MORRIS COUNTY — Fulton Financial Corporation and Blue Foundry Bancorp have jointly announced that they have received all required regulatory approvals for their previously announced merger agreement, clearing a major hurdle toward finalizing the transaction.
Under the terms of the definitive agreement, first announced on November 24, 2025, Fulton will acquire Blue Foundry in an all-stock transaction. Each share of Blue Foundry common stock will be exchanged for 0.6500 shares of Fulton common stock.
Based on Fulton’s closing share price of $17.96 on November 21, 2025, the transaction is valued at approximately $243 million, or $11.67 per share of Blue Foundry common stock.
Regulatory approvals were granted by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency. In addition, Blue Foundry’s stockholders overwhelmingly approved the transaction at a special meeting held on January 29.
“Joining forces with Fulton is an exciting step forward for our employees, customers and communities,” said James D. Nesci, President and Chief Executive Officer of Blue Foundry, when the transaction was announced. “This partnership allows us to preserve the local relationships and personalized service our customers value while gaining access to greater resources and providing more solutions and convenience to customers.”
Curtis J. Myers, Chairman, Chief Executive Officer and President of Fulton, also expressed optimism following the regulatory approvals.
“We are pleased to see such strong support from Blue Foundry stockholders and to have received the necessary regulatory approvals,” Myers said. “These milestones bring us one step closer to uniting our organizations and deepening our impact across New Jersey.”
The merger is expected to close on or around April 1, 2026, subject to the satisfaction or waiver of the remaining customary closing conditions outlined in the definitive merger agreement.
Once completed, the transaction is expected to strengthen Fulton’s presence in New Jersey, combining Blue Foundry’s established community banking relationships with Fulton’s broader financial resources and expanded product offerings. The combined organization aims to enhance customer convenience while maintaining the community-focused approach that both institutions have emphasized.
The completion of this merger marks a significant development in New Jersey’s banking landscape, positioning the combined company for continued growth and expanded service throughout the region.
In Morris County, Fulton Bank currently operates branches in Rockaway and Netcong, strengthening its footprint in the western portion of the county. Blue Foundry Bank maintains locations in Florham Park, Montville (Towaco), and Lincoln Park within Morris County, along with additional branches in Chatham, Clifton, Dunellen, Glen Ridge, Glen Rock, Hackensack, Lyndhurst, Mahwah, Rochelle Park, Union, and Wyckoff. The combined network will significantly expand Fulton’s presence across Northern New Jersey while preserving Blue Foundry’s established community banking relationships.
