(NASDAQ:TOWN) SUFFOLK, Va., Sept. 02, 2025 (GLOBE NEWSWIRE) -- TowneBank (Nasdaq: TOWN) announced today the completion of its merger with Old Point Financial Corporation (“Old Point”), the parent company of The Old Point National Bank of Phoebus (“Old Point National Bank”) and Old Point Trust & Financial Services, N.A. (“Old Point Wealth Management”). The merger, which included Old Point National Bank’s merger into TowneBank, enhances TowneBank’s position in the Hampton Roads MSA with the addition of a high-quality core deposit franchise.
Related Questions
How will the merger affect TowadBank's earnings forecasts and valuation multiples?
What are the expected synergies and cost savings from integrating Old Point's deposit franchise and wealth management units?
Will the combined entity's increased market presence in the Hampton Roads MSA lead to measurable revenue growth or competitive advantages?