TowneBank Enhances North Carolina Presence Through Agreement To Acquire blueharbor bank
TowneBank and blueharbor bank signed a definitive merger agreement under which TowneBank will acquire blueharbor for approximately $154 million. blueharbor shareholders will receive $12.70 in cash plus 1.0534 TowneBank shares per share, an implied value of $50.78 per share, with roughly 75% of the consideration paid in stock. blueharbor brings approximately $628 million in total assets, $537 million in loans, and $551 million in deposits, strengthening TowneBank's position in the Charlotte MSA and I-77 corridor.
Key figures
- Deal Value Usd
- 154000000
- Loans
- $537 million
- Deposits
- $551 million
- Total assets
- $628 million
- Cash per share
- $12.70
- Exchange ratio
- 1.0534
- Expected close
- Q1 2027
- Implied value per share
- $50.78
- Stock pct of consideration
- 75%
AI analysis
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