Core Viewpoint - Fulton Financial Corporation announced the retirement of Chief Human Resources Officer Bernadette Taylor, effective June 5, 2026, and the promotion of Karen Grafje to the position [1][2]. Group 1: Leadership Changes - Bernadette Taylor has been with Fulton since 1994, serving in various leadership roles and becoming Chief HR Officer in 2015 [1]. - Karen Grafje, currently the Director of Total Rewards and HR Solutions, will succeed Taylor as Chief Human Resources Officer [1][2]. Group 2: Contributions and Experience - Taylor has played a crucial role in developing the company culture, which has helped attract talented employees [2]. - Grafje brings over 25 years of human resources experience and holds degrees in economics and industrial and labor relations from Indiana University of Pennsylvania [2]. Group 3: Company Overview - Fulton Financial Corporation is a financial holding company with assets of $32 billion and operates over 200 financial centers across five states [3]. - The company employs more than 3,300 individuals [3].

Mergers and Acquisitions - The Corporation entered into a Merger Agreement with Blue Foundry on November 24, 2025, expecting to close the merger on or about April 1, 2026[18]. - Fulton Bank completed the acquisition of Republic First Bank on April 26, 2024, enhancing its asset base[19]. Workforce and Operations - As of December 31, 2025, the Corporation operated 204 financial centers, excluding remote service facilities[26]. - The Corporation's workforce consisted of approximately 3,400 employees as of December 31, 2025[27]. Banking Services - The Corporation emphasizes relationship banking, serving small- and medium-sized businesses with commercial loans and services[23]. - The Corporation's loan portfolio includes a significant proportion of commercial mortgage loans, which may pose increased credit risk[22]. - The Corporation's consumer banking products include various checking and savings accounts, home equity loans, and a range of mortgage products[21]. - The Corporation's wealth management services include investment management, trust, brokerage, and insurance services[25]. Strategic Initiatives and Risks - The Corporation's strategic initiatives aim to simplify its operating model and enhance customer experience[16]. - The Corporation's future financial performance is subject to various risks, including economic conditions and regulatory changes[15]. Regulatory Environment - The company operates under a regulatory framework that includes the Dodd-Frank Act and is subject to supervision by the Federal Reserve Board and the OCC[40]. - The Economic Growth Act raised the total asset threshold for enhanced prudential standards to $250 billion, affecting regulatory requirements for the company[46]. - The company is subject to the CFPB's supervisory and enforcement authorities due to its total assets exceeding $10 billion, resulting in a stringent consumer compliance environment[52]. - The company must comply with ability-to-pay rules under the TILA, requiring a reasonable determination of a consumer's ability to repay residential mortgage loans[53]. - The company is subject to the Volcker Rule, which restricts proprietary trading and investments in hedge funds and private equity funds[56]. - The company and Fulton Bank are subject to Basel III Rules for capital and liquidity regulation, applying the standardized approach for measuring risk-weighted assets[57]. Capital and Liquidity - As of December 31, 2025, the Corporation and Fulton Bank exceeded the minimum capital requirements, including a capital conservation buffer of 2.5%, resulting in effective minimum CET1, Tier 1, and total capital ratios of 7.0%, 8.5%, and 10.5% respectively[58]. - Fulton Bank's capital ratios were above the minimum levels required to be considered "well capitalized" by the OCC, with a total risk-based capital ratio of 10.00% or greater, Tier 1 risk-based capital ratio of 8.00% or greater, and CET1 risk-based capital ratio of 6.50% or greater as of December 31, 2025[66]. - The Corporation's Total Risk-Based Capital ratio was 15.2%, exceeding the regulatory minimum of 8.0%[300]. - The Tier I Risk-Based Capital ratio stood at 11.8%, above the required minimum of 6.0%[300]. - The CET1 ratio was