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) has announced Richard Kraemer as its new Senior Executive Vice President and Chief Financial Officer Designee. Kraemer will join Fulton on September 3, 2024, and take over as CFO in the fourth quarter, replacing Interim CFO Betsy Chivinski, who will retire at year-end.
Kraemer brings over 20 years of financial services experience, most recently serving as Chief Banking Officer overseeing commercial markets at another bank. He will oversee accounting, treasury, corporate development, tax, financial planning and forecasting, and investor relations at Fulton. CEO Curt Myers expressed confidence in Kraemer's ability to lead as CFO, citing his proven track record in commercial business, corporate finance, and developing strategies to improve profitability.
Fulton Financial (NASDAQ: FULT) reported Q2 2024 net income of $92.4 million, or $0.52 per diluted share, a $33.0 million increase from Q1. The quarter was significantly impacted by the acquisition of Republic Bank, contributing to a $47.4 million gain (net of tax). Key financial highlights include:
- Net interest income increased by $34.8 million to $241.7 million
- Non-interest income rose to $113.3 million, up from $57.1 million in Q1
- Net loans grew to $24.1 billion, a $2.7 billion increase
- Deposits increased by $3.8 billion to $25.6 billion
- Provision for credit losses was $32.1 million, up from $10.9 million in Q1
The company also completed a $273.0 million common stock offering and a sale-leaseback transaction resulting in a $20.3 million pre-tax gain.
Fulton Financial (Nasdaq: FULT) will release its second quarter 2024 earnings on July 16, 2024, at 4:30 p.m. ET.
A conference call with analysts is scheduled for July 17, 2024, at 10 a.m. ET, hosted by Chairman and CEO Curtis J. Myers and Interim CFO Betsy Chivinski.
Fulton operates over 200 branches across six states and employs around 3,500 people.
More information and access to the webcast can be found on their investor website.
Fulton Financial (Nasdaq: FULT) announced on June 18, 2024, that its Board of Directors has declared a quarterly cash dividend of seventeen cents per share on its common stock. This dividend will be payable on July 15, 2024, to shareholders of record as of July 1, 2024.
Additionally, the Board declared 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. This dividend will also be payable on July 15, 2024, to shareholders of record as of June 30, 2024, for the period from April 15, 2024, to July 15, 2024.
Fulton Financial, based in Lancaster, Pennsylvania, is a financial holding company with assets exceeding $30 billion. It employs over 3,500 people and operates more than 200 financial centers across six states through Fulton Bank.
Fulton Bank, a subsidiary of Fulton Financial (NASDAQ: FULT), has released its 2023 Corporate Social Responsibility Report. The report highlights the bank's commitment to customers, employees, communities, and the environment. Significant metrics include $270 million in community development investments, $187 million in mortgage loans to low- to moderate-income buyers, $120 million in Small Business Administration loan originations, and $9.99 million in charitable donations from 2022-2023. Additionally, Fulton Bank employees contributed 12,800 volunteer hours in 2023. The report also introduces the bank's first Stakeholder Perspectives Assessment and new statements on human rights, supplier conduct, and environmental sustainability.
Fulton Bank, a subsidiary of Fulton Financial (NASDAQ: FULT), has partnered with Rider University to offer a banking program for students, faculty, staff, and alumni. The agreement includes various account options, workplace banking services, branded ATM/debit cards, and sponsorship of Rider Athletics. Fulton aims to enhance the banking experience for the university community.
Fulton Financial (NASDAQ: FULT) announced the closing of a $287.5 million public offering of common stock. The offering included 19,166,667 shares at $15 per share, with net proceeds of approximately $273.5 million. The funds will be used for general corporate purposes and to support new opportunities following an acquisition.
Fulton Financial announced the pricing of a $250 million offering of 16,666,667 shares of common stock at $15 per share, with a 30-day option for underwriters to purchase additional shares. The net proceeds are expected to be around $238 million. The offering will fund general corporate purposes, including business strategy opportunities post-acquisition of Republic First Bank assets. The expected closing date is around May 1, 2024.
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