Old Point Financial Corporation (OPOF) Income Statement Analysis

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Complete financial analysis of Old Point Financial Corporation (OPOF) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Old Point Financial Corporation, a leading company in the Banks – Regional industry within the Financial Services sector.

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Old Point Financial Corporation (OPOF)

Industry: Banks - Regional

Sector: Financial Services

Website: https://oldpoint.com

About Old Point Financial Corporation

Old Point Financial Corporation operates as the bank holding company for The Old Point National Bank of Phoebus that provides consumer, mortgage, and business banking services for individual and commercial customers in Virginia. The company offers deposit products, including interest-bearing transaction accounts, money market deposit accounts, savings accounts, time deposits, and demand deposits. It also provides real estate construction, commercial, and mortgage loans, such as residential 1-4 family mortgages, multi-family and second mortgages, and equity lines of credit; and other loans, as well as cash management services. In addition, the company offers retirement planning, estate planning, financial planning, estate and trust administration, retirement plan administration, tax, and investment management services; and insurance products and wealth management services. It operates 14 branches in the Hampton Roads localities of Hampton, Newport News, Norfolk, Virginia Beach, Chesapeake, Williamsburg/James City County, York County, and Isle of Wight County; a loan production office in Richmond, Virginia; and a mortgage loan origination office in Charlotte, North Carolina. The company was founded in 1922 and is headquartered in Hampton, Virginia.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996	1995	1994	1993	1992
Revenue	59.47M	55.72M	53.68M	48.50M	47.90M	46.56M	43.43M	40.33M	39.80M	39.08M	37.92M	41.77M	41.73M	43.55M	39.97M	40.22M	38.16M	36.02M	34.53M	33.81M	30.99M	29.30M	25.49M	22.62M	21.01M	5.56M	4.87M	4.74M	4.67M	4.19M	4.27M	6.35M
Cost of Revenue	-3.02M	3.73M	3.63M	3.37M	2.65M	2.49M	2.77M	2.36M	1.62M	2.04M	0.00	0.00	0.00	1.83M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	62.49M	51.99M	50.05M	45.13M	45.24M	44.07M	40.66M	37.97M	38.18M	37.04M	37.92M	41.77M	41.73M	41.72M	39.97M	40.22M	38.16M	36.02M	34.53M	33.81M	30.99M	29.30M	25.49M	22.62M	21.01M	5.56M	4.87M	4.74M	4.67M	4.19M	4.27M	6.35M
Gross Profit Ratio	105.08%	93.31%	93.24%	93.05%	94.46%	94.66%	93.63%	94.16%	95.94%	94.78%	100.00%	100.00%	100.00%	95.81%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	31.43M	28.05M	26.08M	26.17M	24.82M	24.03M	25.49M	21.31M	22.67M	22.20M	21.36M	22.46M	23.43M	23.41M	22.53M	17.04M	15.93M	15.19M	14.38M	13.20M	12.11M	11.08M	10.12M	9.34M	8.68M	7.80M	7.67M	7.41M	7.18M	7.05M	6.81M	5.95M
