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0000700564false00007005642025-10-212025-10-210000700564us-gaap:CommonStockMember2025-10-212025-10-210000700564us-gaap:SeriesAPreferredStockMember2025-10-212025-10-21

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

October 21, 2025
Date of Report (date of earliest event reported)

Fulton Financial Corporation
(Exact name of registrant as specified in its charter)
Pennsylvania
 001-39680
23-2195389
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
One Penn Square,
 P.O. Box 4887
Lancaster,
Pennsylvania
17604
               (Address of Principal Executive Offices)
(Zip Code)
(717) 291-2411
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common stock, par value $2.50 FULT The Nasdaq Stock Market, LLC
Depositary Shares, Each Representing 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
 FULTP The Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
o



Item 2.02 Results of Operations and Financial Condition.

    On October 21, 2025, Fulton Financial Corporation (the "Corporation") issued a press release (the "Press Release") announcing its results of operations for the third quarter and nine months ended September 30, 2025. A copy of the Press Release and supplementary financial information which accompanied the Press Release are attached as Exhibit 99.1 to this Current Report on Form 8-K (this "Current Report") and are incorporated herein by reference. The Corporation also posted on its Investor Relations website, www.fultonbank.com, presentation materials the Corporation intends to use during a conference call and webcast to discuss those results on Wednesday, October 22, 2025 at 10:00 a.m. eastern time. A copy of the presentation materials is attached as Exhibit 99.2 to this Current Report and is incorporated herein by reference.    

The information included in Exhibit 99.1 shall be deemed filed for purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and therefore may be incorporated by reference in filings under the Securities Act of 1933, as amended (the "Securities Act"). The information included in Exhibit 99.2 is being furnished and shall not be deemed filed for purposes of the Exchange Act or be incorporated by reference in any filing under the Securities Act.

Forward-Looking Statements

This Current Report, including Exhibits 99.1 and 99.2, may contain forward-looking statements with respect to the Corporation's financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation's future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation's business or financial results. Management’s "2025 Operating Guidance" contained in Exhibit 99.2 to this Current Report is comprised of forward-looking statements.

Forward-looking statements are neither historical facts nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov).








Item 9.01 Financial Statements and Exhibits.
(d)    Exhibits.
Exhibit No. Description
Press release dated October 21, 2025 containing financial information for the third quarter and nine months ended September 30, 2025, deemed filed under the Securities Exchange Act of 1934.
Presentation materials to be discussed during the conference call and webcast on October 22, 2025, deemed furnished under the Securities Exchange Act of 1934.
104 Cover page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 21, 2025
 FULTON FINANCIAL CORPORATION
By: /s/ Richard S. Kraemer
       Richard S. Kraemer
       Senior Executive Vice President and
       Chief Financial Officer


EX-99.1 2 exhibit99193025earningsrel.htm EX-99.1 Document


Exhibit 99.1

FULTON FINANCIAL
CORPORATION
FOR IMMEDIATE RELEASE
Media Contact: Lacey Dean (717) 735-8688
Investor Contact: Matt Jozwiak (717) 327-2657


Fulton Financial Corporation Announces 2025 Third Quarter Results

(October 21, 2025) – Lancaster, PA – Fulton Financial Corporation (NASDAQ: FULT) (“Fulton” or the “Corporation”) reported net income available to common shareholders of $97.9 million, or $0.53 per diluted share, for the third quarter of 2025, an increase of $1.3 million in comparison to the second quarter of 2025. Operating net income available to common shareholders for the three months ended September 30, 2025 was $101.3 million(1), or $0.55 per diluted share(1), an increase of $0.7 million in comparison to the second quarter of 2025.

Net income available to common shareholders for the nine months ended September 30, 2025 was $285.0 million, or $1.55 per diluted share, an increase of $72.5 million, or $0.34 per diluted share, in comparison to the nine months ended September 30, 2024. Operating net income available to common shareholders for the nine months ended September 30, 2025, was $297.4 million(1), or $1.62 per diluted share(1), an increase of $58.2 million, or $0.25 per diluted share, in comparison to the nine months ended September 30, 2024.

"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."

Financial Highlights

Third quarter of 2025 operating results of $0.55 per diluted share were impacted by the following items:

•Solid net interest margin of 3.57%, with a four basis point decrease in total cost of funds compared to the prior quarter.

•Non-interest income increased $1.3 million to $70.4 million compared to $69.1 million in the prior quarter.

•Non-interest expense increased $3.8 million to $196.6 million compared to $192.8 million in the prior quarter. Operating non-interest expense increased $3.8 million to $191.4 million(1) compared to $187.6 million in the prior quarter.




•Provision for credit losses was $10.2 million resulting in an allowance for credit losses attributable to net loans of $376.3 million, or 1.57% of total net loans as of September 30, 2025.

•Common equity tier 1 capital ratio(2) increased to approximately 11.5% compared to 11.3% in the prior quarter.

•During the third quarter of 2025, 1,650,000 shares of the Corporation's common stock were repurchased under the 2025 Repurchase Program(3) at a cost of $30.8 million or an average of $18.67 per share. The value of common stock that may be repurchased under the 2025 Repurchase Program was $85.6 million as of September 30, 2025.

The following items highlight notable changes in the components of net income in the third quarter of 2025 compared to the second quarter of 2025:

•Net interest income totaled $264.2 million, an increase of $9.3 million. An increase of $8.9 million in interest income on net loans and a $2.1 million decrease in interest expense on borrowings and other interest-bearing liabilities was partially offset by a $1.0 million increase in interest expense on deposits and a $0.6 million decrease in interest income on other interest-earning assets. Purchase loan mark accretion from loans acquired in the Acquisition(4) was $12.7 million in the third quarter of 2025 compared to $11.4 million in the prior quarter.

•Non-interest income before investment securities gains (losses) was $70.4 million compared to $69.1 million in the prior quarter. The $1.3 million increase was primarily due to increases of $0.4 million in wealth management revenues, $0.3 million in overdraft fee income and $0.3 million in consumer card income. Other non-interest income increased $0.8 million primarily as a result of a gain on sale of loans of $1.1 million, partially offset by a $0.3 million decrease in income from equity method investments.

•Non-interest expense was $196.6 million compared to $192.8 million in the prior quarter. The $3.8 million increase in non-interest expense was primarily due to a $4.1 million increase in salaries and employee benefits expense largely due to an increase in incentive compensation expense and one additional calendar day in the third quarter of 2025. Included in salaries and employee benefits expense was $0.5 million in employee severance expense.

Balance Sheet Summary

•Total net loans of $24.0 billion as of September 30, 2025 increased nominally in comparison to June 30, 2025. The $29.0 million increase in net loans was due to increases of $115.4 million in consumer loans(5), partially offset by a decrease of $86.4 million in commercial and other loans(5).

2


•Deposits totaled $26.3 billion, an increase of $194.4 million, compared to $26.1 billion as of June 30, 2025. The increase was primarily due to increases of $442.3 million in interest-bearing demand deposits due to seasonal trends in the municipal deposit portfolio, and $145.8 million in savings deposits, partially offset by decreases of $201.6 million in noninterest-bearing demand deposits, $107.7 million in brokered deposits and $84.3 million in time deposits.

Provision for Credit Losses and Asset Quality

•The provision for credit losses was $10.2 million in the third quarter of 2025, resulting in a $376.3 million allowance for credit losses attributable to net loans, or 1.57% of total net loans as of September 30, 2025, compared to $377.3 million, or 1.57% of total net loans as of June 30, 2025.

•Non-performing assets were $201.0 million, or 0.63% of total assets, as of September 30, 2025, in comparison to $215.6 million, or 0.67% of total assets, as of June 30, 2025.

•Annualized net charge-offs for the third quarter of 2025 were 0.18% of total average loans in comparison to 0.20% in the prior quarter.

Additional information on Fulton is available on the Internet at www.fultonbank.com.
(1) Financial measure derived by methods other than generally accepted accounting principles ("GAAP"). Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of the press release.
(2) Regulatory capital ratios as of September 30, 2025, are preliminary estimates and prior periods are actual.

(3) The 2025 Repurchase Program represents the authorization, commencing on January 1, 2025 and expiring on December 31, 2025, to repurchase up to $125 million of the Corporation’s common stock. Under this authorization, up to $25 million of the $125 million authorization may be used to repurchase the Corporation’s preferred stock and outstanding subordinated notes due 2030. As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time under the 2025 Repurchase Program in open market or privately negotiated transactions, including without limitation, through accelerated share repurchase transactions. The 2025 Repurchase Program may be discontinued at any time.

(4) On April 26, 2024, the Corporation announced that its wholly owned banking subsidiary, Fulton Bank, National Association ("Fulton Bank"),
acquired substantially all of the assets and assumed substantially all of the deposits and certain liabilities of Republic First Bank, doing
business as Republic Bank ("Republic Bank"), from the Federal Deposit Insurance Corporation (the "FDIC"), as receiver for Republic Bank (the
"Acquisition"), pursuant to the terms of the Purchase and Assumption Agreement - Whole Bank, All Deposits, effective as of April 26, 2024 among the FDIC, as receiver of Republic Bank, the FDIC and Fulton Bank.

(5) Commercial loans include real estate - commercial mortgage, commercial and industrial, leases and other loans and includes a decrease in commercial construction loans of $27.0 million, reflected in real estate - construction. Consumer loans include real estate - residential mortgage, real estate - home equity, consumer and includes an increase of $6.7 million in residential construction loans, reflected in real estate - construction.

Note: Some numbers contained in this document may not sum due to rounding.


3


Safe Harbor Statement

This press release may contain forward-looking statements with respect to the Corporation’s financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," “projects,” the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation’s future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation’s business or financial results.

Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation’s control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, June 30, 2025 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov).










4


Non-GAAP Financial Measures

The Corporation uses certain financial measures in this press release that have been derived from methods other than GAAP. These non-GAAP financial measures are reconciled to the most comparable GAAP measures in tables at the end of this press release.
FULTON FINANCIAL CORPORATION
SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
(dollars in thousands, except per share and shares data)
Three months ended
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
2025 2025 2025 2024 2024
Ending Balances
Investment securities(1)
 $ 5,045,270 $ 5,093,027 $ 5,071,323 $ 4,806,468 $ 4,545,278
Net loans 24,041,489 24,012,539 23,862,574 24,044,919 24,176,075
Total assets 31,995,086 32,040,448 32,132,028 32,071,810 32,185,726
Deposits 26,332,490 26,138,067 26,328,972 26,129,433 26,152,144
Shareholders' equity 3,413,598 3,329,246 3,274,321 3,197,325 3,203,943
Average Balances
Investment securities(1)
 5,025,072 5,084,371 4,906,952 4,771,537 4,237,805
Net loans 24,020,322 23,899,743 24,006,863 24,068,784 24,147,801
Total assets 31,924,038 31,901,574 31,971,601 32,098,852 31,895,235
Deposits 26,298,680 26,125,602 26,169,883 26,313,378 25,778,259
Shareholders' equity 3,361,368 3,304,015 3,254,125 3,219,026 3,160,322
Income Statement
Net interest income 264,198  254,921  251,187  253,659  258,009 
Provision for credit losses 10,245  8,607  13,898  16,725  11,929 
Non-interest income 70,407  69,148  67,232  65,924  59,673 
Non-interest expense 196,574  192,811  189,460  216,615  226,089 
Income before taxes 127,786  122,651  115,061  86,243  79,664 
Net income available to common shareholders 97,892  96,636  90,425  66,058  60,644 
Per Share
Net income available to common shareholders (basic) $0.54  $0.53  $0.50  $0.36  $0.33 
Net income available to common shareholders (diluted) $0.53  $0.53  $0.49  $0.36  $0.33 
Operating net income available to common shareholders(2)
 $0.55  $0.55  $0.52  $0.48  $0.50 
Cash dividends $0.18  $0.18  $0.18  $0.18  $0.17 
Common shareholders' equity $17.81  $17.20  $16.91  $16.50  $16.55 
Common shareholders' equity (tangible)(2)
 $14.39  $13.78  $13.46  $13.01  $13.02 
Weighted average shares (basic) 181,658  182,261  182,179  182,032  181,905 
Weighted average shares (diluted) 183,349  183,813  184,077  183,867  183,609 
(1) Includes related unrealized holding gains (losses) for available for sale ("AFS") securities.
(2) Non-GAAP financial measure. Refer to the calculation on the page titled “Reconciliation of Non-GAAP Measures” at the end of this press release.
5


Three months ended
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
2025 2025 2025 2024 2024
Asset Quality
Net charge-offs to average loans (annualized) 0.18  % 0.20  % 0.21  % 0.22  % 0.18  %
Non-performing loans to total net loans 0.83  % 0.89  % 0.82  % 0.92  % 0.84  %
Non-performing assets to total assets 0.63  % 0.67  % 0.62  % 0.69  % 0.64  %
ACL - loans(1) to total loans
 1.57  % 1.57  % 1.59  % 1.58  % 1.56  %
ACL - loans(1) to non-performing loans
 189  % 177  % 193  % 172  % 186  %
Profitability
Return on average assets 1.25  % 1.25  % 1.18  % 0.85  % 0.79  %
Operating return on average assets(2)
 1.29  % 1.30  % 1.25  % 1.14  % 1.17  %
Return on average common shareholders' equity 12.26  % 12.46  % 11.98  % 8.68  % 8.13  %
Operating return on average common shareholders' equity (tangible)(2)
 15.79  % 16.26  % 15.95  % 14.83  % 15.65  %
Net interest margin 3.57  % 3.47  % 3.43  % 3.41  % 3.49  %
Efficiency ratio(2)
 56.5  % 57.1  % 56.7  % 58.4  % 59.6  %
Non-interest expense to total average assets 2.44  % 2.42  % 2.40  % 2.68  % 2.82  %
Operating non-interest expense to total average assets(2)
 2.38  % 2.36  % 2.32  % 2.36  % 2.45  %
Capital Ratios(3)
Tangible common equity ratio ("TCE")(2)
 8.3  % 8.0  % 7.8  % 7.5  % 7.5  %
Tier 1 leverage ratio 9.5  % 9.4  % 9.2  % 9.0  % 9.0  %
Common equity Tier 1 capital ratio 11.5  % 11.3  % 11.1  % 10.8  % 10.5  %
Tier 1 risk-based capital ratio 12.3  % 12.1  % 11.9  % 11.5  % 11.3  %
Total risk-based capital ratio 14.9  % 14.7  % 14.5  % 14.3  % 14.0  %
(1) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Net Loans" and does not include the ACL related to off-balance-sheet
    ("OBS") credit exposures.
(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.
(3) Regulatory capital ratios as of September 30, 2025 are preliminary estimates and prior periods are actual.

6

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
(dollars in thousands)
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
2025 2025 2025 2024 2024
ASSETS
Cash and due from banks $ 307,267  $ 362,280  $ 388,503  $ 279,041  $ 296,500 
Other interest-earning assets 643,111  583,899  778,117  924,404  1,287,392 
Loans held for sale 19,875  23,281  15,965  25,618  17,678 
Investment securities 5,045,270  5,093,027  5,071,323  4,806,468  4,545,278 
Net loans 24,041,489  24,012,539  23,862,574  24,044,919  24,176,075 
Less: ACL - loans(1)
 (376,258) (377,337) (379,677) (379,156) (375,961)
   Loans, net 23,665,231  23,635,202  23,482,897  23,665,763  23,800,114 
Net premises and equipment 178,644  184,290  186,873  195,527  171,731 
Accrued interest receivable 114,003  117,130  116,215  117,029  115,903 
Goodwill and intangible assets 618,361  623,729  629,189  635,458  641,739 
Other assets 1,403,324  1,417,610  1,462,946  1,422,502  1,309,391 
    Total Assets $ 31,995,086  $ 32,040,448  $ 32,132,028  $ 32,071,810  $ 32,185,726 
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits $ 26,332,490  $ 26,138,067  $ 26,328,972  $ 26,129,433  $ 26,152,144 
Borrowings 1,471,961  1,773,900  1,657,200  1,782,048  2,052,227 
Other liabilities 777,037  799,235  871,535  963,004  777,412 
    Total Liabilities 28,581,488  28,711,202  28,857,707  28,874,485  28,981,783 
Shareholders' equity 3,413,598  3,329,246  3,274,321  3,197,325  3,203,943 
    Total Liabilities and Shareholders' Equity $ 31,995,086  $ 32,040,448  $ 32,132,028  $ 32,071,810  $ 32,185,726 
LOANS, DEPOSITS AND BORROWINGS DETAIL:
Loans, by type:
Real estate - commercial mortgage $ 9,734,156  $ 9,678,038  $ 9,676,517  $ 9,601,858  $ 9,493,479 
Commercial and industrial 4,437,905  4,541,765  4,531,266  4,605,589  4,914,734 
Real estate - residential mortgage 6,617,017  6,511,687  6,409,657  6,349,643  6,302,624 
Real estate - home equity 1,214,399  1,193,410  1,170,470  1,160,616  1,144,402 
Real estate - construction 1,134,748  1,155,099  1,175,445  1,394,899  1,332,954 
Consumer 566,291  583,949  597,305  616,856  651,717 
Leases and other loans(2)
 336,973  348,591  301,914  315,458  336,165 
Total Net Loans $ 24,041,489  $ 24,012,539  $ 23,862,574  $ 24,044,919  $ 24,176,075 
Deposits, by type:
Noninterest-bearing demand $ 5,136,210  $ 5,337,771  $ 5,435,934  $ 5,499,760  $ 5,501,699 
Interest-bearing demand 8,035,393  7,593,083  7,804,388  7,843,604  7,779,472 
Savings 8,417,678  8,271,925  8,208,526  7,792,114  7,740,595 
     Total demand and savings 21,589,281  21,202,779  21,448,848  21,135,478  21,021,766 
Brokered 709,667  817,398  738,458  843,857  843,473 
Time 4,033,542  4,117,890  4,141,666  4,150,098  4,286,905 
Total Deposits $ 26,332,490  $ 26,138,067  $ 26,328,972  $ 26,129,433  $ 26,152,144 
Borrowings, by type:
Federal Home Loan Bank advances $ 450,000  $ 800,000  $ 750,000  $ 850,000  $ 950,000 
Senior debt and subordinated debt 367,557  367,476  367,396  367,316  535,917 
Other borrowings 654,404  606,424  539,804  564,732  566,310 
Total Borrowings $ 1,471,961  $ 1,773,900  $ 1,657,200  $ 1,782,048  $ 2,052,227 
(1) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.
(2) Includes equipment lease financing, overdraft and net origination fees and costs.
7

