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- **Record Performance**: 2025 operating EPS of $2.16, 7% noninterest income growth, and 25% consumer deposit opening surge.
- **Loan Growth Recovery**: 2026 mid-single-digit growth expected, despite $800M 2025 headwinds.
- **Credit Strength**: Nonperforming assets at 58 basis points, allowance at 1.51%, and 198% coverage ratio.
- **2026 Guidance**: NII $1.12B-$1.14B, expenses $800M-$835M, and 18.5%-19.5% tax rate.
- **Strategic Expansion**: Blue Foundry acquisition to enhance Northern New Jersey market presence.

**【CEO Summary Section】**
- **2025 Performance Highlights**: Operating EPS of $2.16, a new record. Customer deposits grew by $449 million, with a 25% increase in consumer demand deposit openings. Noninterest income reached $277 million, up 7%, driven by commercial fees and wealth management. Credit metrics improved, with nonperforming assets down 11 basis points to 58 basis points.
- **Strategic Actions**: Despite $800 million headwinds from strategic loan runoff, achieved net loan growth. Wealth assets under management surpassed $17 billion, with referrals increasing 17%.
- **2026 Outlook**: Loan growth expected to return to mid-single-digit range. Expansion into Northern New Jersey via Blue Foundry acquisition to enhance community banking presence.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Operating EPS of $0.55, net interest income up 2.8% annualized. NIM expanded 2 basis points to 3.59%. Total loans increased $103 million, offset by $30 million indirect auto runoff. Deposits grew $257 million, with consumer and business banking driving growth.
- **2026 Guidance**: Net interest income $1.120-$1.140 billion. Operating expenses $800-$835 million, including $60 million nonoperating costs. Effective tax rate 18.5%-19.5%. Capital ratios at decade-high levels, supporting $59 million share buybacks.

**【Q&A Key Highlights】**
- **Loan Growth**: 2025 headwinds moderating; 2026 growth to mid-single digits, supported by 10%+ pipeline growth. Paydowns expected stable.
- **Provision Guidance**: $55-$75 million, reflecting stable credit environment. Allowance for loan losses at 1.51%.
- **Deposit Cost**: Q4 cost of deposits 1.80%, beta 20% in rate cuts. Focus on low-cost operating deposits.
- **Fee Income Volatility**: Swap income tied to originations; other fees impacted by equity method investments ($2.5M normalized).

Fulton Financial Corporation (FULT) Q4 2025 Earnings Call Transcript

- **Record Q3 Performance**: $101.3M net income, 56.5% efficiency ratio, 15.79% ROTCE. 
- **Revenue Growth**: All-time high revenue, 21% noninterest income, $17B wealth AUM. 
- **Margin Expansion**: NIM +10bps to 3.57%, driven by $5.4B repricing assets. 
- **Capital Returns**: $1.65M shares repurchased, $86M buyback remaining. 
- **Credit Strength**: NPA ratio 0.63%, ACL coverage 189%. 
- **Guidance Update**: NII raised to $1.025-1.035B, fee income tightened to $270-280M. 
- **Rate Impact**: 25bps cuts in Q4 will pressure NIM, but 33% deposit beta to offset. 
- **Growth Targets**: 4-6% loan growth, 16-17% securities as assets. 


**【CEO Summary Section】**
- **Strong Q3 Results**: Operating earnings of $101.3 million ($0.55 per share), driven by 56.5% efficiency ratio and 15.79% ROTCE. 
- **Revenue Growth**: Total revenue hit all-time high, with noninterest income at 21% of total revenue. Wealth management AUM reached $17 billion.
- **Capital Deployment**: Repurchased 1.65 million shares ($18.67 avg price), with $86M remaining under buyback authorization. Tangible book value grew 18% annualized.
- **Balance Sheet Management**: Loan growth headwinds ($600M YTD) expected to moderate, targeting long-term 4-6% organic growth. Loan-to-deposit ratio at 91%.
- **Credit Quality**: NPA ratio improved to 0.63%, charge-offs at 18bps, ACL coverage at 189%.

