Fulton Financial Corporation · NASDAQ:FULT
Fulton Financial — Shareholder Meeting (April 2005)
46 slides from Fulton Financial's shareholder meeting presentation, Apr 13, 2005
Slide 1: Fulton Financial Corporation 2005 Annual Meeting
Fulton Financial Corporation 2005 Annual Meeting April 13, 2005
Slide 2: Safe Harbor statement
Safe Harbor statement The following presentation may contain forward-looking statements about Fulton Financial Corporation’s growth and acquisition strategies, new products and services, and future financial performance, including earnings and dividends per share, return on average assets, return on
Slide 3: Fulton Financial Corporation 2005 Annual Meeting
Fulton Financial Corporation 2005 Annual Meeting April 13,
Slide 4: Board of Directors
Board of Directors Fulton Financial Corporation
Slide 5: Slides 5-21 (director pictures omitted)
Slides 5-21 [Slides 5-21 contain pictures of directors, which have been omitted from the filed document] 5-21
Slide 6: Senior Management
Senior Management Fulton Financial Corporation
Slide 7: Slides 23-24 (senior management pictures omitted)
Slides 23-24 [Slides 23-24 contain pictures of Senior Management, which have been omitted from the filed document] 23-24
Slide 8: Fulton Financial Corporation 2005 Annual Meeting
Fulton Financial Corporation 2005 Annual Meeting April 13, 2005
Slide 9: Affiliate Chief Executive Officers
Fulton Financial Corporation Affiliate Chief Executive Officers
Slide 10: Slides 27-40 (affiliate bank CEO pictures omitted)
Slides 27-40 [Slides 27-40 contain pictures of Chief Executive Officer of Affiliate Banks, which have been omitted from the filed document] 27-40
Slide 11: Fulton Financial Corporation 2005 Annual Meeting
Fulton Financial Corporation 2005 Annual Meeting April 13, 2005
Slide 12: Rufus A. Fulton, Jr., Chairman and CEO
Rufus A. Fulton, Jr. Chairman and Chief Executive Officer
Slide 13: Charles V. Henry, III, Esq.
Charles V. Henry, III, Esq.
Slide 14: J. Robert Hess
J. Robert Hess
Slide 15: Working together beautifully
Working together beautifully. Fulton financial corporation 2004 annual report
Slide 16: 2005 Annual Report: Working Together Beautifully
2005 Annual Report: Working Together Beautifully
Slide 17: Working Together Beautifully
Working Together Beautifully
Slide 18: Working Together Beautifully
Working Together Beautifully
Slide 19: Highlights of 2004
Highlights of 2004 Fulton Financial Corporation
Slide 20: Slide 20
Slide 21: Resource Bank
Resource Bank Acquired on April 1, 2004 Current assets of $1.1 billion; headquartered in Virginia Beach, Virginia The only Virginia-based bank with offices in Virginia’s three major markets Market area accounts for over 71% of all deposits in state of Virginia
Slide 22: New FFC director Tom Hunt
New FFC director Tom Hunt
Slide 23: First Washington State Bank
First Washington State Bank Assets of $585 million Headquartered in Windsor, NJ 16 branches in Mercer, Monmouth and Ocean Counties Enhances our existing northern and southern New Jersey franchise by extending our presence into the central part of the state
Slide 24: New FFC director Abe Opatut
New FFC director Abe Opatut
Slide 25: SVB Financial Services, Inc.
SVB Financial Services, Inc. Assets of $475 million Headquartered in Somerville, NJ Banking subsidiary: Somerset Valley Bank 11 branches in Somerset, Hunterdon and Middlesex counties Our 4th New Jersey affiliate
Slide 26: Our Presence in New Jersey
Our Presence in New Jersey The bank Skylands community bank First washington state bank Somerset valley bank(pending) SUSSEX WARREN MORRIS SOMERSET HUNTERDON MIDDLESEX MERCER MONMOUTH NEW JERSEY CAMDEN OCEAN GLOUCESTER SALEM ATLANTIC CAPE MAY
Slide 27: Acquisitions
Acquisitions Somerset Valley Bank (pending) First Washington State Bank Resource Bank Premier Bank Drovers & Mechanics Bank 18 Sovereign Bank Branches Dearden, Maguire, Weaver and Barrett, Inc. Skylands Community Bank Ambassador Bank of the Commonwealth Lebanon Valley National Bank Peoples Bank of E
Slide 28: Possible future expansion
Possible future expansion Pennsylvania Maryland New jersey Delaware Viginia Current markets Pending applications Future expansion
Slide 29: Fulton Financial Corporation 2005 Annual Meeting
Fulton Financial Corporation 2005 Annual Meeting April 13, 2005
Slide 30: R. Scott Smith, Jr., President and COO
R. Scott Smith, Jr. President and Chief Operating Officer
Slide 31: Fulton Financial profile
Fulton Financial profile Asset size: $11.2 billion Market Capitalization: $2.9 billion Second largest commercial bank headquartered in Third Federal Reserve District One of the Top 50 banks in the country
Slide 32: Where are we located?
