Fulton, Blue Foundry Announce All-Stock Merger Valued At $243 Million

• According to Fulton's share price of $17.96 as of November 21, the transaction is valued at about $243 million, or $11.67 per share of Blue Foundry common stock.
• The companies said that the transaction is expected to close in the second quarter of 2026.
• Blue Foundry CEO James D. Nesci said that the deal helps gain access to greater resources and provides more solutions and convenience to customers.

Blue Foundry Bancorp (BLFY) and Fulton Financial Corp (FULT) announced that they have entered into a definitive merger agreement wherein Fulton will acquire Blue Foundry in an all-stock transaction.

The companies said that under the terms of the deal, each share of Blue Foundry common stock will be exchanged for 0.6500 shares of Fulton common stock. According to Fulton's share price of $17.96 as of November 21, the transaction is valued at about $243 million, or $11.67 per share of Blue Foundry common stock.

Details Of The Merger

Fulton said the transaction is expected to be accretive to first full-year earnings by over 5% and to be immediately accretive to tangible book value per share.

The companies said that the transaction is expected to close in the second quarter of 2026. After the deal closes, Blue Foundry Bank, the wholly-owned subsidiary of Blue Foundry, will merge into Fulton Bank, the wholly owned bank subsidiary of Fulton, with Fulton Bank as the surviving bank.

Executive Take

Blue Foundry CEO James D. Nesci said that the deal helps gain access to greater resources and provides more solutions and convenience to customers.

"The combination of our companies creates an opportunity to leverage Fulton's robust banking services and provide greater convenience and innovative solutions to an expanded customer base, with a continued focus on supporting our local communities,” said Curtis J. Myers, Fulton Chairman and CEO.

How Did Stocktwits Users React?

Blue Foundry was the top trending ticker on Stocktwits. Retail sentiment on Blue Foundry jumped to ‘extremely bullish’ from ‘neutral’ territory compared to a day ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.

Retail sentiment on Fulton remained unchanged in the ‘neutral’ territory, with message volumes at ‘normal’ levels. Shares of Fulton have declined nearly 20% in the last 12 months, while Blue Foundry stock has fallen 2% in the same period.

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