Fulton Financial Corporation · NASDAQ:FULT
Fulton Financial — Q1 2019 Earnings Presentation
13 slides from Fulton Financial's earnings presentation, Apr 16, 2019
Slide 1: 2019 First Quarter Results
2019 FIRST QUARTER RESULTS NASDAQ: FULT D A T A AS OF M A R C H 3 1 , 2 0 1 9 U N L E S S O T H E R W I S E N O T E D
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: First Quarter Results
FIRST QUARTER RESULTS Net income per diluted share: $0.33 in 1Q19, unchanged from 4Q18 and 17.9% increase from 1Q18 Pre-Provision Net Revenue(1): $73.8 million, 5.8% decrease from 4Q18 and 18.7% increase from 1Q18 Linked Quarter Loan and Core Deposit Growth: 1.4% increase in average loans, while ave
Slide 4: Income Statement Summary
INCOME STATEMENT SUMMARY Change from 1Q19 4Q18 1Q18 (dollars in thousands, except per-share data) Net Interest Income $ 163,315 $ 371 $ 11,997 Provision for Credit Losses 5,100 (3,100) 1,130 Non-Interest Income 46,686 (2,837) 830 Securities Gains 65 65 46 Non-Interest Expense 137,824 (2,861) 1,163 I
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 5.00% $170.0 3.90% $15.0 $16.2 $163.3 $16.0 $162.9 $15.8 $15.9 $160.1 3.80% $15.7 4.35% $160.0 $10.0 4.22% 4.00% $156.1 4.04% 4.13% 3.93% $151.3 3.7
Slide 6: Asset Quality
ASSET QUALITY ($ IN MILLIONS) Provision for Credit Losses Non-Performing Loans (NPLs) & NPLs to Loans $40.0 $160.0 2.00% $139.7 $138.7 $33.1 $134.6 $123.7 $120.1 $30.0 $120.0 1.50% $20.0 $80.0 1.00% 0.86% 0.86% 0.85% $40.0 0.78% 0.75% 0.50% $10.0 $8.2 $4.0 $5.1 $1.6 $0.0 0.00% $- 1Q18 2Q18 3Q18 4Q18
Slide 7: Non-Interest Income
NON-INTEREST INCOME(1) Three months ended March 31, 2019 (percent of total non-interest income) 5% 1Q19 4Q18 Change 10% (in thousands) 25% n Wealth management fees $ 13,239 $ 13,408 $ (169) n Mortgage banking fees 4,772 4,774 (2) n Consumer banking income 11,377 12,418 (1,041) n 32% Commercial banki
Slide 8: Non-Interest Expenses
NON-INTEREST EXPENSES Three months ended March 31, 2019 (percent of total non-interest expense) 1Q19 4Q18 Change 21% (in thousands) n Salaries and benefits $ 77,757 $ 75,745 $ 2,012 n Occupancy 12,909 12,708 201 6% n DP and software 10,353 10,203 150 n Other outside services 8,352 8,944 (592) 56% 8%
Slide 9: Profitability & Capital
PROFITABILITY & CAPITAL ROA(1) ROE and ROE (tangible)(2) 1.40% 1.28% 16.00% 14.99% 1.20% 1.12% 1.11% 13.17% 13.28% 1.01% 11.85% 11.48% 1.00% 12.00% 10.10% 10.15% 9.02% 8.23% 0.80% 0.70% 8.00% 6.28% 0.60% 4.00% 0.40% 0.20% 0.00% 1Q18 2Q18 3Q18 4Q18 1Q19 0.00% 1Q18 2Q18 3Q18 4Q18 1Q19 ROE ROE (tangibl
Slide 10: 2019 Outlook
2019 OUTLOOK Changes from the outlook as of the end of the fourth quarter of 2018 have been underlined. • Loans & Deposits: Average annual loan and deposit growth rates in the low to mid single-digits • Net Interest Income: Mid to high single-digit growth rate • Net Interest Margin: An increase of 4
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) Mar 31 Jun 30 Sep 30 Dec 31 Mar 31 2018 2018 2018 2018 2019 Tangible Common Equity to Tangible Assets (TCE Ratio) (dollars in thousands) Shareholders' equity $ 2,235,493 $ 2,245,785 $ 2,283,014 $ 2,247,573 $ 2,301,019 Less: Intangible assets (531,556) (531,556) (5
Slide 13: Fulton Financial Corporation
FULTON FINANCIAL CORPORATION www.fult.com