Key Takeaways Fulton will acquire Blue Foundry in a $243M all-stock deal expected to close in 2026.Fulton says the merger will speed its northern New Jersey expansion and lift earnings.Fulton plans a $1.5M foundation contribution as part of the community-focused deal.Fulton Financial Corp. (FULT) has agreed to acquire Blue Foundry Bancorp (BLFY) in an all-stock transaction valued at roughly $243 million.Details of the Blue Foundry Buyout by FultonPer the agreement, Fulton will pay 0.6500 shares for each sha ...

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Core Viewpoint - Fulton Financial Corporation is acquiring Blue Foundry Bancorp in an all-stock transaction valued at approximately $243 million, enhancing Fulton's presence in the northern New Jersey market and expected to be accretive to earnings and tangible book value [2][3][4]. Group 1: Transaction Details - The merger agreement stipulates that each share of Blue Foundry common stock will be exchanged for 0.6500 shares of Fulton common stock, valuing Blue Foundry at $11.67 per share based on Fulton's share price of $17.96 as of November 21, 2025 [2]. - The transaction is anticipated to close in the second quarter of 2026, pending regulatory approvals and stockholder approval from Blue Foundry [4]. Group 2: Strategic Implications - This acquisition is part of Fulton's strategy to accelerate growth in the attractive northern New Jersey market, with expectations of over 5% accretion to first full-year earnings and immediate accretion to tangible book value per share [3]. - The merger aims to combine the strengths of both community-focused banks, enhancing customer service and expanding the range of banking solutions available to a larger customer base [5]. Group 3: Community Commitment - Fulton will contribute $1.5 million to the Fulton Forward Foundation to support nonprofit community organizations in New Jersey as part of the transaction [5]. Group 4: Company Backgrounds - Fulton Financial Corporation is a $32 billion asset financial holding company providing various financial services across multiple states, including Pennsylvania, Maryland, Delaware, New Jersey, and Virginia [7]. - Blue Foundry Bancorp operates Blue Foundry Bank, serving communities in New Jersey with a commitment to innovative banking solutions and a history of over 145 years [9].

Accessibility StatementSkip Navigation FFC Logo (PRNewsfoto/Fulton Financial Corporation) Bancorp Logo Transaction Expands Fulton's Presence in Highly Attractive New Jersey Markets LANCASTER, Pa. and RUTHERFORD, N.J., Nov. 24, 2025 /PRNewswire/ -- Fulton Financial Corporation (Nasdaq: FULT) ("Fulton") and Blue Foundry Bancorp (Nasdaq: BLFY) ("Blue Foundry") today announced that they have entered into a definitive merger agreement pursuant to which Fulton will acquire Blue Foundry in an all-stock transaction ...

Core Insights - The article emphasizes the importance of a ranking system based on earnings estimates and revisions to identify winning stocks, while also acknowledging the diverse strategies investors may adopt [1] - Value investing is highlighted as a popular method for identifying undervalued stocks through fundamental analysis and established metrics [2] Company Analysis - Fulton Financial (FULT) is currently under observation, holding a Zacks Rank of 2 (Buy) and an A grade for Value, indicating strong interest from investors [3] - FULT has a Price-to-Sales (P/S) ratio of 1.69, which is lower than the industry average of 1.83, suggesting it may be undervalued [4] - The Price-to-Cash Flow (P/CF) ratio for FULT stands at 12.09, compared to the industry average of 16.70, further indicating potential undervaluation based on cash flow strength [5] - The metrics presented suggest that FULT is likely undervalued, especially when considering its positive earnings outlook, making it an attractive value stock at this time [6]

