BlueHarbor Bank Declares $0.25 Special Shareholder Dividend
Shareholders on record by November 10 will receive a $0.25 payout as the bank heads toward its acquisition by TowneBank.
Updated on Oct. 28, 2026 in Banking
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BlueHarbor Bank has declared a special cash dividend of $0.25 per share for eligible shareholders ahead of its pending acquisition. The payment is scheduled for later this fall as the bank moves toward being acquired by TowneBank.
Why it matters
The dividend payment provides a payout to current shareholders as the bank enters the final stages of its independent operation. This comes as TowneBank works to finalize its $154 million acquisition of the institution, which reported assets of $628 million as of June 30, 2026.
BlueHarbor Bank declared a special cash dividend of $0.25 per share, based on a reported $628 million in total assets as of June 30, 2026. Shareholders of record on November 10 will receive this payout while awaiting the proposed $154 million acquisition by TowneBank.
The players
BlueHarbor Bank
A financial institution currently traded on the OTCQX exchange with $628 million in assets.
TowneBank
A regional financial institution that provides consumer banking services and is currently in the process of acquiring BlueHarbor Bank.
The details
The special dividend is a one-time cash distribution to holders of common stock, which trades on the OTCQX exchange under the ticker BLHK. The distribution occurs as part of the broader transition involving TowneBank, which reached an agreement to acquire the institution on October 6. This payout functions as a return of capital to current shareholders before the anticipated close of the deal in early 2027.
Timeline
June 30, 2026 was the date for the bank's reported asset total of $628 million.
October 6, 2026 was when the agreement to acquire the bank was finalized.
November 10, 2026 is the record date for dividend eligibility.
November 20, 2026 is the scheduled payout date for the dividend.
Q1 2027 is the expected closing window for the bank acquisition.
Money Landscape
The special dividend reflects a common trend in bank mergers where capital is distributed to shareholders before a final transition. This payout follows the terms established in the 2026 TowneBank acquisition agreement.
Shareholders of record on November 10 should ensure their brokerage account information is current to receive the $0.25 per share payment on November 20. Consult with a financial advisor to understand how the pending acquisition of your shares may impact your long-term portfolio tax position.
The takeaway
The special dividend serves as a final payout for current investors before the merger process concludes. Keep track of the November 10 record date to ensure you remain eligible for the upcoming cash distribution.
What happens next
The acquisition of the bank by TowneBank is expected to close in the first quarter of 2027, subject to regulatory approval.
Further reading
For more on how mergers affect your holdings, visit Banking.
Source note: This article includes information reported by TokenPost.
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