FIRST QUARTER 2025 RESULTS NASDAQ: FULT Data as of or for the period ended March 31, 2025 unless otherwise noted This presentation may contain forward-looking statements with respect to Fulton Financial Corporation's (the "Corporation" or "Fulton") financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," ...

Financial Data and Key Metrics Changes - Operating earnings per share increased to 52 cents, a four cent increase from the previous quarter, indicating positive operating leverage and a strong balance sheet [11] - The quarterly operating efficiency ratio improved to 56.7%, operating return on assets rose to 1.25%, and operating return on average tangible common equity grew to 15.95% [11] - Tangible book value per share increased by 13.8% on an annualized basis [12] Business Line Data and Key Metrics Changes - Customer deposit growth was solid, with total deposits increasing by $200 million or 3%, driven by strong growth in interest-bearing money market products [21] - Total loans declined by $182 million during the quarter, influenced by strategic portfolio management actions [22] - Commercial mortgage and residential mortgage loans showed growth, offsetting some declines in other areas [22] Market Data and Key Metrics Changes - Non-interest income for the quarter was $67.2 million, with fee income as a percentage of revenue at 21% [26] - The average cost of total deposits decreased by 11 basis points to 2.03% [25] Company Strategy and Development Direction - The company continues to execute its strategic transformation through the implementation of Fulton First, focusing on talent alignment, reinvestment for growth, and operational simplification [13] - Loan growth is expected to be in the low single-digit range for the year due to strategic decisions and the current environment [17] Management's Comments on Operating Environment and Future Outlook - Management remains cautious regarding credit quality as customers navigate a volatile environment, despite improvements in asset quality metrics [18] - The company updated its rate forecast to include four 25 basis point cuts in 2025, which may impact net interest income and non-interest income [32] Other Important Information - The allowance for credit losses to total loans ratio increased to 159%, and the allowance for credit losses to non-performing loans coverage increased to 193% [30] - The company expects to incur up to $14 million of additional non-operating expenses related to Fulton First for the remainder of 2025 [29] Q&A Session Summary Question: Can you talk about loan growth and strategic offsets? - Management noted that overall pipelines increased year over year, but they remain cautious about the pull-through rate due to macro uncertainty [38] Question: What is the impact of potential rate cuts on net interest income? - A 25 basis point cut would be a headwind of about $1.7 million annually [44] Question: How is the credit portfolio being managed in light of tariffs? - Management is closely monitoring the credit portfolio for potential impacts from tariffs and government cost-cutting, particularly in the agricultural and manufacturing sectors [50][54] Question: What is the company's stance on share buybacks? - The capital strategy prioritizes organic growth and corporate initiatives before considering buybacks, although some shares were purchased in the first quarter [66] Question: How flexible is the operating expense guidance? - There is potential flexibility in timing for operating expenses, but management is comfortable with the midpoint of the expense range for now [73] Question: What is the outlook for fee income given market sensitivity? - Fee income growth has been strong, but headwinds are anticipated due to market sensitivity and interest rate volatility [78]

Financial Data and Key Metrics Changes - Operating earnings per share increased to 52 cents, a four cent increase from the previous quarter, indicating positive operating leverage and a strong balance sheet [11] - The quarterly operating efficiency ratio improved to 56.7%, operating return on assets rose to 1.25%, and operating return on average tangible common equity grew to 15.95% [11] - Tangible book value per share increased by 13.8% on an annualized basis [12] Business Line Data and Key Metrics Changes - Customer deposit growth was solid, with total deposits increasing by $200 million or 3%, driven by strong growth in interest-bearing money market products [21] - Total loans declined by $182 million during the quarter, influenced by strategic portfolio management actions [22] - Commercial mortgage and residential mortgage loans showed growth, offsetting some declines in other areas [22] Market Data and Key Metrics Changes - The net interest margin increased by two basis points to 3.43%, while net interest income on a non-FTE basis was $251 million, a decrease of $2.5 million from the previous quarter [24] - The average cost of total deposits decreased by 11 basis points to 2.03% [25] Company Strategy and Development Direction - The company continues to execute its strategic transformation through the implementation of Fulton First, focusing on talent alignment, reinvestment for growth, and operational simplification [13] - Loan growth is expected to be in the low single-digit range for the year due to strategic decisions and the current environment [17] Management's Comments on Operating Environment and Future Outlook - Management remains cautious regarding credit quality as customers navigate a volatile environment, despite improvements in asset quality metrics [18] - The company updated its rate forecast to include four 25 basis point cuts in 2025, which may impact net interest income and non-interest income [32] Other Important Information - The allowance for credit losses to total loans ratio increased to 159%, and the ACL to non-performing loan coverage increased to 193% [30] - The company expects to incur up to $14 million of additional non-operating expenses related to Fulton First for the remainder of 2025 [29] Q&A Session Summary Question: Can you talk more about loan growth and strategic offsets? - Management noted that overall pipelines have increased year over year, but they remain cautious about the pull-through rate due to macro uncertainties [38] Question: What is the impact of potential rate cuts on net interest income? - A 25 basis point cut is expected to be a headwind of about $1.7 million annually [44] Question: How is the credit portfolio being managed in light of tariffs? - Management is closely monitoring the credit portfolio for potential impacts from tariffs and government cost-cutting, particularly in the agricultural and manufacturing sectors [50][54] Question: What is the company's stance on resuming stock buybacks? - The capital strategy prioritizes organic growth and corporate initiatives before considering buybacks, especially in the current environment with limited growth opportunities [65] Question: How flexible is the operating expense guidance under different scenarios? - There is potential flexibility in timing for operating expenses, but management is comfortable with the midpoint of the expense range for now [73]

