TowneBank announced the completion of its merger with Old Point Financial Corporation on September 1, 2025. This finalizes the $203 million deal, integrating Old Point Financial into TowneBank's operations.
As a result of the merger, The Old Point National Bank of Phoebus, Old Point's banking subsidiary, will now operate as a division of TowneBank. This strategic combination enhances TowneBank's position within the Hampton Roads metropolitan statistical area.
The completion of this merger follows the receipt of all necessary shareholder and regulatory approvals. This transaction is expected to create a stronger, more competitive regional bank with an expanded market presence.
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