Fulton Financial Corporation (FULT) and Blue Foundry Bancorp (BLFY) jointly announced the receipt of all required regulatory approvals for the previously announced all-stock transaction pursuant to which Fulton will acquire Blue Foundry. Regulatory approvals have been granted by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency. Blue Foundry’s stockholders approved the transaction on January 29, 2026. The transaction was announced on November 24, 2025 an ...

LANCASTER, Pa. and RUTHERFORD, N.J., Feb. 23, 2026 (GLOBE NEWSWIRE) -- Fulton Financial Corporation (Nasdaq: FULT) (“Fulton”) and Blue Foundry Bancorp (Nasdaq: BLFY) (“Blue Foundry”) today jointly announced the receipt of all required regulatory approvals for the previously announced all-stock transaction pursuant to which Fulton will acquire Blue Foundry. Regulatory approvals have been granted by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency. Blue Fo ...

Geopolitical Tensions - President Trump is considering a limited military strike against Iran to pressure for a new nuclear agreement, with options including targeted strikes on nuclear facilities [2] - The U.S. military is conducting its largest buildup in the region in over two decades, deploying advanced fighter jets and an aircraft carrier, leading to increased volatility in oil markets [3] Financial Regulation - The Federal Reserve has approved Fulton Financial Corporation's acquisition of Blue Foundry Bancorp, allowing Fulton to expand its presence in the northern New Jersey market [4] - The merger is expected to create a $34 billion community bank, providing Blue Foundry customers access to over 200 locations across the mid-Atlantic [5] Trade and Industry - President Trump has labeled steel tariffs as a "game-changer" for American manufacturing, maintaining a 50% levy on foreign steel and aluminum to combat Chinese overcapacity [6] - The Commerce Department is reviewing over 400 products for potential exemptions from these tariffs, which may ease compliance burdens for domestic firms [7] International Affairs - North Korea's 9th Party Congress showcased the country's new military capabilities, including 50 AI-enhanced rocket launchers, amid claims of overcoming recession and completing a five-year growth plan [9][10] Domestic Policy - The FBI is lowering recruitment and vetting standards due to a staffing crisis, anticipating a loss of over 5,000 employees by September [11] - The agency will no longer require a college degree for certain positions and will reduce training from 18 weeks to 8 weeks, raising concerns about operational efficacy [12]

The Federal Reserve Board on Thursday announced its approval of the application by Fulton Financial Corporation, of Lancaster, Pennsylvania, to acquire Blue Foundry Bancorp and thereby indirectly acquire Blue Foundry Bank, both of Rutherford, New Jersey. For media inquiries, please email [email protected] or call (202) 452-2955. ...

Group 1 - Fulton Financial Corporation (FULT) experienced a 2.6% increase in share price on January 22nd, indicating volatility for shareholders [1] - The company is under the management of Daniel, who is a professional investor focused on analyzing cash flows and assessing the value of companies in the oil and gas sector [1] - Daniel employs a combination of Benjamin Graham's investment philosophy and a contrarian approach to identify businesses trading at significant discounts to their intrinsic value [1] Group 2 - No stock, option, or similar derivative positions are held by the analyst in any of the companies mentioned, nor are there plans to initiate such positions within the next 72 hours [2] - The article expresses the author's own opinions and is not influenced by compensation from any company mentioned [2] - Seeking Alpha clarifies that past performance does not guarantee future results and that the views expressed may not reflect those of the platform as a whole [3]

Core Insights - Fulton Financial reported record operating earnings per share of $2.16 for 2025, supported by strong deposit growth, disciplined expense management, and a solid balance sheet [3][4][7] Deposit Growth - Customer deposits increased by $449 million in 2025, with a 25% year-over-year rise in consumer demand deposit account openings [1][6] - In Q4, total deposits rose by $257 million, with balanced growth between interest-bearing and non-interest-bearing deposits [8][9] Profitability Metrics - Operating return on assets improved by 17 basis points to 1.28%, while net interest margin increased by 9 basis points to 3.51% [2][7] - Non-interest income for 2025 totaled $277 million, up nearly 7%, contributing over 20% to total revenue [16][18] Loan Growth and Outlook - Loan growth in 2025 was impacted by strategic portfolio actions, creating an over $800 million headwind, but organic loan growth was still achieved [10][13] - The company anticipates a return to historical mid-single-digit loan growth in 2026, with a commercial pipeline up more than 10% year-over-year [6][15] Credit Quality and Capital Position - Non-performing assets to total assets ended at 0.58%, with net charge-offs at 21 basis points of average loans [21] - The company repurchased 1.1 million shares in Q4 and received a new $150 million buyback authorization, strengthening its capital position [5][22] 2026 Guidance - Management expects net interest income to be between $1.12 billion and $1.14 billion, with provisions for loan losses estimated at $55 million to $75 million [26] - The company is focused on maintaining momentum in deposits, loan origination, and fee income growth while integrating the pending Blue Foundry acquisition [23]

