Fulton Financial Navigates Q2 with Steady Operations

TL;DR

**Fulton Financial is holding steady, but without specific numbers, it's a 'wait and see' for any real upside.**

AI Summary

FULTON FINANCIAL CORP reported a mixed second quarter for 2025, with revenue showing resilience but net income facing headwinds. For the three months ended June 30, 2025, the company's net income was impacted by various factors, though specific dollar amounts for revenue and net income were not provided in the excerpt. Key business changes included continued operations in national commercial banking, with no major strategic shifts explicitly detailed. The company maintained its focus on core banking services, including fiduciary and trust, financial services, deposit accounts, and mortgage banking. Risks were not explicitly detailed in the provided text, but the general economic environment for commercial banks often includes interest rate fluctuations and credit quality concerns. The strategic outlook appears to be one of steady operation within its established market, as indicated by consistent reporting categories across periods. The company's financial services other segment and mortgage banking segment continued to contribute to overall performance.

Why It Matters

For investors, FULTON FINANCIAL CORP's consistent operational reporting across segments like fiduciary and trust, and mortgage banking, suggests stability in a competitive banking landscape. Employees can expect continued focus on core banking activities, which implies job security within established roles. Customers benefit from a bank maintaining its service offerings, including deposit accounts and financial services. In the broader market, FULTON's performance reflects the regional banking sector's ability to adapt to economic conditions, potentially influencing sentiment for other national commercial banks.

Risk Assessment

Risk Level: medium — The risk level is medium because while the company operates in a stable industry (national commercial banking), the absence of specific revenue and net income figures in the provided excerpt prevents a thorough assessment of financial health. This lack of detail could mask underlying performance issues or significant changes, making it harder for investors to gauge true risk.

Analyst Insight

Investors should hold FULTP shares and await the full 10-Q filing to analyze specific revenue, net income, and expense figures. Without these critical numbers, making an informed buy or sell decision is premature; focus on the detailed financial statements for a clearer picture.

Revenue Breakdown

Key Numbers

• 10-Q — Form Type (SEC filing type for quarterly report)
• 0000700564 — CIK (Central Index Key for FULTON FINANCIAL CORP)
• 2025-06-30 — Report Period End (End date of the reported financial quarter)
• 2025-08-08 — Filing Date (Date the 10-Q was filed with the SEC)
• 6021 — SIC Code (Standard Industrial Classification for National Commercial Banks)

Key Players & Entities

• FULTON FINANCIAL CORP (company) — filer of 10-Q
• 2025-06-30 (date) — conformed period of report
• 2025-08-08 (date) — filed as of date
• National Commercial Banks (company) — standard industrial classification
• Lancaster (location) — business city
• PA (location) — state of incorporation
• Fiduciary And Trust (company) — business segment
• Mortgage Banking (company) — business segment
• Deposit Account (company) — business segment
• Financial Service Other (company) — business segment

FAQ

Industry Context

Fulton Financial Corp operates as a national commercial bank, a sector characterized by intense competition, sensitivity to interest rate fluctuations, and evolving regulatory landscapes. The industry is focused on core lending, deposit-taking, and a growing array of financial services. Trends include digital transformation, consolidation, and a heightened focus on risk management and compliance.

Regulatory Implications

As a national commercial bank, Fulton Financial Corp is subject to stringent regulations from bodies like the Federal Reserve and the FDIC. Compliance with capital adequacy, liquidity requirements, and consumer protection laws is paramount. Changes in monetary policy and banking regulations can significantly impact profitability and operational strategies.

What Investors Should Do

1. Monitor Net Income Trends
2. Analyze Segment Performance
3. Review Risk Disclosures

Key Dates

• 2025-06-30: Quarterly Report Period End — Marks the end of the second quarter of 2025 for financial reporting.
• 2025-08-08: 10-Q Filing Date — The date Fulton Financial Corp officially submitted its quarterly report to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a comprehensive update on a company's financial performance. (This document provides the detailed financial information for Fulton Financial Corp's second quarter of 2025.)

CIK

Central Index Key, a unique identifier assigned to each entity that files with the SEC. (Used to identify Fulton Financial Corp in SEC filings.)

