Fulton Financial Corporation Announces 2025 Third Quarter Results

Core Insights - Fulton Financial Corporation reported a net income available to common shareholders of $97.9 million, or $0.53 per diluted share, for Q3 2025, reflecting a $1.3 million increase from Q2 2025 [1][2] - The operating net income for the same period was $101.3 million, or $0.55 per diluted share, which is a $0.7 million increase compared to Q2 2025 [1][3] - For the nine months ended September 30, 2025, net income available to common shareholders was $285.0 million, or $1.55 per diluted share, marking a significant increase of $72.5 million, or $0.34 per diluted share, from the same period in 2024 [2] Financial Performance - The net interest income for Q3 2025 totaled $264.2 million, an increase of $9.3 million from the previous quarter [7] - Non-interest income rose by $1.3 million to $70.4 million compared to $69.1 million in Q2 2025 [7] - Non-interest expense increased by $3.8 million to $196.6 million, primarily due to a rise in salaries and employee benefits [7] Asset Quality and Credit Losses - The provision for credit losses was $10.2 million, resulting in an allowance for credit losses of $376.3 million, or 1.57% of total net loans as of September 30, 2025 [7][19] - Non-performing assets were reported at $201.0 million, or 0.63% of total assets, down from $215.6 million, or 0.67% of total assets, in the previous quarter [7][19] - Annualized net charge-offs for Q3 2025 were 0.18% of total average loans, a slight decrease from 0.20% in the prior quarter [7][17] Capital and Shareholder Returns - The common equity tier 1 capital ratio increased to approximately 11.5% from 11.3% in the prior quarter [7][17] - The company repurchased 1,650,000 shares of common stock at a cost of $30.8 million under the 2025 Repurchase Program, with an average price of $18.67 per share [7][6] - Cash dividends remained stable at $0.18 per share for the third quarter [15][21] Loan and Deposit Trends - Total net loans as of September 30, 2025, were $24.0 billion, showing a nominal increase from the previous quarter [7][19] - Deposits totaled $26.3 billion, an increase of $194.4 million compared to $26.1 billion as of June 30, 2025, driven by seasonal trends in interest-bearing demand deposits [7][19]