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) historically generated news as a regional community banking and wealth management organization headquartered in Hampton, Virginia. As the parent company of The Old Point National Bank of Phoebus and Old Point Trust & Financial Services, N.A., Old Point reported on topics such as quarterly and annual financial results, capital and asset quality metrics, dividend declarations, and developments in its executive leadership.
Company press releases and related Form 8-K filings show that Old Point regularly issued detailed earnings updates. These communications discussed net income, net interest income, net interest margin, loan and deposit trends, non-performing assets, allowance for credit losses, and liquidity measures. Management commentary often addressed balance sheet positioning, cost-saving initiatives, and noninterest expense trends, providing context around the bank’s operating performance.
Old Point’s news flow also included recurring announcements of quarterly cash dividends on its common stock, with disclosures noting record dates, payment dates, and the relationship between the dividend and the prevailing share price. In addition, Old Point announced changes in key leadership roles, such as the appointment of a new Chief Financial Officer, and described the professional background and experience of those executives.
Beginning in 2025, a significant portion of Old Point’s news centered on its merger with TowneBank. Press releases and Form 8-K filings covered the signing of the merger agreement, shareholder approval at a special meeting, regulatory approvals, supplemental proxy disclosures, and the expected and actual closing of the transaction. Subsequent filings detailed the merger consideration mix, election procedures for shareholders, and the resulting delisting of OPOF from Nasdaq.
This news page serves as an archive of those historical announcements, allowing readers to review Old Point’s earnings history, dividend practices, corporate actions, and the sequence of events that culminated in its merger with TowneBank and the end of OPOF as an independently traded stock.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Old Point Financial Corporation (OPOF) has declared a quarterly cash dividend of $0.14 per share, marking a 7.7% increase from the previous quarter and $0.01 more than the prior year's dividend. The dividend will be paid on March 31, 2023, to shareholders on record as of March 8, 2023. Based on the closing stock price of $25.95 on February 21, 2023, this results in a dividend yield of approximately 2.2%.
Old Point Financial Corporation (OPOF) announced the retirement of Russell Smith Evans, Jr. from its Board of Directors at the conclusion of the 2023 Annual Meeting of Shareholders, having served since 1993. Mr. Evans expressed gratitude for his tenure, highlighting the recent board refreshment as an opportunity for new perspectives with the additions of Sarah and Elizabeth, which he believes strengthen the board. Chairman Robert Shuford commended Evans for his contributions over the years. This change follows a trend of board evolution aimed at enhancing governance and strategic direction.
Old Point Financial Corporation (NASDAQ: OPOF) reported a net income of $2.6 million and earnings per diluted common share of $0.53 for Q4 2022, up from $1.7 million and $0.32 per share in Q4 2021. For the full year, net income was $9.1 million, a rise from $8.4 million in 2021.
Significant highlights include a 24.5% growth in loans held for investment, reaching $1.0 billion, and an improved net interest margin (NIM) of 4.14%, up from 3.07% YoY. Total assets climbed to $1.4 billion, while total deposits decreased by 1.8%. Despite a drop in stockholders' equity by 18.3%, the company remains well-capitalized with a Tier 1 Capital ratio of 11.71%.
Old Point Financial Corporation has declared a quarterly cash dividend of $0.13 per share on its common stock. This dividend is set to be paid on December 30, 2022, to shareholders recorded as of December 7, 2022. The announced dividend maintains the same amount as the previous quarter, yielding approximately 2.2% based on the stock's closing price of $23.78 on November 16, 2022.
FAQ
What is the current stock price of Old Point Finl (OPOF)?
What is the market cap of Old Point Finl (OPOF)?