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands, except per share and share data)
Three months ended Nine months ended
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30 Sep 30
2025 2025 2025 2024 2024 2025 2024
Net Interest Income:
Interest income $ 411,006  $ 402,761  $ 399,692  $ 414,368  $ 427,656  $ 1,213,458  $ 1,167,828 
Interest expense 146,808  147,840  148,505  160,709  169,647  443,153  461,162 
    Net Interest Income 264,198  254,921  251,187  253,659  258,009  770,305  706,666 
Provision for credit losses 10,245  8,607  13,898  16,725  11,929  32,749  54,910 
    Net Interest Income after Provision 253,953  246,314  237,289  236,934  246,080  737,556  651,756 
Non-Interest Income:
Wealth management 22,639  22,281  21,785  22,002  21,596  66,705  62,741 
Commercial banking:
   Merchant and card 7,327  7,376  6,591  7,082  7,496  21,294  22,103 
   Cash management 8,335  8,376  7,799  7,633  7,201  24,510  20,473 
   Capital markets 2,908  2,945  2,411  2,797  3,311  8,264  8,236 
   Other commercial banking 4,595  4,734  4,528  4,942  4,281  13,857  11,716 
Total commercial banking 23,165  23,431  21,329  22,454  22,289  67,925  62,528 
Consumer banking:
  Card 8,246  7,958  7,544  8,064  7,917  23,748  22,850 
  Overdraft 4,153  3,817  3,295  3,644  3,957  11,265  10,120 
  Other consumer banking 2,775  2,753  2,229  2,601  3,054  7,757  8,226 
Total consumer banking 15,174  14,528  13,068  14,309  14,928  42,770  41,196 
Mortgage banking 3,711  3,991  3,138  3,759  3,142  10,841  10,183 
Gain on acquisition, net of tax —  —  —  (2,689) (7,706) —  39,685 
Other 5,718  4,917  7,914  6,089  5,425  18,547  13,756 
Non-interest income before investment securities gains (losses) 70,407  69,148  67,234  65,924  59,674  206,788  230,089 
Investment securities (losses) gains, net —  —  (2) —  (1) (2) (20,283)
    Total Non-Interest Income 70,407  69,148  67,232  65,924  59,673  206,786  209,806 
Non-Interest Expense:
Salaries and employee benefits 111,265  107,123  103,526  107,886  118,824  321,914  324,935 
Data processing and software 18,535  18,262  18,599  19,550  20,314  55,396  58,332 
Net occupancy 15,954  16,410  18,207  16,417  18,999  50,571  52,942 
Other outside services 12,951  12,009  11,837  14,531  15,839  36,797  46,055 
Intangible amortization 5,368  5,460  6,269  6,282  6,287  17,097  11,548 
FDIC insurance 5,089  4,951  5,597  5,921  5,109  15,638  17,909 
Equipment 3,926  4,100  4,150  4,388  4,860  12,175  13,461 
Marketing 2,470  2,604  2,521  2,695  2,251  7,595  6,263 
Professional fees 2,320  2,163  (1,078) 3,387  2,811  3,405  7,470 
Acquisition-related expenses —  —  380  9,637  14,195  380  27,998 
Other 18,696  19,729  19,452  25,921  16,600  57,877  36,263 
    Total Non-Interest Expense 196,574  192,811  189,460  216,615  226,089  578,845  603,176 
    Income Before Income Taxes 127,786  122,651  115,061  86,243  79,664  365,497  258,386 
Income tax expense 27,332  23,453  22,074  17,623  16,458  72,858  38,264 
    Net Income 100,454  99,198  92,987  68,620  63,206  292,639  220,122 
Preferred stock dividends (2,562) (2,562) (2,562) (2,562) (2,562) (7,686) (7,686)
     Net Income Available to Common Shareholders $ 97,892  $ 96,636  $ 90,425  $ 66,058  $ 60,644  $ 284,953  $ 212,436 
8

Three months ended Nine months ended
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30 Sep 30
2025 2025 2025 2024 2024 2025 2024
PER SHARE:
Net income available to common shareholders (basic) $0.54  $0.53  $0.50  $0.36  $0.33  $1.57  $1.23 
Net income available to common shareholders (diluted) $0.53  $0.53  $0.49  $0.36  $0.33  $1.55  $1.21 
Cash dividends $0.18  $0.18  $0.18  $0.18  $0.17  $0.54  $0.51 
Weighted average shares (basic) 181,658  182,261  182,179  182,032  181,905  182,030  173,337 
Weighted average shares (diluted) 183,349  183,813  184,077  183,867  183,609  183,718  175,033 




9

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
(dollars in thousands)
Three months ended
September 30, 2025 June 30, 2025 September 30, 2024
Average Yield/ Average Yield/ Average Yield/
Balance
Interest(1)
 Rate Balance
Interest(1)
 Rate Balance
Interest(1)
 Rate
ASSETS
Interest-earning assets:
Net loans(2)
 $ 24,020,322  $ 358,443  5.93  % $ 23,899,742  $ 349,490  5.86  % $ 24,147,801  $ 376,160  6.20  %
Investment securities(3)
 5,330,905  49,442  3.70  % 5,390,953  49,463  3.67  % 4,526,885  37,853  3.34  %
Other interest-earning assets 622,832  7,557  4.83  % 682,075  8,197  4.82  % 1,338,592  18,068  5.37  %
Total Interest-Earning Assets 29,974,059  415,442  5.51  % 29,972,770  407,150  5.44  % 30,013,278  432,081  5.74  %
Noninterest-earning assets:
Cash and due from banks 312,578  277,880  306,427 
Premises and equipment 181,116  186,989  181,285 
Other assets 1,837,179  1,848,891  1,772,052 
Less: ACL - loans(4)
 (380,894) (384,956) (377,807)
Total Assets $ 31,924,038  $ 31,901,574  $ 31,895,235 
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
Demand deposits $ 7,876,227  $ 36,369  1.83  % $ 7,800,881  $ 34,745  1.79  % $ 7,668,583  $ 38,768  2.01  %
Savings deposits 8,391,379  48,237  2.28  % 8,219,637  47,462  2.32  % 7,663,599  49,477  2.57  %
Brokered deposits 694,486  7,689  4.39  % 688,957  7,495  4.36  % 842,661  11,344  5.36  %
Time deposits 4,097,195  37,942  3.67  % 4,112,130  39,492  3.85  % 4,107,466  45,735  4.43  %
Total Interest-Bearing Deposits 21,059,287  130,237  2.45  % 20,821,605  129,194  2.49  % 20,282,309  145,324  2.85  %
Borrowings and other interest-bearing liabilities 1,564,996  16,571  4.20  % 1,756,246  18,646  4.26  % 2,229,348  24,324  4.34  %
Total Interest-Bearing Liabilities 22,624,283  146,808  2.57  % 22,577,851  147,840  2.62  % 22,511,657  169,648  3.00  %
Noninterest-bearing liabilities:
Demand deposits 5,239,393  5,303,997  5,495,950 
Other liabilities 698,994  715,711  727,306 
Total Liabilities 28,562,670  28,597,559  28,734,913 
Total Deposits 26,298,680  1.96  % 26,125,602  1.98  % 25,778,259  2.24  %
Total interest-bearing liabilities and non-interest bearing deposits (cost of funds) 27,863,676  2.09  % 27,881,848  2.13  % 28,007,607  2.41  %
Shareholders' equity 3,361,368  3,304,015  3,160,322 
Total Liabilities and Shareholders' Equity $ 31,924,038  $ 31,901,574  $ 31,895,235 
Net interest income/net interest margin (fully taxable equivalent) 268,634  3.57  % 259,310  3.47  % 262,433  3.49  %
Tax equivalent adjustment (4,436) (4,389) (4,424)
Net Interest Income $ 264,198  $ 254,921  $ 258,009 
(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
(2) Average balances include non-performing loans.
(3) Average balances include amortized historical cost for AFS securities; the related unrealized holding gains (losses) are included in other assets.
(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.



10

FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)
(dollars in thousands)
Three months ended
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
2025 2025 2025 2024 2024
Loans, by type:
Real estate - commercial mortgage $ 9,721,395  $ 9,652,320  $ 9,655,283  $ 9,595,996  $ 9,318,273 
Commercial and industrial 4,494,662  4,530,085  4,608,401  4,730,101  4,998,051 
Real estate - residential mortgage 6,560,413  6,448,443  6,367,978  6,319,205  6,268,922 
Real estate - home equity 1,191,465  1,179,109  1,160,713  1,116,665  1,122,313 
Real estate - construction 1,125,130  1,172,138  1,296,090  1,312,245  1,437,907 
Consumer 590,658  599,505  615,741  665,261  682,602 
Leases and other loans(1)
 336,599  318,142  302,657  329,311  319,733 
Total Net Loans $ 24,020,322  $ 23,899,742  $ 24,006,863  $ 24,068,784  $ 24,147,801 
Deposits, by type:
Noninterest-bearing demand $ 5,239,393  $ 5,303,997  $ 5,412,063  $ 5,558,110  $ 5,495,950 
Interest-bearing demand 7,876,227  7,800,881  7,753,586  7,838,590  7,668,583 
Savings 8,391,379  8,219,637  7,971,728  7,806,303  7,663,599 
     Total demand and savings 21,506,999  21,324,515  21,137,377  21,203,003  20,828,132 
Brokered 694,486  688,957  904,722  877,526  842,661 
Time 4,097,195  4,112,130  4,127,784  4,232,849  4,107,466 
Total Deposits $ 26,298,680  $ 26,125,602  $ 26,169,883  $ 26,313,378  $ 25,778,259 
Borrowings, by type:
Federal funds purchased $ —  $ 1,099  $ —  $ 54  $ — 
Federal Home Loan Bank advances 484,022  712,198  709,367  727,957  754,130 
Senior debt and subordinated debt 367,517  367,438  367,357  449,795  535,831 
Other borrowings and other interest-bearing liabilities 713,456  675,511  678,176  669,625  939,387 
Total Borrowings $ 1,564,995  $ 1,756,246  $ 1,754,900  $ 1,847,431  $ 2,229,348 
(1) Includes equipment lease financing, overdraft and net origination fees and costs.

