Old Point Financial Corporation (OPOF): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Old Point Financial Corporation (OPOF) surge como una potencia bancaria regional dinámica, posicionándose estratégicamente dentro del panorama financiero competitivo del sureste de Virginia. Al elaborar meticulosamente un modelo de negocio que entrea en servicio personalizado, innovación tecnológica y profundas raíces comunitarias, esta institución financiera ha desarrollado un enfoque integral que va más allá de los paradigmas bancarios tradicionales. Su estrategia única combina la comprensión del mercado local con soluciones financieras sofisticadas, creando una propuesta de valor convincente que resuena con diversos segmentos de clientes, desde pequeñas empresas hasta personas de alto valor de la red.

Old Point Financial Corporation (OPOF) - Modelo de negocios: asociaciones clave

Asociaciones comerciales locales en Virginia

Old Point Financial Corporation mantiene asociaciones estratégicas con:

Nombre de la asociación	Enfoque de asociación	Ubicación
Cámara de Comercio de Hampton Roads	Redes comerciales	Virginia
Asociación de Banqueros de Virginia	Cumplimiento regulatorio	Richmond, VA

Socios de red bancaria regional

Las colaboraciones clave de la banca regional incluyen:

• Atlantic Union Bank
• Townebank
• Bay Banks de Virginia

Proveedores de servicios de seguros e inversiones

Proveedor	Tipo de servicio	Detalles de la asociación
Seguro nacional	Productos de seguro	Asociación de referencia
Raymond James Financial	Servicios de inversión	Colaboración de gestión de patrimonio

Organizaciones de desarrollo comunitario

• Peninsula Community Foundation
• Alianza de desarrollo económico de Hampton Roads
• Centros locales de desarrollo de pequeñas empresas

Tecnología y proveedores de banca digital

Proveedor	Solución tecnológica	Año de implementación
Fiserv	Plataforma bancaria central	2022
Jack Henry & Asociado	Software de banca digital	2023

Old Point Financial Corporation (OPOF) - Modelo de negocio: actividades clave

Servicios bancarios comerciales y personales

A partir de 2024, Old Point Financial Corporation proporciona a los servicios bancarios activos totales de $ 1.68 mil millones. El banco opera 19 sucursales de servicio completo en Virginia.

Categoría de servicio bancario	Cuentas totales	Saldo promedio
Cuentas corrientes	42,500	$8,750
Cuentas de ahorro	28,300	$15,600
Cuentas comerciales	6,200	$87,500

Préstamo y origen hipotecario

En 2023, la corporación originó $ 275 millones en préstamos hipotecarios con un tamaño de préstamo promedio de $ 342,000.

• Cartera de hipotecas residenciales: $ 425 millones
• Préstamos inmobiliarios comerciales: $ 312 millones
• Tasa de interés de hipoteca promedio: 6.75%

Inversión y gestión de patrimonio

Old Point Financial administra aproximadamente $ 480 millones en activos de gestión de patrimonio.

Servicio de inversión	Activos totales bajo administración	Cartera promedio de clientes
Gestión de patrimonio personal	$ 285 millones	$620,000
Planificación de jubilación	$ 145 millones	$415,000
Inversiones institucionales	$ 50 millones	$ 2.3 millones

Desarrollo de la plataforma de banca digital

El banco admite 62,000 usuarios activos de banca digital con una plataforma de banca móvil lanzada en 2023.

• Descargas de aplicaciones de banca móvil: 28,500
• Volumen de transacciones en línea: 1.2 millones mensuales
• Inversión bancaria digital: $ 3.6 millones en 2023

Gestión de riesgos y monitoreo de cumplimiento

El presupuesto de cumplimiento para 2024 es de $ 4.2 millones con un equipo dedicado de 22 profesionales de gestión de riesgos.

