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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 30Jun 30Mar 31Dec 31Sep 30
20252025202520242024
Ending Balances
Investment securities(1)
$5,045,270$5,093,027$5,071,323$4,806,468$4,545,278
Net loans24,041,48924,012,53923,862,57424,044,91924,176,075
Total assets31,995,08632,040,44832,132,02832,071,81032,185,726
Deposits26,332,49026,138,06726,328,97226,129,43326,152,144
Shareholders' equity3,413,5983,329,2463,274,3213,197,3253,203,943
Average Balances
Investment securities(1)
5,025,0725,084,3714,906,9524,771,5374,237,805
Net loans24,020,32223,899,74324,006,86324,068,78424,147,801
Total assets31,924,03831,901,57431,971,60132,098,85231,895,235
Deposits26,298,68026,125,60226,169,88326,313,37825,778,259
Shareholders' equity3,361,3683,304,0153,254,1253,219,0263,160,322
Income Statement
Net interest income264,198 254,921 251,187 253,659 258,009 
Provision for credit losses10,245 8,607 13,898 16,725 11,929 
Non-interest income70,407 69,148 67,232 65,924 59,673 
Non-interest expense196,574 192,811 189,460 216,615 226,089 
Income before taxes127,786 122,651 115,061 86,243 79,664 
Net income available to common shareholders97,892 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 30Jun 30Mar 31Dec 31Sep 30
20252025202520242024
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 loans0.83 %0.89 %0.82 %0.92 %0.84 %
Non-performing assets to total assets0.63 %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 assets1.25 %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' equity12.26 %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 margin3.57 %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 assets2.44 %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 ratio9.5 %9.4 %9.2 %9.0 %9.0 %
Common equity Tier 1 capital ratio11.5 %11.3 %11.1 %10.8 %10.5 %
Tier 1 risk-based capital ratio12.3 %12.1 %11.9 %11.5 %11.3 %
Total risk-based capital ratio14.9 %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 30Jun 30Mar 31Dec 31Sep 30
20252025202520242024
ASSETS
Cash and due from banks$307,267 $362,280 $388,503 $279,041 $296,500 
Other interest-earning assets643,111 583,899 778,117 924,404 1,287,392 
Loans held for sale19,875 23,281 15,965 25,618 17,678 
Investment securities5,045,270 5,093,027 5,071,323 4,806,468 4,545,278 
Net loans24,041,489 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, net23,665,231 23,635,202 23,482,897 23,665,763 23,800,114 
Net premises and equipment178,644 184,290 186,873 195,527 171,731 
Accrued interest receivable114,003 117,130 116,215 117,029 115,903 
Goodwill and intangible assets618,361 623,729 629,189 635,458 641,739 
Other assets1,403,324 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 
Borrowings1,471,961 1,773,900 1,657,200 1,782,048 2,052,227 
Other liabilities777,037 799,235 871,535 963,004 777,412 
    Total Liabilities28,581,488 28,711,202 28,857,707 28,874,485 28,981,783 
Shareholders' equity3,413,598 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 industrial4,437,905 4,541,765 4,531,266 4,605,589 4,914,734 
Real estate - residential mortgage6,617,017 6,511,687 6,409,657 6,349,643 6,302,624 
Real estate - home equity1,214,399 1,193,410 1,170,470 1,160,616 1,144,402 
Real estate - construction1,134,748 1,155,099 1,175,445 1,394,899 1,332,954 
Consumer566,291 583,949 597,305 616,856 651,717 
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 demand8,035,393 7,593,083 7,804,388 7,843,604 7,779,472 
Savings8,417,678 8,271,925 8,208,526 7,792,114 7,740,595 
     Total demand and savings21,589,281 21,202,779 21,448,848 21,135,478 21,021,766 
Brokered709,667 817,398 738,458 843,857 843,473 
Time4,033,542 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 debt367,557 367,476 367,396 367,316 535,917 
Other borrowings654,404 606,424 539,804 564,732 566,310 
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 endedNine months ended
Sep 30Jun 30Mar 31Dec 31Sep 30Sep 30
2025202520252024202420252024
Net Interest Income:
Interest income$411,006 $402,761 $399,692 $414,368 $427,656 $1,213,458 $1,167,828 
Interest expense146,808 147,840 148,505 160,709 169,647 443,153 461,162 
    Net Interest Income264,198 254,921 251,187 253,659 258,009 770,305 706,666 
Provision for credit losses10,245 8,607 13,898 16,725 11,929 32,749 54,910 
    Net Interest Income after Provision253,953 246,314 237,289 236,934 246,080 737,556 651,756 
Non-Interest Income:
Wealth management22,639 22,281 21,785 22,002 21,596 66,705 62,741 
Commercial banking:
   Merchant and card7,327 7,376 6,591 7,082 7,496 21,294 22,103 
   Cash management8,335 8,376 7,799 7,633 7,201 24,510 20,473 
   Capital markets2,908 2,945 2,411 2,797 3,311 8,264 8,236 
   Other commercial banking4,595 4,734 4,528 4,942 4,281 13,857 11,716 
Total commercial banking23,165 23,431 21,329 22,454 22,289 67,925 62,528 
Consumer banking:
  Card8,246 7,958 7,544 8,064 7,917 23,748 22,850 
