Old Point Financial Corporation (OPOF): Business Model Canvas [Jan-2025 Mis à jour]

Old Point Financial Corporation (OPOF) apparaît comme une puissance bancaire régionale dynamique, se positionnant stratégiquement dans le paysage financier compétitif du sud-est de la Virginie. En créant méticuleusement un modèle commercial qui entrelace le service personnalisé, l'innovation technologique et les racines de la communauté profonde, cette institution financière a développé une approche globale qui va au-delà des paradigmes bancaires traditionnels. Leur stratégie unique mélange la compréhension du marché local avec des solutions financières sophistiquées, créant une proposition de valeur convaincante qui résonne avec divers segments de clients, des petites entreprises aux particuliers élevés.

Old Point Financial Corporation (OPOF) - Modèle d'entreprise: partenariats clés

Associations d'entreprises locales en Virginie

Old Point Financial Corporation maintient des partenariats stratégiques avec:

Nom d'association	Focus de partenariat	Emplacement
Chambre de commerce de Hampton Roads	Réseautage d'entreprise	Virginie
Virginia Bankers Association	Conformité réglementaire	Richmond, VA

Partners du réseau bancaire régional

Les principales collaborations bancaires régionales comprennent:

• Banque de l'Union atlantique
• Townebank
• Bay Banks of Virginia

Fournisseurs de services d'assurance et d'investissement

Fournisseur	Type de service	Détails du partenariat
Assurance à l'échelle nationale	Produits d'assurance	Partenariat de référence
Raymond James Financial	Services d'investissement	Collaboration de gestion de la patrimoine

Organisations de développement communautaire

• Fondation communautaire de la péninsule
• Hampton Roads Economic Development Alliance
• Centres locaux de développement des petites entreprises

Venseurs de technologie et de banque numérique

Fournisseur	Solution technologique	Année de mise en œuvre
Finerv	Plateforme bancaire de base	2022
Jack Henry & Associés	Logiciel bancaire numérique	2023

Old Point Financial Corporation (OPOF) - Modèle d'entreprise: activités clés

Services bancaires commerciaux et personnels

En 2024, Old Point Financial Corporation fournit aux services bancaires avec un actif total de 1,68 milliard de dollars. La banque exploite 19 succursales à service complet à travers la Virginie.

Catégorie de service bancaire	Comptes totaux	Équilibre moyen
Comptes chèques	42,500	$8,750
Comptes d'épargne	28,300	$15,600
Comptes d'entreprise	6,200	$87,500

Prêts hypothécaires et origine

En 2023, la société a créé 275 millions de dollars de prêts hypothécaires avec une taille de prêt moyenne de 342 000 $.

• Portefeuille hypothécaire résidentiel: 425 millions de dollars
• Prêts immobiliers commerciaux: 312 millions de dollars
• Taux d'intérêt hypothécaire moyen: 6,75%

Investissement et gestion de la patrimoine

Old Point Financial gère environ 480 millions de dollars d'actifs de gestion de patrimoine.

Service d'investissement	Total des actifs sous gestion	Portefeuille de clients moyens
Gestion de la richesse personnelle	285 millions de dollars	$620,000
Planification de la retraite	145 millions de dollars	$415,000
Investissements institutionnels	50 millions de dollars	2,3 millions de dollars

Développement de la plate-forme bancaire numérique

La banque prend en charge 62 000 utilisateurs de banque numérique actifs avec une plate-forme bancaire mobile lancée en 2023.

• Téléchargements d'applications bancaires mobiles: 28 500
• Volume de transaction en ligne: 1,2 million de
• Investissement bancaire numérique: 3,6 millions de dollars en 2023

Gestion des risques et surveillance de la conformité

Le budget de conformité pour 2024 est de 4,2 millions de dollars avec une équipe dédiée de 22 professionnels de la gestion des risques.

