Fulton Financial Corp

FULT

Equity

ISIN US3602711000 / Valor 932114

NASDAQ (2024-12-24)

USD 19.86+1.79%

Fulton Financial Corp
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About company

Fulton Financial Corp, through its subsidiary Fulton Bank, N.A., is a financial services holding company with over $25 billion in assets, offering a wide range of financial products and services in Pennsylvania, New Jersey, Maryland, Delaware, and Virginia. Headquartered in Lancaster, PA, Fulton Financial Corp provides banking, investment, and insurance services through its network of branches, catering to individuals, businesses, and institutions in the Mid-Atlantic region.

Summarized from source with an LLMView SourceSector: Finance

Net Income

Fulton Financial Corp reported net income available to common shareholders of $92.4 million, or $0.52 per diluted share, for the second quarter of 2024. This represents an increase of $33.0 million, or $0.16 per share, compared to the first quarter of 2024.

Operating Net Income

Operating net income available to common shareholders for the three months ended June 30, 2024, was $82.5 million, or $0.47 per diluted share. This marks an increase of $17.1 million, or $0.07 per share, in comparison to the first quarter of 2024.

Net Interest Income

Fulton Financial Corp's net interest income for the second quarter of 2024 totaled $241.7 million, an increase of $34.8 million from the previous quarter. The recent acquisition contributed approximately $30.7 million to this increase.

Non-Interest Income

Non-interest income before investment securities gains (losses) was $113.3 million for the second quarter of 2024, compared to $57.1 million in the first quarter. The increase was primarily due to a $47.4 million gain on acquisition (net of tax) and $2.8 million from Republic Bank's operations.

Provision for Credit Losses

The provision for credit losses was $32.1 million in the second quarter of 2024, compared to $10.9 million in the first quarter. The increase was primarily related to the acquisition, which included a provision for credit losses of $23.4 million for non-purchased credit deteriorated loans.

Summarized from source with an LLMView Source

Key figures

19.3%1Y

17.2%3Y

12.4%5Y

Performance

33.0%1Y

31.7%3Y

40.1%5Y

Volatility