Fulton Financial Corporation reported a significant increase in its financial performance for the third quarter of 2025, with net income available to common shareholders reaching $97.9 million, up from $60.6 million in the same period last year. This translates to a diluted earnings per share of $0.53, compared to $0.33 in the prior year. For the nine months ending September 30, 2025, net income available to common shareholders was $285.0 million, a $72.5 million increase from $212.4 million in 2024. The corporation's net interest income also rose to $770.3 million, reflecting a $63.6 million increase year-over-year, driven by a net interest margin of 3.49%, up from 3.42%.
The company experienced notable changes in its balance sheet, with total assets slightly decreasing to $31.995 billion from $32.072 billion at the end of 2024. Total deposits increased by $203.1 million, primarily due to a rise in savings and money market deposits, which grew by $625.6 million. However, borrowings decreased significantly by 17.4% to $1.472 billion, largely due to a reduction in Federal Home Loan Bank advances. The allowance for credit losses (ACL) attributable to net loans was $376.3 million, or 1.57% of total net loans, reflecting a provision for credit losses of $32.7 million for the nine months.
Strategically, Fulton Financial completed the acquisition of substantially all assets and liabilities of Republic First Bank in April 2024, enhancing its presence in the Philadelphia and New Jersey markets. This transaction added approximately $4.8 billion in assets and $5.6 billion in liabilities to the corporation's balance sheet. The integration of Republic First Bank is expected to contribute positively to future earnings, although it also necessitated a provision for credit losses of $23.4 million related to non-PCD loans acquired.
Operationally, Fulton Financial reported a decrease in non-performing loans to $198.7 million, down from $220.1 million at the end of 2024, with non-accrual loans representing 0.62% of total net loans. The corporation's total criticized and classified loans decreased to $1.638 billion, indicating improved asset quality. The company also repurchased 2.2 million shares of its common stock under its 2025 Repurchase Program, reflecting a commitment to returning value to shareholders.
Looking ahead, Fulton Financial remains cautiously optimistic about its growth trajectory, emphasizing the importance of maintaining strong capital ratios and managing interest rate risk. The corporation's capital levels are in compliance with regulatory requirements, and it plans to continue leveraging its strategic acquisitions and operational efficiencies to enhance profitability. The management's outlook suggests a focus on sustaining net interest income growth while navigating the challenges posed by fluctuating market conditions.
About FULTON FINANCIAL CORP
Fulton Financial Corporation is a bank holding company that operates Fulton Bank, providing community-oriented financial services across five states. Its core activities include retail, commercial, and wealth management banking, offering loans, deposits, and investment services. The company emphasizes relationship banking, regulatory compliance, and risk management, serving diverse customer segments with a focus on small- and medium-sized businesses and consumers in a competitive financial industry.
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