FULTON FINANCIAL CORPORATION COMPLETES ACQUISITION OF BLUE FOUNDRY BANCORP
Rhea-AI Summary
Fulton Financial Corporation (Nasdaq: FULT) completed its acquisition of Blue Foundry Bancorp (Nasdaq: BLFY) on April 1, 2026, making Fulton a $34 billion financial services company. Blue Foundry Bank will operate as a separate, wholly owned subsidiary until a planned summer merger into Fulton Bank.
Fulton said it will contribute $1.5 million to the Fulton Forward Foundation to support New Jersey nonprofits; customer accounts will remain unchanged until the systems conversion.
Positive
- Pro forma scale: company becomes a $34 billion financial services firm
- Geographic expansion: adds presence in attractive New Jersey markets
- Community investment: $1.5 million contribution to Fulton Forward Foundation
- Customer continuity: Blue Foundry Bank customers continue banking as usual until conversion
Negative
- Full operational integration is delayed until a planned summer merger, postponing immediate synergies
Key Figures
Previous Acquisition Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Feb 23 | Merger approvals | Positive | -4.9% | Regulators and shareholders cleared the all-stock merger with Fulton Financial. |
| Nov 24 | Merger announcement | Positive | +40.0% | Fulton agreed to acquire Blue Foundry in an all-stock transaction. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Acquisition headlines have produced mixed reactions: the initial deal announcement saw a sharp gain, while later regulatory approvals coincided with a pullback.
Over the past several months, Blue Foundry’s story has centered on its all-stock merger with Fulton Financial. The deal was announced on Nov. 24, 2025, valuing Blue Foundry at about $243 million and offering 0.6500 Fulton shares per BLFY share. Regulatory and shareholder approvals were secured by Feb. 23, 2026, setting an expected close around Apr. 1, 2026. Today’s completion of the acquisition follows that timeline, transitioning Blue Foundry into Fulton’s expanding New Jersey footprint.
Key Terms
form 8-k regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Transaction Expands Fulton's Presence in Attractive New Jersey Markets
"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
Blue Foundry Bank is expected to operate as a separate, wholly owned subsidiary of Fulton until this summer, when Fulton plans to merge Blue Foundry Bank operations, systems and accounts into its existing banking subsidiary, Fulton Bank, N.A. ("Fulton Bank"). Until the bank merger and systems conversion occur, Blue Foundry Bank customers will continue to bank just as they have been at Blue Foundry Bank locations.
As previously announced and in connection with the acquisition, Fulton will make a
Additional information about the transaction is available in a Current Report on Form 8-K that is being filed by Fulton with the
About Fulton Financial Corporation
Headquartered in
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This communication contains "forward-looking statements." Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding the outlook and expectations of Fulton with respect to Fulton's acquisition of Blue Foundry (the "Transaction"), the strategic benefits and financial benefits of the Transaction, including the expected impact of the Transaction on Fulton's future financial performance. Forward-looking statements, by their nature, are subject to risks and uncertainties. There are many factors that could cause actual results to differ materially from expected results described in the forward-looking statements. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the business of Fulton, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Fulton's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. All forward-looking statements attributable to Fulton, or persons acting on Fulton's behalf, are expressly qualified in their entirety by the cautionary statements set forth below. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. Fulton undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Factors relating to the Transaction that could cause or contribute to actual results differing materially from those contained or implied in forward-looking statements or historical performance include, in addition to those factors identified elsewhere in this communication: the possibility that revenue or expense synergies and other expected benefits of the Transaction, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of the impact of, or challenges arising from, the integration of Blue Foundry into Fulton or as a result of the strength of the economy, competitive factors in the areas where Fulton and Blue Foundry do business, or as a result of other unexpected factors or events; reputational risks and potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the Transaction; diversion of management's attention and time from ongoing business operations and other opportunities on matters relating to the Transaction; unanticipated challenges or delays in the integration of Blue Foundry's business into Fulton's business and/or the conversion of Blue Foundry's operating systems and customer data onto Fulton's; and other factors that may affect future results of Fulton, including continued pressures and uncertainties within the banking industry and Fulton's markets, including changes in interest rates, price fluctuations as well as other market events, and deposit amounts and composition, increased competitive pressures, operational risks, asset and credit quality deterioration, the impact of proposed or imposed tariffs by the
These factors are not necessarily all of the factors that could cause Fulton's actual results, performance, or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other unknown or unpredictable factors also could harm Fulton's results.
Further information regarding Fulton and factors that could affect the forward-looking statements contained herein can be found in Fulton's Annual Report on Form 10-K for the year ended December 31, 2025, which is accessible on the SEC's website at www.sec.gov and in the Investor Relations section of Fulton's website at www.fultonbank.com, and in other documents Fulton files with the SEC. Information on these websites is not part of this document.
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INVESTOR CONTACT: Pat Lafferty (717) 327-2556
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SOURCE Fulton Financial Corporation