FULTON FINANCIAL CORP

For the period ended Dec 31, 2023. Filed Mar 1, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 1, 2024

FULT$24.00-0.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income

(dollars in thousands, except per-share data)

	2023	2022	2021
Interest Income
Loans, including fees	$1,156,373	$758,609	$638,595
Investment securities	101,518	98,115	79,821
Other interest income	15,345	8,114	4,996
Total Interest Income	1,273,236	864,838	723,412
Interest Expense
Deposits	292,205	43,829	30,005
Federal funds purchased	30,417	2,967	—
Federal Home Loan Bank advances	46,965	7,334	2,286
Senior debt and subordinated debt	21,361	22,257	26,784
Other borrowings and interest-bearing liabilities	28,002	6,817	607
Total Interest Expense	418,950	83,204	59,682
Net Interest Income	854,286	781,634	663,730
Provision for credit losses	54,036	28,021	(14,600)
Net Interest Income After Provision for Credit Losses	800,250	753,613	678,330
Non-Interest Income
Commercial banking	81,160	75,779	68,689
Wealth management	75,541	72,843	71,798
Consumer banking	47,197	49,496	45,544
Mortgage banking	10,388	14,204	33,576
Other	14,125	14,835	20,622
Non-Interest Income Before Investment Securities Gains, Net	228,411	227,157	240,229
Investment securities gains (losses), net	(733)	(27)	33,516
Total Non-Interest Income	227,678	227,130	273,745
Non-Interest Expense
Salaries and employee benefits	377,417	356,884	329,138
Data processing and software	66,471	60,255	56,440
Net occupancy	58,019	56,195	53,799
Other outside services	47,724	37,152	34,194
FDIC insurance	25,565	12,547	10,665
Equipment	14,390	14,033	13,807
Marketing	9,004	6,885	5,275
Professional fees	8,392	9,123	9,647
Intangible amortization	2,944	1,731	589
Debt extinguishment cost	—	—	33,249
Merger-related expenses	—	10,328	—
Other	69,281	68,595	71,027
Total Non-Interest Expense	679,207	633,728	617,830
Income Before Income Taxes	348,721	347,015	334,245
Income taxes	64,441	60,034	58,748
Net Income	284,280	286,981	275,497
Preferred stock dividends	(10,248)	(10,248)	(10,277)
Net Income Available to Common Shareholders	$274,032	$276,733	$265,220
PER SHARE:
Net income available to common shareholders (basic)	$1.66	$1.69	$1.63
Net income available to common shareholders (diluted)	1.64	1.67	1.62
Cash dividends	0.64	0.66	0.64
See Notes to Consolidated Financial Statements

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.