Fulton Financial Completes Republic First Bancorp Acquisition

Ticker: FULTP · Form: 8-K · Filed: Apr 29, 2024 · CIK: 700564

Fulton Financial Corp 8-K Filing Summary
FieldDetail
CompanyFulton Financial Corp (FULTP)
Form Type8-K
Filed DateApr 29, 2024
Risk Levelmedium
Pages4
Reading Time5 min
Key Dollar Amounts$2.50
Sentimentneutral

Sentiment: neutral

Topics: acquisition, completion, expansion

Related Tickers: FULT, FRBK

TL;DR

FULT just bought Republic First Bancorp, expanding its Philly footprint.

AI Summary

Fulton Financial Corporation (FULT) announced the completion of its acquisition of Republic First Bancorp, Inc. on April 26, 2024. This strategic move is expected to enhance Fulton's presence in the Philadelphia region and expand its customer base.

Why It Matters

This acquisition allows Fulton Financial to significantly expand its market share and customer base in the attractive Philadelphia metropolitan area, potentially leading to increased revenue and profitability.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent integration risks, potential for unforeseen liabilities, and the possibility of not achieving projected synergies.

Key Players & Entities

  • Fulton Financial Corporation (company) — Registrant
  • Republic First Bancorp, Inc. (company) — Acquired Company
  • April 26, 2024 (date) — Completion Date of Acquisition
  • Philadelphia (location) — Target Market Expansion

FAQ

What was the effective date of the acquisition's completion?

The acquisition of Republic First Bancorp, Inc. was completed on April 26, 2024.

Which company acquired Republic First Bancorp, Inc.?

Fulton Financial Corporation acquired Republic First Bancorp, Inc.

What is Fulton Financial Corporation's state of incorporation?

Fulton Financial Corporation is incorporated in Pennsylvania.

What is the primary business of Fulton Financial Corporation?

Fulton Financial Corporation is in the National Commercial Banks industry (SIC code 6021).

What is the filing date of this 8-K report?

This 8-K report was filed on April 29, 2024.

Filing Stats: 1,290 words · 5 min read · ~4 pages · Grade level 12 · Accepted 2024-04-29 09:17:09

Key Financial Figures

  • $2.50 — ich registered Common stock, par value $2.50 FULT The Nasdaq Stock Market, LLC

Filing Documents

01

Item 2.01 Completion of Acquisition or Disposition of Assets . The information set forth under Item 1.01 "Entry into a Material Definitive Agreement" is incorporated by reference into this Item 2.01.

01

Item 7.01. Regulation FD Disclosure . On April 26, 2024, the Company issued a press release announcing the Acquisition. A copy of the press release has been attached as Exhibit 99.1 to this Current Report and incorporated by reference herein. On April 29, 2024, the Company made available an investor presentation regarding the Acquisition. A copy of the investor presentation has been attached as Exhibit 99.2 to this Current Report and incorporated by referenced herein. The information contained under this Item 7.01, including Exhibits 99.1 and 99.2, is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 ("Exchange Act") or otherwise subject to the liabilities under that Section. The information contained in this Item 7.01, including in Exhibits 99.1 and 99.2, shall not be deemed to be incorporated by reference into any registration statement or any other filing of the Company under the Securities Act of 1933 or the Exchange Act. Cautionary Statements Regarding Forward-Looking Information This Current Report, including Exhibits 99.1 and 99.2, contains forward-looking statements with respect to the financial condition, results of operations and business of the Company. 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 Company'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 Company's business or financial results. In particular, the investor

Financial Statements and Exhibits

Financial Statements and Exhibits . (d) Exhibits. Exhibit No. Description 99.1 Press Release announcing the Acquisition, dated April 26, 2024. 99.2 Investor presentation, dated April 29, 2024 104 Cover page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 29, 2024 FULTON FINANCIAL CORPORATION By: /s/ Beth Ann L. Chivinski Beth Ann L. Chivinski Senior Executive Vice President and Interim Chief Financial Officer

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