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After securing approvals for the merger in February, Blue Foundry Bancorp is officially now part of Fulton Financial Corp.

Lancaster, Pa.-based Fulton announced completing its acquisition of Rutherford-based Blue Foundry April 1. When it was announced, the partners valued the deal at approximately $243 million.

The closing advances Fulton’s growth plan in “an important market” while also establishing a $34 billion financial services company.

“We are excited to welcome Blue Foundry Bank customers, employees and shareholders to the Fulton family! Completing the acquisition of Blue Foundry Bancorp marks an exciting milestone,” said Curt Myers, Fulton chairman, CEO and president.

He added, “Expanding our presence in New Jersey allows us to deepen our impact and continue changing lives for the better in the communities we serve.”

According to the announcement, Foundry Bank will operate as a separate, wholly-owned subsidiary until this summer. At that time, Fulton said it plans to merge the target’s operations, systems and accounts into its existing Fulton Bank NA subsidiary. Banking will remain unchanged for Blue Foundry customers until that conversion.

Fulton now boasts $34 billion in assets and serves customers in Pennsylvania, Maryland, Delaware, New Jersey and Virginia. Its team includes more than 3,500 employees.

In April 2024, the financial institution expanded with its acquisition of Republic First Bank.

In connection with this latest deal, Fulton will make a $1.5 million contribution to Fulton Forward Foundation. The contribution will go toward providing impact gifts to nonprofits in New Jersey.

Announced last November, the Fulton/Blue Foundry merger kickstarted a string of transactions on the local banking scene. In December, OceanFirst said it would buy Flushing Bank in a deal valued at $579 million. Then in February 2026, Columbia and Northfield banks revealed their plans for a $597 million merger.

Both the OceanFirst/Flushing and Columbia/Northfield combinations earned distinction as two of the largest U.S. bank deals announced last year, according to S&P Global.

In its reporting on rising merger activity ahead in 2026, Yahoo Finance cited a favorable regulatory environment and faster approvals as beneficial. However, the Iran war and other geopolitical impacts could derail that trajectory.