Who published this market news?

PR Newswire published this market news item, with source attribution at https://www.prnewswire.com/.

Fulton Financial Corporation Announces Second Quarter 2026 Results

LANCASTER, Pa., July 22, 2026 /PRNewswire/ -- Fulton Financial Corporation (NASDAQ:FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $99.9 million, or $0.52 per diluted share, for the second quarter of 2026, an increase of $7.7 million, or $0.01 per diluted share, in comparison to the first quarter of 2026. Operating net income available to common shareholders for the three months ended June 30, 2026 was $115.9 million(1), or $0.60 per diluted share(1), an increase of $16.2 million, or $0.05 per diluted share, in comparison to the first quarter of 2026.

Net income available to common shareholders for the six months ended June 30, 2026 was $192.1 million, or $1.02 per diluted share, an increase of $5.0 million, and unchanged on a per diluted share basis, in comparison to the six months ended June 30, 2025. Operating net income available to common shareholders for the six months ended June 30, 2026, was $215.5 million(1), or $1.15 per diluted share(1), an increase of $19.4 million, or $0.08 per diluted share, in comparison to the six months ended June 30, 2025.

"During the quarter, we achieved record financial results and successfully completed the acquisition of Blue Foundry Bancorp," said Curtis J. Myers, Fulton Chairman, CEO, and President. "With the successful integration of Blue Foundry Bank already occurring earlier this month, we are well positioned to deepen existing relationships and drive growth in this expanded footprint. Our ongoing strong performance is due to high demand for our community banking approach and the commitment of our dedicated team members to making banking personal. Our sustained focus on executing our strategic priorities is creating long-term value for our shareholders."

Blue Foundry Bancorp Transaction(2)

On April 1, 2026, the Corporation completed its acquisition of Blue Foundry Bancorp and Blue Foundry Bank became a wholly owned subsidiary of the Corporation. On July 11, 2026, Blue Foundry Bank merged with and into Fulton Bank.

As a result of the Blue Foundry Bancorp Transaction, the Corporation acquired total assets with preliminary fair values of approximately $2.1 billion including total loans with a preliminary fair value of approximately $1.6 billion and investments with a fair value of $226.5 million. The Corporation assumed total liabilities with a fair value of $1.8 billion including total deposits with a fair value of $1.5 billion and borrowings with a fair value of $276.0 million.

Financial Highlights

Second quarter of 2026 operating results of $0.60 per diluted share(1) were impacted by the following items:

Net interest margin remained solid at 3.60%, representing a two basis point increase from the prior quarter.

Non-interest income increased $9.5 million to $79.3 million compared to $69.8 million in the prior quarter.

Non-interest expense increased $30.7 million to $231.0 million compared to $200.3 million in the prior quarter. Operating non-interest expense increased $19.9 million to $210.6 million(1) compared to $190.7 million in the prior quarter.

Provision for credit losses was $4.9 million resulting in an allowance for credit losses attributable to net loans of $382.6 million, or 1.48% of total net loans as of June 30, 2026. The initial allowance for credit losses on loans acquired in the Blue Foundry Bancorp Transaction was $31.0 million.

Common equity tier 1 capital ratio(3) increased to approximately 12.1% compared to 11.9% in the prior quarter.

During the second quarter of 2026, 525,000 shares of the Corporation's common stock were repurchased under the 2026 Repurchase Program(4) at a cost of $11.1 million or an average of $21.19 per share. As of June 30, 2026, the Corporation repurchased $35.6 million of common stock under the 2026 Repurchase Program.

The following items highlight notable changes in the components of net income in the second quarter of 2026 compared to the first quarter of 2026:

Net interest income increased $22.2 million to $284.3 million driven by a $17.5 million increase attributable to the Blue Foundry Bancorp Transaction. A $32.6 million increase in interest income on net loans, a $2.9 million increase in interest income on investment securities and a $2.6 million increase in interest income in other interest-earning assets were partially offset by a $10.9 million increase in interest expense on deposits and a $4.9 million increase in interest expense on borrowings and other interest-bearing liabilities. Purchase loan mark accretion from loans acquired in the Republic Transaction(5) was $9.9 million in the second quarter of 2026 compared to $10.3 million in the prior quarter. Purchase loan mark accretion from loans acquired in the Blue Foundry Bancorp Transaction was $5.2 million in the second quarter of 2026. Interest expense on borrowings and other interest-bearing liabilities included approximately $2.4 million from the Corporation's $195.0 million aggregate principal amount of outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030 that were redeemed on June 15, 2026.

Non-interest income before investment securities gains (losses) was $79.3 million compared to $69.8 million in the prior quarter. The $9.5 million increase was primarily attributable to a $7.3 million increase in income from equity method investments, reflected in other income, that included $6.9 million of income recognized from an equity method investment that was sold during the quarter. Compared to the prior quarter, mortgage banking income increased by $1.0 million.

Non-interest expense was $231.0 million compared to $200.3 million in the prior quarter. The $30.7 million increase was primarily due to an $11.2 million increase in acquisition-related expenses and a $10.3 million increase in salaries and employee benefits expense driven by a $6.2 million increase as a result of the Blue Foundry Bancorp Transaction and a $3.5 million increase in incentive compensation expense. Increases of $2.2 million and $1.8 million in other outside services expense and data processing and software expense, respectively, were primarily driven by the Blue Foundry Bancorp Transaction. Other non-interest expense for the second quarter of 2026 included a $2.1 million charge incurred related to merging two employee pension plans and $0.8 million of debt extinguishment costs.

Balance Sheet Summary

Total net loans increased $1.7 billion to $25.9 billion compared to $24.3 billion as of March 31, 2026. The increase was primarily due to a $1.6 billion increase in loans, based on preliminary fair values, as a result of the Blue Foundry Bancorp Transaction. Excluding the Blue Foundry Bancorp Transaction, net loans increased $102.6 million with an increase of $206.9 million in consumer loans(6), partially offset by a decrease of $104.3 million in commercial loans(6).

