OLD POINT NATIONAL BANK ANNOUNCES STRATEGIC ALLIANCE WITH TIDEWATER HOME FUNDING

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01/31/2024 - 01:45 PM

HAMPTON, Va., Jan. 31, 2024 /PRNewswire/ -- Old Point National Bank (Old Point or the Bank) is proud to announce a strategic alliance with Tidewater Home Funding, LLC based in Chesapeake, Virginia. As a part of this alliance, Old Point will transition the processing of mortgage loans to Tidewater Home Funding. Old Point will maintain the branding of its mortgage division as Old Point Mortgage and will continue to underwrite and service select portfolio mortgage products through its retail and private banking arms. This alliance will also allow Old Point to expand its mortgage product offerings.

Joseph Witt, President, Financial Services, Chief Strategy Officer of Old Point National Bank shared, "This strategic alliance between Old Point and Tidewater Home Funding will expand opportunities for both organizations, continue to provide our customers with excellent service and local decision-making, and maximize value to our shareholders."

Positions will be available at Tidewater Home Funding for Old Point's mortgage loan originators. Sherry Thacker, Executive Vice President and Mortgage Director with Old Point, will continue to lead Old Point's mortgage loan production efforts.

"We look forward to partnering with Old Point and expanding Tidewater Home Funding's efforts to increase home ownership across our region," said Kim S. Curtis, President & CEO of Tidewater Home Funding, LLC.

About Old Point National Bank
Old Point National Bank is a wholly-owned subsidiary of Old Point Financial Corporation (Nasdaq: OPOF) which serves the Hampton Roads and Richmond regions of Virginia. It is a locally owned and managed full-service community bank offering a wide range of financial services, from solutions focused on individuals and small businesses to comprehensive commercial services. Additional information about the company is available at oldpoint.com.

About Tidewater Home Funding
Tidewater Home Funding is proud to serve the mortgage needs of families across Virginia, North Carolina, and Florida. Founded over 20 years ago, Tidewater Home Funding has approved delegated underwriting authority with Virginia Housing, Fannie Mae, Freddie Mac, VA, FHA, and USDA. Additional information about the company is available at tidewaterhomefunding.com. NMLS ID #41552

For more information, contact Laura Wright, Vice President/Marketing Director, Old Point National Bank, at lwright@oldpoint.com or (757) 728-1743.