Blue Foundry Bancorp is the holding company for Blue Foundry Bank, a community savings bank headquartered in Parsippany, New Jersey, operating 20 branches across northern New Jersey. The bank's core business is originating real estate loans — primarily multifamily, residential mortgage, and commercial real estate — funded by retail and commercial deposits gathered from its local market. Blue Foundry earns revenue primarily through net interest income, the spread between interest earned on loans and securities and interest paid on deposits and borrowings. The bank has been executing a transformation from a traditional thrift, heavily concentrated in residential and multifamily mortgages, into a more commercially oriented community bank by growing owner-occupied commercial real estate, construction, and C&I loans, which carry higher yields and bring full banking relationships. Blue Foundry supplements organic loan growth by purchasing unsecured consumer loans to professionals from a national specialty lender. On the funding side, the bank is working to grow lower-cost core commercial deposits and reduce reliance on higher-cost CDs and brokered deposits. Blue Foundry has been unprofitable due to net interest margin compression relative to its expense base, though a significant portion of its multifamily portfolio is set to reprice higher in 2026. In November 2025, Blue Foundry entered into a merger agreement to be acquired by Fulton Financial in an all-stock deal valued at approximately $243M, with closing expected around April 1, 2026.