FULT Fulton Financial Corporation

NASDAQ
$23.76

Fulton Financial Corporation Announces Third Quarter 2026 Results

Wednesday, October 21, 2026 · 4:30 PM ET PR Newswire

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. 

2026 Q3

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

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