Zone de conformité	Budget annuel	Allocation du personnel
Conformité réglementaire	1,8 million de dollars	12 professionnels
Cybersécurité	1,4 million de dollars	6 professionnels
Prévention de la fraude	1 million de dollars	4 professionnels

Old Point Financial Corporation (OPOF) - Modèle d'entreprise: Ressources clés

Réseau de succursale

Depuis 2024, Old Point Financial Corporation maintient 14 emplacements bancaires à service complet Dans le sud-est de la Virginie, spécifiquement concentré dans:

• Hampton
• Newport News
• Williamsburg
• Norfolk
• Suffolk

Composition de la main-d'œuvre financière

Catégorie des employés	Nombre total
Total des employés	224
Professionnels à temps plein	198
Personnel à temps partiel	26
Titulaires de diplômes avancés	47

Infrastructure bancaire numérique

Métriques bancaires numériques:

• Utilisateurs de la banque mobile: 38 642
• Plateformes bancaires en ligne: 2 systèmes intégrés
• Volume de transaction numérique: 672 435 transactions mensuelles

Systèmes technologiques financières

Système technologique	Année de mise en œuvre	Investissement annuel
Plateforme bancaire de base	2021	1,2 million de dollars
Infrastructure de cybersécurité	2022	$875,000

Indicateurs de réputation du marché

Métriques de réputation:

• Évaluation de satisfaction du client: 4.6 / 5
• Part de marché local: 7,3%
• Années de fonctionnement: 132

Old Point Financial Corporation (OPOF) - Modèle d'entreprise: propositions de valeur

Solutions financières personnalisées pour les communautés locales

Au quatrième trimestre 2023, Old Point Financial Corporation fournit des services bancaires spécialisés dans le sud-est de la Virginie. Pénétration totale du marché local: 37,4% dans la région des routes de Hampton.

Catégorie de service	Part de marché local	Segments de clientèle
Banque personnelle	42.6%	Individus, familles
Banque des petites entreprises	28.3%	Entrepreneurs locaux
Banque commerciale	22.1%	Entreprises régionales

Taux d'intérêt concurrentiels et produits bancaires

Taux d'intérêt moyens en janvier 2024:

• Compte d'épargne: 3,75%
• Compte chèque: 0,50%
• CD à 12 mois: 4,25%
• Prêts à domicile: 7,35%

Services complets de gestion de patrimoine

Total des actifs sous gestion (AUM): 687,3 millions de dollars au 31 décembre 2023.

Service de gestion de patrimoine	Total des clients	Valeur moyenne du compte
Planification de la retraite	4,215	$426,000
Avis d'investissement	3,687	$512,000
Planification successorale	2,943	$765,000

Expériences bancaires numériques et en personne pratique

Métriques bancaires numériques pour 2023:

• Utilisateurs de la banque mobile: 62 500
• Volume de transaction en ligne: 3,2 millions
• Taux de satisfaction bancaire numérique: 94,3%

Engagement fort envers le développement économique local

Impact économique local en 2023:

Catégorie d'investissement	Montant total	Les entreprises locales soutenues
Prêts aux petites entreprises	124,6 millions de dollars	387 entreprises
Développement communautaire	3,2 millions de dollars	42 projets locaux
Contributions caritatives	1,7 million de dollars	89 organisations locales

Old Point Financial Corporation (OPOF) - Modèle d'entreprise: relations clients

Approche de service client personnalisé

Old Point Financial Corporation conserve un modèle de service centré sur le client avec 7 Emplacements de la succursale Dans toute la Virginie, en se concentrant sur les expériences bancaires personnalisées.

Métrique du service client	Données de performance
Temps d'interaction du client moyen	18,5 minutes par session
Taux de satisfaction client	4.3 / 5 étoiles
Taux de rétention de la clientèle annuelle	87.6%

Modèle de banque de relation

La société met l'accent sur les relations avec les clients à long terme grâce à des solutions financières ciblées.

• Représentants bancaires personnels dévoués
• Recommandations de produits financiers personnalisés
• Structures de tarification basées sur la relation

Prise en charge des banques numériques et mobiles

Les plateformes de banque numérique fournissent des services en ligne complets avec 342 millions de dollars en volume de transactions numériques en 2023.

