Fulton Financial (FULT) Q4 2025 earnings summary

Executive summary

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

• Operating net income for 2025 was $396.8 million ($2.16 per diluted share), up $68.7 million year-over-year; Q4 2025 operating net income was $99.4 million ($0.55 per diluted share).

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

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

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

Financial highlights

• Net interest income for Q4 2025 was $266.0 million, up $1.8 million sequentially; net interest margin expanded to 3.59%.

• Non-interest income (excluding certain gains/losses) was $277 million for 2025, up nearly 7% year-over-year; non-interest income as a percentage of total revenue was 21% in Q4.

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

• Tangible book value per share increased by 15% year-over-year to $14.92 at year-end 2025.

• Provision for credit losses was $2.9 million in Q4 2025, with allowance for credit losses at 1.51% of net loans.

Outlook and guidance

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

• Expect loan growth to return to historical mid-single-digit rates in 2026 as strategic headwinds moderate.

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