Old Point Financial Announces Merger with TowneBank

An announcement from Old Point Financial ( (OPOF) ) is now available.

On April 2, 2025, Old Point Financial Corporation and its subsidiary entered into a merger agreement with TowneBank, which will result in Old Point merging into TowneBank, with the latter continuing as the surviving corporation. The merger, approved by the boards of both companies, offers Old Point shareholders a choice between cash or stock consideration. Additionally, Old Point Bank amended severance agreements with key executives to ensure continuity post-merger. The merger aims to strengthen TowneBank’s market position, with Old Point’s directors invited to join TowneBank’s advisory board, subject to non-compete agreements.

Spark’s Take on OPOF Stock

According to Spark, TipRanks’ AI Analyst, OPOF is a Outperform.

Old Point Financial exhibits solid financial performance with consistent revenue growth and a stable capital structure, although there are areas for improvement in cash flow management. The technical indicators are favorable, showing strong momentum. Valuation is reasonable, suggesting the stock is fairly priced. Overall, the bank presents a stable investment opportunity with moderate growth potential.

To see Spark’s full report on OPOF stock, click here.

More about Old Point Financial

Old Point Financial Corporation is a Virginia-based corporation with a wholly owned subsidiary, The Old Point National Bank of Phoebus. The company operates in the banking industry, providing financial services and products.

YTD Price Performance: 40.56%

Average Trading Volume: 15,333

Technical Sentiment Signal: Strong Sell

Current Market Cap: $186.1M

For a thorough assessment of OPOF stock, go to TipRanks’ Stock Analysis page.