Fulton Financial to acquire Blue Foundry Bancorp for ~$243M in all-stock merger

Blue Foundry Bancorp

Each BLFY share exchanged for 0.6500 FULT share; transaction valued at ~$243M or $11.67/share.
Expected to close Q2 2026, subject to regulatory and stockholder approvals; boards unanimously approved.
Deal expected to be >5% accretive to first full-year EPS, immediately accretive to tangible book value.
CEO James Nesci and CFO Kelly Pecoraro entered settlement agreements: $4.311M and $2.601M respectively, with two-year non-compete.
Fulton will contribute $1.5M to Fulton Forward Foundation for NJ community grants.

item 1.01 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Blue Foundry Bancorp entered into Merger Agreement with Fulton Financial Corporation (effective 2025-11-24).

Action: entry
Agreement: merger
Counterparty: Fulton Financial Corporation
Effective: 2025-11-24

Exact text from the filing

On November 24, 2025, Blue Foundry Bancorp, a Delaware corporation (“Blue Foundry”), and Fulton Financial Corporation, a Pennsylvania corporation (“Fulton”), entered into an Agreement and Plan of Merger (the “Merger Agreement”)

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Source: SEC EDGAR

accession 0001193125-25-294478

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