Old Point Finl Stock Price, News & Analysis

Old Point Financial Corporation (historically traded on the Nasdaq Capital Market under the symbol OPOF) was a financial holding company in the commercial banking industry within the finance and insurance sector. According to company disclosures, it was headquartered in Hampton, Virginia and operated as the parent company of The Old Point National Bank of Phoebus and Old Point Trust & Financial Services, N.A., also referred to as Old Point Wealth Management or "Wealth." Through these subsidiaries, Old Point served individual and commercial customers in the Hampton Roads and Richmond regions of Virginia.

As described in Old Point’s public communications, Old Point National Bank functioned as a locally owned and managed community bank. It offered a full range of retail and commercial financial services, including checking accounts, insurance offerings, mortgage loan products through Old Point Mortgage, and commercial lending and banking products and services. Wealth provided services for individuals and businesses that included retirement planning, estate planning, financial planning, estate and trust administration, retirement plan administration, tax services, and investment management services.

Corporate structure and business focus

Old Point Financial Corporation’s structure centered on banking and wealth management activities delivered through its subsidiaries. Old Point National Bank maintained branch offices in the Hampton Roads region of Virginia and provided consumer and commercial banking services. Old Point’s own descriptions emphasize that the bank served both individual and commercial customers and that it offered mortgage loan products via Old Point Mortgage, as well as insurance products through Old Point Insurance, LLC.

Old Point Trust & Financial Services, N.A. (Wealth) focused on fiduciary and asset management roles. Company materials state that Wealth offered retirement and estate planning, trust and estate administration, retirement plan administration, tax services, and investment management. These activities positioned Wealth as a provider of wealth management and trust services to individuals and businesses, particularly within the regions where Old Point operated.

Merger with TowneBank and change in status

Old Point’s independent public company status ended following a merger with TowneBank. According to Old Point’s Form 8-K filed on September 2, 2025, on September 1, 2025 Old Point Financial Corporation merged with and into TowneBank, and immediately thereafter The Old Point National Bank of Phoebus also merged with and into TowneBank, with TowneBank surviving the transaction. The filing explains that each share of Old Point common stock issued and outstanding immediately prior to the effective time of the merger (other than certain excluded shares) was converted into the right to receive either a cash amount per share or a specified number of TowneBank common shares, subject to allocation and proration procedures described in the Agreement and Plan of Merger.

The same Form 8-K notes that, as a result of the merger, Old Point no longer met the listing requirements of the Nasdaq Capital Market. Old Point requested that Nasdaq suspend trading in its common stock before the opening of trading on September 2, 2025, withdraw the stock from listing on Nasdaq, and file a Form 25 to effect the delisting. A separate Form 25-NSE filed on September 2, 2025 confirms removal of Old Point Financial Corporation’s common stock from listing and registration on the Nasdaq Stock Market LLC under Section 12(b) of the Securities Exchange Act of 1934.

The September 2, 2025 Form 8-K further states that TowneBank, as successor to Old Point, intends to file certifications on Form 15 to deregister Old Point common stock under Section 12(g) of the Exchange Act and to suspend Old Point’s reporting obligations under Sections 13 and 15(d). The filing notes that Old Point ceased to exist as a separate legal entity at the effective time of the merger, and that TowneBank’s Articles of Incorporation and Bylaws remained in effect as those of the surviving entity.

Historical operating profile

Prior to the merger, Old Point’s periodic earnings releases and related Form 8-K filings described a balance sheet and income profile consistent with a community banking organization. These disclosures referenced total assets in the billions of dollars, loan portfolios that included commercial and consumer categories, deposit bases that included noninterest-bearing, savings, and time deposits, and capital ratios that management described as keeping the bank well capitalized. The company also reported noninterest income from sources such as fiduciary and asset management fees and service charges, and noninterest expenses that included salaries and employee benefits, occupancy and equipment, and other operating costs.

Old Point’s public statements highlighted priorities such as asset quality, liquidity, capital, and expense discipline. In several earnings releases, management discussed non-performing assets, allowance for credit losses, and liquidity measures, as well as cost-saving initiatives that included reductions in headcount and other operating expenses. These details provide context for how Old Point managed its banking and wealth management operations prior to its combination with TowneBank.

Investor and shareholder considerations

For former shareholders, Old Point’s merger-related filings and press releases explain the consideration structure and election mechanics. In the September 2, 2025 Form 8-K, Old Point reports that holders of Old Point common stock and restricted stock awards could elect to receive either cash consideration or TowneBank stock consideration, subject to proration designed to achieve an overall mix of 40% cash and 60% stock for the total shares outstanding immediately prior to the effective time. The filing details the proportions of shares that elected cash, elected stock, or did not make a timely election, and how those elections were adjusted to meet the targeted overall mix.

Earlier Form 8-K filings in 2025 describe the shareholder approval process and regulatory milestones. A July 2, 2025 Form 8-K reports that Old Point shareholders approved the merger agreement and related proposals at a special meeting, and a later Form 8-K dated August 15, 2025 notes that all required regulatory approvals for the merger had been received, with an expected closing on or about September 1, 2025. Another Form 8-K filed on June 23, 2025 discusses shareholder litigation and demand letters related to merger disclosures and notes that Old Point and TowneBank provided supplemental proxy statement disclosures while denying any wrongdoing.

Position within the regional banking landscape

Old Point’s own descriptions characterize it as a locally owned and managed community banking organization serving the Hampton Roads and Richmond regions of Virginia. Its combination of consumer banking, commercial banking, mortgage products, insurance offerings through Old Point Insurance, and wealth management services through Wealth reflected a regional financial services platform built around those markets. Following the merger, these operations became part of TowneBank, a larger banking organization that also operates in Hampton Roads and other areas, as described in joint press releases referenced in Old Point’s filings.

Legacy and historical relevance of OPOF

With the completion of the merger and the subsequent delisting and planned deregistration, the OPOF ticker now represents the historical record of Old Point Financial Corporation as a standalone public company rather than an actively traded security. Historical SEC filings, earnings releases, and merger-related documents provide detailed insight into Old Point’s financial condition, strategic decisions, and the terms under which it combined with TowneBank. For researchers and investors reviewing the OPOF symbol, these records document the company’s role as a community-focused financial institution and the corporate actions that concluded its independent public listing.