Fulton Financial Corporation Announces 2025 Fourth Quarter and Full-Year Results

Rhea-AI Summary

Fulton Financial Corporation (NASDAQ: FULT) reported Q4 2025 net income of $96.4M ($0.53 diluted) and 2025 net income of $381.4M ($2.08 diluted), a year-over-year increase of $102.9M. Operating net income for 2025 was $396.8M ($2.16 diluted), up $68.7M vs. 2024.

Key metrics: net interest margin 3.59%, provision for credit losses $2.9M, allowance for loan losses $364.5M (1.51% of loans), non-interest expense $213.0M in Q4, and $59.0M repurchased under the 2025 program as of Dec 31, 2025. Board approved a $150M 2026 repurchase program.

Positive

• 2025 net income increased by $102.9M year-over-year
• Operating net income 2025 of $396.8M (+$68.7M YoY)
• Net interest margin of 3.59% in Q4 2025
• Repurchased $59.0M of common stock in 2025

Negative

• Q4 2025 non-interest expense rose to $213.0M
• Provision for credit losses quarterly volatility: $2.9M vs prior $10.245M
• Annualized net charge-offs increased to 0.24% from 0.18%

News Market Reaction

+2.58% 1.9x vol

1 alert

+2.58% News Effect

+$93M Valuation Impact

$3.69B Market Cap

1.9x Rel. Volume

On the day this news was published, FULT gained 2.58%, reflecting a moderate positive market reaction. This price movement added approximately $93M to the company's valuation, bringing the market cap to $3.69B at that time. Trading volume was above average at 1.9x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q4 2025 net income: $96.4 million Q4 2025 diluted EPS: $0.53 FY 2025 net income: $381.4 million +5 more

8 metrics

Q4 2025 net income $96.4 million Net income available to common shareholders, Q4 2025

Q4 2025 diluted EPS $0.53 Net income per diluted share, Q4 2025

FY 2025 net income $381.4 million Net income available to common shareholders, year ended Dec 31, 2025

FY 2025 diluted EPS $2.08 Net income per diluted share, year ended Dec 31, 2025; up $0.51 vs 2024

Operating diluted EPS 2025 $2.16 Operating net income per diluted share, year ended Dec 31, 2025; up $0.31 vs 2024

Net interest margin 3.59% Q4 2025 net interest margin

Q4 non-interest expense $213.0 million Total non-interest expense, Q4 2025; up $16.4M vs prior quarter

CET1 capital ratio 11.8% Common equity tier 1 capital ratio as of Dec 31, 2025

Market Reality Check

Price: $20.65 Vol: Volume 3,278,221 vs 20-da...

high vol

$20.65 Last Close

Volume Volume 3,278,221 vs 20-day average 1,710,011, indicating elevated trading activity ahead of/around the release. high

Technical Shares at $20.51, trading above the 200-day moving average of $18.24 and 4.16% below the 52-week high of $21.40.

Peers on Argus

While FULT was down 1.65%, key regional bank peers like INDB (+4.65%), FIBK (+4....

While FULT was down 1.65%, key regional bank peers like INDB (+4.65%), FIBK (+4.59%), CATY (+4.55%), RNST (+3.77%) and FHB (+3.61%) traded higher, pointing to a stock-specific reaction rather than a sector-wide move.

Historical Context

4 past events · Latest: Nov 24 (Positive)

Pattern 4 events

Date	Event	Sentiment	Move	Catalyst
Nov 24	All-stock acquisition	Positive	-1.2%	Announced Blue Foundry Bancorp all-stock merger with expected EPS accretion.
Dec 16	Dividend & buyback	Positive	+2.3%	Increased common dividend and authorized $150M securities repurchase program.
Dec 18	Management change	Neutral	-1.2%	Appointed new treasurer to oversee treasury and balance-sheet strategy.
Jan 06	Earnings schedule	Neutral	+0.5%	Set dates for Q4 2025 earnings release and analyst conference call.

Pattern Detected

Recent news shows positive capital return and M&A announcements, with the buyback/dividend news aligning with a price rise while the Blue Foundry merger saw a modest negative reaction.

Recent Company History

Over the past few months, Fulton announced several strategic updates. On Nov 24–25, 2025, it agreed to acquire Blue Foundry Bancorp in an all-stock merger expected to be accretive to earnings and tangible book value. On Dec 16, 2025, the board raised the common dividend to $0.19 and approved a new $150 million repurchase program, which coincided with a 2.31% share price gain. An earnings-call scheduling release on Jan 6, 2026 had only a modest impact. Today’s full-year 2025 results update fits into this trajectory of capital return and balance-sheet growth.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-08-11

An effective S-3ASR shelf filed on Aug 11, 2025 allows Fulton to issue common and preferred stock, various debt securities, warrants, purchase contracts and units over time, with specific terms to be detailed in future prospectus supplements.

Market Pulse Summary

This announcement details Fulton's 2025 results, highlighting full-year net income of $381.4 million...

Analysis

This announcement details Fulton's 2025 results, highlighting full-year net income of $381.4 million, diluted EPS of $2.08, and a net interest margin of 3.59% in Q4. Asset quality metrics, including non-performing assets at 0.58% of total assets and an ACL-to-loans ratio of 1.51%, frame credit risk. Investors may focus on rising non-interest expenses, capital ratios such as CET1 at 11.8%, and execution on authorized share repurchase programs as key watchpoints.

Key Terms

net interest margin, provision for credit losses, allowance for credit losses, non-performing assets, +4 more

8 terms

net interest margin financial

"Solid net interest margin of 3.59%, with a 13 basis point decrease..."

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

provision for credit losses financial

"Provision for credit losses was $2.9 million resulting in an allowance..."

Provision for credit losses is an amount set aside by a financial institution to cover potential future losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution manage risks and stay financially healthy. For investors, it signals how cautious a lender is about potential loan defaults and can impact the company's profitability and financial stability.

allowance for credit losses financial

"resulting in an allowance for credit losses attributable to net loans of $364.5 million..."

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

non-performing assets financial

"Non-performing assets were $185.2 million, or 0.58% of total assets..."

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

common equity tier 1 capital ratio regulatory

"Common equity tier 1 capital ratio(2) increased to approximately 11.8%..."

A bank’s common equity tier 1 (CET1) capital ratio measures the size of its strongest loss-absorbing capital—mainly common shares and retained earnings—relative to the bank’s assets after adjusting those assets for how risky they are (riskier loans count more). Think of it as the safety cushion compared with the weight of risky business; investors use it to judge a bank’s ability to survive losses, meet rules, and sustain dividends or growth.

brokered deposits financial

"The increase was primarily due to increases of $145.4 million in brokered deposits..."

