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 ...

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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 ...

Financial Data and Key Metrics Changes - Operating earnings per diluted share for the quarter were $0.47, an increase from $0.40 in the first quarter of 2024 [61] - Net interest income was $242 million, a $35 million increase from the previous quarter, with net interest margin increasing by 11 basis points to 3.43% [63] - Total deposits increased by $3.8 billion, or 17.6% linked quarter, primarily due to the Republic transaction [62] Business Line Data and Key Metrics Changes - Non-interest income for the quarter was $93 million, which included a loss on sale of investments of $20.3 million and a bargain purchase gain of $47.4 million from the Republic transaction [15] - Wealth management revenues increased to $21 million, representing almost one-third of fee-based revenues, with over 80% recurring [16] - Commercial banking fees increased by $2.6 million, with solid growth in merchant cash management and SBA [17] Market Data and Key Metrics Changes - The provision for credit losses was $8.6 million, down from $10.9 million in the first quarter, indicating stable credit metrics [31] - The allowance for credit losses as a percentage of loans increased to 1.56% at quarter end, primarily due to the Republic portfolio [14] - Non-performing loans (NPLs) increased by $6.2 million, but the NPL to loans ratio decreased from 73 basis points to 67 basis points [36] Company Strategy and Development Direction - The company is focused on the integration of the Republic transaction, with most integration work expected to be completed by year-end [44] - The company is also working on the Fulton First initiative, aimed at improving operational efficiencies over a 12 to 18 month period [32] - The loan-to-deposit ratio ended the quarter at 94.3%, below the long-term target of 95% to 105%, providing growth opportunities [42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the updated net interest income guidance for 2024, which is projected to be between $925 million and $950 million [3] - The company anticipates a single 25 basis point decrease in Fed funds in September, which may impact net interest margin [20] - Management noted that customer demand remains conservative, with expectations of low single-digit organic loan growth going forward [80] Other Important Information - The company executed a sale-leaseback transaction and investment portfolio restructuring, which is expected to add an estimated $8.5 million in annual interest income [57] - The effective tax rate for the year is expected to be in the range of 16% to 18% [4] - The company maintained solid capital ratios, with capital levels remaining healthy [42] Q&A Session Summary Question: Can you provide more detail on net interest income guidance? - Management indicated that they do not provide forward guidance on net interest margin but expect continued migration from non-interest-bearing to interest-bearing deposits [10] Question: What is the impact of the Republic transaction on the balance sheet? - Management confirmed that they have fully reinvested funds from the Republic transaction, which positively impacts net interest income [13] Question: What are the expectations for deposit runoff from Republic? - Management expects some runoff from municipal relationships but indicated that the initial estimates of $600 million in deposit runoff are being adjusted as the situation stabilizes [65][86] Question: How is the company managing costs post-acquisition? - Management is focused on retaining customers and talent while working through integration, aiming for cost savings to be realized by January 1, 2025 [70] Question: What is the outlook for loan growth? - Management expects modest organic loan growth, with a focus on prudent credit decisions in the current market environment [124]

LANCASTER, Pa., July 16, 2024 /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $92.4 million, or $0.52 per diluted share, for the second quarter of 2024, an increase of $33.0 million, or $0.16 per share, in comparison to the first quarter of 2024. Operating net income available to common shareholders for the three months ended June 30, 2024 was $82.5 million, or $0.47 per diluted share(1), an increase of $17.1 ...

The reported revenue represents a surprise of +12.45% over the Zacks Consensus Estimate of $301.7 million. With the consensus EPS estimate being $0.25, the EPS surprise was +88.00%. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Efficiency Ratio: 62.6% compared to the 63.9% average estimate based on four analysts. Net Interest Margi ...

This quarterly report represents an earnings surprise of 88%. A quarter ago, it was expected that this financial holding company would post earnings of $0.39 per share when it actually produced earnings of $0.40, delivering a surprise of 2.56%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While Fulton Financial has underperformed the market so far this yea ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Media Contact: Lacey Dean (717) 735-8688 Investor Contact: Matt Jozwiak (717) 327-2657 (July 16, 2024) – Lancaster, PA – Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $92.4 million, or $0.52 per diluted share, for the second quarter of 2024, an increase of $33.0 million, or $0.16 per share, in comparison to the first quarter of 2024. Operating net income available to common shareholders f ...