secwatch.observer — SEC 8-K summary
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Issuer:     FULTON FINANCIAL CORP (FULT)
CIK:        0000700564
Form:       8-K
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0000700564-23-000018
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fulton Financial Q1 net income falls 17% to $65.8M; provision jumps to $24.5M
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- Diluted EPS $0.39, down from $0.47 in Q4 2022 and $0.39 in Q1 2022.
- Net interest income $215.6M (-4.6% linked quarter); net interest margin 3.53% (-16 bps).
- Provision for credit losses $24.5M vs $14.5M in Q4; net charge-offs 0.27% of avg loans.
- Non-performing assets $167.9M (0.62% of assets); $13.3M charge-off on a commercial office loan.
- Average loan growth of $458.6M QoQ; funding mix shifted to higher-cost deposits and borrowings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/700564/000070056423000018/0000700564-23-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/700564/000070056423000018/fult-20230418.htm
  HTML page:      https://secwatch.observer/filing/0000700564-23-000018

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer