• |
Total assets were $1.3 billion at December 31, 2021, growing $111.7 million or 9.1% from December 31, 2020.
|
• |
Net loans grew $6.9 million from December 31, 2020. PPP loans outstanding at December 31, 2021 were $19.0 million compared to $86.0 million at December 31, 2020. Net loans held for investment, excluding PPP (non-GAAP), grew $74.2 million, or 9.9%, from December 31, 2020 to December 31, 2021.
|
• |
Deposits grew $109.9 million to $1.2 billion at December 31, 2021 from December 31, 2020.
|
• |
Non-performing assets (NPAs) decreased to $1.5 million at December 31, 2021 compared to $2.0 million at December 31, 2020. NPAs as a percentage of total assets was 0.11% at December 31, 2021, which compared to 0.16% at December 31, 2020.
|
• |
Average earning assets for the year ended December 31, 2021 grew $104.5 million, or 9.6%, to $1.2 billion compared to $1.1 billion for the year ended December 31, 2020.
|
• |
Book value per share at December 31, 2021 increased 3.1% over December 31, 2020. Tangible book value per share (non-GAAP) increased 3.2% over the same period.
|
• |
Net interest income was $9.7 million for the fourth quarter of 2021, decreasing from $9.9 million for the prior quarter and increasing from $9.4 million for the fourth quarter of 2020.
|
• |
Net income improved to $1.7 million for the fourth quarter of 2021 from $545 thousand for the 2020 comparative quarter but decreased $230 thousand from the third quarter of 2021.
|
Old Point Financial Corporation and Subsidiaries
| ||||||||
Consolidated Balance Sheets
|
December 31,
|
December 31,
| ||||||
(dollars in thousands, except share data)
|
2021
|
2020
| ||||||
(unaudited)
| ||||||||
Assets
| ||||||||
Cash and due from banks
|
$
|
13,154
|
$
|
21,799
| ||||
Interest-bearing due from banks
|
164,073
|
98,633
| ||||||
Federal funds sold
|
10,425
|
5
| ||||||
Cash and cash equivalents
|
187,652
|
120,437
| ||||||
Securities available-for-sale, at fair value
|
234,321
|
186,409
| ||||||
Restricted securities, at cost
|
1,034
|
1,367
| ||||||
Loans held for sale
|
3,287
|
14,413
| ||||||
Loans, net
|
833,661
|
826,759
| ||||||
Premises and equipment, net
|
32,134
|
33,613
| ||||||
Premises and equipment, held for sale
|
871
|
-
| ||||||
Bank-owned life insurance
|
28,168
|
28,386
| ||||||
Goodwill
|
1,650
|
1,650
| ||||||
Core deposit intangible, net
|
275
|
319
| ||||||
Other assets
|
14,832
|
12,838
| ||||||
Total assets
|
$
|
1,337,885
|
$
|
1,226,191
| ||||
Liabilities & Stockholders' Equity
| ||||||||
Deposits:
| ||||||||
Noninterest-bearing deposits
|
$
|
421,531
|
$
|
360,602
| ||||
Savings deposits
|
586,450
|
512,936
| ||||||
Time deposits
|
169,118
|
193,698
| ||||||
Total deposits
|
1,177,099
|
1,067,236
| ||||||
Overnight repurchase agreements
|
4,536
|
6,619
| ||||||
Federal Reserve Bank borrowings
|
480
|
28,550
| ||||||
Long term borrowings
|
29,407
|
1,350
| ||||||
Accrued expenses and other liabilities
|
5,545
|
5,291
| ||||||
Total liabilities
|
1,217,067
|
1,109,046
| ||||||
Stockholders' equity:
| ||||||||
Common stock, $5 par value, 10,000,000 shares authorized; 5,239,707 and 5,224,019 shares outstanding (includes 38,435 and 29,576 of nonvested restricted stock, respectively)
