{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-24-023376","form_type":"8-K","ticker":null,"cik":"0000740971","company_name":"OLD POINT FINANCIAL CORP","filed_at":"2024-04-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.883079+00:00","generated_at":"2026-06-03T05:01:46.976763+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Old Point Q1 net income $1.7M, EPS $0.34; cost cuts of $5M annualized; YoY net income down 44.3%","bullets":["Net income $1.7M, diluted EPS $0.34, up from Q4 2023 ($0.29) but down from Q1 2023 ($0.62).","Noninterest expense reduction initiatives targeting $5.0M annualized pre-tax savings; 12% headcount reduction saves $3.7M annually; one-time costs $345K in Q1.","Net interest margin 3.45%, flat linked quarter, down from 4.02% YoY; provision for credit losses $80K vs $1.4M prior quarter.","Non-performing assets stable at $2.2M (0.15% of assets); total assets $1.4B, deposits down $2.1M.","Liquidity $379.2M (26.2% of assets); ROE 6.4% vs 12.5% Q1 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-24-023376","json":"https://secwatch.observer/filing/0001140361-24-023376.json","markdown":"https://secwatch.observer/filing/0001140361-24-023376.md","text":"https://secwatch.observer/filing/0001140361-24-023376.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/740971/000114036124023376/0001140361-24-023376-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/740971/000114036124023376/ef20027850_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T05:01:46.976763+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"29e56471ceb375a22a5106abc7e3a4a370e6e745","claim":"OLD POINT FINANCIAL CORP reported first quarter ended March 31, 2024 results: net income $1.7 million, EPS $0.34 per diluted share.","evidence_excerpt":"On April 30, 2024 Old Point Financial Corporation (the “Corporation”) issued a press release reporting its earnings and financial results for the first quarter ended March 31, 2024.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/740971/000114036124023376/0001140361-24-023376-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2024"},{"label":"Net income","value":"$1.7 million"},{"label":"EPS","value":"$0.34 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}