Fulton Financial Corporation and Blue Foundry Bancorp Combining in All-Stock Merger

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].