Fulton Financial Corporation reported a net income of $94.8 million for the first quarter of 2026, reflecting a 1.9% increase from $93.0 million in the same period last year. The net income available to common shareholders rose to $92.2 million, or $0.51 per diluted share, compared to $90.4 million, or $0.49 per diluted share, in the first quarter of 2025. The corporation's net interest income increased by 4.3% to $262.0 million, driven by a net interest margin (NIM) improvement to 3.58%, up from 3.43% a year earlier. This growth in net interest income was attributed to a combination of higher loan volumes and improved interest rates.
In terms of operational changes, Fulton Financial completed the acquisition of Blue Foundry Bancorp on April 1, 2026, which is expected to enhance its market presence. The integration of Blue Foundry Bank into Fulton Bank is anticipated to occur in the third quarter of 2026. The corporation also repurchased 1.2 million shares of its common stock under the 2026 Repurchase Program, costing approximately $24.5 million, which reflects its commitment to returning value to shareholders.
Fulton Financial's total assets increased to $32.2 billion as of March 31, 2026, up from $32.1 billion at the end of 2025. The corporation's net loans rose to $24.3 billion, a slight increase from $24.1 billion, with notable growth in commercial mortgage loans and residential mortgages. The allowance for credit losses (ACL) stood at $367.5 million, representing 1.51% of total net loans, indicating a slight decrease in credit risk compared to the previous quarter.
The corporation's non-interest income also saw a modest increase, reaching $69.8 million, up from $67.2 million in the prior year, primarily due to growth in wealth management and commercial banking services. However, non-interest expenses rose to $200.3 million, an increase of 5.7% from the previous year, driven by higher salaries and employee benefits. The efficiency ratio remained stable at 56.7%, indicating effective cost management relative to revenue generation.
Looking ahead, Fulton Financial expressed optimism about its growth trajectory, bolstered by the recent acquisition and ongoing strategic initiatives. The corporation anticipates continued improvements in net interest income and overall financial performance, despite potential challenges from market conditions and regulatory requirements.
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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