Troutman Pepper Locke Counsels Old Point Financial Corporation in Merger with TowneBank

Troutman Pepper Locke Counsels Old Point Financial Corporation in Merger with TowneBank

Troutman Pepper Locke client Old Point Financial Corporation, the parent company of The Old Point National Bank of Phoebus (OPNB), and Hampton Roads-based TowneBank recently entered a definitive agreement to merge. Under this agreement, TowneBank will acquire Old Point Financial Corporation, OPNB, and Old Point Trust & Financial Services (Old Point Wealth).The proposed transaction will enhance TowneBank’s position in the Hampton Roads MSA with t…