Old Point Financial Corp.

Old Point Financial Corp.

Old Point Financial Corp.

Overview
Date Founded

1984

Headquarters

101 East Queen Street, Hampton, VA, 23669, USA

Type of Company

Public

Employees (Worldwide)

297

Industries

Retail & Commercial Banking
Holding Companies

Company Description

Old Point Financial Corp. operates as a bank holding company, which engages in the provision of banking services through its subsidiaries. It also involves in service bank, which offers financial services, from free checking and commercial services to home equity products. The company was founded on February 16, 1984 and is headquartered in Hampton, VA.

Contact Data
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Executives & Employees

Director & Secretary, President & Chief Executive Officer of the Bank

President & Chief Executive Officer

Senior Vice President & Chief Financial Officer

Senior Vice President & Chief Lending Officer

Senior Vice President, Chief Administrative Officer

Senior Executive Vice President, Chief Business Development Officer, Old Point National Bank

Chief Operating Officer & Executive Vice President

Head-Investor Relations

Vice President/Marketing Director

Board of Directors

President & Chief Executive Officer at Old Point Financial Corp.

Chief Administrative Officer & Senior Executive Vice President at Old Point Mortgage LLC

Independent Director at Old Point Financial Corp.

Former Director at Sentara Healthcare

Group Vice President & Chief Financial Officer at Pomoco LLC

President at Virginia Air & Space Center

President at Hampton Stationery Furniture & Office Supply LLC

Director-Investor Relations at Quadra Realty Trust, Inc.

Managing Director at McRae Capital Management, Inc.

Former General Manager at BFI Waste Services LLC

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Old Point Financial Corp.
Owners & Shareholders
Details Hidden

FJ Capital Management manages a long/short equity hedge fund that employs a fundamental investment approach and focuses on investments in underfollowed financial institutions and small- and mid-cap banks and thrifts.

Details Hidden

PL Capital Advisors specializes in investments in the US financial sector. The firm manages financial sector partnerships that focus on identifying and acquiring stakes in undervalued banks and thrifts and participating in the long term consolidation of the banking industry. They invest in publicly-traded banks and thrifts with $300 million to $10 billion in assets and which operate in attractive, undervalued market areas. PL Capital is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

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Old Point Trust & Financial Services gives consideration to the diversification among bonds and stocks as well as industry groupings within equity portions. With regard to fixed-income assets, quality standards and maturity patterns are developed. For municipal and corporate bonds, each must be rated 'A' or better. The maturity pattern is staggered so that the bonds do not all mature during the same period.

Recent Transactions
Details Hidden

Old Point Financial Corp. purchases CNB Bancorp, Inc. (Windsor, Virginia)

Details Hidden

Old Point Financial Corp. purchases Old Point Mortgage LLC from Tidewater Mortgage Services, Inc.

Transaction Advisors
Investment Advisor

Advised onOld Point Financial Corp. purchases CNB Bancorp, Inc. (Windsor, Virginia)

Legal Advisor

Advised onOld Point Financial Corp. purchases CNB Bancorp, Inc. (Windsor, Virginia)

Legal Advisor

Advised onOld Point Financial Corp. purchases CNB Bancorp, Inc. (Windsor, Virginia)

Key Stats and Financials As of 2019
Market Capitalization
$82.4M
Total Enterprise Value
$156M
Earnings Per Share
$1.51
Revenue
$54.3M
Net Profit
$7.86M
Total Debt
$50.4M
Total Equity
$110M
Enterprise Value Sales
2.87x
TEVNet Income
19.85x
Debt TEV
0.32x
Three Year Compounded Annual Growth Rate Of Revenue
7.99%
Five Year Compounded Annual Growth Rate Of Revenue
4.73%
Suppliers
Morgan-Marrow Co. Insurance Brokerage | Hampton, VA

Morgan-Marrow Co. provides insurance services. It offers home and auto insurance, flood insurance, farm insurance, life insurance and health insurance services. The company was founded in 1904 and is headquartered in Hampton, VA.

Competitors
Bank of America Corp. Retail & Commercial Banking - Charlotte, NC

Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses. The Global Wealth and Investment Management provides client experience through a network of financial advisors focused on to meet their needs through a full set of investment management, brokerage, banking, and retirement products. The Global Banking segment deals with lending-related products and services, integrated working capital management and treasury solutions to clients, and underwriting and advisory services. The Global Markets segment includes sales and trading services, as well as research, to institutional clients across fixed-income, credit, currency, commodity, and equity businesses. The All Other segment consists of asset and liability management activities, equity investments, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model for both core and non-core MSRs, other liquidating businesses, residual expense allocations and other. The company was founded by Amadeo Peter Giannini in 1904 is headquartered in Charlotte, NC.

Wells Fargo & Co. Retail & Commercial Banking - Minneapolis, MN

Wells Fargo & Co. is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other. The Community Banking segment offers complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and automobile, student, and small business lending. The Wholesale Banking segment provides financial solutions to businesses across the United States and globally. The Wealth and Investment Management segment includes personalized wealth management, investment and retirement products and services to clients across U.S. based businesses. The Other segment refers to the products of WIM customers served through community banking distribution channels. The company was founded by Henry Wells and William G. Fargo on March 18, 1852 and is headquartered in San Francisco, CA.

The PNC Financial Services Group, Inc. Retail & Commercial Banking - Pittsburgh, Pennsylvania

PNC Financial Services Group, Inc. is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers. The Corporate & Institutional segment covers the lending, treasury management, and capital markets-related products and services to mid-sized and large corporations, government, and not-for-profit entities. The Asset Management Group segment includes personal wealth management for high net worth and ultra high net worth clients and institutional asset management. The BlackRock segment operates as a publicly-traded investment management firm providing a range of investment, risk management and technology services to institutional and retail clients. The company was founded in 1983 and is headquartered in Pittsburgh, PA.

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