Deposits totaled $28.3 billion, a $1.5 billion increase compared to $26.8 billion as of March 31, 2026. The increase was primarily due to a $1.2 billion increase in deposits as a result of the Blue Foundry Bancorp Transaction. Excluding the Blue Foundry Bancorp Transaction, net deposits increased $249.2 million due to increases of $257.4 million in brokered deposits, $189.4 million in savings deposits and $76.4 million in time deposits, partially offset by decreases of $155.6 million in interest-bearing demand deposits and $118.5 million in noninterest-bearing demand deposits.

On May 5, 2026, the Corporation issued $300.0 million aggregate principal amount of 5.950% Fixed-to-Floating Rate Subordinated Notes due 2036. On June 15, 2026, the Corporation redeemed $195.0 million aggregate principal amount of outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030.

Provision for Credit Losses and Asset Quality

The provision for credit losses totaled $4.9 million in the second quarter of 2026 compared to $14.4 million in the first quarter of 2026.

The allowance for credit losses attributable to net loans was $382.6 million, or 1.48% of total net loans as of June 30, 2026, compared to $367.5 million, or 1.51% of total net loans as of March 31, 2026. The increase was largely due to a $28.7 million increase in the allowance for credit losses as a result of the Blue Foundry Bancorp Transaction.

Non-performing assets were $187.1 million, or 0.54% of total assets, as of June 30, 2026, in comparison to $177.5 million, or 0.55% of total assets, as of March 31, 2026. Non-performing assets include $16.4 million from the Blue Foundry Bancorp Transaction.

Annualized net charge-offs for the second quarter of 2026 were 0.34% of total average loans in comparison to 0.25% in the prior quarter.

Additional information on Fulton is available at www.fultonbank.com.

(1)

Financial measure derived by methods other than generally accepted accounting principles ("GAAP"). Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of the press release.

(2)

On April 1, 2026, the Corporation completed its previously announced acquisition of Blue Foundry Bancorp (the "Blue Foundry Bancorp Transaction"). Following the Blue Foundry Bancorp Transaction, Blue Foundry Bank, a New Jersey-chartered stock savings bank and wholly owned subsidiary of Blue Foundry Bancorp, operated as a separate, wholly owned subsidiary of the Corporation until Blue Foundry Bank merged with and into the Corporation's wholly owned subsidiary Fulton Bank, National Association ("Fulton Bank") on July 11, 2026, with Fulton Bank continuing as the surviving bank.

(3)

Regulatory capital ratios as of June 30, 2026 are preliminary estimates and prior periods are actual.

(4)

The 2026 Repurchase Program represents the authorization, commencing on January 1, 2026 and expiring on January 31, 2027, to repurchase up to $150 million, excluding fees, commissions, excise tax and other ancillary expenses, of the Corporation's common stock. Under this authorization, up to $25 million of the $150 million authorization may be used to repurchase the Corporation's preferred stock, outstanding subordinated notes due 2030 or outstanding subordinated notes due 2035. As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time under the 2026 Repurchase Program in open market or privately negotiated transactions, including without limitation, through accelerated share repurchase transactions. The 2026 Repurchase Program may be discontinued at any time.

(5)

On April 26, 2024, Fulton Bank acquired substantially all of the assets and assumed substantially all of the deposits and certain liabilities of Republic First Bank, doing business as Republic Bank ("Republic Bank"), from the Federal Deposit Insurance Corporation (the "FDIC"), as receiver for Republic Bank (the "Republic Transaction"), pursuant to the terms of the Purchase and Assumption Agreement - Whole Bank, All Deposits, effective as of April 26, 2024 among the FDIC, as receiver of Republic Bank, the FDIC and Fulton Bank.

(6)

Commercial loans, excluding those acquired in the Blue Foundry Bancorp Transaction, include decreases of $54.9 million in commercial and industrial loans, $29.7 million in commercial construction loans, reflected in real estate - construction, $18.8 million in real estate - commercial mortgage loans and $1.0 million in leases and other loans. Consumer loans, excluding those acquired in the Blue Foundry Bancorp Transaction, include increases of $132.3 million in real estate - residential mortgage loans, $48.7 million in real estate - home equity loans, $20.9 million in residential construction loans, reflected in real estate - construction and $5.0 million in consumer loans.

Note: Some numbers contained in this document may not sum due to rounding.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to the Corporation's financial condition, results of operations and business. Forward-looking statements are any statement that does not relate to historical or current facts and can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation's future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation's business or financial results.

Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation's business, plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Numerous factors could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, including, but not limited to, the following: the impact of adverse conditions in the economy and financial markets; trade policies and the imposition of tariffs and retaliatory tariffs; the impacts of events affecting the financial services industry; the effects of actions by the federal government, including those of the Board of Governors of the Federal Reserve System and other government agencies, that impact the money supply and market interest rates; the effects of market interest rates and the relative balances of interest rate-sensitive assets to interest rate-sensitive liabilities on net interest margin and net interest income; the composition of the Corporation's loan portfolio and potential exposure to increased credit risk; the effects of changes in interest rates; investment securities gains and losses, including declines in the fair value of securities; disruptions in liquidity markets; capital and liquidity strategies; the Corporation's ability to generate capital internally or raise capital on favorable terms; the effects of competition; possible goodwill impairment charges; the impact of operational risks; the loss of, or failure to safeguard, confidential or proprietary information; the Corporation's failure to identify and promptly address cybersecurity risks; the impact of failures of the Corporation's third-party vendors to perform in accordance with contractual arrangements; the effects of concerns about other financial institutions on the Corporation; potential losses in connection with repurchase and indemnification payments related to sold loans; the effects of climate change on the Corporation's business and results of operations; the effects of increases in non-performing assets; the determination of the allowance for credit losses; the effects of the extensive level of regulation and supervision to which the Corporation and Fulton Bank are subject; changes in law, regulation and government policy; the continuing impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act; potential negative consequences resulting from regulatory violations, investigations and examinations; the effects of adverse outcomes in litigation and governmental or administrative proceedings; the effects of changes in U.S. federal, state or local tax laws; the effects of the significant amounts of time and expense associated with regulatory compliance and risk management; the Corporation's ability to realize anticipated reductions in non-interest expense and increases in revenue from strategic initiatives implemented from time to time; risks related to the acquisition of Blue Foundry Bancorp; completed and potential future acquisitions may affect costs and the Corporation may not be able to successfully integrate the acquired business or realize the anticipated benefits from such acquisitions; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism, military conflicts, wars and other international hostilities; public health crises and pandemics; the Corporation's ability to achieve its growth plans; the Corporation's ability to attract and retain talented personnel; the effects of competition from financial service companies and other companies offering bank services; the Corporation's ability to keep pace with technological changes; the Corporation's reliance on its subsidiaries for substantially all of its revenues; and the effects of negative publicity on the Corporation's reputation. For additional information about factors that could cause actual results to differ materially from those described in forward-looking statements, refer to the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2025, Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov).