Financial Data and Key Metrics Changes - Operating earnings per share reached a record $2.16 for 2025, reflecting strong performance compared to 2024 [5] - Customer deposits increased by $449 million, driven by enhanced deposit initiatives and a 25% growth in consumer demand deposit account openings year over year [6] - Operating return on assets improved by 17 basis points to 1.28%, and net interest margin increased by 9 basis points to 3.51% [9][10] Business Line Data and Key Metrics Changes - Non-interest income, excluding certain gains and losses, rose to $277 million, up almost 7% year over year, with commercial fees growing by 8% [7][8] - Wealth assets under management surpassed $17 billion, with a 17% increase in referrals from financial centers to advisors [8] Market Data and Key Metrics Changes - Total deposits grew by $257 million, or 3.9%, with balanced growth across categories [14] - Municipal deposits decreased by $254 million, while commercial deposits remained stable [14] Company Strategy and Development Direction - The company aims to create long-term value by growing the business, effectively serving customers, and maintaining operational excellence [5] - The acquisition of Blue Foundry Bancorp is expected to strengthen the company's footprint and enhance its community banking model [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to historical loan growth rates in the mid-single-digit range for 2026, supported by increased productivity and a strong pipeline [27] - The company anticipates continued strength in 2026, building on momentum and delivering strong results for stakeholders [11] Other Important Information - Operating expenses grew by only 1.9% in 2025, and when normalizing for the full year of Republic First expenses, they would have decreased by 2.7% [9] - The company repurchased $59 million of common stock and increased its dividend, while maintaining the highest capital ratios seen in over a decade [10][19] Q&A Session Summary Question: Loan growth guidance for 2026 - Management noted that over $800 million of headwinds from strategic actions in 2025 are expected to moderate, allowing for a return to mid-single-digit organic growth [26] Question: Pay downs assumptions - Management indicated that they do not foresee significant changes in normal portfolio pay downs and prepayments year over year [28] Question: Loan mix changes with new hires - Management emphasized a diversified loan book strategy, expecting growth across all segments, particularly in commercial and industrial (C&I) and commercial real estate (CRE) [36] Question: Deposit growth and composition - Management highlighted strong momentum in consumer and small business deposits, with a focus on low-cost operating deposits [46] Question: Commercial interest rate swap income - Management stated that swap income correlates with larger originations and is expected to fluctuate accordingly [52] Question: Other fee income expectations - Management noted that volatility in other fee income is driven by equity method investments, with a normalized level expected around $2.5 million [53]

