Fulton Financial Corporation Announces Third Quarter 2026 Results
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:
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:
Balance Sheet Summary
Provision for Credit Losses and Asset Quality
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
SOURCE Fulton Financial Corporation