FULTON FINANCIAL CORP
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
FULT$23.76-0.1%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets - June 30, 2024 and December 31, 2023
(dollars in thousands, except per-share data)
| June 30, 2024 | December 31,2023 | |
|---|---|---|
| (unaudited) | ||
| ASSETS | ||
| Cash and due from banks | $333,238 | $300,343 |
| Interest-bearing deposits with other banks | 1,063,044 | 249,367 |
| Cash and cash equivalents | 1,396,282 | 549,710 |
| FRB and FHLB stock | 125,297 | 124,405 |
| Loans held for sale | 26,822 | 15,158 |
| Investment securities | ||
| AFS, at estimated fair value | 2,939,594 | 2,398,352 |
| HTM, at amortized cost | 1,244,433 | 1,267,922 |
| Net loans | 24,106,297 | 21,351,094 |
| Less: ACL - loans | (375,941) | (293,404) |
| Loans, net | 23,730,356 | 21,057,690 |
| Net premises and equipment | 180,642 | 222,881 |
| Accrued interest receivable | 120,752 | 107,972 |
| Goodwill and net intangible assets | 648,026 | 560,687 |
| Other assets | 1,357,609 | 1,267,138 |
| Total Assets | $31,769,813 | $27,571,915 |
| LIABILITIES | ||
| Deposits: | ||
| Noninterest-bearing | $5,609,383 | $5,314,094 |
| Interest-bearing | 19,950,271 | 16,223,529 |
| Total Deposits | 25,559,654 | 21,537,623 |
| Borrowings: | ||
| Federal funds purchased | — | 240,000 |
| Federal Home Loan Bank advances | 750,000 | 1,100,000 |
| Senior debt and subordinated debt | 535,741 | 535,384 |
| Other borrowings | 892,856 | 612,142 |
| Total Borrowings | 2,178,597 | 2,487,526 |
| Accrued interest payable | 48,757 | 35,083 |
| Other liabilities | 881,196 | 751,544 |
| Total Liabilities | 28,668,204 | 24,811,776 |
| SHAREHOLDERS' EQUITY | ||
| Preferred stock, no par value, 10,000,000 shares authorized; Series A, 200,000 shares authorized and issued as of June 30, 2024 and December 31, 2023, liquidation preference of $1,000 per share | 192,878 | 192,878 |
| Common stock, $2.50 par value, 600,000,000 shares authorized, 245,809,384 shares issued as of June 30, 2024 and 225,760,963 shares issued as of December 31, 2023 | 614,523 | 564,402 |
| Additional paid-in capital | 1,781,090 | 1,552,860 |
| Retained earnings | 1,712,646 | 1,619,300 |
| Accumulated other comprehensive loss | (310,534) | (312,280) |
| Treasury stock, at cost, 63,978,306 shares as of June 30, 2024 and 61,959,552 shares as of December 31, 2023 | (888,994) | (857,021) |
| Total Shareholders' Equity | 3,101,609 | 2,760,139 |
| Total Liabilities and Shareholders' Equity | $31,769,813 | $27,571,915 |
| See Notes to Consolidated Financial Statements | ||
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