Core Insights - Fulton Financial (FULT) reported a revenue of $322.76 million for the quarter ended March 2025, marking a 40.1% increase year-over-year [1] - The earnings per share (EPS) was $0.52, up from $0.40 in the same quarter last year, exceeding the consensus EPS estimate of $0.44 by 18.18% [1] Financial Performance Metrics - The reported revenue surpassed the Zacks Consensus Estimate of $317.9 million, resulting in a surprise of +1.53% [1] - The efficiency ratio was 56.7%, better than the estimated 61.2% by analysts [4] - The net interest margin stood at 3.4%, matching the average estimate [4] - Average balance of total interest-earning assets was $30 billion, slightly below the estimated $30.20 billion [4] - Net charge-offs to average loans were 0.2%, aligning with the average estimate [4] - Net interest income (FTE) was reported at $255.53 million, exceeding the estimated $251.27 million [4] - Total non-interest income reached $67.23 million, slightly above the average estimate of $66.87 million [4] Segment Performance - Non-interest income from total consumer banking was $13.07 million, below the estimated $13.66 million [4] - Mortgage banking generated $3.14 million, surpassing the estimated $3.01 million [4] - Wealth management reported $21.79 million, slightly below the average estimate of $22.11 million [4] - Non-interest income from total commercial banking was $21.33 million, below the estimated $21.84 million [4] - Non-interest income from other sources was $7.91 million, significantly above the average estimate of $5.28 million [4] Stock Performance - Fulton Financial's shares have returned -14% over the past month, compared to the Zacks S&P 500 composite's -3.9% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market [3]

Fulton Financial (FULT) came out with quarterly earnings of $0.52 per share, beating the Zacks Consensus Estimate of $0.44 per share. This compares to earnings of $0.40 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.18%. A quarter ago, it was expected that this financial holding company would post earnings of $0.42 per share when it actually produced earnings of $0.48, delivering a surprise of 14.29%.Over the last four qua ...

Financial Performance - Fulton Financial Corporation reported net income of $90.4 million, or $0.49 per diluted share, for Q1 2025, an increase of $24.4 million, or $0.13 per share, compared to Q4 2024[2] - Operating net income for the same period was $95.5 million, or $0.52 per diluted share, reflecting a $6.5 million increase, or $0.04 per share, from the previous quarter[2] - Net income available to common shareholders for Q1 2025 was $90.4 million, representing a 36.8% increase compared to $66.1 million in Q4 2024[21] - Operating net income available to common shareholders per share for Q1 2025 was $0.52, compared to $0.48 in Q4 2024, reflecting an 8.3% increase[27] - Adjusted net income available to common shareholders for Q1 2025 was $95,544,000, compared to $89,011,000 in Q4 2024, reflecting a 7.5% increase[27] Asset and Deposit Growth - Total assets increased to $32.1 billion as of March 31, 2025, compared to $32.0 billion at the end of the previous quarter[15] - Deposits reached $26.3 billion, an increase of $199.5 million from $26.1 billion as of December 31, 2024[6] - Total deposits increased to $26.33 billion in Q1 2025 from $26.13 billion in Q4 2024[18] - Total average assets for Q1 2025 were $31,971,601,000, slightly down from $32,098,852,000 in Q4 2024[27] Loan and Credit Quality - The provision for credit losses was $13.9 million, resulting in an allowance for credit losses of $379.7 million, or 1.59% of total net loans as of March 31, 2025[10] - Non-performing assets decreased to $199.0 million, or 0.62% of total assets, down from $222.7 million, or 0.69% of total assets, as of December 31, 2024[10] - Net loans totaled $23.9 billion, a decrease of $182.3 million from $24.0 billion as of December 31, 2024[4] - Net charge-offs to average loans decreased to 0.21% in Q1 2025 from 0.22% in Q4 2024[17] - Non-performing loans to total net loans improved to 0.82% in Q1 2025 compared to 0.92% in Q4 2024[17] Efficiency and Cost Management - Non-interest expense decreased by $27.2 million to $189.5 million, down from $216.6 million in the prior quarter[3] - The efficiency ratio improved to 56.7% in Q1 2025, down from 58.4% in Q4 2024[17] - Operating non-interest expenses decreased to $182.858 million in Q1 2025 from $190.695 million in Q4 2024[29] - Non-interest expense to total average assets decreased to 2.40% in Q1 2025 from 2.68% in Q4 2024[17] Capital Ratios - The tangible common equity ratio rose to 7.8% in Q1 2025, compared to 7.5% in Q4 2024[17] - The common equity Tier 1 capital ratio improved to 11.0% in Q1 2025 from 10.8% in Q4 2024[17] - Tangible common equity to tangible assets ratio increased to 7.78% in Q1 2025 from 7.54% in Q4 2024[29] Revenue and Income Sources - Total revenue for Q1 2025 was $322.639 million, a slight decrease from $326.346 million in Q4 2024[29] - Total non-interest income for Q1 2025 was $67.2 million, up from $59.7 million in Q3 2024, reflecting a 12.5% increase[19] - Non-interest income for Q1 2025 was $67.232 million, an increase from $65.924 million in Q4 2024[29] Interest Income and Margin - The net interest margin stood at 3.43%, with a 12 basis point decrease in total cost of funds compared to the prior quarter[3] - Net interest income for Q1 2025 was $251.2 million, a slight decrease of 0.6% from $253.7 million in Q4 2024[19] - The company reported a net interest margin of 5.44% for Q1 2025, down from 5.53% in Q4 2024[23]

