Fulton Financial Corporation Announces Third Quarter 2026 Results

Lower acquisition-related expenses and improved credit measures accompanied quarterly earnings growth, while net interest margin narrowed.

Rhea-AI Summary

Fulton Financial (NASDAQ: FULT) reported third-quarter 2026 net income available to common shareholders of $114.1 million, higher than the prior quarter. Diluted earnings were $0.59, up $0.07 sequentially. Nine-month common net income reached $306.1 million, up $21.2 million from 2025, with diluted earnings of $1.62.

Quarterly net interest income rose $5.8 million to $290.0 million, while net interest margin slipped to 3.58%. Non-interest expense fell $12.4 million to $218.5 million, largely reflecting lower acquisition-related expenses. Deposits increased $571.0 million to $28.8 billion, and net loans rose $43.6 million to $26.0 billion. Non-performing assets declined to $179.4 million, and annualized net charge-offs fell to 0.14% of average loans. Fulton completed the Blue Foundry Bank integration and repurchased $56.1 million of common shares during the quarter.

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Positive

• Moderate pointThird-quarter common net income rose $14.2 million sequentially to $114.1 million; diluted earnings increased $0.07 to $0.59.
• Moderate pointNet interest income increased $5.8 million sequentially to $290.0 million in the third quarter.
• Moderate pointNon-interest expense decreased $12.4 million sequentially to $218.5 million, primarily reflecting lower acquisition-related expenses.
• Moderate pointDeposits increased $571.0 million to $28.8 billion from June 30 to September 30, 2026.
• Moderate pointAnnualized net charge-offs fell to 0.14% of average loans from 0.34% in the prior quarter.
• Moderate pointQuarter-end borrowings declined to $1.233 billion from $1.714 billion at June 30, 2026.
• Moderate pointThird-quarter common-share repurchases totaled 2,325,000 shares for $56.1 million, averaging $24.14 per share. 1.3% of market cap
• Moderate pointReturn on average common shareholders' equity increased to 12.52% from 11.14% in the second quarter.

9 minor points

• Minor pointNine-month common net income increased $21.2 million year over year to $306.1 million; diluted earnings rose $0.07 to $1.62.
• Minor pointNet loans increased $43.6 million to $26.0 billion from June 30 to September 30, 2026.
• Minor pointWealth management revenues increased $2.1 million from the second quarter.
• Minor pointNon-performing assets declined to $179.4 million, or 0.52% of assets, from $187.1 million, or 0.54%, sequentially.
• Minor pointCredit-loss provision decreased to $4.1 million from $4.9 million in the second quarter.
• Minor pointYear-to-date repurchases reached 4,062,650 shares for $91.8 million, averaging $22.58 per share through September 30.
• Minor pointBlue Foundry Bank integration was completed during the third quarter.
• Minor pointReturn on average assets improved to 1.33% from 1.20% in the second quarter.
• Minor pointNon-GAAP efficiency ratio improved to 56.8% from 57.3% in the second quarter.

Negative

• Moderate pointDeposit interest expense increased $9.0 million from the second quarter.
• Moderate pointShareholders' equity declined to $3.687 billion from $3.816 billion at June 30, 2026.
• Minor pointNet interest margin decreased two basis points to 3.58% from the second quarter.
• Minor pointNon-interest income declined $2.1 million sequentially to $77.2 million, primarily reflecting lower equity-method investment income.
• Minor pointNon-GAAP operating non-interest expense increased $0.6 million sequentially to $211.2 million.

6 minor points

• Minor pointSalaries and employee benefits expense increased $5.6 million sequentially, mainly from higher incentive compensation.
• Minor pointRepublic acquired-loan discount accretion declined to $8.3 million from $9.9 million in the second quarter.
• Minor pointBlue Foundry acquired-loan discount accretion declined to $4.6 million from $5.2 million in the second quarter.
• Minor pointCommercial loans decreased $63.3 million from June 30 to September 30, 2026.
• Minor pointNoninterest-bearing demand deposits decreased $45.8 million from June 30 to September 30, 2026.
• Minor pointTangible common equity ratio, a non-GAAP measure, declined to 8.4% from 8.8% at June 30, 2026.

News Explained

Fulton had repurchased 4,062,650 common shares for $91.8 million by September 30, 2026 under a program authorizing up to $150 million; that cap is permission, not a committed purchase, so the disclosed $91.8 million was executed by quarter-end.

Key Figures

Net income: $114.1 million Diluted EPS: $0.59 per diluted share Operating net income: $119.8 million +3 more

Net income

$114.1 million

3Q26; increased $14.2 million compared with 2Q26

Diluted EPS

$0.59 per diluted share

3Q26; increased $0.07 compared with 2Q26

Operating net income

$119.8 million

3Q26; increased $3.9 million compared with 2Q26

Operating diluted EPS

$0.62 per diluted share

3Q26; increased $0.02 compared with 2Q26

Net interest margin

3.58%

3Q26; decreased two basis points from the prior quarter

Shares repurchased

2,325,000 shares

3Q26; total cost of $56.1 million under the 2026 Repurchase Program

Previous Earnings Reports

1 past event · Latest: Jul 22

Same Type 1 event

1. Jul 22

   2Q earnings

   24h Move

   -0.7%

   Q2 reported $99.9 million net income and $0.52 diluted EPS, providing a prior-quarter baseline.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

net interest margin, common equity tier 1 capital ratio, allowance for credit losses, non-gaap

4 terms

net interest margin financial

"Net interest margin remained solid at 3.58%"

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.

common equity tier 1 capital ratio regulatory

"Common equity Tier 1 capital ratio was 12.2%"

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.

allowance for credit losses financial

"allowance for credit losses attributable to net loans"

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-gaap financial

"Financial measure derived by methods other than generally accepted accounting principles"

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

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LANCASTER, Pa., Oct. 21, 2026 /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $114.1 million, or $0.59 per diluted share, for the third quarter of 2026, an increase of $14.2 million, or $0.07 per diluted share, in comparison to the second quarter of 2026. Operating net income available to common shareholders for the three months ended September 30, 2026 was $119.8 million⁽¹⁾, or $0.62 per diluted share⁽¹⁾, an increase of $3.9 million, or $0.02 per diluted share, in comparison to the second quarter of 2026. 