11

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
(dollars in thousands)
Nine months ended September 30
2025 2024
Average Yield/ Average Yield/
Balance
Interest(1)
 Rate Balance
Interest(1)
 Rate
ASSETS
Interest-earning assets:
Net loans(2)
 $ 23,975,693  $ 1,055,558  5.88  % $ 22,918,845  $ 1,045,573  6.09  %
Investment securities(3)
 5,307,436  146,147  3.67  % 4,303,048  98,701  3.05  %
Other interest-earning assets 698,727  24,919  4.76  % 921,483  37,126  5.38  %
Total Interest-Earning Assets 29,981,856  1,226,624  5.46  % 28,143,376  1,181,400  5.60  %
Noninterest-Earning assets:
Cash and due from banks 297,491  297,268 
Premises and equipment 186,414  202,531 
Other assets 1,850,254  1,828,085 
Less: ACL - loans(4)
 (383,776) (353,567)
Total Assets $ 31,932,239  $ 30,117,693 
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-Bearing liabilities:
Demand deposits $ 7,810,681  $ 105,303  1.80  % $ 6,785,106  $ 91,016  1.79  %
Savings deposits 8,195,790  140,800  2.30  % 7,215,631  133,175  2.47  %
Brokered deposits 761,952  25,222  4.43  % 1,015,823  41,073  5.40  %
Time deposits 4,112,258  118,998  3.87  % 3,583,905  114,721  4.28  %
Total Interest-Bearing Deposits 20,880,681  390,323  2.50  % 18,600,465  379,985  2.73  %
Borrowings and other interest-bearing liabilities 1,691,351  52,830  4.18  % 2,425,753  81,177  4.47  %
Total Interest-Bearing Liabilities 22,572,032  443,153  2.62  % 21,026,218  461,162  2.93  %
Noninterest-Bearing liabilities:
Demand deposits 5,317,851  5,339,590 
Other liabilities 735,460  791,175 
Total Liabilities 28,625,343  27,156,983 
Total Deposits 26,198,532  1.99  % 23,940,055  2.12  %
Total interest-bearing liabilities and non-interest bearing deposits (cost of funds) 27,889,883  2.12  % 26,365,808  2.33  %
Shareholders' equity 3,306,896  2,960,710 
Total Liabilities and Shareholders' Equity $ 31,932,239  $ 30,117,693 
Net interest income/net interest margin (fully taxable equivalent) 783,471  3.49  % 720,238  3.42  %
Tax equivalent adjustment (13,166) (13,572)
Net Interest Income $ 770,305  $ 706,666 
(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
(2) Average balances include non-performing loans.
(3) Average balances include amortized historical cost for AFS; the related unrealized holding gains (losses) are included in other assets.
(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.






12

FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)
(dollars in thousands)
Nine months ended September 30
2025 2024
Loans, by type:
Real estate - commercial mortgage $ 9,676,574  $ 8,803,503 
Commercial and industrial 4,543,967  4,786,976 
Real estate - residential mortgage 6,459,649  5,844,317 
Real estate - home equity 1,177,209  1,091,526 
Real estate - construction 1,197,159  1,370,134 
Consumer 601,877  697,204 
Leases and other loans(1)
 319,258  325,185 
Total Net Loans $ 23,975,693  $ 22,918,845 
Deposits, by type:
Noninterest-bearing demand $ 5,317,851  $ 5,339,590 
Interest-bearing demand 7,810,681  6,785,106 
Savings 8,195,790  7,215,631 
   Total demand and savings 21,324,322  19,340,327 
Brokered 761,952  1,015,823 
Time 4,112,258  3,583,905 
Total Deposits $ 26,198,532  $ 23,940,055 
Borrowings, by type:
Federal funds purchased $ 366  $ 68,515 
Federal Home Loan Bank advances 634,370  829,971 
Senior debt and subordinated debt 367,438  535,656 
Other borrowings 689,177  991,611 
Total Borrowings $ 1,691,351  $ 2,425,753 
(1) Includes equipment lease financing, overdraft and net origination fees and costs.
13

FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
(dollars in thousands)
Three months ended Nine months ended
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30 Sep 30 Sep 30
2025 2025 2025 2024 2024 2025 2024
Allowance for credit losses related to net loans:
Balance at beginning of period $ 377,337 $ 379,677 $ 379,156 $ 375,961 $ 375,941 $ 379,156  $ 293,404 
CECL day 1 provision expense(1)
 — — — — — —  23,444 
Initial purchased credit deteriorated allowance for credit losses — — — (136) (1,139) —  54,767 
Loans charged off:
    Real estate - commercial mortgage (3,906) (6,402) (12,106) (2,844) (2,723) (22,414) (10,602)
    Commercial and industrial (5,847) (5,780) (3,865) (9,480) (6,256) (15,492) (16,843)
    Real estate - residential mortgage (394) (258) (343) (55) (1,131) (995) (1,417)
    Consumer and home equity (2,527) (1,885) (2,193) (2,179) (2,308) (6,605) (6,312)
    Real estate - construction (5,286) (100) — — — (5,387) — 
    Leases and other loans(2)
 (1,479) (1,491) (1,527) (1,768) (726) (4,495) (2,929)
    Total loans charged off (19,439) (15,916) (20,034) (16,326) (13,144) (55,388) (38,103)
Recoveries of loans previously charged off:
    Real estate - commercial mortgage 4,307 133 374 199 107 4,814  405 
    Commercial and industrial 3,205 2,628 5,952 1,387 1,008 11,785  3,052 
    Real estate - residential mortgage 33 203 174 104 130 410  368 
    Consumer and home equity 726 899 660 974 545 2,285  2,382 
    Real estate - construction 47 99 82 47 103 228  336 
    Leases and other loans(2)
 192 240 201 194 129 633  538 
    Total recoveries of loans previously charged off 8,510 4,202 7,443 2,905 2,022 20,155  7,081 
Net loans charged off (10,929) (11,714) (12,591) (13,421) (11,122) (35,233) (31,022)
Provision for credit losses(1)
 9,850 9,374 13,112 16,752 12,281 32,335  35,368 
Balance at end of period $ 376,258 $ 377,337 $ 379,677 $ 379,156 $ 375,961 $ 376,258  $ 375,961 
Net charge-offs to average loans(3)
 0.18  % 0.20  % 0.21  % 0.22  % 0.18  % 0.20  % 0.18  %
Provision for credit losses related to OBS Credit Exposures
Provision for credit losses(1)
 $ 395 $ (767) $ 786 $ (27) $ (352) $ 414 $ (3,902)
NON-PERFORMING ASSETS:
Non-accrual loans $ 150,137 $ 182,942 $ 162,426 $ 189,293 $ 175,861
Loans 90 days past due and accruing 48,597 29,949 34,367 30,781 26,286
    Total non-performing loans 198,734 212,891 196,793 220,074 202,147
Other real estate owned 2,305 2,706 2,193 2,621 2,844
Total non-performing assets $ 201,039 $ 215,597 $ 198,986 $ 222,695 $ 204,991
NON-PERFORMING LOANS, BY TYPE:
Commercial and industrial $ 48,817 $ 45,565 $ 42,913 $ 43,677 $ 64,450
Real estate - commercial mortgage 87,789 90,852 88,081 102,359 71,467
Real estate - residential mortgage 44,689 37,703 46,878 45,901 41,727
Consumer and home equity 12,658 11,109 12,682 14,374 12,830
Real estate - construction 3,461 25,602 3,666 1,746 1,746
Leases and other loans(2)
 1,320 2,060 2,573 12,017 9,927
Total non-performing loans $ 198,734 $ 212,891 $ 196,793 $ 220,074 $ 202,147
(1) The sum of these amounts are reflected in the provision for credit losses in the Condensed Consolidated Statements of Income.
(2) Includes equipment lease financing, overdraft and net origination fees and costs.
(3) Quarterly results are annualized.
14

