Welcome to our dedicated page for Fulton Financial news (Ticker: FULT), a resource for investors and traders seeking the latest updates and insights on Fulton Financial stock.
Fulton Financial Corporation (NASDAQ: FULT) is a Lancaster, Pennsylvania-based financial holding company serving the Mid-Atlantic region through its subsidiary Fulton Bank, N.A. This news page aggregates coverage of FULT, with a focus on corporate announcements, earnings results, capital actions and strategic developments that affect the company’s commercial banking and financial services operations.
Readers can expect regular updates on quarterly and annual financial results, which Fulton releases via earnings press releases and accompanying investor presentations. These items typically detail net income, net interest income, non-interest income, asset quality metrics, capital ratios and other key performance indicators. The company also announces the dates and times of its earnings releases and analyst conference calls, along with webcast access information.
Fulton’s news flow frequently includes dividend declarations and share repurchase authorizations, such as quarterly cash dividends on its common stock and Series A preferred stock and board-approved repurchase programs covering common shares and certain other securities. Strategic activity is another important theme: Fulton has announced an Agreement and Plan of Merger with Blue Foundry Bancorp in an all-stock transaction and has disclosed the acquisition of substantially all of the assets and deposits of Republic First Bank by Fulton Bank from the FDIC as receiver.
Additional news items highlight leadership and governance changes, including executive appointments, retirements and new senior roles at Fulton Bank overseeing operations, technology and treasury functions. Community and employee-focused stories, such as scholarship awards funded by internal employee resource groups and community initiatives under the Fulton Forward® banner, also appear in the company’s news.
Investors, analysts and other interested readers can use this page to follow FULT’s ongoing financial performance, capital management decisions, merger activity and community banking initiatives in one consolidated feed.
Fulton Financial (NASDAQ: FULT) reported Q4 2024 net income of $66.1 million ($0.36 per diluted share), up $5.4 million from Q3 2024. Operating net income was $88.9 million ($0.48 per diluted share), down $2.4 million from Q3.
For full-year 2024, net income reached $278.5 million ($1.57 per share), with operating net income at $328.1 million ($1.85 per share), marking an 8% increase over 2023. Key Q4 metrics include a 3.41% net interest margin, decreased non-interest expense of $216.6 million, and an allowance for credit losses of 1.58% of total net loans.
Balance sheet showed $24.0 billion in net loans (down $131.2 million) and $26.1 billion in deposits (down $22.7 million) compared to Q3. Non-performing assets were 0.69% of total assets, with net charge-offs at 0.22% of average loans.
Fulton Financial (Nasdaq: FULT) has scheduled its fourth quarter 2024 earnings release for Tuesday, January 21, 2025, at approximately 4:30 p.m. Eastern Time. The company will host an analyst conference call on Wednesday, January 22, at 10 a.m. Eastern Time, led by Chairman and CEO Curtis J. Myers, accompanied by Senior Executive Vice President and CFO Rick Kraemer.
Fulton, a $30 billion financial holding company based in Lancaster, Pa., employs over 3,400 people and operates more than 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia through Fulton Bank, N.A.
Fulton Financial (FULT) has announced three key financial decisions: First, a quarterly cash dividend increase of one cent to $0.18 per common share, payable January 15, 2025, representing a nearly 6% increase. Second, a quarterly dividend of $12.81 per share on its Preferred Stock Series A. Third, approval of a new $125 million share repurchase program for 2025, including up to $25 million for preferred stock repurchases.
The program will run from January 1 to December 31, 2025, with purchases to be made through open market transactions or private negotiations. The Lancaster-based financial holding company, with over $30 billion in assets, operates more than 200 financial centers across five states through Fulton Bank.
Fulton Financial (NASDAQ: FULT) has appointed Richard Kraemer as Senior Executive Vice President and Chief Financial Officer, replacing Interim CFO Betsy Chivinski, who is retiring at year-end. Kraemer brings over 20 years of financial services experience and will oversee accounting, treasury, corporate development, tax, financial planning, investor relations, procurement, and real estate. In his previous role as Chief Banking Officer, he managed commercial markets and had P&L responsibility. He also served as Executive Vice President, Deputy CFO & Treasurer at a $60 billion assets company.
