Fulton Financial Corporation has completed its acquisition of Rutherford-based Blue Foundry Bancorp, making it a $34 billion financial services company.
The deal was announced in November.
Blue Foundry Bank is expected to operate as a separate, wholly owned subsidiary of Fulton until Fulton merges Blue Foundry Bank operations, systems, and accounts into its existing banking subsidiary, Fulton Bank, N.A., this summer.
Meanwhile, Blue Foundry Bank customers will continue to bank as they have been at Blue Foundry Bank locations until the bank merger and systems conversion occur.
“Expanding our presence in New Jersey allows us to deepen our impact and continue changing lives for the better in the communities we serve,” Curt Myers, Fulton Chairman, CEO and President, said in a release.
Additionally, Lancaster, Pa.-based Fulton will make a $1.5 million contribution to the Fulton Forward® Foundation—designated to provide impact gifts to New Jersey nonprofit community organizations.