FULTON FINANCIAL CORPORATION
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
(dollars in thousands, except per share and share data)
Explanatory note: This press release contains supplemental financial information, as detailed below, that has been derived by methods other than GAAP. The Corporation has presented these non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Management believes that these non-GAAP financial measures, in addition to GAAP measures, are also useful to investors to evaluate the Corporation's results. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure follow:
Three months ended
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
2025 2025 2025 2024 2024
Operating net income available to common shareholders
Net income available to common shareholders $ 97,892 $ 96,636 $ 90,425 $ 66,058 $ 60,644
Less: Other (738) (9) (122) (269) (677)
Plus: Gain on acquisition, net of tax — — — 2,689 7,706
Plus: Core deposit intangible amortization 5,255 5,346 6,155 6,155 6,155
Plus: Acquisition-related expense — — 380 9,637 14,195
Plus: FDIC special assessment — — — — (16)
Plus: FultonFirst implementation and asset disposals (207) (270) (47) 10,001 9,385
Less: Tax impact of adjustments (905) (1,064) (1,337) (5,360) (6,099)
Operating net income available to common shareholders (numerator) $ 101,297 $ 100,639 $ 95,454 $ 88,911 $ 91,293
Weighted average shares (diluted) (denominator) 183,349 183,813 184,077 183,867 183,609
Operating net income available to common shareholders, per share (diluted) $ 0.55 $ 0.55 $ 0.52 $ 0.48 $ 0.50
Common shareholders' equity (tangible), per share
Shareholders' equity $ 3,413,598 $ 3,329,246 $ 3,274,321 $ 3,197,325 $ 3,203,943
Less: Preferred stock (192,878) (192,878) (192,878) (192,878) (192,878)
Less: Goodwill and intangible assets (618,361) (623,729) (629,189) (635,458) (641,739)
Tangible common shareholders' equity (numerator) $ 2,602,359 $ 2,512,639 $ 2,452,254 $ 2,368,989 $ 2,369,326
Shares outstanding, end of period (denominator) 180,865 182,379 182,204 182,089 181,957
Common shareholders' equity (tangible), per share $ 14.39 $ 13.78 $ 13.46 $ 13.01 $ 13.02
15

Three months ended
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
2025 2025 2025 2024 2024
Operating return on average assets
Net income $ 100,454 $ 99,198 $ 92,987 $ 68,620 $ 63,206
Less: Other (738) (9) (122) (269) (677)
Less: Gain on acquisition, net of tax — — — 2,689 7,706
Plus: Core deposit intangible amortization 5,255 5,346 6,155 6,155 6,155
Plus: Acquisition-related expense — — 380 9,637 14,195
Plus: FDIC special assessment — — — — (16)
Plus: FultonFirst implementation and asset disposals (207) (270) (47) 10,001 9,385
Less: Tax impact of adjustments (905) (1,064) (1,337) (5,360) (6,099)
Operating net income (numerator) $ 103,859 $ 103,201 $ 98,016 $ 91,473 $ 93,855
Total average assets $ 31,924,038 $ 31,901,574 $ 31,971,601 $ 32,098,852 $ 31,895,235
Less: Average net core deposit intangible (65,999) (71,282) (77,039) (83,173) (89,350)
Total operating average assets (denominator) $ 31,858,039 $ 31,830,292 $ 31,894,562 $ 32,015,679 $ 31,805,885
Operating return on average assets(1)
 1.29% 1.30% 1.25% 1.14% 1.17%
Operating return on average common shareholders' equity (tangible)
Net income available to common shareholders $ 97,892 $ 96,636 $ 90,425 $ 66,058 $ 60,644
Less: Other (738) (9) (122) (269) (677)
Less: Gain on acquisition, net of tax — — — 2,689 7,706
Plus: Intangible amortization 5,368 5,460 6,269 6,282 6,287
Plus: Acquisition-related expense — — 380 9,637 14,195
Plus: FDIC special assessment — — — — (16)
Plus: FultonFirst implementation and asset disposals (207) (270) (47) 10,001 9,385
Less: Tax impact of adjustments (929) (1,088) (1,361) (5,387) (6,127)
Adjusted net income available to common shareholders (numerator) $ 101,386 $ 100,729 $ 95,544 $ 89,011 $ 91,397
Average shareholders' equity $ 3,361,368 $ 3,304,015 $ 3,254,125 $ 3,219,026 $ 3,160,322
Less: Average preferred stock (192,878) (192,878) (192,878) (192,878) (192,878)
Less: Average goodwill and intangible assets (620,986) (626,383) (632,254) (638,507) (644,814)
Average tangible common shareholders' equity (denominator) $ 2,547,504 $ 2,484,754 $ 2,428,993 $ 2,387,641 $ 2,322,630
Operating return on average common shareholders' equity (tangible)(1)
 15.79% 16.26% 15.95% 14.83% 15.65%
Tangible common equity to tangible assets (TCE Ratio)
Shareholders' equity $ 3,413,598 $ 3,329,246 $ 3,274,321 $ 3,197,325 $ 3,203,943
Less: Preferred stock (192,878) (192,878) (192,878) (192,878) (192,878)
Less: Goodwill and intangible assets (618,361) (623,729) (629,189) (635,458) (641,739)
Tangible common shareholders' equity (numerator) $ 2,602,359 $ 2,512,639 $ 2,452,254 $ 2,368,989 $ 2,369,326
Total assets $ 31,995,086 $ 32,040,448 $ 32,132,028 $ 32,071,810 $ 32,185,726
Less: Goodwill and intangible assets (618,361) (623,729) (629,189) (635,458) (641,739)
Total tangible assets (denominator) $ 31,376,725 $ 31,416,719 $ 31,502,839 $ 31,436,352 $ 31,543,987
Tangible common equity to tangible assets 8.29% 8.00% 7.78% 7.54% 7.51%
(1) Results are annualized.
16

Three months ended
Sep 30 Jun 30 Mar 31 Dec 31 Sep 30
2025 2025 2025 2024 2024
Efficiency ratio
Non-interest expense $ 196,574 $ 192,811 $ 189,460 $ 216,615 $ 226,089
Less: Acquisition-related expense — — (380) (9,637) (14,195)
Less: FDIC special assessment — — — — 16
Less: FultonFirst implementation and asset disposals 207 270 47 (10,001) (9,385)
Less: Intangible amortization (5,368) (5,460) (6,269) (6,282) (6,287)
Operating non-interest expense (numerator) $ 191,413 $ 187,621 $ 182,858 $ 190,695 $ 196,238
Net interest income $ 264,198 $ 254,921 $ 251,187 $ 253,659 $ 258,009
Tax equivalent adjustment 4,436 4,389 4,340 4,343 4,424
Plus: Total non-interest income 70,407 69,148 67,232 65,924 59,673
Less: Other revenue (138) (9) (122) (269) (677)
Less: Gain on acquisition, net of tax — — — 2,689 7,706
Plus: Investment securities (gains) losses, net — — 2 — 1
Total revenue (denominator) $ 338,903 $ 328,449 $ 322,639 $ 326,346 $ 329,136
Efficiency ratio 56.5% 57.1% 56.7% 58.4% 59.6%
Operating non-interest expense to total average assets
Non-interest expense $ 196,574 $ 192,811 $ 189,460 $ 216,615 $ 226,089
Less: Intangible amortization (5,368) (5,460) (6,269) (6,282) (6,287)
Less: Acquisition-related expense — — (380) (9,637) (14,195)
Less: FDIC special assessment — — — — 16
Less: FultonFirst implementation and asset disposals 207 270 47 (10,001) (9,385)
Operating non-interest expense (numerator) $ 191,413 $ 187,621 $ 182,858 $ 190,695 $ 196,238
Total average assets (denominator) $ 31,924,038 $ 31,901,574 $ 31,971,601 $ 32,098,852 $ 31,895,235
Operating non-interest expenses to total average assets(1)
 2.38% 2.36% 2.32% 2.36% 2.45%
(1) Results are annualized.
Nine Months Ended
Sep 30 Sep 30
2025 2024
Operating net income available to common shareholders
Net income available to common shareholders $ 284,953 $ 212,436
Less: Other (869) (1,535)
Plus Gain on acquisition, net of tax —  (39,685)
Plus: Loss on securities restructuring —  20,282 
Plus: Core deposit intangible amortization 16,756  11,152 
Plus: Acquisition-related expense 380  27,998 
Plus: CECL Day 1 Provision —  23,444 
Less: Gain on sale-leaseback —  (20,266)
Plus: FDIC special assessment — 940
Plus: FultonFirst implementation and asset disposals (524) 22,065
Less: Tax impact of adjustments (3,306) (17,657)
Operating net income available to common shareholders (numerator) $ 297,390 $ 239,174 239,174
Weighted average shares (diluted) (denominator) 183,718  175,033 
Operating net income available to common shareholders, per share (diluted) $ 1.62 $ 1.37

17
EX-99.2 3 a3q25-irandearningsdeckf.htm EX-99.2 a3q25-irandearningsdeckf
z INVESTOR PRESENTATION Data as of or for the period ended September 30, 2025 unless otherwise noted

 
Forward-Looking Statements 2 This presentation may contain forward-looking statements with respect to Fulton Financial Corporation's (the "Corporation“ or “Fulton”) financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," “projects,” the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation’s future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation’s business or financial results. Management’s "2025 Operating Guidance" contained herein is comprised of forward-looking statements. Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation’s control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation’s actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Reports on Form 10-Q for the quarters ending March 31, 2025 and June 30, 2025 and other periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation’s website (www.fultonbank.com) and on the SEC’s website (www.sec.gov). The Corporation uses certain financial measures in this presentation that have been derived by methods other than generally accepted accounting principles ("GAAP"). These non-GAAP financial measures are reconciled to the most comparable GAAP measures at the end of this presentation.

