Fulton Financial (FULT) investor relations material

Executive summary

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

• Total revenue reached an all-time high, driven by growth in net interest and fee income, with a diversified business model across commercial, retail, and wealth management.

• Deposit growth outpaced loan growth, supported by targeted campaigns and seasonal municipal inflows.

• Credit quality improved, with reductions in non-performing loans and charge-offs.

• Focused on organizational efficiency and maintaining a solid balance sheet.

Financial highlights

• Net interest income rose to $264.2 million, up $9.3 million sequentially; net interest margin increased 10 bps to 3.57%.

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

• Operating efficiency ratio improved to 56.5% from 57.1% in Q2.

• Return on average assets was 1.25% (GAAP) and 1.29% (operating); return on average tangible common equity was 15.79%.

• Common equity tier 1 capital ratio rose to 11.5%; tangible book value per share reached $14.39.

Outlook and guidance

• 2025 guidance: net interest income $1.025B–$1.035B; provision for credit losses $45M–$55M; non-interest income $270M–$280M; operating non-interest expense $750M–$760M; effective tax rate 19%–20%.

• Expect loan growth to return to long-term trends (4%–6%), with initial focus on reaching 4%.

• Guidance reflects anticipated Fed rate cuts and low single-digit asset growth.