SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549


                                   FORM 8-K


                                CURRENT REPORT
       Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


       Date of Report (Date of earliest event reported):  April 01, 1999



                        OLD POINT FINANCIAL CORPORATION
           (Exact name of registrant as specified in its charter)





 Virginia                          0-12896          54-1265373
 (State or other jurisdiction of   (Commission      (I.R.S. Employer
  incorporation or organization)    File Number)    Identification No.)
                                       


            1 West Mellen Street, Hampton, Virginia               23663
            (Address of principal executive offices)             (Zip Code)
            


Registrant's telephone number, including area code (757) 728-1200



Item 5.     Other Events
                           PRESS RELEASE

  OLD POINT FINANCIAL CORPORATION ESTABLISHES NEW SUBSIDIARY:
         OLD POINT TRUST AND FINANCIAL SERVICES, N.A.
                               
   Old Point Financial Corporation announces that effective
   April 1, 1999, Old Point Trust & Financial Services, N.A. is
   a wholly owned subsidiary of Old Point Financial
   Corporation.  W. Rodney Rosser is President of the new
   company and Frank E. Continetti is the Chief Administrative
   Officer.
   
   "Old Point Trust has had a long and proud heritage of
   service to the community," said Mr. Rosser, "The bank was
   granted trust powers in 1926, just three years after the
   bank's founding.  Since that time, our trust division has
   grown to be the second largest independent trust and
   financial services provider based in Virginia. With this
   move, we are indicating that local trust services are here
   to stay. The object of this move is to provide lifetime
   financial services to our customers in the form of a broader
   range of services."  Among the additional services that the
   new subsidiary will be able to provide to Hampton Roads
   residents are annuities, mutual funds, discount brokerage,
   investment advisory services, financial planning, and tax
   services.
   
   Added Mr. Continetti, "Not only are we the second largest
   independent trust services provider in the state, but we are
   the largest in Hampton Roads. That means that we can locally
   provide many of the sophisticated financial services that
   our customers want.  Our twenty-six employees are also
   focused on personal service."
   OPFC NEW SUBSIDIARY
   The new subsidiary has a national bank charter and will be
   regulated under national banking laws and regulations.  The
   "N.A."in the legal title of the company stands for "National
   Association." Banking regulations require that all national
   banks have the word "national" in their legal title.
   
   Old Point Trust & Financial Services, N.A. has over $360
   million in assets and a staff of 26.  In addition to its
   headquarters office in the Old Point Trust and Financial
   Services Center in the Oyster Point section of Newport News,
   Old Point Trust has an office in Hampton.

   
   Old Point Financial Corporation is the parent company of Old
   Point Trust and Financial Services, N.A., a full service
   trust company, and Old Point National Bank, a locally owned
   and managed community bank established in 1923. Through its
   two subsidiaries, Old Point Financial Corporation provides
   financial services to the community of Hampton Roads via a
   network of 12 banking offices and a Trust and Financial
   Services Center.  Two additional branches, in Chesapeake and
   Norge, are scheduled to open in mid-1999.
   
   For More Information Contact:Lani Chisman Davis, Marketing
   Director, 757/728-1286