Non-GAAP Financial Measures

The Corporation uses certain financial measures in this press release that have been derived from methods other than GAAP. These non-GAAP financial measures are reconciled to the most comparable GAAP measures in tables at the end of this press release.

FULTON FINANCIAL CORPORATION

SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)

(dollars in thousands, except per share and shares data)

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

Ending Balances

Investment securities(1)

$ 5,122,759

$ 4,861,967

$ 4,833,744

$ 5,045,270

$ 5,093,027

Net loans

25,934,293

24,266,345

24,144,884

24,041,489

24,012,539

Total assets

34,556,720

32,237,438

32,118,400

31,995,086

32,040,448

Deposits

28,250,342

26,768,335

26,589,407

26,332,490

26,138,067

Shareholders' equity

3,815,813

3,505,283

3,490,447

3,413,598

3,329,246

Average Balances

Investment securities(1)

4,983,015

4,785,276

4,921,669

5,025,072

5,084,371

Net loans

25,883,823

24,225,655

24,053,089

24,020,322

23,899,743

Total assets

34,193,608

31,999,228

32,013,163

31,924,038

31,901,574

Deposits

28,014,666

26,451,094

26,537,659

26,298,680

26,125,602

Shareholders' equity

3,788,421

3,543,911

3,464,539

3,361,368

3,304,015

Income Statement

Net interest income

284,252

262,023

266,042

264,198

254,921

Provision for credit losses

4,897

14,442

2,948

10,245

8,607

Non-interest income

79,306

69,841

69,980

70,407

69,148

Non-interest expense

230,954

200,294

212,986

196,574

192,811

Income before taxes

127,707

117,128

120,088

127,786

122,651

Net income available to common shareholders

99,852

92,199

96,408

97,892

96,636

Per Share

Net income available to common shareholders (basic)

$0.52

$0.51

$0.53

$0.54

$0.53

Net income available to common shareholders (diluted)

$0.52

$0.51

$0.53

Operating net income available to common shareholders(2)

$0.60

$0.55

Cash dividends

$0.19

$0.18

Common shareholders' equity

$18.92

$18.52

$18.33

$17.81

$17.20

Common shareholders' equity (tangible)(2)

$15.61

$15.12

$14.92

$14.39

$13.78

Weighted average shares (basic)

191,386

179,720

180,405

181,658

182,261

Weighted average shares (diluted)

192,997

181,655

182,197

183,349

183,813

(1) Includes related unrealized holding gains (losses) for available for sale ("AFS") securities.

(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

Asset Quality

Net charge-offs to average loans (annualized)

0.34 %

0.25 %

0.24 %

0.18 %

0.20 %

Non-performing loans to total net loans

0.70 %

0.72 %

0.76 %

0.83 %

0.89 %

Non-performing assets to total assets

0.54 %

0.55 %

0.58 %

0.63 %

0.67 %

ACL - loans(1) to total loans

1.48 %

1.51 %

1.57 %

ACL - loans(1) to non-performing loans

211 %

209 %

198 %

189 %

177 %

Profitability

Return on average assets

1.20 %

1.23 %

1.25 %

Operating return on average assets(2)

1.39 %

1.30 %

1.27 %

1.29 %

1.30 %

Return on average common shareholders' equity

11.14 %

11.16 %

11.69 %

12.26 %

12.46 %

Operating return on average common shareholders' equity (tangible)(2)

15.71 %

14.76 %

14.86 %

15.79 %

16.26 %

Net interest margin

3.60 %

3.58 %

3.59 %

3.57 %

3.47 %

Efficiency ratio(2)

57.3 %

56.7 %

60.0 %

56.5 %

57.1 %

Non-interest expense to total average assets

2.71 %

2.54 %

2.64 %

2.44 %

2.42 %

Operating non-interest expense to total average assets(2)

2.47 %

2.42 %

2.53 %

2.38 %

2.36 %

Capital Ratios(3)

Tangible common equity ratio ("TCE")(2)

8.8 %

8.6 %

8.5 %

8.3 %

8.0 %

Tier 1 leverage ratio

9.9 %

9.7 %

9.6 %

9.4 %

Common equity Tier 1 capital ratio

12.1 %

11.9 %

11.8 %

11.6 %

11.3 %

Tier 1 risk-based capital ratio

12.8 %

12.7 %

12.6 %

12.4 %

12.1 %

Total risk-based capital ratio

15.9 %

15.2 %

15.0 %

14.7 %

(1) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Net Loans" and does not include the ACL related to off-balance-sheet

("OBS") credit exposures.

(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.

(3) Regulatory capital ratios as of June 30, 2026 are preliminary estimates and prior periods are actual.

