Core Insights - Fulton Bank has appointed Kevin Gremer as Senior Executive Vice President and Chief Operations and Technology Officer, effective August 25, 2025, to enhance its digital customer experience [1][2]. Group 1: Leadership Appointment - Kevin Gremer brings over 27 years of financial services leadership experience, previously serving as SVP, Head of Operations at City National Bank and holding various senior roles at Capital One [2]. - The CEO of Fulton Bank, Curt Myers, emphasized the need for a strategic and innovative leader, which Gremer embodies with his proven track record [2]. Group 2: Educational Background - Gremer holds a Bachelor of Science degree in Accounting from Pennsylvania State University and an MBA from Duke University Fuqua School of Business [3]. - He has also received a professional banking certification from Louisiana State University Graduate School of Banking [3]. Group 3: Company Overview - Fulton Bank is a premier community bank in the Mid-Atlantic region, part of Fulton Financial Corporation, which has over $32 billion in assets [4]. - The bank operates more than 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia, focusing on strong customer relationships and community support [4].

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].

Core Insights - Three stocks are highlighted with strong buy rankings and positive momentum characteristics for investors to consider: Monarch Casino & Resort, South Plains Financial, and Fulton Financial [1][2][4]. Company Summaries Monarch Casino & Resort (MCRI) - The company focuses on delivering exceptional guest experiences through superior services and amenities [1]. - It has a Zacks Rank of 1 (Strong Buy) and a 5.8% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [1]. - Shares increased by 43.1% over the last three months, outperforming the S&P 500's gain of 22.1% [2]. - The company holds a Momentum Score of A [2]. South Plains Financial (SPFI) - This holding company for City Bank provides financial services to small and medium-sized businesses and individuals [2]. - It also has a Zacks Rank of 1 and a 3.2% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [2]. - Shares rose by 29.2% over the last three months, again surpassing the S&P 500's gain of 22.1% [3]. - The company possesses a Momentum Score of A [3]. Fulton Financial (FULT) - This bank holding company offers retail and commercial banking, as well as investment management and trust services in several states [4]. - Fulton Financial has a Zacks Rank of 1 and a 5% increase in the Zacks Consensus Estimate for current year earnings over the last 60 days [4]. - Shares gained 25.9% over the last three months, compared to the S&P 500's gain of 22.1% [5]. - The company also has a Momentum Score of A [5].

Group 1: Fulton Financial - Fulton Financial is a bank holding company providing retail and commercial banking and investment management services in central and eastern Pennsylvania, southern New Jersey, northern Maryland, and southern Delaware [1] - The Zacks Consensus Estimate for Fulton Financial's current year earnings has increased by 5% over the last 60 days [1] Group 2: OP Bancorp - OP Bancorp offers commercial banking services to retail and institutional customers [2] - The Zacks Consensus Estimate for OP Bancorp's current year earnings has increased by 1.8% over the last 60 days [2] - OP Bancorp has a dividend yield of 3.5%, compared to the industry average of 1.3% [2] Group 3: Microchip Technology - Microchip Technology develops and manufactures microcontrollers, memory, and analog and interface products for embedded control systems [3] - The Zacks Consensus Estimate for Microchip Technology's current year earnings has increased by 3.9% over the last 60 days [3] - Microchip Technology has a dividend yield of 2.4%, compared to the industry average of 0.0% [3]

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]

Core Insights - Fulton Financial reported revenue of $328.46 million for the quarter ended June 2025, reflecting a decrease of 3.2% year-over-year, but exceeded the Zacks Consensus Estimate by 1.56% [1] - The earnings per share (EPS) for the quarter was $0.55, an increase from $0.47 in the same quarter last year, resulting in an EPS surprise of 27.91% compared to the consensus estimate of $0.43 [1] Financial Performance Metrics - Efficiency Ratio stood at 57.1%, better than the average estimate of 62% based on two analysts [4] - Net Interest Margin was reported at 3.5%, slightly above the average estimate of 3.4% [4] - Average Balance of Total Interest-Earning Assets was $29.97 billion, significantly higher than the estimated $16.58 billion [4] - Net charge-offs to average loans were 0.2%, lower than the average estimate of 0.3% [4] - Total Non-Interest Income reached $69.15 million, surpassing the estimated $67.38 million [4] - Net Interest Income (FTE) was $259.31 million, exceeding the average estimate of $254.92 million [4] Stock Performance - Fulton Financial's shares have returned +13.9% over the past month, outperforming the Zacks S&P 500 composite's +5% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Viewpoint - Fulton Financial (FULT) reported quarterly earnings of $0.55 per share, exceeding the Zacks Consensus Estimate of $0.43 per share, and showing an increase from $0.47 per share a year ago, resulting in an earnings surprise of +27.91% [1][2] Financial Performance - The company achieved revenues of $328.46 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 1.56%, although this is a decrease from $339.27 million in the same quarter last year [2] - Over the last four quarters, Fulton Financial has consistently exceeded consensus EPS estimates [2] Stock Performance and Outlook - Fulton Financial shares have increased approximately 1.5% since the beginning of the year, while the S&P 500 has gained 6.6% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4][6] Earnings Estimate Revisions - The trend for earnings estimate revisions for Fulton Financial was favorable prior to the earnings release, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The current consensus EPS estimate for the upcoming quarter is $0.44 on revenues of $324.1 million, and for the current fiscal year, it is $1.81 on revenues of $1.29 billion [7] Industry Context - The Banks - Northeast industry, to which Fulton Financial belongs, is currently ranked in the top 33% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8]