On June 3, 2019, Jeffrey W. Farrar notified Old Point Financial Corporation (the “Company”) of his decision to resign from the Company effective July 1, 2019. Mr. Farrar will continue in his current role as the Company’s Chief Financial Officer & Senior Vice President/Finance and as Chief Financial Officer & Executive Vice President of The Old Point National Bank of Phoebus (the “Bank”), through July 1, 2019. Mr. Farrar will be succeeded on an interim basis by Elizabeth T. Beale, who will serve as Interim Chief Financial Officer of the Company effective July 2, 2019. Ms. Beale will also succeed Mr. Farrar at such time as the Company’s interim principal financial and accounting officer.

Ms. Beale, age 47, has served as the Bank’s Senior Vice President and Chief Accounting Officer since April, 2018. Prior to joining the Bank, Ms. Beale served as Chief Financial Officer of Citizens National Bank, Windsor, Virginia from April 2003 until its merger with the Company in 2018. There are no arrangements or understandings between Ms. Beale and any other person to which she was appointed, nor are there are any family relationships between Ms. Beale and any of the Company’s directors or executive officers. Ms. Beale does not have any material interest in any transactions, relationships or arrangements with the Company that would require disclosure under Item 404(a) of Regulation S-K promulgated under the Securities Exchange Act of 1934, as amended.

About OLD POINT FINANCIAL CORPORATION (NASDAQ:OPOF)

Old Point Financial Corporation is a holding company that conducts all of its operations through two subsidiaries, The Old Point National Bank of Phoebus (the Bank) and Old Point Trust & Financial Services, N.A. (the Trust). The Company operates in three principal business segments: the Bank, the Trust and the Parent. The Company is the parent company of Trust and the Bank. The Bank is an independent community bank. The Bank had approximately 18 branch offices serving the Hampton Roads localities of Hampton, Newport News, Norfolk, Virginia Beach, Chesapeake, Williamsburg/James City County, York County and Isle of Wight County. The Bank offers a complete line of consumer, mortgage and business banking services, including loan, deposit and cash management services. The Bank offers a range of deposit and loan products to its retail and commercial customers. The Trust is a nationally chartered trust company and is wealth management services provider.