NASDAQ : FULT
Fulton Financial Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 23.68 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.48B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 1.44B | 1.40B | 1.39B | 1.16B | 758.61M | 638.60M |
| Interest Income on Investments | 220.88M | 220.88M | 187.23M | 116.86M | 106.23M | 84.82M |
| Total Interest Income | 1.66B | 1.62B | 1.58B | 1.27B | 864.84M | 723.41M |
| Interest Paid on Deposits | 494.35M | 514.69M | 521.86M | 292.20M | 43.83M | 30.00M |
| Interest Paid on Borrowings | 65.83M | 65.83M | 100.01M | 126.75M | 39.38M | 29.68M |
| Total Interest Expense | 560.18M | 580.53M | 621.87M | 418.95M | 83.20M | 59.68M |
| Net Interest Income | 1.10B | 1.04B | 960.33M | 854.29M | 781.63M | 663.73M |
| Trust Income | 96.77M | 90.58M | 84.74M | 75.54M | 72.84M | 71.80M |
| Mortgage Banking Activities | 17.64M | 14.48M | 13.94M | 10.39M | 13.60M | 23.68M |
| Gain (Loss) on Sale of Assets | 20.27M | |||||
| Gain (Loss) on Sale of Investments | 6.90M | -2.00K | -20.28M | -733.00K | -27.00K | 33.52M |
| Other Non-Interest Income | 175.04M | 171.71M | 160.33M | 142.48M | 140.11M | 134.85M |
| Total Non-Interest Income | 296.35M | 276.77M | 259.00M | 227.68M | 226.53M | 263.85M |
| Revenues Before Loan Losses | 1.40B | 1.31B | 1.22B | 1.08B | 1.01B | 927.58M |
| Provision for Loan Losses | 26.35M | 35.70M | 71.64M | 54.04M | 28.02M | -14.60M |
| Revenue | 1.37B | 1.28B | 1.15B | 1.03B | 980.14M | 942.17M |
| Salaries and Employee Benefits | 463.81M | 429.86M | 421.91M | 366.15M | 341.80M | 319.87M |
| Occupancy Expenses | 41.37M | 37.16M | 39.54M | 36.60M | 36.38M | 36.93M |
| Federal Deposit Insurance | 17.78M | 20.27M | 22.89M | 19.07M | 12.55M | 10.66M |
| Amortization of Goodwill & Intangibles | 22.19M | 22.46M | 17.83M | 2.94M | 1.73M | 589.00K |
| Selling, General & Administrative | 216.77M | 200.60M | 216.86M | 178.67M | 162.35M | 145.50M |
| Other Non-Interest Expense | 81.90M | 80.39M | 82.45M | 69.28M | 68.59M | 71.03M |
| Total Non-Interest Expense | 843.82M | 790.74M | 801.48M | 672.71M | 623.40M | 584.58M |
| EBT Excluding Unusual Items | 528.54M | 486.67M | 346.21M | 355.21M | 356.74M | 357.59M |
| Asset Writedown | 600.00K | 9.90M | ||||
| Other Unusual Items | 95.00K | 95.00K | -940.00K | -6.49M | -33.25M | |
| Pretax Income | 509.61M | 485.59M | 344.63M | 348.72M | 347.01M | 334.25M |
| Income Tax Expense | 96.81M | 93.98M | 55.89M | 64.44M | 60.03M | 58.75M |
| Net Income | 412.80M | 391.61M | 288.74M | 284.28M | 286.98M | 275.50M |
| Preferred Dividends & Other Adjustments | 10.25M | 10.25M | 10.25M | 10.25M | 10.25M | 10.28M |
