On November 24, 2025, Blue Foundry Bancorp, Rutherford, New Jersey, and Fulton Financial Corporation, Lancaster, Pennsylvania, announced the execution of a merger agreement pursuant to which Blue Foundry will merge with and into Fulton Financial in an all-stock transaction valued at approximately $243 million.

Blue Foundry is the holding company for Blue Foundry Bank and has approximately $2.2 billion in assets. Blue Foundry Bank conducts its operations from its banking offices located in Bergen, Essex, Hudson, Middlesex, Morris, Passaic, Somerset and Union Counties, New Jersey.

Fulton Financial is the holding company for Fulton Bank and has approximately $32.0 billion in assets. Fulton Bank conducts its operations in Pennsylvania, Maryland, Delaware, New Jersey and Virginia.

Luse Gorman is serving as legal counsel to Blue Foundry in the transaction. The Luse Gorman team consists of John Gorman, Marc Levy, Zac Davis, Tom Hutton and Brendan Clegg.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and on more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.