Company Overview - Fulton Financial (FULT) is a financial holding company headquartered in Lancaster, with a year-to-date price change of -3.48% [3] - The company currently pays a dividend of $0.18 per share, resulting in a dividend yield of 3.87%, which is higher than the Banks - Northeast industry's yield of 2.66% and the S&P 500's yield of 1.49% [3] Dividend Performance - Fulton Financial's annualized dividend of $0.72 has increased by 4.3% from the previous year [4] - Over the past five years, the company has raised its dividend five times, achieving an average annual increase of 7.25% [4] - The current payout ratio is 35%, indicating that the company distributes 35% of its trailing 12-month earnings per share as dividends [4] Earnings Growth - The Zacks Consensus Estimate for Fulton Financial's earnings per share for 2025 is $1.97, reflecting a year-over-year growth rate of 6.49% [5] - The company is viewed as an attractive dividend option and a compelling investment opportunity, holding a Zacks Rank of 2 (Buy) [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025, or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-39680 FULTON FINANCIAL CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 23-2195389 (State or other ...

LANCASTER, Pa., Aug. 1, 2025 /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) today announced that President Angela Snyder will retire from Fulton Financial Corporation on December 31, 2025. President Angela Snyder "Throughout her time at Fulton, Angela has been a pillar of strength, vision, and integrity. Her leadership has helped shape who we are today, and her impact will be felt for years to come," said Chairman and CEO Curt Myers. "While we will miss her steady presence and thoughtful g ...

LANCASTER, Pa., July 23, 2025 /PRNewswire/ -- Fulton Bank today announced that Kevin Gremer will join as Senior Executive Vice President and Chief Operations and Technology Officer on August 25. Gremer will report to Chairman and CEO Curt Myers and will be responsible for leading a team of information technology and operations professionals. He is charged with leveraging leading technology to provide the best digital customer experience at Fulton Bank.  Kevin Gremer, Senior Executive Vice President and ...

Core Viewpoint - Fulton Financial (FULT) is positioned as a strong investment opportunity due to a significant upward revision in earnings estimates, indicating a positive earnings outlook that may continue to drive stock performance [1][2]. Earnings Estimate Revisions - Analysts have shown growing optimism regarding Fulton Financial's earnings prospects, reflected in the upward trend of estimate revisions, which historically correlates with stock price movements [2]. - For the current quarter, the earnings estimate is $0.48 per share, representing a decrease of 4.0% from the previous year, but the Zacks Consensus Estimate has increased by 9.02% over the last 30 days due to two upward revisions [6]. - The full-year earnings estimate is projected at $1.97 per share, reflecting a 6.5% increase from the prior year, with two estimates moving higher and no negative revisions noted [7][8]. Zacks Rank and Performance - Fulton Financial currently holds a Zacks Rank 2 (Buy), indicating favorable conditions for investment based on the positive estimate revisions [9]. - Stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have historically outperformed the S&P 500, suggesting that Fulton Financial may continue to deliver strong returns [9]. Recent Stock Performance - Over the past four weeks, Fulton Financial shares have increased by 9.9%, indicating investor confidence in the company's earnings growth potential [10].

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Core Insights - The individual has a strong background in Business Administration and has completed CFA level 1, indicating a solid foundation in finance and investment analysis [1] - The investment strategy focuses on fundamental analysis rather than technical analysis, emphasizing the evaluation of actual company performance [1] - The investment approach is long-term and often contrarian, with a preference for US companies but also includes analysis of European and Chinese firms [1] Investment Strategy - The individual primarily invests in stocks and ETFs, showcasing a diversified investment approach [1] - A pragmatic perspective is adopted, moving away from complex trading charts to a more straightforward analysis of company results [1] - The long-term view of investments aligns with a strategy that seeks to capitalize on fundamental strengths of companies [1]

Financial Data and Key Metrics Changes - Operating earnings reached $100.6 million or $0.55 per share, marking a 3% increase linked quarter and a record for the company [6][14] - Total revenue increased due to growth in net interest income and fee income, with a quarterly efficiency ratio of 57.1% [7][8] - Operating return on average assets rose to 1.3%, and operating return on average tangible common equity increased to 16.26% [8] Business Line Data and Key Metrics Changes - Total loans grew by $150 million or 2.5%, primarily in residential mortgage and home equity portfolios, despite strategic runoff in indirect auto and certain commercial loans [9][15] - Non-interest income for the quarter was $69.1 million, with all categories showing linked quarter growth, including record highs in Wealth Management and Commercial Banking fees [10][11][19] Market Data and Key Metrics Changes - Deposits declined by $191 million or 2.9%, influenced by seasonal trends, with a loan to deposit ratio ending at 92% [15][16] - Non-interest bearing balances constituted 20% of total deposits, with expectations for municipal balance inflows in the third quarter [15] Company Strategy and Development Direction - The company continues to focus on its Community Banking strategy, aiming to attract and retain valuable customers while reinvesting in communities [5] - The M&A strategy remains focused on community banks in the $1 billion to $5 billion range, with a disciplined approach to metrics and strategy [46] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding loan growth, with an increase in the loan pipeline but a pull-through rate below historical norms due to economic uncertainties [42][43] - The company updated its 2025 operating guidance, including an increase in net interest income expectations and a decrease in provision expense [22][23] Other Important Information - The company repurchased 522,000 shares at a weighted average price of $16.9, contributing to a tangible book value per share growth of 9.5% on a linked quarter annualized basis [8][22] - The allowance for credit losses to total loans ratio ended at 1.57%, with a coverage ratio of 177% for non-performing loans [21] Q&A Session Summary Question: Expense guidance and timing for the back half of the year - Management indicated that the expense range for the back half of the year is expected to be below the midpoint due to timing and merit increases in the second quarter [27][31] Question: Fee income guidance and potential headwinds - Management expressed confidence in fee income growth, stating that consistent performance across categories could lead to trending towards the top end of the guidance range [34][35] Question: Status of the loan pipeline and impact of economic uncertainty - Management noted an increase in the loan pipeline but highlighted that customers remain cautious about new projects due to economic uncertainties [41][42] Question: Appetite for M&A and geographic focus - The company reiterated its focus on community banks within the specified size range, maintaining a disciplined approach to potential acquisitions [46] Question: Outlook for deposits and NIM - Management acknowledged competitive pressures on deposit costs but expressed a desire to fund future loan growth with customer deposits [53][54] Question: Trends in credit quality and non-performing loans - Management reported stable credit metrics but remained cautious due to economic factors, noting that the uptick in non-performing loans was related to a specific project [84]