Brokered deposits are large sums of customer cash placed at a bank through a third-party intermediary that shops around for the best interest rate, like a broker assembling a big bucket of savings and directing it to a bank. They matter to investors because they can quickly change a bank’s funding level and cost — providing fast liquidity but also adding volatility and regulatory scrutiny that can affect a bank’s stability and profitability.

accelerated share repurchase financial

"including without limitation, through accelerated share repurchase transactions."

An accelerated share repurchase is a deal where a company hires a bank to buy back a large block of its own stock immediately on the open market, with the bank later settling the exact number of shares over time. For investors it matters because the immediate reduction in shares outstanding can raise per‑share earnings and often supports the stock price, but it also uses company cash or borrowing and can change liquidity and future growth funding.

tangible common equity ratio financial

"Tangible common equity ratio ("TCE") (2) | 8.5 % | | 8.3 %..."

Tangible common equity ratio measures how much real, loss-absorbing capital common shareholders have relative to a company's tangible assets—calculated by removing intangible items (like goodwill) and preferred equity from total equity and comparing that net amount to tangible assets. Think of it as the thickness of a safety cushion made of solid, visible value rather than accounting entries; investors use it to judge how well a company could withstand losses and protect common shareholders' claims.

AI-generated analysis. Not financial advice.

LANCASTER, Pa., Jan. 21, 2026 /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $96.4 million, or $0.53 per diluted share, for the fourth quarter of 2025, a decrease of $1.5 million in comparison to the third quarter of 2025. Operating net income available to common shareholders for the three months ended December 31, 2025 was $99.4 million⁽¹⁾, or $0.55 per diluted share⁽¹⁾, a decrease of $1.9 million in comparison to the third quarter of 2025.

Net income available to common shareholders for the year ended December 31, 2025 was $381.4 million, or $2.08 per diluted share, an increase of $102.9 million, or $0.51 per diluted share, in comparison to the year ended December 31, 2024. Operating net income available to common shareholders for the year ended December 31, 2025, was $396.8 million⁽¹⁾, or $2.16 per diluted share⁽¹⁾, an increase of $68.7 million, or $0.31 per diluted share, in comparison to the year ended December 31, 2024.

"The strength of our strategy and the dedication of our team combined to generate a 17% increase in our operating diluted earnings per share," said Curtis J. Myers, Fulton Chairman, CEO and President. "In 2025, we delivered value to customers, expanded our team and customer base, and generated solid financial performance."

Financial Highlights

Fourth quarter of 2025 operating results of $0.55 per diluted share⁽¹⁾ were impacted by the following items:

• Solid net interest margin of 3.59%, with a 13 basis point decrease in total cost of funds compared to the prior quarter.
• Non-interest income decreased $0.4 million to $70.0 million compared to $70.4 million in the prior quarter.
• Non-interest expense increased $16.4 million to $213.0 million compared to $196.6 million in the prior quarter. Operating non-interest expense increased $12.7 million to $204.1 million⁽¹⁾ compared to $191.4 million in the prior quarter.
• Provision for credit losses was $2.9 million resulting in an allowance for credit losses attributable to net loans of $364.5 million, or 1.51% of total net loans as of December 31, 2025.
• Common equity tier 1 capital ratio⁽²⁾ increased to approximately 11.8% compared to 11.6% in the prior quarter.
• During the fourth quarter of 2025, 1,082,678 shares of the Corporation's common stock were repurchased under the 2025 Repurchase Program⁽³⁾ at a cost of $19.9 million or an average of $18.34 per share. The Corporation repurchased $59.0 million of common stock under the 2025 Repurchase Program as of December 31, 2025.
• On December 16, 2025, the Corporation announced that its Board of Directors approved the 2026 Repurchase Program⁽⁴⁾. Under the 2026 Repurchase Program, the Corporation is authorized to repurchase up to $150 million of shares of its common stock and certain other securities.

The following items highlight notable changes in the components of net income in the fourth quarter of 2025 compared to the third quarter of 2025:

• Net interest income totaled $266.0 million, an increase of $1.8 million. A $5.9 million decrease in interest expense on deposits, a $3.6 million decrease in interest expense on other borrowings and other interest-bearing liabilities and a $1.3 million increase in interest income on other interest-earning assets were partially offset by decreases of $6.4 million in interest income on net loans and $2.4 million in interest income on investments securities. Purchase loan mark accretion from loans acquired in the Acquisition⁽⁵⁾ was $10.5 million in the fourth quarter of 2025 compared to $12.7 million in the prior quarter.
• Non-interest income before investment securities gains (losses) was $70.0 million compared to $70.4 million in the prior quarter. The $0.4 million decrease was primarily due to a decrease of $1.7 million in income from equity method investments and a $1.1 million gain on sale of commercial loans in the prior quarter, both reflected in other non-interest income, which were partially offset by increases of $1.2 million in wealth management revenues, $0.9 million in commercial customer derivative fee income, reflected in capital markets income, and $0.6 million in small business administration income, reflected in other commercial banking income.
• Non-interest expense was $213.0 million compared to $196.6 million in the prior quarter. The $16.4 million increase in non-interest expense was primarily due to a $10.4 million increase in salaries and employee benefits expense largely due to increases of $7.5 million in incentive compensation expense, $1.0 million in employee healthcare expense and $0.6 million in employee severance expense. Additionally, increases of $1.6 million in net occupancy expense largely due to snow removal and maintenance costs, and $1.2 million in data processing and software expense contributed to the increase in non-interest expense.

Balance Sheet Summary

• Total net loans totaled $24.1 billion, an increase of $103.4 million, compared to $24.0 billion as of September 30, 2025. The increase was largely due to increases of $73.4 million in consumer loans⁽⁶⁾ and $30.0 million in commercial loans.⁽⁶⁾
• Deposits totaled $26.6 billion, an increase of $256.9 million, compared to $26.3 billion as of September 30, 2025. The increase was primarily due to increases of $145.4 million in brokered deposits, $119.9 million in noninterest-bearing demand deposits and $95.2 million in savings deposits, partially offset by decreases of $65.2 million in interest-bearing demand deposits and $38.3 million in time deposits.

Provision for Credit Losses and Asset Quality

• The provision for credit losses was $2.9 million in the fourth quarter of 2025, resulting in a $364.5 million allowance for credit losses attributable to net loans, or 1.51% of total net loans as of December 31, 2025, compared to $376.3 million, or 1.57% of total net loans as of September 30, 2025.
• Non-performing assets were $185.2 million, or 0.58% of total assets, as of December 31, 2025, in comparison to $201.0 million, or 0.63% of total assets, as of September 30, 2025.
• Annualized net charge-offs for the fourth quarter of 2025 were 0.24% of total average loans in comparison to 0.18% in the prior quarter.

Additional information on Fulton is available on the Internet at www.fultonbank.com.

