TowneBank, based in Hampton Roads, Virginia, is acquiring Blueharbor Bank for approximately $154 million.
The proposed transaction will enhance TowneBank’s position in the greater Charlotte, North Carolina area, where Blueharbor Bank is based.
TowneBank has about $22.6 billion in total assets and operates over 70 banking offices throughout Hampton Roads and Central Virginia, Eastern and Central North Carolina, the Greenville and upstate region of South Carolina, and Charleston, South Carolina.
“We are excited to welcome Blueharbor and its talented team to the TowneBank family,” G. Robert Aston, Jr., executive chairman of TowneBank, said. “Blueharbor has a long history of stellar performance along with an excellent reputation across the communities it serves. This partnership reflects TowneBank’s ongoing efforts to attract experienced banking talent and build meaningful growth markets.”
Blueharbor Bank is headquartered in Mooresville, North Carolina, with approximately $628 million in total assets, $537 million in loans, and $551 million in deposits. It has branch offices in Mooresville, Statesville and Mount Airy, as well as loan production offices in Belmont and Hickory.
“Blueharbor was built on a focus upon customers, businesses and communities throughout the I-77 corridor,” Jim Marshall, president and CEO of Blueharbor, said. “We are excited to partner with TowneBank, whose commitment to community banking and serving others closely reflects our own. Our customers will benefit from TowneBank’s broader range of products, services and technology while continuing to receive the local service they value.”
After the deal is finalized, Kelley Earnhardt Miller, chairman of the Blueharbor board and CEO of JR Motorsports, will join the TowneBank board. Marshall will join the TowneBank as Piedmont regional president.
“I have known Jim Marshall for years, and we are extremely proud to have him and his team as members of our TowneBank family,” Steve Jones, president, TowneBank of the Carolinas, said.
The transaction is expected to close in the first quarter of 2027, pending customary closing conditions, regulatory approvals, and Blueharbor shareholder approvals.