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)

(dollars in thousands)

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

ASSETS

Cash and due from banks

$ 325,259

$ 311,796

$ 271,463

$ 307,267

$ 362,280

Other interest-earning assets

1,076,395

871,066

911,155

643,111

583,899

Loans held for sale

33,902

11,887

16,316

19,875

23,281

Investment securities

5,122,759

4,861,967

4,833,744

5,045,270

5,093,027

Net loans

25,934,293

24,266,345

24,144,884

24,041,489

24,012,539

Less: ACL - loans(1)

(382,580)

(367,489)

(364,462)

(376,258)

(377,337)

Loans, net

25,551,713

23,898,856

23,780,422

23,665,231

23,635,202

Net premises and equipment

186,184

168,941

175,240

178,644

184,290

Accrued interest receivable

121,220

112,083

113,698

114,003

117,130

Goodwill and intangible assets

633,485

607,647

612,996

618,361

623,729

Other assets

1,505,803

1,393,195

1,403,366

1,403,324

1,417,610

Total Assets

$ 34,556,720

$ 32,237,438

$ 32,118,400

$ 31,995,086

$ 32,040,448

LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits

$ 28,250,342

$ 26,768,335

$ 26,589,407

$ 26,332,490

$ 26,138,067

Borrowings

1,713,976

1,252,579

1,297,375

1,471,961

1,773,900

Other liabilities

776,589

711,241

741,171

777,037

799,235

Total Liabilities

30,740,907

28,732,155

28,627,953

28,581,488

28,711,202

Shareholders' equity

3,815,813

3,505,283

3,490,447

3,413,598

3,329,246

Total Liabilities and Shareholders' Equity

$ 34,556,720

$ 32,237,438

$ 32,118,400

$ 31,995,086

$ 32,040,448

LOANS, DEPOSITS AND BORROWINGS DETAIL:

Loans, by type:

Real estate - commercial mortgage

$ 10,914,813

$ 9,985,368

$ 9,820,944

$ 9,734,156

$ 9,678,038

Commercial and industrial

4,559,732

4,494,031

4,539,060

4,437,905

4,541,765

Real estate - residential mortgage

7,250,949

6,735,338

6,669,993

6,617,017

6,511,687

Real estate - home equity

1,336,068

1,253,192

1,242,831

1,214,399

1,193,410

Real estate - construction

946,654

876,498

970,298

1,134,748

1,155,099

Consumer

570,093

565,041

564,349

566,291

583,949

Leases and other loans(2)

355,984

356,877

337,409

336,973

348,591

Total Net Loans

$ 25,934,293

$ 24,266,345

$ 24,144,884

$ 24,041,489

$ 24,012,539

Deposits, by type:

Noninterest-bearing demand

$ 5,245,586

$ 5,334,920

$ 5,256,096

$ 5,136,210

$ 5,337,771

Interest-bearing demand

8,146,057

7,823,683

7,970,188

8,035,393

7,593,083

Savings

9,277,215

8,875,256

8,512,829

8,417,678

8,271,925

Total demand and savings

22,668,858

22,033,859

21,739,113

21,589,281

21,202,779

Brokered

975,204

715,850

855,042

709,667

817,398

Time

4,606,280

4,018,626

3,995,252

4,033,542

4,117,890

Total Deposits

$ 28,250,342

$ 26,768,335

$ 26,589,407

$ 26,332,490

$ 26,138,067

Borrowings, by type:

Federal Home Loan Bank advances

$ 552,500

$ 200,000

$ 250,000

$ 450,000

$ 800,000

Senior debt and subordinated debt

469,668

367,720

367,637

367,557

367,476

Other borrowings

691,808

684,859

679,738

654,404

606,424

Total Borrowings

$ 1,713,976

$ 1,252,579

$ 1,297,375

$ 1,471,961

$ 1,773,900

(1) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.

(2) Includes equipment lease financing, overdraft and net origination fees and costs.

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(dollars in thousands, except per share and share data)

Three months ended

Six months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

2026

2025

Net Interest Income:

Interest income

$ 428,154

$ 390,056

$ 403,416

$ 411,006

$ 402,761

$ 818,210

$ 802,452

Interest expense

143,902

128,033

137,374

146,808

147,840

271,935

296,345

Net Interest Income

284,252

262,023

266,042

264,198

254,921

546,275

506,107

Provision for credit losses

4,897

14,442

2,948

10,245

8,607

19,339

22,505

Net Interest Income after Provision

279,355

247,581

263,094

253,953

246,314

526,936

483,602

Non-Interest Income:

Wealth management

23,139

24,496

23,879

22,639

22,281

47,635

44,066

Commercial banking:

Merchant and card

7,496

6,343

6,847

7,327

7,376

13,839

13,967

Cash management

8,817

8,363

8,374

8,335

8,376

17,180

16,175

Capital markets

3,530

3,614

3,730

2,908

2,945

7,144

5,356

Other commercial banking

4,979

4,486

5,162

4,595

4,734

9,465

9,262

Total commercial banking

24,822

22,806

24,113

23,165

23,431

47,628

44,760

Consumer banking:

Card

8,596

7,887

8,366

8,246

7,958

16,483

15,502

Overdraft

3,858

3,798

4,109

4,153

3,817

7,656

7,112

Other consumer banking

2,891

2,491

2,967

2,775

2,753

5,382

4,982

Total consumer banking

15,345

14,176

15,442

15,174

14,528

29,521

27,596

Mortgage banking

4,938

3,955

3,636

3,711

3,991

8,893

7,130

Other

11,062

4,408

2,910

5,718

4,917

15,470

12,830

Non-interest income before investment securities (losses) gains

79,306

69,841

69,980

70,407

69,148

149,147

136,382

Investment securities (losses) gains, net

—

(2)

Total Non-Interest Income

79,306

69,841

69,980

70,407

69,148

149,147

136,380

Non-Interest Expense:

Salaries and employee benefits

120,184

109,917

121,632

111,265

107,123

230,101

210,649

Data processing and software

20,419

18,662

19,695

18,535

18,262

39,081

36,861

Net occupancy

17,841

18,229

17,554

15,954

16,410

36,070

34,617

Other outside services

14,999

12,750

13,105

12,951

12,009

27,749

23,846

Intangible amortization

5,910

5,349

5,365

5,368

5,460

11,260

11,729

FDIC insurance

4,430

4,249

4,540

5,089

4,951

8,679

10,549

Equipment

4,086

3,924

4,001

3,926

4,100

8,010

8,249

Marketing

2,818

2,331

1,694

2,470

2,604

5,149

5,124

Professional fees

2,342

2,239

2,088

2,320

2,163

4,581

1,085

Acquisition-related expenses

13,839

2,644

802

—

16,483

380

Other

24,086

20,000

22,510

18,696

19,729

44,085

39,181

Total Non-Interest Expense

230,954

200,294

212,986

196,574

192,811

431,248

382,270

Income Before Income Taxes

127,707

117,128

120,088

127,786

122,651

244,835

237,712

Income tax expense

25,293

22,367

21,118

27,332

23,453

47,660

45,527

Net Income

102,414

94,761

98,970

100,454

99,198

197,175

192,185

Preferred stock dividends

(2,562)

(5,124)

Net Income Available to Common Shareholders

$ 99,852

$ 92,199

$ 96,408

$ 97,892

$ 96,636

$ 192,051

$ 187,061

Three months ended

Six months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

2026

2025

PER SHARE:

Net income available to common shareholders:

Net income available to common shareholders (basic)

$0.52

$0.51

$0.53

$0.54

$0.53

$1.03

Net income available to common shareholders (diluted)

$0.52

$0.51

$0.53

$1.02

Cash dividends

$0.19

$0.18

$0.38

$0.36

Weighted average shares (basic)

191,386

179,720

180,405

181,658

182,261

185,585

182,220

Weighted average shares (diluted)

192,997

181,655

182,197

183,349

183,813

187,377

183,999

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)

(dollars in thousands)

Three months ended

June 30, 2026

March 31, 2026

June 30, 2025

Average

Yield/

Average

Yield/

Average

Yield/

Balance

Interest(1)

Rate

Balance

Interest(1)

Rate

Balance

Interest(1)

Rate

ASSETS

Interest-earning assets:

Net loans(2)

$ 25,883,823

$ 374,426

5.80 %

$ 24,225,655

$ 341,843

5.70 %

$ 23,899,742

$ 349,490

5.86 %

Investment securities(3)

5,233,693

47,661

3.64 %

5,001,079

44,771

3.58 %

5,390,953

49,463

3.67 %

Other interest-earning assets

997,586

10,377

4.17 %

773,171

7,745

4.05 %

682,075

8,197

4.82 %

Total Interest-Earning Assets

32,115,102

432,464

5.40 %

29,999,905

394,359

5.31 %

29,972,770

407,150

5.44 %

Noninterest-earning assets:

Cash and due from banks

310,904

300,074

277,880

Premises and equipment

189,791

173,203

186,989

Other assets

1,978,494

1,896,687

1,848,891

Less: ACL - loans(4)

(400,683)

(370,641)

(384,956)

Total Assets

$ 34,193,608

$ 31,999,228

$ 31,901,574

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-bearing liabilities:

Demand deposits

$ 8,279,932

$ 32,443

1.57 %

$ 7,774,121

$ 29,036

1.51 %

$ 7,800,881

$ 34,745

1.79 %

Savings deposits

9,128,400

47,299

2.08 %

8,684,478

44,663

2.09 %

8,219,637

47,462

2.32 %

Brokered deposits

887,546

8,589

3.88 %

856,823

8,210

3.89 %

688,957

7,495

4.36 %

Time deposits

4,540,334

38,406

3.39 %

4,015,644

33,896

3.42 %

4,112,130

39,492

3.85 %

Total Interest-Bearing Deposits

22,836,212

126,737

2.23 %

21,331,066

115,805

2.20 %

20,821,605

129,194

2.49 %

Borrowings and other interest-bearing liabilities

1,744,871

17,165

3.95 %

1,359,113

12,228

3.65 %

1,756,246

18,646

4.26 %

Total Interest-Bearing Liabilities

24,581,083

143,902

2.35 %

22,690,179

128,033

2.29 %

22,577,851

147,840

2.62 %

Noninterest-bearing liabilities:

Demand deposits

5,178,454

5,120,028

5,303,997

Other liabilities

645,650

645,110

715,711

Total Liabilities

30,405,187

28,455,317

28,597,559

Total Deposits

28,014,666

1.81 %

26,451,094

1.78 %

26,125,602

1.98 %

Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)

29,759,537

1.94 %

27,810,207

1.87 %

27,881,848

2.13 %

Shareholders' equity

3,788,421

3,543,911

3,304,015

Total Liabilities and Shareholders' Equity

$ 34,193,608

$ 31,999,228

$ 31,901,574

Net interest income/net interest margin (fully taxable equivalent)

288,562

3.60 %

266,326

3.58 %

259,310

3.47 %

Tax equivalent adjustment

(4,310)

(4,303)

(4,389)

Net Interest Income

$ 284,252

$ 262,023

$ 254,921

(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.

(2) Average balances include non-performing loans.

(3) Average balances include amortized historical cost for AFS securities; the related unrealized holding gains (losses) are included in other assets.

(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.

