Exhibit 10.7

Base Salaries of Named Executive Officers of the Registrant

As of March 1, 2005, the following are the base salaries (on an annual basis) of the named executive officers (as defined in Item 402 (a)(3) of Regulation S-K) of Old Point Financial Corporation:

Robert F. Shuford         Chairman, President & CEO         Old Point Financial Corporation	$	225,000
Louis G. Morris         President & CEO         The Old Point National Bank of Phoebus	$	190,000
Cary B. Epes         Executive Vice President/Chief Credit Officer         The Old Point National Bank of Phoebus	$	136,000
Margaret P. Causby         Executive Vice President/Chief Administrative Officer         The Old Point National Bank of Phoebus	$	136,000
Laurie D. Grabow         Executive Vice President/Chief Financial Officer         The Old Point National Bank of Phoebus	$	115,000