Fulton Financial Corporation (NASDAQ: FULT ) was founded in 1882 in Lancaster, Pennsylvania. It has considerable influence in this city; in fact, it has a 29% market share of deposits. Overall, Pennsylvania is a key state for FULT, and the acquisition ofHi there, welcome to my profile. My name is Eugenio Catone, I live in Italy and I am 26 years old. In 2023 I graduated in Business Administration and I am completing my studies. My interest in financial markets started about 5 years ago when I accidentally c ...

LANCASTER, Pa., Nov. 1, 2024 /PRNewswire/ -- Fulton Financial Corporation ("Fulton") (NASDAQ: FULT) today announced that Richard Kraemer has been appointed as Senior Executive Vice President and Chief Financial Officer ("CFO"), replacing Interim CFO Betsy Chivinski, who is retiring from Fulton at the end of the year."I would like to thank Betsy Chivinski for her many years of service to Fulton," said Chairman and Chief Executive Officer Curt Myers. "As Interim CFO, Betsy helped lead the Republic Bank transa ...

Fulton Financial (FULT) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.43 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 13.64%. A quarter ago, it was expected that this financial holding company would post earnings of $0.25 per share when it actually produced earnings of $0.47, delivering a surprise of 88%. Over the last four quar ...

Financial Performance - Net income available to common shareholders for Q3 2024 was $60.6 million, a decrease of $31.8 million from Q2 2024[1] - Operating net income for Q3 2024 was $91.3 million, an increase of $8.8 million compared to Q2 2024, representing an all-time high of $0.50 per diluted share[2] - Net income available to common shareholders for the quarter ended September 30, 2024, was $60,644 million, a decrease of 34.4% compared to $92,413 million in the previous quarter[37] - Operating net income available to common shareholders increased to $91,293 million from $82,494 million in the previous quarter, reflecting a growth of 9.7%[37] - Basic earnings per share for Q3 2024 was $0.33, down from $0.53 in the previous quarter[25] - Diluted earnings per share rose to $0.50, up from $0.47 in the previous quarter, representing a 6.4% increase[37] - Total revenue for the quarter was $329.14 million, up from $311.45 million in the previous quarter, indicating a 5.8% growth[40] Income and Expenses - Net interest income totaled $258.0 million, an increase of $16.3 million from the previous quarter, driven by the full-quarter impact of the Acquisition[3] - Non-interest income before investment securities gains was $59.7 million, down from $113.3 million in Q2 2024, primarily due to a $55.1 million change in the gain on acquisition[3] - Non-interest expense increased to $226.1 million, primarily due to an $8.2 million rise in salaries and benefits expense[4] - Total non-interest expense increased to $226,089,000 from $199,488,000 in Q2 2024, primarily driven by higher salaries and employee benefits[23] - Operating non-interest expense was $196.24 million, slightly up from $194.94 million in the previous quarter[40] - Non-interest expense, excluding intangible amortization and acquisition-related expenses, was $226.09 million, up from $199.49 million in the previous quarter[40] Assets and Liabilities - Total assets increased to $32.2 billion, up from $31.8 billion as of June 30, 2024[5] - Total assets increased to $32.19 billion from $31.77 billion in the previous quarter[22] - Total liabilities increased to $28.98 billion from $28.67 billion in the previous quarter[22] - Total shareholders' equity increased to $3,160,322 thousand as of September 30, 2024, compared to $2,952,671 thousand in June 2024, reflecting a growth of 7.05%[27] - Total interest-earning assets reached $30,013,278 thousand with a yield of 5.74% for the three months ended September 30, 2024, compared to $28,867,850 thousand and a yield of 5.64% in June 2024[27] Credit Quality - The provision for credit losses was $11.9 million, a decrease from $32.1 million in Q2 2024[8] - Provision for credit losses decreased to $11,929,000 from $32,056,000 in the previous quarter, indicating improved credit quality[23] - Non-performing assets were $205.0 million, or 0.64% of total assets, up from $174.0 million, or 0.55% of total assets, in the previous quarter[8] - Non-performing loans to total net loans increased to 0.84% from 0.72% in the previous quarter[19] - The allowance for credit losses related to net loans increased to $375,961 thousand as of September 30, 2024, compared to $293,404 thousand a year earlier, reflecting a significant increase of 28.2%[34] Deposits and Loans - Customer deposits increased by $745.0 million compared to the prior quarter, excluding brokered deposits[2] - Total deposits increased to $26.15 billion from $25.56 billion in the previous quarter[22] - Net loans increased to $24.18 billion from $24.11 billion in the previous quarter[22] - Total net loans increased to $24,147,801 thousand as of September 30, 2024, up from $23,345,914 thousand in June 2024, representing a growth of 3.44%[28] - Demand deposits rose to $7,668,583 thousand with an interest rate of 2.01% for September 2024, compared to $7,080,302 thousand and 1.80% in June 2024[27] Shareholder Equity - Common equity tier 1 capital rose to 10.5%, up from 10.3% in the prior quarter[2] - Common shareholders' equity increased to $3,203,943 million from $3,101,609 million, marking a growth of 3.3%[37] - Tangible common equity ratio improved to 7.5% from 7.3% in the previous quarter[19] - Tangible common equity to tangible assets ratio increased to 7.51% as of September 30, 2024, up from 7.26% in June 2024[40] Efficiency and Management - Efficiency ratio improved to 59.62%, down from 62.59% in the prior quarter, indicating better cost management[40] - The efficiency ratio for operating non-interest expenses to total average assets was 2.45%, a slight decrease from 2.55% in the previous quarter[40] - The company emphasized the importance of non-GAAP financial measures for assessing trends in its results of operations and financial condition[36]

