Fulton Financial Corporation and Blue Foundry Bancorp have announced an all-stock merger agreement, with each share of Blue Foundry common stock being exchanged for 0.6500 shares of Fulton common stock. Based on Fulton's share price of $17.96 as of November 21, 2025, the transaction is valued at approximately $243 million, or $11.67 per share of Blue Foundry common stock.
This transaction is expected to be accretive to first full-year earnings by over 5% and immediately accretive to tangible book value per share. It is also anticipated to be neutral to regulatory capital ratios at close. The merger is designed to accelerate Fulton’s growth efforts in the northern New Jersey market, and the boards of directors of both companies have unanimously approved the agreement.
Following the closing, Blue Foundry Bank, the wholly owned subsidiary of Blue Foundry, will merge into Fulton Bank, N.A., the wholly owned bank subsidiary of Fulton, with Fulton Bank as the surviving bank.
As part of the transaction, Fulton will make a $1.5 million contribution to the Fulton Forward® Foundation, designated to be used to provide impact grants in support of nonprofit community organizations in New Jersey.
Fulton Financial Corporation, headquartered in Lancaster, PA, is a $32 billion asset financial holding company providing a variety of financial services through its subsidiary bank, Fulton Bank, N.A., in Pennsylvania, Maryland, Delaware, New Jersey, and Virginia. Blue Foundry Bancorp, on the other hand, is the holding company for Blue Foundry Bank, serving various counties in New Jersey.
The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions, including regulatory approvals and approval by Blue Foundry’s stockholders. As a result of these announcements, the company's shares have moved -1.17% on the market, and are now trading at a price of $17.75. For more information, read the company's full 8-K submission here.
