Slide 1: Second Quarter 2025 Results
SECOND QUARTER 2025 RESULTS NASDAQ: FULT Data as of or for the period ended June 30, 2025 unless otherwise noted
Slide 2: Forward-looking statements
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 o
Slide 3: Second Quarter 2025 Financial Highlights
Second Quarter 2025 Financial Highlights GAAP Reported Operating(1) 2Q25 1Q25 2Q25 1Q25 Net Income Available to Common Shareholders (dollars in millions) $96.6 $90.4 $100.6 $95.5 Return on Average Assets (annualized) 1.25% 1.18% 1.30% 1.25% Return on Average Tangible Common Equity (annualized; non-G
Slide 4: Income Statement Summary
Income Statement Summary Linked-Quarter 2Q25 1Q25 Change (dollars in thousands, except per-share data) Net interest income $254,921 $251,187 $3,734 Provision for credit losses 8,607 13,898 (5,291) Non-interest income before investment 69,148 67,234 1,914 securities gains (losses) Securities gains (l
Slide 5: Net Interest Income and Net Interest Margin ("NIM")
Net Interest Income and Net Interest Margin (“NIM”) 2Q25 Highlights Average Interest-Earning Assets & Yields (dollars in billions) • NIM was 3.47% in the second quarter of 2025, increasing four basis points compared to the first quarter of 2025. A decline in the total cost of funds benefited NIM dur
Slide 6: Non-Interest Income
Non-Interest Income Change Since (dollars in thousands) 2Q25 1Q25 4Q24 3Q24 1Q25 Commercial banking $23,431 $21,329 $22,454 $22,289 $2,102 Wealth management 22,281 21,785 22,002 21,596 496 Consumer banking 14,528 13,068 14,309 14,928 1,460 Mortgage banking 3,991 3,138 3,759 3,142 853 Gain on acquisi
Slide 7: Non-Interest Expense
Non-Interest Expense Change Since (dollars in thousands) 2Q25 1Q25 4Q24 3Q24 1Q25 Salaries and employee benefits $107,123 $103,526 $107,886 $118,824 $3,597 Data processing and software 18,262 18,599 19,550 20,314 (337) Net occupancy 16,410 18,207 16,417 18,999 (1,797) Other outside services 12,009 1
Slide 8: Asset Quality
Asset Quality Provision for Credit Losses Non-Performing Assets (“NPAs”) & NPAs to Assets Net Charge-offs (“NCOs”) and NCOs to Average Loans ACL(1) to NPLs & Loans (1) The allowance for credit losses (“ACL”) relates specifically to “Loans, net of unearned income” and does not include reserves relate
Slide 9: Capital Ratios
Capital Ratios(1) (as of June 30, 2025) (dollars in millions) (2) (1) Regulatory capital ratios and excess capital amounts as of June 30, 2025 are preliminary estimates. (2) Excesses shown are to regulatory minimums, including the 250 basis point capital conservation buffer, except for Tier 1 Levera
Slide 10: 2025 Operating Guidance
2025 Operating Guidance Income Statement Line Item Expected Range Outlook Incorporates Fed Funds Rate cuts of 25 bps in September and 25 bps in December; down Non-FTE Net Interest Income ("NII") (1) $1.005 million - $1.025 billion from four 25 bps cuts previously [ FTE Adjustment for NIM calculation
Slide 11: Deposit Portfolio That Is Granular, Tenured and Diversified With Significant Liquidity Coverage
Deposit Portfolio That Is Granular, Tenured and Diversified With Significant Liquidity Coverage Deposit Mix By Customer Deposit Portfolio Highlights(1) (June 30, 2025) 881,632 deposit accounts $30,099 average account balance ~9 year average account age 24% net estimated uninsured deposits 270% cover
Slide 12: Balance Sheet Maintains Flexibility
Balance Sheet Maintains Flexibility Loan Mix by Rate Type Deposit Mix by Product Type(1) (June 30, 2025) (June 30, 2025) The majority of adjustable-rate loans Time deposits provide gradual tailwind in reprice beyond two years current environment Balance Balance Weighted Average CD Maturities Average
Slide 13: The Loan Portfolio Remains Diversified and Granular With Low Office Concentration at 3% of Total Loans
The Loan Portfolio Remains Diversified and Granular With Low Office Concentration at 3% of Total Loans Total Loan Portfolio Office Only Profile (June 30, 2025) Total Office Loan Commitments: $803 million Total Office Loans Outstanding: $757 million Average Loan Size: $2.2 million (1) Weighted Averag
Slide 14: Multi-Family Loans Represent 8% of the Total Loan Portfolio
Multi-Family Loans Represent 8% of the Total Loan Portfolio With a Small Average Loan Size, Low LTV and Solid DSCR Total Loan Portfolio Multi-Family Profile (June 30, 2025) Total Multi-Family Loan Commitments: $2.2 billion Total Multi-Family Loans Outstanding: $1.9 billion Average Loan Size: $3.3 mi
Slide 15: Liquidity Profile
Liquidity Profile Available Liquidity June 30, 2025 Estimated Uninsured Deposits June 30, 2025 (dollars in millions) (dollars in millions) Cash On-Hand(1) $ 484 Total Deposits $ 26,138 Estimated Uninsured Deposits $ 9,242 Federal Reserve Capacity 3,929 Estimated Uninsured Deposits to Total Deposits
Slide 16: Non-GAAP Reconciliation
Non-GAAP Reconciliation 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
Slide 17: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three months ended (dollars in thousands) Jun 30 Mar 31 2025 2025 Operating return on average assets Net income $ 99,198 $ 92,987 Less: Other revenue (9) (122) Plus: Core deposit intangible amortization 5,346 6,155 Plus: Acquisition-related expense - 380 Plus: FultonFirst imp
Slide 18: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three months ended (dollars in thousands) Jun 30 Mar 31 2025 2025 Operating non-interest expense to total average assets Non-interest expense $ 192,811 $ 189,460 Less: Intangible amortization (5,460) (6,269) Less: Acquisition-related expense - (380) Less: FultonFirst implemen
Slide 19: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three months ended (dollars in thousands) Jun 30 Mar 31 2025 2025 Pre-provision net revenue to average assets Plus: Net interest income $ 254,921 $ 251,187 Plus: Non-interest income 69,148 67,232 Less: Non-interest expense (192,811) (189,460) Less: Other revenue (9) (122) Plu
Slide 20: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three months ended (dollars in thousands) Jun 30 Mar 31 2025 2025 Operating return on average common shareholders' equity (tangible) Net income available to common shareholders $ 96,636 $ 90,425 Less: Other revenue (9) (122) Plus: Intangible amortization 5,460 6,269 Plus: Acq
Slide 21: Non-GAAP Reconciliation
Non-GAAP Reconciliation Three months ended (dollars in thousands) Jun 30 Mar 31 2025 2025 Efficiency ratio Non-interest expense $ 192,811 $ 189,460 Less: Acquisition-related expense - (380) Less: FultonFirst implementation and asset disposals 270 47 Less: Intangible amortization (5,460) (6,269) Oper
Slide 22: Non-GAAP Reconciliation
Non-GAAP Reconciliation (dollars in thousands, except per share data) Jun 30 Mar 31 2025 2025 Common shareholders' equity (tangible), per share Shareholders' equity $ 3,329,246 $ 3,274,321 Less: Preferred stock (192,878) (192,878) Less: Goodwill and intangible assets (623,729) (629,189) Tangible com