OLD Point Financial CORP: directors' dealings · United States · SEC (Form 4)

About OLD Point Financial CORP

Old Point Financial Corp. (ticker: OPOF) was a U.S.-listed regional financial holding company traded on the NASDAQ market in the United States before its merger into TowneBank. The company was historically headquartered in Hampton, Virginia, in the Hampton Roads area, where community and relationship banking have long remained strategically relevant. Old Point traces its origins to 1923, giving it a long operating history as a locally rooted banking franchise built around customer proximity, community ties, and a traditional branch-based service model. From an operating perspective, Old Point Financial served as the holding company for The Old Point National Bank of Phoebus, along with trust and wealth-related activities. Its core business mix included consumer banking, commercial banking, mortgage lending, deposit gathering, and trust/wealth management services. This is a classic profile for a U.S. community bank: it relies on a stable deposit base, lends primarily within its local footprint, and supplements spread income with fee-generating services such as fiduciary and advisory solutions. Competitively, Old Point was not a national-scale institution but a niche regional player. Its market position depended less on size and more on local brand recognition, long-standing customer relationships, and deep familiarity with the Hampton Roads and Richmond markets in Virginia. That localized positioning gave the company an advantage in serving households, small businesses, and community-oriented clients who often value service continuity and decision-making close to the market. Old Point’s branch network reinforced that relationship-led model and supported its franchise value in a highly competitive U.S. banking landscape. Recent corporate developments are dominated by the transaction with TowneBank. In April 2025, Old Point entered into a merger agreement with TowneBank. Shareholders approved the deal in July 2025, and all required regulatory approvals were received in August 2025. The company announced that closing was expected around September 1, 2025, and its corporate website subsequently stated that Old Point became a division of TowneBank in September 2025. The bank’s transition materials later indicated that Old Point locations would officially open as TowneBank on February 9, 2026, reflecting the final operational integration phase. For investors, this means OPOF should be viewed primarily through the lens of bank-sector consolidation and merger completion rather than as a standalone ongoing public equity story.