Net income available to common shareholders for the nine months ended September 30, 2026 was $306.1 million, or $1.62 per diluted share, an increase of $21.2 million, or $0.07 per diluted share in comparison to the nine months ended September 30, 2025. Operating net income available to common shareholders for the nine months ended September 30, 2026, was $335.3 million⁽¹⁾, or $1.77 per diluted share⁽¹⁾, an increase of $37.9 million, or $0.15 per diluted share, in comparison to the nine months ended September 30, 2025.

"During the quarter, we achieved record financial results while successfully completing the Blue Foundry Bank integration and delivering solid growth in the customer base and customer funding," said Curtis J. Myers, Fulton Chairman, CEO and President. "Our ongoing strong performance reflects robust demand for our community banking model and the steadfast dedication of our team members to deliver a personalized experience. The sustained commitment to executing our strategic priorities is generating long-term value for our shareholders."

Financial Highlights

Third quarter of 2026 operating results of $0.62 per diluted share⁽¹⁾ were impacted by the following items:

• Net interest margin remained solid at 3.58%, representing a two basis point decrease from the prior quarter.
  
  
• Non-interest income decreased $2.1 million to $77.2 million compared to $79.3 million in the prior quarter. The decrease was primarily attributable to $6.9 million of income recognized from an equity method investment that was sold in the prior quarter.
  
  
• Non-interest expense decreased $12.4 million to $218.5 million compared to $231.0 million in the prior quarter. Operating non-interest expense increased $0.6 million to $211.2 million⁽¹⁾ compared to $210.6 million in the prior quarter.
  
  
• Provision for credit losses was $4.1 million resulting in an allowance for credit losses attributable to net loans of $375.6 million, or 1.45% of total net loans as of September 30, 2026. 
  
  
• Common equity Tier 1 capital ratio⁽²⁾ was 12.2% as of September 30, 2026. 
  
  
• During the third quarter of 2026, 2,325,000 shares of the Corporation's common stock were repurchased under the 2026 Repurchase Program⁽³⁾ at a cost of $56.1 million or an average of $24.14 per share. As of September 30, 2026, the Corporation repurchased 4,062,650 shares of the Corporation's common stock at a cost of $91.8 million or an average of $22.58 per share, under the 2026 Repurchase Program .

The following items highlight notable changes in the components of net income in the third quarter of 2026 compared to the second quarter of 2026:

• Net interest income increased $5.8 million to $290.0 million driven by a $6.1 million increase in interest income on net loans, a $4.3 million increase in interest income on investment securities, a $2.3 million increase in interest income on other interest-earning assets, and a $2.1 million decrease in interest expense on borrowings and other interest-bearing liabilities, partially offset by a $9.0 million increase in interest expense on deposits. Purchase loan mark accretion from loans acquired in the Republic Transaction⁽⁴⁾ was $8.3 million in the third quarter of 2026 compared to $9.9 million in the prior quarter. Purchase loan mark accretion from loans acquired in the Blue Foundry Bancorp Transaction⁽⁵⁾ was $4.6 million in the third quarter of 2026 compared to $5.2 million in the prior quarter. The decrease in interest expense on borrowings and other interest-bearing liabilities was partially due to $2.4 million of interest expense recognized in the second quarter of 2026 from the Corporation's $195.0 million aggregate principal amount of outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030 that were redeemed on June 15, 2026.
  
  
• Non-interest income before investment securities gains (losses) was $77.2 million compared to $79.3 million in the prior quarter. The $2.1 million decrease was primarily attributable to a $6.3 million decline in income from equity method investments, reflected in other income, mainly due to $6.9 million of income recognized from an equity method investment that was sold in the prior quarter. Compared to the prior quarter, wealth management revenues increased by $2.1 million. 
  
  
• Non-interest expense was $218.5 million compared to $231.0 million in the prior quarter. The $12.4 million decrease was primarily attributable to a $12.1 million decrease in acquisition-related expenses. Salaries and employee benefits expense increased $5.6 million mainly due to a $3.9 million increase in incentive compensation expense, a $0.8 million increase in base salary expense from one additional calendar day in the third quarter and a $0.8 million increase in recruiting expenses. Other non-interest expense for the second quarter included a $2.1 million charge incurred related to combining two employee pension plans and $0.8 million of debt extinguishment costs.

 Balance Sheet Summary

• Total net loans increased $43.6 million to $26.0 billion compared to $25.9 billion as of June 30, 2026. The increase was due to a $107.0 million increase in consumer loans⁽⁶⁾, partially offset by a $63.3 million decrease in commercial loans^(6). 
  
  
• Deposits totaled $28.8 billion, a $571.0 million increase compared to $28.3 billion as of June 30, 2026. The increase was attributable to increases of $601.0 million in savings deposits, $324.1 million in interest-bearing demand deposits and $120.3 million in time deposits, partially offset by decreases of $428.5 million in brokered deposits and $45.8 million in noninterest-bearing demand deposits. The increase in deposits was driven by solid commercial deposit growth and seasonal trends in the municipal deposit portfolio.

Provision for Credit Losses and Asset Quality

• The provision for credit losses totaled $4.1 million in the third quarter of 2026 compared to $4.9 million in the second quarter of 2026.
  
  
• The allowance for credit losses attributable to net loans was $375.6 million, or 1.45% of total net loans as of September 30, 2026, compared to $382.6 million, or 1.48% of total net loans as of June 30, 2026. 
  
  
• Non-performing assets were $179.4 million, or 0.52% of total assets, as of September 30, 2026, in comparison to $187.1 million, or 0.54% of total assets, as of June 30, 2026. 
  
  
• Annualized net charge-offs for the third quarter of 2026 were 0.14% of total average loans in comparison to 0.34% in the prior quarter. 

Additional information on Fulton is available 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 September 30, 2026 are preliminary estimates and prior periods are actual.
(3)	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 and outstanding subordinated notes. 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.
(4)	On April 26, 2024, 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 "Republic Transaction"), 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.
(5)	On April 1, 2026, the Corporation completed the acquisition of Blue Foundry Bancorp (the "Blue Foundry Bancorp Transaction") and Blue Foundry Bancorp's wholly owned subsidiary, Blue Foundry Bank, became a wholly owned subsidiary of the Corporation. On July 11, 2026, Blue Foundry Bank merged with and into the Corporation's wholly owned subsidiary Fulton Bank, with Fulton Bank continuing as the surviving bank.
(6)	Consumer loans include increases of $81.1 million in real estate - residential mortgage loans, $19.9 million in real estate - home equity loans, $4.8 million in consumer loans and $1.2 million in residential construction loans, reflected in real estate - construction. Commercial loans include decreases of $66.4 million in commercial construction loans, reflected in real estate - construction and $12.4 million in commercial and industrial loans, partially offset by an increase of $14.7 million in leases and other loans and $0.8 million in real estate - commercial mortgage.
Note: Some numbers contained in this document may not sum due to rounding.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to the Corporation's financial condition, results of operations and business. Forward-looking statements are any statement that does not relate to historical or current facts and 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, 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.

