Merger between TowneBank and Old Point National Bank is a done deal

September 3, 2025

The merger between two of Hampton Roads’ major community banks is now complete.

Suffolk-based TowneBank and Hampton-based Old Point National Bank concluded the $203 million deal on Sept. 1.

Old Point Financial Corp., the parent company of The Old Point National Bank of Phoebus and Old Point Trust & Financial Services, is now part of TowneBank.

Old Point National Bank will operate as a division of Towne until February, when all of the systems and operations are slated to be converted, according to a news release.

On Jan. 1, Old Point’s former chairman, president and CEO Robert F. Shuford Jr. will become senior executive vice president and chairman of the TowneBank Peninsula board.

TowneBank’s executive chair G. Robert Aston Jr. said in the announcement that the company looks forward to upholding the banking legacy of the Shuford family in Hampton and beyond.

The merger marks the start of an exciting new chapter for the two banks, Shuford said.

“This partnership brings together two institutions deeply committed to serving our communities, employees, and shareholders,” he said. “We look forward to building a stronger future together.”

Sandra J. Pennecke, 757-652-5836, sandra.pennecke@pilotonline.com

https://www.dailypress.com/2025/09/03/merger-between-townebank-and-old-point-national-bank-is-a-done-deal/

Merger between TowneBank and Old Point National Bank is a done deal <body> <h1> Array ( [0] => nerger between townebank and old point national bank is a done deal [1] => kerger between townebank and old point national bank is a done deal [2] => jerger between townebank and old point national bank is a done deal [3] => mwrger between townebank and old point national bank is a done deal [4] => msrger between townebank and old point national bank is a done deal [5] => mdrger between townebank and old point national bank is a done deal [6] => mrrger between townebank and old point national bank is a done deal [7] => m4rger between townebank and old point national bank is a done deal [8] => m3rger between townebank and old point national bank is a done deal [9] => meeger between townebank and old point national bank is a done deal [10] => medger between townebank and old point national bank is a done deal [11] => mefger between townebank and old point national bank is a done deal [12] => 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