Fulton Financial (FULT) investor relations material

Executive summary

• Achieved record operating net income available to common shareholders of $115.9 million ($0.60 per diluted share) in Q2 2026, up from $99.7 million in Q1 2026, driven by disciplined execution, strong team performance, and the Blue Foundry acquisition.

• Completed the $2.1 billion Blue Foundry Bancorp acquisition on April 1, 2026, adding $2.1 billion in assets and $1.6 billion in loans, with integration finalized July 11.

• Maintained solid asset quality and increased capital levels, positioning for continued growth and value creation.

• Focused on disciplined, profitable growth, organizational efficiency, and strong balance sheet and liquidity.

Financial highlights

• Net interest income rose $22.2 million (8% linked quarter) to $284.3 million, with $17.5 million from Blue Foundry.

• Non-interest income increased to $79.3 million, up $9.5 million from Q1, representing 22% of total revenue, driven by equity investment gains and higher mortgage banking revenue.

• Net interest margin expanded to 3.60%, up 2 bps from Q1 and 13 bps year-over-year.

• Non-interest expense increased to $231.0 million, with $11.2 million in acquisition-related costs and higher salaries/benefits.

• Provision for credit losses was $4.9 million, down from $14.4 million in Q1 2026.

Outlook and guidance

• Net interest income guidance narrowed to $1.12–$1.135 billion for 2026, reflecting low single-digit organic loan growth plus Blue Foundry.

• Loan loss provision range lowered to $40–$60 million.

• Non-interest income guidance raised to $290–$300 million, including equity investment gains.

• Non-interest expense expected at $810–$830 million, with Blue Foundry contributing ~$27 million.

• Margin expected to remain stable to slightly higher in the near term, with positive asset repricing tailwinds.