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): October 14, 1997
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 (757) 728-1200
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Item 5. Other Events
Old Point Financial Corportion issued the following press
release:
PRESS RELEASE
OCTOBER 14, 1997
OLD POINT FINANCIAL CORPORATION DECLARES 100% STOCK DIVIDEND
Hampton, Virginia
The Board of Directors of Old Point Financial Corporation
today declared a 100% stock dividend of the Company's common stock.
Shareholders of record Friday October 17, 1997 will receive one
additional share for each share owned of Old Point Financial
Corporation stock owned as of the record date. The dividend shares
will be delivered as of November 4, 1997. This date is the 75th
anniversary of the chartering of The Old Point National Bank of
Phoebus the wholly owned subsidiary of Old Point Financial
Corporation.
Old Point Financial Corporation presently has 1,283,086 shares
outstanding. This will increase the outstanding shares to
2,566,172 after the stock dividend.
Old Point Financial Corporation is a one bank holding company
which owns The Old Point National Bank of Phoebus and serves
Hampton, Newport News, Williamsburg, James City County, York County
and Poquoson and had total assets of $342.9 million as of September
30, 1997.
This follows a third quarter earnings report stating that
earnings for the quarter were up 25% to a quarter record of
$1,046,000, with year to date earnings up 12.9% for the first nine
months to $2,883,000.
By: /s/ Robert F. Shuford
R. F. Shuford, Chairman & President
