Fulton Bank Releases 2023 Corporate Social Responsibility Report

Rhea-AI Summary

Fulton Bank, a subsidiary of Fulton Financial (NASDAQ: FULT), has released its 2023 Corporate Social Responsibility Report. The report highlights the bank's commitment to customers, employees, communities, and the environment. Significant metrics include $270 million in community development investments, $187 million in mortgage loans to low- to moderate-income buyers, $120 million in Small Business Administration loan originations, and $9.99 million in charitable donations from 2022-2023. Additionally, Fulton Bank employees contributed 12,800 volunteer hours in 2023. The report also introduces the bank's first Stakeholder Perspectives Assessment and new statements on human rights, supplier conduct, and environmental sustainability.

Positive

• $270 million in community development investments in 2023.
• $187 million in mortgage loans to low- to moderate-income buyers from 2022-2023.
• $120 million in Small Business Administration loan originations from 2022-2023.
• $9.99 million in charitable donations from 2022-2023.
• 12,800 employee volunteer hours in 2023.
• Introduction of first Stakeholder Perspectives Assessment.
• New Human Rights Statement, Supplier Code of Conduct, and Environmental Sustainability Statement.

Negative

• None.

Report highlights how Fulton Bank works to build value for its stakeholders

LANCASTER, Pa.--(BUSINESS WIRE)-- Fulton Bank, a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), has released its 2023 Corporate Social Responsibility Report, featuring stories and data about how the bank works to build value for its stakeholders.

“Our values are reflected in our commitment to customers, employees, communities, the environment and responsible governance,” said Curt Myers, Chairman and Chief Executive Officer of Fulton Bank. “Over our 142-year history, we’ve learned that the best way to ensure our own success is to support others’ success. We’re a purpose-driven community bank that seeks to change lives for the better.”

Among the many metrics included in the report, Fulton Bank provided:

• $270 million in community development investments in 2023
• $187 million in mortgage loans to low- to moderate-income buyers from 2022-2023
• $120 million in Small Business Administration loan originations from 2022-2023
• $9.99 million in charitable donations in 2022-2023, including $4.75 million contributed to the Fulton Forward Foundation
• 12,800 employee volunteer hours during 2023

The 2023 report introduces Fulton’s first Stakeholder Perspectives Assessment, which identified what issues are most important to internal and external stakeholders, as well as the bank’s Human Rights Statement, Supplier Code of Conduct and Environmental Sustainability Statement.

Learn more in Fulton Bank’s 2023 Corporate Social Responsibility Report.

About Fulton Bank, N.A.

Headquartered in Lancaster, Pa., Fulton Bank is a premier community bank in the Mid-Atlantic region. As a subsidiary of Fulton Financial Corporation, a more than $30 billion financial services holding company, Fulton Bank offers a broad array of products and services at more than 200 financial centers across Pennsylvania, New York, New Jersey, Maryland, Delaware, and Virginia. At Fulton Bank, we seek to change lives for the better by building strong customer relationships, providing significant community support and empowering more than 3,500 employees to do the same. Through the Fulton Forward^® initiative, we’re helping build vibrant communities. Learn more at www.FultonBank.com. Fulton Bank, N.A., Member FDIC. Equal Housing Lender.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240605422479/en/

Steve Trapnell

(717) 291-2739

Source: Fulton Financial Corporation

FAQ

What are the key figures from Fulton Bank's 2023 Corporate Social Responsibility Report?

Key figures include $270 million in community development investments, $187 million in mortgage loans to low- to moderate-income buyers, $120 million in SBA loan originations, and $9.99 million in charitable donations from 2022-2023.

How much did Fulton Bank invest in community development in 2023?

Fulton Bank invested $270 million in community development in 2023.

What is the value of mortgage loans provided by Fulton Bank to low- to moderate-income buyers from 2022-2023?

Fulton Bank provided $187 million in mortgage loans to low- to moderate-income buyers from 2022-2023.

How much did Fulton Bank contribute in charitable donations from 2022-2023?

Fulton Bank contributed $9.99 million in charitable donations from 2022-2023.

What new assessments and statements were introduced in Fulton Bank's 2023 Corporate Social Responsibility Report?

The report introduced the first Stakeholder Perspectives Assessment and new Human Rights Statement, Supplier Code of Conduct, and Environmental Sustainability Statement.

How many volunteer hours did Fulton Bank employees contribute in 2023?

Fulton Bank employees contributed 12,800 volunteer hours in 2023.

What was the value of Small Business Administration loan originations by Fulton Bank from 2022-2023?

Fulton Bank originated $120 million in Small Business Administration loans from 2022-2023.