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Old Point, Citizens National secure deal approvals

Shareholders of Citizens National Bank voted in favor of the company's merger into Old Point Financial Corp.

The Virginia-based companies have now secured all necessary shareholder and regulatory approvals and continue to expect deal completion early in the second quarter.

The cash-and-stock acquisition was valued at approximately $7.9 million when it was announced in October 2017. Based on Dec. 31, 2017, financials, the combined company will have $1.03 billion in assets, $828 million in deposits and $104 million in capital, according to the press release.