Old Point Financial completes merger with TowneBank; shares converted to $41 cash or 1.14 TowneBank shares

OLD POINT FINANCIAL CORP

Merger completed on September 1, 2025; Old Point merged into TowneBank, which survives.
Shareholders received $41.00 cash or 1.14 TowneBank shares per share; after proration, 40% cash, 60% stock.
Elections: 28.3% elected cash, 60.7% elected stock, 10.9% made no election.
Old Point common stock delisted from Nasdaq; all directors and officers resigned effective immediately.
Old Point ceases to exist as a separate legal entity; reporting obligations terminated.

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