|
26,006
|
25,972
| ||||||
Additional paid-in capital
|
21,458
|
21,245
| ||||||
Retained earnings
|
71,679
|
65,859
| ||||||
Accumulated other comprehensive income, net
|
1,675
|
4,069
| ||||||
Total stockholders' equity
|
120,818
|
117,145
| ||||||
Total liabilities and stockholders' equity
|
$
|
1,337,885
|
$
|
1,226,191
|
Consolidated Statements of Income (unaudited)
|
Three Months Ended
|
Years Ended
| ||||||||||||||||||
(dollars in thousands, except per share data)
|
Dec. 31, 2021
|
Sep. 30, 2021
|
Dec. 31, 2020
|
Dec. 31, 2021
|
Dec. 31, 2020
| |||||||||||||||
Interest and Dividend Income:
| ||||||||||||||||||||
Loans, including fees
|
$
|
9,452
|
$
|
9,692
|
$
|
9,473
|
$
|
37,912
|
$
|
36,012
| ||||||||||
Due from banks
|
67
|
68
|
43
|
230
|
267
| |||||||||||||||
Federal funds sold
|
3
|
-
|
-
|
3
|
12
| |||||||||||||||
Securities:
| ||||||||||||||||||||
Taxable
|
870
|
853
|
772
|
3,284
|
3,068
| |||||||||||||||
Tax-exempt
|
195
|
186
|
152
|
753
|
516
| |||||||||||||||
Dividends and interest on all other securities
|
13
|
16
|
(2
|
)
|
70
|
134
| ||||||||||||||
Total interest and dividend income
|
10,600
|
10,815
|
10,438
|
42,252
|
40,009
| |||||||||||||||
Interest Expense:
| ||||||||||||||||||||
Checking and savings deposits
|
245
|
243
|
204
|
938
|
1,080
| |||||||||||||||
Time deposits
|
405
|
441
|
691
|
1,941
|
3,337
| |||||||||||||||
Federal funds purchased, securities sold under
| ||||||||||||||||||||
agreements to repurchase and other borrowings
|
2
|
3
|
44
|
35
|
150
| |||||||||||||||
Long term borrowings
|
292
|
252
|
-
|
544
|
-
| |||||||||||||||
Federal Home Loan Bank advances
|
-
|
-
|
141
|
-
|
725
| |||||||||||||||
Total interest expense
|
944
|
939
|
1,080
|
3,458
|
5,292
| |||||||||||||||
Net interest income
|
9,656
|
9,876
|
9,358
|
38,794
|
34,717
| |||||||||||||||
Provision for loan losses
|
284
|
360
|
100
|
794
|
1,000
| |||||||||||||||
Net interest income after provision for loan losses
|
9,372
|
9,516
|
9,258
|
38,000
|
33,717
| |||||||||||||||
Noninterest Income:
| ||||||||||||||||||||
Fiduciary and asset management fees
|
1,088
|
1,032
|
996
|
4,198
|
3,877
| |||||||||||||||
Service charges on deposit accounts
|
747
|
731
|
696
|
2,866
|
2,872
| |||||||||||||||
Other service charges, commissions and fees
|
1,016
|
1,085
|
984
|
4,169
|
4,028
| |||||||||||||||
Bank-owned life insurance income
|
389
|
195
|
209
|
1,014
|
839
| |||||||||||||||
Mortgage banking income
|
251
|
460
|
761
|
2,280
|
1,781
| |||||||||||||||
Gain on sale of available-for-sale securities, net
|
-
|
-
|
79
|
-
|
264
| |||||||||||||||
Gain on sale of fixed assets
|
-
|
-
|
-
|
-
|
818
| |||||||||||||||
Other operating income
|
116
|
103
|
80
|
358
|
219
| |||||||||||||||
Total noninterest income
|
3,607
|
3,606
|
3,805
|
14,885
|
14,698
| |||||||||||||||
Noninterest Expense:
| ||||||||||||||||||||
Salaries and employee benefits
|
6,349
|
6,558
|
7,394
|
25,361
|
25,512
| |||||||||||||||
Occupancy and equipment
|
1,184
|
1,185
|
1,165
|
4,694
|
4,852
| |||||||||||||||
Data processing
|
1,130
|
1,187
|
909