**【CFO Financial Commentary】**
- **Net Interest Income**: $264.2M (non-FTE basis), +$9.3M QoQ. NIM expanded 10bps to 3.57%, driven by fixed rate repricing ($5.4B assets repricing at 5.08% yield). 
- **Fee Income**: $70.4M, up 12% QoQ, with wealth management and consumer banking leading. 
- **Expense Control**: Operating expenses $191.4M (+$3.8M QoQ), disciplined deposit beta (33% cumulative). 
- **Updated Guidance**: 
  - NII: $1.025-1.035B (up from $1.01-1.03B) 
  - Fee Income: $270-280M (tightened from $260-280M) 
  - Operating Expenses: $750-760M (lowered top end from $760-770M) 
  - Tax Rate: 19-20% (up from 18-19%) 
- **Liquidity**: Securities at 15.8% of assets, targeting 16-17% long-term. 

**【Q&A Highlights】**
- **NIM Outlook**: 25bps rate cuts in Q4 will pressure NIM, but 33% deposit beta will offset over time. 
- **Loan Growth Pipeline**: 4-6% long-term target, currently at low end due to cautious customer spending. 
- **Capital Allocation**: Buybacks ($86M remaining) and M&A ($1-5B community banks) priorities. 
- **NDFI Exposure**: Minimal, primarily Tier 2 subordinated debt to community banks. 
- **Deposit Strategy**: Managing $450M seasonal municipal outflows through cost-effective alternatives. 


Fulton Financial Corporation (FULT) Q3 2025 Earnings Call Transcript

- **Record Q2 Earnings**: $100.6 million operating net income, up $0.03 linked-quarter, with 57.1% efficiency ratio.
- **Revenue Growth Drivers**: 4 bps NIM expansion to 3.47% and 7% fee income growth (excluding one-time items).
- **Balance Sheet Management**: $117 million securities added; loan-to-deposit ratio stable at 92%.
- **Updated Guidance**: Net Interest Income $1.005-1.025 billion, Fee Income $265-280 million, Operating Expenses $750-765 million.
- **Share Repurchases**: 522,000 shares repurchased, driving 9.5% annualized tangible book value growth.
- **Credit Resilience**: Allowance-to-loans ratio 1.57%, with 177% coverage of nonperforming loans.


**【CEO Summary Section】**
- **Record Operating Earnings**: $100.6 million ($0.55 per share), a $0.03 linked-quarter increase, driven by net interest income growth and fee income expansion.
- **Revenue Growth**: Total revenue increased, with net interest margin up 4 basis points to 3.47% and noninterest income hitting $69.1 million (21% of total revenue).
- **Loan and Deposit Trends**: Loans grew $150 million (2.5%), while deposits declined $191 million due to seasonal municipal outflows. Loan-to-deposit ratio remained stable at 92%.
- **Credit Performance**: Charge-offs and provision expense decreased linked-quarter, with nonaccrual loans up slightly but coverage ratio at 177%.
- **Share Repurchases**: 522,000 shares repurchased, contributing to 9.5% annualized tangible book value growth.

**【CFO Financial Commentary】**
- **Net Interest Income**: $254.9 million (+$3.7 million linked-quarter), benefiting from fixed-rate asset repricing but offset by Republic portfolio accretion decline.
- **Noninterest Income**: $69.1 million, with Wealth Management and Commercial Banking fees at all-time highs. Fee income up 7% linked-quarter (excluding one-time items).
- **Expense Management**: Operating expenses at $187.6 million (+$4.8 million linked-quarter), guided to $190-195 million for Q3/Q4. Efficiency ratio improved to 57.1%.
- **Capital Position**: CET1 ratio at 11.3%, with $55 million internal capital generation. $117 million securities added to maintain liquidity.
- **Updated Guidance**: 
  - Net Interest Income: $1.005-1.025 billion
  - Provision Expense: $50-70 million
  - Fee Income: $265-280 million
  - Operating Expenses: $750-765 million
  - Tax Rate: 18.5%-19.5%

