Nov. 24 at 3:24 PM
Blue Foundry Bancorp shares rose after Fulton Financial announced it would acquire the company in an all-stock deal valued at about
$243 million. The agreement sets an exchange ratio of 0.65 Fulton shares for each Blue Foundry share, valuing the target at
$11.67 based on Fulton’s Nov. 21 close. The acquisition is expected to accelerate Fulton’s expansion in northern New Jersey and boost its first full-year earnings by over 5%, while immediately lifting tangible book value per share and keeping regulatory capital ratios neutral. Both boards unanimously approved the deal, which is slated to close in Q2 2026 pending shareholder and regulatory approvals. Fulton will also contribute
$1.5 million to its Fulton Forward Foundation to support local nonprofits in New Jersey.
$BLFY $FULT