TowneBank to acquire Old Point Financial for $203m.

TowneBank, a company built on relationships, offering a full range of banking and other financial services, agreed to acquire Old Point Financial, a bank holding company, for $203m. “We are excited to partner with Old Point and welcome its talented team into our TowneBank family. Old Point has legendary status here in our community and most especially, in Hampton, Virginia where it was founded over 100 years ago. I have the deepest respect for the Shuford family that has guided Old Point throughout the years with the highest of character and unwavering integrity. Joining our two banking families together will create a combined franchise with a strong core deposit base, outstanding credit quality, and substantial synergies that will generate top tier financial performance for our shareholders while helping our communities grow and prosper," G. Robert Aston, Jr., TowneBank Executive Chairman.