Blue Foundry Bancorp announces share repurchase program

Blue Foundry Bancorp announced that it has adopted a program to repurchase up to 1,335,126 shares of its common stock, which is approximately 5% of its outstanding common stock commencing upon the completion of the company’s existing stock repurchase program. This is the company’s second stock repurchase program since completing its mutual-to-stock conversion and related stock offering in July 2021. On July 20, 2022, the company announced its first stock repurchase program which authorized the purchase of up to 2,852,250 shares. Under this previously announced program, through April 18, 2023, 2,723,979 shares of common stock have been repurchased at a cost of $30,240,939, or $11.10 per share. As of April 18, 2023, there are 128,271 shares remaining to be repurchased under this existing program.