Where are we located? The Bank Delaware National Bank FNB Bank Fulton Bank Hagerstown Trust Lafayette Ambassador Bank Lebanon Valley Farmers Bank The Peoples Bank of Elkton Premier Bank Resource Bankshares Corporation Skylands Community Bank Swineford National Bank First Washington State Bank Somers
Slide 33: Assets by affiliate
Assets by affiliate (as of 12/31/04, in thousands) Fulton Bank $3,975,000 Lafayette Ambassador Bank 1,178,000 Resource Bank 1,161,000 The Bank 1,075,000 Lebanon Valley Farmers Bank 744,000 First Washington State Bank 585,000 Premier Bank 520,000 Hagerstown Trust Company 459,000 Skylands Community Ba
Slide 34: What have we accomplished?
What have we accomplished? 23 consecutive years of record earnings 8.8% compounded annual growth rate in earnings per share 30 consecutive years of dividend increases 10.3% compounded annual growth rate in dividends per share Proven business model Consistent performance
Slide 35: Fulton Financial Corporation
Fulton Financial Corporation Record earnings High asset quality Strong net interest margin Prudent expense control
Slide 36: 2004 performance
2004 performance $1.27 Net income per share (4.1% increase over 2003) 1.48% Return on Assets 14.31% Return on Equity 18.64% Return on Tangible Equity 55.10% Efficiency Ratio $0.647 Cash dividends per share (9.1% increase over 2003)
Slide 37: 2004 total return
2004 total return Institution/Index Percent Change Peer Group 17.11 Large Banks 15.30 FULTON FINANCIAL 15.22 Nasdaq Bank Index 14.11 S&P 500 11.21 Nasdaq Nat’l Market 8.97 Dow Jones 5.73
Slide 38: Five-year total return
Five-year total return Institution/Index Percent change FULTON FINANCIAL 130.08 Peer Group 117.04 Nasdaq Banks 114.41 Large Banks 93.51 NYSE Banks 49.88 Dow Jones 3.45 S&P 500 - 10.97 Nasdaq Nat’l. Market - 45.49
Slide 39: Stock Performance (1982-2004)
Stock Performance (1982-2004) 1982 2004 100 shares 1,645 shares $1,750 $38,345 15 return WITHOUT % dividend reinvestment
Slide 40: Stock Performance (1982-2004)
Stock Performance (1982-2004) 1982 2004 100 shares 3,596 shares $1,750 $83,833 19 return WITH %dividend reinvestment
Slide 41: Stock highlights
Stock highlights (as of 12/31/04) Average daily trading volume 139,000 shares Number of analysts 13 Number of market makers 52 Number of shares outstanding 125.7 million Market capitalization $2.9 billion Annual meeting attendance 2,000 shareholders
Slide 42: Employee stock ownership
Employee stock ownership 80% of our employees collectively own more than 3 million shares of Fulton Financial Corporation stock Stock options help us to retain key high-performing employees
Slide 43: Analysts
Analysts Citigroup Smith Barney Sell Cohen Bros Hold Ferris Baker Watts Hold Janney Montgomery Scott Hold Keefe Bruyette & Woods Marketperform KeyBanc Capital Markets Buy Legg Mason Wood Walker Hold Lehman Brothers Underweight Moors & Cabot Hold RBC Capital Markets Underperform Ryan Beck Outperform
Slide 44: Moody's and Fitch Ratings
Moody’s Investor Service Short-term rating P-1 Long-term rating: Issuer A-2 Lead Bank Deposits A-1 Outlook: Stable Fitch Ratings Short-term rating F-1 Long-term rating A Outlook: Stable
Slide 45: Sarbanes-Oxley Act
Sarbanes – Oxley Act Internal control over financial reporting is effective No material weaknesses
Slide 46: Fulton Financial Corporation 2005 Annual Meeting
Fulton Financial Corporation 2005 Annual Meeting April 13, 2005