Fulton Financial (FULT) investor relations material

Executive summary

• Q3 net income available to common shareholders was $114.1 million, or $0.59 per diluted share; adjusted operating net income was $119.8 million, or $0.62 per diluted share.

• Operating returns strengthened, with adjusted operating ROAA of 1.40%, ROATCE of 15.94% and an efficiency ratio of 56.8%.

• Blue Foundry integration was completed during Q3; customer funding and deposits grew, while management targets mid-single-digit organic loan growth as a 2027 base.

Financial highlights

• Net interest income rose $5.8 million QoQ to $290.0 million; provision for credit losses was $4.1 million, down from $4.9 million in Q2.

• Non-interest income was $77.2 million, down $2.1 million QoQ, mainly reflecting $6.9 million of equity-method investment income recorded in Q2; it rose 9.7% YoY.

• GAAP non-interest expense fell $12.4 million QoQ to $218.5 million; adjusted operating expense rose $0.6 million to $211.2 million.

• Total revenue was $367.3 million; operating PPNR was $156.0 million, or 1.78% of average assets.

Outlook and guidance

• FY2026 non-FTE NII guidance is $1.125–$1.135 billion, assuming 25-bp federal funds target rate hikes in September and December 2026.

• FY2026 provision guidance is $30–$40 million; non-interest income guidance is $295–$305 million.

• FY2026 operating non-interest expense guidance is $820–$830 million, excluding non-operating expense and CDI amortization; it assumes ~$25 million of legacy Blue Foundry operating expense.

• Other FY2026 assumptions include ~$50 million of purchase-accounting accretion, ~$22 million of CDI expense, ~$25 million of non-operating expenses and an 18.5%–19.5% effective tax rate.

• Guidance incorporates low, single-digit organic loan growth and the Blue Foundry transaction; management targets mid-single-digit organic loan growth as a base for 2027.