#USA #Financial Services #Fulton Financial #Blue Foundry Bancorp #Lancaster and Rutherford

Fulton Financial Corporation and Blue Foundry Bancorp Merge

In an exciting development for the banking industry, Fulton Financial Corporation (Nasdaq: FULT) and Blue Foundry Bancorp (Nasdaq: BLFY) revealed a definitive merger agreement on November 24, 2025. This all-stock transaction is valued at an impressive $243 million and serves as a bold step toward expanding Fulton’s footprint in the attractive markets of northern New Jersey.

According to the merger agreement, shareholders of Blue Foundry will exchange each share for 0.6500 shares of Fulton common stock. Based on Fulton's share price of $17.96 on November 21, 2025, this amounts to approximately $11.67 per share for Blue Foundry. This partnership not only signifies a strategic move for Fulton to enhance its presence but also promises to significantly boost its growth efforts in the region.

Both organizations have emphasized the positive impact this merger is expected to generate, with projections indicating over 5% accretive growth to Fulton's earnings in the first year after the merger. Moreover, the merger is anticipated to immediately enhance the tangible book value per share and maintain stability in regulatory capital ratios.

The boards of directors for both companies have unanimously approved this transformative agreement, which is anticipated to conclude in the second quarter of 2026, pending regulatory approvals and support from Blue Foundry's shareholders. Post-merger, Blue Foundry Bank, a subsidiary of Blue Foundry, will merge into Fulton Bank, N.A., allowing Fulton Bank to emerge as the primary bank entity.

Strengthening Community Banking

Curtis J. Myers, the Chairman and CEO of Fulton, expressed his enthusiasm about this partnership, stating, “We are bringing together two community-focused banks with shared values and a strong commitment to making banking personal for each customer.” This merger aims to deliver greater convenience to customers while leveraging Fulton's comprehensive banking services and innovative solutions, ultimately supporting local communities better.

James D. Nesci, President and CEO of Blue Foundry, echoed these sentiments, highlighting the benefits this merger provides for stakeholders: employees, customers, and the larger community. “This partnership not only allows us to maintain our personalized approach but also affords us access to greater resources to better serve our clients.”

In alignment with its community support initiatives, Fulton has committed to contributing $1.5 million to the Fulton Forward® Foundation, a project aimed at providing essential grants to nonprofit organizations in New Jersey.

The Future Outlook

Financial advisors for both organizations, including Stephens Inc. and Piper Sandler & Co., have played pivotal roles in facilitating this merger, ensuring a smooth transition toward combining their operations. The merger is seen not just as a financial move but as a collaborative leap towards a more community-driven banking experience. This merger highlights a growing trend among financial institutions aiming to strengthen their market presence through synergies in operations and customer service.

This merger signifies a new chapter in the development of both institutions, combining their resources, knowledge, and customer-centric strategies to foster a more robust banking experience. As the banking landscape continues to evolve, this partnership stands as a testament to the importance of community-focused banking in enhancing customer relations and delivering substantial financial services.

Both companies have made it clear that they are committed to ensuring that the transition is as seamless as possible, minimizing disruptions and continuing to prioritize the needs of their customers and communities. This strategic merger not only positions both banks for future growth but also enhances their ability to serve existing customers while attracting new clientele.

As we look ahead, the merger between Fulton Financial Corporation and Blue Foundry Bancorp highlights the importance of collaboration in today’s financial landscape, proving that partnerships can cultivate stronger and more resilient banking institutions that prioritize customer needs.