Blue Foundry Bancorp Launches Sixth Repurchase Program for 1.08M Shares

Rhea-AI Filing Summary

Blue Foundry Bancorp (BLFY) filed a Form 8-K dated June 23, 2025 announcing its sixth share-repurchase program.

The Board has authorized the Company to buy back up to 1,082,533 common shares, representing approximately 5 % of shares outstanding. The program began on June 20, 2025 and carries no stated expiration.

Repurchases may be executed on the open market, through private or block transactions, or via Rule 10b5-1 trading plans. Management retains full discretion to suspend, modify or terminate the program at any time, citing factors such as market conditions, pricing, liquidity and alternative capital uses.

No financial statements were required, and the Company did not commit to repurchasing a specific number of shares within a set timeframe. Exhibit 99.1 contains the corresponding press release, which is incorporated by reference.

Positive

• Authorization to repurchase up to 1,082,533 shares, or ~5 % of outstanding common stock, potentially supporting share value if executed
• No expiration date grants management ongoing flexibility to return capital when market conditions are favorable

Negative

• Absent cost limits and funding details raise uncertainty about potential effect on liquidity and alternative capital needs

Insights

Financial Analyst

TL;DR BLFY authorizes 1.08 M-share buyback (~5 %), flexible execution, no expiry—supportive for per-share metrics if completed.

Detail: The sixth authorization expands cumulative buyback capacity, covering roughly one-twentieth of the float. An open-ended structure and multiple execution channels provide management tactical flexibility. While the filing lacks dollar limits or funding sources, repurchases of this magnitude can incrementally raise EPS and signal confidence. Investors should monitor weekly Rule 10b-18 data to gauge actual uptake.

Risk Analyst

TL;DR Flexible buyback aids capital return but could tighten liquidity; overall moderate impact.

The filing does not disclose cost ceilings or capital allocation priorities, leaving uncertainty about cash usage versus growth investments. Management’s option to halt the program mitigates downside, yet the lack of an expiry date requires ongoing monitoring of capital ratios and regulatory capital thresholds.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): June 18, 2025

BLUE FOUNDRY BANCORP

(Exact Name of Registrant as Specified in its Charter)

Delaware			001-40619						86-2831373
(State or Other Jurisdiction)			(Commission File No.)						(I.R.S. Employer
of Incorporation)									Identification No.)
19 Park Avenue, Rutherford, New Jersey									07070
(Address of Principal Executive Offices)									(Zip Code)

Registrant’s telephone number, including area code: (201) 939-5000

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

BLFY

The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01 Other Events

On June 23, 2025, Blue Foundry Bancorp (the “Company”) issued a press release announcing the authorization and adoption of the Company's sixth repurchase program to repurchase up to 1,082,533 shares of its common stock, which is approximately 5% of its outstanding common stock. The program commenced on June 20, 2025.

Shares of Company common stock may be repurchased in open market or private transactions, through block trades, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission. The new repurchase program has no expiration date.

The timing and amount of share repurchases under the new repurchase program may be suspended, terminated or modified by the Company at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Company is not obligated to repurchase any particular number of shares or any shares in any specific time period.

A copy of the press release announcing the stock repurchase program is included as exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(a)    Financial Statements of Businesses Acquired. Not applicable.

(b)    Pro Forma Financial Information. Not applicable.

(c)    Shell Company Transactions. Not applicable.

(d)    Exhibits.

99.1			Press release issued by the Company on June 23, 2025 announcing the adoption of a new stock repurchase program
104			Cover Page Interactive Data File (embedded within the inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

			Blue Foundry Bancorp
DATE: June 23, 2025			By:			/s/ James D. Nesci
						James D. Nesci
						President and Chief Executive Officer

FAQ

How many Blue Foundry Bancorp (BLFY) shares can be repurchased under the new program?

Up to 1,082,533 common shares, roughly 5 % of the shares outstanding.

When did Blue Foundry’s sixth share repurchase program start?

The program commenced on June 20, 2025.

Does the BLFY buyback program have an expiration date?

No. The Company stated that the program has no expiration date.

How may Blue Foundry execute the share repurchases?

Repurchases may occur in open-market, private or block trades, or via Rule 10b5-1 trading plans.

Can Blue Foundry suspend or change the repurchase plan?

Yes. Management can suspend, terminate or modify the program at any time based on market or liquidity considerations.