09:37 AM EST, 11/24/2025 (MT Newswires) -- Fulton Financial ( FULT ) agreed to acquire Blue Foundry Bancorp ( BLFY ) in an all-stock deal valued at about $243 million or $11.67 per Blue Foundry common share, based on Fulton's share price of $17.96 as of Nov. 21, the companies said Monday.

Under the terms of the agreement, each Blue Foundry share will be exchanged for 0.6500 Fulton share, according to the companies.

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

Blue Foundry unit Blue Foundry Bank will merge into Fulton unit Fulton Bank after deal completion, which is expected to occur in Q2 of 2026, the companies said.

Shares of Fulton were down over 1%, while those of Blue Foundry were up 37% in recent trading.