LANCASTER, Pa. and RUTHERFORD, N.J., Feb. 23, 2026 (GLOBE NEWSWIRE) -- Fulton Financial Corporation ...







        
        

    



            







    
        
            February 23, 2026 08:30 ET
        

        
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                Blue Foundry Bancorp
            

        
    

    

    

    





        
LANCASTER, Pa. and RUTHERFORD, N.J., Feb.  23, 2026  (GLOBE NEWSWIRE) -- Fulton Financial Corporation (Nasdaq: FULT) (“Fulton”) and Blue Foundry Bancorp (Nasdaq: BLFY) (“Blue Foundry”) today jointly announced the receipt of all required regulatory approvals for the previously announced all-stock transaction pursuant to which Fulton will acquire Blue Foundry.  Regulatory approvals have been granted by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency. Blue Foundry’s stockholders approved the transaction on January 29, 2026.  “We are pleased to see such strong support from Blue Foundry stockholders and to have received the necessary regulatory approvals,” said Curtis J. Myers, Fulton Chairman, CEO and President. “These milestones bring us one step closer to uniting our organizations and deepening our impact across New Jersey.”  The transaction was announced on November 24, 2025 and is expected to be completed on or around April 1, 2026, pending the satisfaction or waiver of the remaining customary closing conditions set forth in the definitive merger agreement governing the transaction.  About Fulton Financial Corporation  Headquartered in Lancaster, Pa., Fulton Financial Corporation is a premier community banking organization and a $32 billion asset financial holding company providing a variety of financial services through its subsidiary bank, Fulton Bank, N.A. (“Fulton Bank”), in Pennsylvania, Maryland, Delaware, New Jersey and Virginia. At Fulton Financial Corporation, we seek to change lives for the better by building strong customer relationships, providing significant community support and empowering more than 3,300 employees to do the same. Through the Fulton Forward® initiative, we’re helping build vibrant communities. Learn more at www.FultonBank.com.  About Blue Foundry Bancorp  Blue Foundry Bancorp is the holding company for Blue Foundry Bank, a place where things are made, purpose is formed, and ideas are crafted. Headquartered in Rutherford, New Jersey, with a presence in Bergen, Essex, Hudson, Middlesex, Morris, Passaic, Somerset and Union counties, Blue Foundry Bank is a full-service, innovative bank serving the doers, movers, and shakers in our communities. We offer individuals and businesses alike the tailored products and services they need to build their futures. With a rich history dating back more than 145 years, Blue Foundry Bank has a longstanding commitment to its customers and communities. To learn more about Blue Foundry Bank visit BlueFoundryBank.com or call (888) 931-BLUE.  CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS  This communication contains “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “may,” “should,” “will,” “could,” “estimates,” “predicts,” “potential,” “continue,” “anticipates,” “believes,” “plans,” “expects,” “future,” “intends,” “projects,” the negative of these terms and other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding the outlook and expectations of Fulton and Blue Foundry with respect to the proposed business combination between Fulton and Blue Foundry (the “Proposed Transaction”), the strategic benefits and financial benefits of the Proposed Transaction, including the expected impact of the Proposed Transaction on Fulton’s future financial performance (including anticipated accretion to earnings per share and other metrics), and the timing of the closing of the Proposed Transaction. Forward-looking statements, by their nature, are subject to risks and uncertainties. There are many factors that could cause actual results to differ materially from expected results described in the forward-looking statements. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the businesses of Fulton and Blue Foundry, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Fulton’s and Blue Foundry’s control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. All forward-looking statements attributable to Fulton or Blue Foundry, or persons acting on Fulton’s or Blue Foundry’s behalf, are expressly qualified in their entirety by the cautionary statements set forth below. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. Fulton and Blue Foundry undertake no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  Factors relating to the Transaction that could cause or contribute to actual results differing materially from those contained or implied in forward-looking statements or historical performance include, in addition to those factors identified elsewhere in this communication:  The possibility that revenue or expense synergies and other expected benefits of the Proposed Transaction, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of the impact of, or challenges arising from, the integration of Blue Foundry into Fulton or as a result of the strength of the economy, competitive factors in the areas where Fulton and Blue Foundry do business, or as a result of other unexpected factors or events;The occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement governing the terms and conditions of the Proposed Transaction;The possibility that the Proposed Transaction may not be completed when expected or at all because required conditions to closing are not satisfied on a timely basis or at all;Reputational risks and potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the Proposed Transaction;The dilution caused by Fulton’s issuance of common stock in connection with the Proposed Transaction; diversion of management’s attention and time from ongoing business operations and other opportunities on matters relating to the Proposed Transaction;The outcome of any legal proceedings related to the Proposed Transaction which may be instituted against Fulton or Blue Foundry;Unanticipated challenges or delays in the integration of Blue Foundry’s business into Fulton’s business and or the conversion of Blue Foundry’s operating systems and customer data onto Fulton’s may significantly increase the expense associated with the Proposed Transaction; andOther factors that may affect future results of Fulton and Blue Foundry, including continued pressures and uncertainties within the banking industry and Fulton’s and Blue Foundry’s markets, including changes in interest rates, price fluctuations as well as other market events, and deposit amounts and composition, increased competitive pressures, operational risks, asset and credit quality deterioration, the impact of proposed or imposed tariffs by the U.S. government or retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers or any recession or slowdown in economic growth particularly in the markets in which Fulton or Blue Foundry operate, and legislative, regulatory, and fiscal policy changes and related compliance costs.  These factors are not necessarily all of the factors that could cause Fulton’s or Blue Foundry’s actual results, performance, or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other unknown or unpredictable factors also could harm Fulton’s or Blue Foundry’s results.  Further information regarding Fulton and Blue Foundry and factors that could affect the forward-looking statements contained herein can be found in Fulton’s Annual Report on Form 10-K for the year ended December 31, 2024, which is accessible on the Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov and in the Investor Relations section of Fulton’s website at www.fultonbank.com, and in other documents Fulton files with the SEC and in Blue Foundry’s Annual Report on Form 10-K for the year ended December 31, 2024, which is accessible on the SEC’s website at www.sec.gov and available in the Investor Relations section of Blue Foundry’s website at https://bluefoundrybank.com and in other documents Blue Foundry files with the SEC. Information on these websites is not part of this document. Fulton Media Contact: Lacey Dean, Director of Corporate Communications & Brand Management(717) 735-8688Fulton Investor Contact: Rick Kraemer, SEVP, Chief Financial Officer(717) 327-2657Blue Foundry Bancorp Investor Contact: Elyse D. Beidner, EVP, Investor Relations(201) 939-5000Blue Foundry Bancorp Contact: James D. Nesci, President and CEO(201) 972-8900   
            

