Fulton Financial Corporation Q2 2025 Results

Fulton Financial Corporation, headquartered in Lancaster, PA, has released its financial results for the second quarter of 2025. The company reported a notable increase in net income and operating net income, reflecting its robust performance in the community banking sector.

Financial Highlights

For the second quarter of 2025, Fulton Financial Corporation reported net income available to common shareholders of $96.6 million, or $0.53 per diluted share. This represents an increase of $6.2 million, or $0.04 per diluted share, compared to the first quarter of 2025. Operating net income for the same period was $100.6 million, or $0.55 per diluted share, marking an increase of $5.2 million, or $0.03 per diluted share, from the previous quarter.

For the six months ended June 30, 2025, net income available to common shareholders was $187.1 million, or $1.02 per diluted share, an increase of $35.3 million, or $0.13 per diluted share, compared to the same period in 2024. Operating net income for the first half of 2025 was $196.1 million, or $1.07 per diluted share, up by $48.2 million, or $0.20 per diluted share, from the first half of 2024.

Business and Operational Highlights

The company's net interest margin remained solid at 3.47%, with a slight decrease in the total cost of funds compared to the prior quarter. Non-interest income increased by $1.9 million to $69.1 million, while non-interest expense rose by $3.4 million to $192.8 million. The provision for credit losses was $8.6 million, resulting in an allowance for credit losses of $377.3 million, or 1.57% of total net loans as of June 30, 2025.

Net loans increased by $150.0 million, or 2.5% annualized, compared to the prior quarter. However, deposits decreased by $190.9 million, primarily due to reductions in interest-bearing demand deposits, noninterest-bearing demand deposits, and time deposits, partially offset by increases in brokered deposits and savings deposits.

Strategic Initiatives and Corporate Developments

Fulton Financial Corporation's common equity tier 1 capital ratio increased to approximately 11.3% from 11.1% in the prior quarter. The company also highlighted the impact of its acquisition of Republic First Bank in April 2024, which continues to contribute to its financial performance.

Management's Perspective

Curt Myers, Chairman and CEO of Fulton, expressed pride in the company's performance, stating, "I'm proud that our team has delivered a new company record, with operating net income of $100.6 million, or $0.55 per diluted share, this past quarter. Our community banking strategy continues to provide significant value to customers and has once again resulted in strong bottom-line results for the company."

Future Outlook

While the company did not provide specific guidance for the next reporting period, the management's commentary and the financial results indicate a positive outlook for the remainder of the year. The company's focus on community banking and strategic acquisitions is expected to continue driving growth.

SEC Filing: FULTON FINANCIAL CORP [ FULT ] - 8-K - Jul. 15, 2025