Numerous factors could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, including, but not limited to, the following: the impact of adverse conditions in the economy and financial markets; trade policies and the imposition of tariffs and retaliatory tariffs; the impacts of events affecting the financial services industry; the effects of actions by the federal government, including those of the Board of Governors of the Federal Reserve System and other government agencies, that impact the money supply and market interest rates; the effects of market interest rates and the relative balances of interest rate-sensitive assets to interest rate-sensitive liabilities on net interest margin and net interest income; the composition of the Corporation's loan portfolio and potential exposure to increased credit risk; the effects of changes in interest rates; investment securities gains and losses, including declines in the fair value of securities; disruptions in liquidity markets; capital and liquidity strategies; the Corporation's ability to generate capital internally or raise capital on favorable terms; the effects of competition; possible goodwill impairment charges; the impact of operational risks; the loss of, or failure to safeguard, confidential or proprietary information; the Corporation's failure to identify and promptly address cybersecurity risks; the impact of failures of the Corporation's third-party vendors to perform in accordance with contractual arrangements; the effects of concerns about other financial institutions on the Corporation; potential losses in connection with repurchase and indemnification payments related to sold loans; the effects of climate change on the Corporation's business and results of operations; the effects of increases in non-performing assets; the determination of the allowance for credit losses; the effects of the extensive level of regulation and supervision to which the Corporation and Fulton Bank are subject; changes in law, regulation and government policy; the continuing impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act; potential negative consequences resulting from regulatory violations, investigations and examinations; the effects of adverse outcomes in litigation and governmental or administrative proceedings; the effects of changes in U.S. federal, state or local tax laws; the effects of the significant amounts of time and expense associated with regulatory compliance and risk management; the Corporation's ability to realize anticipated reductions in non-interest expense and increases in revenue from strategic initiatives implemented from time to time; risks related to the acquisition of Blue Foundry Bancorp; completed and potential future acquisitions may affect costs and the Corporation may not be able to successfully integrate the acquired business or realize the anticipated benefits from such acquisitions; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism, military conflicts, wars and other international hostilities; public health crises and pandemics; the Corporation's ability to achieve its growth plans; the Corporation's ability to attract and retain talented personnel; the effects of competition from financial service companies and other companies offering bank services; the Corporation's ability to keep pace with technological changes; the Corporation's reliance on its subsidiaries for substantially all of its revenues; and the effects of negative publicity on the Corporation's reputation. For additional information about factors that could cause actual results to differ materially from those described in forward-looking statements, refer to 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, 2025, Quarterly Report on Form 10-Q for the quarters ended March 31, 2026 and June 30, 2026 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).

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
	Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
	2026		2026		2026		2025		2025
Ending Balances
Investment securities(1)	$   5,321,773		$    5,122,759		$   4,861,967		$   4,833,744		$   5,045,270
Net loans	25,977,924		25,934,293		24,266,345		24,144,884		24,041,489
Total assets	34,775,370		34,556,720		32,237,438		32,118,400		31,995,086
Deposits	28,821,365		28,250,342		26,768,335		26,589,407		26,332,490
Shareholders' equity	3,686,752		3,815,813		3,505,283		3,490,447		3,413,598
Average Balances
Investment securities(1)	5,250,831		4,983,015		4,785,276		4,921,669		5,025,072
Net loans	25,973,093		25,883,823		24,225,655		24,053,089		24,020,322
Total assets	34,836,627		34,193,608		31,999,228		32,013,163		31,924,038
Deposits	28,770,984		28,014,666		26,451,094		26,537,659		26,298,680
Shareholders' equity	3,807,728		3,788,421		3,543,911		3,464,539		3,361,368
Income Statement
Net interest income	290,035		284,252		262,023		266,042		264,198
Provision for credit losses	4,059		4,897		14,442		2,948		10,245
Non-interest income	77,225		79,306		69,841		69,980		70,407
Non-interest expense	218,517		230,954		200,294		212,986		196,574
Income before taxes	144,684		127,707		117,128		120,088		127,786
Net income available to common shareholders	114,095		99,852		92,199		96,408		97,892
Per Share
Net income available to common shareholders (basic)	$0.60		$0.52		$0.51		$0.53		$0.54
Net income available to common shareholders (diluted)	$0.59		$0.52		$0.51		$0.53		$0.53
Operating net income available to common shareholders(2)	$0.62		$0.60		$0.55		$0.55		$0.55
Cash dividends	$0.19		$0.19		$0.19		$0.19		$0.18
Common shareholders' equity	$18.46		$18.92		$18.52		$18.33		$17.81
Common shareholders' equity (tangible)(2)	$15.14		$15.61		$15.12		$14.92		$14.39
Weighted average shares (basic)	190,642		191,386		179,720		180,405		181,658
Weighted average shares (diluted)	192,234		192,997		181,655		182,197		183,349
(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
	Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
	2026		2026		2026		2025		2025
Asset Quality
Net charge-offs to average loans (annualized)	0.14 %		0.34 %		0.25 %		0.24 %		0.18 %
Non-performing loans to total net loans	0.67 %		0.70 %		0.72 %		0.76 %		0.83 %
Non-performing assets to total assets	0.52 %		0.54 %		0.55 %		0.58 %		0.63 %
ACL - loans(1) to total loans	1.45 %		1.48 %		1.51 %		1.51 %		1.57 %
ACL - loans(1) to non-performing loans	216 %		211 %		209 %		198 %		189 %
Profitability
Return on average assets	1.33 %		1.20 %		1.20 %		1.23 %		1.25 %
Operating return on average assets(2)	1.40 %		1.39 %		1.30 %		1.27 %		1.29 %
Return on average common shareholders' equity	12.52 %		11.14 %		11.16 %		11.69 %		12.26 %
Operating return on average common shareholders' equity (tangible)(2)	15.94 %		15.71 %		14.76 %		14.86 %		15.79 %
Net interest margin	3.58 %		3.60 %		3.58 %		3.59 %		3.57 %
Efficiency ratio(2)	56.8 %		57.3 %		56.7 %		60.0 %		56.5 %
Non-interest expense to total average assets	2.49 %		2.71 %		2.54 %		2.64 %		2.44 %
Operating non-interest expense to total average assets(2)	2.41 %		2.47 %		2.42 %		2.53 %		2.38 %
Capital Ratios(3)
Tangible common equity ratio ("TCE")(2)	8.4 %		8.8 %		8.6 %		8.5 %		8.3 %
Tier 1 leverage ratio	9.9 %		10.0 %		9.9 %		9.7 %		9.6 %
Common equity Tier 1 capital ratio	12.2 %		12.2 %		11.9 %		11.8 %		11.6 %
Tier 1 risk-based capital ratio	12.9 %		12.9 %		12.7 %		12.6 %		12.4 %
Total risk-based capital ratio	16.0 %		16.0 %		15.2 %		15.2 %		15.0 %
(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 September 30, 2026 are preliminary estimates and prior periods are actual