Financial Performance - Net income available to common shareholders for Q3 2025 was $97.9 million, a 61.4% increase from $60.6 million in Q3 2024[141]. - Net income for Q3 2025 was $100.454 million, a 59% increase from $63.206 million in Q3 2024[149]. - Operating net income for the nine months ended September 30, 2025, reached $305.076 million, up 23.4% from $246.860 million in the same period of 2024[149]. - The return on average common shareholders' equity for Q3 2025 was 12.26%, up from 8.13% in Q3 2024[139]. - The efficiency ratio improved to 56.5% in Q3 2025, compared to 59.6% in Q3 2024[139]. - Total revenue for the nine months ended September 30, 2025, was $989.990 million, compared to $909.107 million in the same period of 2024[150]. Interest Income and Margin - Net interest income for the nine months ended September 30, 2025, was $770.3 million, up $63.6 million from $706.7 million in the same period of 2024[146]. - The net interest margin (NIM) increased to 3.57% in Q3 2025, compared to 3.49% in Q3 2024[139]. - Net interest income for Q3 2025 was $264.198 million, an increase from $258.009 million in Q3 2024, with a net interest margin of 3.57%[151]. - Net interest income for Q3 2025 was $268.6 million, an increase of $6.2 million from $262.4 million in Q3 2024, with a net interest margin (NIM) of 3.57%, up 8 basis points year-over-year[151]. - Net interest income for the nine months ended September 30, 2025, was $783.5 million, an increase of $63.2 million compared to the same period in 2024[169]. Non-Interest Income and Expenses - Non-interest income decreased to $206.8 million in Q3 2025, down $3.0 million from $209.8 million in Q3 2024[146]. - Non-interest income increased by $10.7 million, or 18.0%, in Q3 2025 compared to Q3 2024, with significant contributions from cash management and wealth management revenues[166]. - Non-interest expenses were $578.8 million in Q3 2025, a decrease of $24.3 million compared to $603.2 million in Q3 2024[146]. - Total non-interest expense decreased by $29.5 million, or 13.1%, to $196.6 million for Q3 2025 compared to Q3 2024[167]. - Non-interest expense for the nine months ended September 30, 2025 decreased by $24.3 million, or 4.0%, compared to the same period in 2024[187]. Credit Losses and Allowance - The provision for credit losses was $32.7 million, resulting in an allowance for credit losses (ACL) of $376.3 million, or 1.57% of total net loans as of September 30, 2025[146]. - The provision for credit losses was $10.2 million for Q3 2025, resulting in an allowance for credit losses of $376.3 million, or 1.57% of total net loans[164]. - Provision for credit losses decreased by $22.2 million to $32.7 million for the nine months ended September 30, 2025, compared to $54.9 million for the same period in 2024[183]. - The allowance for credit losses (ACL) to non-performing loans ratio improved to 189% as of September 30, 2025, compared to 172% as of December 31, 2024[200]. Assets and Liabilities - Total average assets as of September 30, 2025, were $31.924 billion, slightly up from $31.895 billion in 2024[149]. - Total assets decreased by $76.7 million, or 0.2%, from $32,071.8 million on December 31, 2024, to $31,995.1 million on September 30, 2025[189]. - Total liabilities decreased by $293.0 million, or 1.0%, to $28.581 billion as of September 30, 2025[189]. - Total deposits increased by $203.1 million, or 0.8%, from $26,129.4 million to $26,332.5 million[189]. - Average total deposits increased by $2.3 billion, or 9.4%, to $26.20 billion for the nine months ended September 30, 2025, driven by increases in interest-bearing demand deposits, savings and money market deposits, and time deposits[178]. Shareholder Actions - The Corporation repurchased 2,203,767 shares of common stock at a cost of $39.8 million during the nine months ended September 30, 2025[146]. - The Corporation's total risk-based capital ratio was 15.0% as of September 30, 2025, exceeding the regulatory minimum of 8.0%[220]. - Total uninsured deposits were estimated at $9.7 billion as of September 30, 2025, up from $9.4 billion at the end of 2024[210]. Tax and Regulatory - The effective tax rate (ETR) for the three months ended September 30, 2025 was 21.4%, compared to 20.7% for the same period in 2024[168]. - The effective tax rate (ETR) for the nine months ended September 30, 2025 was 19.9%, up from 14.8% for the same period in 2024[188].

Core Insights - The article emphasizes the importance of value investing, which focuses on identifying undervalued companies in the market [2][3] - Fulton Financial (FULT) is highlighted as a strong value stock, currently holding a Zacks Rank of 2 (Buy) and an A for Value [3][6] Company Metrics - Fulton Financial has a Price-to-Sales (P/S) ratio of 1.73, which is lower than the industry average of 1.86, indicating potential undervaluation [4] - The company's Price-to-Cash Flow (P/CF) ratio stands at 12.09, compared to the industry average of 15.78, further suggesting that FULT may be undervalued [5] - Over the past year, FULT's P/CF has fluctuated between a high of 13.36 and a low of 9.05, with a median of 11.55, reflecting its cash flow performance [5]

Group 1 - The article does not provide any specific content or key points related to a company or industry [1]

