Fulton Financial Corporation (FULT) entered a merger agreement on November 24, 2025, to acquire Blue Foundry Bancorp (BLFY) in an all-stock deal valued at $243 million.
Each share of Blue Foundry common stock will be exchanged for 0.65 shares of Fulton common stock, valuing Blue Foundry at $11.67 per share, representing a 47.35% premium from the stock’s last close.
Founded in 1939, Blue Foundry is a New Jersey–based bank and holding company that provides full-service banking, including deposits and a wide range of loans, to individuals and businesses across northern New Jersey.
Fulton Financial is a Pennsylvania-based financial holding company that provides a full range of consumer, commercial, and wealth management services through Fulton Bank across Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.
The deal is expected to close in the second quarter of 2026.
Blue Foundry Bank, the wholly owned subsidiary of Blue Foundry, will merge into Fulton Bank, N.A., the wholly owned bank subsidiary of Fulton. Fulton Bank will remain as the surviving bank.
Piper Sandler and Luse Gorman advised Blue Foundry on finances and legal matters, respectively. Stephens and Holland & Knight did the same for Fulton.
Fulton is paying 0.71 times the tangible book value for Blue Foundry.
For a comprehensive understanding of this M&A transaction, please visit the Deal Metrics page here:
The Deal Metrics page for each merger or acquisition includes:
– A spread history chart of the merger from announcement through eventual completion or failure.
– Progression of the merger through the expiration of the HSR period, regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates.
– And a lot more.
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Editor’s Note: Baranjot Kaur contributed to this article