Fulton Financial (FULT) investor relations material

Executive summary

• Operating net income available to common shareholders was $115.9 million ($0.60 per diluted share) in Q2 2026, up from $0.55 in Q1, while net income available to common shareholders was $99.9 million ($0.52 per diluted share).

• Achieved record operating earnings and strong balance sheet growth, driven by disciplined execution, the Blue Foundry acquisition, and robust fee income.

• Completed the Blue Foundry acquisition on April 1, 2026, adding $2.1 billion in assets and $1.6 billion in loans, with integration finalized July 11.

• Maintained solid asset quality and increased capital levels, positioning for continued growth.

• Issued $300 million in subordinated notes and redeemed $195 million of 2030 notes.

Financial highlights

• Net interest income was $284.3 million in Q2 2026, up $22.2 million sequentially and $29.3 million year-over-year, with $17.5 million from Blue Foundry.

• Net interest margin was 3.60%, up 2 bps from Q1 and 13 bps year-over-year.

• Non-interest income increased to $79.3 million, up $9.5 million from Q1 and 14.7% year-over-year, driven by equity investment gains and higher mortgage banking and wealth management revenues.

• Non-interest expense rose to $231.0 million, including $13.8 million in acquisition-related costs.

• Net loans grew 7.4% to $25.9 billion since year-end 2025, mainly from the Blue Foundry acquisition.

Outlook and guidance

• Net interest income guidance narrowed to $1.12–$1.135 billion for 2026, with low single-digit organic loan growth plus Blue Foundry.

• Loan loss provision range lowered to $40–$60 million.

• Non-interest income guidance raised to $290–$300 million, and operating non-interest expense expected at $810–$830 million.

• Margin expected to remain stable to slightly higher in the near term, with positive asset repricing tailwinds.

• Management expects continued growth and value creation following the Blue Foundry integration.