Financial Data and Key Metrics Changes - Operating earnings for the third quarter were $101.3 million, or $0.55 per share, reflecting strong profitability and positive operating leverage [4][9] - Total revenue reached an all-time high, driven by increased net interest income and fee income, with an efficiency ratio of 56.5% and an operating ROA of 1.29% [5][7] - The company repurchased 1.65 million shares at a weighted average cost of $18.67 per share, while tangible book value per share grew 18% on a linked quarter annualized basis [5][16] Business Line Data and Key Metrics Changes - Deposit growth outpaced loan growth, with deposits increasing by $194 million, primarily from demand and savings accounts, while total loan balances grew by $29 million [6][10] - Non-interest income for the quarter was $70.4 million, representing 21% of total revenue, with growth driven by wealth and consumer businesses [14] Market Data and Key Metrics Changes - The loan-to-deposit ratio ended the quarter at 91%, with a decline in non-interest-bearing balances to 19.5% of total deposits [11][12] - The net interest margin increased by 10 basis points to 3.57%, with net interest income on a non-FTE basis at $264.2 million, a $9.3 million increase linked quarter [12][13] Company Strategy and Development Direction - The company continues to focus on organic growth and maintaining a diversified balance sheet, with a strategy to pursue acquisitions in the $1 billion to $5 billion community bank segment [31][33] - Management emphasized the importance of managing deposit pricing to balance funding future growth while defending margins [13][14] Management Comments on Operating Environment and Future Outlook - Management expressed caution regarding credit quality due to economic uncertainties but noted steady performance in the loan portfolio, with improvements in non-performing loans and charge-offs [7][15] - The company updated its 2025 operating guidance, increasing net interest income expectations while tightening provisions and operating expenses [16][17] Other Important Information - The allowance for credit losses to total loans ratio remained stable at 1.57%, with an increase in ACL to non-performing loan coverage to 189% [15] - The company has remaining buyback authorization of $86 million under the current plan, indicating ongoing commitment to capital management [16][49] Q&A Session Summary Question: Impact of net interest income guidance revision - Management acknowledged that the revised guidance implies some margin pressure in the fourth quarter due to rate cuts, estimating a $2 million annualized NII headwind for every 25 basis points [20][21] Question: Positive operating leverage in 2026 - Management aims to generate organic growth to drive positive operating leverage, focusing on managing expense and revenue levels [22][23] Question: Cumulative interest-bearing deposit beta expectations - Management targets maintaining the cumulative interest-bearing deposit beta around 30% as the Fed cuts rates [27] Question: Organic growth opportunities in specific markets - Management highlighted opportunities for organic growth in Virginia, Maryland, and Philadelphia, driven by customer acquisition and talent recruitment [33] Question: Capital management and loan growth - Management stated that organic growth remains a priority, followed by corporate activities and buybacks, with $86 million remaining in buyback authorization [49][50]

Financial Data and Key Metrics Changes - Operating earnings for the third quarter were $101.3 million, or $0.55 per share, reflecting strong profitability and positive operating leverage [4][9] - Total revenue reached an all-time high, driven by growth in net interest income and fee income, with an efficiency ratio of 56.5% and an operating ROA of 1.29% [5][7] - The company repurchased 1.65 million shares at a weighted average cost of $18.67, while tangible book value per share grew 18% on a linked quarter annualized basis [5][16] Business Line Data and Key Metrics Changes - Deposit growth outpaced loan growth, with deposits increasing by $194 million, primarily from demand and savings accounts, while total loan balances grew by $29 million [6][10] - Non-interest income for the quarter was $70.4 million, accounting for 21% of total revenue, with significant contributions from the wealth management business [14] Market Data and Key Metrics Changes - The loan-to-deposit ratio ended the quarter at 91%, with a decline in non-interest-bearing balances to 19.5% of total deposits [11][12] - The average cost of total deposits decreased by 2 basis points to 1.96%, while the total cost of funds declined by 4 basis points [13] Company Strategy and Development Direction - The company aims to continue its community banking strategy and regional scale to deliver customer value and strong results for shareholders [4] - There is a focus on organic growth and maintaining a balanced approach to capital deployment, including share repurchases and potential M&A opportunities [16][49] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding credit performance due to economic uncertainties but noted steady performance in the loan portfolio, with improvements in non-performing loans and charge-offs [7][15] - The company updated its 2025 operating guidance, increasing net interest income expectations while tightening provisions and operating expenses [17] Other Important Information - The company anticipates a seasonal outflow of municipal balances in the fourth quarter, which typically sees a 40% to 50% reduction from the third quarter inflows [11][60] - The company maintains a healthy capital position with a tangible common equity to tangible asset ratio of 8.3% and a CET1 ratio of 11.5% [16] Q&A Session Summary Question: Impact of net interest income guidance revision - Management acknowledged that the revised guidance implies some margin pressure in the fourth quarter due to rate cuts, estimating a $2 million annualized NII headwind for every 25 basis points [20][21] Question: Positive operating leverage in 2026 - Management emphasized the focus on generating organic growth to drive positive operating leverage, with a neutral balance sheet position aiding this goal [22][23] Question: Cumulative interest-bearing deposit beta expectations - Management aims to maintain the cumulative interest-bearing deposit beta around 30% as loan growth normalizes [27] Question: Organic growth opportunities in specific markets - Management highlighted opportunities for organic growth in Virginia, Maryland, and Philadelphia, driven by customer acquisition and talent recruitment [33] Question: Capital management and repurchase strategy - Management stated that organic growth remains the priority, followed by corporate activities and then share buybacks, with $86 million remaining in buyback authorization [49][50]