| Business Summary | | Old
Point
Financial
Corporation
is
a
two-bank
holding
company
that
conducts
substantially
all
of
its
operations
through
its
subsidiaries,
The
Old
Point
National
Bank
of
Phoebus
(the
Bank)
and
Old
Point
Trust
and
Financial
Services,
N.A.
(Trust).
The
Bank
services
individual
and
commercial
customers,
the
majority
of
which
are
in
Hampton
Roads,
Virginia.
The
Bank
offers
a
full
range
of
deposit
and
loan
products
to
its
retail
and
commercial
customers.
Substantially
all
of
the
Bank's
deposits
are
interest
bearing.
The
majority
of
the
Bank's
loan
portfolio
is
secured
by
real
estate.
Trust
offers
a
full
range
of
services
for
individuals
and
businesses.
Products
and
services
include
retirement
planning,
estate
planning,
financial
planning,
trust
accounts,
tax
services
and
investment
management
services.
As
of
December
31,
2000,
the
Company
had
assets
of
$477.1
million,
loans
of
$319.9
million,
deposits
of
$374.8
million
and
stockholders'
equity
of
$46.5
million | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | OPOF
is
a
two-bank
holding
company
that
conducts
its
operations
through
Old
Point
National
Bank
and
Old
Point
Trust
and
Fin'l
Svcs.
For
the
six
months
ended
6/30/01,
interest
income
rose
11%
to
$17.7
million.
Net
interest
income
after
loan
loss
prov.
rose
8%
to
$8.5
million.
Earnings
rose
6%
to
$2.6
million.
Net
interest
income
reflects
increased
earnings
assets,
partially
offset
by
a
lower
interest
margin.
Earnings
were
partially
offset
by
higher
salaries
and
other
expenses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Robert Shuford, 63 Chairman,
Pres, CEO | -- | Louis Morris, 46 Pres
and CEO of Bank, Director | $163K | Frank Continetti, 41 Exec.
VP/Trust | 126K | Laurie Grabow, 43 Sr.
VP-Fin. | -- | Margaret Causby, 50 Sr.
VP/Admin. | 134K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|