 
QUARTERLY FINANCIAL PERFORMANCE

 
4 Third Quarter 2025 Financial Highlights (1) Non-GAAP financial measures. Please refer to the calculation and management’s reason for using this measure on the slide titled “Non -GAAP Reconciliation” at the end of this presentation. Productivity: • Disciplined & Profitable Growth • Strong Operating Profitability Metrics • Record Operating Net Income Available to Common Shareholders of $101.3 million or $0.55 per Diluted Share Focus: • Benefits Realization from Strategic Initiatives • Solid Balance Sheet & Liquidity • Ongoing Commitment to Organizational Efficiency 3Q25 2Q25 3Q25 2Q25 Net Income Available to Common Shareholders (dollars in millions) $97.9 $96.6 $101.3 $100.6 Return on Average Assets (annualized) 1.25% 1.25% 1.29% 1.30% Return on Average Tangible Common Equity (annualized; non-GAAP) -- -- 15.79% 16.26% Efficiency Ratio (non-GAAP) -- -- 56.5% 57.1% Non-Interest Expense / Average Assets (annualized) 2.44% 2.42% 2.38% 2.36% Diluted Earnings Per Share $0.53 $0.53 $0.55 $0.55 Operating Pre-Provision Net Revenue ("PPNR") (dollars in millions; non-GAAP) -- -- $142.9 $136.3 Operating PPNR / Average Assets (annualized; non-GAAP) -- -- 1.78% 1.72% GAAP Reported Operating (1)

 
3Q25 Income Statement Summary 5 (1) Non-GAAP financial measures. Please refer to the calculation and management’s reason for using this measure on the slide titled “Non -GAAP Reconciliation” at the end of this presentation. 3Q25 2Q25 Linked-Quarter Change Net interest income $264,198 $254,921 $9,277 Provision for credit losses 10,245 8,607 1,638 Non-interest income before investment securities gains (losses) 70,407 69,148 1,259 Securities gains (losses) - - - Non-interest expense 196,574 192,811 3,763 Income before income taxes 127,786 122,651 5,135 Income taxes 27,332 23,453 3,879 Net income 100,454 99,198 1,256 Preferred stock dividends (2,562) (2,562) - Net income available to common shareholders $97,892 $96,636 $1,256 Net income available to common shareholders, per share (diluted) $0.53 $0.53 $0.00 Operating net income available to common shareholders, per share (diluted)(1) $0.55 $0.55 $0.00 Return on average assets ("ROAA") 1.25% 1.25% 0.00% Operating ROAA(1) 1.29% 1.30% -0.01% Return on average common shareholders' equity ("ROAE") 12.26% 12.46% -0.20% Operating ROAE (tangible)(1) 15.79% 16.26% -0.47% Efficiency ratio(1) 56.5% 57.1% -0.6% (dollars in thousands, except per-share data)

 
Net Interest Income 6 (1) Net interest income on a non-FTE basis using a 21% federal tax rate and statutory interest expense disallowances. • Net interest margin (“NIM”) was 3.57% in the third quarter of 2025, increasing ten basis points (“bps”) compared to the second quarter of 2025. An increase in loan yields and a decrease in cost of funds benefited NIM during the quarter. • Loan yield of 5.93% increased by seven bps during the third quarter of 2025 compared to the second quarter of 2025. • Total cost of deposits was 1.96% for the third quarter of 2025, a decrease of two bps compared to the second quarter of 2025. Highlights Net Interest Income(1) & NIM Average Deposits and Borrowings & Other and Cost of Funds Average Interest-Earning Assets & Yields (dollars in millions) (dollars in billions) (dollars in billions)

 
Non-Interest Income Remains a Key Revenue Source at Over 20% of Revenue 7 Total Revenue (Three months ended 9/30/25) Non-Interest Income (Three months ended 9/30/25) Diversified Revenue in Complementary Businesses Change Since (dollars in thousands) 3Q25 2Q25 1Q25 4Q24 3Q24 2Q25 Commercial banking $23,165 $23,431 $21,329 $22,454 $22,289 ($266) Wealth management 22,639 22,281 21,785 22,002 21,596 358 Consumer banking 15,174 14,528 13,068 14,309 14,928 646 Mortgage banking 3,711 3,991 3,138 3,759 3,142 (280) Gain on acquisition, net of tax - - - (2,689) (7,706) - Other 5,718 4,917 7,914 6,089 5,425 801 Non-interest income before investment securities gains (losses) $70,407 $69,148 $67,234 $65,924 $59,674 $1,259 Investment securities gains (losses), net - - (2) - (1) - Total Non-Interest Income $70,407 $69,148 $67,232 $65,924 $59,673 $1,259

 
Disciplined Management of Non-Interest Expense Drives Earnings 8 (1) Non-GAAP financial measure. Please refer to the calculation and management’s reason for using this measure on the slide tit led “Non-GAAP Reconciliation” at the end of this presentation. Highlights • Operating non-interest expense increased $3.8 million on a linked-quarter basis • Salaries and employee benefits expense increased primarily due to an increase in incentive compensation expense and one additional calendar day in the third quarter of 2025 (dollars in thousands) 3Q25 2Q25 1Q25 4Q24 3Q24 2Q25 Salaries and employee benefits $111,265 $107,123 $103,526 $107,886 $118,824 $4,142 Data processing and software 18,535 18,262 18,599 19,550 20,314 273 Net occupancy 15,954 16,410 18,207 16,417 18,999 (456) Other outside services 12,951 12,009 11,837 14,531 15,839 942 Intangible amortization 5,368 5,460 6,269 6,282 6,287 (92) FDIC insurance 5,089 4,951 5,597 5,921 5,109 138 Equipment 3,926 4,100 4,150 4,388 4,860 (174) Professional fees 2,320 2,163 (1,078) 3,387 2,811 157 Acquisition-related expenses - - 380 9,637 14,195 - Other 21,166 22,333 21,973 28,616 18,851 (1,167) Total non-interest expense $196,574 $192,811 $189,460 $216,615 $226,089 $3,763 Non-GAAP adjustments: Less: Intangible amortization (5,368) (5,460) (6,269) (6,282) (6,287) 92 Less: Acquisition-related expenses - - (380) (9,637) (14,195) - Less: FDIC special assessment - - - - 16 - Less: FultonFirst implementation and asset disposals 207 270 47 (10,001) (9,385) (63) Operating non-interest expense(1) $191,413 $187,621 $182,858 $190,695 $196,238 $3,792 Change Since

 
Asset Quality (1) The allowance for credit losses (“ACL”) relates specifically to “Loans, net of unearned income” and does not include reserves related to off-balance sheet credit exposures.9 Provision for Credit Losses Non-Performing Assets (“NPAs”) & NPAs to Assets Net Charge-offs (“NCOs”) and NCOs to Average Loans ACL(1) to Non-Performing Loans (“NPLs”) & Loans

 
10 Internal Capital Generation Enhancing Capital Ratios • Increasing regulatory capital ratios provide operational and strategic flexibility • Tangible capital increased linked quarter by $90 million, net of share repurchases(1) • Accumulated other comprehensive income (“AOCI”) ended the quarter at ($228) million • Current common dividend of $0.18 has doubled in the past ten years • $85.6 million remaining share repurchase authorization in place through December 31, 2025(2) (1) Non-GAAP financial measure. Please refer to the calculation and management’s reason for using this measure on the slide titled “ Non-GAAP Reconciliation” at the end of this presentation. (2) Up to $25 million of this authorization may be used to repurchase the Corporation’s preferred stock and/or 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030. (3) Excesses shown are to regulatory minimums, including the 250 basis point capital conservation buffer, except for Tier 1 Leverage which is the well-capitalized minimum. (3) (as of September 30, 2025, dollars in millions) Highlights

 
11 2025 Operating Guidance (1) NII is on a non-FTE basis. (2) Excludes non-operating expenses and core deposit intangible (“CDI”) amortization. Income Statement Line Item Expected Range Outlook Non-FTE Net Interest Income ("NII") (1) $1.025 - $1.035 billion Increasing range - incorporates federal funds target rate cuts of 25 bps in October and 25 bps in December; Reflects low single-digit interest earning asset growth [ FTE Adjustment for NIM calculation ] [ ~$17 million annualized ] Provision for Credit Losses $45 - $55 million Lowering range - reflects actual performance to date and low single-digit loan growth Non-Interest Income $270 - $280 million Tightening range - steady market activity and interest rate environment Non-Interest Expense (Operating) (2) $750 - $760 million Tightening range - low single-digit increase from 2024 Non-Operating Assumptions: [ 2025 CDI expense ] [ $22.5 million ] [ Non-Operating Expenses ] [ $7 million ] Effective Tax Rate: 19% - 20% Increasing range - reflects stronger operating performance

 
CORPORATE HIGHLIGHTS

 
A Community Bank Strategy, Operating on a Regional Scale 13 Our Differentiator: Customer Intimacy Execution of our Strategic Objectives has provided us with long-term growth in customers, exceptional customer experience, enhanced operational metrics, delivering results to our stakeholders Our Strategic Objectives

 
• $32 billion in assets, 200 financial centers, 200 commercial sales professionals, 100 mortgage loan officers, and more than 3,300 team members operating in a customer-dense Mid-Atlantic market(1) • Market Capitalization of ~$3.1 billion(2) • Current valuation(2) of 8.9x last twelve months diluted earnings per share (“EPS”) of $1.91, and 1.2x tangible book value(3) • Steady increase in shareholder value with a five-year compound annual growth rate (“CAGR”) in tangible book value per share, excluding AOCI(3), of 7.1% • Ten-year CAGR in common dividends of 7.2% • 4.21% dividend yield(4) • $85.6 million remaining of a $125 million share repurchase authorization(5) 14 Well-Positioned to Grow (1) As of September 30, 2025. (2) Based on shares outstanding of 182 million and closing price of $17.09 as of October 17, 2025. (3) As of September 30, 2025, tangible book value per share was$14.39. Tangible book value per share is a non-GAAP financial measure. Please refer to the calculation and management’s reasons for using this measure on slides titled “Non -GAAP Reconciliation” at the end of this presentation. (4) Based on current quarterly common dividend of $0.18 per share and closing stock price of $17.09 per share as of October 17, 2025. (5) Authorization expires December 31, 2025. Up to $25 million of this authorization may be used to repurchase the Corporation’s preferred stock and/or 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030.

