secwatch.observer — SEC 8-K summary
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Issuer:     OLD POINT FINANCIAL CORP (—)
CIK:        0000740971
Form:       8-K
Filed at:   2025-09-02T23:59:59+00:00
Accession:  0001104659-25-086430
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.95
Item codes: 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/740971/000110465925086430/0001104659-25-086430-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/740971/000110465925086430/tm2524816d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-086430

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