As filed with the Securities and Exchange Commission on July 19, 1999
Registration No.: 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
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OLD POINT FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Virginia 54-1265373
(State of Incorporation (IRS Employer Identification No.)
or Organization)
1 West Mellen Street
Hampton, Virginia 23663
(Address of Principal Executive Offices) (Zip Code)
OLD POINT FINANCIAL CORPORATION 1998 STOCK OPTION PLAN
(Full name of the Plan)
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Robert F. Shuford Copy to: Jacob A. Lutz, III
President and Chief Executive Officer Mays & Valentine, L.L.P.
Old Point Financial Corporation 1111 East Main St.,
1 West Mellen Street NationsBank Center
Hampton, Virginia 23663 Richmond, Virginia 23219
Telephone: (757) 728-1200 Telephone: (804) 697-1490
(Name and Address of Agent for Service Process)
Approximate date of proposed commencement of sales pursuant to the Plans: Upon
effectiveness of this Registration Statement.
CALCULATION OF REGISTRATION FEE
Proposed Proposed
Maximum Maximum
Title of Securities Amount to be Offering Price Aggregate Amount of
to be Registered Registered Per Share(1) Offering Price(1) Registration Fee
---------------- ---------- ------------ ----------------- -----------------
Common Stock
$1.00 par value 125,000 $26.00 $3,250,000 $903.50
(1) Estimated solely for the purpose of calculating the registration fee
pursuant to Rule 457(c) and (h) under the Securities Act of 1933, as amended
(the "Securities Act").
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
Old Point Financial Corporation (the "Company") will furnish shareholders
with annual reports containing audited financial statements and with quarterly
reports containing unaudited financial statements for the first three quarters
of each fiscal year. Copies of these documents, and any other communications
sent to the Company's shareholders generally, also will be furnished to all
employees eligible to participate in the Company's 1998 Stock Option Plan.
The Company hereby incorporates herein by reference the following documents
filed by the Company with the Commission:
(a) Annual Report on Form 10-K for the fiscal year ended December 31, 1998,
filed pursuant to Section 13 of the 1934 Act;
(b) Quarterly Report on Form 10-Q for the quarter ended March 31, 1999; and
(c) The description of the Company's Common Stock contained in the
"Description of Common Stock" in the Company's Prospectus filed as part of the
Registration Statement on Form S-14, Registration No. 2-89581, with the
Securities and Exchange Commission on February 22, 1984.
All documents filed by the Company after the date of this Registration
Statement pursuant to Sections 13(a), 13(c), 14 and 15(d) of the 1934 Act, prior
to the filing of a post-effective amendment which indicates that all the
Company's Common Stock offered hereby has been sold or which deregisters such
Company Common Stock then remaining unsold, shall be deemed to be incorporated
herein by reference and to be a part hereof from the date of filing such
documents. Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or is
deemed to be incorporated by reference herein modifies or supersedes such
statement. Any such statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this Registration
Statement.
Item 4. Description of Securities.
Not Applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Title 13.1, Chapter 9, Article 10 of the Code of Virginia of 1950, as
amended, permits a Virginia corporation in general to indemnify any of its
officers and directors, and any person serving at its request as an officer or
director or another corporation or enterprise if he acted in good faith and in a
manner which he believed to be in, or not opposed to, the best interest of the
corporation. In the event, however, that such person is adjudged liable to the
corporation, he will not be entitled to indemnification. The statute also
permits a corporation to provide other or further indemnity in its articles of
incorporation, or in a bylaw or resolution approved by its directors or
shareholders, except for an indemnity against willful misconduct or a knowing
violation of criminal law. Furthermore, unless limited by its articles of
incorporation, a corporation shall indemnify a director who entirely prevails in
the defense of any proceeding to which he was a party because he is or was a
director of the corporation. Finally, the statute authorizes a corporation to
purchase and maintain insurance on behalf of any such person against any
liability asserted against him and incurred by him in any such capacity or
arising out of his status as such, whether or not the corporation would have the
power to indemnify him against such liability.
