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The $17 billion-asset company said late Thursday that Patrick Barrett will succeed Charles Nugent, who is retiring at the end of this year.
October 24 -
Fulton Financial (FULT) tossed out a tempting tidbit to investors on Wednesday it has found a new chief financial officer.
October 23 -
Fulton Financial (FULT) in Lancaster, Pa., saw reduced revenue from mortgage sales and service charges in the third quarter, but improvements in credit quality partially offset those declines.
October 22 -
The $17 billion-asset company's second-quarter earnings rose 2% from a year earlier, to $40.6 million. Per-share earnings of 21 cents beat the estimates of analysts polled by Bloomberg by 2 cents.
July 23 -
Fulton Financial (FULT) in Lancaster, Pa., has lured a chief marketing officer from First Niagara Financial (FNFG).
June 25 -
Fulton Financial (FULT) in Lancaster, Pa., is extending a share repurchase program by three months.
June 19
Fulton Financial (FULT) in Lancaster, Pa., reported a nearly 5% increase in fourth-quarter earnings, capping a year of loan growth and credit quality improvements.
"Overall asset quality improved significantly as seen in our lower provision for credit losses and lower nonperforming loan levels year over year," Fulton Financial Chief Executive E. Philip Wenger said in summing up the company's 2013 performance. "We continued to prudently deploy capital through our share repurchases and cash dividends to our shareholders. Fourth-quarter financial performance was solid," he said in a
Fulton reported net income of $42.1 million for the fourth quarter, up 4.6% from a year earlier. Earnings per share were 22 cents, beating estimates of analysts polled by Bloomberg by more than two cents per share.
Average loans were $12.6 billion at yearend, up 5.1% from a year earlier but just 0.5% higher than at Sept. 30.
Provision for credit losses was $2.5 million for the quarter, an 85.7% decrease from $17.5 million in the fourth quarter of 2012. Annualized net chargeoffs were 0.33% of average total loans, compared to 0.91% for the quarter ending Dec. 31, 2012.
Net interest income for the fourth quarter rose 0.6% from a year earlier, to $133 million.
Total noninterest income plummeted 31.6%, to $40.7 million. Total noninterest expense rose 0.2% to $116.8 million.
Net interest margin fell by 17 basis points compared to the fourth quarter of 2012, to 3.48%.
