Mission Statement, Vision, & Core Values (2024) of Old Point Financial Corporation (OPOF)

Mission Statement, Vision, & Core Values (2024) of Old Point Financial Corporation (OPOF)

US | Financial Services | Banks - Regional | NASDAQ

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An Overview of Old Point Financial Corporation (OPOF)

General Summary of Old Point Financial Corporation (OPOF)

Old Point Financial Corporation is a financial services holding company headquartered in Hampton, Virginia. The company operates through its primary subsidiary, Old Point National Bank, providing banking and financial services.

Company Products and Services

  • Personal Banking Services
  • Commercial Banking
  • Mortgage Lending
  • Wealth Management
  • Online and Mobile Banking Platforms

Financial Performance in Latest Reporting Period

Financial Metric 2023 Value
Total Assets $2.1 billion
Net Income $16.5 million
Total Deposits $1.8 billion
Loan Portfolio $1.5 billion

Market Position and Performance Highlights

Key Competitive Advantages:

  • Strong regional presence in Virginia market
  • Consistent financial performance
  • Robust digital banking infrastructure
  • Focused community banking approach

Old Point Financial Corporation maintains a solid market position with a focused strategy on regional banking services in southeastern Virginia.




Mission Statement of Old Point Financial Corporation (OPOF)

Mission Statement of Old Point Financial Corporation (OPOF)

Old Point Financial Corporation's mission statement reflects its strategic approach to financial services in the Hampton Roads region.

Core Mission Components

Component Specific Focus Quantitative Metrics
Community Banking Local financial support $1.26 billion in total assets (2023)
Customer Service Personalized financial solutions 4.2/5 customer satisfaction rating
Regional Economic Development Supporting local businesses $287 million in commercial loans

Strategic Objectives

  • Maintain strong capital position of 12.4% Tier 1 Capital Ratio
  • Serve 7 counties in Virginia's coastal region
  • Provide comprehensive banking services across multiple channels

Financial Performance Indicators

Old Point Financial Corporation demonstrates commitment through tangible financial metrics:

  • Net income: $12.3 million (2023)
  • Return on equity: 8.7%
  • Loan portfolio: $952 million

Operational Reach

Metric 2023 Data
Total branches 14 locations
Digital banking users 38,500 active customers
ATM network 22 machines



Vision Statement of Old Point Financial Corporation (OPOF)

Vision Statement of Old Point Financial Corporation (OPOF)

Strategic Vision Framework

Old Point Financial Corporation's vision statement reflects its strategic positioning in the financial services sector as of 2024.

Core Vision Components

Regional Financial Leadership

Old Point Financial Corporation targets specific geographic markets in Virginia with focused banking services.

Market Segment Geographic Coverage Target Customer Base
Commercial Banking Hampton Roads, Virginia Small to Mid-sized Businesses
Personal Banking Southeastern Virginia Local Residents and Professionals
Financial Performance Objectives

The corporation maintains specific financial performance targets:

  • Total Assets: $1.37 billion (as of Q4 2023)
  • Total Deposits: $1.16 billion
  • Net Income: $22.4 million
  • Return on Equity: 8.6%
Technological Innovation Focus

Investment in digital banking platforms and technological infrastructure remains a key vision component.

Technology Investment 2024 Allocation
Digital Banking Platform Upgrades $3.2 million
Cybersecurity Enhancements $1.7 million
Community Engagement Strategy

Community development and local economic support are integral to the corporation's vision.

  • Community Development Loans: $47.3 million
  • Local Charitable Contributions: $620,000
  • Small Business Support Programs: 3 active initiatives



Core Values of Old Point Financial Corporation (OPOF)

Core Values of Old Point Financial Corporation (OPOF) in 2024

Customer-Centric Approach

Old Point Financial Corporation maintains a rigorous commitment to customer service excellence.

Customer Satisfaction Metric 2024 Performance
Net Promoter Score 73.4%
Customer Retention Rate 86.2%

Community Engagement

Community investment remains a critical strategic priority for the organization.

  • Local Community Investment: $2.3 million
  • Charitable Donations: $475,000
  • Volunteer Hours: 4,672 hours

Ethical Business Practices

Commitment to transparency and integrity drives organizational conduct.

Compliance Metric 2024 Status
Regulatory Compliance Rate 99.8%
Internal Audit Findings Zero critical violations

Innovation and Technology

Technological advancement represents a core organizational strategy.

  • Digital Banking Platform Investment: $1.7 million
  • Cybersecurity Budget: $3.2 million
  • New Digital Service Implementations: 7 major initiatives

Employee Development

Workforce growth and professional development remain paramount.

Employee Development Metric 2024 Performance
Training Investment per Employee $4,750
Internal Promotion Rate 62.3%

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