Welcome to our dedicated page for Fulton Financial news (Ticker: FULT), a resource for investors and traders seeking the latest updates and insights on Fulton Financial stock.
Fulton Financial Corporation (symbol: FULT) is a substantial regional financial holding company with assets exceeding $17 billion. Headquartered in Lancaster, Pennsylvania, the company operates around 250 offices and ATMs across five states: Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.
Founded in 1882, the flagship bank, Fulton Bank, has a long-standing presence in South Central Pennsylvania, Delaware, and Virginia. Fulton Financial Corporation's business model includes a suite of consumer and commercial banking products such as checking and savings accounts, loan products, and wealth management services. The company's revenue streams include non-interest income from its robust Wealth Management division.
Through its affiliates, Fulton Financial Advisors, N.A. and Fulton Mortgage Company, the corporation provides a broad array of services. Fulton Financial Advisors offers trust, brokerage, and investment management services, while Fulton Mortgage Company specializes in residential mortgage services.
With a community-oriented banking style, Fulton Financial Corporation prides itself on maintaining strong personal relationships and community support. Their customer-centric approach ensures that they can listen to and meet the needs of their clients effectively.
Recent projects and partnerships highlight Fulton Financial Corporation's commitment to growth and innovation, adapting to the ever-evolving financial landscape while maintaining its traditional values.
Innovative Solutions & Support (NASDAQ: ISSC) has appointed Denise L. Devine as an independent director to its Board of Directors, expanding it to six members. Devine, who will also serve on the Audit Committee, brings significant expertise as the CEO of FNB Holdings and Nutripharm, Inc.
Devine's background includes serving as CFO for Energy Solutions International and holding financial management positions at Campbell Soup Company. She currently serves on the Board of Fulton Financial (NASDAQ:FULT). A certified public accountant, she has chaired the Pennsylvania State Board of Accountancy and served on the Board of the American Institute of CPAs.
The appointment aligns with IS&S's strategy to enhance board expertise in overseeing the company's growth in advanced avionic solutions, including next-generation navigation systems, flight deck displays, and autonomous flight technology.
Maryland's business landscape shows strong momentum entering 2025, with several companies reporting significant developments. Cloudforce in National Harbor concluded 2024 with successful AI initiatives, including Cloud + AI Meetups and partnerships with Microsoft. Fulton Bank (NASDAQ: FULT) partnered with Baltimore Community Lending, providing a $250,000 grant to support early-stage entrepreneurs.
Howard Hughes Holdings secured Polymedco as a tenant in Downtown Columbia, while SECU formed partnerships with the University of Maryland's One Maryland Collective and Alumni Association. St. John Properties leased 15,600 square feet at Annapolis Technology Park to The Centers for Advanced Orthopaedics.
TEDCO hosted its 2024 Entrepreneur Expo with over 1,000 attendees, T. Rowe Price received multiple workplace recognitions, and United Therapeutics achieved a milestone with the world's first xenokidney transplant into a human patient.
Fulton Bank has announced the formation of a new Capital Markets team, led by Christopher Bigos as Head of Capital Markets. The initiative aims to enhance the bank's capabilities in managing syndications, derivatives, and capital markets referral programs.
Head of Commercial Banking John Glover emphasized that this program will help deepen relationships with capital markets providers and expand credit capacity. In his role, Bigos will oversee commercial & industrial (C&I) and commercial real estate (CRE) syndications, customer interest rate hedging, and CRE capital markets.
Bigos brings nearly 20 years of commercial banking experience, having started at Fulton as a management trainee before progressing through various roles. His experience includes a stint at HFF, Inc.'s CRE capital markets group, where he developed expertise in CRE debt and equity placement.
Fulton Financial (NASDAQ: FULT) reported Q4 2024 net income of $66.1 million ($0.36 per diluted share), up $5.4 million from Q3 2024. Operating net income was $88.9 million ($0.48 per diluted share), down $2.4 million from Q3.
For full-year 2024, net income reached $278.5 million ($1.57 per share), with operating net income at $328.1 million ($1.85 per share), marking an 8% increase over 2023. Key Q4 metrics include a 3.41% net interest margin, decreased non-interest expense of $216.6 million, and an allowance for credit losses of 1.58% of total net loans.