Selling & Marketing	13.11M	473.00K	370.00K	381.00K	552.00K	611.00K	575.00K	612.00K	584.00K	822.00K	809.00K	758.00K	1.36M	1.49M	1.42M	773.00K	724.00K	775.00K	748.00K	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	44.54M	28.05M	26.08M	26.17M	24.82M	24.03M	25.49M	21.31M	22.67M	22.20M	21.36M	22.46M	24.78M	24.90M	23.94M	17.81M	16.66M	15.97M	15.13M	13.20M	12.11M	11.08M	10.12M	9.34M	8.68M	7.80M	7.67M	7.41M	7.18M	7.05M	6.81M	5.95M
Other Expenses	0.00	-13.03M	-70.02M	-68.76M	-63.77M	-62.56M	-8.33M	-7.91M	0.00	0.00	-59.06M	-63.72M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-46.67M	-23.06M	-19.11M	-12.01M	-8.91M	-9.79M	5.52M	3.67M	2.71M	822.00K	297.00K	-454.00K	-193.00K
Operating Expenses	44.54M	43.58M	-43.94M	-42.59M	-38.96M	-35.99M	30.02M	26.87M	28.23M	28.07M	-37.70M	-41.26M	448.00K	654.00K	619.00K	773.00K	724.00K	775.00K	748.00K	-33.47M	-10.95M	-8.04M	-1.89M	425.00K	-1.11M	13.31M	11.34M	10.11M	8.00M	7.35M	6.35M	5.76M
Cost & Expenses	44.54M	47.31M	-43.94M	-42.59M	-38.96M	-35.99M	32.78M	29.23M	29.84M	30.11M	-37.70M	-41.26M	448.00K	2.48M	619.00K	773.00K	724.00K	775.00K	748.00K	-33.47M	-10.95M	-8.04M	-1.89M	425.00K	-1.11M	13.31M	11.34M	10.11M	8.00M	7.35M	6.35M	5.76M
Interest Income	66.30M	47.96M	42.18M	39.88M	40.02M	37.97M	32.78M	29.71M	30.16M	30.16M	29.73M	32.48M	36.19M	40.84M	41.26M	46.50M	49.02M	44.89M	36.49M	33.64M	33.17M	34.11M	35.11M	33.64M	29.48M	27.81M	25.24M	23.38M	21.53M	19.23M	19.11M	20.99M
Interest Expense	18.43M	3.61M	3.46M	5.29M	6.42M	4.97M	3.01M	2.57M	3.63M	3.85M	4.68M	5.77M	6.72M	9.98M	14.32M	19.01M	23.35M	20.28M	12.32M	9.25M	9.64M	11.96M	16.16M	16.71M	13.86M	12.70M	10.68M	10.09M	9.53M	7.63M	7.74M	10.00M
Depreciation & Amortization	2.58M	2.42M	2.44M	2.53M	2.54M	2.47M	2.74M	2.73M	2.54M	2.28M	1.95M	1.88M	1.82M	1.94M	1.85M	1.77M	1.69M	1.54M	1.39M	1.30M	1.37M	1.44M	1.48M	1.38M	1.25M	990.00K	941.00K	883.00K	768.00K	884.00K	919.00K	704.00K
EBITDA	0.00	730.00K	358.00K	219.00K	235.00K	151.00K	151.00K	597.00K	453.00K	180.00K	214.00K	0.00	6.17M	3.64M	7.19M	11.21M	12.82M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA Ratio	0.00%	25.46%	22.68%	17.39%	23.97%	27.14%	12.96%	22.95%	24.78%	26.71%	26.75%	30.74%	30.87%	31.27%	45.21%	75.13%	94.80%	87.31%	68.36%	66.07%	69.08%	77.48%	98.36%	107.96%	100.67%	357.18%	351.93%	332.14%	287.75%	296.58%	270.22%	201.78%
Operating Income	14.93M	11.76M	9.74M	5.91M	8.94M	10.17M	151.00K	597.00K	453.00K	180.00K	214.00K	506.00K	325.00K	449.00K	401.00K	236.00K	486.00K	539.00K	522.00K	346.00K	20.04M	21.26M	23.60M	23.05M	19.90M	18.87M	16.21M	14.85M	12.67M	11.53M	10.63M	12.11M
Operating Income Ratio	25.10%	21.11%	18.14%	12.19%	18.67%	21.84%	0.35%	1.48%	1.14%	0.46%	0.56%	1.21%	0.78%	1.03%	1.00%	0.59%	1.27%	1.50%	1.51%	1.02%	64.66%	72.57%	92.57%	101.88%	94.73%	339.38%	332.62%	313.49%	271.31%	275.47%	248.71%	190.70%