 

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
(dollars in thousands)
		Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
		2026		2026		2026		2025		2025
ASSETS
	Cash and due from banks	$     272,674		$     325,259		$     311,796		$     271,463		$     307,267
	Other interest-earning assets	969,295		1,076,395		871,066		911,155		643,111
	Loans held for sale	16,044		33,902		11,887		16,316		19,875
	Investment securities	5,321,773		5,122,759		4,861,967		4,833,744		5,045,270
	Net loans	25,977,924		25,934,293		24,266,345		24,144,884		24,041,489
	Less: ACL - loans(1)	(375,635)		(382,580)		(367,489)		(364,462)		(376,258)
	Loans, net	25,602,289		25,551,713		23,898,856		23,780,422		23,665,231
	Net premises and equipment	181,019		186,184		168,941		175,240		178,644
	Accrued interest receivable	123,664		121,220		112,083		113,698		114,003
	Goodwill and intangible assets	627,923		633,485		607,647		612,996		618,361
	Other assets	1,660,689		1,505,803		1,393,195		1,403,366		1,403,324
	Total Assets	$ 34,775,370		$ 34,556,720		$ 32,237,438		$ 32,118,400		$ 31,995,086
LIABILITIES AND SHAREHOLDERS' EQUITY
	Deposits	$ 28,821,365		$ 28,250,342		$ 26,768,335		$ 26,589,407		$ 26,332,490
	Borrowings	1,232,869		1,713,976		1,252,579		1,297,375		1,471,961
	Other liabilities	1,034,384		776,589		711,241		741,171		777,037
	Total Liabilities	31,088,618		30,740,907		28,732,155		28,627,953		28,581,488
	Shareholders' equity	3,686,752		3,815,813		3,505,283		3,490,447		3,413,598
	Total Liabilities and Shareholders' Equity	$ 34,775,370		$ 34,556,720		$ 32,237,438		$ 32,118,400		$ 31,995,086
LOANS, DEPOSITS AND BORROWINGS DETAIL:
Loans, by type:
	Real estate - commercial mortgage	$ 10,915,582		$ 10,914,813		$  9,985,368		$  9,820,944		$  9,734,156
	Commercial and industrial	4,547,315		4,559,732		4,494,031		4,539,060		4,437,905
	Real estate - residential mortgage	7,332,034		7,250,949		6,735,338		6,669,993		6,617,017
	Real estate - home equity	1,355,940		1,336,068		1,253,192		1,242,831		1,214,399
	Real estate - construction	881,493		946,654		876,498		970,298		1,134,748
	Consumer	574,893		570,093		565,041		564,349		566,291
	Leases and other loans(2)	370,667		355,984		356,877		337,409		336,973
	Total Net Loans	$ 25,977,924		$ 25,934,293		$ 24,266,345		$ 24,144,884		$ 24,041,489
Deposits, by type:
	Noninterest-bearing demand	$  5,199,747		$  5,245,586		$  5,334,920		$  5,256,096		$  5,136,210
	Interest-bearing demand	8,470,142		8,146,057		7,823,683		7,970,188		8,035,393
	Savings	9,878,185		9,277,215		8,875,256		8,512,829		8,417,678
	Total demand and savings	23,548,074		22,668,858		22,033,859		21,739,113		21,589,281
	Brokered	546,707		975,204		715,850		855,042		709,667
	Time	4,726,584		4,606,280		4,018,626		3,995,252		4,033,542
	Total Deposits	$ 28,821,365		$ 28,250,342		$ 26,768,335		$ 26,589,407		$ 26,332,490
Borrowings, by type:
	Federal Home Loan Bank advances	$              —		$     552,500		$     200,000		$     250,000		$     450,000
	Senior debt and subordinated debt	469,876		469,668		367,720		367,637		367,557
	Other borrowings	762,993		691,808		684,859		679,738		654,404
	Total Borrowings	$  1,232,869		$  1,713,976		$  1,252,579		$  1,297,375		$  1,471,961
(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										Nine months ended
			Sep 30		Jun 30		Mar 31		Dec 31		Sep 30		Sep 30
			2026		2026		2026		2025		2025		2026		2025
Net Interest Income:
	Interest income		$ 440,908		$ 428,154		$ 390,056		$ 403,416		$ 411,006		$ 1,259,118		$ 1,213,458
	Interest expense		150,873		143,902		128,033		137,374		146,808		422,809		443,153
	Net Interest Income		290,035		284,252		262,023		266,042		264,198		836,309		770,305
	Provision for credit losses		4,059		4,897		14,442		2,948		10,245		23,397		32,749
	Net Interest Income after Provision		285,976		279,355		247,581		263,094		253,953		812,912		737,556
Non-Interest Income:
	Wealth management		25,257		23,139		24,496		23,879		22,639		72,891		66,705
	Commercial banking:
	Merchant and card		7,298		7,496		6,343		6,847		7,327		21,137		21,294
	Cash management		8,890		8,817		8,363		8,374		8,335		26,070		24,510
	Capital markets		3,675		3,530		3,614		3,730		2,908		10,819		8,264
	Other commercial banking		5,113		4,979		4,486		5,162		4,595		14,578		13,857
	Total commercial banking		24,976		24,822		22,806		24,113		23,165		72,604		67,925
	Consumer banking:
	Card		8,673		8,596		7,887		8,366		8,246		25,156		23,748
	Overdraft		4,265		3,858		3,798		4,109		4,153		11,921		11,265
	Other consumer banking		2,722		2,891		2,491		2,967		2,775		8,104		7,757
	Total consumer banking		15,660		15,345		14,176		15,442		15,174		45,181		42,770
	Mortgage banking		5,110		4,938		3,955		3,636		3,711		14,003		10,841
	Other		6,222		11,062		4,408		2,910		5,718		21,693		18,547
	Non-interest income before investment securities (losses) gains		77,225		79,306		69,841		69,980		70,407		226,372		206,788
	Investment securities (losses) gains, net		—		—		—		—		—		—		(2)
	Total Non-Interest Income		77,225		79,306		69,841		69,980		70,407		226,372		206,786
Non-Interest Expense:
	Salaries and employee benefits		125,764		120,184		109,917		121,632		111,265		355,865		321,914
	Data processing and software		20,898		20,419		18,662		19,695		18,535		59,979		55,396
	Net occupancy		18,714		17,841		18,229		17,554		15,954		54,784		50,571
	Other outside services		15,370		14,999		12,750		13,105		12,951		43,119		36,797
	Intangible amortization		5,561		5,910		5,349		5,365		5,368		16,821		17,097
	FDIC insurance		4,465		4,430		4,249		4,540		5,089		13,144		15,638
	Equipment		3,832		4,086		3,924		4,001		3,926		11,842		12,175
	Marketing		3,636		2,818		2,331		1,694		2,470		8,785		7,595
	Professional fees		3,229		2,342		2,239		2,088		2,320		7,809		3,405
	Acquisition-related expenses		1,740		13,839		2,644		802		—		18,223		380
	Other		15,308		24,086		20,000		22,510		18,696		59,393		57,877
	Total Non-Interest Expense		218,517		230,954		200,294		212,986		196,574		649,764		578,845
	Income Before Income Taxes		144,684		127,707		117,128		120,088		127,786		389,520		365,497
	Income tax expense		28,027		25,293		22,367		21,118		27,332		75,687		72,858
	Net Income		116,657		102,414		94,761		98,970		100,454		313,833		292,639
	Preferred stock dividends		(2,562)		(2,562)		(2,562)		(2,562)		(2,562)		(7,686)		(7,686)
	Net Income Available to Common  Shareholders		$ 114,095		$   99,852		$   92,199		$   96,408		$   97,892		$ 306,147		$ 284,953
			Three months ended										Nine months ended
			Sep 30		Jun 30		Mar 31		Dec 31		Sep 30		Sep 30
			2026		2026		2026		2025		2025		2026		2025
PER SHARE:
	Net income available to common shareholders:
	Net income available to common shareholders (basic)		$0.60		$0.52		$0.51		$0.53		$0.54		$1.63		$1.57
	Net income available to common shareholders (diluted)		$0.59		$0.52		$0.51		$0.53		$0.53		$1.62		$1.55
	Cash dividends		$0.19		$0.19		$0.19		$0.19		$0.18		$0.57		$0.54
	Weighted average shares (basic)		190,642		191,386		179,720		180,405		181,658		187,289		182,030
	Weighted average shares (diluted)		192,234		192,997		181,655		182,197		183,349		188,977		183,718

