Blueharbor Bank Declares Special Cash Dividend

The bank will pay shareholders $0.25 per share ahead of its planned acquisition by TowneBank.

Updated on Oct. 28, 2026 in Banking

Blueharbor Bank Declares Special Cash Dividend

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Blueharbor Bank has declared a special cash dividend of $0.25 per share for its common shareholders. This payout comes as the financial institution moves toward its anticipated acquisition by TowneBank.

Why it matters

This dividend distribution occurs in the lead-up to a $154 million acquisition deal. The payout provides immediate value to shareholders while the bank continues its transition toward joining TowneBank in 2027.

Blueharbor Bank, which reported $628 million in total assets as of June 30, 2026, trades on the OTCQX under the ticker BLHK. The declared special cash dividend is set to be distributed on November 20.

The players

Blueharbor Bank

This financial institution operates as a publicly traded entity on the OTCQX exchange.

TowneBank

This regional bank is the entity that has entered into a definitive agreement to acquire Blueharbor Bank.

The details

Common shareholders of record on November 10 will receive the special cash payment. The declaration follows the October 6 agreement that positioned TowneBank to acquire Blueharbor Bank for $154 million.

June 30, 2026: Blueharbor Bank reported total assets of $628 million.
October 6, 2026: TowneBank agreed to acquire Blueharbor Bank for $154 million.
November 10, 2026: Shareholders of record become eligible for the dividend.
November 20, 2026: The special cash dividend payment is scheduled.
Q1 2027: The acquisition of the bank is expected to close.

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Market Dynamics

This acquisition follows industry consolidation patterns governed by the Bank Holding Company Act regulatory requirements. The move reflects a broader trend of regional banks seeking scale through strategic mergers to remain competitive.

Shareholders of record by the November 10 deadline will receive the $0.25 per share cash distribution directly. Those holding positions in BLHK should verify their broker's specific timeline for dividend processing to ensure timely receipt of funds.

The takeaway

Investors should note that the dividend payment marks a final distribution phase prior to the total acquisition of the bank. Shareholders should keep record dates in mind to ensure eligibility for the scheduled cash payout.

What happens next

The dividend payment is scheduled for November 20, 2026, for shareholders of record on November 10, 2026. The acquisition of the bank by TowneBank is projected to reach closure in the first quarter of 2027.