Virginia’s TowneBank makes deal for a 4th NC bank

TowneBank plans to acquire BlueHarbor Bank in North Carolina for about $154 million in stock and cash, marking its fourth acquisition in the state. BlueHarbor, with $628 million in assets, adds branches in Mooresville, Statesville, and Mount Airy, expanding Towne's presence in the fast-growing Charlotte area. The purchase price is 2.2 times BlueHarbor's tangible book value, above the 2026 average. The deal is expected to close in early 2027.