Q2 2026 Fulton Financial Corp Earnings Call Transcript
Key Points
- Fulton Financial Corp (FULT) delivered record operating earnings for the second quarter, with net income available to common shareholders reaching $115.9 million or $0.60 per diluted share.
- The successful acquisition and integration of Blue Foundry Bank expanded FULT's presence in Northern New Jersey, enhancing its community banking model and creating opportunities for growth.
- Loan growth was solid, driven by both the Blue Foundry acquisition and organic growth, particularly in the consumer business.
- Deposit balances increased, benefiting from the Blue Foundry transaction and strong customer relationships across consumer, wealth management, and commercial businesses.
- FULT's capital position strengthened, with a common equity Tier 1 ratio of approximately 12.1%, providing flexibility to support growth and strategic initiatives.
- FULT adjusted its full-year loan growth guidance to low single digits, reflecting more modest growth in the first half of the year.
- Deposit costs increased modestly, and the competitive market environment may continue to pressure funding costs.
- Noninterest expenses rose to $231 million, with significant acquisition-related expenses and other nonrecurring costs impacting the quarter.
- Net charge-offs increased to 0.34% of average loans, up from 0.25% in the previous quarter, although this was attributed to timing on resolutions.
- The allowance for credit losses on loans decreased slightly, but remains a significant consideration given the economic environment and potential future credit risks.
Hello, and welcome to Fulton Financial's second-quarter 2026 conference call. (Operator Instructions)
I would now like to hand the conference over to Pat Lafferty. Sir, you may begin.
Good morning, and thanks for joining us for Fulton Financial's conference call and webcast to discuss our earnings for the second quarter ending June 30, 2026. Your host for today's conference call is Curt Myers, Chairman, Chief Executive Officer and President. Joining Curt is Rick Kraemer, Chief Financial Officer. Our comments today will refer to the financial information and related slide presentation included with our earnings announcement, which we released yesterday afternoon. These documents can be found on our website at fult.com by clicking on Investor Relations and then on News.
These slides can also be found on the Events and Presentations page under Investor Relations on our website. Today's conference call will contain forward-looking statements. These statements represent our expectations
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