reported at 12.6%, significantly higher than the minimum requirement of 4.5%[300]. - Fulton Bank met the well-capitalized requirements under the regulatory framework for prompt corrective action as of December 31, 2025[299]. Financial Performance - FTE net interest income for the year ended December 31, 2025, was $1.1 billion, an increase of $75.8 million compared to $978.2 million for 2024[234]. - The net interest margin (NIM) for 2025 was 3.51%, up from 3.42% in 2024[234]. - Total interest income for 2025 increased by $34.4 million compared to 2024, driven by a $66.5 million increase in volume, partially offset by a $32.1 million decrease in yield[237]. - Average net loans increased by $850.1 million, or 3.7%, in 2025 compared to 2024, primarily due to the full-year impact of loans acquired in the Republic First Transaction[241]. - Total deposits increased by $1.7 billion, or 7.1%, in 2025 compared to 2024, driven by the full-year impact of deposits acquired in the Republic First Transaction[243]. - Non-interest income before investment securities losses increased by $17.8 million, or 6.9%, in 2025, driven by higher wealth management revenues and cash management fee income[246]. - Total non-interest expense decreased by $28.0 million, or 3.4%, in 2025, with salaries and employee benefits increasing by $17.9 million, or 4.2%[248]. - Income tax expense for 2025 was $94.0 million, an increase of $38.1 million compared to 2024, with an effective tax rate of 19.4%[249]. Loan Portfolio and Credit Quality - The commercial mortgage loan portfolio comprised approximately $10.8 billion, or 44.7%, of the total loan portfolio as of December 31, 2025[272]. - Non-accrual loans decreased by $35.4 million, or 18.7%, in 2025, primarily due to payments and charge-offs[279]. - Non-accrual loans as a percentage of net loans decreased to 0.64% in 2025 from 0.79% in 2024[280]. - Total non-performing assets decreased to $185.161 million in 2025 from $222.695 million in 2024[280]. - Total non-performing loans decreased to $183.796 million in 2025 from $220.074 million in 2024[281]. - The allowance for credit losses (ACL) to non-performing loans ratio increased to 198% in 2025 from 172% in 2024[280]. - The total allowance for credit losses (ACL) at the end of 2025 was $364.5 million, a decrease from $379.2 million in 2024[286]. Deposits and Borrowings - Total deposits increased by $460.0 million, or 1.8%, to $26.6 billion as of December 31, 2025[289]. - Noninterest-bearing demand deposits decreased by $243.7 million, or 4.4%, while savings and money market deposits increased by $720.7 million, or 9.2%[289]. - Total borrowings decreased by $484.7 million, or 27.2%, to $1.3 billion, primarily due to a $600.0 million decrease in FHLB advances[291]. Other Financial Metrics - The provision for credit losses for 2025 was $35.7 million, a significant decrease from $71.6 million in 2024[286]. - Total uninsured deposits were estimated at $9.7 billion as of December 31, 2025, up from $9.4 billion in 2024[290]. - Other liabilities decreased by $221.8 million, or 23.0%, compared to December 31, 2024[293]. - Contractual purchase obligations decreased from $72.4 million in 2024 to $55.6 million in 2025, primarily due to contract changes[302]. - Total commitments to extend credit amounted to $8,710.2 million as of December 31, 2025[304].

Core Viewpoint - Fulton Financial is set to acquire Blue Foundry Bancorp in an all-stock transaction valued at $243 million, with the deal expected to close around April 1, following regulatory approvals from the Federal Reserve and the Office of the Comptroller of the Currency [1][2]. Group 1: Transaction Details - The acquisition involves Fulton Financial, the parent company of Fulton Bank, purchasing Blue Foundry, which transitioned from a depositor-owned mutual thrift to a publicly traded bank in 2021 [1][2]. - The transaction is an all-stock deal, indicating that Fulton will use its own shares to pay for the acquisition [1][2]. Group 2: Financial Metrics - Fulton currently holds approximately $32.1 billion in assets, and the combined entity post-acquisition is projected to have over $34 billion in assets [2]. - The merger will result in a network of more than 220 branches and around $28 billion in deposits [2].

