Fulton Financial Corporation completed its acquisition of Blue Foundry Bancorp on April 1 2026, adding roughly $2 billion in total assets to its balance sheet and creating a $34 billion financial services company.
The all‑stock transaction was valued at approximately $243 million and was structured with an exchange ratio of 0.6500 Fulton shares for each Blue Foundry common share, allowing Blue Foundry shareholders to receive Fulton equity in proportion to the deal value.
Strategically, the deal expands Fulton’s footprint in New Jersey, strengthens its deposit franchise, and enhances its commercial banking capabilities in the Mid‑Atlantic region. The combined entity will benefit from a larger customer base and a broader geographic reach.
Blue Foundry Bank will continue to operate as a separate subsidiary until the summer of 2026, when its systems, accounts and operations will be merged into Fulton Bank, N.A. Customers will remain at their existing branches during the transition period.
As part of the transaction, Fulton Financial pledged $1.5 million to the Fulton Forward Foundation to support nonprofit community organizations in New Jersey, underscoring the company’s commitment to local economic development.
Fulton’s recent Q4 2025 earnings, which saw an operating EPS of $0.55 versus analyst expectations of $0.49, demonstrated strong performance and provided a solid financial foundation for the acquisition. The company’s revenue of $336.02 million, slightly below the $336.4 million forecast, reflected a modest shortfall in top‑line growth but was offset by the acquisition’s expected synergies.
"We are excited to welcome Blue Foundry Bank customers, employees and shareholders to the Fulton family! Completing the acquisition of Blue Foundry Bancorp marks an exciting milestone," said Curt Myers, Fulton Chairman, CEO and President. "I am proud of the collaboration between both organizations to ensure a seamless transition for Blue Foundry Bank customers as they join Fulton Bank later this year. Expanding our presence in New Jersey allows us to deepen our impact and continue changing lives for the better in the communities we serve."
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