 

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
(dollars in thousands)
		Three months ended
		September 30, 2026						June 30, 2026						September 30, 2025
		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)	$ 25,973,093		$ 380,564		5.82 %		$ 25,883,823		$ 374,426		5.80 %		$ 24,020,322		$ 358,443		5.93 %
	Investment securities(3)	5,537,868		51,940		3.75 %		5,233,693		47,661		3.64 %		5,330,905		49,442		3.70 %
	Other interest-earning assets	1,228,130		12,711		4.11 %		997,586		10,377		4.17 %		622,832		7,557		4.83 %
	Total Interest-Earning Assets	32,739,091		445,215		5.41 %		32,115,102		432,464		5.40 %		29,974,059		415,442		5.51 %
Noninterest-earning assets:
	Cash and due from banks	314,436						310,904						312,578
	Premises and equipment	184,787						189,791						181,116
	Other assets	1,985,950						1,978,494						1,837,179
	Less: ACL - loans(4)	(387,637)						(400,683)						(380,894)
	Total Assets	$ 34,836,627						$ 34,193,608						$ 31,924,038
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$ 8,318,136		$   33,302		1.59 %		$ 8,279,932		$   32,443		1.57 %		$ 7,876,227		$   36,369		1.83 %
	Savings deposits	9,706,048		53,922		2.20 %		9,128,400		47,299		2.08 %		8,391,379		48,237		2.28 %
	Brokered deposits	812,556		8,110		3.96 %		887,546		8,589		3.88 %		694,486		7,689		4.39 %
	Time deposits	4,712,221		40,427		3.40 %		4,540,334		38,406		3.39 %		4,097,195		37,942		3.67 %
	Total Interest-Bearing Deposits	23,548,961		135,761		2.29 %		22,836,212		126,737		2.23 %		21,059,287		130,237		2.45 %
	Borrowings and other interest-bearing liabilities	1,566,225		15,112		3.83 %		1,744,871		17,165		3.95 %		1,564,996		16,571		4.20 %
	Total Interest-Bearing Liabilities	25,115,186		150,873		2.38 %		24,581,083		143,902		2.35 %		22,624,283		146,808		2.57 %
Noninterest-bearing liabilities:
	Demand deposits	5,222,023						5,178,454						5,239,393
	Other liabilities	691,690						645,650						698,994
	Total Liabilities	31,028,899						30,405,187						28,562,670
	Total Deposits	28,770,984				1.87 %		28,014,666				1.81 %		26,298,680				1.96 %
	Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)	30,337,209				1.97 %		29,759,537				1.94 %		27,863,676				2.09 %
	Shareholders' equity	3,807,728						3,788,421						3,361,368
	Total Liabilities and Shareholders' Equity	$ 34,836,627						$ 34,193,608						$ 31,924,038
	Net interest income/net interest margin (fully taxable equivalent)			294,342		3.58 %				288,562		3.60 %				268,634		3.57 %
	Tax equivalent adjustment			(4,307)						(4,310)						(4,436)
	Net Interest Income			$ 290,035						$ 284,252						$ 264,198
	(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
		Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
		2026		2026		2026		2025		2025
Loans, by type:
	Real estate - commercial mortgage	$ 10,906,964		$ 10,887,986		$ 9,930,713		$ 9,785,717		$ 9,721,395
	Commercial and industrial	4,572,754		4,602,800		4,522,694		4,473,522		4,494,662
	Real estate - residential mortgage	7,301,234		7,189,941		6,696,646		6,646,318		6,560,413
	Real estate - home equity	1,324,822		1,298,632		1,235,977		1,223,293		1,191,465
	Real estate - construction	918,036		962,625		926,026		1,014,343		1,125,130
	Consumer	593,202		592,106		576,852		577,136		590,658
	Leases and other loans(1)	356,081		349,733		336,747		332,760		336,599
	Total Net Loans	$ 25,973,093		$ 25,883,823		$ 24,225,655		$ 24,053,089		$ 24,020,322
Deposits, by type:
	Noninterest-bearing demand	$ 5,222,023		$ 5,178,454		$ 5,120,028		$ 5,243,390		$ 5,239,393
	Interest-bearing demand	8,318,136		8,279,932		7,774,121		7,984,980		7,876,227
	Savings	9,706,048		9,128,400		8,684,478		8,519,075		8,391,379
	Total demand and savings	23,246,207		22,586,786		21,578,627		21,747,445		21,506,999
	Brokered	812,556		887,546		856,823		803,755		694,486
	Time	4,712,221		4,540,334		4,015,644		3,986,459		4,097,195
	Total Deposits	$ 28,770,984		$ 28,014,666		$ 26,451,094		$ 26,537,659		$ 26,298,680
Borrowings, by type:
	Federal funds purchased	$            —		$            —		$            —		$            54		$            —
	Federal Home Loan Bank advances	241,032		475,983		221,039		237,880		484,022
	Senior debt and subordinated debt	469,787		509,493		367,679		367,598		367,517
	Other borrowings and other interest-bearing liabilities	855,406		759,395		770,395		740,305		713,456
	Total Borrowings	$ 1,566,225		$ 1,744,871		$ 1,359,113		$ 1,345,837		$ 1,564,995
(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)
			Nine months ended September 30,
			2026						2025
			Average				Yield/		Average				Yield/
			Balance		Interest(1)		Rate		Balance		Interest(1)		Rate
ASSETS
Interest-earning assets:
	Net loans(2)		$      25,367,258		$   1,096,831		5.78 %		$      23,975,693		$   1,055,558		5.88 %
	Investment securities(3)		5,259,513		144,372		3.66 %		5,307,436		146,147		3.67 %
	Other interest-earning assets		1,001,295		30,833		4.11 %		698,727		24,919		4.76 %
	Total Interest-Earning Assets		31,628,066		1,272,036		5.37 %		29,981,856		1,226,624		5.46 %
Noninterest-Earning assets:
	Cash and due from banks		308,524						297,491
	Premises and equipment		182,637						186,414
	Other assets		1,954,038						1,850,254
	Less: ACL - loans(4)		(386,382)						(383,776)
	Total Assets		$      33,686,883						$      31,932,239