FULTON FINANCIAL CORPORATION

AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)

(dollars in thousands)

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

Loans, by type:

Real estate - commercial mortgage

$ 10,887,986

$ 9,930,713

$ 9,785,717

$ 9,721,395

$ 9,652,320

Commercial and industrial

4,602,800

4,522,694

4,473,522

4,494,662

4,530,085

Real estate - residential mortgage

7,189,941

6,696,646

6,646,318

6,560,413

6,448,443

Real estate - home equity

1,298,632

1,235,977

1,223,293

1,191,465

1,179,109

Real estate - construction

962,625

926,026

1,014,343

1,125,130

1,172,138

Consumer

592,106

576,852

577,136

590,658

599,505

Leases and other loans(1)

349,733

336,747

332,760

336,599

318,142

Total Net Loans

$ 25,883,823

$ 24,225,655

$ 24,053,089

$ 24,020,322

$ 23,899,742

Deposits, by type:

Noninterest-bearing demand

$ 5,178,454

$ 5,120,028

$ 5,243,390

$ 5,239,393

$ 5,303,997

Interest-bearing demand

8,279,932

7,774,121

7,984,980

7,876,227

7,800,881

Savings

9,128,400

8,684,478

8,519,075

8,391,379

8,219,637

Total demand and savings

22,586,786

21,578,627

21,747,445

21,506,999

21,324,515

Brokered

887,546

856,823

803,755

694,486

688,957

Time

4,540,334

4,015,644

3,986,459

4,097,195

4,112,130

Total Deposits

$ 28,014,666

$ 26,451,094

$ 26,537,659

$ 26,298,680

$ 26,125,602

Borrowings, by type:

Federal funds purchased

$ —

$ 54

$ —

$ 1,099

Federal Home Loan Bank advances

475,983

221,039

237,880

484,022

712,198

Senior debt and subordinated debt

509,493

367,679

367,598

367,517

367,438

Other borrowings and other interest-bearing liabilities

759,395

770,395

740,305

713,456

675,511

Total Borrowings

$ 1,744,871

$ 1,359,113

$ 1,345,837

$ 1,564,995

$ 1,756,246

(1) Includes equipment lease financing, overdraft and net origination fees and costs.

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)

(dollars in thousands)

Six months ended June 30,

2026

2025

Average

Yield/

Average

Yield/

Balance

Interest(1)

Rate

Balance

Interest(1)

Rate

ASSETS

Interest-earning assets:

Net loans(2)

$ 25,059,319

$ 716,268

5.75 %

$ 23,953,003

$ 697,115

5.86 %

Investment securities(3)

5,118,030

92,432

3.61 %

5,295,507

96,706

3.65 %

Other interest-earning assets

885,999

18,122

4.12 %

737,302

17,361

4.74 %

Total Interest-Earning Assets

31,063,348

826,822

5.35 %

29,985,812

811,182

5.44 %

Noninterest-Earning assets:

Cash and due from banks

305,519

289,822

Premises and equipment

181,545

189,108

Other assets

1,937,815

1,856,900

Less: ACL - loans(4)

(385,745)

(385,241)

Total Assets

$ 33,102,482

$ 31,936,401

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-Bearing liabilities:

Demand deposits

$ 8,028,425

$ 61,480

1.54 %

$ 7,777,364

$ 68,934

1.79 %

Savings deposits

8,907,666

91,961

2.08 %

8,134,377

92,563

2.29 %

Brokered deposits

872,269

16,798

3.88 %

796,243

17,533

4.44 %

Time deposits

4,279,437

72,304

3.41 %

4,081,913

81,055

4.00 %

Total Interest-Bearing Deposits

22,087,797

242,543

2.21 %

20,789,897

260,085

2.52 %

Borrowings and other interest-bearing liabilities

1,553,057

29,392

3.82 %

1,755,577

36,260

4.17 %

Total Interest-Bearing Liabilities

23,640,854

271,935

2.32 %

22,545,474

296,345

2.65 %

Noninterest-Bearing liabilities:

Demand deposits

5,149,402

5,357,731

Other liabilities

645,385

753,988

Total Liabilities

29,435,641

28,657,193

Total Deposits

27,237,199

1.80 %

26,147,628

2.01 %

Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)

28,790,256

1.90 %

27,903,205

2.14 %

Shareholders' equity

3,666,841

3,279,208

Total Liabilities and Shareholders' Equity

$ 33,102,482

$ 31,936,401

Net interest income/net interest margin (fully taxable equivalent)

554,887

3.59 %

514,837

3.45 %

Tax equivalent adjustment

(8,612)

(8,730)

Net Interest Income

$ 546,275

$ 506,107

(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.

(2) Average balances include non-performing loans.

(3) Average balances include amortized historical cost for AFS; the related unrealized holding gains (losses) are included in other assets.

(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.

FULTON FINANCIAL CORPORATION

AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)

(dollars in thousands)

Six months ended June 30,

2026

2025

Loans, by type:

Real estate - commercial mortgage

$ 10,403,830

$ 9,653,793

Commercial and industrial

4,571,311

4,569,027

Real estate - residential mortgage

6,944,657

6,408,432

Real estate - home equity

1,267,478

1,169,961

Real estate - construction

944,248

1,233,770

Consumer

584,521

607,578

Leases and other loans(1)

343,274

310,442

Total Net Loans

$ 25,059,319

$ 23,953,003

Deposits, by type:

Noninterest-bearing demand

$ 5,149,402

$ 5,357,731

Interest-bearing demand

8,028,425

7,777,364

Savings

8,907,666

8,134,377

Total demand and savings

22,085,493

21,269,472

Brokered

872,269

796,243

Time

4,279,437

4,081,913

Total Deposits

$ 27,237,199

$ 26,147,628

Borrowings, by type:

Federal funds purchased

$ —

$ 552

Federal Home Loan Bank advances

349,215

710,790

Senior debt and subordinated debt

438,978

367,398

Other borrowings and other interest-bearing liabilities

764,865

676,837

Total Borrowings

$ 1,553,058

$ 1,755,577

(1) Includes equipment lease financing, overdraft and net origination fees and costs.

