Fulton Financial Corporation (FULT, Financial) has released its first-quarter financial results, highlighting a slight improvement in its net interest margin and a significant decrease in credit loss provisions. The net interest margin for the first quarter increased to 3.43%, up from 3.41% in the preceding quarter and 3.32% in the same period last year, indicating a positive trend in the company's interest income relative to its interest expenses.
The provision for credit losses showed a remarkable decrease, dropping to $13.9 million from $379.2 million as of December 31, 2024. This reduction suggests a healthier credit environment and improved loan performance for the company.
Operating earnings stood at 52 cents per diluted share, reflecting a strong performance and a promising start to the year. Curtis J. Myers, Chairman and CEO of Fulton, expressed satisfaction with the results, emphasizing the company's focus on value creation and long-term strategic planning amidst ongoing economic uncertainties.
