Fulton's latest acquisition nears finish line

Core Viewpoint - Fulton Financial is set to acquire Blue Foundry Bancorp in an all-stock transaction valued at $243 million, with the deal expected to close around April 1, following regulatory approvals from the Federal Reserve and the Office of the Comptroller of the Currency [1][2]. Group 1: Transaction Details - The acquisition involves Fulton Financial, the parent company of Fulton Bank, purchasing Blue Foundry, which transitioned from a depositor-owned mutual thrift to a publicly traded bank in 2021 [1][2]. - The transaction is an all-stock deal, indicating that Fulton will use its own shares to pay for the acquisition [1][2]. Group 2: Financial Metrics - Fulton currently holds approximately $32.1 billion in assets, and the combined entity post-acquisition is projected to have over $34 billion in assets [2]. - The merger will result in a network of more than 220 branches and around $28 billion in deposits [2].