|
4,557
|
3,478
| |||||||||||||||
Customer development
|
145
|
78
|
114
|
370
|
381
| |||||||||||||||
Professional services
|
731
|
625
|
664
|
2,521
|
2,196
| |||||||||||||||
Employee professional development
|
232
|
154
|
145
|
719
|
658
| |||||||||||||||
Other taxes
|
186
|
186
|
191
|
794
|
661
| |||||||||||||||
ATM and other losses
|
280
|
68
|
638
|
504
|
871
| |||||||||||||||
Loss on extinguishment of borrowings
|
-
|
-
|
490
|
-
|
490
| |||||||||||||||
(Gain) on other real estate owned
|
-
|
-
|
(40
|
)
|
-
|
(62
|
)
| |||||||||||||
Loss on sale of loans
|
-
|
-
|
99
|
-
|
99
| |||||||||||||||
Other operating expenses
|
891
|
887
|
838
|
3,629
|
3,369
| |||||||||||||||
Total noninterest expense
|
11,128
|
10,928
|
12,607
|
43,149
|
42,505
| |||||||||||||||
Income before income taxes
|
1,851
|
2,194
|
456
|
9,736
|
5,910
| |||||||||||||||
Income tax expense (benefit)
|
173
|
286
|
(89
|
)
|
1,296
|
521
| ||||||||||||||
Net income
|
$
|
1,678
|
$
|
1,908
|
$
|
545
|
$
|
8,440
|
$
|
5,389
|
Basic Earnings per Share:
| ||||||||||||||||||||
Weighted average shares outstanding
|
5,245,939
|
5,245,042
|
5,222,953
|
5,238,318
|
5,216,237
| |||||||||||||||
Net income per share of common stock
|
$
|
0.32
|
$
|
0.36
|
$
|
0.10
|
$
|
1.61
|
$
|
1.03
| ||||||||||
Diluted Earnings per Share:
| ||||||||||||||||||||
Weighted average shares outstanding
|
5,245,942
|
5,245,172
|
5,222,953
|
5,238,352
|
5,216,441
| |||||||||||||||
Net income per share of common stock
|
$
|
0.32
|
$
|
0.36
|
$
|
0.10
|
$
|
1.61
|
$
|
1.03
| ||||||||||
Cash Dividends Declared per Share:
|
$
|
0.13
|
$
|
0.13
|
$
|
0.12
|
$
|
0.50
|
$
|
0.48
|
For the quarters ended December 31,
| ||||||||||||||||||||||||
(unaudited)
|
2021
|
2020
| ||||||||||||||||||||||
(dollars in thousands)
|
Average
Balance
|
Interest
Income/
Expense
|
Yield/
Rate**
|
Average
Balance
|
Interest
Income/
Expense
|
Yield/
Rate**
| ||||||||||||||||||
ASSETS | ||||||||||||||||||||||||
Loans*
|
$
|
861,454
|
$
|
9,464
|
4.36
|
%
|
$
|
878,688
|
$
|
9,485
|
4.29
|
%
| ||||||||||||
Investment securities:
| ||||||||||||||||||||||||
Taxable
|
188,085
|
870
|
1.84
|
%
|
154,810
|
772
|
1.98
|
%
| ||||||||||||||||
Tax-exempt*
|
33,825
|
247
|
2.89
|
%
|
23,138
|
194
|
3.33
|
%
| ||||||||||||||||
Total investment securities
|
221,910
|
1,117
|
2.00
|
%
|
177,948
|
966
|
2.16
|
%
| ||||||||||||||||
Interest-bearing due from banks
|
152,289
|
67
|
0.17
|
%
|
119,100
|
43
|
0.14
|
%
| ||||||||||||||||
Federal funds sold
|
9,667
|
3
|
0.09
|
%
|
5
|
-
|
0.03
|
%
| ||||||||||||||||
Other investments
|
1,033
|
13
|
5.42
|
%
|
2,838
|
(2
|
)
|
-0.20
|
%
| |||||||||||||||
Total earning assets
|
1,246,353
|
$
|
10,664
|
3.39
|
%
|
1,178,579
|
$
|
10,492
|
3.54
|
%
| ||||||||||||||
Allowance for loan losses
|
(9,732
|
)
|
(9,890
|
)
| ||||||||||||||||||||
Other non-earning assets
|
93,351
|
96,805
| ||||||||||||||||||||||
Total assets
|
$
|
1,329,972
|
$
|
1,265,494
| ||||||||||||||||||||
LIABILITIES AND STOCKHOLDERS' EQUITY
| ||||||||||||||||||||||||
Time and savings deposits:
| ||||||||||||||||||||||||
Interest-bearing transaction accounts
|
$
|
76,600
|
$
|
3
|
0.02
|