(1)	Financial measure derived by methods other than generally accepted accounting principles ("GAAP"). Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of the press release.
(2)	Regulatory capital ratios as of December 31, 2025, are preliminary estimates and prior periods are actual.
(3)	The 2025 Repurchase Program represented the authorization, commencing on January 1, 2025 and expiring on December 31, 2025, to repurchase up to $125 million of the Corporation's common stock. Under this authorization, up to $25 million of the $125 million authorization could be used to repurchase the Corporation's preferred stock and outstanding subordinated notes due 2030. As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases were made from time to time under the 2025 Repurchase Program in open market or privately negotiated transactions, including without limitation, through accelerated share repurchase transactions.
(4)	The 2026 Repurchase Program represents the authorization, commencing on January 1, 2026 and expiring on January 31, 2027, to repurchase up to $150 million, excluding fees, commissions, excise tax and other ancillary expenses, of the Corporation's common stock. Under this authorization, up to $25 million of the $150 million authorization may be used to repurchase the Corporation's preferred stock, outstanding subordinated notes due 2030 or outstanding subordinated notes due 2035. As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time under the 2026 Repurchase Program in open market or privately negotiated transactions, including without limitation, through accelerated share repurchase transactions. The 2026 Repurchase Program may be discontinued at any time.
(5)	On April 26, 2024, the Corporation announced that its wholly owned banking subsidiary, Fulton Bank, National Association ("Fulton Bank"), acquired substantially all of the assets and assumed substantially all of the deposits and certain liabilities of Republic First Bank, doing business as Republic Bank ("Republic Bank"), from the Federal Deposit Insurance Corporation (the "FDIC"), as receiver for Republic Bank (the "Acquisition"), pursuant to the terms of the Purchase and Assumption Agreement - Whole Bank, All Deposits, effective as of April 26, 2024 among the FDIC, as receiver of Republic Bank, the FDIC and Fulton Bank.
(6)	Commercial loans include real estate - commercial mortgage, commercial and industrial, leases and other loans and includes a decrease in commercial construction loans of $158.4 million, reflected in real estate - construction. Consumer loans include real estate - residential mortgage, real estate - home equity, consumer and includes a decrease of $6.1 million in residential construction loans, reflected in real estate - construction.
Note: Some numbers contained in this document may not sum due to rounding.

Safe Harbor Statement

This press release may contain forward-looking statements with respect to the Corporation's 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," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation's future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation's business or financial results.

Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025, September 30, 2025 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov), including, without limitation, the Cautionary Note Regarding Forward-Looking Statements set forth in the Current Report on Form 8-K filed by the Corporation on November 25, 2025.

Non-GAAP Financial Measures

The Corporation uses certain financial measures in this press release that have been derived from methods other than GAAP. These non-GAAP financial measures are reconciled to the most comparable GAAP measures in tables at the end of this press release.

FULTON FINANCIAL CORPORATION
SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
(dollars in thousands, except per share and shares data)
	Three months ended
	Dec 31		Sep  30		Jun 30		Mar 31		Dec 31
	2025		2025		2025		2025		2024
Ending Balances
Investment securities(1)	$   4,833,744		$    5,045,270		$   5,093,027		$   5,071,323		$   4,806,468
Net loans	24,144,884		24,041,489		24,012,539		23,862,574		24,044,919
Total assets	32,118,400		31,995,086		32,040,448		32,132,028		32,071,810
Deposits	26,589,407		26,332,490		26,138,067		26,328,972		26,129,433
Shareholders' equity	3,490,447		3,413,598		3,329,246		3,274,321		3,197,325
Average Balances
Investment securities(1)	4,921,669		5,025,072		5,084,371		4,906,952		4,771,537
Net loans	24,053,089		24,020,322		23,899,743		24,006,863		24,068,784
Total assets	32,013,163		31,924,038		31,901,574		31,971,601		32,098,852
Deposits	26,537,659		26,298,680		26,125,602		26,169,883		26,313,378
Shareholders' equity	3,464,539		3,361,368		3,304,015		3,254,125		3,219,026
Income Statement
Net interest income	266,042		264,198		254,921		251,187		253,659
Provision for credit losses	2,948		10,245		8,607		13,898		16,725
Non-interest income	69,980		70,407		69,148		67,232		65,924
Non-interest expense	212,986		196,574		192,811		189,460		216,615
Income before taxes	120,088		127,786		122,651		115,061		86,243
Net income available to common shareholders	96,408		97,892		96,636		90,425		66,058
Per Share
Net income available to common shareholders (basic)	$0.53		$0.54		$0.53		$0.50		$0.36
Net income available to common shareholders (diluted)	$0.53		$0.53		$0.53		$0.49		$0.36
Operating net income available to common shareholders(2)	$0.55		$0.55		$0.55		$0.52		$0.48
Cash dividends	$0.19		$0.18		$0.18		$0.18		$0.18
Common shareholders' equity	$18.33		$17.81		$17.20		$16.91		$16.50
Common shareholders' equity (tangible)(2)	$14.92		$14.39		$13.78		$13.46		$13.01
Weighted average shares (basic)	180,405		181,658		182,261		182,179		182,032
Weighted average shares (diluted)	182,197		183,349		183,813		184,077		183,867
(1) Includes related unrealized holding gains (losses) for available for sale ("AFS") securities.
(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.
	Three months ended
	Dec 31		Sep  30		Jun 30		Mar 31		Dec 31
	2025		2025		2025		2025		2024
Asset Quality
Net charge-offs to average loans (annualized)	0.24 %		0.18 %		0.20 %		0.21 %		0.22 %
Non-performing loans to total net loans	0.76 %		0.83 %		0.89 %		0.82 %		0.92 %
Non-performing assets to total assets	0.58 %		0.63 %		0.67 %		0.62 %		0.69 %
ACL - loans(1) to total loans	1.51 %		1.57 %		1.57 %		1.59 %		1.58 %
ACL - loans(1) to non-performing loans	198 %		189 %		177 %		193 %		172 %
Profitability
Return on average assets	1.23 %		1.25 %		1.25 %		1.18 %		0.85 %
Operating return on average assets(2)	1.27 %		1.29 %		1.30 %		1.25 %		1.14 %
Return on average common shareholders' equity	11.69 %		12.26 %		12.46 %		11.98 %		8.68 %
Operating return on average common shareholders' equity (tangible)(2)	14.86 %		15.79 %		16.26 %		15.95 %		14.83 %
Net interest margin	3.59 %		3.57 %		3.47 %		3.43 %		3.41 %
Efficiency ratio(2)	60.0 %		56.5 %		57.1 %		56.7 %		58.4 %
Non-interest expense to total average assets	2.64 %		2.44 %		2.42 %		2.40 %		2.68 %
Operating non-interest expense to total average assets(2)	2.53 %		2.38 %		2.36 %		2.32 %		2.36 %
Capital Ratios(3)
Tangible common equity ratio ("TCE")(2)	8.5 %		8.3 %		8.0 %		7.8 %		7.5 %
Tier 1 leverage ratio	9.7 %		9.6 %		9.4 %		9.2 %		9.0 %
Common equity Tier 1 capital ratio	11.8 %		11.6 %		11.3 %		11.1 %		10.8 %
Tier 1 risk-based capital ratio	12.6 %		12.4 %		12.1 %		11.9 %		11.5 %
Total risk-based capital ratio	15.2 %		15.0 %		14.7 %		14.5 %		14.3 %
(1) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Net Loans" and does not include the ACL related to off-balance-sheet     ("OBS") credit exposures.
(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.
(3) Regulatory capital ratios as of December 31, 2025 are preliminary estimates and prior periods are actual.

