--- title: "Fulton Financial Pref Share FULTP 5.125 Perp 01/15/26 | 8-K: FY2026 Q2 Revenue: USD 363.56 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/293518463.md" datetime: "2026-07-22T20:36:25.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293518463.md) - [en](https://longbridge.com/en/news/293518463.md) - [zh-HK](https://longbridge.com/zh-HK/news/293518463.md) --- # Fulton Financial Pref Share FULTP 5.125 Perp 01/15/26 | 8-K: FY2026 Q2 Revenue: USD 363.56 M Revenue: As of FY2026 Q2, the actual value is USD 363.56 M. EPS: As of FY2026 Q2, the actual value is USD 0.52. EBIT: As of FY2026 Q2, the actual value is USD 127.71 M. Fulton Financial Corporation Depositary Shs Repr 1/40th 5.125 % Non-Cum Red Perp Pfd Rg Shs Ser A (referred to as “the Corporation”) announced its results for the second quarter ended June 30, 2026. #### Net Income Available to Common Shareholders - Net income available to common shareholders was $99.9 million for the second quarter of 2026, an increase of $7.7 million compared to the first quarter of 2026. For the six months ended June 30, 2026, it was $192.1 million, an increase of $5.0 million compared to the six months ended June 30, 2025. - Operating net income available to common shareholders for the second quarter of 2026 was $115.9 million, an increase of $16.2 million compared to the first quarter of 2026. For the six months ended June 30, 2026, it was $215.5 million, an increase of $19.4 million compared to the six months ended June 30, 2025. - Net income for the second quarter of 2026 was $102,414 thousand, up from $94,761 thousand in the first quarter of 2026. - Preferred stock dividends were - $2,562 thousand for both the second quarter of 2026 and the first quarter of 2026. #### Net Interest Income and Margin - Net interest income increased by $22.2 million to $284.3 million in the second quarter of 2026, primarily driven by a $17.5 million increase attributable to the Blue Foundry Bancorp Transaction. Net interest income was $284,252 thousand in the second quarter of 2026, an increase of $22,229 thousand from $262,023 thousand in the first quarter of 2026. - Net interest margin remained solid at 3.60% in the second quarter of 2026, a two basis point increase from 3.58% in the prior quarter. The Net Interest Margin (NIM) was 3.60% in the second quarter of 2026, increasing two basis points compared to the first quarter of 2026. - Loan yield was 5.80% in the second quarter of 2026, increasing ten basis points compared to the first quarter of 2026. - Total cost of deposits was 1.81% in the second quarter of 2026, a three basis points increase compared to the first quarter of 2026. #### Non-Interest Income - Non-interest income increased by $9.5 million to $79.3 million in the second quarter of 2026, compared to $69.8 million in the prior quarter. Total Non-Interest Income was $79,306 thousand in the second quarter of 2026, compared to $69,841 thousand in the first quarter of 2026. - The increase was primarily due to a $7.3 million increase in income from equity method investments, including $6.9 million from a sold investment, and a $1.0 million increase in mortgage banking income. - Non-interest income segments for the second quarter of 2026 included: Wealth management at $23,139 thousand, Commercial banking at $24,822 thousand, Consumer banking at $15,345 thousand, Mortgage banking at $4,938 thousand, and Other non-interest income at $11,062 thousand. #### Non-Interest Expense - Non-interest expense increased by $30.7 million to $231.0 million in the second quarter of 2026, compared to $200.3 million in the prior quarter. Total Non-Interest Expense was $230,954 thousand in the second quarter of 2026, up from $200,294 thousand in the first quarter of 2026. - Operating non-interest expense increased by $19.9 million to $210.6 million in the second quarter of 2026, compared to $190.7 million in the prior quarter. Operating non-interest expense was $210,607 thousand in the second quarter of 2026, compared to $190,745 thousand in the first quarter of 2026. - The increase was primarily due to an $11.2 million increase in acquisition-related expenses, a $10.3 million increase in salaries and employee benefits (including $6.2 million from the Blue Foundry Bancorp Transaction and $3.5 million in incentive compensation), a $2.2 million increase in other outside services, and a $1.8 million increase in data processing and software expense, largely due to the Blue Foundry Bancorp Transaction. - Salaries and employee benefits were $120,184 thousand in the second quarter of 2026, compared to $109,917 thousand in the first quarter of 2026. - Acquisition-related expenses were $13,839 thousand in the second quarter of 2026, up from $2,644 thousand in the first quarter of 2026, with the Blue Foundry Bancorp Transaction contributing approximately $10.5 million to operating non-interest expense in the second quarter of 2026. - Other non-interest expense included a $2.1 million charge for merging two employee pension plans and $0.8 million of debt extinguishment costs. #### Provision for Credit Losses - Provision for credit losses was $4.9 million in the second quarter of 2026, a decrease from $14.4 million in the first quarter of 2026. Provision for