Fulton Financial Corporation reports developments for a regional financial holding company that provides consumer and commercial banking, deposit and loan products, and wealth management services through bank subsidiaries in Pennsylvania, New Jersey, Maryland, Delaware and Virginia.
Recurring updates cover quarterly operating results, earnings webcasts, common and Series A preferred dividends, capital-structure disclosures, governance changes and bank acquisition integration. News also reflects the completed acquisition of Blue Foundry Bancorp, which expanded Fulton's New Jersey presence and added Blue Foundry Bank as a subsidiary alongside Fulton Bank, N.A.
Fulton Financial Corporation (NASDAQ:FULT) reported a net income of $79.3 million for Q4 2022, a 16% increase from Q3 2022. The annual net income reached $276.7 million, up 4.3% from 2021, driven by the acquisition of Prudential Bancorp on July 1, 2022. Net interest income for Q4 2022 was $225.9 million, a 36.4% increase year-over-year, influenced by rising interest rates. However, non-interest income fell by 8.3% quarter-over-quarter to $54.3 million, primarily due to declines in mortgage banking and commercial customer fees. Total non-interest expenses rose by 2.5% compared to Q3 2022, partially due to increased salaries and other operational costs.
Fulton Financial Corporation (NASDAQ: FULT) will release its fourth quarter 2022 earnings on January 17 at 4:30 p.m. ET. A conference call for analysts will be hosted by Chairman and CEO Curtis J. Myers on January 18 at 10:00 a.m. ET. The company, based in Lancaster, PA, has approximately 3,300 employees and operates over 200 branches across Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.
Fulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), has appointed Dara C. Bachman as the new President of Fulton Private Bank. In this role, she will lead a team to provide customized wealth management for high-net-worth clients. Bachman has a strong background, including her previous role as Director of Family Wealth and a legal career focused on estate planning. CEO David Hanson expressed confidence in her leadership to enhance client services. Fulton Bank operates across multiple Mid-Atlantic states and holds $26 billion in assets.
Fulton Financial Corporation (NASDAQ: FULT) announced a quarterly cash dividend of 15 cents per share, payable on January 13, 2023. This follows a dividend of $12.81 per share on its preferred stock, due on January 17, 2023. Additionally, Fulton approved a $100 million share repurchase program commencing January 1, 2023, set to expire on December 31, 2023. The program aims to enhance shareholder value as it is subject to market conditions.
Fulton Financial Corporation (NASDAQ: FULT) announced the merger of Prudential Bank with Fulton Bank, effective November 5, 2022. Former Prudential Bank customers can now access a full suite of Fulton Bank’s products and services. This merger enhances Fulton Bank's presence in the Philadelphia area, allowing them to serve a broader customer base.
Additionally, Fulton previously contributed $2 million to the Fulton Forward Foundation aimed at supporting economic empowerment in underserved communities. The merger is expected to strengthen the bank's community relationships.
Fulton Financial Corporation (NASDAQ:FULT) reported a third quarter net income of $68.3 million, or $0.40 per diluted share, marking a 1.3% increase from the previous quarter. For the nine months ending September 30, 2022, net income was $197.5 million, a 4.1% decrease compared to the same period in 2021. The strong quarterly performance was attributed to rising interest rates boosting net interest income to $215.6 million, a 25.9% increase year-over-year, aided by the July acquisition of Prudential Bancorp.
Fulton Financial Corporation (FULT) will release its third quarter 2022 earnings on October 18 at 4:30 p.m. Eastern Time. A conference call for analysts will follow on October 19 at 10:00 a.m. Eastern Time, hosted by Chairman and CEO E. Philip Wenger, alongside President Curtis J. Myers and CFO Mark R. McCollom. Fulton Financial, a financial holding company based in Lancaster, PA, has $26 billion in assets and operates over 200 branches across several states including Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.
The Board of Directors of Fulton Financial Corporation (NASDAQ: FULT) has declared a quarterly cash dividend of $0.15 per share on its common stock, payable on October 17, 2022, to shareholders of record as of October 3, 2022. Additionally, a dividend of $12.81 per share on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, will also be payable on October 17, 2022, to holders of record as of October 2, 2022.
Fulton, a $25 billion financial holding company based in Lancaster, PA, operates over 200 branches across Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.
Fulton Financial Corporation (NASDAQ:FULT) reported a net income of $67.4 million, or $0.42 per diluted share, for Q2 2022, marking a 9.2% increase from the previous quarter. However, net income for the first half of 2022 totaled $129.2 million, down 2.8% year-over-year. Key drivers included a rise in net interest income to $178.8 million, attributed to increased interest rates and loan originations. The acquisition of Prudential Bancorp was highlighted as a significant milestone. Non-interest expenses rose by 2.1%, influenced by higher salaries and merger-related costs.
Fulton Financial Corporation (NASDAQ: FULT) will announce its Q2 2022 earnings on July 19 at 4:30 PM ET. A conference call for analysts is scheduled for July 20 at 10:00 AM ET, hosted by E. Philip Wenger, CEO, alongside other executives. The call can be accessed via webcast at investor.fultonbank.com. Fulton, based in Lancaster, PA, has approximately $26 billion in assets and operates over 200 branches across Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.