Regulatory Alerts2026-02-19
Federal Reserve Board Approves Fulton Financial Corporation's Acquisition of Blue Foundry Bancorp
The Federal Reserve Board approved Fulton Financial Corporation’s application to acquire Blue Foundry Bancorp and its subsidiary, Blue Foundry Bank, under Section 3 of the Bank Holding Company Act. The Board determined that the combined entity maintains adequate capital, managerial competence, and CRA compliance while posing no significant anticompetitive effects in the Metro New York City market. Despite two adverse comments concerning potential redlining and branch closures in New Jersey, the Board concluded that Fulton’s financial resources and integration plans satisfy all statutory convenience and needs requirements.
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