Corporate Overview

Blue Foundry Bancorp (the “Company”) is a Delaware corporation and the holding company for Blue Foundry Bank, a New Jersey-chartered stock savings bank headquartered in Rutherford, New Jersey that operates 16 branches in Bergen, Morris, Essex and Passaic Counties, New Jersey and two new proposed de novo branches in Hoboken and Jersey City, New Jersey. At December 31, 2020, Blue Foundry Bank had assets of $1.94 billion, deposits of $1.36 billion and total shareholders’ equity of $205.6 million.

Blue Foundry Bank was formed in 1939 as Boiling Springs Savings & Loan Association through the combination of the Rutherford Mutual Loan and Building Association (which had been founded in 1876 to provide thrift and home financing services to a growing community) and the East Rutherford Savings, Loan and Building Association.

In 1999, the Bank reorganized into the mutual holding company form of organization and in 2019, the Bank’s name was changed to Blue Foundry Bank. In 2021, Blue Foundry Bank’s mutual holding company, Blue Foundry, MHC, was converted to the stock holding company form of organization after which Blue Foundry Bank became the wholly-owned subsidiary of the Company.

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