TowneBank and Old Point Financial Corporation Announce Agreement to Merge
Towne Bank (TOWN)
Last towne bank earnings: 4/27 08:30 am
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Source: GlobeNewswire
SUFFOLK, Va. and HAMPTON, Va., April 03, 2025 (GLOBE NEWSWIRE) -- Hampton Roads based TowneBank (NASDAQ: TOWN) and Old Point Financial Corporation (NASDAQCM: OPOF) (“Old Point”), the parent company of The Old Point National Bank of Phoebus (“OPNB”), today announced the signing of a definitive agreement and plan of merger pursuant to which TowneBank will acquire Old Point and OPNB. The proposed transaction will enhance TowneBank’s position in the Hampton Roads MSA with the addition of a high-quality core deposit franchise. Pro forma for TowneBank’s recently closed acquisition of Village Bank and Trust Financial Corp. and the proposed acquisition of Old Point, the combined company would have total assets of $19.5 billion,
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News
- April 2025's Stocks That May Be Priced Below Their Estimated Value [Yahoo! Finance]Yahoo! Finance
- Three Stocks That May Be Trading Below Their Estimated Value In April 2025 [Yahoo! Finance]Yahoo! Finance
- TowneBank seals deal to acquire Virginia's Old Point for $203m [Yahoo! Finance]Yahoo! Finance
- TowneBank (NASDAQ: TOWN) was upgraded by analysts at Hovde Group from a "market perform" rating to an "outperform" rating. They now have a $38.00 price target on the stock, down previously from $39.00.MarketBeat
- TowneBank plans to acquire, merge with Old Point in $203 million deal [Yahoo! Finance]Yahoo! Finance