Blue Foundry Bancorp reported a net loss of $10.0 million for the fiscal year ending December 31, 2025, a slight improvement from the $11.9 million loss recorded in the previous year. The company's total assets increased to $2.17 billion, up from $2.06 billion in 2024, driven by a $107.1 million rise in gross loans, which reached $1.69 billion. This growth was primarily attributed to increases in consumer loans and commercial real estate loans, while multifamily and construction loans saw declines. Interest income rose by 11.5% to $95.3 million, largely due to higher loan balances and yields, while interest expense remained stable at $47.9 million.
The company’s provision for credit losses increased to $2.1 million in 2025, compared to a release of $1.4 million in 2024, reflecting a slight rise in non-performing loans, which totaled $11.4 million or 0.55% of total assets. The allowance for credit losses on loans was $14.4 million, representing 0.85% of total loans. Non-interest income remained relatively stable at $1.7 million, while non-interest expenses increased by 8.3% to $57.0 million, influenced by merger-related costs and higher compensation expenses.
In terms of strategic developments, Blue Foundry Bancorp announced a merger agreement with Fulton Financial Corporation on November 24, 2025, under which Fulton will acquire all outstanding shares of Blue Foundry for an all-stock transaction. The merger is expected to be completed around April 1, 2026, pending customary closing conditions. The company has also been focusing on enhancing its technology and infrastructure to improve service delivery and expand its market presence.
As of December 31, 2025, Blue Foundry Bancorp employed 189 individuals, a slight increase from 184 in the previous year. The company continues to prioritize employee development and diversity, with approximately 59% of its workforce being women. Looking ahead, Blue Foundry Bancorp aims to strengthen its position in the community banking sector while navigating the challenges posed by market conditions and regulatory requirements. The company remains committed to maintaining adequate capital levels, having exceeded all regulatory capital requirements as of the end of 2025.
About Blue Foundry Bancorp
Blue Foundry Bancorp is a Delaware-based bank holding company owning Blue Foundry Bank, a New Jersey-chartered savings bank. The bank primarily originates residential, multifamily, commercial real estate, construction, commercial and industrial loans, and home equity products, serving individuals and businesses in northern New Jersey. It funds lending through retail deposits and borrowings, emphasizing personalized service, local market knowledge, and diversified loan portfolios within a regulated banking framework.
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