Balance sheet showed $24.0 billion in net loans (down $131.2 million) and $26.1 billion in deposits (down $22.7 million) compared to Q3. Non-performing assets were 0.69% of total assets, with net charge-offs at 0.22% of average loans.
Fulton Financial (Nasdaq: FULT) has scheduled its fourth quarter 2024 earnings release for Tuesday, January 21, 2025, at approximately 4:30 p.m. Eastern Time. The company will host an analyst conference call on Wednesday, January 22, at 10 a.m. Eastern Time, led by Chairman and CEO Curtis J. Myers, accompanied by Senior Executive Vice President and CFO Rick Kraemer.
Fulton, a $30 billion financial holding company based in Lancaster, Pa., employs over 3,400 people and operates more than 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia through Fulton Bank, N.A.
Fulton Financial (FULT) has announced three key financial decisions: First, a quarterly cash dividend increase of one cent to $0.18 per common share, payable January 15, 2025, representing a nearly 6% increase. Second, a quarterly dividend of $12.81 per share on its Preferred Stock Series A. Third, approval of a new $125 million share repurchase program for 2025, including up to $25 million for preferred stock repurchases.
The program will run from January 1 to December 31, 2025, with purchases to be made through open market transactions or private negotiations. The Lancaster-based financial holding company, with over $30 billion in assets, operates more than 200 financial centers across five states through Fulton Bank.
Fulton Financial (NASDAQ: FULT) has appointed Richard Kraemer as Senior Executive Vice President and Chief Financial Officer, replacing Interim CFO Betsy Chivinski, who is retiring at year-end. Kraemer brings over 20 years of financial services experience and will oversee accounting, treasury, corporate development, tax, financial planning, investor relations, procurement, and real estate. In his previous role as Chief Banking Officer, he managed commercial markets and had P&L responsibility. He also served as Executive Vice President, Deputy CFO & Treasurer at a $60 billion assets company.
Fulton Financial (NASDAQ: FULT) reported Q3 2024 net income of $60.6 million, or $0.33 per diluted share, down $31.8 million from Q2 2024. However, operating net income increased to $91.3 million, or $0.50 per diluted share, up $8.8 million from Q2. Highlights include:
- Net interest margin increased to 3.49%
- Customer deposits grew by $745.0 million
- Common equity tier 1 capital rose to 10.5%
- Tangible shareholders' equity per share increased 4.7% to $13.02
- Net loans increased to $24.2 billion
- Total deposits grew to $26.2 billion
The quarter included $14.2 million in acquisition-related expenses and $9.4 million in FultonFirst implementation costs. Provision for credit losses decreased to $11.9 million from $32.1 million in Q2 2024.
Fulton Financial (Nasdaq: FULT) has announced the schedule for its third quarter 2024 earnings release and webcast. The earnings release and accompanying charts will be distributed on Tuesday, October 15, at approximately 4:30 p.m. Eastern Time. A conference call with analysts will be held on Wednesday, October 16, at 10 a.m. Eastern Time, hosted by Chairman and CEO Curtis J. Myers, joined by Rick Kraemer, Senior Executive Vice President and CFO Designee.
The webcast link and audio-only access information have been provided. Fulton, a $30 billion financial holding company based in Lancaster, Pa., operates more than 200 financial centers across five states through Fulton Bank, N.A., employing approximately 3,500 people.
Fulton Bank, a subsidiary of Fulton Financial , has launched Fulton Deposit Escrow Management, a new digital platform for escrow account and subaccount management. The service is provided in partnership with ZSuite Technologies and is aimed at clients in the real estate industry and municipal organizations. The platform, called ZEscrow, offers features such as bulk import capability, easy account access, and interest configuration.
Lou Lombardi, Fulton Bank Director of Middle Markets, emphasized that the platform provides customers with an easy and secure way to manage escrow accounts, offering real-time access to information. Nathan Baumeister, CEO of ZSuite Technologies, expressed excitement about the partnership, highlighting their commitment to providing advanced tools for businesses and individuals.
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