Martin S. Friedman - Apr 29, 2022 Form 3 Insider Report for OLD POINT FINANCIAL CORP (OPOF)

Role: Other*, 10%+ Owner
Signature: Martin Friedman
Stock symbol: OPOF
Transactions as of: Apr 29, 2022
Transactions value $: $0
Form type: 3
Date filed: 5/5/2022, 04:04 PM
Previous filing: Apr 4, 2022
Next filing: Jun 27, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	OPOF	Common Stock						512K	Apr 29, 2022	See footnote	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Martin S Friedman (the "Reporting Person") is the managing member of FJ Capital Management LLC ("FJ Capital"), which is the managing member of and investment adviser to Financial Opportunity Fund LLC ("FOF"), Financial Hybrid Opportunity Fund LLC ("FHOF"), and Financial Hybrid Opportunity SPV 1 LLC ("HSPV"), (FOF, FHOF and HSPV, collectively, the "Funds") and investment adviser to a separately managed account ("SMA), each of which beneficially owns shares of the common stock of the issuer (the "Shares"). As a consequence of a earnings release by the issuer, FOF holds 308,627 Shares (ii) FHOF holds 76,173 Shares, (iii)HSPV holds 112,321 Shares, and (iv) the SMA holds 15,000 Shares. (continued in footnote 2)
F2	(Footnote 1 continued) The Reporting Person, in his capacity as Managing Member of FJ Capital, has voting and dispositive power over the Shares held by the Funds and the SMA. Mr. Friedman disclaims beneficial ownership of the Shares reported herein, and this report shall not be deemed an admission of beneficial ownership of such Shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Content

Martin S Friedman (the "Reporting Person") is the managing member of FJ Capital Management LLC ("FJ Capital"), which is the managing member of and investment adviser to Financial Opportunity Fund LLC ("FOF"), Financial Hybrid Opportunity Fund LLC ("FHOF"), and Financial Hybrid Opportunity SPV 1 LLC ("HSPV"), (FOF, FHOF and HSPV, collectively, the "Funds") and investment adviser to a separately managed account ("SMA), each of which beneficially owns shares of the common stock of the issuer (the "Shares"). As a consequence of a earnings release by the issuer, FOF holds 308,627 Shares (ii) FHOF holds 76,173 Shares, (iii)HSPV holds 112,321 Shares, and (iv) the SMA holds 15,000 Shares. (continued in footnote 2)

(Footnote 1 continued) The Reporting Person, in his capacity as Managing Member of FJ Capital, has voting and dispositive power over the Shares held by the Funds and the SMA. Mr. Friedman disclaims beneficial ownership of the Shares reported herein, and this report shall not be deemed an admission of beneficial ownership of such Shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Remarks:

On April 29, 2022, Old Point Financial Corporation ("OPOF") filed a Form 8-K reporting results for Q1 2022. As a consequence, on May 4, 2022, FJ Capital learned that OPOF had repurchased 122,995 shares pursuant to its authorized share repurchase program (the "Q1 Repurchases"). The Q1 Repurchases resulted in a decrease in the number of such shares issued and outstanding and caused the Reporting Person's ownership to exceed ten percent (10%).