Old Point Financial Corporation reported net income of $1.2 million for the second quarter of 2025, resulting in diluted earnings per common share of $0.24. This represents a 52% decrease compared to net income of $2.5 million, or $0.50 per diluted share, in the second quarter of 2024.
Adjusted operating earnings for the quarter were $2.2 million, or $0.43 per diluted share, down from $2.5 million, or $0.50 per share, in Q2 2024. The decline in profitability was primarily driven by a $1.0 million year-over-year increase in noninterest expense, largely attributable to merger-related costs and higher salaries and employee benefits.
Despite the decrease in net income, the net interest margin improved to 3.70% in Q2 2025 from 3.62% in the prior year quarter, reflecting effective deposit mix management. Non-performing assets decreased to $3.3 million, or 0.24% of total assets, from $4.1 million in the first quarter of 2025, indicating an improvement in asset quality metrics.
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