LANCASTER, PA — Fulton Financial Corporation (NASDAQ: FULT) reported record third-quarter operating net income of $101.3 million, or $0.55 per diluted share, marking steady earnings growth and strong operating discipline amid a challenging rate environment.
Net income available to common shareholders rose to $97.9 million, up $1.3 million from the previous quarter, driven by higher net interest income and solid non-interest revenue. Fulton’s operating return on average assets held at 1.29%, while tangible common equity rose to 11.5%, reflecting improved capital strength.
Chairman and CEO Curtis J. Myers credited the results to consistent execution of the company’s long-term strategy. “Our continued success is a result of our focus on serving as trusted advisors to our customers and deepening our customer relationships,” Myers said.
The Lancaster-based regional bank reported a net interest margin of 3.57%, aided by loan yields that climbed to 5.93% and a slight decline in deposit costs to 1.96%. Total loans rose modestly to $24.0 billion, supported by growth in consumer lending, while deposits increased to $26.3 billion on seasonal municipal inflows and higher savings balances.
Non-interest income — accounting for just over 20% of total revenue — reached $70.4 million, buoyed by stronger performance in wealth management and consumer banking. Fulton’s wealth management arm now oversees $17.2 billion in assets under management and administration, with recurring income comprising more than 85% of its fee base.
Operating efficiency remained a focal point, with non-interest expenses rising 2% to $196.6 million, primarily due to incentive compensation and technology investments. Fulton’s efficiency ratio improved to 56.5%, underscoring disciplined cost control and technology-driven productivity.
The company’s capital position strengthened, with tangible book value per share rising to $14.39, or $15.65 excluding accumulated other comprehensive income. Fulton repurchased 1.65 million shares in the third quarter for $30.8 million and retains $85.6 million under its current authorization.
Looking ahead, Fulton projects full-year 2025 net interest income between $1.025 billion and $1.035 billion, assuming two modest Federal Reserve rate cuts by year-end. The company also expects stable credit quality, supported by an allowance for credit losses of 1.57% of total loans.
Fulton’s steady results reinforce its reputation as a community bank operating on a regional scale — leveraging digital investments, diversified lending, and disciplined management to deliver consistent shareholder returns.
Additional details and the full investor presentation are available at investor.fultonbank.com.
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