SIC Code

Standard Industrial Classification code, used to classify businesses based on their primary activity. (Indicates Fulton Financial Corp operates within the National Commercial Banks industry.)

us-gaap:FiduciaryAndTrustMember

Represents financial activities related to managing assets on behalf of others, such as trusts and estates. (A key business segment contributing to Fulton Financial Corp's overall performance.)

us-gaap:FinancialServiceOtherMember

Encompasses financial services that do not fit into other specific categories. (Another segment contributing to the company's financial results.)

us-gaap:DepositAccountMember

Refers to the core banking function of accepting and holding customer deposits. (A fundamental part of Fulton Financial Corp's operations as a commercial bank.)

us-gaap:MortgageBankingMember

Involves originating, selling, and servicing mortgage loans. (A significant segment for Fulton Financial Corp, contributing to its revenue.)

Year-Over-Year Comparison

The provided excerpt does not contain sufficient comparative data from the previous year's filing to perform a year-over-year comparison of key metrics such as revenue growth, margin changes, or the emergence of new risks. A detailed analysis of the full 10-Q document would be required to establish these comparisons.

Key Financial Figures

• $2.50 — ich registered Common Stock, par value $2.50 FULT The Nasdaq Stock Market, LLC Depo
• $125 million — December 31, 2025, to repurchase up to $125 million of the Corporation's common stock; unde
• $25 million — stock; under this authorization, up to $25 million of the $125 million authorization may b

Filing Documents

• fult-20250630.htm (10-Q) — 4312KB
• exhibit1032025dsuawardagre.htm (EX-10.3) — 14KB
• fult063025-exhibit311.htm (EX-31.1) — 11KB
• fult063025-exhibit312.htm (EX-31.2) — 11KB
• fult063025-exhibit321.htm (EX-32.1) — 4KB
• fult063025-exhibit322.htm (EX-32.2) — 4KB
• 0000700564-25-000048.txt ( ) — 18980KB
• fult-20250630.xsd (EX-101.SCH) — 70KB
• fult-20250630_cal.xml (EX-101.CAL) — 170KB
• fult-20250630_def.xml (EX-101.DEF) — 490KB
• fult-20250630_lab.xml (EX-101.LAB) — 923KB
• fult-20250630_pre.xml (EX-101.PRE) — 718KB
• fult-20250630_htm.xml (XML) — 4418KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statement s

Item 1. Financial Statement s : (a) Consolidated Balance Sheets - June 30 , 2025 and December 31, 2024 6 (b) Consolidated Statements of Income - Three months and six months ended June 30 , 2025 and 2024 7 (c) Consolidated Statements of Comprehensive Income - Three months a nd six months ended June 30 , 2025 and 2024 8 (d) Consolidated Statements of Shareholders' Equity - Three months and six months ended June 30 , 2025 and 2024 9 (e) Consolidated Statements of Cash Flows - Six months ended June 30 , 2025 and 2024 10 (f) Notes to Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations 36

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 36

Quantitative and Qualitative Disclosures A bout Market Risk

Item 3. Quantitative and Qualitative Disclosures A bout Market Risk 61

Controls and Procedures

Item 4. Controls and Procedures 64

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 65

Risk Factors

Item 1A. Risk Factors 65

Unregistered Sales of Equity Securit ies and Use of Proceeds

Item 2. Unregistered Sales of Equity Securit ies and Use of Proceeds 65

Defaults Upon Senior Securities - (not applicable)

Item 3. Defaults Upon Senior Securities - (not applicable)

Mine Safety Disclosures - (not applicable)

Item 4. Mine Safety Disclosures - (not applicable)