 

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
(dollars in thousands)
		Dec 31		Sep  30		Jun 30		Mar 31		Dec 31
		2025		2025		2025		2025		2024
ASSETS
	Cash and due from banks	$     271,463		$     307,267		$     362,280		$     388,503		$     279,041
	Other interest-earning assets	911,155		643,111		583,899		778,117		924,404
	Loans held for sale	16,316		19,875		23,281		15,965		25,618
	Investment securities	4,833,744		5,045,270		5,093,027		5,071,323		4,806,468
	Net loans	24,144,884		24,041,489		24,012,539		23,862,574		24,044,919
	Less: ACL - loans(1)	(364,462)		(376,258)		(377,337)		(379,677)		(379,156)
	Loans, net	23,780,422		23,665,231		23,635,202		23,482,897		23,665,763
	Net premises and equipment	175,240		178,644		184,290		186,873		195,527
	Accrued interest receivable	113,698		114,003		117,130		116,215		117,029
	Goodwill and intangible assets	612,996		618,361		623,729		629,189		635,458
	Other assets	1,403,366		1,403,324		1,417,610		1,462,946		1,422,502
	Total Assets	$ 32,118,400		$ 31,995,086		$ 32,040,448		$ 32,132,028		$ 32,071,810
LIABILITIES AND SHAREHOLDERS' EQUITY
	Deposits	$ 26,589,407		$ 26,332,490		$ 26,138,067		$ 26,328,972		$ 26,129,433
	Borrowings	1,297,375		1,471,961		1,773,900		1,657,200		1,782,048
	Other liabilities	741,171		777,037		799,235		871,535		963,004
	Total Liabilities	28,627,953		28,581,488		28,711,202		28,857,707		28,874,485
	Shareholders' equity	3,490,447		3,413,598		3,329,246		3,274,321		3,197,325
	Total Liabilities and Shareholders' Equity	$ 32,118,400		$ 31,995,086		$ 32,040,448		$ 32,132,028		$ 32,071,810
LOANS, DEPOSITS AND BORROWINGS DETAIL:
Loans, by type:
	Real estate - commercial mortgage	$  9,820,944		$  9,734,156		$  9,678,038		$  9,676,517		$  9,601,858
	Commercial and industrial	4,539,060		4,437,905		4,541,765		4,531,266		4,605,589
	Real estate - residential mortgage	6,669,993		6,617,017		6,511,687		6,409,657		6,349,643
	Real estate - home equity	1,242,831		1,214,399		1,193,410		1,170,470		1,160,616
	Real estate - construction	970,298		1,134,748		1,155,099		1,175,445		1,394,899
	Consumer	564,349		566,291		583,949		597,305		616,856
	Leases and other loans(2)	337,409		336,973		348,591		301,914		315,458
	Total Net Loans	$ 24,144,884		$ 24,041,489		$ 24,012,539		$ 23,862,574		$ 24,044,919
Deposits, by type:
	Noninterest-bearing demand	$  5,256,096		$  5,136,210		$  5,337,771		$  5,435,934		$  5,499,760
	Interest-bearing demand	7,970,188		8,035,393		7,593,083		7,804,388		7,843,604
	Savings	8,512,829		8,417,678		8,271,925		8,208,526		7,792,114
	Total demand and savings	21,739,113		21,589,281		21,202,779		21,448,848		21,135,478
	Brokered	855,042		709,667		817,398		738,458		843,857
	Time	3,995,252		4,033,542		4,117,890		4,141,666		4,150,098
	Total Deposits	$ 26,589,407		$ 26,332,490		$ 26,138,067		$ 26,328,972		$ 26,129,433
Borrowings, by type:
	Federal Home Loan Bank advances	$     250,000		$     450,000		$     800,000		$     750,000		$     850,000
	Senior debt and subordinated debt	367,637		367,557		367,476		367,396		367,316
	Other borrowings	679,738		654,404		606,424		539,804		564,732
	Total Borrowings	$  1,297,375		$  1,471,961		$  1,773,900		$  1,657,200		$  1,782,048
(1) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.
(2) Includes equipment lease financing, overdraft and net origination fees and costs.

 

