Fulton Financial Corporation (FULT) SEC Filings & Earnings Calls

Net interest margin decreased 2 basis points linked quarter, indicating slight margin pressure.

“Net interest margin remained solid at 3.58%, representing a two basis point decrease from the prior quarter.” · word for word

Non-interest income declined $2.1 million linked quarter due to sale of equity method investment in prior quarter.

“Non-interest income decreased $2.1 million to $77.2 million compared to $79.3 million in the prior quarter. The decrease was primarily attributable to $6.9 million of income recognized from an equity method investment that was sold in the prior quarter.” · word for word

Interest Rate Risk

“The effects of market interest rates, and the relative balances of interest rate-sensitive assets to interest rate-sensitive liabilities, on NIM and net interest income.” · word for word

Credit Risk from Commercial Real Estate

“The composition of the Corporation's loan portfolio, including commercial mortgage loans, commercial and industrial loans and construction loans, which collectively represent a majority of the loan portfolio, may expose the Corporation to increased credit risk.” · word for word

Integration risk from Blue Foundry Bancorp acquisition

“Acquisition-related expenses increased $11.2 million; integration ongoing”

Interest expense on deposits and borrowings increased

“Interest expense on deposits increased $10.9 million and on borrowings $4.9 million QoQ”

Credit loss cycle risk

“Provision for credit losses increased 3.9% YoY, indicating potential credit quality deterioration.”

Interest rate risk

“Unrealized losses on AFS securities increased to $266.6M from $247.9M at year-end, reflecting higher rate sensitivity.”

Acquisition integration risk

“Blue Foundry Merger completed April 1, 2026; integration and cost synergies may not be fully realized.”

Refinancing at higher fixed rate (5.95% vs 3.25%) may increase interest expense, but extends maturity.

“The Notes will bear interest from and including May 5, 2026 to, but excluding, May 15, 2031 at a fixed rate of 5.950% per annum.”

Provision for credit losses increased to $14.4M, with net charge-offs at 0.25% annualized.

“Provision for credit losses was $14.4 million... Annualized net charge-offs... were 0.25%” · word for word

Merger integration risk with Blue Foundry Bancorp.

“Acquisition-related expense associated with the Blue Foundry Bancorp transaction was $2.6 million” · word for word

Key person risk from CEO/Chairman combined role

“The Board determined a combined Chairman and CEO position is appropriate for Fulton.” · word for word

Retirement of President Angela M. Snyder

“Ms. Snyder retired on December 31, 2025.” · word for word

Integration risk; Blue Foundry Bank to operate separately until summer 2026.

“Blue Foundry Bank is expected to operate as a separate, wholly owned subsidiary of Fulton until this summer” · word for word

Credit risk from commercial real estate and construction loans

“the composition of the Corporation's loan portfolio, including commercial mortgage loans, commercial and industrial loans and construction loans, which collectively represent a majority of the loan portfolio, may expose the Corporation to increased credit risk” · word for word

Interest rate risk on investment securities

“investment securities gains and losses, including declines in the fair value of securities which may result in charges to earnings or shareholders' equity” · word for word

Merger integration risk

“risks related to the Merger including, among others, (i) failure to complete the Merger or unexpected delays related to the Merger, (ii) diversion of management’s attention from ongoing business operations and opportunities, (iii) cost savings and any revenue or expense synergies from the Merger may not be fully realized or may take longer than anticipated t” · word for word

Cybersecurity risk

“the Corporation's failure to identify and adequately and promptly address cybersecurity risks, including data breaches and cyberattacks” · word for word

Regulatory compliance cost

“the effects of the extensive level of regulation and supervision to which the Corporation and Fulton Bank are subject” · word for word

Integration risk post-merger

“Merger expected to close April 1, 2026; systems conversion pending.”

Expense growth: non-interest expense increased $16.4M QoQ driven by higher incentive compensation, healthcare, and severance costs.

“Non-interest expense was $213.0 million compared to $196.6 million in the prior quarter. The $16.4 million increase ... largely due to increases of $7.5 million in incentive compensation expense” · word for word

Credit quality: annualized net charge-offs increased to 0.24% from 0.18% prior quarter, indicating slight deterioration.

“Annualized net charge-offs for the fourth quarter of 2025 were 0.24% of total average loans in comparison to 0.18% in the prior quarter” · word for word

Leadership transition may cause short-term uncertainty, but consulting agreement mitigates risk.

“Retirement of President and appointment of CEO as President.”

Integration risk and regulatory approval uncertainty.

“Merger subject to Blue Foundry stockholder approval and regulatory consents; no financial terms disclosed.”

Integration risk and regulatory approval required; transaction expected to close in Q2 2026.

“The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions, including regulatory approvals and approval by Blue Foundry's stockholders.” · word for word

Credit Quality Risk

“Provision for credit losses $10,245 (Q3 2025) vs $11,929 (Q3 2024)”

Interest Rate Risk

“the effects of market interest rates, and the relative balances of interest rate-sensitive assets to interest rate-sensitive liabilities, on NIM and net interest income” · word for word