
Mergers & Acquisitions
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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