Financial Data and Key Metrics Changes - Operating earnings reached $100.6 million or $0.55 per share, marking a 3% linked quarter increase and a record for the company [7][14] - Total revenue increased due to growth in net interest income and fee income, with a quarterly efficiency ratio of 57.1% [8][10] - Operating return on average assets rose to 1.3%, and operating return on average tangible common equity increased to 16.26% [8][14] Business Line Data and Key Metrics Changes - Total loans grew by $150 million or 2.5%, primarily in residential mortgage and home equity portfolios, despite strategic runoff in indirect auto and certain commercial loans [9][15] - Non-interest income for the quarter was $69.1 million, with all categories showing linked quarter growth, particularly in Wealth Management and Commercial Banking fees [11][18] - Non-interest expense on an operating basis was $187.6 million, an increase of $4.8 million linked quarter [19] Market Data and Key Metrics Changes - Deposits declined by $191 million or 2.9%, with seasonal declines in municipal and non-interest bearing balances [15][16] - Non-interest bearing balances accounted for 20% of total deposits at the end of the quarter [15] Company Strategy and Development Direction - The company continues to focus on its Community Banking strategy, aiming to attract and retain valuable customers while reinvesting in communities [6][8] - The M&A strategy remains focused on community banks in the $1 billion to $5 billion range, with a disciplined approach to metrics and strategy [44][45] Management's Comments on Operating Environment and Future Outlook - Management remains cautious about the economic and geopolitical environment but sees steady performance in the loan portfolio [12][85] - The company updated its 2025 operating guidance, including an increase in net interest income and a decrease in provision expense [22] Other Important Information - The company repurchased 522,000 shares at a weighted average price of $16.9 during the quarter [21] - The CET1 ratio increased to 11.3%, maintaining a solid capital position [21] Q&A Session Summary Question: Expense guidance for the back half of the year - Management indicated that the expense range for the back half should land below the midpoint due to timing and merit increases in Q2 [30] Question: Fee income guidance and potential headwinds - Management expressed confidence in fee income growth, stating that consistent outperformance could trend towards the top end of the guidance range [33] Question: Status of the loan pipeline and impact of economic uncertainty - The loan pipeline is up, but pull-through rates remain below historical norms due to customer caution [41] Question: M&A appetite post-Republic acquisition - The M&A strategy remains focused on community banks in the $1 billion to $5 billion range, with a disciplined approach [44] Question: Outlook on deposits and NIM - Management noted seasonality in deposits and competition for deposits, indicating a cautious but optimistic outlook [52] Question: Consumer pipelines and seasonality - There is some seasonality in the consumer business, but underlying growth strategies are expected to drive business organically [76] Question: Credit trends and non-performing loans - An uptick in non-performing loans was primarily due to one identified project, with overall credit metrics remaining stable [84]

Financial Performance - Operating net income available to common shareholders reached a record of $1006 million, or $055 per diluted share[9] - GAAP reported net income available to common shareholders was $966 million in 2Q25, compared to $904 million in 1Q25[7] - Return on Average Assets (annualized) increased from 118% in 1Q25 to 125% in 2Q25[7] - The efficiency ratio increased slightly from 567% to 571%[7] Income Statement - Net interest income increased by $3734 thousand from $251187 thousand in 1Q25 to $254921 thousand in 2Q25[10] - Non-interest income before investment securities gains (losses) increased by $1914 thousand from $67234 thousand to $69148 thousand[10] - Non-interest expense increased by $3351 thousand from $189460 thousand to $192811 thousand[10] Net Interest Margin and Cost of Funds - Net Interest Margin (NIM) was 347% in 2Q25, a 4 basis points increase compared to 1Q25[19] - Total cost of deposits decreased by 5 basis points to 198% in 2Q25[19] Loan and Deposit Portfolio - Office loans represent 3% of the total loan portfolio[49] - Multi-Family loans represent 8% of the total loan portfolio[55] - The average deposit account balance is $30099, with approximately 881632 deposit accounts[42] - Net estimated uninsured deposits represent 24% of total deposits[42, 61]