Fulton Financial (FULT) investor relations material

Executive summary

• Operating net income available to common shareholders was $99.7 million ($0.55 per diluted share) for Q1 2026, with strong profitability, disciplined execution, and a robust balance sheet.

• Net income available to common shareholders was $92.2 million ($0.51 per diluted share), up year-over-year, with operating return on average assets at 1.30% and operating return on tangible common equity at 14.76%.

• Closed the $2.1 billion acquisition of Blue Foundry Bancorp on April 1, 2026, expanding presence in northern New Jersey and supplementing organic growth.

• Strategic priorities focused on growth, efficiency, and long-term value creation, supported by a community banking model and ongoing organizational efficiency.

Financial highlights

• Net interest income was $262.0 million, down $4.0 million sequentially, with net interest margin at 3.58%, down one basis point from Q4 2025.

• Non-interest income was $69.8 million, stable sequentially and representing just over 20% of total revenue.

• Non-interest expense was $200.3 million, down $12.7 million from Q4, with operating expenses at $190.7 million and an efficiency ratio of 56.7%.

• Provision for credit losses was $14.4 million, with allowance for credit losses at $367.5 million (1.51% of total loans).

• Total assets reached $32.2 billion, with deposits at $26.8 billion and net loans at $24.3 billion.

Outlook and guidance

• Affirmed full-year 2026 operating guidance, with NII expected between $1.12–$1.14 billion, provision for credit losses $55–$75 million, and non-interest income $285–$300 million.

• Expect annualized mid-single-digit loan growth, controlled expense growth, and strong capital generation, with Blue Foundry cost saves reaching 50% run rate by Q4.

• Interest rate risk simulations indicate net interest income is resilient to moderate rate changes.