The Articles of Incorporation of the Registrant provide that, to the full
extent permitted by the Virginia Stock Corporation Act, as amended, each
director and officer shall be indemnified by the Corporation against
liabilities, fines, penalties and claims imposed upon or asserted against him
(including amounts paid in settlement) by reason of having been such director or
officer, whether or not then continuing so to be, and against all expenses
(including counsel fees) reasonably incurred by him in connection therewith,
except in relation to matters as to which he shall have been finally adjudged
liable by reason of his willful misconduct or a knowing violation of criminal
law in the performance of his duty as such director or officer.
Item 7. Exemption from Registration Claimed.
Not Applicable.
Item 8. Exhibits.
An index of Exhibits appears at page II-6 hereof.
Item 9. Undertakings.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being
made, a post-effective amendment to this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3)
of the Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising
after the effective date of this Registration Statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate,
represents a fundamental change in the information set forth in the Registration
Statement;
(iii) To include any material information with respect to the
plan of distribution not previously disclosed in the Registration Statement or
any material change to such information in the Registration Statement;
II-2
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii)
shall not apply to information contained in periodic reports filed by the
registrant pursuant to Section 13 or Section 15(d) of the Securities Exchange
Act of 1934 that are incorporated by reference in this Registration Statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to be
a new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at the
termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934 (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the
Securities Exchange Act of 1934) that is incorporated by reference in this
Registration Statement shall be deemed to be a new registration statement
relating to the securities offered herein, and the offering of such securities
at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise,
the registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the
securities being registered, the registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question of whether such indemnification by it
is against policy as expressed in the Securities Act of 1933 and will be
governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the undersigned
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Hampton, Commonwealth of Virginia, on the 16th day of
July, 1999.
OLD POINT FINANCIAL CORPORATION
Hampton, Virginia
By: /s/ Robert F. Shuford
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Rober F. Shuford
President
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed by the following persons in the
capacities and on the dates indicated:
NAME TITLE DATE
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President (Principal Executive
/s/ Robert F. Shuford Officer) and Director
- ------------------------------- July 16, 1999
Robert F. Shuford
Senior Vice President & Treasurer
(Principal Financial and Accounting
/s/ Louis G. Morris Officer) July 16, 1999
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Louis G. Morris
/s/ Richard F. Clark Director July 16, 1999
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Richard F. Clark
/s/ Gertrude S. Dixon Director July 16, 1999
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Gertrude S. Dixon
/s/ Russell S. Evans, Jr. Director July 16, 1999
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Russell S. Evans, Jr.
/s/ G. Royden Goodson, III Director July 16, 1999
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G. Royden Goodson, III
/s/ Dr. Arthur D. Greene Director July 16, 1999
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Dr. Arthur D. Greene
/s/ Steven D. Harris Director July 16, 1999
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Steven D. Harris
/s/ John Cabot Ishon Director July 16, 1999
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John Cabot Ishon
/s/ Eugene M. Jordan Director July 16, 1999
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Eugene M. Jordan
/s/ John B. Morgan Director July 16, 1999
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John B. Morgan
/s/ Dr. H. Robert Schappert Director July 16, 1999
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Dr. H. Robert Schappert
EXHIBIT INDEX
Exhibit Description Exhibit Number
Articles of Incorporation 4.1 (Incorporated by
reference from the Form 10-K,
filed March 27, 1998)
Bylaws 4.2 (Incorporated by
reference from the Form 10-K,
filed March 27, 1998)
Old Point Financial Corporation 4.3
1998 Stock Option Plan, filed herewith
Opinion of Mays & Valentine, L.L.P., 5
with respect to the validity of the
Common Stock, filed herewith
Consent of Eggleston Smith P.C., 23.1
Independent Public Accountants dated June
30, 1999, filed herewith.
Consent of Mays & Valentine, L.L.P., 23.3
contained in their opinion filed as
Exhibit 5 hereto
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