TowneBank agrees to buy blueharbor bank for $154 million
TOWN•TowneBank agreed to acquire blueharbor bank for about $154 million to expand in the greater Charlotte area and I-77 corridor. blueharbor shareholders will receive $12.70 in cash and 1.0534 TowneBank shares per share, implying $50.78 per share.
1. Deal terms and timing
The consideration mix implies roughly 75% stock, based on TowneBank’s 10-day volume-weighted average price of $36.15 as of Oct. 2, 2026. The deal is targeted to close in the first quarter of 2027. blueharbor reported $628 million in assets, $537 million in loans and $551 million in deposits as of June 30, 2026, and has five offices. Kelley Earnhardt Miller will join the corporate board, and Jim Marshall will become Piedmont regional president.
