** 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))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.