TowneBank and Old Point Financial Corporation Announce Expected Closing Date and Election Deadline for Merger
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 14 2025
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Source: Newsfilter
Merger Announcement: TowneBank and Old Point Financial Corporation have received regulatory approval for their merger, expected to close around September 1, 2025. Shareholders of Old Point must elect their preferred form of consideration by August 26, 2025.
Election Details: Old Point shareholders can choose between cash, shares of TowneBank stock, or a combination for their shares. Those who do not make an election will have no control over the type of consideration they receive, which may vary based on other shareholders' elections.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
