Fulton Financial Corporation · NASDAQ:FULT
Fulton Financial — Q3 2018 Earnings Presentation
13 slides from Fulton Financial's earnings presentation, Oct 16, 2018
Slide 1: 2018 Third Quarter Results
2018 THIRD QUARTER RESULTS NASDAQ: FULT D A T A AS OF S E P T E M B E R 3 0 , 2 0 1 8 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: Third Quarter Results
THIRD QUARTER RESULTS Net income per diluted share: $0.37 in 3Q18, 85.0% increase from 2Q18 and 32.1% increase from 3Q17 Pre-Provision Net Revenue(1): $77.4 million, 5.3% increase from 2Q18 and 18.1% increase from 3Q17 Linked Quarter Loan and Core Deposit Growth: 0.6% increase in average loans, whil
Slide 4: Income Statement Summary
INCOME STATEMENT SUMMARY Change from Net Income of $65.6 million, 86.5% increase from 2Q18 and 34.2% 3Q18 2Q18 3Q17 increase from 3Q17. (dollars in thousands, except per-share data) Net Interest Income Net Interest Income 160,127 $ 4,060 $ 13,318 . From 2Q18: Increase of 2.6%, driven by loan and
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 6.00% $180.0 4.00% 4.04% 4.13% $15.0 3.80% 3.83% 3.93% 4.00% $15.9 $160.0 $15.7 $15.8 3.50% $10.0 $15.4 $15.6 3.39% 3.42% 2.00% $140.0 3.29% 3.35% 3
Slide 6: Asset Quality
ASSET QUALITY ($ IN MILLIONS) Provision for Credit Losses Non-Performing Loans (NPLs) & NPLs to Loans $160.0 2.00% $40.0 $136.5 $134.8 $134.6 $33.1 $123.7 $120.1 $120.0 1.50% $30.0 $20.0 $80.0 1.00% 0.88% 0.85% 0.86% $40.0 0.78% 0.75% 0.50% $10.0 $6.7 $5.1 $4.0 $1.6 $- $0.0 0.00% 3Q17 4Q17 1Q18 2Q18
Slide 7: Non-Interest Income
NON-INTEREST INCOME ($ IN MILLIONS) Non-Interest Income, Excluding Securities Gains Mortgage Banking Income & Spreads $6.0 4.00% $5.2 3.50% $5.0 $4.8 $4.9 $4.4 $4.2 3.00% $4.0 2.50% $60.0 $3.0 2.00% 1.50% $2.0 1.62% 1.38% $50.0 1.36% 1.30% 1.00% $1.0 1.11% ~ $730 million 0.50% $- 0.00% $40.0 3Q17 4Q
Slide 8: Non-Interest Expenses
NON-INTEREST EXPENSES ($ IN MILLIONS) Non-Interest Expense & Efficiency Ratio (1) Salaries and Employee Benefits & Staffing $90.0 3,700 $72.9 $73.5 $75.8 $76.8 $80.0 $74.9 3,600 $160.0 80.0% $70.0 3,560 3,570 3,500 $60.0 $50.0 3,400 $140.0 70.0% $40.0 3,300 $30.0 67.5% 3,200 $120.0 64.3% 60.0% $20.0
Slide 9: Profitability & Capital
PROFITABILITY & CAPITAL ROA(1) ROE and ROE (tangible)(2) 1.40% 1.28% 16.00% 14.99% 1.20% 0.98% 1.01% 11.52% 11.85% 11.48% 1.00% 12.00% 8.76% 9.02% 7.91% 8.23% 0.80% 0.67% 0.70% 8.00% 6.03% 6.28% 0.60% 4.00% 0.40% 0.20% 0.00% 3Q17 4Q17(3) 1Q18 2Q18 3Q18 0.00% 3Q17 4Q17(3) 1Q18 2Q18 3Q18 ROE ROE (tang
Slide 10: 2018 Outlook
2018 OUTLOOK Changes from the outlook as of the end of the second quarter of 2018 have been underlined. • Loans & Deposits: Average annual loan and core deposit growth rates in the low to mid single- digits • Asset Quality: Provision will reflect impacts of changes in asset quality measures, risk ra
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) Sep 30 Dec 31 Mar 31 Jun 30 Sep 30 2017 2017 2018 2018 2018 Tangible Common Equity to Tangible Assets (TCE Ratio) (dollars in thousands) Shareholders' equity $ 2,225,786 $ 2,229,857 $ 2,235,493 $ 2,245,785 $ 2,283,014 Less: Intangible assets (531,556) (531,556) (5
Slide 13: Fulton Financial Corporation
FULTON FINANCIAL CORPORATION www.fult.com