%
|
$
|
62,855
|
$
|
3
|
0.02
|
%
| ||||||||||||
Money market deposit accounts
|
388,849
|
230
|
0.23
|
%
|
327,740
|
190
|
0.23
|
%
| ||||||||||||||||
Savings accounts
|
118,920
|
12
|
0.04
|
%
|
104,617
|
11
|
0.04
|
%
| ||||||||||||||||
Time deposits
|
170,523
|
405
|
0.94
|
%
|
198,331
|
691
|
1.39
|
%
| ||||||||||||||||
Total time and savings deposits
|
754,892
|
650
|
0.34
|
%
|
693,543
|
895
|
0.51
|
%
| ||||||||||||||||
Federal funds purchased, repurchase
| ||||||||||||||||||||||||
agreements and other borrowings
|
5,380
|
2
|
0.13
|
%
|
43,916
|
44
|
0.40
|
%
| ||||||||||||||||
Long term borrowings
|
29,386
|
292
|
3.95
|
%
|
-
|
-
|
0.00
|
%
| ||||||||||||||||
Federal Home Loan Bank advances
|
-
|
-
|
0.00
|
%
|
34,609
|
141
|
1.62
|
%
| ||||||||||||||||
Total interest-bearing liabilities
|
789,658
|
944
|
0.47
|
%
|
772,068
|
1,080
|
0.56
|
%
| ||||||||||||||||
Demand deposits
|
410,209
|
371,448
| ||||||||||||||||||||||
Other liabilities
|
8,885
|
4,246
| ||||||||||||||||||||||
Stockholders' equity
|
121,220
|
117,732
| ||||||||||||||||||||||
Total liabilities and stockholders' equity
|
$
|
1,329,972
|
$
|
1,265,494
| ||||||||||||||||||||
Net interest margin*
|
$
|
9,720
|
3.09
|
%
|
$
|
9,412
|
3.18
|
%
|
For the years ended December 31,
| ||||||||||||||||||||||||
(unaudited)
|
2021
|
2020
| ||||||||||||||||||||||
(dollars in thousands)
|
Average
Balance
|
Interest
Income/
Expense
|
Yield/
Rate
|
Average
Balance
|
Interest
Income/
Expense
|
Yield/
Rate
| ||||||||||||||||||
ASSETS | ||||||||||||||||||||||||
Loans*
|
$
|
841,748
|
$
|
37,960
|
451.00
|
%
|
$
|
834,247
|
$
|
36,061
|
4.32
|
%
| ||||||||||||
Investment securities:
| ||||||||||||||||||||||||
Taxable
|
173,661
|
3,284
|
1.82
|
%
|
145,029
|
3,068
|
2.12
|
%
| ||||||||||||||||
Tax-exempt*
|
32,158
|
953
|
2.96
|
%
|
18,270
|
654
|
3.58
|
%
| ||||||||||||||||
Total investment securities
|
205,819
|
4,237
|
2.06
|
%
|
163,299
|
3,722
|
2.28
|
%
| ||||||||||||||||
Interest-bearing due from banks
|
145,425
|
230
|
0.16
|
%
|
91,160
|
267
|
0.29
|
%
| ||||||||||||||||
Federal funds sold
|
2,932
|
3
|
0.09
|
%
|
841
|
12
|
1.45
|
%
| ||||||||||||||||
Other investments
|
1,104
|
70
|
6.35
|
%
|
3,020
|
134
|
4.43
|
%
| ||||||||||||||||
Total earning assets
|
1,197,028
|
$
|
42,500
|
3.55
|
%
|
1,092,567
|
$
|
40,196
|
3.68
|
%
| ||||||||||||||
Allowance for loan losses
|
(9,621
|
)
|
(9,723
|
)
| ||||||||||||||||||||
Other nonearning assets
|
98,597
|
104,414
| ||||||||||||||||||||||
Total assets
|
$
|
1,286,004
|
$
|
1,187,258
|
LIABILITIES AND STOCKHOLDERS' EQUITY
| ||||||||||||||||||||||||
Time and savings deposits:
| ||||||||||||||||||||||||
Interest-bearing transaction accounts
|
$
|
71,841
|
$
|
13
|
0.02
|
%
|
$
|
55,667
|
$
|
12
|
0.02
|
%
| ||||||||||||
Money market deposit accounts
|
372,193
|
879
|
0.24
|
%
|
307,190
|
1,012
|
0.33
|
%
| ||||||||||||||||
Savings accounts
|
114,285
|
46
|
0.04
|
%
|
96,149
|
56
|
0.06
|
%
| ||||||||||||||||
Time deposits
|
180,255
|
1,941
|
1.08
|
%
|
209,727
|
3,337
|
1.59
|
%
| ||||||||||||||||
Total time and savings deposits
|
738,574
|
2,879
|
0.39
|
%
|
668,733
|
4,417
|
0.66