  Overdraft4,153 3,817 3,295 3,644 3,957 11,265 10,120 
  Other consumer banking2,775 2,753 2,229 2,601 3,054 7,757 8,226 
Total consumer banking15,174 14,528 13,068 14,309 14,928 42,770 41,196 
Mortgage banking3,711 3,991 3,138 3,759 3,142 10,841 10,183 
Gain on acquisition, net of tax— — — (2,689)(7,706)— 39,685 
Other5,718 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 Income70,407 69,148 67,232 65,924 59,673 206,786 209,806 
Non-Interest Expense:
Salaries and employee benefits111,265 107,123 103,526 107,886 118,824 321,914 324,935 
Data processing and software18,535 18,262 18,599 19,550 20,314 55,396 58,332 
Net occupancy15,954 16,410 18,207 16,417 18,999 50,571 52,942 
Other outside services12,951 12,009 11,837 14,531 15,839 36,797 46,055 
Intangible amortization5,368 5,460 6,269 6,282 6,287 17,097 11,548 
FDIC insurance5,089 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 
Marketing2,470 2,604 2,521 2,695 2,251 7,595 6,263 
Professional fees2,320 2,163 (1,078)3,387 2,811 3,405 7,470 
Acquisition-related expenses— — 380 9,637 14,195 380 27,998 
Other18,696 19,729 19,452 25,921 16,600 57,877 36,263 
    Total Non-Interest Expense196,574 192,811 189,460 216,615 226,089 578,845 603,176 
    Income Before Income Taxes127,786 122,651 115,061 86,243 79,664 365,497 258,386 
Income tax expense27,332 23,453 22,074 17,623 16,458 72,858 38,264 
    Net Income100,454 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 endedNine months ended
Sep 30Jun 30Mar 31Dec 31Sep 30Sep 30
2025202520252024202420252024
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, 2025June 30, 2025September 30, 2024
AverageYield/AverageYield/AverageYield/
Balance
Interest(1)
RateBalance
Interest(1)
RateBalance
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 assets622,832 7,557 4.83 %682,075 8,197 4.82 %1,338,592 18,068 5.37 %
Total Interest-Earning Assets29,974,059 415,442 5.51 %29,972,770 407,150 5.44 %30,013,278 432,081 5.74 %
Noninterest-earning assets:
Cash and due from banks312,578 277,880 306,427 
Premises and equipment181,116 186,989 181,285 
Other assets1,837,179 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 deposits8,391,379 48,237 2.28 %8,219,637 47,462 2.32 %7,663,599 49,477 2.57 %
Brokered deposits694,486 7,689 4.39 %688,957 7,495 4.36 %842,661 11,344 5.36 %
Time deposits4,097,195 37,942 3.67 %4,112,130 39,492 3.85 %4,107,466 45,735 4.43 %
Total Interest-Bearing Deposits21,059,287 130,237 2.45 %20,821,605 129,194 2.49 %20,282,309 145,324 2.85 %
Borrowings and other interest-bearing liabilities1,564,996 16,571 4.20 %1,756,246 18,646 4.26 %2,229,348 24,324 4.34 %
Total Interest-Bearing Liabilities22,624,283 146,808 2.57 %22,577,851 147,840 2.62 %22,511,657 169,648 3.00 %
Noninterest-bearing liabilities:
Demand deposits5,239,393 5,303,997 5,495,950 
Other liabilities698,994 715,711 727,306 
Total Liabilities28,562,670 28,597,559 28,734,913 
Total Deposits26,298,680 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' equity3,361,368 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 30Jun 30Mar 31Dec 31Sep 30
20252025202520242024
Loans, by type:
Real estate - commercial mortgage$9,721,395 $9,652,320 $9,655,283 $9,595,996 $9,318,273 
Commercial and industrial4,494,662 4,530,085 4,608,401 4,730,101 4,998,051 
Real estate - residential mortgage6,560,413 6,448,443 6,367,978 6,319,205 6,268,922 
Real estate - home equity1,191,465 1,179,109 1,160,713 1,116,665 1,122,313 
Real estate - construction1,125,130 1,172,138 1,296,090 1,312,245 1,437,907 
Consumer590,658 599,505 615,741 665,261 682,602 
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 demand7,876,227 7,800,881 7,753,586 7,838,590 7,668,583 
Savings8,391,379 8,219,637 7,971,728 7,806,303 7,663,599 
     Total demand and savings21,506,999 21,324,515 21,137,377 21,203,003 20,828,132 
Brokered694,486 688,957 904,722 877,526 842,661 
Time4,097,195 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 advances484,022 712,198 709,367 727,957 754,130 
Senior debt and subordinated debt367,517 367,438 367,357 449,795 535,831 
Other borrowings and other interest-bearing liabilities713,456 675,511 678,176 669,625 939,387 
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
20252024
AverageYield/AverageYield/
Balance
Interest(1)
RateBalance
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 assets698,727 24,919 4.76 %921,483 37,126 5.38 %
Total Interest-Earning Assets29,981,856 1,226,624 5.46 %28,143,376 1,181,400 5.60 %
Noninterest-Earning assets:
Cash and due from banks297,491 297,268 
Premises and equipment186,414 202,531 
Other assets1,850,254 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 deposits8,195,790 140,800 2.30 %7,215,631 133,175 2.47 %
Brokered deposits761,952 25,222 4.43 %1,015,823 41,073 5.40 %
Time deposits4,112,258 118,998 3.87 %3,583,905 114,721 4.28 %
Total Interest-Bearing Deposits20,880,681 390,323 2.50 %18,600,465 379,985 2.73 %
