In TA 3001, just before Bilbo's Farewell Party, Old Noakes was gossiping with the "Old Gaffer", Daddy Twofoot, and Sandyman the miller. He said that Drogo Baggins (the father of Frodo) sank he and his wife Primula Brandybuck's boat because of his weight. Sandyman thought it was because Primula pushed him off. Old Gaffer laughed at both of these rumors.
"Old" suggests the age of this Hobbit is not young. "Noaks" is probably from the early English phrase "atten oek". This means "At the Oak". Thus fully roughly meaning "old oak".