Fulton Bank acquires Blue Foundry Bank

Fulton Financial Corporation is set to expand its footprint in New Jersey following regulatory approval of its acquisition of Blue Foundry Bancorp. This transaction, valued at approximately $243 million, underscores Fulton's strategic push to increase its market presence in the mid-Atlantic region.

The acquisition, first announced in November 2025, involves an all-stock transaction. Fulton, a financial holding company with $32 billion in assets, has secured the necessary approvals from the Federal Reserve and the Office of the Comptroller of the Currency. Blue Foundry’s stockholders consented to the merger in January 2026. Curtis J. Myers, Fulton’s Chairman, CEO, and President, noted the strong support from Blue Foundry stakeholders and the regulatory green light, which propels the deal towards completion by early April 2026, contingent on final customer closing conditions.

For Fulton Financial, this acquisition aligns with its strategic goals, potentially extending its service reach and bolstering its competitive position in New Jersey. Headquartered in Lancaster County, Pennsylvania, Fulton serves clientele across five states, including Maryland, Delaware, Virginia, and now, further leveraging its presence in New Jersey.

The banking sector, facing consolidation pressures, sees this move as part of a broader trend of regional banks scaling operations to drive efficiencies and expand their customer base. As larger national banks dominate the market, regional players like Fulton are increasingly pursuing acquisitions to stay competitive amid tightening margins and heightened regulatory landscapes.

The transaction’s completion is anticipated around April 2026, following the satisfaction of remaining closing conditions. This timeline positions Fulton for integration during a period of robust economic activity, offering potential revenue synergies and expanded service offerings across its combined geographic footprint. The market will closely watch how Fulton capitalizes on its strengthened regional stance to capture further growth in the evolving banking landscape.