TowneBank /
Old Point Financial Corporation
TowneBank completes mergers with Old Point Financial Corporation
Source for the buyer and target: OLD POINT FINANCIAL CORP
For the buyer and target.
“On September 1, 2025, Old Point Financial Corporation, a Virginia corporation (“Old Point”) and The Old Point National Bank of Phoebus, a nationally chartered banking association and wholly owned subsidiary of Old Point (“Old Point National Bank”) completed their previously announced mergers with TowneBank, a Virginia banking corporation (“TowneBank”).”
Published 2 Sep 2025
Open the sourceWhat happened
TowneBank completed its mergers with Old Point Financial Corporation and The Old Point National Bank of Phoebus on September 1, 2025. TowneBank survived the merger. [01]
Old Point shareholders could elect $41.00 per share in cash or 1.14 shares of TowneBank common stock, subject to allocation and proration procedures. [01]
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TowneBank completes mergers with Old Point Financial Corporation
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“TowneBank completes mergers with Old Point Financial Corporation TowneBank completed its mergers with Old Point Financial Corporation and The Old Point National Bank of Phoebus on September 1, 2025”
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