Old Point Financial (Old Point Financial) Credit Losses Provision : $2.60 Mil (As of Dec. 2023)

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What is Old Point Financial Credit Losses Provision?

Old Point Financial's credit losses provision for the three months ended in Dec. 2023 was $1.36 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $2.60 Mil.

Old Point Financial's quarterly credit losses provision increased from Jun. 2023 ($0.36 Mil) to Sep. 2023 ($0.51 Mil) and increased from Sep. 2023 ($0.51 Mil) to Dec. 2023 ($1.36 Mil).

Old Point Financial's annual credit losses provision increased from Dec. 2021 ($0.79 Mil) to Dec. 2022 ($1.71 Mil) and increased from Dec. 2022 ($1.71 Mil) to Dec. 2023 ($2.60 Mil).

Old Point Financial Credit Losses Provision Historical Data

The historical data trend for Old Point Financial's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Old Point Financial Credit Losses Provision Chart

Old Point Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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0.32

1.00

0.79

1.71

2.60

Old Point Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision	Get a 7-Day Free Trial															0.63	0.38	0.36	0.51	1.36

Old Point Financial Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $2.60 Mil.

Old Point Financial (Old Point Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Old Point Financial Corp (NAS:OPOF) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

101 East Queen Street, Hampton, VA, USA, 23669

Website

https://www.oldpoint.com

Old Point Financial Corp functions in the financial services domain in the United States. As the holding company of The Bank and Trust, it is a nationally chartered trust and wealth management service, provider. Its suite of services includes commercial banking solutions such as loan, deposit and cash management, which are rendered through a chain of branches throughout the country. It operates through segments such as Bank, Wealth and Company.

Executives

Sarah B Golden	director	PO BOX 3392, HAMPTON VA 23663
Tom B Langley	director	PO BOX 3392, HAMPTON VA 23663
Michael A Glasser	director	PO BOX 3392, HAMPTON VA 23663
Joseph R Witt	director, other: EVP, Corporate Banking, OPNB	PO BOX 3392, HAMPTON VA 23663
Paul M Pickett	officer: Chief Financial Officer	PO BOX 3392, HAMPTON VA 23663
Elizabeth S Wash	director	1104 WORMLEY CREEK DRIVE, YORKTOWN VA 23692
Pl Capital Advisors, Llc	10 percent owner	750 ELEVENTH STREET SOUTH, SUITE 202, NAPLES FL 34102
John Cabot Ishon	director	PO BOX 3392, HAMPTON VA 23663
Thacker Clark Rebekah Ellen	director	PO BOX 3392, HAMPTON VA 23663
Adams Stephen Conway	director	PO BOX 3392, HAMPTON VA 23663
Shuford Robert F Jr	other: EVP/CHIEF OPERATING OFFR-OPNB	PO BOX 3392, HAMPTON VA 23663
Greene Dr Arthur D	director	PO BOX 3392, HAMPTON VA 23663
John W Palmer	10 percent owner	C/O SECURITY FINANCIAL BANCORP INC, 9321 WICKER AVE, ST JOHN IN 46373
Richard J Lashley	10 percent owner	C/O PL CAPITAL, LLC, 47 E. CHICAGO AVE., SUITE 328, NAPERVILLE IL 60540
Kauders A Eric Jr	officer: SVP/Trust	101 E QUEEN ST, HAMPTON VA 23669