Prnewswire·2025-11-24 13:45Core Viewpoint - Fulton Financial Corporation is set to acquire Blue Foundry Bancorp in an all-stock transaction valued at approximately $243 million, enhancing Fulton's presence in the northern New Jersey market [2][3][4]. Transaction Details - Each share of Blue Foundry common stock will be exchanged for 0.6500 shares of Fulton common stock, translating to a value of $11.67 per share of Blue Foundry based on Fulton's share price of $17.96 as of November 21, 2025 [2]. - The transaction is expected to close in the second quarter of 2026, pending regulatory approvals and stockholder approval from Blue Foundry [4]. Strategic Implications - The merger is anticipated to be accretive to Fulton's first full-year earnings by over 5% and immediately accretive to tangible book value per share [3]. - The acquisition aligns with Fulton's strategy to grow in local markets and is expected to enhance its commercial, consumer, wealth advisory, and mortgage businesses [5]. 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]. Company Backgrounds - Fulton Financial Corporation is a $32 billion asset financial holding company providing various financial services across multiple states [7]. - Blue Foundry Bancorp operates Blue Foundry Bank, which has a strong community focus and a history of over 145 years [9].