BLFY

Fulton Financial Corporation and Blue Foundry Bancorp Announce Regulatory Approvals and Anticipated Merger Closing Date

Fulton Receives Approval for Acquisition of Blue Foundry Bancorp

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>LANCASTER, Pa. and RUTHERFORD, N.J., Feb. 23, 2026 (GLOBE NEWSWIRE) -- Fulton Financial Corporation ...</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Fulton Financial Corporation has secured regulatory approvals for its acquisition of Blue Foundry Bancorp, with stockholder approval already in hand. This transaction, anticipated to complete by April 1, 2026, is aimed at consolidating resources and increasing market impact in New Jersey, potentially enhancing long-term financial performance for both entities.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Regulatory approvals granted for Fulton’s acquisition of Blue Foundry.</li><li>Blue Foundry&#039;s shareholders approved the merger on January 29, 2026.</li><li>Transaction expected to close around April 1, 2026, pending conditions.</li><li>Fulton aims to enhance impact in New Jersey through this merger.</li><li>Key management emphasizes strategic and financial benefits from the combination.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Fulton Financial Corporation (FULT)</strong>: Acquiring BLFY, aiming for strategic benefits.</li><li><strong>Blue Foundry Bank (BLFY)</strong>: Will merge into FULT, enhancing service offerings.</li></ul>
  </section>