Group 1 - Fulton Financial Corporation (FULT) and Blue Foundry Bancorp (BLFY) have received all necessary regulatory approvals for their all-stock transaction [1] - The regulatory approvals were granted by the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency [1] - Blue Foundry's stockholders approved the transaction on January 29, 2026, and the deal was initially announced on November 24, 2025 [1] - The transaction is expected to be completed on or around April 1, 2026, pending the satisfaction or waiver of remaining customary closing conditions [1]

Core Viewpoint - Fulton Financial Corporation has received all necessary regulatory approvals to acquire Blue Foundry Bancorp in an all-stock transaction, expected to be completed around April 1, 2026 [1][2][3]. Group 1: Transaction Details - The acquisition was announced on November 24, 2025, and has received approvals from the Federal Reserve System and the Office of the Comptroller of the Currency [2][3]. - Blue Foundry's stockholders approved the transaction on January 29, 2026, indicating strong support for the merger [2][3]. - The completion of the transaction is contingent upon satisfying or waiving customary closing conditions outlined in the merger agreement [3]. Group 2: Company Profiles - Fulton Financial Corporation, headquartered in Lancaster, Pennsylvania, is a community banking organization with $32 billion in assets, providing various financial services through its subsidiary, Fulton Bank, across several states [4]. - Blue Foundry Bancorp, based in Rutherford, New Jersey, operates Blue Foundry Bank, which serves multiple counties and focuses on providing tailored financial products and services [5].

Geopolitical Tensions - President Trump is considering a limited military strike against Iran to pressure for a new nuclear agreement, with options including targeted strikes on nuclear facilities [2] - The U.S. military is conducting its largest buildup in the region in over two decades, deploying advanced fighter jets and an aircraft carrier, leading to increased volatility in oil markets [3] Financial Regulation - The Federal Reserve has approved Fulton Financial Corporation's acquisition of Blue Foundry Bancorp, allowing Fulton to expand its presence in the northern New Jersey market [4] - The merger is expected to create a $34 billion community bank, providing Blue Foundry customers access to over 200 locations across the mid-Atlantic [5] Trade and Industry - President Trump has labeled steel tariffs as a "game-changer" for American manufacturing, maintaining a 50% levy on foreign steel and aluminum to combat Chinese overcapacity [6] - The Commerce Department is reviewing over 400 products for potential exemptions from these tariffs, which may ease compliance burdens for domestic firms [7] International Affairs - North Korea's 9th Party Congress showcased the country's new military capabilities, including 50 AI-enhanced rocket launchers, amid claims of overcoming recession and completing a five-year growth plan [9][10] Domestic Policy - The FBI is lowering recruitment and vetting standards due to a staffing crisis, anticipating a loss of over 5,000 employees by September [11] - The agency will no longer require a college degree for certain positions and will reduce training from 18 weeks to 8 weeks, raising concerns about operational efficacy [12]

Core Viewpoint - The Federal Reserve Board has approved Fulton Financial Corporation's application to acquire Blue Foundry Bancorp and Blue Foundry Bank, indicating a significant move in the banking sector [1] Group 1 - Fulton Financial Corporation is based in Lancaster, Pennsylvania [1] - Blue Foundry Bancorp and Blue Foundry Bank are located in Rutherford, New Jersey [1]

Group 1 - Fulton Financial Corporation (FULT) experienced a 2.6% increase in share price on January 22nd, indicating volatility for shareholders [1] - The company is under the management of Daniel, who is a professional investor focused on analyzing cash flows and assessing the value of companies in the oil and gas sector [1] - Daniel employs a combination of Benjamin Graham's investment philosophy and a contrarian approach to identify businesses trading at significant discounts to their intrinsic value [1] Group 2 - No stock, option, or similar derivative positions are held by the analyst in any of the companies mentioned, nor are there plans to initiate such positions within the next 72 hours [2] - The article expresses the author's own opinions and is not influenced by compensation from any company mentioned [2] - Seeking Alpha clarifies that past performance does not guarantee future results and that the views expressed may not reflect those of the platform as a whole [3]

