Office Space
Crunching Numbers, Breakdown and On the Move
Crunching Numbers
$900 million
The amount saved over a five-year period on utility bills by 480,000 PSE&G customers who participated in the company’s energy efficiency programs, according to its recent Clean Energy Future-Energy Efficiency report.
The amount saved over a five-year period on utility bills by 480,000 PSE&G customers who participated in the company’s energy efficiency programs, according to its recent Clean Energy Future-Energy Efficiency report.
871
The number of layoffs expected as Amazon has shuttered all four of its Amazon Fresh grocery stores in New Jersey.
The number of layoffs expected as Amazon has shuttered all four of its Amazon Fresh grocery stores in New Jersey.
5
The percentage of Horizon Blue Cross Blue Shield of New Jersey’s workforce that is being laid off, totaling 242 employees across the country.
The percentage of Horizon Blue Cross Blue Shield of New Jersey’s workforce that is being laid off, totaling 242 employees across the country.
12
The number of New Jersey hospitals ranked by Healthgrades as tops in the nation based on procedural outcomes and overall patient experience.
The number of New Jersey hospitals ranked by Healthgrades as tops in the nation based on procedural outcomes and overall patient experience.
$500,000
The amount that South Jersey Gas and Elizabethtown Gas donated to SHARES, a nonprofit that provides help and referral for essential services to those in need.
$85 million
The total in tax credits being purchased by 10 corporations to help boost the New Jersey Innovation Evergreen Fund, following an approval by the New Jersey Economic Development Authority.
Breakdown
Fulton Financial Corporation and Blue Foundry Bancorp have announced a definitive merger agreement, pursuant to which Fulton will acquire Blue Foundry in an all-stock transaction.
Fulton Financial Corporation and Blue Foundry Bancorp have announced a definitive merger agreement, pursuant to which Fulton will acquire Blue Foundry in an all-stock transaction.
What Happened: It was announced last month that the boards of directors for both Fulton and Blue Foundry unanimously approved the agreement. Under the agreement’s terms, each share of Blue Foundry common stock will be exchanged for 0.6500 shares of Fulton common stock; based on Fulton’s Nov. 21 share price of $17.96, the transaction is valued at approximately $243 million, or $11.67 per share of Blue Foundry common stock. The transaction is expected to be accretive to first full-year earnings by over 5%, immediately accretive to tangible book value per share and neutral to regulatory capital ratios at close.
What It Means: The announcement notes that this accelerates Fulton’s growth efforts in New Jersey. “We’re bringing together two community-focused banks with shared values and a strong commitment to making banking personal for each and every customer,” said Curtis J. Myers, Fulton’s chairman and CEO. “The combination of our companies creates an opportunity to leverage Fulton’s robust banking services and provide greater convenience and innovative solutions to an expanded customer base, with a continued focus on supporting our local communities. The expansion in northern New Jersey aligns with our strategy of growing in our local markets and positions us well to drive organic growth across our commercial, consumer, wealth advisory and mortgage businesses.”
What’s Next: The transaction is expected to close in 2026’s second quarter, subject to customary closing conditions that include regulatory approvals and approval by Blue Foundry’s stockholders. Following the closing, Blue Foundry Bank—Blue Foundry’s wholly owned subsidiary—will merge into Fulton Bank, N.A., the wholly owned bank subsidiary of Fulton, with Fulton as the surviving bank. As part of this transaction, Fulton will contribute $1.5 million to the Fulton Forward Foundation, which will be designated to provide impact grants supporting statewide nonprofit organizations.
On the Move
Jenise M. Rivera has joined Hyland Levin Shapiro LLP as an associate. She will concentrate her practice on community associations and commercial litigation. The firm also welcomed Dennis M. Tuohy Jr. as an associate. He will concentrate in zoning and land use aling with commercial and real estate litigation.
Cozen O’Connor Public Strategies, announced the addition of Braxton Plummer as principal in its Cherry Hill office. Plummer brings extensive experience in local, state and federal government affairs, public policy and political strategy, most recently serving as director of state and local government affairs at Verizon.
Rowan College of South Jersey (RCSJ) has named Brenden Rickards, Ph.D. as the second president of RCSJ, following his tenure as interim president and chief academic officer.
Mount Laurel’s On Location, a nationwide provider of labor and management services for exhibits, events, activations and branded environments, has welcomed Jason Cornatzer as an account executive. Also, John Thompson has been appointed to the newly established role of sales and growth – branded environments.
Atlantic Health has named Dr. Melissa Lozano as its medical director of women’s health and Amanda Tempe as its executive director for women’s health.
Evan Weiss was recently approved to become the new CEO of the New Jersey Economic Development Authority.
Duly Noted
Capehart Scatchard announced that Laura M. Danks has assumed the role of executive director of the firm, following the recent retirement of Mary Ellen Rose. Danks has been with the firm since 2005 and is a shareholder in the commercial litigation department.
Meredith K. Lorrilliere has been promoted to executive vice president and chief operating officer for the Chamber of Commerce Southern New Jersey (CCSNJ). Lorrilliere has been with the chamber for more than 25 years, and also serves as president of the South Jersey Chamber Foundation, the CCSNJ’s charitable 501c3 entity.
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Published (and copyrighted) in South Jersey Biz, Volume 16, Issue 2 (Febraury 2026).
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