Blue Foundry Bancorp (BLFY)

A significant event was the announcement in November 2025 of its planned acquisition by Fulton Financial Corporation, leading to a surge in BLFY shares. The merger is anticipated to close in the second quarter of 2026, pending approvals, but legal firms have initiated investigations raising concerns about shareholder interests. Blue Foundry Bancorp has been working to reduce net losses, reporting sequentially reduced net losses for Q3 2025 and Q2 2025. The company has also been actively engaged in share repurchases, acquiring over 837,000 shares in Q3 2025 and 1.9 million shares in 2024, contributing to an increase in tangible book value per share.

Information explicitly detailing demand seasonality for Blue Foundry Bancorp's products and services is not available. Financial reports indicate deposit and loan growth, but do not specify any recurring seasonal patterns in demand.

Blue Foundry Bancorp operates as the bank holding company for Blue Foundry Bank, offering banking products and services such as deposit accounts and various loans, including real estate, home equity, and commercial loans. They also provide treasury management services. Originally Boiling Springs Bancorp, the company changed its name in July 2019 and was founded in 1939.

Blue Foundry Bancorp's geographic footprint is concentrated in northern New Jersey, operating through 17 to over 20 full-service branches across several counties, including Bergen, Essex, Hudson, Middlesex, Morris, Passaic, Somerset, and Union. The bank also engages in lending outside its immediate branch network in more densely populated areas to diversify its loan portfolio.

Blue Foundry Bank emphasizes a commitment to its customers and communities, with the Blue Foundry Charitable Foundation supporting philanthropic efforts in New Jersey. The Foundation has collaborated with organizations for toy and food drives. Ongoing legal investigations into the fairness of the merger with Fulton Financial Corporation could potentially impact its reputation among shareholders. Customer reviews show a mixed picture.

Blue Foundry Bancorp has significant institutional ownership, with 199 institutional owners holding a total of 15,283,254 shares, representing approximately 51-60% of the company's stock. Major institutional shareholders include T. Rowe Price Investment Management, Inc., BlackRock, Inc., Vanguard Group Inc, Dimensional Fund Advisors Lp, PRSVX - T. Rowe Price Small-Cap Value Fund, Inc., and Essex Financial Services, Inc. James D. Nesci, the President and CEO, is a notable individual shareholder, owning 213,296 shares.