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands, except per share and share data)
			Three months ended										Year ended
			Dec 31		Sep  30		Jun 30		Mar 31		Dec 31		Dec 31
			2025		2025		2025		2025		2024		2025		2024
Net Interest Income:
	Interest income		$ 403,416		$ 411,006		$ 402,761		$ 399,692		$ 414,368		$  1,616,874		$  1,582,196
	Interest expense		137,374		146,808		147,840		148,505		160,709		580,527		621,871
	Net Interest Income		266,042		264,198		254,921		251,187		253,659		1,036,347		960,325
	Provision for credit losses		2,948		10,245		8,607		13,898		16,725		35,698		71,636
	Net Interest Income after Provision		263,094		253,953		246,314		237,289		236,934		1,000,649		888,689
Non-Interest Income:
	Wealth management		23,879		22,639		22,281		21,785		22,002		90,584		84,743
	Commercial banking:
	Merchant and card		6,847		7,327		7,376		6,591		7,082		28,141		29,186
	Cash management		8,374		8,335		8,376		7,799		7,633		32,884		28,106
	Capital markets		3,730		2,908		2,945		2,411		2,797		11,995		11,033
	Other commercial banking		5,162		4,595		4,734		4,528		4,942		19,018		16,657
	Total commercial banking		24,113		23,165		23,431		21,329		22,454		92,038		84,982
	Consumer banking:
	Card		8,366		8,246		7,958		7,544		8,064		32,114		30,914
	Overdraft		4,109		4,153		3,817		3,295		3,644		15,373		13,764
	Other consumer banking		2,967		2,775		2,753		2,229		2,601		10,725		10,826
	Total consumer banking		15,442		15,174		14,528		13,068		14,309		58,212		55,504
	Mortgage banking		3,636		3,711		3,991		3,138		3,759		14,477		13,943
	Gain on acquisition, net of tax		—		—		—		—		(2,689)		—		36,996
	Other		2,910		5,718		4,917		7,914		6,089		21,457		19,846
	Non-interest income before investment securities (losses) gains		69,980		70,407		69,148		67,234		65,924		276,768		296,014
	Investment securities (losses) gains, net		—		—		—		(2)		—		(2)		(20,283)
	Total Non-Interest Income		69,980		70,407		69,148		67,232		65,924		276,766		275,731
Non-Interest Expense:
	Salaries and employee benefits		121,632		111,265		107,123		103,526		107,886		443,546		432,821
	Data processing and software		19,695		18,535		18,262		18,599		19,550		75,091		77,882
	Net occupancy		17,554		15,954		16,410		18,207		16,417		68,125		69,359
	Other outside services		13,105		12,951		12,009		11,837		14,531		49,902		60,586
	Intangible amortization		5,365		5,368		5,460		6,269		6,282		22,462		17,830
	FDIC insurance		4,540		5,089		4,951		5,597		5,921		20,178		23,829
	Equipment		4,001		3,926		4,100		4,150		4,388		16,176		17,850
	Professional fees		2,088		2,320		2,163		(1,078)		3,387		5,493		10,857
	Marketing		1,694		2,470		2,604		2,521		2,695		9,288		8,958
	Acquisition-related expenses		802		—		—		380		9,637		1,182		37,635
	Other		22,510		18,696		19,729		19,452		25,921		80,386		62,184
	Total Non-Interest Expense		212,986		196,574		192,811		189,460		216,615		791,829		819,791
	Income Before Income Taxes		120,088		127,786		122,651		115,061		86,243		485,586		344,629
	Income tax expense		21,118		27,332		23,453		22,074		17,623		93,977		55,886
	Net Income		98,970		100,454		99,198		92,987		68,620		391,609		288,743
	Preferred stock dividends		(2,562)		(2,562)		(2,562)		(2,562)		(2,562)		(10,248)		(10,248)
	Net Income Available to Common  Shareholders		$   96,408		$   97,892		$   96,636		$   90,425		$   66,058		$ 381,361		$ 278,495
			Three months ended										Year ended
			Dec 31		Sep  30		Jun 30		Mar 31		Dec 31		Dec 31
			2025		2025		2025		2025		2024		2025		2024
PER SHARE:
	Net income available to common shareholders (basic)		$0.53		$0.54		$0.53		$0.50		$0.36		$2.10		$1.59
	Net income available to common shareholders (diluted)		$0.53		$0.53		$0.53		$0.49		$0.36		$2.08		$1.57
	Cash dividends		$0.19		$0.18		$0.18		$0.18		$0.18		$0.73		$0.69
	Weighted average shares (basic)		180,405		181,658		182,261		182,179		182,032		181,621		175,523
	Weighted average shares (diluted)		182,197		183,349		183,813		184,077		183,867		183,289		177,223

 

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
(dollars in thousands)
		Three months ended
		December 31, 2025						September 30, 2025						December 31, 2024
		Average				Yield/		Average				Yield/		Average				Yield/
		Balance		Interest(1)		Rate		Balance		Interest(1)		Rate		Balance		Interest(1)		Rate
ASSETS
Interest-earning assets:
	Net loans(2)	$  24,053,089		$ 352,014		5.82 %		$  24,020,322		$ 358,443		5.93 %		$  24,068,784		$ 360,642		5.97 %
	Investment securities(3)	5,159,396		47,007		3.64 %		5,330,905		49,442		3.70 %		5,033,765		44,616		3.54 %
	Other interest-earning assets	820,025		8,811		4.27 %		622,832		7,557		4.83 %		1,086,536		13,453		4.93 %
	Total Interest-Earning Assets	30,032,510		407,832		5.40 %		29,974,059		415,442		5.51 %		30,189,085		418,711		5.53 %
Noninterest-earning assets:
	Cash and due from banks	284,768						312,578						288,867
	Premises and equipment	178,194						181,116						183,801
	Other assets	1,898,152						1,837,179						1,816,421
	Less: ACL - loans(4)	(380,461)						(380,894)						(379,322)
	Total Assets	$  32,013,163						$  31,924,038						$  32,098,852
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$ 7,984,980		$   33,831		1.68 %		$ 7,876,227		$   36,369		1.83 %		$ 7,838,590		$   37,952		1.93 %
	Savings deposits	8,519,075		47,219		2.20 %		8,391,379		48,237		2.28 %		7,806,303		47,280		2.41 %
	Brokered deposits	803,755		8,325		4.11 %		694,486		7,689		4.39 %		877,526		10,619		4.81 %
	Time deposits	3,986,459		34,996		3.48 %		4,097,195		37,942		3.67 %		4,232,849		46,023		4.33 %
	Total Interest-Bearing Deposits	21,294,269		124,371		2.32 %		21,059,287		130,237		2.45 %		20,755,268		141,874		2.72 %
	Borrowings and other interest-bearing liabilities	1,345,837		13,003		3.83 %		1,564,996		16,571		4.20 %		1,847,431		18,835		4.06 %
	Total Interest-Bearing Liabilities	22,640,106		137,374		2.41 %		22,624,283		146,808		2.57 %		22,602,699		160,709		2.83 %
Noninterest-bearing liabilities:
	Demand deposits	5,243,390						5,239,393						5,558,110
	Other liabilities	665,128						698,994						719,017
	Total Liabilities	28,548,624						28,562,670						28,879,826
	Total Deposits	26,537,659				1.86 %		26,298,680				1.96 %		26,313,378				2.14 %
	Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)	27,883,496				1.96 %		27,863,676				2.09 %		28,160,809				2.27 %
	Shareholders' equity	3,464,539						3,361,368						3,219,026
	Total Liabilities and Shareholders' Equity	$  32,013,163						$  31,924,038						$  32,098,852
	Net interest income/net interest margin (fully taxable equivalent)			270,458		3.59 %				268,634		3.57 %				258,002		3.41 %
	Tax equivalent adjustment			(4,416)						(4,436)						(4,343)
	Net Interest Income			$ 266,042						$ 264,198						$ 253,659
	(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
	(2) Average balances include non-performing loans.
	(3) Average balances include amortized historical cost for AFS securities; the related unrealized holding gains (losses) are included in other assets.
	(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.

