ZACKS·2025-11-25 17:16Core Insights - Fulton Financial Corp. (FULT) has agreed to acquire Blue Foundry Bancorp (BLFY) in an all-stock transaction valued at approximately $243 million [1][7]. Transaction Details - Fulton will exchange 0.6500 shares for each share of Blue Foundry, with the merger agreement approved by the boards of both companies [2]. - The deal is expected to close in the second quarter of 2026, pending regulatory approvals and Blue Foundry's shareholder consent [3]. - Upon completion, Blue Foundry Bank will merge into Fulton Bank, N.A., and Fulton will contribute $1.5 million to the Fulton Forward Foundation for community grants in New Jersey [3]. Strategic Rationale - The acquisition accelerates Fulton's expansion in the northern New Jersey market and is projected to increase first full-year earnings by over 5% [4]. - The deal is expected to enhance tangible book value per share immediately while maintaining regulatory capital ratios at closing [4]. - Fulton aims to leverage its banking services to provide greater convenience and innovative solutions to a larger customer base, aligning with its strategy for organic growth across various business segments [5]. Market Performance - Fulton's shares have declined by 18.2% over the past year, compared to an 8.7% decline in the industry [6].