Old Point National Bank To Become Sole Owner Of Mortgage Company

1/26/17

Hampton-based Old Point National Bank plans to become the sole owner of Old Point Mortgage.

The bank, which currently owns 49 percent of Old Point Mortgage, has entered into an agreement to buy the majority interest from Tidewater Mortgage Services Inc.

Financial details were not released.

The transaction, which is subject to customary due-diligence and regulatory approvals, is expected to close on or before May 1.

Old Point National Bank and Tidewater Mortgage began their partnership in 2007.

READ FULL ARTICLE HERE

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.