Welcome to our dedicated page for Old Point Finl news (Ticker: OPOF), a resource for investors and traders seeking the latest updates and insights on Old Point Finl stock.
Old Point Financial Corporation (OPOF) maintains its position as a trusted provider of community banking and wealth management services through strategic initiatives and local engagement. This dedicated news hub offers investors and financial professionals centralized access to official updates and market-relevant developments.
Track OPOF's financial performance with quarterly earnings reports, strategic partnership announcements, and regulatory filings. Stay informed about community reinvestment programs, trust service expansions, and operational efficiency measures that demonstrate the company's commitment to sustainable growth.
Our curated news collection serves as an essential resource for monitoring credit management improvements, deposit product innovations, and asset quality enhancements. Discover updates on leadership changes, dividend declarations, and technology implementations that shape OPOF's market position.
Bookmark this page for real-time access to verified financial disclosures and corporate announcements. Combine OPOF's operational updates with broader industry context to inform your analysis of this community-focused financial institution.
Old Point Financial has announced its quarterly cash dividend of $0.14 per share on common stock. The dividend will be paid on March 28, 2025 to shareholders of record as of March 5, 2025. This dividend payment maintains the same level as the previous quarter. Based on the stock's closing price of $29.73 on February 18, 2025, the dividend represents an annual yield of approximately 1.9%.
Old Point Financial (OPOF) reported record earnings for Q4 and full-year 2024. Q4 net income reached $2.9 million ($0.57 per diluted share), up from $2.4 million in Q3 2024 and $1.5 million in Q4 2023. Full-year 2024 net income was $9.5 million ($1.88 per diluted share), compared to $7.7 million in 2023.
Total assets were $1.5 billion as of December 31, 2024, a slight increase of 0.3% year-over-year. Net loans held for investment decreased 6.5% to $998.7 million, while total deposits grew 2.0%. The company maintained strong asset quality with non-performing assets at 0.19% of total assets. The net interest margin was 3.52% in Q4 2024, and the company declared a quarterly dividend of $0.14 per share.
Cost-saving measures implemented in 2024, including a 12% reduction in employee headcount, contributed to improved operational efficiency.
Old Point Financial has announced a quarterly cash dividend of $0.14 per share on its common stock. The dividend will be paid on December 27, 2024 to shareholders of record as of December 4, 2024. This dividend maintains the same level as the previous quarter. Based on the stock's closing price of $20.30 on November 19, 2024, the dividend represents an annual yield of approximately 2.76%.
Old Point Financial (NASDAQ: OPOF) has appointed Cathy W. Liles as Senior Vice President and Chief Financial Officer. Liles, who has been serving as Interim CFO since July 2024, joined the company in May 2024 as Chief Accounting Officer. She previously held executive positions at American National Bankshares and Carter Bank & Trust, and was a partner at Forvis LLP. A Certified Public Accountant with a B.S. in Accounting from Belmont Abby College, Liles is also a member of the Virginia Bankers Association's CFO Committee.
Old Point Financial (OPOF) reported Q3 2024 net income of $2.4 million with diluted EPS of $0.47, compared to $2.5 million and $0.50 in Q2 2024. Total assets reached $1.5 billion, up 2.2% from December 2023. Net loans decreased 5.1% to $1.0 billion, while total deposits increased 4.3%. The company's net interest margin was 3.56%, down from 3.62% in Q2. Notable developments include $997 thousand in one-time costs related to cost-saving initiatives expected to reduce annual expenses by $5.0 million. Asset quality remains strong with non-performing assets at 0.18% of total assets.
Old Point Financial (OPOF) has announced a quarterly cash dividend of $0.14 per share on its common stock. The dividend will be paid on September 27, 2024 to shareholders of record as of September 4, 2024. This dividend amount remains unchanged from the previous quarter. Based on the stock's closing price of $18.39 on August 20, 2024, the annual dividend yield is approximately 3.05%. This announcement demonstrates Old Point Financial 's commitment to providing consistent returns to its shareholders, maintaining its dividend policy despite potential economic uncertainties.
Old Point Financial reported net income of $2.5 million with diluted earnings per share of $0.50 for Q2 2024, up from $1.7 million and $0.34 EPS in Q1 2024. Key highlights include:
- Total assets were $1.4 billion as of June 30, 2024, down 1.6% from December 31, 2023
- Net loans held for investment decreased 2.4% to $1.0 billion
- Total deposits increased 0.5% to $1.2 billion
- Return on average equity (ROE) was 9.43%, up from 6.44% in Q1 2024
- Net interest margin improved to 3.62% from 3.45% in Q1 2024
- Non-performing assets decreased to 0.14% of total assets
The company continued cost-saving initiatives, expecting to reduce annual noninterest expense by $5.0 million when fully implemented. Old Point plans to close its Crown Center branch in Norfolk on September 27, 2024.
Old Point Financial , headquartered in Hampton, Virginia, announced a quarterly cash dividend of $0.14 per share on its common stock.
The dividend will be paid on June 28, 2024, to shareholders of record as of June 5, 2024.
This dividend amount is consistent with the previous quarter's dividend.
Based on the stock's closing price of $14.81 on May 21, 2024, the annual dividend yield is approximately 3.8%.
Old Point Financial (NASDAQ: OPOF) reported net income of $1.7 million and diluted earnings per share of $0.34 for Q1 2024. Despite inflationary pressures, the company is focused on expense reduction to boost earnings. Total assets decreased slightly, while ROE improved to 6.4%. Noninterest income decreased, and noninterest expenses increased. The Company declared dividends of $0.14 per share, reflecting a payout ratio of 41.1%.
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