old point financial corp (OPOF) Snapshot

Old Point Financial Corporation reported consolidated unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total interest and dividend income was $7,629,000 against $8,422,000 a year ago. Net interest income was $6,374,000 against $6,911,000 a year ago. Income before income taxes was $1,062,000 against $1,429,000 a year ago. Net income was $901,000 or $0.18 basic per share against $1,078,000 or $0.22 basic per share a year ago.

Old Point Financial Corporation, Annual General Meeting, May 28, 2013., at 18:00 US Eastern Standard Time. Location: The Hampton Roads Convention Center, 1610 Coliseum Drive. Agenda: To elect 15 directors to the board of directors of the company to serve until the 2014 annual meeting of stockholders; to approve, in an advisory, non-binding vote, the compensation of the company's named executive officers; to recommend, in an advisory, non-binding vote, the frequency of future advisory votes on executive compensation; to ratify the appointment of Yount, Hyde & Barbour, P.C. as the company's independent registered public accounting firm for the fiscal year ending December 31, 2013; and to transact such other business as may properly come before the meeting or any adjournment thereof.

Old Point Financial Corporation announced unaudited consolidated earnings results for the year ended December 31, 2012. For the year, the company announced total interest and dividend income of $32,580,000 compared to $36,251,000 for the same period a year ago. Net interest income was $26,806,000 compared to $29,536,000 for the same period a year ago. Income before income taxes was $5,182,000 compared to $4,353,000 for the same period a year ago. Net income was $4,187,000 compared to $3,290,000 for the same period a year ago. Net income per share of common stock, basic and diluted was $0.84 compared to $0.66 for the same period a year ago. The increase in net income was due to an increase in realized gains on available-for-sale securities, from $787,000 in 2011 to $2.3 million in 2012. A $1.3 million reduction in the provision for loan losses when comparing 2011 and 2012, also contributed to the increase in net income.