LANCASTER, Pa., Oct. 15, 2024 /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $60.6 million, or $0.33 per diluted share, for the third quarter of 2024, a decrease of $31.8 million, or $0.19 per share, in comparison to the second quarter of 2024. Operating net income available to common shareholders for the three months ended September 30, 2024 was $91.3 million, or $0.50 per diluted share(1), an increase of $ ...

Analysts on Wall Street project that Fulton Financial (FULT) will announce quarterly earnings of $0.44 per share in its forthcoming report, representing an increase of 2.3% year over year. Revenues are projected to reach $321 million, increasing 17.1% from the same quarter last year. The current level reflects an upward revision of 0.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projec ...

LANCASTER, Pa., Oct. 9, 2024 /PRNewswire/ -- Fulton Financial Corporation ("Fulton") (Nasdaq: FULT) today announced that it will distribute its third quarter 2024 earnings release and accompanying charts on Tuesday, October 15, at approximately 4:30 p.m. Eastern Time. Fulton will host a conference call with analysts on Wednesday, October 16, at 10 a.m. Eastern Time. Curtis J. Myers, Chairman and CEO, will host the call. He will be joined by Rick Kraemer, Senior Executive Vice President and CFO Designee. The ...

Whether it's through stocks, bonds, ETFs, or other types of securities, all investors love seeing their portfolios score big returns. But for income investors, generating consistent cash flow from each of your liquid investments is your primary focus. Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a divide ...

LANCASTER, Pa., July 23, 2024 /PRNewswire/ -- Fulton Financial Corporation ("Fulton") (NASDAQ: FULT) today announced that Richard Kraemer is joining Fulton as Senior Executive Vice President and Chief Financial Officer Designee. In the fourth quarter of 2024, Rick will become Fulton's Chief Financial Officer ("CFO"), replacing Interim CFO Betsy Chivinski, who will retire from Fulton at the end of the year. Kraemer has more than 20 years in the financial services industry, having most recently served as Chie ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|--------|-------|-------|-------|----------------------|-------|-------|-------|-------|-------|-------|--------------| | | | | | | | | | | | | | | | | SECOND | | | | RESULTS NASDAQ: FULT | | | | | | | QUARTER 2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | FORWARD-LOOKING STATEMENT This presentation may contain forward-looking statements with respec ...