Old Point Financial Corporation - Common Stock (OPOF)

Competitors to Old Point Financial Corporation - Common Stock (OPOF)

Atlantic Union Bankshares Corporation

Atlantic Union Bankshares operates a larger network of branches and offers a broader range of financial products, from personal banking to investment services. Their established footprint in the region enables them to dominate key markets and client segments, which poses significant competition for Old Point Financial. The scale and resources of Atlantic Union give it a strong competitive advantage in terms of both marketing and product offerings.

Bank of Virginia

Bank of Virginia offers similar community banking services, including personal and commercial loans, mortgages, and deposit accounts. The two banks aim to attract the same client base, particularly local residents and small businesses, by emphasizing personalized service. Competition is particularly fierce in the areas of interest rates and customer-service offerings, with both banks trying to differentiate themselves through robust community engagement and tailored financial solutions.

Cardinal Bank

Cardinal Bank competes with Old Point Financial by offering similar banking products and services, but with a stronger emphasis on digital banking solutions. By providing cutting-edge online banking tools, Cardinal Bank attracts a tech-savvy customer base, presenting challenges to Old Point Financial as it adapts to changing customer preferences. The tech-forward approach gives Cardinal Bank a competitive edge among younger consumers.

TowneBank 

TowneBank is a larger community bank that provides a wide array of financial services including business banking, mortgages, and wealth management. While Old Point Financial focuses on serving local markets, TowneBank leverages its size and resources to offer more diversified products and competitive pricing. This gives TowneBank a significant competitive advantage in terms of reach and brand recognition within the region.