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-Bearing liabilities:
	Demand deposits		$        8,126,056		$        94,782		1.56 %		$        7,810,681		$      105,303		1.80 %
	Savings deposits		9,176,718		145,884		2.13 %		8,195,790		140,800		2.30 %
	Brokered deposits		852,146		24,908		3.91 %		761,952		25,222		4.43 %
	Time deposits		4,425,284		112,729		3.41 %		4,112,258		118,998		3.87 %
	Total Interest-Bearing Deposits		22,580,204		378,303		2.24 %		20,880,681		390,323		2.50 %
	Borrowings and other interest-bearing liabilities		1,557,497		44,505		3.82 %		1,691,351		52,830		4.18 %
	Total Interest-Bearing Liabilities		24,137,701		422,808		2.34 %		22,572,032		443,153		2.62 %
Noninterest-Bearing liabilities:
	Demand deposits		5,173,875						5,317,851
	Other liabilities		660,987						735,460
	Total Liabilities		29,972,563						28,625,343
	Total Deposits		27,754,079				1.82 %		26,198,532				1.99 %
	Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)		29,311,576				1.93 %		27,889,883				2.12 %
	Shareholders' equity		3,714,320						3,306,896
	Total Liabilities and Shareholders' Equity		$      33,686,883						$      31,932,239
	Net interest income/net interest margin (fully taxable equivalent)				849,228		3.58 %				783,471		3.49 %
	Tax equivalent adjustment				(12,919)						(13,166)
	Net Interest Income				$      836,309						$      770,305
	(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)
			Nine months ended September 30,
			2026		2025
Loans, by type:
	Real estate - commercial mortgage		$            10,573,385		$              9,676,574
	Commercial and industrial		4,571,800		4,543,967
	Real estate - residential mortgage		7,064,822		6,459,649
	Real estate - home equity		1,286,802		1,177,209
	Real estate - construction		935,413		1,197,159
	Consumer		587,447		601,877
	Leases and other loans(1)		347,589		319,258
	Total Net Loans		$            25,367,258		$            23,975,693
Deposits, by type:
	Noninterest-bearing demand		$              5,173,875		$              5,317,851
	Interest-bearing demand		8,126,056		7,810,681
	Savings		9,176,718		8,195,790
	Total demand and savings		22,476,649		21,324,322
	Brokered		852,146		761,952
	Time		4,425,284		4,112,258
	Total Deposits		$            27,754,079		$            26,198,532
Borrowings, by type:
	Federal funds purchased		$                            —		$                         366
	Federal Home Loan Bank advances		312,758		634,370
	Senior debt and subordinated debt		449,361		367,438
	Other borrowings and other interest-bearing liabilities		795,378		689,177
	Total Borrowings		$              1,557,497		$              1,691,351
(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										Nine months ended
		Sep 30		Jun 30		Mar 31		Dec 31		Sep 30		Sep 30		Sep 30
		2026		2026		2026		2025		2025		2026		2025
Allowance for credit losses related to net loans:
Balance at beginning of period		$ 382,580		$ 367,489		$ 364,462		$ 376,258		$ 377,337		$ 364,462		$ 379,156
	Initial allowance for credit losses on purchased loans	—		30,993		3,351		—		—		34,344		—
	Loans charged off:
	Real estate - commercial mortgage	(5,839)		(10,789)		(4,102)		(14,104)		(3,906)		(20,730)		(22,414)
	Commercial and industrial	(2,107)		(12,015)		(10,545)		(5,295)		(5,847)		(24,667)		(15,492)
	Real estate - residential mortgage	(2,347)		(121)		(391)		(58)		(394)		(2,859)		(995)
	Consumer and home equity	(1,936)		(2,119)		(2,164)		(2,212)		(2,527)		(6,219)		(6,605)
	Real estate - construction	—		—		—		—		(5,286)		—		(5,387)
	Leases and other loans(1)	(1,100)		(966)		(1,116)		(1,140)		(1,479)		(3,180)		(4,495)
	Total loans charged off	(13,329)		(26,010)		(18,318)		(22,809)		(19,439)		(57,655)		(55,388)
Recoveries of loans previously charged off:
	Real estate - commercial mortgage	309		1,629		701		633		4,307		2,639		4,814
	Commercial and industrial	2,566		1,280		740		6,592		3,205		4,586		11,785
	Real estate - residential mortgage	170		197		72		230		33		439		410
	Consumer and home equity	495		484		584		861		726		1,561		2,285
	Real estate - construction	—		—		884		—		47		884		228
	Leases and other loans(1)	332		404		429		146		192		1,165		633
	Total recoveries of loans previously charged off	3,872		3,994		3,410		8,462		8,510		11,274		20,155
Net loans charged off		(9,457)		(22,016)		(14,908)		(14,347)		(10,929)		(46,381)		(35,233)
Provision for credit losses(2)		2,761		6,308		14,584		2,551		9,850		23,653		32,335
	Other	(249)		(194)		—		—		—		(443)		—
Balance at end of period		$ 375,635		$ 382,580		$ 367,489		$ 364,462		$ 376,258		$ 375,635		$ 376,258
Net charge-offs to average loans(3)		0.14 %		0.34 %		0.25 %		0.24 %		0.18 %		0.24 %		0.20 %
Provision for credit losses related to OBS Credit Exposures
	Provision for credit losses(2)	$    1,298		$ (1,411)		$   (142)		$      397		$      395		$   (256)		$      414
NON-PERFORMING ASSETS:
	Non-accrual loans	$ 136,053		$ 146,457		$ 142,035		$ 153,872		$ 150,137
	Loans 90 days past due and accruing	37,710		34,815		33,816		29,924		48,597
	Total non-performing loans	173,763		181,272		175,851		183,796		198,734
	Other real estate owned	5,645		5,791		1,648		1,365		2,305
	Total non-performing assets	$ 179,408		$ 187,063		$ 177,499		$ 185,161		$ 201,039
NON-PERFORMING LOANS, BY TYPE:
	Commercial and industrial	$  38,162		$  39,466		$  47,759		$  47,756		$  48,817
