Core Viewpoint - TowneBank and Old Point Financial Corporation have received all necessary regulatory approvals to complete their merger, expected to close around September 1, 2025, pending customary closing conditions [1]. Group 1: Merger Details - The merger involves Old Point and its subsidiary, Old Point National Bank, merging with TowneBank [1]. - The deadline for Old Point common stockholders to elect their preferred form of consideration is set for 5:00 p.m. Eastern Time on August 26, 2025 [2]. - Stockholders can choose to receive either $41.00 in cash, 1.14 shares of TowneBank common stock, or a combination of both for each share of Old Point common stock [3]. Group 2: Election Process - To make a valid election, stockholders must submit a completed election form and any required documents to Computershare Trust Company, N.A. before the election deadline [4]. - Stockholders who do not make a proper election by the deadline will have no control over the type of consideration they receive, which may include cash, shares of TowneBank common stock, or a combination thereof [5]. Group 3: Company Background - TowneBank, founded in 1999, offers a full range of banking and financial services, with total assets of $18.26 billion as of June 30, 2025, making it one of the largest banks headquartered in Virginia [10]. - Old Point Financial Corporation operates through The Old Point National Bank of Phoebus and offers a variety of retail and commercial financial services, including mortgage and insurance products [11].