Fulton Financial (FULT) investor relations material

Executive summary

• Achieved record operating net income of $101.3 million ($0.55 per diluted share) in Q3 2025, reflecting strong profitability and disciplined growth.

• Net income available to common shareholders was $97.9 million ($0.53 per diluted share), up year-over-year and sequentially.

• Focused on benefits realization from strategic initiatives, maintaining a solid balance sheet, and ongoing organizational efficiency.

• The Republic First Bank acquisition added $4.8 billion in assets and $5.6 billion in liabilities, with a $37 million net gain on acquisition.

• Operates a diversified business model with robust commercial, retail, and wealth management services, and a scalable technology platform.

Financial highlights

• Net interest income rose to $264.2 million, up $9.3 million sequentially, with net interest margin increasing to 3.57%.

• Non-interest income was $70.4 million in Q3, representing 21% of total revenue, with wealth management and commercial banking each contributing about one-third.

• Non-interest expense on an operating basis was $191.4 million, up $3.8 million due to higher salaries, benefits, and project spend.

• Provision for credit losses was $10.2 million in Q3, with allowance for credit losses at $376.3 million (1.57% of net loans).

• Efficiency ratio improved to 56.5%, with operating ROA at 1.29% and operating ROTCE at 15.79%.

Outlook and guidance

• 2025 operating guidance: net interest income expected at $1.025–$1.035 billion, provision for credit losses at $45–$55 million, non-interest income at $270–$280 million, and operating non-interest expense at $750–$760 million.

• Guidance reflects expectations for low single-digit loan and interest-earning asset growth, and incorporates anticipated federal funds rate cuts.

• Effective tax rate expected to be 19–20%.