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what it is
Blue Foundry is a New Jersey bank that makes loans, gathers deposits, and now plans to disappear into Fulton Financial.
how it gets paid
Last year Blue Foundry Bancorp made $85M in revenue. one-to-four family mortgages was the main engine at $25.5M, or 30% of sales.
what just happened
Latest Revenue came in at $70M, but EPS still landed at -$0.33.
At a glance
C++ balance sheet — some cracks in the foundation
-$0.55 fy2024 eps est
$2B fy2026 rev est
1 beta
~$264M market cap
xvary composite: 40/100 — below average
What they do
Blue Foundry is a New Jersey bank that makes loans, gathers deposits, and now plans to disappear into Fulton Financial.
This is not a scale story. Blue Foundry had 184 employees and $1.49 million in deposits as of September 30, 2025, so it wins by knowing local borrowers better than bigger banks do. If you are a customer, that can mean faster decisions on one-to-four family, multi-family, and commercial real estate loans, but the pending all-stock sale says the edge was not strong enough to stay independent.
How they make money
$85M
annual revenue
one-to-four family mortgages
$25.5M
multi-family mortgages
$17.0M
non-residential real estate loans
$21.3M
home equity loans and lines
$8.5M
construction and commercial loans
$12.7M
The products that matter
consumer and commercial banking
blue foundry bank
$44.7M trailing revenue
it's the sole operating subsidiary and the source of the company's $44.7M in trailing revenue. If the deal breaks, this is the business you actually own.
entire operating business
capital return program
share repurchase activity
treasury stock down 31%
treasury stock shrank 31% over the last year, showing management was buying back shares even while the core bank remained unprofitable.
capital allocation signal
Key numbers
0.6500x
exchange ratio
Each Blue Foundry share converts into 0.6500 Fulton shares if the merger closes, so your upside now tracks Fulton more than Blue Foundry's standalone story.
$9M
long-term debt
Long-term debt is just $9 million, or 3% of capital, which means leverage is low even though earnings were still negative.
$0.55
fy2024 eps
The bank lost $0.55 per share in 2024, worse than the -$0.31 posted in 2023, so the standalone business was moving backward.
$85M
annual revenue
EDGAR shows about $85 million in annual revenue, which makes the roughly $264 million market cap equal to about 3.1 times sales.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 60 / 100
- long-term debt $9M (3% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for BLFY right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Latest Revenue came in at $70M, but EPS still landed at -$0.33.
The revenue figure in the provided data is unusually high against the $85 million annual figure and the $12.61 million quarterly figure from supplementary sources. The cleaner read is simple: revenue moved around, but profitability stayed negative.
$70M
revenue
$0.33
eps
n/a
n/a
the number that mattered
EPS of -$0.33 mattered most because a bank in a sale process still showed ongoing losses.
source: company earnings report, 2026
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What could go wrong
The #1 risk is the Fulton merger failing or slipping. If that happens, you are left evaluating an unprofitable bank with a bottom-tier sector rank instead of a near-term deal outcome.
high
merger failure
The core thesis is the sale to Fulton Financial. If the transaction fails, the stock stops being a merger situation and goes back to trading on weak standalone fundamentals.
You lose the deal framework and revert to a bank with a -20.58% profit margin and a 816 / 880 sector rank.
med
standalone profitability stays weak
Q3 2025 revenue was $12.61M and beat estimates, but EPS was still -$0.10. That tells you the revenue line can improve without fixing the earnings problem.
The operating bank generated $44.7M in trailing revenue, and the current margin profile still destroys value.
med
sale-process litigation
Shareholder lawsuits allege the board did not run a fair sale process. Even if these claims do not kill the deal, they can complicate timing and create headline risk.
Timing matters because april 1, 2026 is the anchor date investors are trading around.
This risk stack touches the entire investment case because the entire investment case is the transaction.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
expected closing date
The merger with Fulton Financial is expected to close on or around april 1, 2026. If that date moves, the stock story changes fast.
metric
EPS stays negative
Q3 2025 EPS was -$0.10. A bank can beat revenue and still fail the only test that matters here: earning its cost of capital.
risk
sale-process litigation
The lawsuits are not background noise. This is a transaction-driven stock, so legal friction is business risk, not side drama.
trend
net interest income mix
$36.8M of the $44.7M revenue base comes from net interest income. If that mix weakens, the standalone case gets even thinner.
Analyst rankings
xvary composite
40 / 100
Below average overall. In human-speak: the numbers do not make a strong standalone case.
sector position
816 / 880
This sits near the back of the pack among finance names. You're not buying quality leadership here.
beta
1.0
Beta: 1.0. In human-speak, it trades roughly with the market. The real swing factor is the merger, not daily volatility math.
source: institutional data
Institutional activity
institutional ownership data for BLFY is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$13
current price
n/a
target midpoint · n/a from current
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