 

FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)
(dollars in thousands)
		Three months ended
		Dec 31		Sep  30		Jun 30		Mar 31		Dec 31
		2025		2025		2025		2025		2024
Loans, by type:
	Real estate - commercial mortgage	$ 9,785,717		$ 9,721,395		$ 9,652,320		$ 9,655,283		$ 9,595,996
	Commercial and industrial	4,473,522		4,494,662		4,530,085		4,608,401		4,730,101
	Real estate - residential mortgage	6,646,318		6,560,413		6,448,443		6,367,978		6,319,205
	Real estate - home equity	1,223,293		1,191,465		1,179,109		1,160,713		1,116,665
	Real estate - construction	1,014,343		1,125,130		1,172,138		1,296,090		1,312,245
	Consumer	577,136		590,658		599,505		615,741		665,261
	Leases and other loans(1)	332,760		336,599		318,142		302,657		329,311
	Total Net Loans	$  24,053,089		$  24,020,322		$  23,899,742		$  24,006,863		$  24,068,784
Deposits, by type:
	Noninterest-bearing demand	$ 5,243,390		$ 5,239,393		$ 5,303,997		$ 5,412,063		$ 5,558,110
	Interest-bearing demand	7,984,980		7,876,227		7,800,881		7,753,586		7,838,590
	Savings	8,519,075		8,391,379		8,219,637		7,971,728		7,806,303
	Total demand and savings	21,747,445		21,506,999		21,324,515		21,137,377		21,203,003
	Brokered	803,755		694,486		688,957		904,722		877,526
	Time	3,986,459		4,097,195		4,112,130		4,127,784		4,232,849
	Total Deposits	$  26,537,659		$  26,298,680		$  26,125,602		$  26,169,883		$  26,313,378
Borrowings, by type:
	Federal funds purchased	$            54		$            —		$        1,099		$            —		$            54
	Federal Home Loan Bank advances	237,880		484,022		712,198		709,367		727,957
	Senior debt and subordinated debt	367,598		367,517		367,438		367,357		449,795
	Other borrowings and other interest-bearing liabilities	740,305		713,456		675,511		678,176		669,625
	Total Borrowings	$ 1,345,837		$ 1,564,995		$ 1,756,246		$ 1,754,900		$ 1,847,431
(1) Includes equipment lease financing, overdraft and net origination fees and costs.

 

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
(dollars in thousands)
			Year ended December 31,
			2025						2024
			Average				Yield/		Average				Yield/
			Balance		Interest(1)		Rate		Balance		Interest(1)		Rate
ASSETS
Interest-earning assets:
	Net loans(2)		$      23,995,200		$   1,407,669		5.87 %		$      23,145,114		$   1,406,216		6.08 %
	Investment securities(3)		5,270,122		193,154		3.66 %		4,486,726		143,317		3.19 %
	Other interest-earning assets		729,300		33,731		4.63 %		962,971		50,578		5.25 %
	Total Interest-Earning Assets		29,994,622		1,634,554		5.45 %		28,594,811		1,600,111		5.60 %
Noninterest-Earning assets:
	Cash and due from banks		294,284						295,156
	Premises and equipment		184,342						197,823
	Other assets		1,862,326						1,761,083
	Less: ACL - loans(4)		(382,941)						(375,743)
	Total Assets		$      31,952,633						$      30,473,130
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-Bearing liabilities:
	Demand deposits		$        7,854,613		$      139,134		1.77 %		$        7,049,915		$      128,969		1.83 %
	Savings deposits		8,277,276		188,019		2.27 %		7,364,106		180,455		2.45 %
	Brokered deposits		772,488		33,547		4.34 %		981,060		51,691		5.27 %
	Time deposits		4,080,550		153,993		3.77 %		3,747,029		160,744		4.29 %
	Total Interest-Bearing Deposits		20,984,927		514,693		2.45 %		19,142,110		521,859		2.73 %
	Borrowings and other interest-bearing liabilities		1,604,263		65,834		4.10 %		2,280,382		100,012		4.39 %
	Total Interest-Bearing Liabilities		22,589,190		580,527		2.57 %		21,422,492		621,871		2.90 %
Noninterest-Bearing liabilities:
	Demand deposits		5,299,084						5,394,518
	Other liabilities		717,729						630,478
	Total Liabilities		28,606,003						27,447,488
	Total Deposits		26,284,011				1.96 %		24,536,628				2.13 %
	Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)		27,888,274				2.08 %		26,817,010				2.32 %
	Shareholders' equity		3,346,630						3,025,642
	Total Liabilities and Shareholders' Equity		$      31,952,633						$      30,473,130
	Net interest income/net interest margin (fully taxable equivalent)				1,054,027		3.51 %				978,240		3.42 %
	Tax equivalent adjustment				(17,680)						(17,915)
	Net Interest Income				$   1,036,347						$      960,325
	(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
	(2) Average balances include non-performing loans.
	(3) Average balances include amortized historical cost for AFS; the related unrealized holding gains (losses) are included in other assets.
	(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.

 

FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)
(dollars in thousands)
			Year ended December 31,
			2025		2024
Loans, by type:
	Real estate - commercial mortgage		$              9,704,084		$              9,052,738
	Commercial and industrial		4,526,210		4,779,254
	Real estate - residential mortgage		6,506,700		5,925,708
	Real estate - home equity		1,188,824		1,060,520
	Real estate - construction		1,151,081		1,275,562
	Consumer		595,640		725,308
	Leases and other loans(1)		322,661		326,024
	Total Net Loans		$            23,995,200		$            23,145,114
Deposits, by type:
	Noninterest-bearing demand		$              5,299,084		$              5,394,518
	Interest-bearing demand		7,854,613		7,049,915
	Savings		8,277,276		7,364,106
	Total demand and savings		21,430,973		19,808,539
	Brokered		772,488		981,060
	Time		4,080,550		3,747,029
	Total Deposits		$            26,284,011		$            24,536,628
Borrowings, by type:
	Federal funds purchased		$                         288		$                    51,306
	Federal Home Loan Bank advances		534,433		804,328
	Senior debt and subordinated debt		367,478		514,073
	Other borrowings and other interest-bearing liabilities		702,064		910,675
	Total Borrowings		$              1,604,263		$              2,280,382
(1) Includes equipment lease financing, overdraft and net origination fees and costs.

 

FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
(dollars in thousands)
		Three months ended										Year ended
		Dec 31		Sep  30		Jun 30		Mar 31		Dec 31		Dec 31		Dec 31
		2025		2025		2025		2025		2024		2025		2024
Allowance for credit losses related to net loans:
Balance at beginning of period		$  376,258		$  377,337		$  379,677		$  379,156		$  375,961		$  379,156		$  293,404
	CECL day 1 provision expense(1)	—		—		—		—		—		—		23,444
	Initial purchased credit deteriorated allowance for credit losses	—		—		—		—		(136)		—		54,631
	Loans charged off:
	Real estate - commercial mortgage	(14,104)		(3,906)		(6,402)		(12,106)		(2,844)		(36,518)		(13,186)
	Commercial and industrial	(5,295)		(5,847)		(5,780)		(3,865)		(9,480)		(20,787)		(26,585)
	Real estate - residential mortgage	(58)		(394)		(258)		(343)		(55)		(1,053)		(1,472)
	Consumer and home equity	(2,212)		(2,527)		(1,885)		(2,193)		(2,179)		(8,817)		(8,490)
	Real estate - construction	—		(5,286)		(100)		—		—		(5,386)		—
	Leases and other loans(2)	(1,140)		(1,479)		(1,491)		(1,527)		(1,768)		(5,637)		(4,696)
	Total loans charged off	(22,809)		(19,439)		(15,916)		(20,034)		(16,326)		(78,198)		(54,429)
Recoveries of loans previously charged off:
	Real estate - commercial mortgage	633		4,307		133		374		199		5,447		603
	Commercial and industrial	6,592		3,205		2,628		5,952		1,387		18,377		4,440
	Real estate - residential mortgage	230		33		203		174		104		640		472
	Consumer and home equity	861		726		899		660		974		3,146		3,357
	Real estate - construction	—		47		99		82		47		227		382
	Leases and other loans(2)	146		192		240		201		194		780		730
	Total recoveries of loans previously charged off	8,462		8,510		4,202		7,443		2,905		28,617		9,984
Net loans charged off		(14,347)		(10,929)		(11,714)		(12,591)		(13,421)		(49,581)		(44,445)
Provision for credit losses(1)		2,551		9,850		9,374		13,112		16,752		34,887		52,122
Balance at end of period		$  364,462		$  376,258		$  377,337		$  379,677		$  379,156		$  364,462		$  379,156
Net charge-offs to average loans(3)		0.24 %		0.18 %		0.20 %		0.21 %		0.22 %		0.21 %		0.19 %
Provision for credit losses related to OBS Credit Exposures
	Provision for credit losses(1)	$      397		$      395		$   (767)		$      786		$     (27)		$      811		$ (3,930)
NON-PERFORMING ASSETS:
	Non-accrual loans	$  153,872		$  150,137		$  182,942		$  162,426		$  189,293
	Loans 90 days past due and accruing	29,924		48,597		29,949		34,367		30,781
	Total non-performing loans	183,796		198,734		212,891		196,793		220,074
	Other real estate owned	1,365		2,305		2,706		2,193		2,621
	Total non-performing assets	$  185,161		$  201,039		$  215,597		$  198,986		$  222,695
NON-PERFORMING LOANS, BY TYPE:
	Commercial and industrial	$  47,756		$  48,817		$  45,565		$  42,913		$  43,677
	Real estate - commercial mortgage	74,981		87,789		90,852		88,081		102,359
	Real estate - residential mortgage	45,569		44,689		37,703		46,878		45,901
	Consumer and home equity	11,875		12,658		11,109		12,682		14,374
	Real estate - construction	2,267		3,461		25,602		3,666		1,746
	Leases and other loans(2)	1,348		1,320		2,060		2,573		12,017
	Total non-performing loans	$  183,796		$  198,734		$  212,891		$  196,793		$  220,074
(1) The sum of these amounts are reflected in the provision for credit losses in the Condensed Consolidated Statements of Income.
(2) Includes equipment lease financing, overdraft and net origination fees and costs.
(3) Quarterly results are annualized.

 

