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.
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Fulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), has launched a Diverse Business Banking program aimed at supporting minority, women, veteran, and LGBTQ business owners. This initiative includes specialized banking services and resources tailored to these communities, reflecting the bank's commitment to inclusivity.
The program features Diverse Business Advocates, certified bankers who provide mentorship and custom solutions. Key offerings include flexible loan approval criteria, business product bundles, SBA products, and various financial services.
Fulton Bank emphasizes its role as a trusted advisor, aiming to strengthen ties with community organizations to enhance support for diverse businesses.
Fulton Financial Corporation (NASDAQ:FULT) reported a net income of $65.8 million, or $0.39 per diluted share, for Q1 2023. This reflects a decrease of $13.5 million, or 17.1%, compared to Q4 2022. Net interest income was $215.6 million, down $10.3 million from the previous quarter, influenced by a mix shift from low-cost deposits to higher-cost borrowings. Year-over-year, net interest income increased by 33.6%, attributed to rising interest rates and loan growth, including contributions from the Prudential Bancorp acquisition. Non-interest income fell by 4.8% from Q4 2022, mainly due to reduced commercial banking income and lower mortgage banking revenues. Non-interest expense decreased by 4.2% quarter-over-quarter, but rose by 9.6% year-over-year. The provision for credit losses was $24.5 million, up from $14.5 million in the prior quarter, mainly due to loan growth and macroeconomic changes.
Fulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), announced two $3,000 scholarships for local women pursuing degrees in science, technology, engineering, or mathematics (STEM). Funded by the bank's Women in Technology employee resource group, these scholarships aim to alleviate educational expenses for two high school seniors from Pennsylvania, New Jersey, Maryland, Delaware, or Virginia, who have demonstrated academic excellence. Applications must be submitted by May 5, 2023, with winners notified by May 19, 2023. This initiative aligns with the bank's mission to support community development and empower women in technical fields.
Fulton Financial Corporation (NASDAQ: FULT) will release its Q1 2023 earnings on April 18 at 4:30 p.m. ET. The quarterly conference call will take place on April 19 at 10:00 a.m. ET, hosted by Curtis J. Myers, CEO, and Mark R. McCollom, CFO. With a market capitalization of $26 billion, the company operates over 200 branches across Pennsylvania, Maryland, Delaware, New Jersey, and Virginia. Investors can access the call through a webcast.
Fulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), has appointed Steven H. Santini as the new Regional Wealth Director for its Private Bank, focusing on eastern Pennsylvania and New Jersey, particularly the greater Philadelphia area. This strategic hire aims to enhance Fulton Bank's wealth management team and expand its services tailored for high-net-worth clients.
With extensive leadership experience, Santini's role is pivotal in driving new business development and nurturing talent within the bank. Fulton Bank has also recently expanded its financial center network and aims to leverage these changes to solidify its market position.
Fulton Financial Corporation (Nasdaq: FULT) announced a quarterly cash dividend of 15 cents per share on common stock, payable on April 14, 2023, with a record date of April 3, 2023. Additionally, the Board declared a quarterly dividend of $12.81 per share for its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on April 17, 2023, to shareholders of record as of April 2, 2023. Fulton, a $26 billion financial holding company based in Lancaster, Pennsylvania, operates over 200 financial centers across multiple states.
Fulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), has announced a strategic investment of $1 million in Innovate Capital Growth Fund, L.P. This fund is dedicated to supporting the growth of minority- and women-owned businesses in the Mid-Atlantic region. The investment aligns with Fulton Bank's Commercial Affinity Banking initiative aimed at enhancing access to financial services for diverse enterprises. Innovate Capital Growth Fund targets firms with revenues between $2 million and $10 million across various industries, providing crucial equity capital to stimulate economic growth.