secwatch.observer — SEC 8-K summary
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Issuer:     FULTON FINANCIAL CORP (FULT)
CIK:        0000700564
Form:       8-K
Filed at:   2024-07-16T23:59:59+00:00
Accession:  0000700564-24-000036
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fulton Q2 net income $92.4M ($0.52 EPS); Republic Bank acquisition adds $30.7M NII
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- Net income $92.4M ($0.52 diluted EPS) vs Q1 $59.4M ($0.36); operating EPS $0.47.
- Acquired Republic First Bank from FDIC Apr 26: $4.8B assets, $2.5B loans, $4.1B deposits; net cash from FDIC $809.9M.
- Preliminary after-tax gain on acquisition $47.4M; core deposit intangible $92.6M with $4.1M amortization.
- Sale-leaseback of 40 branches generated $20.3M pre-tax gain; sold $356.4M AFS securities at $20.3M loss, reinvested in higher-yielding.
- Net loans $24.1B (+$2.7B), deposits $25.6B (+$3.8B); NIM 3.43% (+11bps); provision $32.1M vs $10.9M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/700564/000070056424000036/0000700564-24-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/700564/000070056424000036/fult-20240716.htm
  HTML page:      https://secwatch.observer/filing/0000700564-24-000036

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