing assets at 0.29% of total assets, up from 0.19% in Q4 2024.
Old Point Financial has announced its quarterly cash dividend of $0.14 per share on common stock. The dividend will be paid on March 28, 2025 to shareholders of record as of March 5, 2025. This dividend payment maintains the same level as the previous quarter. Based on the stock's closing price of $29.73 on February 18, 2025, the dividend represents an annual yield of approximately 1.9%.
Old Point Financial (OPOF) reported record earnings for Q4 and full-year 2024. Q4 net income reached $2.9 million ($0.57 per diluted share), up from $2.4 million in Q3 2024 and $1.5 million in Q4 2023. Full-year 2024 net income was $9.5 million ($1.88 per diluted share), compared to $7.7 million in 2023.
Total assets were $1.5 billion as of December 31, 2024, a slight increase of 0.3% year-over-year. Net loans held for investment decreased 6.5% to $998.7 million, while total deposits grew 2.0%. The company maintained strong asset quality with non-performing assets at 0.19% of total assets. The net interest margin was 3.52% in Q4 2024, and the company declared a quarterly dividend of $0.14 per share.
Cost-saving measures implemented in 2024, including a 12% reduction in employee headcount, contributed to improved operational efficiency.
Old Point Financial has announced a quarterly cash dividend of $0.14 per share on its common stock. The dividend will be paid on December 27, 2024 to shareholders of record as of December 4, 2024. This dividend maintains the same level as the previous quarter. Based on the stock's closing price of $20.30 on November 19, 2024, the dividend represents an annual yield of approximately 2.76%.
Old Point Financial (NASDAQ: OPOF) has appointed Cathy W. Liles as Senior Vice President and Chief Financial Officer. Liles, who has been serving as Interim CFO since July 2024, joined the company in May 2024 as Chief Accounting Officer. She previously held executive positions at American National Bankshares and Carter Bank & Trust, and was a partner at Forvis LLP. A Certified Public Accountant with a B.S. in Accounting from Belmont Abby College, Liles is also a member of the Virginia Bankers Association's CFO Committee.
Old Point Financial (OPOF) reported Q3 2024 net income of $2.4 million with diluted EPS of $0.47, compared to $2.5 million and $0.50 in Q2 2024. Total assets reached $1.5 billion, up 2.2% from December 2023. Net loans decreased 5.1% to $1.0 billion, while total deposits increased 4.3%. The company's net interest margin was 3.56%, down from 3.62% in Q2. Notable developments include $997 thousand in one-time costs related to cost-saving initiatives expected to reduce annual expenses by $5.0 million. Asset quality remains strong with non-performing assets at 0.18% of total assets.
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