Fulton Financial (FULT) investor relations material

Executive summary

• Achieved record operating earnings per share of $2.16 for 2025, with operating net income of $396.8 million, reflecting strong operating results and disciplined expense management.

• Q4 2025 operating net income was $99.4 million ($0.55 per diluted share), with full-year net income up $102.9 million year-over-year.

• Customer deposits grew by $449 million, with a 25% increase in consumer demand deposit account openings year-over-year.

• Announced acquisition of Blue Foundry Bancorp to strengthen market presence and community banking model.

• Maintained a robust balance sheet and liquidity position, focusing on strategic initiatives and organizational efficiency.

Financial highlights

• Net interest margin increased to 3.59% in Q4 2025, with net interest income for Q4 at $266.0 million, up $1.8 million sequentially.

• Non-interest income, excluding one-time items, was $70.0 million in Q4 and rose nearly 7% to $277 million for the year, representing over 20% of total revenue.

• Operating expenses grew 1.9% in 2025; normalized, they would have declined 2.7% year-over-year.

• Provision for credit losses was $2.9 million in Q4, with allowance for credit losses at 1.51% of net loans.

• Operating return on assets improved by 17 basis points to 1.28% for the year; Q4 operating ROAA was 1.27%.

Outlook and guidance

• 2026 guidance: Net interest income of $1,120M–$1,140M; non-interest income of $285M–$300M; operating expense of $800M–$835M; loan loss provision of $55M–$75M; effective tax rate of 18.5%–19.5%.

• Loan growth expected to return to mid-single digits as strategic headwinds moderate and new hires drive productivity.

• Guidance assumes one 25bp Fed cut in March and Blue Foundry Bancorp acquisition closing early Q2 2026, with system conversion in Q3 2026.

• Board approved a new $150 million share repurchase authorization through January 2027.