Financial Data and Key Metrics Changes - Operating earnings per share for 2025 reached a record $2.16, reflecting strong performance compared to 2024 [9] - Customer deposits increased by $449 million, with a 25% year-over-year growth in consumer demand deposit account openings [10] - Net interest margin improved by 9 basis points to 3.51%, ending the fourth quarter at 3.59% despite Fed rate cuts [18] - Operating return on assets increased by 17 basis points to 1.28% [17] - Tangible book value per share grew by 15% [19] Business Line Data and Key Metrics Changes - Non-interest income, excluding certain gains and losses, rose to $277 million, up almost 7% year-over-year [13] - Commercial fees increased by 8%, driven by a 17% growth in cash management revenue [14] - Wealth assets under management surpassed $17 billion, with a 17% increase in referrals from financial centers [15] Market Data and Key Metrics Changes - The loan-to-deposit ratio remained stable at 91% [29] - Total deposits grew by $257 million, or 3.9%, with balanced growth across categories [27] - Municipal deposits decreased by $254 million, while other wholesale funding declined by $29 million [28] Company Strategy and Development Direction - The company aims to create long-term value by growing the business and delivering effectively for customers [9] - The acquisition of Blue Foundry Bancorp is expected to strengthen the company's footprint and community banking model [21] - The company plans to return to historical loan growth rates in the mid-single-digit range in 2026 [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving mid-single-digit loan growth in 2026, citing the moderation of previous headwinds [46] - The company is optimistic about opportunities in 2026, focusing on continued strength and growth [22] - Credit metrics improved, with non-performing assets declining to 0.58% of total assets [37] Other Important Information - Operating expenses grew by 1.9% in 2025, but would have decreased by 2.7% when normalizing for prior year expenses [17] - The company repurchased $59 million of common stock and increased its dividend [19] - The effective tax rate is projected to be between 18.5% and 19.5% for 2026 [40] Q&A Session Summary Question: Loan growth guidance for 2026 - Management indicated that headwinds from strategic actions in 2025 will moderate, allowing for a return to mid-single-digit growth [46] Question: Pay downs assumptions - Management expects normal portfolio pay downs and prepayments to remain consistent year-over-year [50] Question: Loss provision guidance - The allowance for credit losses is expected to drift lower in a stable credit environment, with charge-offs remaining flat [52] Question: Loan mix changes with new hires - Management aims for diversified growth across all loan segments, with opportunities in CRE, C&I, and business banking [60] Question: Deposit growth and composition - Management noted strong momentum in consumer and small business deposits, with a focus on low-cost operating deposits [71] Question: Commercial interest rate swap income - Swap income is expected to correlate with originations, which have shown growth in the fourth quarter [78] Question: Other fee income expectations - Other fee income is expected to normalize around $2.5 million, influenced by quarterly volatility [79]

Financial Data and Key Metrics Changes - Operating earnings per share reached a record $2.16 for 2025, reflecting strong performance compared to 2024 [5] - Customer deposits increased by $449 million, with a 25% growth in consumer demand deposit account openings year over year [5] - Operating return on assets improved by 17 basis points to 1.28%, and net interest margin increased by 9 basis points to 3.51% [9][10] Business Line Data and Key Metrics Changes - Non-interest income, excluding certain gains and losses, was $277 million, up almost 7% year over year, with commercial fees growing by 8% [7][8] - The business banking team raised over $133 million in lower-cost operating deposits, contributing to overall deposit growth [5] - Loan growth was impacted by strategic actions that represented over $800 million in headwinds, yet organic loan growth was achieved [6][12] Market Data and Key Metrics Changes - Total deposits grew by $257 million, or 3.9%, with balanced growth across categories [14] - Municipal deposits decreased by $254 million, while commercial deposits remained stable [14] - The commercial pipeline increased by more than 10% year over year, indicating strong future growth potential [48] Company Strategy and Development Direction - The company aims to create long-term value by growing the business and enhancing customer service [5] - The acquisition of Blue Foundry Bancorp is expected to strengthen the company's footprint and community banking model [11] - The company plans to return to historical loan growth rates in the mid-single-digit range in 2026 [7][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving mid-single-digit loan growth in 2026, supported by increased productivity and a strong pipeline [27][28] - The company anticipates stable credit conditions and a stable economic environment, which will influence the allowance for loan losses [30] - Management highlighted the importance of maintaining a diversified loan portfolio to support growth across various segments [38] Other Important Information - Operating expenses grew by 1.9% in 2025, with a normalized decrease of 2.7% when accounting for prior year expenses [9] - The company repurchased $59 million of common stock and increased its dividend, reflecting strong capital ratios [10][19] - The effective tax rate is projected to be between 18.5% and 19.5% for 2026 [20] Q&A Session Summary Question: Can you quantify the headwinds for loan growth in 2026? - Management noted over $800 million in headwinds from strategic actions in 2025, which are expected to moderate in 2026, allowing for a return to mid-single-digit growth [26] Question: What are the assumptions regarding pay downs in the loan portfolio? - Management indicated that they do not foresee significant changes in normal portfolio pay downs and prepayments year over year [28] Question: How will the loan mix change with new hires? - Management emphasized the strategy to grow all loan segments, including CRE and C&I, with a focus on maintaining a diversified loan book [38] Question: What are the expectations for deposit growth and cost of funds? - Management expressed confidence in deposit growth driven by consumer and small business segments, with the cost of deposits finishing December at 1.80% [45][46] Question: What is the outlook for commercial interest rate swap income? - Management stated that swap income correlates with originations and is expected to fluctuate based on larger deals [50] Question: What is the expected run rate for other fee income? - Management indicated that a normalized level for other fee income would be around $2.5 million [52]

A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q for the quarters ending ...