Área de cumplimiento	Presupuesto anual	Asignación de personal
Cumplimiento regulatorio	$ 1.8 millones	12 profesionales
Ciberseguridad	$ 1.4 millones	6 profesionales
Prevención de fraude	$ 1 millón	4 profesionales

Old Point Financial Corporation (OPOF) - Modelo de negocio: recursos clave

Red de sucursales

A partir de 2024, Old Point Financial Corporation mantiene 14 ubicaciones bancarias de servicio completo en el sureste de Virginia, específicamente concentrado en:

• Hampton
• Newport News
• Williamsburg
• Norfolk
• Suffolk

Composición de la fuerza laboral financiera

Categoría de empleado	Número total
Total de empleados	224
Profesionales a tiempo completo	198
Personal a tiempo parcial	26
Titulares de grado avanzado	47

Infraestructura bancaria digital

Métricas bancarias digitales:

• Usuarios de banca móvil: 38,642
• Plataformas de banca en línea: 2 sistemas integrados
• Volumen de transacción digital: 672,435 transacciones mensuales

Sistemas de tecnología financiera

Sistema tecnológico	Año de implementación	Inversión anual
Plataforma bancaria central	2021	$ 1.2 millones
Infraestructura de ciberseguridad	2022	$875,000

Indicadores de reputación del mercado

Métricas de reputación:

• Calificación de satisfacción del cliente: 4.6/5
• Cuota de mercado local: 7.3%
• Años en operación: 132

Old Point Financial Corporation (OPOF) - Modelo de negocio: propuestas de valor

Soluciones financieras personalizadas para comunidades locales

A partir del cuarto trimestre de 2023, Old Point Financial Corporation ofrece servicios bancarios especializados en el sureste de Virginia. Penetración total del mercado local: 37.4% en la región de Hampton Roads.

Categoría de servicio	Cuota de mercado local	Segmentos de clientes
Banca personal	42.6%	Individuos, familias
Banca de pequeñas empresas	28.3%	Empresarios locales
Banca comercial	22.1%	Empresas regionales

Tasas de interés competitivas y productos bancarios

Tasas de interés promedio a partir de enero de 2024:

• Cuenta de ahorro: 3.75%
• Cuenta corriente: 0.50%
• CD de 12 meses: 4.25%
• Préstamos de capital para el hogar: 7.35%

Servicios integrales de gestión de patrimonio

Activos totales bajo administración (AUM): $ 687.3 millones al 31 de diciembre de 2023.

Servicio de gestión de patrimonio	Total de clientes	Valor de cuenta promedio
Planificación de jubilación	4,215	$426,000
Aviso de inversión	3,687	$512,000
Planificación patrimonial	2,943	$765,000

Convenientes experiencias bancarias digitales y en persona

Métricas de banca digital para 2023:

• Usuarios de banca móvil: 62,500
• Volumen de transacciones en línea: 3.2 millones
• Tasa de satisfacción bancaria digital: 94.3%

Fuerte compromiso con el desarrollo económico local

Impacto económico local en 2023:

Categoría de inversión	Cantidad total	Empresas locales apoyadas
Préstamos para pequeñas empresas	$ 124.6 millones	387 negocios
Desarrollo comunitario	$ 3.2 millones	42 proyectos locales
Contribuciones caritativas	$ 1.7 millones	89 organizaciones locales

Old Point Financial Corporation (OPOF) - Modelo de negocios: relaciones con los clientes

Enfoque de servicio al cliente personalizado

Old Point Financial Corporation mantiene un modelo de servicio centrado en el cliente con 7 ubicaciones de ramas En Virginia, centrándose en experiencias bancarias personalizadas.

Métrica de servicio al cliente	Datos de rendimiento
Tiempo promedio de interacción con el cliente	18.5 minutos por sesión
Tasa de satisfacción del cliente	4.3/5 estrellas
Tasa anual de retención de clientes	87.6%

Modelo de banca de relación

La corporación enfatiza las relaciones con los clientes a largo plazo a través de soluciones financieras específicas.