FULTON FINANCIAL CORPORATION
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
(dollars in thousands, except per share and share data)
Explanatory note:	This press release contains supplemental financial information, as detailed below, that has been derived by methods other than GAAP. The Corporation has presented these non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Management believes that these non-GAAP financial measures, in addition to GAAP measures, are also useful to investors to evaluate the Corporation's results. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure follow:
						Three months ended
						Dec 31		Sep  30		Jun 30		Mar 31		Dec 31
						2025		2025		2025		2025		2024
Operating net income available to common shareholders
Net income available to common shareholders						$        96,408		$       97,892		$       96,636		$       90,425		$       66,058
Less: Other (1)						(4,989)		(738)		(9)		(122)		(269)
Plus: Gain on acquisition, net of tax						—		—		—				2,689
Plus: Core deposit intangible amortization						5,255		5,255		5,346		6,155		6,155
Plus: Acquisition-related expense						802		—		—		380		9,637
Plus: FDIC special assessment						(95)		—		—		—		—
Plus: FultonFirst implementation and asset disposals						2,795		(207)		(270)		(47)		10,001
Less: Tax impact of adjustments						(791)		(905)		(1,064)		(1,337)		(5,360)
Operating net income available to common shareholders (numerator)						$        99,385		$     101,297		$     100,639		$       95,454		$       88,911
Weighted average shares (diluted) (denominator)						182,197		183,349		183,813		184,077		183,867
Operating net income available to common shareholders, per share (diluted)						$           0.55		$          0.55		$          0.55		$          0.52		$          0.48
Common shareholders' equity (tangible), per share
Shareholders' equity						$     3,490,447		$    3,413,598		$    3,329,246		$    3,274,321		$    3,197,325
Less: Preferred stock						(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Goodwill and intangible assets						(612,996)		(618,361)		(623,729)		(629,189)		(635,458)
Tangible common shareholders' equity (numerator)						$     2,684,573		$    2,602,359		$    2,512,639		$    2,452,254		$    2,368,989
Shares outstanding, end of period (denominator)						179,895		180,865		182,379		182,204		182,089
Common shareholders' equity (tangible), per share						$          14.92		$         14.39		$         13.78		$         13.46		$         13.01
(1) Includes loan recovery adjustments of $5.0 million and $0.6 million in the fourth quarter of 2025 and the third quarter of 2025, respectively, reflected in the provision for credit losses related to a loan acquired in the Acquisition.
						Three months ended
						Dec 31		Sep  30		Jun 30		Mar 31		Dec 31
						2025		2025		2025		2025		2024
Operating return on average assets
Net income						$        98,970		$     100,454		$       99,198		$       92,987		$       68,620
Less: Other (1)						(4,989)		(738)		(9)		(122)		(269)
Less: Gain on acquisition, net of tax						—		—		—		—		2,689
Plus: Core deposit intangible amortization						5,255		5,255		5,346		6,155		6,155
Plus: Acquisition-related expense						802		—		—		380		9,637
Plus: FDIC special assessment						(95)		—		—		—		—
Plus: FultonFirst implementation and asset disposals						2,795		(207)		(270)		(47)		10,001
Less: Tax impact of adjustments						(791)		(905)		(1,064)		(1,337)		(5,360)
Operating net income (numerator)						$      101,947		$     103,859		$     103,201		$       98,016		$       91,473
Total average assets						$   32,013,163		$  31,924,038		$  31,901,574		$  31,971,601		$  32,098,852
Less: Average net core deposit intangible						(60,726)		(65,999)		(71,282)		(77,039)		(83,173)
Total operating average assets  (denominator)						$   31,952,437		$  31,858,039		$  31,830,292		$  31,894,562		$  32,015,679
Operating return on average assets(2)						1.27 %		1.29 %		1.30 %		1.25 %		1.14 %
Operating return on average common shareholders' equity (tangible)
Net income available to common shareholders						$        96,408		$       97,892		$       96,636		$       90,425		$       66,058
Less: Other (1)						(4,989)		(738)		(9)		(122)		(269)
Less: Gain on acquisition, net of tax						—		—		—		—		2,689
Plus: Intangible amortization						5,365		5,368		5,460		6,269		6,282
Plus: Acquisition-related expense						802		—		—		380		9,637
Plus: FDIC special assessment						(95)		—		—		—
Plus: FultonFirst implementation and asset disposals						2,795		(207)		(270)		(47)		10,001
Less: Tax impact of adjustments						(814)		(929)		(1,088)		(1,361)		(5,387)
Adjusted net income available to common shareholders (numerator)						$        99,472		$     101,386		$     100,729		$       95,544		$       89,011
Average shareholders' equity						$     3,464,539		$    3,361,368		$    3,304,015		$    3,254,125		$    3,219,026
Less: Average preferred stock						(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Average goodwill and intangible assets						(615,600)		(620,986)		(626,383)		(632,254)		(638,507)
Average tangible common shareholders' equity (denominator)						$     2,656,061		$    2,547,504		$    2,484,754		$    2,428,993		$    2,387,641
Operating return on average common shareholders' equity (tangible)(2)						14.86 %		15.79 %		16.26 %		15.95 %		14.83 %
Tangible common equity to tangible assets (TCE Ratio)
Shareholders' equity						$     3,490,447		$    3,413,598		$    3,329,246		$    3,274,321		$    3,197,325
Less: Preferred stock						(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Goodwill and intangible assets						(612,996)		(618,361)		(623,729)		(629,189)		(635,458)
Tangible common shareholders' equity (numerator)						$     2,684,573		$    2,602,359		$    2,512,639		$    2,452,254		$    2,368,989
Total assets						$   32,118,400		$  31,995,086		$  32,040,448		$  32,132,028		$  32,071,810
Less: Goodwill and intangible assets						(612,996)		(618,361)		(623,729)		(629,189)		(635,458)
Total tangible assets (denominator)						$   31,505,404		$  31,376,725		$  31,416,719		$  31,502,839		$  31,436,352
Tangible common equity to tangible assets						8.52 %		8.29 %		8.00 %		7.78 %		7.54 %
(1) Results are annualized.
(2) Includes loan recovery adjustments of $5.0 million and $0.6 million in the fourth quarter of 2025 and the third quarter of 2025, respectively, reflected in the provision for credit losses related to a loan acquired in the Acquisition.
						Three months ended
						Dec 31		Sep  30		Jun 30		Mar 31		Dec 31
						2025		2025		2025		2025		2024
Efficiency ratio
Non-interest expense						$      212,986		$     196,574		$     192,811		$     189,460		$     216,615
Less: Acquisition-related expense						(802)		—		—		(380)		(9,637)
Less: FDIC special assessment						95		—		—		—		—
Less: FultonFirst implementation and asset disposals						(2,795)		207		270		47		(10,001)
Less: Intangible amortization						(5,365)		(5,368)		(5,460)		(6,269)		(6,282)
Operating non-interest expense (numerator)						$      204,119		$     191,413		$     187,621		$     182,858		$     190,695
Net interest income						$      266,042		$     264,198		$     254,921		$     251,187		$     253,659
Tax equivalent adjustment						4,416		4,436		4,389		4,340		4,343
Plus: Total non-interest income						69,980		70,407		69,148		67,232		65,924
Less: Other revenue						11		(138)		(9)		(122)		(269)
Less: Gain on acquisition, net of tax						—		—		—		—		2,689
Plus: Investment securities (gains) losses, net						—		—		—		2		—
Total revenue (denominator)						$      340,449		$     338,903		$     328,449		$     322,639		$     326,346
Efficiency ratio						60.0 %		56.5 %		57.1 %		56.7 %		58.4 %
Operating non-interest expense to total average assets
Non-interest expense						$      212,986		$     196,574		$     192,811		$     189,460		$     216,615
Less: Intangible amortization						(5,365)		(5,368)		(5,460)		(6,269)		(6,282)
Less: Acquisition-related expense						(802)		—		—		(380)		(9,637)
Less: FDIC special assessment						95		—		—		—		—
Less: FultonFirst implementation and asset disposals						(2,795)		207		270		47		(10,001)
Operating non-interest expense (numerator)						$      204,119		$     191,413		$     187,621		$     182,858		$     190,695
Total average assets (denominator)						$   32,013,163		$  31,924,038		$  31,901,574		$  31,971,601		$  32,098,852
Operating non-interest expenses to total average assets(1)						2.53 %		2.38 %		2.36 %		2.32 %		2.36 %
(1) Results are annualized.
						Year Ended
						Dec 31		Dec 31
						2025		2024
Operating net income available to common shareholders
Net income available to common shareholders						$      381,361		$     278,495
Less: Other (1)						(5,858)		(1,805)
Plus Gain on acquisition, net of tax						—		(36,996)
Plus: Loss on securities restructuring						—		20,282
Plus: Core deposit intangible amortization						22,010		17,307
Plus: Acquisition-related expense						1,182		37,635
Plus: CECL Day 1 Provision						—		23,444
Less: Gain on sale-leaseback						—		(20,266)
Plus: FDIC special assessment						(95)		940
Plus: FultonFirst implementation and asset disposals						2,271		32,038
Less: Tax impact of adjustments						(4,097)		(23,011)
Operating net income available to common shareholders (numerator)						$      396,774		$     328,063
Weighted average shares (diluted) (denominator)						183,289		177,223
Operating net income available to common shareholders, per share (diluted)						$           2.16		$          1.85
(1) Includes a loan recovery adjustment of $5.6 million in 2025, reflected in the provision for credit losses related to a loan acquired in the Acquisition.

 

Media Contact: Lacey Dean (717) 735-8688
Investor Contact: Rick Kraemer (717) 327-2567

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SOURCE Fulton Financial Corporation

FAQ

What were Fulton Financial (FULT) Q4 2025 earnings per share and net income?

Q4 2025 net income was $96.4M, or $0.53 per diluted share.

How did Fulton Financial's full-year 2025 net income compare to 2024?

Full-year 2025 net income was $381.4M, up $102.9M versus 2024.

What dividend and share repurchase actions did Fulton (FULT) report for 2025–2026?

Fulton paid a $0.19 Q4 cash dividend and repurchased $59.0M in 2025; board approved a $150M 2026 repurchase program.

What was Fulton Financial's net interest margin and key balance sheet totals in Q4 2025?

Net interest margin was 3.59%; total net loans were $24.14B and deposits $26.59B.

How did asset quality move for Fulton (FULT) in Q4 2025?

Allowance for loan losses was $364.5M (1.51% of loans); non-performing assets were $185.2M (0.58% of assets).

Why did Fulton Financial's Q4 2025 non-interest expense increase?

Q4 non-interest expense rose to $213.0M, driven mainly by higher salaries and employee benefits, including incentive compensation.