Street Calls of the Week
LANCASTER - Fulton Financial Corporation (NASDAQ:FULT) reported third quarter earnings that exceeded analyst expectations, with earnings per share of $0.53, beating the consensus estimate of $0.49. Revenue for the quarter came in at $334.61 million, surpassing the analyst estimate of $332.35 million.
The Pennsylvania-based financial services company posted record operating net income of $101.3 million, or $0.55 per diluted share, representing a slight increase from the second quarter of 2025. Net interest income rose to $264.2 million, a $9.3 million increase from the previous quarter, while non-interest income grew by $1.3 million to $70.4 million.
"We’re proud to announce record operating net income surpassing $101 million, or $0.55 per diluted share, during the third quarter," said Curtis J. Myers, Chairman and CEO of Fulton. "Our continued success is a result of our focus on serving as trusted advisors to our customers and deepening our customer relationships."
The bank maintained a solid net interest margin of 3.57%, while reducing its total cost of funds by four basis points compared to the prior quarter. Total net loans remained relatively flat at $24 billion, with a $115.4 million increase in consumer loans offset by an $86.4 million decrease in commercial loans.
Deposits increased by $194.4 million to $26.3 billion compared to the previous quarter, primarily driven by growth in interest-bearing demand deposits due to seasonal trends in municipal deposits.
Asset quality remained stable with non-performing assets at $201 million, or 0.63% of total assets, down from 0.67% in the second quarter. The allowance for credit losses stood at $376.3 million, representing 1.57% of total net loans, unchanged from the previous quarter.
During the quarter, Fulton repurchased 1.65 million shares of its common stock at an average price of $18.67 per share, with $85.6 million remaining in its repurchase program as of September 30.
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