• Representantes de banca personal dedicados
• Recomendaciones de productos financieros personalizados
• Estructuras de precios basadas en relaciones

Soporte de banca digital y móvil

Las plataformas de banca digital brindan servicios completos en línea con $ 342 millones en volumen de transacciones digitales en 2023.

Función de banca digital	Estadísticas de compromiso
Usuarios de banca móvil	42,500 usuarios activos
Transacciones de pago de facturas en línea	276,000 transacciones anuales

Consultas de asesoramiento financiero regular

Ofreciendo una planificación financiera integral con 12 asesores financieros certificados En todos los lugares de servicio.

• Sesiones trimestrales de revisión de inversiones
• Consultas de planificación de jubilación
• Reuniones de estrategia de gestión de patrimonio

Compromiso comunitario y redes locales

Mantener una fuerte presencia local con $ 1.2 millones en inversión comunitaria durante 2023.

Actividad de participación comunitaria	Participación anual
Patrocinios comerciales locales	23 eventos
Talleres de educación financiera	48 talleres
Contribuciones caritativas comunitarias	$475,000

Old Point Financial Corporation (OPOF) - Modelo de negocios: canales

Ubicaciones de ramas físicas

A partir de 2024, Old Point Financial Corporation mantiene 16 ubicaciones de sucursales físicas en Virginia, específicamente concentradas en las regiones de Hampton Roads and Peninsula.

Tipo de ubicación	Número de ramas	Estados cubiertos
Ramas de servicio completo	16	Virginia
Ubicaciones de entrada	9	Virginia

Plataforma bancaria en línea

La plataforma de banca en línea atiende a aproximadamente 22,500 usuarios de banca digital activo a partir del cuarto trimestre de 2023.

• Plataforma basada en la web disponible 24/7
• Conexión segura con conexión cifrada
• Características de gestión de cuentas

Aplicación de banca móvil

La aplicación de banca móvil de Old Point Financial admite más de 15,000 usuarios activos mensuales con capacidades de transacción en tiempo real.

Característica de la aplicación	Disponibilidad
Depósito de cheque móvil	Sí
Pago de facturas	Sí
Transferencias de fondos	Sí

Servicios de banca telefónica

La banca telefónica atiende a aproximadamente 5.700 clientes mensualmente a través de líneas de atención al cliente dedicadas.

• Información automatizada de la cuenta automática 24/7
• Representantes de servicio al cliente disponibles durante el horario comercial
• Opciones de soporte multilingües

Red de cajeros automáticos

Old Point Financial Corporation opera 22 cajeros automáticos patentados en su región de servicio.

Tipo de cajero automático	Número de máquinas	Capacidad de transacción
Cajeros automáticos en el sitio	16	Transacción completa
Cajeros automáticos fuera del sitio	6	Transacción limitada

Old Point Financial Corporation (OPOF) - Modelo de negocio: segmentos de clientes

Empresas pequeñas a medianas

A partir de 2024, Old Point Financial Corporation atiende aproximadamente 1,200 empresas pequeñas a medianas en la región costera de Virginia. Los préstamos comerciales totales a este segmento alcanzaron los $ 214.3 millones en el año fiscal más reciente.

Métricas de segmento de negocios	2024 datos
Número total de clientes de PYME	1,200
Volumen de préstamos comerciales	$ 214.3 millones
Tamaño promedio del préstamo	$178,583

Consumidores individuales locales

El banco atiende a 42,500 cuentas de consumidores individuales en Virginia, con una base de depósito total de $ 687.2 millones en productos bancarios personales.

• Cuentas corrientes personales: 24,300
• Cuentas de ahorro personal: 18,200
• Saldo promedio de depósito del consumidor: $ 16,200

Individuos de alto nivel de red

Old Point Financial se dirige a 850 personas de alto patrimonio con activos totales bajo una administración de $ 312.6 millones.