|
%
| ||||||||||||||||
Federal funds purchased, repurchase
| ||||||||||||||||||||||||
agreements and other borrowings
|
14,178
|
35
|
0.25
|
%
|
33,846
|
150
|
0.44
|
%
| ||||||||||||||||
Long term borrowings
|
13,784
|
544
|
3.95
|
%
|
-
|
-
|
0.00
|
%
| ||||||||||||||||
Federal Home Loan Bank advances
|
-
|
-
|
0.00
|
%
|
38,942
|
725
|
1.86
|
%
| ||||||||||||||||
Total interest-bearing liabilities
|
766,536
|
3,458
|
0.45
|
%
|
741,521
|
5,292
|
0.71
|
%
| ||||||||||||||||
Demand deposits
|
391,673
|
325,596
| ||||||||||||||||||||||
Other liabilities
|
7,473
|
5,055
| ||||||||||||||||||||||
Stockholders' equity
|
120,322
|
115,086
| ||||||||||||||||||||||
Total liabilities and stockholders' equity
|
$
|
1,286,004
|
$
|
1,187,258
| ||||||||||||||||||||
Net interest margin*
|
$
|
39,042
|
3.26
|
%
|
$
|
34,904
|
3.19
|
%
|
Old Point Financial Corporation and Subsidiaries
|
As of or for the quarters ended,
|
For the years ended,
| ||||||||||||||||||
Selected Ratios (unaudited)
|
December 31,
|
September 30,
|
December 31,
|
December 31,
|
December 31,
| |||||||||||||||
(dollars in thousands, except per share data)
|
2021
|
2021
|
2020
|
2021
|
2020
| |||||||||||||||
Earnings per common share, diluted
|
$
|
0.32
|
$
|
0.36
|
$
|
0.10
|
$
|
1.61
|
$
|
1.03
| ||||||||||
Return on average assets (ROA)
|
0.50
|
%
|
0.58
|
%
|
0.17
|
%
|
0.66
|
%
|
0.45
|
%
| ||||||||||
Return on average equity (ROE)
|
5.49
|
%
|
6.22
|
%
|
1.84
|
%
|
7.01
|
%
|
4.68
|
%
| ||||||||||
Net Interest Margin (FTE) (non-GAAP)
|
3.09
|
%
|
3.26
|
%
|
3.18
|
%
|
3.26
|
%
|
3.19
|
%
| ||||||||||
Efficiency ratio
|
83.90
|
%
|
81.06
|
%
|
95.78
|
%
|
80.38
|
%
|
86.02
|
%
| ||||||||||
Efficiency ratio (FTE) (non-GAAP)
|
83.50
|
%
|
80.69
|
%
|
95.40
|
%
|
80.01
|
%
|
85.69
|
%
| ||||||||||
Book value per share
|
23.06
|
23.02
|
22.42
| |||||||||||||||||
Tangible Book Value per share (non-GAAP)
|
22.69
|
22.65
|
22.05
| |||||||||||||||||
Non-performing assets (NPAs) / total assets
|
0.11
|
%
|
0.10
|
%
|
0.16
|
%
| ||||||||||||||
Annualized Net Charge Offs / average total loans
|
0.05
|
%
|
0.07
|
%
|
0.22
|
%
| ||||||||||||||
Allowance for loan and lease losses / total loans
|
1.17
|
%
|
1.15
|
%
|
1.14
|
%
| ||||||||||||||
Non-Performing Assets (NPAs)
| ||||||||||||||||||||
Nonaccrual loans
|
$
|
478
|
$
|
424
|
$
|
1,214
| ||||||||||||||
Loans > 90 days past due, but still accruing interest
|
1,025
|
937
|
744
| |||||||||||||||||
Other real estate owned
|
-
|
-
|
-
| |||||||||||||||||
Total non-performing assets
|
$
|
1,503
|
$
|
1,361
|
$
|
1,958
| ||||||||||||||
Other Selected Numbers
| ||||||||||||||||||||
Loans, net
|
$
|
833,661
|
$
|
830,467
|
$
|
826,759
| ||||||||||||||
Deposits
|
1,177,099
|
1,150,706
|
1,067,236
| |||||||||||||||||
Stockholders' equity
|
120,818
|
120,767
|
117,145
| |||||||||||||||||
Total assets
|
1,337,885
|
1,311,626
|
1,226,191
| |||||||||||||||||
Loans charged off during the quarter, net of recoveries
|
103
|
149
|
479
| |||||||||||||||||
Quarterly average loans
|
861,454
|
838,376
|
878,688
| |||||||||||||||||
Quarterly average assets
|
1,329,972
|
1,299,461
|
1,265,494
| |||||||||||||||||
