M&A · Financials · Savings Institutions, Not Federally Chartered
Fulton Financial Corp to acquire Blue Foundry Bancorp
Announced Nov 24, 2025 · Closed Apr 1, 2026
Deal value$243M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock$11.67 per share
Transaction
- Acquirer
- Fulton Financial Corp (FULT)
- Target
- Blue Foundry Bancorp (BLFY)
- Buyer type
- Strategic
- Offer price per share
- $11.67
- Enterprise value
- —
- Status
- Closed Apr 1, 2026
Deal protections
- Break fee (target pays)
- $9.7M · 4.0%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Stephens
- To the target
- Piper Sandler
Sector context · Financials
- Comparable deals
- 62 in the prior 24 months
- Premium
- Sector median 37.0%
- EV / Adj. EBITDA
- Sector median 13.1x
- Break fee
- 4.0% vs. 3.7% sector median
Timeline
- AnnouncedNov 24, 2025
- Proxy filedDec 23, 2025
- Definitive proxyDec 23, 2025
- Shareholder voteJan 29, 2026
- ClosedApr 1, 2026
Valuation · fairness opinions
Precedent transactions$3.49$6.22
Precedent transactions$5.23$12.41
Precedent transactions$14.66$29.18
Precedent transactions$14.32$27.24
Offer $11.67
Implied value per Blue Foundry Bancorp share by analysis · DCF discount rate 9%–13%.