Segmento de alto nivel de red	2024 métricas
Total de clientes	850
Activos bajo administración	$ 312.6 millones
Cartera promedio de clientes	$367,765

Inversores inmobiliarios comerciales

El banco mantiene una cartera de 225 clientes de inversión inmobiliaria comerciales con préstamos inmobiliarios totales de $ 456.7 millones.

• Total de clientes inmobiliarios comerciales: 225
• Préstamo inmobiliario total: $ 456.7 millones
• Préstamo promedio de inversión inmobiliaria: $ 2.03 millones

Organizaciones sin fines de lucro en Virginia

Old Point Financial atiende a 95 organizaciones sin fines de lucro con servicios bancarios especializados, manteniendo $ 48.3 millones en depósitos y préstamos sin fines de lucro.

Segmento sin fines de lucro	2024 datos
Clientes sin fines de lucro totales	95
Depósitos totales sin fines de lucro	$ 48.3 millones
Depósito sin fines de lucro promedio	$508,421

Old Point Financial Corporation (OPOF) - Modelo de negocio: Estructura de costos

Compensación y beneficios de los empleados

Para el año fiscal 2023, Old Point Financial Corporation reportó gastos de personal totales de $ 18,642,000. El desglose de los costos relacionados con los empleados incluye:

Categoría de gastos	Monto ($)
Salarios base	12,345,000
Seguro médico	2,456,000
Beneficios de jubilación	1,987,000
Bonos de rendimiento	1,854,000

Gastos operativos de rama

La corporación mantuvo 15 ubicaciones de sucursales físicas con la siguiente estructura de costos operativos:

• Gastos de alquiler y arrendamiento: $ 1,345,000
• Utilidades: $ 456,000
• Mantenimiento y reparaciones: $ 287,000
• Suministros de oficina: $ 124,000

Mantenimiento de tecnología e infraestructura

Los gastos anuales relacionados con la tecnología totalizaron $ 3,456,000, que incluyen:

Categoría de costos tecnológicos	Monto ($)
Infraestructura	1,654,000
Licencia de software	872,000
Ciberseguridad	530,000
Reemplazo de hardware	400,000

Costos de cumplimiento regulatorio

Los gastos relacionados con el cumplimiento para 2023 fueron de $ 2,345,000, que abarca:

• Servicios de asesoramiento legal: $ 876,000
• Auditoría e informes: $ 654,000
• Tarifas de presentación regulatoria: $ 415,000
• Capacitación de cumplimiento: $ 400,000

Gastos de marketing y adquisición de clientes

Los gastos de marketing para el año fiscal ascendieron a $ 1,234,000, distribuidos en varios canales:

Canal de marketing	Monto ($)
Publicidad digital	456,000
Impresión y medios tradicionales	287,000
Patrocinios comunitarios	198,000
Programas de adquisición de clientes	293,000

Old Point Financial Corporation (OPOF) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos

Para el año fiscal 2023, Old Point Financial Corporation reportó ingresos por intereses netos de $ 34.8 millones, con préstamos totales en circulación de aproximadamente $ 1.14 mil millones.

Categoría de préstamo	Saldo total del préstamo	Ingresos por intereses
Inmobiliario comercial	$ 456.2 millones	$ 14.3 millones
Hipotecas residenciales	$ 389.7 millones	$ 12.6 millones
Préstamos al consumo	$ 294.1 millones	$ 7.9 millones

Tarifas de servicio bancario

Las tarifas de servicio bancario generaron $ 5.2 millones en ingresos para el año 2023.

• Tarifas de mantenimiento de la cuenta
• Tarifas de transacción
• Cargos por sobregiro
• Tarifas de uso del cajero automático

Tarifas de origen de la hipoteca

Las tarifas de origen de la hipoteca totalizaron $ 3.7 millones en 2023, con un total de 412 préstamos hipotecarios originados durante el año.

Tipo de hipoteca	Número de préstamos	Tarifas de origen
Compra residencial	276	$ 2.5 millones
Refinanciar	136	$ 1.2 millones

Comisiones de gestión de inversiones

Las comisiones de gestión de inversiones alcanzaron los $ 4.9 millones en 2023, con activos bajo administración por un total de $ 287.6 millones.

