TowneBank to Acquire blueharbor bank for $154 Million

MT newswire2026/10/06 13:00

09:00 AM EDT, 10/06/2026 (MT Newswires) -- TowneBank (TOWN) has agreed to acquire blueharbor bank for about $154 million, the companies said Tuesday. Under the terms of the deal, shareholders of blueharbor will receive $12.70 in cash and 1.0534 TowneBank common shares for each outstanding blueharbor share they own, for an implied value of $50.78 per share. The total consideration mix results in around 75% of the transaction paid in TowneBank common stock. The transaction is expected to close in Q1 2027. Upon closing of the acquisition, blueharbor Chairman Kelley Earnhardt Miller will join the TowneBank board, and blueharbor President and Chief Executive Officer Jim Marshall will become TowneBank's Piedmont regional president.

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