| Net Income to Common | 402.56M | 381.36M | 278.50M | 274.03M | 276.73M | 265.22M |
| Basic Shares Outstanding | 185.57M | 181.62M | 175.52M | 165.24M | 164.12M | 162.23M |
| Diluted Shares Outstanding | 187.23M | 183.29M | 177.22M | 166.77M | 165.47M | 163.31M |
| EPS (Basic) | 2.17 | 2.10 | 1.59 | 1.66 | 1.69 | 1.63 |
| EPS (Diluted) | 2.15 | 2.08 | 1.57 | 1.64 | 1.67 | 1.62 |
| Dividend Per Share | 0.76 | 0.73 | 0.69 | 0.64 | 0.60 | 0.56 |
| Effective Tax Rate | 19.00% | 19.35% | 16.22% | 18.48% | 17.30% | 17.58% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 272.67M | 1.03B | 1.06B | 532.31M | 668.02M | 1.44B |
| Investment Securities | 969.29M | 1.30B | 1.36B | 1.76B | 1.97B | 1.98B |
| Trading Asset Securities | 129.71M | 161.62M | 158.11M | 167.47M | 161.24M | |
| Mortgage-Backed Securities | 5.32B | 3.79B | 3.69B | 2.11B | 2.22B | 2.39B |
| Total Investments | 6.29B | 5.22B | 5.21B | 4.03B | 4.36B | 4.53B |
| Gross Loans | 25.98B | 24.18B | 24.08B | 21.39B | 20.31B | 18.34B |
| Allowance for Loan Losses | -375.63M | -364.46M | -379.16M | -293.40M | -269.37M | -249.00M |
| Other Adjustments to Gross Loans | -36.80M | -35.60M | -38.04M | -29.30M | -17.04M | |
| Net Loans | 25.60B | 23.78B | 23.67B | 21.06B | 20.01B | 18.08B |
| Property, Plant & Equipment | 181.02M | 315.20M | 336.52M | 311.07M | 310.24M | 302.79M |
| Goodwill | 553.35M | 553.35M | 553.35M | 550.54M | 534.27M | |
| Other Intangible Assets | 627.92M | 59.65M | 82.11M | 7.34M | 10.29M | 3.79M |
| Loans Held for Sale | 16.04M | 16.32M | 25.62M | 15.16M | 7.26M | 35.77M |
| Accrued Interest Receivable | 123.66M | 113.70M | 117.03M | 107.97M | 91.58M | 57.45M |
| Restricted Cash | 27.00M | 4.00M | 17.40M | 13.90M | 202.80M | |
| Long-Term Deferred Tax Assets | 126.57M | 147.41M | 140.71M | 164.56M | 43.77M | |
| Other Real Estate Owned & Foreclosed | 5.64M | 1.36M | 2.62M | 896.00K | 5.79M | 1.82M |
| Other Long-Term Assets | 1.66B | 872.31M | 868.21M | 797.62M | 741.66M | 568.73M |
| Total Assets | 34.78B | 32.12B | 32.07B | 27.57B | 26.93B | 25.80B |
| Interest Bearing Deposits | 23.62B | 18.93B | 18.13B | 14.72B | 12.95B | 13.46B |
| Institutional Deposits | 2.40B | 2.50B | 1.50B | 691.40M | 745.50M | |
| Non-Interest Bearing Deposits | 5.20B | 5.26B | 5.50B | 5.31B | 7.01B | 7.37B |
| Total Deposits | 28.82B | 26.59B | 26.13B | 21.54B | 20.65B | 21.57B |
| Short-Term Borrowings | 849.83M | 818.25M | 1.10B | 1.38B | 503.17M | |
| Current Portion of Leases | 27.74M | |||||
| Accrued Interest Payable | 17.13M | 31.62M | 35.08M | 10.19M | 7.00M | |
| Long-Term Debt | 1.23B | 368.55M | 368.22M | 536.22M | 540.81M | 604.85M |
| Federal Home Loan Bank Debt, Long-Term | 250.00M | 850.00M | 1.10B | 1.25B | ||
