- **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

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

FULT

FULT fundamentals

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