TowneBank Closes Acquisition of Old Point Financial-March 2024-www.financetom.com

TowneBank Closes Acquisition of Old Point Financial

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TowneBank Closes Acquisition of Old Point Financial

Sep 2, 2025 3:15 PM

05:39 PM EDT, 09/02/2025 (MT Newswires) -- TowneBank ( TOWN ) completed its acquisition of Old Point Financial ( OPOF ) .

Former Old Point Chief Executive Officer Robert Shuford Jr. was appointed senior executive vice president and will serve as chairman of the TowneBank Peninsula board, effective Jan. 1.

Old Point National Bank locations will operate as "Old Point National Bank, a division of TowneBank ( TOWN )" until February, when core systems and operations are scheduled to be fully integrated, TowneBank ( TOWN ) said Tuesday in a statement.

In April, TowneBank ( TOWN ) agreed to acquire Old Point for $203 million.

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