Old Point Financial Corporation announced on July 2, 2025, that its shareholders approved the merger of the company and Old Point National Bank with and into TowneBank. This shareholder vote marks a crucial step forward in the proposed strategic combination.
The approval signifies that Old Point's shareholders recognize the compelling value offered by this strategic partnership. The merger is designed to enhance growth opportunities and shareholder value by combining the strengths of both institutions.
Completion of the transaction remains subject to customary closing conditions, including the receipt of all required regulatory approvals. The merger is expected to be completed in the second half of 2025, following these remaining conditions.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.