	Real estate - commercial mortgage	62,779		66,445		64,890		74,981		87,789
	Real estate - residential mortgage	54,771		56,821		47,826		45,569		44,689
	Consumer and home equity	14,427		12,387		12,339		11,875		12,658
	Real estate - construction	3,613		6,135		3,000		2,267		3,461
	Leases and other loans(1)	11		18		37		1,348		1,320
	Total non-performing loans	$ 173,763		$ 181,272		$ 175,851		$ 183,796		$ 198,734
(1) Includes equipment lease financing, overdrafts and net origination fees and costs.
(2) The sum of these amounts are reflected in the provision for credit losses in the Condensed Consolidated Statements of Income.
(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
						Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
						2026		2026		2026		2025		2025
Operating net income available to common shareholders
Net income available to common shareholders						$      114,095		$       99,852		$       92,199		$       96,408		$       97,892
Less: Other (1)						—		—		—		(4,989)		(738)
Plus: Core deposit intangible amortization						5,467		5,816		5,255		5,255		5,255
Plus: Acquisition-related expense						1,740		13,839		2,644		802		—
Plus: FDIC special assessment						—		—		—		(95)		—
Plus: FultonFirst implementation and asset disposals						15		(189)		1,556		2,795		(207)
Plus: Debt extinguishment costs						—		787		—		—		—
Less: Tax impact of adjustments						(1,517)		(4,253)		(1,985)		(791)		(905)
Operating net income available to common shareholders (numerator)						$      119,800		$     115,852		$       99,669		$       99,385		$     101,297
Weighted average shares (diluted) (denominator)						192,234		192,997		181,655		182,197		183,349
Operating net income available to common shareholders, per share (diluted)						$           0.62		$          0.60		$          0.55		$          0.55		$          0.55
Common shareholders' equity (tangible), per share
Shareholders' equity						$   3,686,752		$  3,815,813		$  3,505,283		$  3,490,447		$  3,413,598
Less: Preferred stock						(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Goodwill and intangible assets						(627,923)		(633,485)		(607,647)		(612,996)		(618,361)
Tangible common shareholders' equity (numerator)						$   2,865,951		$  2,989,450		$  2,704,758		$  2,684,573		$  2,602,359
Shares outstanding, end of period (denominator)						189,285		191,461		178,843		179,895		180,865
Common shareholders' equity (tangible), per share						$          15.14		$         15.61		$         15.12		$         14.92		$         14.39
(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 Republic Transaction.
						Three months ended
						Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
						2026		2026		2026		2025		2025
Operating return on average assets
Net income						$      116,657		$     102,414		$       94,761		$       98,970		$     100,454
Less: Other (1)						—		—		—		(4,989)		(738)
Plus: Core deposit intangible amortization						5,467		5,816		5,255		5,255		5,255
Plus: Acquisition-related expense						1,740		13,839		2,644		802		—
Plus: FDIC special assessment						—		—		—		(95)		—
Plus: FultonFirst implementation and asset disposals						15		(189)		1,556		2,795		(207)
Plus: Debt extinguishment costs						—		787		—		—		—
Less: Tax impact of adjustments						(1,517)		(4,253)		(1,985)		(791)		(905)
Operating net income (numerator)						$      122,362		$     118,414		$     102,231		$     101,947		$     103,859
Total average assets						$  34,836,627		$ 34,193,608		$ 31,999,228		$ 32,013,163		$ 31,924,038
Less: Average net core deposit intangible						(61,185)		(66,665)		(54,629)		(60,726)		(65,999)
Total operating average assets     (denominator)						$  34,775,442		$ 34,126,943		$ 31,944,599		$ 31,952,437		$ 31,858,039
Operating return on average assets(2)						1.40 %		1.39 %		1.30 %		1.27 %		1.29 %
Operating return on average common shareholders' equity (tangible)
Net income available to common shareholders						$      114,095		$       99,852		$       92,199		$       96,408		$       97,892
Less: Other (1)						—		—		—		(4,989)		(738)
Plus: Intangible amortization						5,561		5,910		5,349		5,365		5,368
Plus: Acquisition-related expense						1,740		13,839		2,644		802		—
Plus: FDIC special assessment						—		—		—		(95)		—
Plus: FultonFirst implementation and asset disposals						15		(189)		1,556		2,795		(207)
Plus: Debt extinguishment costs						—		787		—		—		—
Less: Tax impact of adjustments						(1,536)		(4,273)		(2,005)		(814)		(929)
Adjusted net income available to common shareholders (numerator)						$      119,875		$     115,926		$       99,743		$       99,472		$     101,386
Average shareholders' equity						$   3,807,728		$  3,788,421		$  3,543,911		$  3,464,539		$  3,361,368
Less: Average preferred stock						(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Average goodwill and intangible assets						(630,639)		(635,278)		(610,262)		(615,600)		(620,986)
Average tangible common shareholders' equity (denominator)						$   2,984,211		$  2,960,265		$  2,740,771		$  2,656,061		$  2,547,504
Operating return on average common shareholders' equity (tangible)(2)						15.94 %		15.71 %		14.76 %		14.86 %		15.79 %
Tangible common equity to tangible assets (TCE Ratio)
Shareholders' equity						$   3,686,752		$  3,815,813		$  3,505,283		$  3,490,447		$  3,413,598