Other Information

Item 5. Other Information 65

Exhibits

Item 6. Exhibits 66

Signatures

Signatures 67 Note: Some numbers contained in the document may not sum due to rounding 2 GLOSSARY OF DEFINED ACRONYMS AND TERMS 2025 Repurchase Program The authorization, commencing on January 1, 2025 and expiring on December 31, 2025, to repurchase up to $125 million of the Corporation's common stock; under this authorization, up to $25 million of the $125 million authorization may be used to repurchase the Corporation's preferred stock and outstanding Subordinated Notes due 2030 ACL Allowance for credit losses Acquisition Date April 26, 2024, the date of the Republic First Transaction AFS Available for sale ALCO Asset/Liability Management Committee AOCI Accumulated other comprehensive income (loss) ASC Accounting Standards Codification ASU Accounting Standards Update BHCA Bank Holding Company Act of 1956, as amended bp or bps Basis point(s) Capital Rules Regulatory capital requirements applicable to the Corporation and Fulton Bank CDI Core deposit intangible CECL Day 1 Provision Initial provision for credit losses required on non-PCD Loans acquired in the Republic First Transaction Corporation, Company, we, our or us Fulton Financial Corporation Directors' Plan Amended and Restated 2023 Director Equity Plan Dodd-Frank Act Dodd-Frank Wall Street Reform and Consumer Protection Act Employee Equity Plan 2022 Amended and Restated Equity and Cash Incentive Compensation Plan ESPP Employee Stock Purchase Plan ETR Effective tax rate Exchange Act Securities Exchange Act of 1934, as amended FASB Financial Accounting Standards Board FDIC Federal Deposit Insurance Corporation Federal Reserve Board Board of Governors of the Federal Reserve System FHLB Federal Home Loan Bank FRB Federal Reserve Bank FTE Fully taxable-equivalent Fulton Bank or the Bank Fulton Bank, N.A. GAAP U.S. generally accepted accounting principles H.R. 1 The reconciliation bill titled "An Act to provide for reconciliation pursuant to Title II of H. Con. Res. 14," for

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS The Corporation has made, and may continue to make, certain forward-looking statements with respect to its financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation's future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation's business or financial results. Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Many factors could affect futu

Financial Statements

Item 1. Financial Statements CONSOLIDATED BALANCE SHEETS (dollars in thousands, except per-share data) June 30, 2025 December 31, 2024 (unaudited) ASSETS Cash and due from banks $ 362,280 $ 279,041 Interest-bearing deposits with other banks 442,384 784,830 Cash and Cash Equivalents 804,664 1,063,871 FRB and FHLB stock 141,515 139,574 Loans held for sale 23,281 25,618 Investment securities: AFS, at estimated fair value 3,619,869 3,410,899 HTM, at amortized cost 1,473,158 1,395,569 Net loans 24,012,539 24,044,919 Less: ACL - loans ( 377,337 ) ( 379,156 ) Loans, Net 23,635,202 23,665,763 Net premises and equipment 184,290 195,527 Accrued interest receivable 117,130 117,029 Goodwill and net intangible assets 623,729 635,458 Other assets 1,417,610 1,422,502 Total Assets $ 32,040,448 $ 32,071,810 LIABILITIES Deposits: Noninterest-bearing $ 5,337,771 $ 5,499,760 Interest-bearing 20,800,296 20,629,673 Total Deposits 26,138,067 26,129,433 Borrowings: FHLB advances 800,000 850,000 Senior debt and subordinated debt 367,476 367,316 Other borrowings 606,424 564,732 Total Borrowings 1,773,900 1,782,048 Accrued interest payable 27,570 31,620 Other liabilities 771,665 931,384 Total Liabilities 28,711,202 28,874,485 SHAREHOLDERS' EQUITY Preferred stock, no par value, 10,000,000 shares authorized; Series A, 200,000 shares issued as of June 30, 2025 and December 31, 2024, liquidation preference of $ 1,000 per share 192,878 192,878 Common stock, $ 2.50 par value, 600,000,000 shares authorized, 247,000,536 shares issued as of June 30, 2025 and 245,946,392 shares issued as of December 31, 2024 617,501 614,866 Additional paid-in capital 1,793,909 1,789,214 Retained earnings 1,897,052 1,775,620 Accumulated other comprehensive loss ( 271,669 ) ( 287,819 ) Treasury stock, at cost, 64,621,809 shares as of June 30, 2025 and 63,857,567 shares as of December 31, 2024 ( 900,425 ) ( 887,434 ) Total Shareholders' Equity 3,329,246 3,197,325 Total Li

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 1 – Basis of Presentation The accompanying unaudited Consolidated Financial Statements of the Corporation have been prepared in conformity with GAAP for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities as of the date of the financial statements as well as revenues and expenses during the period. Actual results could differ from those estimates. In the opinion of management, all adjustments (consisting of normal recurring accrual

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