Old Point Releases First Quarter 2021 Results
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HAMPTON, Va., April 27, 2021 /PRNewswire/ Old Point Financial Corporation (the Company or Old Point) (NASDAQ OPOF ) reported net income of $3.0 million, which represents an increase of $1.8 million, or 141%, as compared to net income of $1.3 million for the first quarter of 2020. Earnings per diluted common share was $0.58 and $0.24 for the quarters ended March 31, 2021 and 2020, respectively.
Robert Shuford, Jr., Chairman, President, and CEO of the Company and Old Point National Bank (the Bank) said, Old Point is pleased to report a solid first quarter performance as we, along with our surrounding communities, begin to emerge from the unprecedented uncertainties of 2020. In the first quarter of 2021, we began to experience lift from the strategic initiates executed in late 2020, funded over 300 second-round PPP loans in addition to successfully navigating the first-ro