** Community bank Old Point Financial's
** Regional lender TowneBank's TOWN.O shares fall 6.5% to $31.70
** Virginia-based TowneBank will acquire Old Point Financial in a $203 million deal, the companies say
** Deal will boost TowneBank's EPS by about 10%, companies say
** Transaction will create a combined bank with $19.5 billion in assets and bolster TOWN's presence in Hampton Roads area
** OPOF shareholders can choose to receive either $41 in cash or 1.14 shares of TOWN for each OPOF share
** Piper Sandler advised TOWN, while Keefe, Bruyette & Woods advised OPOF
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com))
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