Fulton Financial to buy NJ’s Blue Foundry in $243M deal

Fulton Financial Corporation has announced it will acquire Blue Foundry Bancorp, a New Jersey-based bank, in an all-stock transaction valued at approximately $243 million. The deal is structured so that each share of Blue Foundry common stock will be exchanged for 0.65 shares of Fulton common stock, with the estimated value based on Fulton’s November 21, 2025 share price of $17.96, equating to $11.67 per Blue Foundry share.​

Deal Structure and Timing

• The transaction has received approval from both companies’ boards of directors.​

• Regulatory approvals and approval by Blue Foundry’s shareholders are pending.

• The deal is expected to close in the second quarter of 2026.​

Strategic Impact

• Fulton, a Pennsylvania-based institution, will expand its presence into northern New Jersey, gaining 21 branches across eight counties, including some of the state’s most populous.​

• This acquisition builds on Fulton’s recent move into southern New Jersey through its acquisition of Republic First Bank in 2024.​

• Fulton expects the transaction will immediately increase its tangible book value per share and add more than 5% to first full-year earnings without affecting its regulatory capital ratios.​

Community Commitment

• As part of the merger, Fulton will contribute $1.5 million to the Fulton Forward Foundation, earmarked for nonprofit community organizations in New Jersey.​

Leadership Commentary

• Curtis Myers, Fulton’s CEO, emphasized the strategic alignment with their growth plans and the opportunity to provide more services to customers.

• Blue Foundry’s CEO, James Nesci, stated that the partnership preserves local relationships while offering access to greater resources and solutions for customers.​

This deal represents a significant regional banking consolidation and investment in New Jersey communities.​