Less: Preferred stock						(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Goodwill and intangible assets						(627,923)		(633,485)		(607,647)		(612,996)		(618,361)
Tangible common shareholders' equity (numerator)						$   2,865,951		$  2,989,450		$  2,704,758		$  2,684,573		$  2,602,359
Total assets						$  34,775,370		$ 34,556,720		$ 32,237,438		$ 32,118,400		$ 31,995,086
Less: Goodwill and intangible assets						(627,923)		(633,485)		(607,647)		(612,996)		(618,361)
Total tangible assets (denominator)						$  34,147,447		$ 33,923,235		$ 31,629,791		$ 31,505,404		$ 31,376,725
Tangible common equity to tangible assets						8.39 %		8.81 %		8.55 %		8.52 %		8.29 %
(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 Republic Transaction.
(2) Results are annualized.
						Three months ended
						Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
						2026		2026		2026		2025		2025
Efficiency ratio
Non-interest expense						$      218,517		$     230,954		$     200,294		$     212,986		$     196,574
Less: Acquisition-related expense						(1,740)		(13,839)		(2,644)		(802)		—
Less: FDIC special assessment						—		—		—		95		—
Less: FultonFirst implementation and asset disposals						(15)		189		(1,556)		(2,795)		207
Less: Intangible amortization						(5,561)		(5,910)		(5,349)		(5,365)		(5,368)
Less: Debt extinguishment costs						—		(787)		—		—		—
Operating non-interest expense (numerator)						$      211,201		$     210,607		$     190,745		$     204,119		$     191,413
Net interest income						$      290,035		$     284,252		$     262,023		$     266,042		$     264,198
Tax equivalent adjustment						4,307		4,310		4,303		4,416		4,436
Plus: Total non-interest income						77,225		79,306		69,841		69,980		70,407
Less: Other revenue						—		—		—		11		(138)
Plus: Investment securities (gains) losses, net						—		—		—		—		—
Total revenue (denominator)						$      371,567		$     367,868		$     336,167		$     340,449		$     338,903
Efficiency ratio						56.8 %		57.3 %		56.7 %		60.0 %		56.5 %
Operating non-interest expense to total average assets
Non-interest expense						$      218,517		$     230,954		$     200,294		$     212,986		$     196,574
Less: Intangible amortization						(5,561)		(5,910)		(5,349)		(5,365)		(5,368)
Less: Acquisition-related expense						(1,740)		(13,839)		(2,644)		(802)		—
Less: FDIC special assessment						—		—		—		95		—
Less: FultonFirst implementation and asset disposals						(15)		189		(1,556)		(2,795)		207
Less: Debt extinguishment costs						—		(787)		—		—		—
Operating non-interest expense (numerator)						$      211,201		$     210,607		$     190,745		$     204,119		$     191,413
Total average assets (denominator)						$  34,836,627		$ 34,193,608		$ 31,999,228		$ 32,013,163		$ 31,924,038
Operating non-interest expenses to total average assets(1)						2.41 %		2.47 %		2.42 %		2.53 %		2.38 %
(1) Results are annualized.
						Nine months ended
						Sep 30		Sep 30
						2026		2025
Operating net income available to common shareholders
Net income available to common shareholders						$      306,147		$     284,953
Less: Other (1)						—		(869)
Plus: Core deposit intangible amortization						16,537		16,756
Plus: Acquisition-related expense						18,223		380
Plus: FultonFirst implementation and asset disposals						1,382		(524)
Plus: Debt extinguishment costs						787		—
Less: Tax impact of adjustments						(7,755)		(3,306)
Operating net income available to common shareholders (numerator)						$      335,321		$     297,390
Weighted average shares (diluted) (denominator)						188,977		183,718
Operating net income available to common shareholders, per share (diluted)						$           1.77		$          1.62
(1) Includes a loan recovery adjustment of $0.6 million for the nine months ended September 30, 2025, reflected in the provision for credit losses related to a loan acquired in the Republic Transaction.

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

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SOURCE Fulton Financial Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Fulton Financial's third-quarter 2026 earnings?

Fulton reported $114.1 million in net income available to common shareholders, or $0.59 per diluted share. Those figures increased $14.2 million and $0.07, respectively, from the second quarter of 2026.

How did Fulton Financial's credit quality change in the third quarter of 2026?

Non-performing assets declined to $179.4 million from $187.1 million at June 30, while annualized net charge-offs fell to 0.14% of average loans from 0.34% in the prior quarter. Non-performing assets represented 0.52% of total assets at September 30, compared with 0.54% at June 30.

What are the limits and expiration date of Fulton Financial's 2026 repurchase program?

The program authorizes repurchases of up to $150 million, excluding fees, commissions, excise tax and other ancillary expenses, and expires January 31, 2027. Up to $25 million of that authorization may be used to repurchase preferred stock and outstanding subordinated notes.

What was Fulton Financial's common equity Tier 1 capital ratio at September 30, 2026?

Fulton's common equity Tier 1 capital ratio was a preliminary estimate of 12.2% at September 30, 2026. The June 30, 2026 actual ratio was also 12.2%.