Fonctionnalité bancaire numérique	Statistiques d'engagement
Utilisateurs de la banque mobile	42 500 utilisateurs actifs
Transactions de paiement de factures en ligne	276 000 transactions annuelles

Consultations de conseil financier régulières

Offrir une planification financière complète avec 12 conseillers financiers certifiés à travers les emplacements de service.

• Sessions de révision des investissements trimestrielles
• Consultations de planification de la retraite
• Réunions de stratégie de gestion de la patrimoine

Engagement communautaire et réseautage local

Maintenir une forte présence locale avec 1,2 million de dollars d'investissement communautaire en 2023.

Activité d'engagement communautaire	Participation annuelle
Parrainages commerciaux locaux	23 événements
Ateliers d'éducation financière	48 ateliers
Contributions de bienfaisance communautaires	$475,000

Old Point Financial Corporation (OPOF) - Modèle d'entreprise: canaux

Emplacements de branche physiques

En 2024, Old Point Financial Corporation maintient 16 emplacements physiques à travers la Virginie, spécifiquement concentrés dans les régions de Hampton Roads et de la péninsule.

Type d'emplacement	Nombre de branches	États couverts
Branches à service complet	16	Virginie
Emplacements d'entraînement	9	Virginie

Plateforme bancaire en ligne

La plate-forme bancaire en ligne dessert environ 22 500 utilisateurs de banque numérique actifs au quatrième trimestre 2023.

• Plate-forme Web disponible 24/7
• Connexion cryptée sécurisée
• Caractéristiques de gestion des comptes

Application bancaire mobile

L'application bancaire mobile d'Old Point Financial prend en charge plus de 15 000 utilisateurs actifs mensuels avec des capacités de transaction en temps réel.

Fonctionnalité d'application	Disponibilité
Dépôt de chèques mobiles	Oui
Rémunération	Oui
Transferts de fonds	Oui

Services bancaires téléphoniques

La banque téléphonique dessert environ 5 700 clients par mois via des lignes de support client dédiées.

• Informations sur le compte automatisé 24/7
• Représentants du service à la clientèle disponibles pendant les heures d'ouverture
• Options de support multilingues

Réseau ATM

Old Point Financial Corporation exploite 22 machines à ATM propriétaires dans sa région de service.

Type de guichet automatique	Nombre de machines	Capacité de transaction
MAT sur place	16	Transaction complète
ATM hors site	6	Transaction limitée

Old Point Financial Corporation (OPOF) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

En 2024, Old Point Financial Corporation dessert environ 1 200 petites et moyennes entreprises de la région côtière de Virginie. Les prêts commerciaux totaux à ce segment ont atteint 214,3 millions de dollars au cours de l'exercice le plus récent.

Métriques du segment des entreprises	2024 données
Nombre total de clients PME	1,200
Volume de prêt commercial	214,3 millions de dollars
Taille moyenne du prêt	$178,583

Consommateurs individuels locaux

La banque dessert 42 500 comptes de consommation individuels à travers la Virginie, avec une base de dépôt totale de 687,2 millions de dollars en produits bancaires personnels.

• Comptes de chèques personnels: 24 300
• Comptes d'épargne personnels: 18 200
• Solde moyen des dépôts des consommateurs: 16 200 $

Individus à haute nette

Old Point Financial cible 850 personnes à forte valeur élevée avec un actif total sous gestion de 312,6 millions de dollars.

Segment de netteur haute	2024 mesures
Total des clients	850
Actifs sous gestion	312,6 millions de dollars
Portefeuille de clients moyens	$367,765

Investisseurs immobiliers commerciaux

La banque maintient un portefeuille de 225 clients d'investissement immobilier commercial avec des prêts immobiliers totaux de 456,7 millions de dollars.

