TowneBank, Old Point Financial sign definitive merger agreement
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 03 2025
0mins
Merger Announcement: TowneBank has signed a definitive agreement to acquire Old Point Financial, enhancing its position in the Hampton Roads MSA with a projected combined total of $19.5B in assets and $203M transaction value.
Shareholder Options and Timeline: Old Point shareholders can choose between cash or stock for their shares, and the merger is expected to close in the second half of 2025, pending regulatory and shareholder approvals.
Analyst Views on TOWN
Wall Street analysts forecast TOWN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for TOWN is 40.00 USD with a low forecast of 38.00 USD and a high forecast of 42.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 35.310
Low
38.00
Averages
40.00
High
42.00
Current: 35.310
Low
38.00
Averages
40.00
High
42.00
About TOWN
TowneBank offers a full range of banking and other financial services through its controlled divisions and subsidiaries. The Company's financial services include banking, resort property management, mortgage, insurance, employee benefit services, and investments. Its segments include Banking, Realty, and Insurance. The banking segment provides loan and deposit services to retail and commercial customers and also provides a variety of investment and asset management services. The Realty segment offers mortgage loans and resort property management. The Insurance segment provides a full line of commercial and consumer insurance products and financial services, as well as employee benefit services. Its business banking services include business lending, business checking and online banking and treasury services. The Company operates over 50 banking offices throughout Hampton Roads and Central Virginia, as well as Northeastern and Central North Carolina.
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.
