Overview
- Blue Foundry investors will receive 0.6500 Fulton shares per share, implying $11.67 based on Fulton's Nov. 21 price.
- Both boards unanimously approved the merger, which targets a second-quarter 2026 closing pending regulatory and shareholder approvals, after which Blue Foundry Bank will merge into Fulton Bank, N.A.
- Fulton expects the transaction to lift first full-year earnings by more than 5%, be immediately accretive to tangible book value, and keep regulatory capital ratios neutral at closing.
- Fulton will commit $1.5 million to the Fulton Forward Foundation to fund impact grants for New Jersey nonprofits.
- Blue Foundry shares jumped roughly 39% to about $11 after the announcement, with reporting noting the seller’s recent losses and a price equal to about 77% of tangible book value.