Mergers & Acquisitions

Slideshow By The Online Investor Staff, updated Tue., Oct. 6, 11:09 PM

Slide #5. TowneBank — blueharbor bank

Acquirer: TowneBank (NASDAQ:TOWN)
Acquiree: blueharbor bank (BLHK)
Details: Hampton Roads based TowneBank (NASDAQ: TOWN) and Mooresville based blueharbor bank (OTCQX: BLHK) ("blueharbor"), today announced the signing of a definitive merger agreement pursuant to which TowneBank will acquire blueharbor for approximately $154 million, based on TowneBank's 10-day volume-weighted average price of $36.15 as of October 2, 2026. The proposed transaction will enhance TowneBank's position in the greater Charlotte MSA as well as the fast-growing I-77 corridor including Mooresville and Statesville. The combination brings together blueharbor's strong local lending and core deposit relationships with TowneBank's broader resources, creating a stronger platform to serve customers across the region. The transaction is expected to further leverage TowneBank's recent expansion throughout the Carolina markets.

TowneBank is engaged in offering retail and commercial banking services to various markets in Virginia and North Carolina. Co. operates through three segments: Banking, Realty and Insurance. The Banking segment provides loan and deposit services to retail and commercial customers. It also provides commercial mortgage brokerage services and a variety of investment and asset management services. The Realty segment offers residential real estate services, mortgage loans, resort property management, and residential and commercial title insurance. The Insurance segment provides a full line of commercial and consumer insurance products and financial services, as well as employee benefit services.

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Company Name:  TowneBank
Short interest:  TOWN short interest
Website:  www.townebank.com
Sector:  Banking & Savings
Number of ETFs Holding TOWN:  81
 

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