On July 15, 2021, Blue Foundry, MHC, Rutherford, New Jersey, completed its conversion from the mutual holding company to the stock holding company form of organization. Concurrently with the conversion, Blue Foundry Bancorp (the “Company”), the newly formed holding company for Blue Foundry Bank, completed its initial public offering selling 27,772,500 shares of its common stock at $10.00 per share. The Company also contributed 750,000 shares of common stock and $1.5 million in cash to Blue Foundry Charitable Foundation, Inc., a charitable foundation formed in connection with the conversion. The Company’s common stock trades on the Nasdaq Global Select Market under the trading symbol “BLFY.”

Luse Gorman served as legal counsel to Blue Foundry in the conversion and stock offering. The Luse Gorman team included John Gorman, Marc Levy, Zachary Davis, Thomas Hutton and Brendan Saxon.

Blue Foundry Bancorp has $1.96 billion in assets and operates from 16 offices in northern New Jersey.

Since 2000, Luse Gorman has been the leading law firm in the United States in mutual holding company transactions and mutual-to-stock conversions, based on number of transactions. Click here to learn more about our capital markets and corporate finance services.