Fulton Financial Corp - FULT STOCK NEWS

Fulton Financial (Nasdaq: FULT) announced on June 18, 2024, that its Board of Directors has declared a quarterly cash dividend of seventeen cents per share on its common stock. This dividend will be payable on July 15, 2024, to shareholders of record as of July 1, 2024.

Additionally, the Board declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend will also be payable on July 15, 2024, to shareholders of record as of June 30, 2024, for the period from April 15, 2024, to July 15, 2024.

Fulton Financial, based in Lancaster, Pennsylvania, is a financial holding company with assets exceeding $30 billion. It employs over 3,500 people and operates more than 200 financial centers across six states through Fulton Bank.

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.

Fulton Bank, a subsidiary of Fulton Financial (NASDAQ: FULT), has partnered with Rider University to offer a banking program for students, faculty, staff, and alumni. The agreement includes various account options, workplace banking services, branded ATM/debit cards, and sponsorship of Rider Athletics. Fulton aims to enhance the banking experience for the university community.

Fulton Financial (NASDAQ: FULT) announced the closing of a $287.5 million public offering of common stock. The offering included 19,166,667 shares at $15 per share, with net proceeds of approximately $273.5 million. The funds will be used for general corporate purposes and to support new opportunities following an acquisition.

Fulton Financial announced the pricing of a $250 million offering of 16,666,667 shares of common stock at $15 per share, with a 30-day option for underwriters to purchase additional shares. The net proceeds are expected to be around $238 million. The offering will fund general corporate purposes, including business strategy opportunities post-acquisition of Republic First Bank assets. The expected closing date is around May 1, 2024.

Fulton Financial Announces Launch of Common Stock Offering

Fulton Financial (NASDAQ: FULT) today announced that it commenced an underwritten public offering of shares of its common stock. The expects to grant the underwriters a 30-day option to purchase additional shares of its common stock. Piper Sandler and BofA Securities are acting as joint book-running managers for the offering. The intends to use the net proceeds of the offering for general corporate purposes, including to support new opportunities in connection with its business strategy following its previously announced acquisition of substantially all of the assets and its assumption of substantially all of the deposits and certain liabilities of Republic First Bank, doing business as Republic Bank, from the Federal Deposit Insurance

Frequently asked questions:

Fulton Financial (NASDAQ: FULT) announced the acquisition of substantially all assets and deposits of Republic First Bank from the FDIC. The transaction has closed, doubling Fulton's regional presence. Key terms include assets of $6 billion and liabilities of $5.3 billion. Fulton advances growth in the Philadelphia market, improves liquidity, and donates $5 million to the Fulton Forward® Foundation.

Fulton Financial reported a decrease in net income available to common shareholders for the first quarter of 2024 compared to the fourth quarter of 2023. The net interest income decreased, but interest income from net loans increased. Asset quality remained stable, and non-interest income decreased due to various factors. Non-interest expense decreased primarily due to lower FDIC insurance expenses.

Fulton Bank, N.A., part of Fulton Financial (NASDAQ: FULT), has announced the availability of two $3,000 scholarships for local women pursuing degrees in STEM fields. These scholarships are facilitated by the bank's Women in Technology employee resource group. Eligible candidates must be female, reside in specific states within the bank's operational footprint, be high school seniors, and plan to enroll in a STEM major at an accredited institution for the 2024/2025 academic year. Applications must be submitted by May 10, 2024, with necessary documents to be considered. Children of Fulton Bank or Fulton Financial employees or board members are ineligible.