Fulton Financial (NASDAQ: FULT) reported Q3 2024 net income of $60.6 million, or $0.33 per diluted share, down $31.8 million from Q2 2024. However, operating net income increased to $91.3 million, or $0.50 per diluted share, up $8.8 million from Q2. Highlights include:
- Net interest margin increased to 3.49%
- Customer deposits grew by $745.0 million
- Common equity tier 1 capital rose to 10.5%
- Tangible shareholders' equity per share increased 4.7% to $13.02
- Net loans increased to $24.2 billion
- Total deposits grew to $26.2 billion
The quarter included $14.2 million in acquisition-related expenses and $9.4 million in FultonFirst implementation costs. Provision for credit losses decreased to $11.9 million from $32.1 million in Q2 2024.
Fulton Financial (Nasdaq: FULT) has announced the schedule for its third quarter 2024 earnings release and webcast. The earnings release and accompanying charts will be distributed on Tuesday, October 15, at approximately 4:30 p.m. Eastern Time. A conference call with analysts will be held on Wednesday, October 16, at 10 a.m. Eastern Time, hosted by Chairman and CEO Curtis J. Myers, joined by Rick Kraemer, Senior Executive Vice President and CFO Designee.
The webcast link and audio-only access information have been provided. Fulton, a $30 billion financial holding company based in Lancaster, Pa., operates more than 200 financial centers across five states through Fulton Bank, N.A., employing approximately 3,500 people.
Fulton Bank, a subsidiary of Fulton Financial , has launched Fulton Deposit Escrow Management, a new digital platform for escrow account and subaccount management. The service is provided in partnership with ZSuite Technologies and is aimed at clients in the real estate industry and municipal organizations. The platform, called ZEscrow, offers features such as bulk import capability, easy account access, and interest configuration.
Lou Lombardi, Fulton Bank Director of Middle Markets, emphasized that the platform provides customers with an easy and secure way to manage escrow accounts, offering real-time access to information. Nathan Baumeister, CEO of ZSuite Technologies, expressed excitement about the partnership, highlighting their commitment to providing advanced tools for businesses and individuals.
Fulton Financial (Nasdaq: FULT) has announced its latest dividend declarations. The Board of Directors has declared a quarterly cash dividend of $0.17 per share on its common stock, payable on October 15, 2024, to shareholders of record as of October 1, 2024. Additionally, a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, will be paid on October 15, 2024, to shareholders of record as of September 30, 2024.
Fulton is a $30 billion financial holding company based in Lancaster, Pennsylvania. It employs over 3,500 people and operates more than 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia through Fulton Bank, N.A.
Fulton Financial (NASDAQ: FULT), a $30+ billion financial services holding company, has announced several new executive appointments within Fulton Bank, N.A. The changes include:
1. Meg R. Mueller as Chief Credit Executive
2. John J. Glover as Head of Commercial Banking
3. Philip N. Smith as Director of Business Banking
4. Jeffrey R. Rush as Executive Market President
These appointments aim to bring increased focus to core business areas, align the credit team under a single leader, support a wide range of customers, and reinforce commitment to local leadership in served communities.
Fulton Bank, a subsidiary of Fulton Financial (FULT), has awarded two $3,000 Women in Technology scholarships to Kailey Kasbeer-Betty and Yanwei Liu. The scholarships, presented by Fulton's Women in Technology employee resource group, support women pursuing STEM education.
Kasbeer-Betty, from Ellicott City, Md., will study electrical engineering at the University of South Florida. Liu, from Hummelstown, Pa., will pursue computer science at Cornell University. Eligible applicants had to be female high school seniors residing within Fulton Bank's footprint and enrolling in a STEM undergraduate program.
Kelly Salvato, Chairperson of Fulton's Women in Technology group, emphasized the importance of inspiring and connecting women in technology across both IT and business sectors.