Blue Hill Advisors raises cash offer for Territorial Bancorp to $12.50 per share

Blue Hill Advisors LLC and former Hawaii banking executive Allan Landon announced an increased cash offer for Territorial Bancorp Inc. (TBNK) from $12.00 per share to $12.50 per share. The increased offer represents a 27% premium over Territorial’s proposed takeover by Hope Bancorp, Inc. (HOPE) based on Hope’s closing stock price on the Nasdaq on September 25. “This increase makes our offer even more attractive,” said Landon.