Total Other Income/Expenses	-5.87M	-5.11M	9.38M	-5.43M	8.71M	-4.92M	-2.74M	-4.37M	-4.80M	-4.12M	-4.63M	4.68M	-2.14M	-2.39M	-5.70M	-2.00M	-2.17M	0.00	0.00	0.00	-9.64M	-11.96M	-16.16M	-16.71M	-13.86M	-12.70M	-10.68M	-10.09M	-9.53M	-7.63M	-7.74M	-10.00M
Income Before Tax	9.06M	10.58M	9.74M	5.91M	8.94M	5.20M	-126.00K	3.75M	3.69M	4.31M	3.51M	5.18M	4.35M	1.70M	1.89M	9.44M	11.14M	9.63M	9.90M	11.79M	10.40M	9.31M	7.44M	6.34M	6.04M	6.17M	5.53M	4.75M	3.14M	3.91M	2.88M	2.11M
Income Before Tax Ratio	15.24%	18.99%	18.14%	12.19%	18.67%	11.16%	-0.29%	9.30%	9.27%	11.03%	9.26%	12.41%	10.43%	3.89%	4.74%	23.48%	29.18%	26.75%	28.66%	34.87%	33.54%	31.77%	29.20%	28.03%	28.74%	111.01%	113.48%	100.38%	67.22%	93.36%	67.46%	33.28%
Income Tax Expense	1.33M	1.47M	1.30M	521.00K	1.08M	279.00K	-97.00K	82.00K	54.00K	196.00K	348.00K	995.00K	1.06M	149.00K	211.00K	2.65M	3.17M	2.61M	2.63M	3.21M	2.57M	2.26M	1.73M	1.21M	1.22M	1.54M	1.44M	1.31M	797.00K	1.14M	667.00K	376.00K
Net Income	7.73M	9.11M	8.44M	5.39M	7.86M	4.92M	-29.00K	3.67M	3.63M	4.12M	3.16M	4.19M	3.29M	1.55M	1.68M	6.79M	7.97M	7.02M	7.27M	8.58M	7.83M	7.05M	5.71M	5.13M	4.82M	4.64M	4.09M	3.45M	2.34M	2.77M	2.22M	1.74M
Net Income Ratio	13.00%	16.35%	15.72%	11.11%	16.41%	10.57%	-0.07%	9.10%	9.13%	10.53%	8.34%	10.03%	7.88%	3.55%	4.21%	16.88%	20.88%	19.50%	21.05%	25.38%	25.25%	24.07%	22.40%	22.69%	22.95%	83.37%	83.91%	72.74%	50.15%	66.23%	51.85%	27.36%
EPS	1.54	1.80	1.61	1.03	1.51	0.96	-0.01	0.77	0.73	0.83	0.64	0.84	0.66	0.31	0.34	1.39	1.61	1.41	1.45	1.72	1.58	1.44	1.18	1.06	1.00	0.96	0.85	1.45	0.98	1.17	0.94	0.75
EPS Diluted	1.54	1.80	1.61	1.03	1.51	0.96	-0.01	0.77	0.73	0.83	0.64	0.84	0.66	0.31	0.34	1.38	1.59	1.39	1.42	1.68	1.54	1.42	1.17	1.06	0.99	0.95	0.85	1.45	0.98	1.17	0.94	0.75
Weighted Avg Shares Out	5.03M	5.07M	5.24M	5.22M	5.20M	5.14M	4.99M	4.96M	4.96M	4.96M	4.96M	4.96M	4.95M	4.93M	4.91M	4.90M	4.96M	4.99M	5.02M	5.00M	4.95M	4.89M	4.86M	4.86M	4.84M	4.82M	4.80M	2.39M	2.39M	2.36M	2.34M	2.31M
Weighted Avg Shares Out (Dil)	5.03M	5.07M	5.24M	5.22M	5.20M	5.14M	4.99M	4.96M	4.96M	4.96M	4.96M	4.96M	4.95M	4.93M	4.94M	4.94M	5.00M	5.06M	5.12M	5.11M	5.10M	4.99M	4.90M	4.94M	4.85M	4.87M	4.83M	2.39M	2.39M	2.36M	2.34M	2.31M

Old Point Announces Completion of $30 Million Subordinated Notes Offering

July 15, 2021prnewswire.com

HAMPTON, Va., July 15, 2021 /PRNewswire/ -- Old Point Financial Corporation (the Company) announced the completion of its private placement of $30 million of 3.50% Fixed to Floating Rate Subordinated Notes due 2031 (the Notes) to certain qualified institutional buyers...

Old Point Financial Corporation Declares Quarterly Dividend

May 20, 2021prnewswire.com

HAMPTON, Va., May 20, 2021 /PRNewswire/ -- Old Point Financial Corporation declared a quarterly cash dividend of $0.12 per share on its common stock to be paid on June 25, 2021 to shareholders of record as of June 2, 2021.

Old Point Releases First Quarter 2021 Results

April 27, 2021prnewswire.com

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...