• Clients immobiliers commerciaux totaux: 225
• Prêt total de biens immobiliers: 456,7 millions de dollars
• Prêt d'investissement immobilier moyen: 2,03 millions de dollars

Organisations à but non lucratif en Virginie

Old Point Financial dessert 95 organisations à but non lucratif avec des services bancaires spécialisés, en maintenant 48,3 millions de dollars de dépôts à but non lucratif et de prêts.

Segment à but non lucratif	2024 données
Clients totaux à but non lucratif	95
Dépôts totaux à but non lucratif	48,3 millions de dollars
Dépôt à but non lucratif moyen	$508,421

Old Point Financial Corporation (OPOF) - Modèle d'entreprise: Structure des coûts

Compensation et avantages sociaux des employés

Pour l'exercice 2023, Old Point Financial Corporation a déclaré des dépenses totales de personnel de 18 642 000 $. La répartition des coûts liés aux employés comprend:

Catégorie de dépenses	Montant ($)
Salaires de base	12,345,000
Assurance maladie	2,456,000
Prestations de retraite	1,987,000
Bonus de performance	1,854,000

Succursale des dépenses opérationnelles

La société a maintenu 15 succursales physiques avec la structure des coûts opérationnels suivante:

• Frais de location et de location: 1 345 000 $
• Utilitaires: 456 000 $
• Entretien et réparations: 287 000 $
• Supplies de bureau: 124 000 $

Maintenance de technologie et d'infrastructure

Les dépenses annuelles liées à la technologie ont totalisé 3 456 000 $, notamment:

Catégorie de coûts technologiques	Montant ($)
Infrastructure informatique	1,654,000
Licence de logiciel	872,000
Cybersécurité	530,000
Remplacement du matériel	400,000

Coûts de conformité réglementaire

Les dépenses liées à la conformité pour 2023 étaient de 2 345 000 $, englobant:

• Services de conseil juridique: 876 000 $
• Audit et rapport: 654 000 $
• Frais de dépôt réglementaire: 415 000 $
• Formation en conformité: 400 000 $

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour l'exercice s'élevaient à 1 234 000 $, distribuées sur divers canaux:

Canal de marketing	Montant ($)
Publicité numérique	456,000
Impression et médias traditionnels	287,000
Parrainages communautaires	198,000
Programmes d'acquisition de clients	293,000

Old Point Financial Corporation (OPOF) - Modèle d'entreprise: Strots de revenus

Intérêt des prêts

Pour l'exercice 2023, Old Point Financial Corporation a déclaré un revenu net d'intérêts de 34,8 millions de dollars, avec des prêts totaux en circulation d'environ 1,14 milliard de dollars.

Catégorie de prêt	Solde total des prêts	Revenu d'intérêt
Immobilier commercial	456,2 millions de dollars	14,3 millions de dollars
Hypothèques résidentielles	389,7 millions de dollars	12,6 millions de dollars
Prêts à la consommation	294,1 millions de dollars	7,9 millions de dollars

Frais de service bancaire

Les frais de service bancaire ont généré 5,2 millions de dollars de revenus pour l'année 2023.

• Frais de maintenance du compte
• Frais de transaction
• Frais de découvert
• Frais d'utilisation de l'ATM

Frais d'origine hypothécaire

Les frais d'origine hypothécaire ont totalisé 3,7 millions de dollars en 2023, avec un total de 412 prêts hypothécaires provenant de l'année.

Type hypothécaire	Nombre de prêts	Frais d'origine
Achat résidentiel	276	2,5 millions de dollars
Refinancement	136	1,2 million de dollars

Commissions de gestion des investissements

Les commissions de gestion des investissements ont atteint 4,9 millions de dollars en 2023, avec des actifs sous gestion totalisant 287,6 millions de dollars.

Services de conseil en gestion de patrimoine

Les services de conseil en gestion de patrimoine ont généré 6,3 millions de dollars de revenus pour l'exercice 2023.

Catégorie de service	Revenu	Clientèle
Planification financière	2,7 millions de dollars	628 clients
Avis d'investissement	3,6 millions de dollars	412 clients

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.