Fulton Financial Corporation (FULT)

Fulton Financial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	1,372	1,156	758.61	638.6	658.15	739.28
Interest Income on Investments	134.19	116.86	106.23	84.82	84.72	86.02
Total Interest Income	1,506	1,273	864.84	723.41	742.88	825.31
Interest Paid on Deposits	476.61	292.21	43.83	30.01	70.05	131.78
Interest Paid on Borrowings	110.68	126.75	39.38	29.68	43.63	45.14
Total Interest Expense	587.29	418.95	83.2	59.68	113.67	176.92
Net Interest Income	918.67	854.29	781.63	663.73	629.21	648.39
Net Interest Income Growth (YoY)	5.81%	9.29%	17.76%	5.49%	-2.96%	2.84%
Trust Income	82.13	75.54	72.84	71.8	59.06	55.68
Mortgage Banking Activities	12.47	10.39	13.6	23.68	52.81	23.1
Gain (Loss) on Sale of Investments	-21.04	-0.73	-0.03	33.52	3.05	-1.29
Other Non-Interest Income	155.93	142.48	140.11	134.86	124.97	132.65
Total Non-Interest Income	229.5	227.68	226.53	263.85	239.89	210.14
Non-Interest Income Growth (YoY)	2.41%	0.51%	-14.14%	9.99%	14.16%	8.92%
Revenues Before Loan Losses	1,148	1,082	1,008	927.58	869.1	858.53
Provision for Loan Losses	64.72	54.04	28.02	-14.6	76.92	32.83
Revenue	1,083	1,028	980.14	942.18	792.18	825.7
Revenue Growth (YoY)	4.83%	4.88%	4.03%	18.94%	-4.06%	6.34%
Salaries and Employee Benefits	411.45	366.15	341.8	319.87	316.01	302.62
Occupancy Expenses	39.19	36.6	36.38	36.93	32.45	31.84
Federal Deposit Insurance	29.05	25.57	12.55	10.67	8.87	7.78
Amortization of Goodwill & Intangibles	12.15	2.94	1.73	0.59	0.53	0.43
Selling, General & Administrative	212.24	178.67	162.35	145.5	140.3	142.42
Other Non-Interest Expense	51.66	69.28	68.6	71.03	78.41	62.2
Total Non-Interest Expense	755.73	679.21	623.4	584.58	576.56	547.29
EBT Excluding Unusual Items	327.72	348.72	356.74	357.59	215.61	278.41
Asset Writedown	-	-	0.6	9.9	-10.5	-
Other Unusual Items	-	-	-	-33.25	-2.88	-4.33
Pretax Income	339.41	348.72	347.02	334.25	202.24	263.99
Income Tax Expense	55.03	64.44	60.03	58.75	24.2	37.65
Net Income	284.39	284.28	286.98	275.5	178.04	226.34
Preferred Dividends & Other Adjustments	10.25	10.25	10.25	10.28	2.14	-
Net Income to Common	274.14	274.03	276.73	265.22	175.91	226.34
Net Income Growth	-5.79%	-0.94%	4.17%	54.74%	-21.34%	8.61%
Basic Shares Outstanding	171	165	164	162	162	167
Diluted Shares Outstanding	173	167	165	163	163	168
Shares Change (YoY)	2.98%	0.78%	1.33%	0.13%	-2.80%	-4.96%
EPS (Basic)	1.60	1.66	1.69	1.63	1.08	1.36
EPS (Diluted)	1.58	1.64	1.67	1.62	1.08	1.35
EPS Growth	-9.08%	-1.80%	3.09%	50.00%	-20.00%	14.41%
Dividend Per Share	0.680	0.640	0.600	0.560	0.520	0.520
Dividend Growth	9.68%	6.67%	7.14%	7.69%	0%	8.33%
Effective Tax Rate	16.21%	18.48%	17.30%	17.58%	11.96%	14.26%

Source: S&P Capital IQ. Banks template. Financial Sources.