  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>This news falls under &#039;M&amp;A&#039; as it involves an acquisition of Blue Foundry by Fulton. Such transactions typically focus on strategic growth and expanding market share within the banking sector, which could lead to increased market confidence and stock price performance for both entities.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Completion of the transaction could lead to significant valuation adjustments for BLFY.</li><li>Regulatory approval reduces risks associated with the merger process.</li><li>Increased operational scale may enhance earnings projections post-merger.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Regulatory approvals received from the Federal Reserve and the OCC.</li><li>Stockholders of Blue Foundry approved the merger on January 29, 2026.</li><li>Deal announced on November 24, 2025, expected to close by April 1, 2026.</li><li>Fulton Financial Corporation manages over $32 billion in assets.</li><li>Blue Foundry has roots extending over 145 years in banking.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>We expect BLFY shares to rise as the acquisition progresses toward completion.</p>
  </section>
</section>


<article>
    <h2>Fulton Financial Corporation and Blue Foundry Bancorp Secure Regulatory Approvals for Merger</h2>
    <p>LANCASTER, Pa. and RUTHERFORD, N.J., Feb. 23, 2026 (GLOBE NEWSWIRE) — Fulton Financial Corporation (Nasdaq: FULT) and Blue Foundry Bancorp (Nasdaq: BLFY) have announced significant progress in their merger process, receiving all necessary regulatory approvals for their all-stock acquisition. This move marks a pivotal moment in the anticipated merger, which has been officially backed by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency.</p>
    
    <section>
        <h3>Transaction Overview</h3>
        <p>Blue Foundry Bancorp’s stockholders voted in favor of the merger on January 29, 2026, empowering both companies to take this critical step. Curtis J. Myers, Chairman, CEO, and President of Fulton, expressed satisfaction with this development, stating, <em>“We are pleased to see such strong support from Blue Foundry stockholders and to have received the necessary regulatory approvals. These milestones bring us one step closer to uniting our organizations and deepening our impact across New Jersey.”</em></p>
        
        <p>The merger was initially announced on November 24, 2025, with an expected completion date around April 1, 2026, pending the fulfillment of customary closing conditions.</p>
    </section>
    
    <section>
        <h3>Company Profiles and Impact</h3>
        <p>Fulton Financial Corporation, located in Lancaster, Pennsylvania, is a leading community banking organization with total assets of approximately <strong>$32 billion</strong>. The company operates through Fulton Bank, N.A. in five states, which include Pennsylvania, Maryland, Delaware, New Jersey, and Virginia. Fulton aims to strengthen customer relationships and enhance community support through its initiatives.</p>
        
        <p>Blue Foundry Bancorp, headquartered in Rutherford, New Jersey, serves as the holding company for Blue Foundry Bank. This institution has a deep-rooted presence in multiple New Jersey counties, effectively providing innovative financial solutions tailored for local communities. Their commitment to customer service reflects in the bank's over <strong>145 years</strong> of operational history.</p>
    </section>
    
    <section>
        <h3>Looking Ahead: Financial Expectations</h3>
        <p>The proposed merger between Fulton and Blue Foundry is poised to create substantial strategic advantages. Both organizations anticipate that the combination will enhance their financial performance and expand service offerings. Analysts have noted the potential for improved efficiency and revenue synergies as a result of this merger, although caution remains regarding market fluctuations and integration challenges.</p>
        
        <p>As with any merger, there are inherent risks. Potential factors that may influence the success of this transaction include:</p>
        <ul>
            <li>Realization of revenue or expense synergies as projected.</li>
            <li>Timeliness of closing conditions being satisfied.</li>
            <li>Possible reputational risks arising from employee and customer relations during the merger process.</li>
            <li>Market conditions, including interest rate changes that could affect future results.</li>
        </ul>
    </section>
    
    <section>
        <h3>Cautionary Note Regarding Forward-Looking Statements</h3>
        <p>This announcement contains <strong>forward-looking statements</strong> regarding the anticipated merger and expected benefits. However, the actual results may differ materially due to risks and uncertainties associated with the banking industry, including economic fluctuations, competitive dynamics, and operational challenges. Stakeholders are advised not to rely heavily on these statements as definitive indicators of future performance.</p>
    </section>
</article>

Fulton Financial Corporation has secured regulatory approvals for its acquisition of Blue Foundry Bancorp, with stockholder approval already in hand. This transaction, anticipated to complete by April 1, 2026, is aimed at consolidating resources and increasing market impact in New Jersey, potentially enhancing long-term financial performance for both entities.

Fulton Financial Corporation and Blue Foundry Bancorp Announce Regulatory Approvals and Anticipated Merger Closing Date

Information

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

M&A

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