Core Insights - Fulton Financial reported record operating earnings per share of $2.16 for 2025, supported by strong deposit growth, disciplined expense management, and a solid balance sheet [3][4][7] Deposit Growth - Customer deposits increased by $449 million in 2025, with a 25% year-over-year rise in consumer demand deposit account openings [1][6] - In Q4, total deposits rose by $257 million, with balanced growth between interest-bearing and non-interest-bearing deposits [8][9] Profitability Metrics - Operating return on assets improved by 17 basis points to 1.28%, while net interest margin increased by 9 basis points to 3.51% [2][7] - Non-interest income for 2025 totaled $277 million, up nearly 7%, contributing over 20% to total revenue [16][18] Loan Growth and Outlook - Loan growth in 2025 was impacted by strategic portfolio actions, creating an over $800 million headwind, but organic loan growth was still achieved [10][13] - The company anticipates a return to historical mid-single-digit loan growth in 2026, with a commercial pipeline up more than 10% year-over-year [6][15] Credit Quality and Capital Position - Non-performing assets to total assets ended at 0.58%, with net charge-offs at 21 basis points of average loans [21] - The company repurchased 1.1 million shares in Q4 and received a new $150 million buyback authorization, strengthening its capital position [5][22] 2026 Guidance - Management expects net interest income to be between $1.12 billion and $1.14 billion, with provisions for loan losses estimated at $55 million to $75 million [26] - The company is focused on maintaining momentum in deposits, loan origination, and fee income growth while integrating the pending Blue Foundry acquisition [23]

Financial Data and Key Metrics Changes - Operating earnings per share reached a record $2.16 for 2025, reflecting strong performance compared to 2024 [5] - Customer deposits increased by $449 million, driven by enhanced deposit initiatives and a 25% growth in consumer demand deposit account openings year over year [6] - Operating return on assets improved by 17 basis points to 1.28%, and net interest margin increased by 9 basis points to 3.51% [9][10] Business Line Data and Key Metrics Changes - Non-interest income, excluding certain gains and losses, rose to $277 million, up almost 7% year over year, with commercial fees growing by 8% [7][8] - Wealth assets under management surpassed $17 billion, with a 17% increase in referrals from financial centers to advisors [8] Market Data and Key Metrics Changes - Total deposits grew by $257 million, or 3.9%, with balanced growth across categories [14] - Municipal deposits decreased by $254 million, while commercial deposits remained stable [14] Company Strategy and Development Direction - The company aims to create long-term value by growing the business, effectively serving customers, and maintaining operational excellence [5] - The acquisition of Blue Foundry Bancorp is expected to strengthen the company's footprint and enhance its community banking model [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to historical loan growth rates in the mid-single-digit range for 2026, supported by increased productivity and a strong pipeline [27] - The company anticipates continued strength in 2026, building on momentum and delivering strong results for stakeholders [11] Other Important Information - Operating expenses grew by only 1.9% in 2025, and when normalizing for the full year of Republic First expenses, they would have decreased by 2.7% [9] - The company repurchased $59 million of common stock and increased its dividend, while maintaining the highest capital ratios seen in over a decade [10][19] Q&A Session Summary Question: Loan growth guidance for 2026 - Management noted that over $800 million of headwinds from strategic actions in 2025 are expected to moderate, allowing for a return to mid-single-digit organic growth [26] Question: Pay downs assumptions - Management indicated that they do not foresee significant changes in normal portfolio pay downs and prepayments year over year [28] Question: Loan mix changes with new hires - Management emphasized a diversified loan book strategy, expecting growth across all segments, particularly in commercial and industrial (C&I) and commercial real estate (CRE) [36] Question: Deposit growth and composition - Management highlighted strong momentum in consumer and small business deposits, with a focus on low-cost operating deposits [46] Question: Commercial interest rate swap income - Management stated that swap income correlates with larger originations and is expected to fluctuate accordingly [52] Question: Other fee income expectations - Management noted that volatility in other fee income is driven by equity method investments, with a normalized level expected around $2.5 million [53]