Fulton Financial Q4 net income $79.3M ($0.47 EPS); full year record $276.7M

FULTON FINANCIAL CORP

2022-FY EPS reported $1.67 revenue$227,157,000

Q4 net income available to common $79.3M ($0.47 diluted GAAP EPS); operating EPS $0.48. Full year $276.7M ($1.67), up 4.3% YoY.
Net interest income $225.9M, NIM 3.69%, up 15 bps QoQ on higher rates and loan growth.
Provision for credit losses $14.5M; net charge-offs $11.7M (0.23% of avg loans) led by commercial office loan charge-off.
Non-performing assets $177.7M (0.66% of total assets), down from $198.6M in Q3.
Prudential Bancorp acquisition closed July 1, 2022 contributed to record results; no specific 2023 guidance provided.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FULTON FINANCIAL CORP reported the year ended December 31, 2022 results: net income $276.7 million, EPS $1.67 per diluted share.

Period: the year ended December 31, 2022
Net income: $276.7 million
EPS: $1.67 per diluted share
Result: reported results

Exact text from the filing

The Corporation reported net income available to common shareholders of $276.7 million, or $1.67 per diluted share, for the year ended December 31, 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FULTON FINANCIAL CORP reported the fourth quarter of 2022 results: revenue $225.9 million, net income $79.3 million, EPS $0.47 per diluted share.

Period: the fourth quarter of 2022
Revenue: $225.9 million
Net income: $79.3 million
EPS: $0.47 per diluted share
Result: reported results

Exact text from the filing

to common shareholders per share (diluted) (1) $0.48 (1) Non-GAAP financial measure. Net Interest Income and Balance Sheet Net interest income for the fourth quarter of 2022 was $225.9 million, an increase of $10.3 million in comparison to the third quarter of 2022. The net interest margin for the fourth quarter of 2022 increased 15 basis points, to 3.69%, in

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Source: SEC EDGAR

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