Old Point Announces Successful Conversion of Citizens National Bank
HAMPTON, Va., May 22, 2018 /PRNewswire/ -- Old Point Financial Corporation (Nasdaq Global Market: OPOF) ("Old Point") announced the successful completion of its system conversion of Citizens National Bank ("Citizens"). The acquisition of Citizens was completed April 1, 2018 and the customer accounts and services officially transitioned on May 21, 2018.
"We are focused on creating an outstanding experience for our new customers from Citizens," said Robert F. Shuford, Jr., President and CEO of Old Point National Bank. "With the conversion complete, our focus is now on expanding current relationships and developing new relationships. The successful execution of this strategy will allow us to grow revenues, achieve operational efficiencies, and create significant shareholder value."
As of March 31, 2018, the combined company would have had total assets of approximately $1.04 billion, deposits of approximately $833 million and capital of approximately $102 million.
About Old Point
Old Point Financial Corporation is the parent company of The Old Point National Bank of Phoebus, a locally owned and managed community bank serving all of Hampton Roads and Old Point Trust & Financial Services, N.A., a Hampton Roads wealth management services provider. More information can be found at www.oldpoint.com.
Media Contact:
Erin Black
757-251-2792
[email protected]
SOURCE Old Point Financial Corporation
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