FULTON FINANCIAL CORPORATION

ASSET QUALITY INFORMATION (UNAUDITED)

(dollars in thousands)

Three months ended

Six months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

2026

2025

Allowance for credit losses related to net loans:

Balance at beginning of period

$ 367,489

$ 364,462

$ 376,258

$ 377,337

$ 379,677

$ 364,462

$ 379,156

Initial allowance for credit losses on purchased loans

30,993

3,351

—

34,344

—

Loans charged off:

Real estate - commercial mortgage

(10,789)

(4,102)

(14,104)

(3,906)

(6,402)

(14,891)

(18,508)

Commercial and industrial

(12,015)

(10,545)

(5,295)

(5,847)

(5,780)

(22,560)

(9,645)

Real estate - residential mortgage

(121)

(391)

(58)

(394)

(258)

(512)

(601)

Consumer and home equity

(2,119)

(2,164)

(2,212)

(2,527)

(1,885)

(4,284)

(4,078)

Real estate - construction

—

(5,286)

(100)

—

(100)

Leases and other loans(1)

(966)

(1,116)

(1,140)

(1,479)

(1,491)

(2,081)

(3,018)

Total loans charged off

(26,010)

(18,318)

(22,809)

(19,439)

(15,916)

(44,328)

(35,950)

Recoveries of loans previously charged off:

Real estate - commercial mortgage

1,629

701

633

4,307

133

2,330

507

Commercial and industrial

1,280

740

6,592

3,205

2,628

2,020

8,580

Real estate - residential mortgage

197

230

203

268

377

Consumer and home equity

484

584

861

726

899

1,068

1,559

Real estate - construction

—

884

—

884

181

Leases and other loans(1)

404

429

146

192

240

834

441

Total recoveries of loans previously charged off

3,994

3,410

8,462

8,510

4,202

7,404

11,645

Net loans charged off

(22,016)

(14,908)

(14,347)

(10,929)

(11,714)

(36,924)

(24,305)

Provision for credit losses(2)

6,308

14,584

2,551

9,850

9,374

20,892

22,486

Other

(194)

—

(194)

—

Balance at end of period

$ 382,580

$ 367,489

$ 364,462

$ 376,258

$ 377,337

$ 382,580

$ 377,337

Net charge-offs to average loans(3)

0.34 %

0.25 %

0.24 %

0.18 %

0.20 %

0.30 %

0.20 %

Provision for credit losses related to OBS Credit Exposures

Provision for credit losses(2)

$ (1,411)

$ (142)

$ 397

$ 395

$ (767)

$ (1,553)

$ 19

NON-PERFORMING ASSETS:

Non-accrual loans

$ 146,457

$ 142,035

$ 153,872

$ 150,137

$ 182,942

Loans 90 days past due and accruing

34,815

33,816

29,924

48,597

29,949

Total non-performing loans

181,272

175,851

183,796

198,734

212,891

Other real estate owned

5,791

1,648

1,365

2,305

2,706

Total non-performing assets

$ 187,063

$ 177,499

$ 185,161

$ 201,039

$ 215,597

NON-PERFORMING LOANS, BY TYPE:

Commercial and industrial

$ 39,466

$ 47,759

$ 47,756

$ 48,817

$ 45,565

Real estate - commercial mortgage

66,445

64,890

74,981

87,789

90,852

Real estate - residential mortgage

56,821

47,826

45,569

44,689

37,703

Consumer and home equity

12,387

12,339

11,875

12,658

11,109

Real estate - construction

6,135

3,000

2,267

3,461

25,602

Leases and other loans(2)

1,348

1,320

2,060

Total non-performing loans

$ 181,272

$ 175,851

$ 183,796

$ 198,734

$ 212,891

(1) Includes equipment lease financing, overdrafts and net origination fees and costs.

(2) The sum of these amounts are reflected in the provision for credit losses in the Condensed Consolidated Statements of Income.

(3) Quarterly results are annualized.

FULTON FINANCIAL CORPORATION

RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)

(dollars in thousands, except per share and share data)

Explanatory note:

This press release contains supplemental financial information, as detailed below, that has been derived by methods other than GAAP. The Corporation has presented these non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Management believes that these non-GAAP financial measures, in addition to GAAP measures, are also useful to investors to evaluate the Corporation's results. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure follow:

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

Operating net income available to common shareholders

Net income available to common shareholders

$ 99,852

$ 92,199

$ 96,408

$ 97,892

$ 96,636

Less: Other (1)

—

(4,989)

(738)

(9)

Plus: Core deposit intangible amortization

5,816

5,255

5,346

Plus: Acquisition-related expense

13,839

2,644

802

—

Plus: FDIC special assessment

—

(95)

—

Plus: FultonFirst implementation and asset disposals

(189)

1,556

2,795

(207)

(270)

Plus: Debt extinguishment costs

787

—

Less: Tax impact of adjustments

(4,253)

(1,985)

(791)

(905)

(1,064)

Operating net income available to common shareholders (numerator)

$ 115,852

$ 99,669

$ 99,385

$ 101,297

$ 100,639

Weighted average shares (diluted) (denominator)

192,997

181,655

182,197

183,349

183,813

Operating net income available to common shareholders, per share (diluted)

$ 0.60

$ 0.55

Common shareholders' equity (tangible), per share

Shareholders' equity

$ 3,815,813

$ 3,505,283

$ 3,490,447

$ 3,413,598

$ 3,329,246

Less: Preferred stock

(192,878)

Less: Goodwill and intangible assets

(633,485)

(607,647)

(612,996)

(618,361)

(623,729)

Tangible common shareholders' equity (numerator)

$ 2,989,450

$ 2,704,758

$ 2,684,573

$ 2,602,359

$ 2,512,639

Shares outstanding, end of period (denominator)

191,461

178,843

179,895

180,865

182,379

Common shareholders' equity (tangible), per share

$ 15.61

$ 15.12

$ 14.92

$ 14.39

$ 13.78

(1) Includes loan recovery adjustments of $5.0 million and $0.6 million in the fourth quarter of 2025 and the third quarter of 2025, respectively, reflected in the provision for credit losses related to a loan acquired in the Republic Transaction.