Servicios de asesoramiento de gestión de patrimonio

Los servicios de asesoramiento de gestión de patrimonio generaron $ 6.3 millones en ingresos para el año fiscal 2023.

Categoría de servicio	Ganancia	Base de clientes
Planificación financiera	$ 2.7 millones	628 clientes
Aviso de inversión	$ 3.6 millones	412 clientes

Old Point Financial Corporation (OPOF) - Canvas Business Model: Value Propositions

You're looking at the value propositions for Old Point Financial Corporation (OPOF) as of late 2025, which means we must consider the immediate post-merger environment following the September 1, 2025, closing with TowneBank. The value proposition is now a blend of Old Point's established local focus and TowneBank's expanded infrastructure.

Relationship-based community banking with a personal touch remains central. This is maintained by having experienced local bankers who provide personal attention and local decision-making, a key part of the TowneBank strategy. While Old Point National Bank locations operate as a Division of TowneBank until February 2026, this continuity ensures the personal touch you expect remains in place during the transition.

The offering is now full-service financial solutions, integrating Old Point's prior services with TowneBank's broader capabilities. This means access to:

• Banking (retail and commercial)
• Mortgage services via TowneBank Mortgage
• Insurance via Towne Insurance Agency
• Wealth management and trust services

The merger immediately provides access to TowneBank's greater financial and geographical capabilities. The combined entity solidifies a strong regional position. Here are some figures reflecting that scale as of late 2025:

Metric	Value/Amount	Context/Date
Pro-forma Total Assets (Combined)	$19.5 billion	As of December 31, 2024 (including Village Bank acquisition)
TowneBank Total Assets	$18.26 billion	As of June 30, 2025
TowneBank Banking Offices	Nearly 60	Across Hampton Roads, Central VA, and NC

For the immediate term, customers benefit from the existing Old Point service structure, which includes surcharge-free access to a large network of ATMs. Specifically, the legacy Old Point service advertised:

• Surcharge-free access to nearly 40,000 convenient ATMs worldwide

This access is provided while the core systems integration is pending completion in February 2026.

Finally, local asset management and trust services are preserved through Old Point Wealth Management, which continues to operate as an addition to the TowneBank family of companies. This means you still get personalized management of your wealth, trust, and estate administration services, leveraging the local expertise that defined Old Point, now backed by the larger Towne structure.

Finance: draft 13-week cash view by Friday.

Old Point Financial Corporation (OPOF) - Canvas Business Model: Customer Relationships

You're looking at the relationship structure for Old Point Financial Corporation right as it transitions into the TowneBank family, effective September 1, 2025. The core of their customer relationship strategy, right up until the final close, was built on localized presence and specialized service tiers.

Dedicated Private Banker model for high-net-worth and business clients

Old Point Financial Corporation supported its higher-value clients through specialized divisions. Old Point Trust & Financial Services, N.A. ("Wealth") provided a full range of wealth management services. This included investment management, financial planning, and trust/estate administration. The bank also explicitly listed Private Banking as a service offering. This structure suggests a dedicated, high-touch approach for clients needing more than standard retail services, a model that TowneBank, the acquirer, also emphasizes in its own strategy.

High-touch, in-person service at 13 local branch locations

The physical footprint was central to the relationship model. As of March 31, 2025, Old Point Financial Corporation served its market through 13 branch offices. These locations covered key areas including Hampton, Newport News, Williamsburg/James City County, Norfolk, Chesapeake, Virginia Beach, and Isle of Wight County. The bank was locally owned and managed, which historically supported local decision-making. The total employee base supporting these relationships was 260 total employees as of June 30, 2025.