| Long-Term Leases | 125.52M | 154.18M | 95.23M | 93.88M | 92.86M | |
| Trust Preferred Securities | 16.50M | |||||
| Pension & Post-Retirement Benefits | 638.00K | 753.00K | 844.00K | 972.00K | 1.24M | |
| Other Long-Term Liabilities | 1.03B | 399.14M | 522.04M | 408.84M | 429.11M | 284.60M |
| Total Liabilities | 31.09B | 28.63B | 28.87B | 24.81B | 24.35B | 23.08B |
| Preferred Stock, Redeemable | 192.88M | 192.88M | 192.88M | 192.88M | 192.88M | 192.88M |
| Common Stock | 3.49B | 617.83M | 614.87M | 564.40M | 561.51M | 559.77M |
| Additional Paid-In Capital | 1.80B | 1.79B | 1.55B | 1.54B | 1.52B | |
| Retained Earnings | 2.02B | 1.78B | 1.62B | 1.45B | 1.28B | |
| Treasury Stock | -949.43M | -887.43M | -857.02M | -781.75M | -869.63M | |
| Comprehensive Income & Other | -198.68M | -287.82M | -312.28M | -385.48M | 27.41M | |
| Total Common Equity | 3.49B | 3.30B | 3.00B | 2.57B | 2.39B | 2.52B |
| Shareholders' Equity | 3.69B | 3.49B | 3.20B | 2.76B | 2.58B | 2.71B |
| Total Liabilities & Equity | 34.78B | 32.12B | 32.07B | 27.57B | 26.93B | 25.80B |
| Total Debt | 1.23B | 1.62B | 2.19B | 2.83B | 3.26B | 1.22B |
| Net Cash (Debt) | 9.10M | -457.32M | -969.15M | -2.14B | -2.43B | 379.68M |
| Net Cash Per Share | 0.05 | -2.50 | -5.47 | -12.83 | -14.67 | 2.32 |
| Filing Date Shares Outstanding | 189.28M | 180.01M | 182.20M | 162.02M | 166.96M | 160.52M |
| Total Common Shares Outstanding | 189.28M | 179.90M | 182.09M | 163.80M | 167.60M | 160.49M |
| Book Value Per Share | 18.46 | 18.33 | 16.50 | 15.67 | 14.24 | 15.70 |
| Tangible Book Value | 2.87B | 2.68B | 2.37B | 2.01B | 1.83B | 1.98B |
| Tangible Book Value Per Share | 15.14 | 14.92 | 13.01 | 12.25 | 10.90 | 12.35 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 391.61M | 288.74M | 284.28M | 286.98M | 275.50M | |
| Depreciation & Amortization | 55.29M | 61.66M | 38.09M | 37.77M | 41.36M | |
| Other Amortization | 321.00K | 710.00K | 750.00K | 724.00K | 1.85M | |
| Gain (Loss) on Sale of Assets | 834.00K | -20.30M | ||||
| Gain (Loss) on Sale of Investments | 1.38M | 21.05M | 11.96M | 12.85M | -17.48M | |
| Provision for Credit Losses | 35.70M | 71.64M | 54.04M | 28.02M | -14.60M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 18.09M | -2.27M | -2.80M | 37.32M | 72.50M | |
| Other Operating Activities | -155.53M | 31.75M | -30.78M | 185.94M | -4.75M | |
| Operating Cash Flow | 304.48M | 416.56M | 362.98M | 594.79M | 338.39M | |
| Capital Expenditures | -20.15M | -42.45M | -32.96M | -21.25M | -17.68M | |
| Cash Acquisitions | 1.02B | -21.81M | -1.98M | |||
| Investment in Securities | 6.93M | 725.92M | 316.51M | -16.16M | -790.46M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -101.80M | -149.08M | -1.10B | -1.41B | 561.66M | |