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

Operating return on average assets

Net income

$ 102,414

$ 94,761

$ 98,970

$ 100,454

$ 99,198

Less: Other (1)

—

(4,989)

(738)

(9)

Plus: Core deposit intangible amortization

5,816

5,255

5,346

Plus: Acquisition-related expense

13,839

2,644

802

—

Plus: FDIC special assessment

—

(95)

—

Plus: FultonFirst implementation and asset disposals

(189)

1,556

2,795

(207)

(270)

Plus: Debt extinguishment costs

787

—

Less: Tax impact of adjustments

(4,253)

(1,985)

(791)

(905)

(1,064)

Operating net income (numerator)

$ 118,414

$ 102,231

$ 101,947

$ 103,859

$ 103,201

Total average assets

$ 34,193,608

$ 31,999,228

$ 32,013,163

$ 31,924,038

$ 31,901,574

Less: Average net core deposit intangible

(66,665)

(54,629)

(60,726)

(65,999)

(71,282)

Total operating average assets (denominator)

$ 34,126,943

$ 31,944,599

$ 31,952,437

$ 31,858,039

$ 31,830,292

Operating return on average assets(2)

1.39 %

1.30 %

1.27 %

1.29 %

1.30 %

Operating return on average common shareholders' equity (tangible)

Net income available to common shareholders

$ 99,852

$ 92,199

$ 96,408

$ 97,892

$ 96,636

Less: Other (1)

—

(4,989)

(738)

(9)

Plus: Intangible amortization

5,910

5,349

5,365

5,368

5,460

Plus: Acquisition-related expense

13,839

2,644

802

—

Plus: FDIC special assessment

—

(95)

—

Plus: FultonFirst implementation and asset disposals

(189)

1,556

2,795

(207)

(270)

Plus: Debt extinguishment costs

787

—

Less: Tax impact of adjustments

(4,273)

(2,005)

(814)

(929)

(1,088)

Adjusted net income available to common shareholders (numerator)

$ 115,926

$ 99,743

$ 99,472

$ 101,386

$ 100,729

Average shareholders' equity

$ 3,788,421

$ 3,543,911

$ 3,464,539

$ 3,361,368

$ 3,304,015

Less: Average preferred stock

(192,878)

Less: Average goodwill and intangible assets

(635,278)

(610,262)

(615,600)

(620,986)

(626,383)

Average tangible common shareholders' equity (denominator)

$ 2,960,265

$ 2,740,771

$ 2,656,061

$ 2,547,504

$ 2,484,754

Operating return on average common shareholders' equity (tangible)(2)

15.71 %

14.76 %

14.86 %

15.79 %

16.26 %

Tangible common equity to tangible assets (TCE Ratio)

Shareholders' equity

$ 3,815,813

$ 3,505,283

$ 3,490,447

$ 3,413,598

$ 3,329,246

Less: Preferred stock

(192,878)

Less: Goodwill and intangible assets

(633,485)

(607,647)

(612,996)

(618,361)

(623,729)

Tangible common shareholders' equity (numerator)

$ 2,989,450

$ 2,704,758

$ 2,684,573

$ 2,602,359

$ 2,512,639

Total assets

$ 34,556,720

$ 32,237,438

$ 32,118,400

$ 31,995,086

$ 32,040,448

Less: Goodwill and intangible assets

(633,485)

(607,647)

(612,996)

(618,361)

(623,729)

Total tangible assets (denominator)

$ 33,923,235

$ 31,629,791

$ 31,505,404

$ 31,376,725

$ 31,416,719

Tangible common equity to tangible assets

8.81 %

8.55 %

8.52 %

8.29 %

8.00 %

(2) Results are annualized.

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2025

Efficiency ratio

Non-interest expense

$ 230,954

$ 200,294

$ 212,986

$ 196,574

$ 192,811

Less: Acquisition-related expense

(13,839)

(2,644)

(802)

—

Less: FDIC special assessment

—

Less: FultonFirst implementation and asset disposals

189

(1,556)

(2,795)

207

270

Less: Debt extinguishment costs

(787)

—

Less: Intangible amortization

(5,910)

(5,349)

(5,365)

(5,368)

(5,460)

Operating non-interest expense (numerator)

$ 210,607

$ 190,745

$ 204,119

$ 191,413

$ 187,621

Net interest income

$ 284,252

$ 262,023

$ 266,042

$ 264,198

$ 254,921

Tax equivalent adjustment

4,310

4,303

4,416

4,436

4,389

Plus: Total non-interest income

79,306

69,841

69,980

70,407

69,148

Less: Other revenue

—

(138)

(9)

Plus: Investment securities (gains) losses, net

—

Total revenue (denominator)

$ 367,868

$ 336,167

$ 340,449

$ 338,903

$ 328,449

Efficiency ratio

57.3 %

56.7 %

60.0 %

56.5 %

57.1 %

Operating non-interest expense to total average assets

Non-interest expense

$ 230,954

$ 200,294

$ 212,986

$ 196,574

$ 192,811

Less: Intangible amortization

(5,910)

(5,349)

(5,365)

(5,368)

(5,460)

Less: Acquisition-related expense

(13,839)

(2,644)

(802)

—

Less: FDIC special assessment

—

Less: FultonFirst implementation and asset disposals

189

(1,556)

(2,795)

207

270

Less: Debt extinguishment costs

(787)

—

Operating non-interest expense (numerator)

$ 210,607

$ 190,745

$ 204,119

$ 191,413

$ 187,621

Total average assets (denominator)

$ 34,193,608

$ 31,999,228

$ 32,013,163

$ 31,924,038

$ 31,901,574

Operating non-interest expenses to total average assets(1)

2.47 %

2.42 %

2.53 %

2.38 %

2.36 %

(1) Results are annualized.

Six months ended

Jun 30

2026

2025

Operating net income available to common shareholders

Net income available to common shareholders

$ 192,051

$ 187,061

Less: Other

—

(131)

Plus: Core deposit intangible amortization

11,070

11,501

Plus: Acquisition-related expense

16,483

380

Plus: FultonFirst implementation and asset disposals

1,367

(317)

Plus: Debt extinguishment costs

787

—

Less: Tax impact of adjustments

(6,238)

(2,401)

Operating net income available to common shareholders (numerator)

$ 215,520

$ 196,093

Weighted average shares (diluted) (denominator)

187,377

183,999

Operating net income available to common shareholders, per share (diluted)

$ 1.15

$ 1.07

SOURCE Fulton Financial Corporation