Fulton Financial Corporation · NASDAQ:FULT
Fulton Financial — Q2 2019 Earnings Presentation
13 slides from Fulton Financial's earnings presentation, Jul 16, 2019
Slide 1: 2019 Second Quarter Results
2019 SECOND QUARTER RESULTS NASDAQ: FULT D ATA AS OF J UNE 3 0 , 2 0 1 9 U NLESS OTHERWISE NOTED
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation 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 "m
Slide 3: Second Quarter Results
SECOND QUARTER RESULTS Net income per diluted share: $0.35 in 2Q19, 6.1% increase from 1Q19 and 75.0% increase from 2Q18 Pre-Provision Net Revenue(1): $76.1 million, 3.2% increase from 1Q19 and 3.6% increase from 2Q18 Linked Quarter Loan and Core Deposit Growth: 0.8% increase in average loans, while
Slide 4: Income Statement Summary
INCOME STATEMENT SUMMARY Change from 2Q19 1Q19 2Q18 (dollars in thousands, except per-share data) Net Interest Income $ 164,544 $ 1,229 $ 8,477 Provision for Credit Losses 5,025 (75) (28,092) Non-Interest Income 54,139 7,453 5,049 Securities Gains 176 111 172 Non-Interest Expense 144,168 6,344 10,82
Slide 5: Net Interest Income and Margin
NET INTEREST INCOME AND MARGIN Net Interest Income & Net Interest Margin Average Interest-Earning Assets & Yields ($ IN MILLIONS) ($ IN BILLIONS) $20.0 4.35% 4.37% 5.00% 4.04% 4.13% 4.22% $170.0 3.90% 4.00% $164.5 $15.0 $162.9 $163.3 $15.9 $16.0 $16.2 $16.3 $160.1 3.80% $15.8 3.00% $10.0 $160.0 $156
Slide 6: Asset Quality
ASSET QUALITY ($ IN MILLIONS) Provision for Credit Losses Non-Performing Loans (NPLs) & NPLs to Loans $40.0 $160.0 $147.7 2.00% $139.7 $138.7 $33.1 $123.7 $120.1 $30.0 $120.0 1.50% $20.0 $80.0 1.00% 0.86% 0.85% 0.90% $40.0 0.78% 0.75% 0.50% $10.0 $8.2 $5.1 $5.0 $1.6 $0.0 0.00% $- 2Q18 3Q18 4Q18 1Q19
Slide 7: Non-Interest Income
NON-INTEREST INCOME(1) Three months ended June 30, 2019 (percent of total non-interest income) 5% 2Q19 1Q19 Change 12% 23% (in thousands) n Wealth management $ 14,153 $ 13,239 $ 914 n Mortgage banking 6,593 4,772 1,821 n Consumer banking 12,367 11,377 990 ~ $730 26% n Commercial banking 18,442 milli
Slide 8: Non-Interest Expenses
NON-INTEREST EXPENSES Three months ended June 30, 2019 (percent of total non-interest expense) 2Q19 1Q19 Change 19% (in thousands) n Salaries and benefits $ 78,991 $ 77,757 $ 1,234 n Occupancy 14,469 12,909 1,560 8% n Data Processing and software 11,268 10,353 915 55% n Other outside services 11,259
Slide 9: Profitability & Capital
PROFITABILITY & CAPITAL ROA(1) ROE and ROE (tangible)(2) 1.40% 1.28% 16.00% 14.99% 1.12% 13.28% 13.60% 1.20% 1.11% 1.14% 13.17% 11.48% 1.00% 12.00% 10.10% 10.15% 10.42% 8.23% 0.80% 0.70% 8.00% 6.28% 0.60% 4.00% 0.40% 0.20% 0.00% 2Q18 3Q18 4Q18 1Q19 2Q19 0.00% 2Q18 3Q18 4Q18 1Q19 2Q19 ROE ROE (tangib
Slide 10: 2019 Outlook
2019 OUTLOOK Changes from the outlook as of the end of the first quarter of 2019 have been underlined. • Loans & Deposits: Average annual loan and deposit growth rates in the low to mid single-digits • Net Interest Income: Mid single-digit growth rate • Net Interest Margin: An increase of 2 to 5 bas
Slide 11: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Note: The Corporation has presented the following non-GAAP (Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financia
Slide 12: Non-GAAP Reconciliation (Continued)
NON-GAAP RECONCILIATION (CONTINUED) Jun 30 Sep 30 Dec 31 Mar 31 Jun 30 2018 2018 2018 2019 2019 Tangible Common Equity to Tangible Assets (TCE Ratio) (dollars in thousands) Shareholders' equity $ 2,245,785 $ 2,283,014 $ 2,247,573 $ 2,301,019 $ 2,308,798 Less: Intangible assets (531,556) (531,556) (5
Slide 13: Fulton Financial Corporation
FULTON FINANCIAL CORPORATION www.fult.com