credit losses was $4,897 thousand in the second quarter of 2026, a decrease from $14,442 thousand in the first quarter of 2026. #### Asset Quality - The allowance for credit losses attributable to net loans was $382.6 million, or 1.48% of total net loans, as of June 30, 2026, compared to $367.5 million, or 1.51%, as of March 31, 2026. The increase in ACL was largely due to a $28.7 million increase from the Blue Foundry Bancorp Transaction. The Allowance for Credit Losses (ACL) to loans was 1.48% in the second quarter of 2026. - Non-performing assets totaled $187.1 million, or 0.54% of total assets, as of June 30, 2026, compared to $177.5 million, or 0.55%, as of March 31, 2026. Non-performing assets include $16.4 million from the Blue Foundry Bancorp Transaction. - Annualized net charge-offs for the second quarter of 2026 were 0.34% of total average loans, compared to 0.25% in the prior quarter. Net Charge-Offs (NCOs) to average loans (annualized) were 34 basis points in the second quarter of 2026. #### Balance Sheet Highlights - Total net loans increased by $1.7 billion to $25.9 billion as of June 30, 2026, from $24.3 billion as of March 31, 2026, primarily due to $1.6 billion in loans from the Blue Foundry Bancorp Transaction. Excluding the Blue Foundry Bancorp Transaction, net loans increased by $102.6 million, with a $206.9 million increase in consumer loans offset by a $104.3 million decrease in commercial loans. - Deposits totaled $28.3 billion, a $1.5 billion increase from $26.8 billion as of March 31, 2026, including a $1.2 billion increase from the Blue Foundry Bancorp Transaction. Excluding the Blue Foundry Bancorp Transaction, net deposits increased by $249.2 million, driven by increases in brokered deposits ($257.4 million), savings deposits ($189.4 million), and time deposits ($76.4 million), partially offset by decreases in interest-bearing demand deposits (- $155.6 million) and noninterest-bearing demand deposits (- $118.5 million). - Total assets were $34.556 billion as of June 30, 2026, compared to $32.237 billion as of March 31, 2026. Total assets were approximately $35 billion as of June 30, 2026. - Shareholders’ equity was $3.816 billion as of June 30, 2026, compared to $3.505 billion as of March 31, 2026. - Borrowings increased to $1.714 billion as of June 30, 2026, from $1.253 billion as of March 31, 2026. #### Capital and Shareholder Returns - The common equity Tier 1 capital ratio increased to approximately 12.1% as of June 30, 2026, compared to 11.9% in the prior quarter. - Tangible capital increased $285 million linked quarter. - Accumulated Other Comprehensive Income (AOCI) was - $213 million at June 30, 2026. - During the second quarter of 2026, the Corporation repurchased 525,000 shares of its common stock for $11.1 million, at an average cost of $21.19 per share. As of June 30, 2026, $35.6 million of common stock had been repurchased under the 2026 Repurchase Program. A share repurchase authorization of $115 million remains through January 31, 2027. - The Corporation issued $300.0 million aggregate principal amount of 5.950% Fixed-to-Floating Rate Subordinated Notes due 2036 on May 5, 2026, and redeemed $195.0 million aggregate principal amount of outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030 on June 15, 2026. - The current common stock dividend is $0.19 per share. #### Other Operational Metrics - Return on Average Assets (ROAA) was 1.20% in both the second quarter of 2026 and the first quarter of 2026. - Operating ROAA was 1.39% in the second quarter of 2026, an increase from 1.30% in the first quarter of 2026. - Return on Average Tangible Common Equity (ROATCE) was 15.71% in the second quarter of 2026, up from 14.76% in the first quarter of 2026. - The Efficiency Ratio was 57.3% in the second quarter of 2026, compared to 56.7% in the first quarter of 2026. - Non-Interest Expense / Total Average Assets was 2.47% in the second quarter of 2026, slightly up from 2.42% in the first quarter of 2026. - Operating Pre-Provision Net Revenue (PPNR) was $152.9 million in the second quarter of 2026, compared to $141.0 million in the first quarter of 2026. - Operating PPNR / Average Assets was 1.80% in the second quarter of 2026, an increase from 1.79% in the first quarter of 2026. - Market capitalization was approximately $4.6 billion. - Wealth Management Assets Under Management/Administration (AUM/AUA) were in excess of $18 billion. - The loan portfolio has grown $7.0 billion since 2020. - The Corporation has 918,337 deposit accounts with an average balance of $31,079 and an average account age of approximately nine years. - Net estimated uninsured deposits are 25%, with coverage of 283%. #### 2026 Operating Guidance Fulton Financial Corporation projects non-fully taxable-equivalent (FTE) net interest income (NII) to be between $1.120 billion and $1.135 billion for 2026. Provision for credit losses is estimated at $40 million to $60 million, and non-interest income is expected to range from $290 million to $300 million. Non-interest expense is guided between $810 million and $830 million, with the effective tax rate for 2026 anticipated to be between 18.5% and 19.5%. ### Related Stocks - [FULTP.US](https://longbridge.com/en/quote/FULTP.US.md)