 
With a Robust and Scalable Product Suite Well positioned to compete in and serve our market • Significant technology spend over the past five years​ o New commercial origination system, new mortgage origination system, new mortgage loan servicing system, new consumer origination system, new customer relationship management system o Focus on digital enablement as a driver of growth, efficiency and service 15

 
16 We Do What Is Right Corporate Social Responsibility • Our most recent Corporate Social Responsibility Report with key metrics is available at www.fultonbank.com/About-Fulton-Bank. • Integrity is fundamental to governance at Fulton. The Corporation’s established Board governance and oversight support management’s efforts to build maturity and capability that drives impact. • The Climate Impact Working Group underscores the Corporation’s commitment to progressing its understanding of, and reporting on, climate-related risks and activities. READ THE REPORT Protecting the Environment Changing Lives for the Better Corporate Governance Environment The Corporation is committed to practicing environmental stewardship in its everyday operations Operational measures like waste reduction and smart energy use, as well as financing sustainable projects, are core to these efforts Governance Core values and guiding behavior lead the Corporation to demonstrate the highest professional and ethical standards in all business activities The Corporation operates under a robust board- and management-level enterprise risk management structure Employees The Corporation is committed to creating a workforce culture that is welcoming, engaging and inclusive Customers Fulton Bank has a proven track record of fair and responsible banking – rated “Outstanding” for Community Reinvestment Act performance Community Employees live and work in the communities we serve and want to see these communities thrive. Through the Fulton Forward® initiative, the Corporation gives back by paying it forward 16

 
A Balanced Business Model Delivering Strong Returns • Non-interest income as a percentage of revenue of approximately 21% • Wealth management accounts for approximately 1/3 of total non-interest income, delivering a 9% 5-year CAGR, AUM/AUA(1) of $17.2 billion and over 85% in recurring income • Commercial banking businesses representing approximately 1/3 of total non-interest income • Fulton Mortgage Company caters to the new home purchase business with the ability to leverage refinance activity into gain on sale revenue 17 • A full-service commercial bank with robust treasury services, payment technology solutions, wealth management and full-service mortgage company • Ongoing investment in technology, digitally enabling a growing customer base • Serving a diversified, dense and economically stable market • Room to grow in existing markets and continue to penetrate both organically and inorganically • Organic growth strategy supplemented by inorganic, in-market opportunities • Low commercial real estate (“CRE”) concentration compared to peers (2) • Reduced financial center infrastructure over the last ten years, driving average deposits per financial center over $100 million per financial center • Completed $5.2 billion Republic First Bank (“Republic”) transaction in 2024, $1.2 billion acquisition in 2022 and acquired five wealth management firms since 2018 • Operates in a target-rich market with over 40 in-market banking institutions that fit our mergers and acquisitions criteria and strategy • 3Q25 operating diluted EPS of $0.55(3) • Operating return on average assets of 1.29% (3) in 3Q25 compared to 1.30%(3) in 2Q25 • 3Q25 operating return on average tangible common shareholders equity of 15.79% (3) compared to 16.26%(3) in 2Q25 • Efficiency ratio of 56.5%(3) and 57.1%(3) in 3Q25 and 2Q25, respectively • 3Q25 net charge-offs to average loans (annualized) of 18 basis points; allowance for credit losses to loans of 1.57% in addition to on-balance sheet purchase accounting marks Source: Management reporting and internal financials at September 30, 2025. (1) AUM/AUA defined as assets under management and assets under administration. (2) For a list of peers please see page 36 of the Corporation’s proxy statement dated April 1, 2025. (3) Non-GAAP financial measure. Please refer to the calculation and management’s reasons for using this measure on slides titled “Non -GAAP Reconciliation” at the end of this presentation. Premier Franchise that Provides Expanding and Innovative Solutions Robust Combination of Diversified Business Lines and Fee Income Businesses Dynamic Growth Strategy Blending an Organic Engine with Inorganic Opportunities Attractive Risk- Adjusted Profitability and Returns

 
18 A Diversified Loan Portfolio with Growth in Multiple Categories Loan Portfolio Highlights • The loan portfolio has grown $7.1 billion since 2019 • A balanced loan mix enhanced by: • adjustable-rate mortgage growth in 2022 and 2023 outpacing other categories • 1/3 of the loan portfolio acquired in the Republic transaction was residential mortgages • Commercial mortgages remain a stable percentage of the mix (1) Loan mix by product is based on ending balances for the periods ended December 31, 2019 to September 30, 2025. The C&I category includes Paycheck Protection Program loan growth and forgiveness during the 2020 – 2025 timeframe. The Construction category includes residential and commercial construction loans. Loan Mix By Product(1) (dollars in billions)

 
Deposit Portfolio That Is Granular, Tenured and Diversified With Significant Liquidity Coverage 19 (1) As of September 30, 2025. Estimated uninsured deposits net of collateralized municipal deposits and inter-company deposits. For the calculation of the coverage of net estimated uninsured deposits, please refer to slide 28. (2) Deposit mix by product is based on ending balances for the periods ended December 31, 2019 to September 30, 2025. Deposit Mix By Customer (September 30, 2025) Deposit Portfolio Highlights(1) 880,669 deposit accounts $30,447 average account balance ~10 year average account age 23% net estimated uninsured deposits 282% coverage of net estimated uninsured deposits Deposit Mix By Product(2) (dollars in billions)

 
History of Prudently Managing Deposit Costs During Fed Easing Cycles With Strategies in Place to Drive a Neutral Interest Rate Risk Position 20 Quarterly & Cycle to Date Yields, Costs & Betas Historical Deposit Costs & Loan and Deposit Betas(1) • Managed deposit costs to a 42% beta during the 2007 – 2011 easing cycle in a high-rate environment • Lower deposit beta in 2019 – 2020 attributable to a lower rate environment and inflow of deposits • Cycle to date deposit costs have benefited from time deposit repricing as the Federal Reserve has cut rates • Fixed asset repricing and balance sheet mix has benefited loan beta relative to historical cycles • Hold over $3 billion of receive fixed swaps, floors, and collars, helping to neutralize the interest rate risk profile. • Fed dot plot indicates additional 75 basis points of easing through 2026. Strategies in place to manage funding costs. Highlights (1) Fulton historical data – S&P Capital IQ. Quarterly Average EFFR – Federal Reserve Bank of St. Louis. 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 EFFR (avg) 5.33% 5.26% 4.65% 4.33% 4.33% 4.29% Loan Yield 6.12% 6.20% 5.97% 5.86% 5.86% 5.93% Deposit Cost 2.19% 2.24% 2.14% 2.03% 1.98% 1.96% Quarterly Yields, Costs and Average Effective Federal Funds Rate ("EFFR")

 
(1) “Repricing” includes contractual repricing of adjustable-rate loans, plus estimated cashflows and maturities of fixed rate assets and liabilities assumed within the time frames presented. (2) Other includes non-accrual loan balances, fair value purchase accounting marks and net origination fees and costs. (3) Time Deposits include brokered certificates of deposit (“CDs”). Fixed Rate Asset Repricing(1) Coupled With a Premier Deposit Franchise Drives a Neutral Interest Rate Risk Profile 21 Interest-Earning Assets Interest-Bearing Liabilities(3) Variable Rate Loans Non-maturity Deposits Time Deposits & Borrowings Repricing Schedule Fixed & Adjustable Asset Repricing Schedule (dollars in millions) (dollars in millions) (dollars in millions) (dollars in millions) (September 30, 2025) (September 30, 2025) (2)

 
Mature and Growing Wealth Management Business, Consistent Non-interest Income and Diversified Client Base Delivering Solid Results(1) 22 Over 85% Recurring Income Client & Market Aligned Growth $87.7 Million TTM(2) Non-Interest Income Wealth Management Income 5 Year CAGR of 9% 5 Wealth Management Acquisitions Since 2017 Organic & Analytics Based Growth Strategy Wealth Management AUM/AUA(3) (dollars in billions) (1) Wealth Management revenue does not include net interest income. (2) Trailing twelve months through September 30, 2025 Wealth Management income. (3) Assets under management and administration are ending market values for the periods ended December 31, 2019 to September 30, 2025.

 
Material and Consistent Fee Income, Robust Suite of Commercial and Consumer Services 23 Commercial Non-Interest Income Consumer Non-Interest Income(1) Repeatable Income Stream; Analytics-Based Cross-Sell Opportunity Disciplined Earnings Credit Rate and Exception Process; Multi-Channel Distribution Strategy Robust Back-to-Back Swap Program Serves Commercial Customers Financial Center Network and Loyal Customer Base Drive Consumer Fees (dollars in thousands) (dollars in thousands) Merchant & Card Income Cash Management Capital Markets Consumer Fees (1) Does not include gain on sale from residential mortgages.

 
Solid Asset Quality Trends Through Many Cycles 24 Sources: Top 100 Commercial Banks and All Commercial Banks - Board of Governors of the Federal Reserve System (Top 100 Commercial Banks are the 100 largest banks based on consolidated assets); Fulton historical data – S&P Capital IQ. Delinquency rates are non-seasonally adjusted and determined based on loans and leases past due 30 days or more and non-accrual loans. Charge-off rates are non-seasonally adjusted and are net of recoveries.

