Fulton Financial Corporation · NASDAQ:FULT
Fulton Financial — Q1 2015 Earnings Presentation
14 slides from Fulton Financial's earnings presentation, Apr 21, 2015
Slide 1: 2015 First Quarter Results
D A T A A S O F M A R C H 3 1 , 2 0 1 5 U N L E S S O T H E R W I S E N O T E D 2015 FIRST QUARTER RESULTS NASDAQ: FULT
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation may contain forward-looking statements with respect to Fulton Financial 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 wor
Slide 3: First Quarter Highlights
FIRST QUARTER HIGHLIGHTS • Diluted Earnings Per Share Growth • 4.8% increase compared to 4Q14 • Loans & Deposits • 0.3% increase in average loans compared to 4Q14, despite seasonal headwind; 2.6% increase compared to 1Q14 • 0.3% increase in average deposits compared to 4Q14, driven by an increase in
Slide 4: Income Statement Summary – Quarterly Comparison
INCOME STATEMENT SUMMARY – QUARTERLY COMPARISON Net Income of $40.0 million; a 5.5% increase from 4Q14 and a 4.2% decrease from 1Q14 Net Interest Income From 4Q14: Decrease of 3.5% due to 2 fewer business days and a 4 bps decline in net interest margin (NIM) From 1Q14: Decrease of 4.6% due to
Slide 5: Net Interest Income and Margin
NET INTEREST INCOME AND MARGIN 5 Net Interest Income & Net Interest Margin ~ $730 million ~ $610 million Average Interest-Earning Assets & Yields Average Liabilities & Rates ($ IN MILLIONS) ($ IN BILLIONS) ($ IN BILLIONS)
Slide 6: Asset Quality
ASSET QUALITY ($ IN MILLIONS) 6 Provision for Credit Losses Non-Performing Loans (NPLs) & NPLs to Loans Net Charge-offs (NCOs) and NCOs to Average Loans Allowance for Credit Losses (Allowance) to NPLs & Loans $2.5 $3.5 $3.5 $3.0 $(3.7) $(10.0) $(8.0) $(6.0) $(4.0) $(2.0) $- $2.0 $4.0 $6.0 $8.0 $10.0
Slide 7: Non-Interest Income, Excluding Securities Gains
NON-INTEREST INCOME, EXCLUDING SECURITIES GAINS ($ IN MILLIONS) 7 Non-interest Income, Excluding Securities Gains ~ $730 million ~ $610 million Mortgage Banking Income & Spreads Other Non-interest Income -1.6% (1) Represents Gains on Sales divided by total commitments to originate residential mortga
Slide 8: Non-Interest Expenses
NON-INTEREST EXPENSES ($ IN MILLIONS) 8 Non-interest Expense & Efficiency Ratio (1) ~ $730 million ~ $610 million Salaries and Employee Benefits & Staffing Other Non-interest Expenses + 0.6% (1) Non-GAAP based financial measure. Please refer to the calculation and management’s reasons for using this
Slide 9: Compliance & Risk Management
COMPLIANCE & RISK MANAGEMENT $1.8 $2.1 $3.2 $4.1 $4.6 $1.4 $8.2 $3.8 13 45 47 0 5 10 15 20 25 30 35 40 45 50 $- $3.0 $6.0 $9.0 $12.0 2011 2012 2013 2014 2015 (Projected) Salaries & Benefits Expense Outside Consulting Services# Staffing $0.8 1Q15: $0.9 1Q15: $0.6 $0.1 9 # Represents third-party consu
Slide 10: Profitability & Capital
PROFITABILITY & CAPITAL 10 ROA ROE (tangible) (1) Tangle Common Equity Ratio (1) Diluted Earnings Per Common Share Note: ROA is return an average assets determined by dividing net income for the period indicated by average assets (1) Non-GAAP based financial measure. Please refer to the calculation
Slide 11: 2015 Outlook
2015 OUTLOOK • Loans & Deposits: Annual average growth of 3%-7% • Net Interest Margin: Compression of 0-4 bps per quarter, on average, based on the current interest rate environment • Asset Quality: Continued modest provision; volatility may occur due to individual credits • Non-Interest Income: Mid
Slide 12: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Note: The Corporation has presented the following non-GAAP (Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financia
Slide 13: Non-GAAP Reconciliation (Con't)
NON-GAAP RECONCILIATION (CON’T) 13 Mar 31 Jun 30 Sep 30 Dec 31 Mar 31 2014 2014 2014 2014 2015 Tangible Common Equity to Tangible Assets (TCE Ratio) Shareholders' equity 2,058,719$ 2,099,800$ 2,078,006$ 1,996,665$ 2,031,513$ Less: Intangible assets (532,747) (532,432) (532,117) (531,803) (531,672) T
Slide 14: V E R S I O N . . www.fult.com
V E R S I O N 4 . 2 1 . 2 0 1 5 www.fult.com