The Bank Slate


Blue Foundry in NJ withstands challenge for board seats

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.

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