SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 25, 1995
OLD POINT FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Virginia 0-12896 54-1265373
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization File Number) Identification No.)
1 West Mellen Street, Hampton, Virginia 23663
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (804) 728-1200
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Item 5. Other Events
At its annual stockholders' meeting on April 25, 1995, the
stockholders of Old Point Financial Corporation (Corporation)
approved an amendment to paragraph A, Article III of the
Corporation's Articles of Incorporation as follows:
A. General Authorization. The Corporation shall have the authority
to issue 6,000,000 shares of Common Stock, par value $5.00 per
share.
The purpose of the Amendment is to increase the Corporation's
authorized shares of common stock from 3,000,000 to 6,000,000. Of
the shares currently authorized, 1,273,537 shares were outstanding
as of March 14, 1995. The Amendment will provide an ample reservoir
of authorized shares for future flexibility to raise capital, as
needed, to fund stock dividends, to fund future stock option plans
for employees and management, to fund any future affiliations or
acquisitions, and for general corporate purposes. The Board of
Directors has no present plans to issue additional shares of common
stock.
Approval of the Amendment to the Corporation's Articles of
Incorporation required the affirmative vote of the holders of more
than two-thirds of the Corporations' outstanding shares of common
stock. 1,122,471 outstanding shares of common stock were entitled to
vote on the matter. The number of shares cast FOR the amendment was
895,493. The number of shares cast AGAINST the amendment was 71,787.
The number of shares ABSTAINING from voting on the amendment was 9,311.
Accordingly, a sufficient number of the outstanding shares entitled
to vote on the matter approved the amendment.
* * * * *
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Old Point Financial Corporation
Dated: May 2, 1995 By: /s/Robert F. Shuford
Robert F. Shuford
Chairman of the Board,
President & CEO