Quarterly average earning assets
|
1,246,353
|
1,211,040
|
1,178,579
| |||||||||||||||||
Quarterly average deposits
|
1,165,101
|
1,136,535
|
1,064,991
| |||||||||||||||||
Quarterly average equity
|
121,220
|
121,778
|
117,732
|
(dollars in thousands, except per share data)
|
Three Months Ended
|
Years Ended
| ||||||||||||||||||
Dec. 31, 2021
|
Sep. 30, 2021
|
Dec. 31, 2020
|
Dec. 31, 2021
|
Dec. 31, 2020
| ||||||||||||||||
Fully Taxable Equivalent Net Interest Income
| ||||||||||||||||||||
Net interest income (GAAP)
|
$
|
9,656
|
$
|
9,876
|
$
|
9,358
|
$
|
38,794
|
$
|
34,717
| ||||||||||
FTE adjustment
|
64
|
62
|
54
|
248
|
187
| |||||||||||||||
Net interest income (FTE) (non-GAAP)
|
$
|
9,720
|
$
|
9,938
|
$
|
9,412
|
$
|
39,042
|
$
|
34,904
| ||||||||||
Noninterest income (GAAP)
|
3,607
|
3,606
|
3,805
|
14,885
|
14,698
| |||||||||||||||
Total revenue (FTE) (non-GAAP)
|
$
|
13,327
|
$
|
13,544
|
$
|
13,217
|
$
|
53,927
|
$
|
49,602
| ||||||||||
Noninterest expense (GAAP)
|
11,128
|
10,928
|
12,607
|
43,149
|
42,505
| |||||||||||||||
Average earning assets
|
$
|
1,246,353
|
$
|
1,211,040
|
$
|
1,178,579
|
$
|
1,197,028
|
$
|
1,092,567
| ||||||||||
Net interest margin
|
3.07
|
%
|
3.24
|
%
|
3.16
|
%
|
3.24
|
%
|
3.18
|
%
| ||||||||||
Net interest margin (FTE) (non-GAAP)
|
3.09
|
%
|
3.26
|
%
|
3.18
|
%
|
3.26
|
%
|
3.19
|
%
| ||||||||||
Efficiency ratio
|
83.90
|
%
|
81.06
|
%
|
95.78
|
%
|
80.38
|
%
|
86.02
|
%
| ||||||||||
Efficiency ratio (FTE) (non-GAAP)
|
83.50
|
%
|
80.69
|
%
|
95.40
|
%
|
80.01
|
%
|
85.69
|
%
| ||||||||||
Tangible Book Value Per Share
| ||||||||||||||||||||
Total Stockholders Equity (GAAP)
|
$
|
120,818
|
$
|
120,767
|
$
|
117,145
| ||||||||||||||
Less goodwill
|
1,650
|
1,650
|
1,650
| |||||||||||||||||
Less core deposit intangible
|
275
|
286
|
319
| |||||||||||||||||
Tangible Stockholders Equity (non-GAAP)
|
$
|
118,893
|
$
|
118,831
|
$
|
115,176
| ||||||||||||||
Shares issued and outstanding
|
5,239,707
|
5,245,842
|
5,224,019
| |||||||||||||||||
Book value per share
|
$
|
23.06
|
$
|
23.02
|
$
|
22.42
| ||||||||||||||
Tangible book value per share (non-GAAP)
|
$
|
22.69
|
$
|
22.65
|
$
|
22.05
| ||||||||||||||
Dec. 31, 2021
|
Sep. 30, 2021
|
Dec. 31, 2020
| ||||||||||||||||||
ALLL as a Percentage of Loans Held for Investment
| ||||||||||||||||||||
Loans held for investment (net of deferred fees and costs) (GAAP)
|
$
|
843,526
|
$
|
840,151
|
$
|
836,300
| ||||||||||||||
Less PPP loans outstanding
|
19,008
|
36,320
|
85,983
| |||||||||||||||||
Loans held for investment, (net of deferred fees and costs), excluding PPP (non-GAAP)
|
$
|
824,518
|
$
|
803,831
|
$
|
750,317
| ||||||||||||||
ALLL
|
$
|
9,865
|
$
|
9,684
|
$
|
9,541
| ||||||||||||||
ALLL as a Percentage of Loans Held for Investment
|
1.17
|
%
|
1.15
|
%
|
1.14
|
%
| ||||||||||||||
ALLL as a Percentage of Loans Held for Investment, net of PPP originations
|
1.20
|
%
|
1.20
|
%
|
1.27
|
%
|
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Disclaimer
Old Point Financial Corporation published this content on 28 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 January 2022 11:42:11 UTC.