Borrowings and other interest-bearing liabilities1,691,351 52,830 4.18 %2,425,753 81,177 4.47 %
Total Interest-Bearing Liabilities22,572,032 443,153 2.62 %21,026,218 461,162 2.93 %
Noninterest-Bearing liabilities:
Demand deposits5,317,851 5,339,590 
Other liabilities735,460 791,175 
Total Liabilities28,625,343 27,156,983 
Total Deposits26,198,532 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' equity3,306,896 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
20252024
Loans, by type:
Real estate - commercial mortgage$9,676,574 $8,803,503 
Commercial and industrial4,543,967 4,786,976 
Real estate - residential mortgage6,459,649 5,844,317 
Real estate - home equity1,177,209 1,091,526 
Real estate - construction1,197,159 1,370,134 
Consumer601,877 697,204 
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 demand7,810,681 6,785,106 
Savings8,195,790 7,215,631 
   Total demand and savings21,324,322 19,340,327 
Brokered761,952 1,015,823 
Time4,112,258 3,583,905 
Total Deposits$26,198,532 $23,940,055 
Borrowings, by type:
Federal funds purchased $366 $68,515 
Federal Home Loan Bank advances634,370 829,971 
Senior debt and subordinated debt367,438 535,656 
Other borrowings689,177 991,611 
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 endedNine months ended
Sep 30Jun 30Mar 31Dec 31Sep 30Sep 30Sep 30
2025202520252024202420252024
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 mortgage4,3071333741991074,814 405 
    Commercial and industrial3,2052,6285,9521,3871,00811,785 3,052 
    Real estate - residential mortgage33203174104130410 368 
    Consumer and home equity7268996609745452,285 2,382 
    Real estate - construction47998247103228 336 
    Leases and other loans(2)
192240201194129633 538 
    Total recoveries of loans previously charged off8,5104,2027,4432,9052,02220,155 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)
9,8509,37413,11216,75212,28132,335 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 accruing48,59729,94934,36730,78126,286
    Total non-performing loans198,734212,891196,793220,074202,147
Other real estate owned2,3052,7062,1932,6212,844
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 mortgage87,78990,85288,081102,35971,467
Real estate - residential mortgage44,68937,70346,87845,90141,727
Consumer and home equity12,65811,10912,68214,37412,830
Real estate - construction3,46125,6023,6661,7461,746
Leases and other loans(2)
1,3202,0602,57312,0179,927
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 30Jun 30Mar 31Dec 31Sep 30
20252025202520242024
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———2,6897,706
Plus: Core deposit intangible amortization5,2555,3466,1556,1556,155
Plus: Acquisition-related expense——3809,63714,195
Plus: FDIC special assessment————(16)
Plus: FultonFirst implementation and asset disposals(207)(270)(47)10,0019,385
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)183,349183,813184,077183,867183,609
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)180,865182,379182,204182,089181,957
Common shareholders' equity (tangible), per share$14.39$13.78$13.46$13.01$13.02
15

Three months ended
Sep 30Jun 30Mar 31Dec 31Sep 30
20252025202520242024
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———2,6897,706
Plus: Core deposit intangible amortization5,2555,3466,1556,1556,155
Plus: Acquisition-related expense——3809,63714,195
Plus: FDIC special assessment————(16)
Plus: FultonFirst implementation and asset disposals(207)(270)(47)10,0019,385
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———2,6897,706
Plus: Intangible amortization5,3685,4606,2696,2826,287
Plus: Acquisition-related expense——3809,63714,195
Plus: FDIC special assessment————(16)
Plus: FultonFirst implementation and asset disposals(207)(270)(47)10,0019,385
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 assets8.29%8.00%7.78%7.54%7.51%
(1) Results are annualized.
16

Three months ended
Sep 30Jun 30Mar 31Dec 31Sep 30
20252025202520242024
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 disposals20727047(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 adjustment4,4364,3894,3404,3434,424
Plus: Total non-interest income70,40769,14867,23265,92459,673
Less: Other revenue(138)(9)(122)(269)(677)
Less: Gain on acquisition, net of tax———2,6897,706
Plus: Investment securities (gains) losses, net——2—1
Total revenue (denominator)$338,903$328,449$322,639$326,346$329,136
Efficiency ratio56.5%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 disposals20727047(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 30Sep 30
20252024
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 amortization16,756 11,152 
Plus: Acquisition-related expense380 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$239,174239,174
Weighted average shares (diluted) (denominator)183,718 175,033 
Operating net income available to common shareholders, per share (diluted)$1.62$1.37

17