Fulton Financial Corp

NASDAQ:FULTUnited States

Oct 15, 2024

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• Fulton Financial Q3 Operating Net Income, Revenue Rise, from 5:05PM ET on Tuesday Oct 15, 2024 by MT Newswires

  5:05PM ET on Tuesday Oct 15, 2024 by MT Newswires
  Companies Mentioned: FULT
  05:05 PM EDT, 10/15/2024 (MT Newswires) -- Fulton Financial (FULT) reported Q3 operating net income late Tuesday of $0.50 a share, up from $0.43 a year earlier. Analysts surveyed by Capital IQ expected $0.44. Revenue in the three months ended Sept. ...

• Fulton Financial Corporation Announces Third Quarter 2024 Results, from 4:30PM ET on Tuesday Oct 15, 2024 by PR Newswire

  4:30PM ET on Tuesday Oct 15, 2024 by PR Newswire
  Companies Mentioned: FULT

  Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $60.6 million, or $0.33 per diluted share, for the third quarter of 2024, a decrease of $31.8million, or $0.19 per share, in comparison to the second quarter of 2024. Operating net income available to common shareholders for the three months ended September30, 2024 was $91.3 million, or $0.50 per diluted share(1), an increase of $8.8 million, or $0.03 per share, in comparison to the second quarter of 2024.

• Fulton Financial Corporation Announces Third Quarter 2024 Results, from 4:30PM ET on Tuesday Oct 15, 2024 by Dow Jones

  4:30PM ET on Tuesday Oct 15, 2024 by Dow Jones
  Companies Mentioned: FULT
  expense (numerator) $ 196,238 $ 194,940 $ 169,742 $ 170,984 $ 170,419 =============== ============== ============== ============== ============== Net interest income $ 258,009 $ 241,720 $ 206,937 $ 212,006 $ 213,842 Tax equivalent adjustment 4,424 4,556 4,592 4,549 4,442 Plus: Total non-interest income 59,673 92,994 57,140 59,378 55,961 Less: Interest rate derivative transition valuation(1) 138 (137) (151) (1,102) 2,958 Less: Non-PCD credit-related interest income from acquisition (815) (571) -- -- -- Less: Loss (gain) on acquisition, net of tax 7,706 (47,392) -- -- -- Plus: Investment securities (gains) losses, net 1 20,282 -- 752 -- --------------- -------------- -------------- -------------- -------------- Total revenue (denominator) $ 329,136 $ 311,452 $ 268,518 $ 275,583 $ 277,203 =============== ============== ============== ============== ============== Efficiency ratio 59.62 % 62.59 % 63.21 % 62.04 % 61.48 % =============== ============== ============== ============== ============== Operating non-interest expense to total average assets ------------------------- Non-interest expense $ 226,089 $ 199,488 $ 177,600 $ 180,552 $ 171,020 Less: Intangible amortization (6,287) (4,688) (573) (597) (601) Less: Acquisition-related expense (14,195) (13,803) -- -- -- Plus: Gain on sale-leaseback -- 20,266 -- -- -- Less: FDIC special assessment 16 -- (956) (6,494) -- Less: FultonFirst implementation and asset disposals (9,385) (6,323) (6,329) (3,197) -- Operating non-interest expense (numerator) $ 196,238 $ 194,940 $ 169,742 $ 170,264 $ 170,419 =============== ============== ============== ============== ============== Total average assets (denominator) $ 31,895,235 $ 30,774,891 $ 27,427,626 $ 27,397,671 $ 27,377,836 =============== ============== ============== ============== ============== Operating non-interest expenses to total average assets 2.45 % 2.55 % 2.49 % 2.47 % 2.47 % =============== ============== ============== ============== ============== (1) Resulting from the reference rate transition from LIBOR to SOFR in the Corporation's commercial customer interest rate swap program. (2) Results are annualized. Note: numbers in this report may not sum due to rounding.
  

• *DJ Fulton Fincl 3Q EPS 33c >FULT, from 4:30PM ET on Tuesday Oct 15, 2024 by Dow Jones

  4:30PM ET on Tuesday Oct 15, 2024 by Dow Jones
  Companies Mentioned: FULT
  expense (numerator) $ 196,238 $ 194,940 $ 169,742 $ 170,984 $ 170,419 =============== ============== ============== ============== ============== Net interest income $ 258,009 $ 241,720 $ 206,937 $ 212,006 $ 213,842 Tax equivalent adjustment 4,424 4,556 4,592 4,549 4,442 Plus: Total non-interest income 59,673 92,994 57,140 59,378 55,961 Less: Interest rate derivative transition valuation(1) 138 (137) (151) (1,102) 2,958 Less: Non-PCD credit-related interest income from acquisition (815) (571) -- -- -- Less: Loss (gain) on acquisition, net of tax 7,706 (47,392) -- -- -- Plus: Investment securities (gains) losses, net 1 20,282 -- 752 -- --------------- -------------- -------------- -------------- -------------- Total revenue (denominator) $ 329,136 $ 311,452 $ 268,518 $ 275,583 $ 277,203 =============== ============== ============== ============== ============== Efficiency ratio 59.62 % 62.59 % 63.21 % 62.04 % 61.48 % =============== ============== ============== ============== ============== Operating non-interest expense to total average assets ------------------------- Non-interest expense $ 226,089 $ 199,488 $ 177,600 $ 180,552 $ 171,020 Less: Intangible amortization (6,287) (4,688) (573) (597) (601) Less: Acquisition-related expense (14,195) (13,803) -- -- -- Plus: Gain on sale-leaseback -- 20,266 -- -- -- Less: FDIC special assessment 16 -- (956) (6,494) -- Less: FultonFirst implementation and asset disposals (9,385) (6,323) (6,329) (3,197) -- Operating non-interest expense (numerator) $ 196,238 $ 194,940 $ 169,742 $ 170,264 $ 170,419 =============== ============== ============== ============== ============== Total average assets (denominator) $ 31,895,235 $ 30,774,891 $ 27,427,626 $ 27,397,671 $ 27,377,836 =============== ============== ============== ============== ============== Operating non-interest expenses to total average assets 2.45 % 2.55 % 2.49 % 2.47 % 2.47 % =============== ============== ============== ============== ============== (1) Resulting from the reference rate transition from LIBOR to SOFR in the Corporation's commercial customer interest rate swap program. (2) Results are annualized. Note: numbers in this report may not sum due to rounding.