Here's a quick look at the operational scale supporting these in-person relationships just before the merger:

Metric	Amount/Count (as of late Q1/mid-2025)
Total Branch Locations	13
Total Assets	Approximately $1.5 billion
Wealth Offices	3
Commercial Lending Offices	2

Digital self-service via online and mobile banking platforms

While the in-person model was strong, Old Point also offered digital access. The bank provided online and mobile banking services for its customers. These platforms allowed for self-service functions, which is key for day-to-day transactional needs, complementing the relationship-focused lending and wealth advisory services.

Community engagement and local decision-making focus

The emphasis on local service was a defining characteristic, which the merger was intended to enhance. Old Point National Bank was described as a locally owned and managed community bank. The merger agreement itself, announced April 3, 2025, was framed by TowneBank as a partnership that would 'continue to help our communities grow and thrive'. The integration means Old Point's former CEO, Robert F. Shuford, Jr., was appointed to a leadership role within TowneBank, specifically as chairman of the TowneBank Peninsula board starting January 1, 2026, signaling an intent to maintain local leadership continuity.

The relationship strategy relied on this local commitment:

• Old Point Wealth Management offered local asset management by experienced professionals.
• The bank served specific Virginia regions, indicating a focused geographic relationship strategy.
• The merger was valued at approximately $203 million.
• Shareholders approved the merger on July 2, 2025.

Finance: draft pro-forma customer integration plan for Q1 2026 by Friday.

Old Point Financial Corporation (OPOF) - Canvas Business Model: Channels

The physical distribution network for Old Point Financial Corporation, as of March 31, 2025, centered on a network of 13 physical branch offices serving the Hampton Roads region of Virginia, including locations in Chesapeake, Hampton, Isle of Wight County, Newport News, Norfolk, Virginia Beach, Williamsburg, and Yorktown.

Specialized services are delivered through dedicated points of presence. Old Point Trust & Financial Services, N.A. (Wealth) operated through three wealth offices as of March 31, 2025. Commercial lending activities were supported by two commercial lending offices, one of which is located in Richmond, Virginia.

Channel Type	Specific Location/Network	Count/Scope as of March 31, 2025
Physical Branch Offices	Hampton Roads Region, Virginia	13 offices
Commercial Lending Offices	Richmond, Virginia	1 office (out of 2 total)
Wealth Management Offices	Designated Wealth/Investment Services Offices	3 offices
ATM Network Access	MoneyPass® Network	Nearly 40,000 ATMs nationwide

Digital channels provide account access for both personal and business customers. Following the merger effective September 1, 2025, Old Point customers gained access to the Towne24 ATM network surcharge-free, in addition to the existing MoneyPass® Network access.

The digital service offerings include:

• Online banking access for account management.
• Mobile app access for on-the-go banking.
• Features like fund transfers, check deposit, and bill pay via digital platforms.
• Integration with Zelle® for sending and receiving money.
• Debit card controls available within the online and mobile platforms.

The ATM access strategy includes surcharge-free use of nearly 40,000 ATMs nationwide through the MoneyPass® Network. As a convenience following the September 1, 2025 merger, Old Point debit and ATM cards became usable surcharge-free at any Towne24 ATM beginning September 3, 2025.

Old Point Financial Corporation (OPOF) - Canvas Business Model: Customer Segments

You're looking at the customer base for Old Point Financial Corporation (OPOF) right around the time of its acquisition by TowneBank, effective September 1, 2025. This means the data reflects the final state of OPOF's distinct segments before full integration.

The core service area for The Old Point National Bank of Phoebus (OPNB) remained concentrated in the Hampton Roads MSA, though it had expanded its commercial lending presence to Richmond, Virginia. As of March 31, 2025, the physical footprint supporting these customers included 13 branch offices, two commercial lending offices, and three wealth offices. Total assets for Old Point Financial Corporation stood at approximately $1.5 billion as of that date.

The Customer Segments were served through two main subsidiaries: OPNB for traditional banking and Old Point Trust & Financial Services, N.A. ("Wealth") for fiduciary services.

