Old Point Financial Corp (OQ:OPOF)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1 W Mellen St HAMPTON VA 23663 |
| Tel: | 1-757-7281743 |
| Website: | https://oldpoint.com |
| IR: | See website |
| Key People | ||
| Robert F. Shuford Chairman of the Board, President, Chief Executive Officer | Paul Pickett Chief Financial Officer, Senior Vice President | Joseph R. Witt Executive Vice President - Financial Service, Director |
| Donald S. Buckless Senior Vice President, Chief Lending Officer | A. Eric Kauders Senior Vice President - Trust | Thomas L. Hotchkiss Chief Credit Officer, Executive Vice President of the Bank |
| Business Overview |
| Old Point Financial Corporation is a holding company of the Old Point National Bank of Phoebus (the Bank) and Old Point Trust & Financial Services, N.A. (the Wealth). The Bank serves individual and commercial customers in the Hampton Roads region of Virginia. It has over 14 branch offices, serving the Hampton Roads localities of Hampton, Newport News, Norfolk, Virginia Beach, Chesapeake, Williamsburg/James City County, York County, and Isle of Wight County. The Bank offers a full range of deposit and loan products to its retail and commercial customers, including mortgage loan products offered through Old Point Mortgage. It offers insurance products through Old Point Insurance, LLC in partnership with Morgan Marrow Company. The Wealth offers a full range of services for individuals and businesses, including retirement planning, estate planning, financial planning, estate and trust administration, retirement plan administration, tax services and investment management services. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Old Point Financial Corp interest income increased 39% to $66.6M. Net interest income after loan loss provision increased 7% to $45.6M. Net income decreased 15% to $7.7M. Net interest income after loan loss provision reflects Bank segment increase of 45% to $61.2M, Trust segment increase of 15% to $5.5M. Net income was offset by Unconsolidated Parent segment income decrease of 15% to $7.7M. |
| Employees: | 291 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $91.41M as of Dec 31, 2023 |
| Annual revenue (TTM): | $66.63M as of Dec 31, 2023 |
| EBITDA (TTM): | $12.39M as of Dec 31, 2023 |
| Net annual income (TTM): | $7.73M as of Dec 31, 2023 |
| Free cash flow (TTM): | $7.13M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $17.32M as of Dec 31, 2023 |
| Shares outstanding: | 5,040,391 as of Mar 19, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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