BLFY

Blue Foundry Bancorp is a bank holding company headquartered in Rutherford, New Jersey, operating through its wholly owned subsidiary Blue Foundry Bank (formerly Boiling Springs Savings Bank). The bank provides commercial and retail banking services to businesses, professionals, and individuals primarily in Northern New Jersey. Founded in 1887 and reorganized as a mutual holding company in 2021, Blue Foundry has deep roots serving its local communities while evolving from a traditional mutual savings institution toward a modern commercial bank operating structure. Blue Foundry Bank offers a comprehensive range of banking products including commercial real estate and business loans, residential mortgages, construction financing, business lines of credit, SBA lending, and consumer loans. The loan portfolio reflects a commercial banking focus with significant concentrations in commercial real estate and business lending throughout Northern New Jersey. On the deposit side, the bank provides checking and savings accounts, money market accounts, certificates of deposit, and digital banking services. The bank has been expanding treasury management capabilities including remote deposit capture, ACH services, and merchant solutions designed for business clients. The bank serves the densely populated and economically diverse Northern New Jersey market, including Bergen County and surrounding areas, which benefit from proximity to New York City and strong business activity. Blue Foundry differentiates through local market expertise, relationship banking, responsive service, and modernizing technology capabilities. The bank has pursued strategic repositioning from a traditional thrift toward a full-service commercial bank, expanding commercial lending, treasury management, and business banking capabilities. Blue Foundry competes against larger regional and national banks, community banks, and credit unions. The company's mutual holding company structure provides flexibility for future capital raising and strategic transactions while maintaining the community banking focus that has defined the institution for over 135 years. Success depends on prudent credit underwriting, generating profitable loan and deposit growth, managing interest rate risk, controlling expenses, and competing effectively in competitive Northern New Jersey banking markets.