1. Home >
  2. M&A >
  3. Add-on Acquisition >
  4. United States >
  5. Virginia >
  6. Towne Bank Acquires Old Point National Bank

M&A Deal Summary

Towne Bank Acquires Old Point National Bank

On April 3, 2025, Towne Bank acquired financial services company Old Point National Bank for 203M USD

Acquisition Highlights
  • This is Towne Bank’s 1st transaction in the Financial Services sector.
  • This is Towne Bank’s largest (disclosed) transaction.
  • This is Towne Bank’s 2nd transaction in the United States.
  • This is Towne Bank’s 1st transaction in Virginia.

M&A Deal Summary
Date 2025-04-03
Target Old Point National Bank
Sector Financial Services
Buyer(s) Towne Bank
Deal Type Add-on Acquisition
Deal Value 203M USD
Advisor(s) Keefe, Bruyette & Woods (Financial)
Troutman Pepper Hamilton Sanders (Legal)

Target

Old Point National Bank

Hampton, Virginia, United States
Old Point National Bank offers a full range of retail and commercial financial services, including mortgage loan products offered through Old Point Mortgage. A full array of insurance products is also offered through Old Point Insurance, LLC in partnership with Morgan Marrow Company. Wealth offers a full range of services for individuals and businesses. Their products and services include retirement planning, estate planning, financial planning, estate and trust administration, retirement plan administration, tax services and investment management services. Old Point Financial was founded in 1922 and is based in Hampton, Virginia.

Search 214,107 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try Free

Buyer(S) 1

Buyer

Towne Bank

Portsmouth, Virginia, United States
Category Company
Founded 1998
Sector Financial Services
Employees2,720
Revenue 693M USD (2024)
DESCRIPTION

Towne Bank is a provider of financial services. TowneBank was founded in 1998 and is based in Portsmouth, Virginia.

DEAL STATS #
Overall 2 of 2
Sector: Financial Services M&A 1 of 1
Type: Add-on Acquisition M&A Deals 2 of 2
State: Virginia M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-01 The Clement Companies

Greenville, North Carolina, United States

The Clement Companies, Inc. is a provider of insurance services.

Buy -
Mergr

Solution for

Product

Company

Legal