 
25 The Loan Portfolio Remains Diversified and Granular With Low Office Concentration at 3% of Total Loans (1) LTV as of most recent appraisal. (2) Metropolitan Statistical Areas or “MSA” titled in short name for presentation purposes. Geographically Diverse by MSA(2)Maturing Over Time Total Loan Portfolio (September 30, 2025) Office Only Profile Total Office Loan Commitments: $797 million Total Office Loans Outstanding: $753 million Average Loan Size: $2.2 million Weighted Average loan-to-value (1) ("LTV"): 63% Weighted Average Debt Service Coverage Ratio ("DSCR"): 1.35x Class A: 34% Class B: 32% Class C: 9% Not Classified: 25%

 
26 Multi-Family Loans Represent 8% of the Total Loan Portfolio With a Small Average Loan Size, Low LTV and Solid Debt Service Coverage (1) LTV as of most recent appraisal. (2) MSAs titled in short name for presentation purposes. Diversified by Geographical MSA(2) Total Loan Portfolio (September 30, 2025) Multi-Family Profile Maturing Over Time Total Multi-Family Loan Commitments: $2.1 billion Total Multi-Family Loans Outstanding: $1.9 billion Average Loan Size: $3.2 million Weighted Average LTV (1): 59% Weighted Average DSCR: 1.35x Class A: 47% Class B: 16% Class C: 6% Not Classified: 31%

 
Fulton’s Non-Owner-Occupied Commercial Mortgage(1) Portfolio is Well Diversified within the Industries Served 27 (1) Non-owner-occupied commercial mortgage of $5.3 billion represents 55% of the $9.7 billion total commercial mortgage portfoli o.

 
Estimated Uninsured Deposits September 30, 2025 Total Deposits 26,332$ Estimated Uninsured Deposits 9,652$ Estimated Uninsured Deposits to Total Deposits 37% Estimated Uninsured Deposits 9,652$ Less: Collateralized Municipal Deposits (3,542) Net Estimated Uninsured Deposits(4) 6,110$ Net Estimated Uninsured Deposits to Total Deposits 23% Committed Liquidity to Net Estimated Uninsured Deposits 175% Available Liquidity to Net Estimated Uninsured Deposits 282% Available Liquidity September 30, 2025 Cash On-Hand(1) 550$ Federal Reserve Capacity 4,175 Total Available @ Federal Reserve 4,175$ FHLB Borrowing Capacity 11,223 Advances(2) (466) Letters of Credit (4,257) Total Available @ FHLB 6,500$ Total Committed Liquidity 10,675$ Fed Funds Lines 2,576 Outstanding Net Fed Funds - Total Fed Funds Lines Available 2,576$ Brokered Deposit Capacity(3) 4,151 Brokered & Wholesale Deposits (710) Total Brokered Deposit Availability 3,441$ Total Uncommitted Available Liquidity 6,017$ Total Available Liquidity 17,242$ 28 (1) Includes cash at the Federal Home Loan Bank (“FHLB”) and Federal Reserve and vault cash for liquidity purposes only. (2) Includes accrued interest, fees, and other adjustments. (3) Brokered deposit availability is based upon internal policy limit. (4) Net estimated uninsured deposits are net of collateralized municipal deposits and inter-company deposits. A Healthy Committed Liquidity Profile with Significant Coverage • Robust liquidity profile with additional capacity at the Federal Reserve, FHLB and other available funding sources • Total available liquidity significantly exceeds net estimated uninsured deposits • On balance sheet liquidity remains a focus (dollars in millions) (dollars in millions)

 
NON-GAAP RECONCILIATION

 
Non-GAAP Reconciliation 30 Note: The Corporation has presented the following non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly-titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Three months ended (dollars in thousands) Sep 30 Jun 30 2025 2025 Operating net income available to common shareholders Net income available to common shareholders 97,892$ 96,636$ Less: Other (738) (9) Plus: Core deposit intangible amortization 5,255 5,346 Plus: FultonFirst implementation and asset disposals (207) (270) Less: Tax impact of adjustments (905) (1,064) Operating net income available to common shareholders (numerator) 101,297$ 100,639$ Weighted average shares (diluted) (denominator) 183,349 183,313 Operating net income available to common shareholder, per share (diluted) 0.55$ 0.55$

 
Non-GAAP Reconciliation 31 (1) Annualized. Three months ended (dollars in thousands) Sep 30 Jun 30 2025 2025 Operating return on average assets (1) Net income 100,454$ 99,198$ Less: Other (738) (9) Plus: Core deposit intangible amortization 5,255 5,346 Plus: FultonFirst implementation and asset disposals (207) (270) Less: Tax impact of adjustments (905) (1,064) Operating net income (numerator) 103,859$ 103,201$ Total average assets 31,924,038$ 31,901,574$ Less: Average net core deposit intangible (65,999) (71,282) Total operating average assets (denominator) 31,858,039$ 31,830,292$ Operating return on average assets 1.29% 1.30%

 
32 Non-GAAP Reconciliation (1) Annualized. Three months ended (dollars in thousands) Sep 30 Jun 30 2025 2025 Operating return on average common shareholders' equity (tangible) (1) Net income available to common shareholders 97,892$ 96,636$ Less: Other (738) (9) Plus: Intangible amortization 5,368 5,460 Plus: FultonFirst implementation and asset disposals (207) (270) Less: Tax impact of adjustments (929) (1,088) Adjusted net income available to common shareholders (numerator) 101,386$ 100,729$ Average shareholders' equity 3,361,368$ 3,304,015$ Less: Average preferred stock (192,878) (192,878) Less: Average goodwill and intangible assets (620,986) (626,383) Average tangible common shareholders' equity (denominator) 2,547,504$ 2,484,754$ Operating return on average common shareholders' equity (tangible) 15.79% 16.26%

 
Non-GAAP Reconciliation 33 (1) Annualized. Three months ended (dollars in thousands) Sep 30 Jun 30 2025 2025 Operating non-interest expense to total average assets (1) Non-interest expense 196,574$ 192,811$ Less: Intangible amortization (5,368) (5,460) Less: FultonFirst implementation and asset disposals 207 270 Operating non-interest expense (numerator) 191,413$ 187,621$ Total average assets (denominator) $31,924,038 $31,901,574 Operating non-interest expense to total average assets 2.38% 2.36%

 
34 Non-GAAP Reconciliation (1) Annualized. Three months ended (dollars in thousands) Sep 30 Jun 30 2025 2025 Operating pre-provision net revenue to average assets (1) Plus: Net interest income 264,198$ 254,921$ Plus: Non-interest income 70,407 69,148 Less: Non-interest expense (196,574) (192,811) Less: Other revenue (138) (9) Plus: Core deposit intangible amortization 5,255 5,346 Plus: FultonFirst implementation and asset disposals (207) (270) Operating pre-provision net revenue (numerator) 142,941$ 136,325$ Total average assets $31,924,038 $31,901,574 Less: Average net core deposit intangible (65,999) (71,282) Average assets (denominator) 31,858,039$ 31,830,292$ Operating pre-provision net revenue to average assets 1.78% 1.72%

 
35 Non-GAAP Reconciliation Three months ended (dollars in thousands) Sep 30 Jun 30 Efficiency ratio 2025 2025 Non-interest expense 196,574$ 192,811$ Less: FultonFirst implementation and asset disposals 207 270 Less: Intangible amortization (5,368) (5,460) Operating non-interest expense (numerator) 191,413$ 187,621$ Net interest income 264,198$ 254,921$ Tax equivalent adjustment 4,436 4,389 Plus: Total non-interest income 70,407 69,148 Less: Other revenue (138) (9) Total revenue (denominator) 338,903$ 328,449$ Efficiency ratio 56.5% 57.1%

 
Non-GAAP Reconciliation 36 (dollars in thousands, except per share data) Sep 30 Sep 30 2025 2020 Tangible book value per share Shareholders' equity 3,413,598$ 2,390,261$ Less: Preferred stock (192,878) - Less: Goodwill and intangible assets (618,361) (534,907) Tangible common shareholders' equity (numerator) 2,602,359$ 1,855,354$ Shares outstanding, end of period (denominator) 180,865 162,134 Tangible book value per share 14.39$ 11.44$ Book value per share 17.81$ 14.74$ Tangible book value per share excluding AOCI Shareholders' equity $3,413,598 2,390,261$ Less: Preferred stock (192,878) - Less: Goodwill and intangible assets (618,361) (534,907) Tangible common shareholders' equity 2,602,359$ 1,855,354$ Less/Plus: Accumulated other comprehensive income ("AOCI") (227,542) 56,954 Tangible common shareholders' equity excluding AOCI 2,829,901$ 1,798,400$ Shares outstanding, end of period (denominator) 180,865 162,134 Tangible book value per share excluding AOCI 15.65$ 11.09$

 
Non-GAAP Reconciliation 37 (dollars in thousands) Sep 30 Jun 30 2025 2025 Common shareholders' equity (tangible) Shareholders' equity $3,413,598 3,329,246$ Less: Preferred stock (192,878) (192,878) Less: Goodwill and intangible assets (618,361) (623,729) Tangible common shareholders' equity 2,602,359$ 2,512,639$

 
Investor Relations Contact Additional information can be found on our Investor Relations website at https://investor.fultonbank.com Investor inquiries can be directed to: Matthew Jozwiak Investor Relations Officer 717-327-2657 Mjozwiak@Fultonbank.com