**【Q&A Key Highlights】**
- **Expense Guidance**: Q2 below $190-195 million range; expect to stay near midpoint for Q3/Q4, with flexibility for new initiatives.
- **Fee Income Outlook**: Consistent performance across categories; targeting top end of $265-280 million range if trends continue.
- **Loan Pipeline**: Up linked-quarter, but cautious pull-through rates due to economic uncertainty. Focus on C&amp;I growth.
- **M&amp;A Strategy**: Community banks $1-5 billion; disciplined on metrics and strategic fit.
- **Deposit Management**: Cost beta 28%; aiming to fund loan growth with customer deposits, despite competitive pressures.
- **NII Outlook**: Steady growth assuming no Fed moves; spreads under competitive pressure but still healthy.
- **Accretable Yield**: $11-12 million quarterly, depending on prepayments.
- **Stock Buybacks**: $115 million remaining; opportunistic based on capital needs.
- **Consumer Pipelines**: Seasonal strength in Q2; expect base-level growth with some quarterly variability.
- **FultonFirst Initiative**: $8.5 million net savings in Q2, tracking ahead of $25 million annual target.
- **Credit Trends**: Resilient portfolio with cautious outlook; one-off construction NPL migration resolved.


Fulton Financial Corporation (FULT) Q2 2025 Earnings Call Transcript

- **Operating Performance Strong**: Q1 EPS up 8%, efficiency ratio 56.7%, with loan growth constrained by strategic runoff ($38M auto, $231M Construction).
- **NIM Resilient**: 3.43% despite rate cuts, deposit beta 25% limiting cost pressure.
- **Credit Quality Stable**: ACL coverage 159%, NPLs improving, but cautious outlook due to macro uncertainty.
- **2025 Guidance**: NII $1.01-1.05B, expenses $720-735M, with 4x 25bps rate cuts expected.
- **Share Buyback Potential**: 30K shares bought in Q1, but no timeline for resuming program.


**【CEO Opening Remarks】**
- Q1 2025 operating EPS of $0.52, up $0.04 QoQ, driven by cost reduction and positive operating leverage.
- Operating efficiency ratio improved to 56.7%, with ROA at 1.25% and ROTCE at 15.95%.
- Loan growth constrained by strategic actions: $38M decline in indirect auto loans, $231M drop in commercial construction loans, and accelerated resolution of troubled assets.
- Deposit growth of $200M (3%) in interest-bearing money market accounts, with non-interest-bearing deposits at 20.6% of total.
- Credit quality metrics improved, with NPL ratio declining and net charge-offs down 1 bps QoQ.

**【CFO Financial Review】**
- Net interest income (NII) of $251M (-$2.5M QoQ), with NIM of 3.43% (+2 bps QoQ).
- Loan yields declined 11 bps to 5.86%, partially offset by 11 bps deposit cost reduction to 2.03%.
- Non-interest income of $67.2M, with fee income at 21% of revenue.
- Operating expenses down $7.8M QoQ to $182.9M, excluding $4.4M in professional fees.
- 2025 guidance: NII $1.01-1.05B, fee income $270-280M, operating expenses $720-735M.
- Expecting 4x 25bps Fed rate cuts in 2025, with NII headwind of ~$1.7M annualized per 25bps cut.

**【Q&A Highlights】**
1. **Loan Growth Outlook**: 
   - Q1 originations flat QoQ, but strategic headwinds (auto/Construction runoff) caused $182M decline.
   - 2025 loan growth expected in low-single digits, with pipeline up YoY but cautious pull-through.
   - Auto dealer book reduced due to credit standards tightening.

2. **Credit Risk**: 
   - Ag portfolio ($1B) most exposed to tariffs/commodity price volatility, but well-diversified.
   - Manufacturing sector monitoring input cost impacts, but limited import/export exposure.
   - ACL coverage at 159% of loans, 193% of NPLs, with CECL modeling incorporating downside scenarios.

3. **Share Repurchases**: 
   - Purchased 30K shares in Q1 at ~$30 price, but prioritizing organic growth and initiatives.
   - Buyback potential if no growth opportunities, but no timeline announced.