LANCASTER, Pa., April 15, 2025 /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $90.4 million, or $0.49 per diluted share, for the first quarter of 2025, an increase of $24.4 million, or $0.13 per share, in comparison to the fourth quarter of 2024. Operating net income available to common shareholders for the three months ended March 31, 2025 was $95.5 million, or $0.52 per diluted share(1), an increase of $6. ...

Fulton Financial (FULT) shares ended the last trading session 6.9% higher at $16.27. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 11.7% loss over the past four weeks.Fulton Financial stock surged during a broad market rally, driven by President Donald Trump’s announcement of a 90-day tariff pause for non-retaliating nations. This news boosted investor confidence, triggering a sharp rise in FULT shares.This finan ...

Core Viewpoint - Analysts expect Fulton Financial (FULT) to report quarterly earnings of $0.44 per share, reflecting a 10% year-over-year increase, with revenues projected at $317.9 million, up 38% from the previous year [1]. Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 1.5%, indicating a reassessment by analysts of their initial forecasts [2]. - Revisions to earnings projections are crucial for predicting investor behavior and are linked to short-term stock price performance [3]. Key Financial Metrics - The consensus for the 'Efficiency Ratio' is expected to be 61.2%, down from 63.2% a year ago [5]. - Analysts predict a 'Net Interest Margin' of 3.4%, slightly up from 3.3% in the previous year [5]. - The 'Average Balance - Total Interest-Earning Assets' is estimated at $30.20 billion, compared to $25.60 billion in the same quarter last year [5]. Income Projections - 'Net Interest Income (FTE)' is projected to reach $251.27 million, up from $211.53 million in the same quarter last year [6]. - 'Total Non-Interest Income' is expected to be $66.87 million, compared to $57.14 million in the same quarter last year [6]. - 'Non-Interest Income - Total consumer banking' is forecasted at $13.66 million, up from $11.67 million a year ago [7]. - The consensus for 'Mortgage banking' stands at $3.01 million, slightly down from $3.09 million last year [7]. - 'Wealth management' is estimated at $22.11 million, compared to $20.16 million in the previous year [7]. - 'Non-Interest Income - Other' is expected to reach $5.28 million, up from $3.40 million last year [8]. - 'Non-Interest Income - Total commercial banking' is projected at $21.84 million, compared to $18.83 million a year ago [8]. Stock Performance - Over the past month, Fulton Financial shares have returned -7.8%, while the Zacks S&P 500 composite has changed by -5.3% [8]. - Currently, FULT holds a Zacks Rank 3 (Hold), suggesting its performance may align with the overall market in the near future [8].

Media Contact: Rachel Sharkey (717) 291-2831 Investor Contact: Matt Jozwiak (717) 327-2657 LANCASTER, Pa., April 1, 2025 /PRNewswire/ -- Fulton Financial Corporation ("Fulton") (Nasdaq: FULT) today announced that it will distribute its first quarter 2025 earnings release and accompanying charts on Tuesday, April 15, at approximately 4:30 p.m. Eastern Time. SOURCE Fulton Financial Corporation The link to the webcast of this call can be found at https://investor.fultonbank.com. Participants can also access th ...