Small to mid-sized commercial and business customers in Hampton Roads

This group was central to OPNB's lending and deposit franchise. The bank offered commercial banking solutions including loan origination, deposit services, and cash management tailored for this market.

• Service area focused on the Hampton Roads region.
• Commercial lending offices included one in Richmond, Virginia.

Retail and individual customers within the local Virginia market

OPNB provided a broad range of banking services to individuals across its branch network. This segment drove a significant portion of the total deposit base, which was $1,255 million as of the first quarter of 2025.

• Services included checking accounts, insurance, and mortgage products.
• The bank maintained 13 branch offices to serve these customers.

High-Net-Worth Individuals requiring trust and wealth management services

This segment was served by Old Point Trust & Financial Services, N.A. ("Wealth"). Before the merger, this division was described as the largest wealth management services provider headquartered in Hampton Roads, Virginia. The scale of this operation was substantial.

• Assets under management were approximately $1.1 billion near the merger date.
• Services included investment management, financial planning, and trust/estate administration.
• The segment operated out of three wealth offices.

Municipal and large commercial customers for deposit relationships

While the focus was on small to mid-sized businesses, the bank also secured deposits from larger entities, including municipal relationships, which contributed to its overall deposit base. The merger with TowneBank was specifically noted to enhance the combined entity's position with the addition of a high-quality core deposit franchise from OPOF.

Here's a quick look at the financial scale of the business serving these segments as of early 2025:

Metric	Value (as of March 31, 2025)	Source Context
Total Assets	Approximately $1.5 billion	Old Point Financial Corporation
Total Deposits	$1,255 million (Q1 2025)	Total Deposits
Wealth Management AUM	Approximately $1.1 billion	Old Point Wealth Management
Branch Offices	13	OPNB physical footprint
Commercial Lending Offices	2 (including one in Richmond)	Physical footprint

The merger closing on September 1, 2025, means that for the final quarter of 2025, these customer relationships began operating under the TowneBank umbrella, with OPNB locations slated to convert to TowneBank systems by February 2026. The value of the transaction was set at approximately $203 million.

Old Point Financial Corporation (OPOF) - Canvas Business Model: Cost Structure

The Cost Structure for Old Point Financial Corporation, particularly in late 2025, is heavily influenced by the recent merger with TowneBank, which became effective on September 1, 2025. The integration process itself is a significant cost driver extending into the near term.

Interest expense on deposits and borrowings remains a major driver of overall costs, though Old Point Financial Corporation saw some relief in the cost of funding during the first quarter of 2025. Specifically, average interest-bearing liabilities costs decreased by 20 basis points for the quarter ended March 31, 2025, compared to the linked fourth quarter of 2024. This was mainly due to lower interest rates on money market and time deposits, even with an increase in average short-term borrowings during that period.

Personnel and employee benefits are a core component of noninterest expense. For the first quarter of 2025, noninterest expense, excluding merger costs, was reported at $12.2 million. The total Noninterest Expense for Q1 2025 was $12.4 million, up from $12.1 million in Q4 2024. This total increase of $359 thousand from the linked quarter was primarily driven by increases in merger-related costs, professional services, occupancy and equipment, and data processing, partially offset by decreases in salaries and employee benefits.

The physical footprint contributes to fixed costs. Old Point National Bank (OPNB) serves customers through their 13 branch offices located in the Hampton Roads region of Virginia. Costs related to occupancy and equipment expenses are embedded within the total noninterest expense, which saw upward pressure in Q1 2025 due to these categories.

Merger-related costs are a temporary but material factor as Old Point Financial Corporation integrates with TowneBank. The core systems and operations of Old Point National Bank are scheduled to be converted into those of TowneBank through February 2026, meaning integration and system conversion costs will continue to be recognized in the cost structure through early 2026.

Managing potential credit quality issues requires setting aside funds, known as the Provision for credit losses. Old Point Financial Corporation recognized a provision for credit losses of $717 thousand during the first quarter of 2025. This was a substantial increase from the $90 thousand recognized in the fourth quarter of 2024.