| Other Investing Activities | 32.84M | 76.57M | 8.04M | -69.08M | 38.38M | |
| Investing Cash Flow | -82.18M | 1.63B | -809.22M | -1.54B | -210.09M | |
| Long-Term Debt Issued | 1.63B | |||||
| Total Debt Issued | 1.63B | |||||
| Long-Term Debt Repaid | -484.99M | -2.12B | -384.43M | -81.50M | -923.32M | |
| Total Debt Repaid | -484.99M | -2.12B | -384.43M | -81.50M | -923.32M | |
| Net Debt Issued (Repaid) | -484.99M | -2.12B | -384.43M | 1.55B | -923.32M | |
| Issuance of Common Stock | 7.71M | 270.58M | 3.16M | 7.88M | 7.44M | |
| Repurchase of Common Stock | -66.05M | -30.35M | -77.06M | -43.91M | ||
| Total Dividends Paid | -141.21M | -131.70M | -115.74M | -116.01M | -112.03M | |
| Net Increase (Decrease) in Deposit Accounts | 459.97M | 479.67M | 888.09M | -1.46B | 734.29M | |
| Financing Cash Flow | -224.57M | -1.53B | 314.02M | -15.90M | -337.52M | |
| Net Cash Flow | -2.26M | 514.16M | -132.21M | -956.69M | -209.22M | |
| Free Cash Flow | 284.34M | 374.11M | 330.03M | 573.54M | 320.71M | |
| Free Cash Flow Margin | 22.26% | 32.60% | 32.11% | 58.52% | 34.04% | |
| Free Cash Flow Per Share | 1.55 | 2.11 | 1.98 | 3.47 | 1.96 | |
| Cash Interest Paid | 595.02M | 658.78M | 394.05M | 80.02M | 63.05M | |
| Cash Income Tax Paid | 112.69M | 29.12M | 25.32M | 32.67M | 27.87M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.56B | 3.49B | 3.51B | 2.70B | 2.82B | 2.74B |
| Last Close Price | 24.10 | 18.84 | 18.06 | 14.82 | 14.46 | 14.02 |
| PE Ratio | 11.21 | 9.15 | 12.60 | 9.86 | 10.19 | 10.34 |
| PS Ratio | 3.32 | 2.73 | 3.06 | 2.63 | 2.88 | 2.91 |
| PB Ratio | 1.31 | 1.00 | 1.10 | 0.98 | 1.09 | 1.01 |
| P/FCF Ratio | 11.07 | 12.28 | 9.38 | 8.19 | 4.92 | 8.55 |
| P/OCF Ratio | 10.70 | 11.46 | 8.43 | 7.45 | 4.74 | 8.10 |
| Debt / Equity Ratio | 0.33 | 0.47 | 0.69 | 1.02 | 1.26 | 0.45 |
| Debt / FCF Ratio | 5.70 | 5.86 | 8.57 | 5.69 | 3.80 | |
| Net Debt / Equity Ratio | -0.00 | 0.13 | 0.30 | 0.78 | 0.94 | -0.14 |
| Net Debt / FCF Ratio | 1.61 | 2.59 | 6.48 | 4.23 | -1.18 | |
| Return on Equity (ROE) | 11.63% | 11.71% | 9.69% | 10.65% | 10.85% | 10.34% |
| Return on Assets (ROA) | 1.24% | 1.22% | 0.97% | 1.04% | 1.09% | 1.07% |
| Earnings Yield | 8.92% | 11.22% | 8.23% | 10.52% | 10.18% | 10.05% |
| FCF Yield | 9.04% | 8.14% | 10.66% | 12.21% | 20.35% | 11.70% |
| Dividend Yield | 3.15% | 3.76% | 3.58% | 3.88% | 3.57% | 3.28% |
| Payout Ratio | 35.34% | 36.06% | 45.61% | 40.71% | 40.42% | 40.66% |
| Buyback Yield / Dilution | -1.90% | -3.42% | -6.27% | -0.78% | -1.33% | -0.13% |
| Total Shareholder Return | 1.25% | 0.34% | -2.69% | 3.09% | 2.24% | 3.14% |