Acquisition | OLD POINT FINANCIAL CORP | 1st September 2025
Initially announced on April 3, 2025 TOWNE BANK made an offer for OLD POINT FINANCIAL CORP of USD 41 or 1.14 shares of TOWNE BANK per OLD POINT FINANCIAL CORP share held, subject to proration. On August 27, 2025, the Nasdaq announced that the consideration will be cash, indicating the stock consideration has been oversubscribed. OLD POINT FINANCIAL CORP shareholders approved the Acquisition on July 2, 2025. Pending the completion of customary closing conditions, the Acquisition is expected to be completed on September 1, 2025. Trading in shares of OLD POINT FINANCIAL CORP is expected to be halted effective September 1, 2025.
The treatment below will be applied to the following indices:
- OLD POINT FINANCIAL CORP will be removed from the Index.
- The weight of OLD POINT FINANCIAL CORP (OPOF.OQ) based on its last close price will be distributed pro rata to remaining Index constituents.
- Effective Date (open): 01/09/2025
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