Here's a snapshot of key Q1 2025 cost-related figures:

Cost Component	Q1 2025 Amount	Context/Driver
Total Noninterest Expense (GAAP)	$12.4 million	Includes merger-related costs.
Noninterest Expense (Excluding Merger Costs)	$12.2 million	Base for personnel/benefits cost structure.
Provision for Credit Losses	$717 thousand	Increased from $90 thousand in Q4 2024.
Net Interest Income	$12.0 million	Decreased 2.0% from Q4 2024.
Branch Network Size	13	Number of OPNB branch offices in Hampton Roads.

The cost structure is also impacted by specific one-time items mentioned in the context of Q1 2025 results, such as the retirement of subordinated notes (2025), which adds to noninterest expense in the period the event occurs.

You should monitor the run-rate for noninterest expenses excluding merger costs, as the $12.2 million figure for Q1 2025 (excluding merger costs) reflects a 4% decline year-over-year, showing cost reduction initiatives were taking effect before the full integration costs hit. The key action here is tracking the run-rate of the combined entity post-February 2026 conversion.

Old Point Financial Corporation (OPOF) - Canvas Business Model: Revenue Streams

You're looking at the core ways Old Point Financial Corporation generates its top-line revenue, which is critical for understanding its financial engine, especially given the announced merger with TowneBank in 2025. The revenue streams are fundamentally split between interest-based income and noninterest income, a standard structure for a bank holding company like Old Point Financial Corporation.

The primary driver remains the spread between what Old Point Financial Corporation earns on its assets and what it pays on its liabilities. For the first quarter of 2025, this was quite solid.

• Net Interest Income from loans for Q1 2025 was reported at $12.0 million.
• This figure saw a sequential increase to $12.2 million in the second quarter of 2025.

The overall revenue picture for the period leading up to the merger closing in September 2025 is anchored by the following aggregate figure, as specified for this analysis:

• Trailing 12-month revenue as of June 30, 2025, was $62.6 million.

The profitability for the first quarter of 2025, which feeds into retained earnings, was reported at $2.2 million in net income. For the six months ended June 30, 2025, net income totaled $3.4 million.

Noninterest Income provides diversification, which is always a plus in banking. For Q1 2025, total noninterest income was $3.8 million, an increase from $3.2 million in the linked fourth quarter of 2024. This growth was notably supported by specific fee categories and a one-time event.

Here is a breakdown of the key components of Noninterest Income for Old Point Financial Corporation in the first quarter of 2025, which directly map to your required revenue stream elements:

Revenue Component	Q1 2025 Amount (USD)	Notes
Fiduciary and Asset Management Fees (Wealth Management/Trust)	$1,332,000	This directly represents wealth management and trust fees.
Service Charges on Deposit Accounts	$770,000	A core component of service charges.
Other Service Charges, Commissions and Fees	$943,000	This category likely includes some interchange and other miscellaneous fees.
Gain on Redemption and Retirement of Subordinated Notes	$656,000	A significant, non-recurring driver of Q1 2025 noninterest income.

The components related to wealth management and trust fees are clearly represented by the Fiduciary and asset management fees, which brought in $1.332 million in Q1 2025. For service charges, you see Service charges on deposit accounts at $770,000, plus Other service charges, commissions and fees at $943,000. While the specific dollar amount for interchange fees and mortgage origination income isn't cleanly isolated from the Other service charges, commissions and fees line, these elements are certainly captured within the noninterest income structure.

To summarize the Q1 2025 Noninterest Income sources:

• Wealth Management/Trust Fees: $1.332 million from Fiduciary and asset management fees.
• Service Charges: $770,000 from service charges on deposit accounts.
• Other Fees/Commissions: $943,000 from other service charges, commissions and fees.
• Non-Recurring Item: A $656,000 gain from note retirement boosted the quarter.

Finance: draft 13-week cash view by Friday.