4. **Balance Sheet Strategy**: 
   - Adding ~$40-50M/month in investment securities with 5.56% yield, 3-year duration.
   - Loan-to-deposit ratio at 91%, targeting stable asset growth.

5. **Expense Management**: 
   - Q1 operating expenses down $7.8M, but expect $190-195M/Q in 2025 with merit increases.
   - FultonFirst initiative to add $14M non-operating costs for 2025.


Fulton Financial (FULT)-16 Apr 25-2025 Q1 Earnings call transcript

- **Record 2024 performance**: $1.2 billion revenue, 12.6% loan growth, and 21.3% deposit expansion driven by Republic integration.
- **Cost savings acceleration**: $5 million quarterly FultonFirst savings, targeting $25 million annualized by 2025.
- **2025 guidance confidence**: Flat to slightly rising net interest income, with $265-280 million noninterest income growth.
- **Strategic flexibility**: Open to M&A while maintaining strong capital position (tangible capital ratio above 10%).

**【CEO Opening Remarks】**
- **Record financial performance**: 2024 total revenue reached $1.2 billion, operating EPS of $1.85, and 750,000+ customers.
- **Republic transaction success**: Fully integrated Republic Bank, achieving $4.6 billion deposit growth (21.3% YoY) and $2.7 billion loan growth (12.6% YoY).
- **FultonFirst initiative progress**: Achieved $5 million quarterly cost savings, targeting $25 million annualized by 2025.
- **Balance sheet strength**: Loan-to-deposit ratio at 92%, below long-term target range of 95%-105%.

**【CFO Financial Highlights】**
- **Q4 2024 results**: Operating EPS of $0.48, net interest income of $254 million, and noninterest income of $68.6 million (13.4% YoY growth).
- **Cost management**: Operating expenses down 3% QoQ, with $10 million FultonFirst implementation costs and $9.6 million acquisition-related expenses.
- **2025 guidance**: Net interest income $995-1.02 billion, provision for credit losses $60-80 million, noninterest income $265-280 million, and operating expenses $755-775 million.

**【Key Q&A Insights】**
- **Loan growth outlook**: 2025 target of low to mid-single-digit growth, offsetting $40 million annual indirect auto runoff.
- **Deposit retention**: Republic Bank deposits stable, with 85% of CDs repricing at lower rates in 2025.
- **M&A strategy**: Open to $1-5 billion community bank acquisitions, prioritizing cultural fit and strategic alignment.
- **FultonFirst impact**: $25 million annualized cost savings by 2026, with no direct revenue contributions but enhanced operational efficiency.


Actual											0.16	0.24	0.38	0.3	0.43	0.38	0.45	0.37	0.38	0.42	0.4	0.47	0.39	0.46	0.42	0.37	0.36	0.52	0.33	0.36	0.49	0.53	0.53	0.53
Forecast											0.0029	0.085	0.2013	0.28	0.3463	0.33	0.3288	0.3725	0.3188	0.3663	0.3914	0.4988	0.4787	0.42	0.4063	0.4025	0.385	0.126	0.4343	0.3829	0.4129	0.425	0.486	0.488	0.4721
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+5417.24%	+182.35%	+88.77%	+7.14%	+24.17%	+15.15%	+36.86%	-0.67%	+19.20%	+14.66%	+2.20%	-5.77%	-18.53%	+9.52%	+3.37%	-8.07%	-6.49%	+312.70%	-24.02%	-5.98%	+18.67%	+24.71%	+9.05%	+8.61%	0.00%

FULT

FULT fundamentals

FULT Q1 2026 Earnings Preview

Earnings Call

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FULT

FULT fundamentals

FULT Q1 2026 Earnings Preview

Earnings Call

FULT Earnings Call Summary for Q1/2026Upcoming10:00 AM on Apr 23, 2026

FULT Earnings Call Summary for Q4/202510:00 AM on Jan 22, 2026

FULT Earnings Call Summary for Q3/202510:00 AM on Oct 22, 2025

FULT Earnings Call Summary for Q2/202510:00 AM on Jul 16, 2025

FULT Earnings Call Summary for Q1/202510:00 AM on Apr 16, 2025

You can ask Aime