Blue Foundry Bancorp in Rutherford, N.J., prevailed in its proxy contest with activist investor Larry Seidman.
The $2.1 billion-asset company disclosed in a regulatory filing that its board nominees – J. Christopher Ely and Robert Goldstein – were elected to three-year terms at this year’s annual meeting. Each received more than 12.4 million votes from shareholders.
Seidman and Associates’ candidates – Jennifer Corrou and Raymond Vanaria – fell short of the necessary votes to gain seats. Neither candidate topped 3.5 million votes.