Fulton Financial Q1 EPS Tops Estimates as NIM Holds at 3.58%
Fulton Financial reported first-quarter net income of $94.8 million, or $0.51 per diluted share, with adjusted earnings of $0.55 beating the 50-cent Street estimate on $459.9 million in total revenue. Operating net income rose to $99.7 million ($0.55 per share) as net interest margin held at 3.58% and non-interest expense fell $13.4 million.
1. Q1 Earnings Beat Expectations
Fulton Financial posted net income available to common shareholders of $94.8 million, or $0.51 per diluted share, in the first quarter. Adjusted earnings per share were $0.55, surpassing analysts’ $0.50 consensus estimate on $459.9 million in revenue.
2. Operating Metrics and Expense Trends
Operating net income rose to $99.7 million, driven by a stable 3.58% net interest margin and a $13.4 million reduction in operating non-interest expenses to $190.7 million. Non-interest income dipped 0.1 million to $69.8 million due to seasonal banking fees.
3. Balance Sheet and Capital Actions
Total net loans grew to $24.3 billion and deposits increased to $26.8 billion as of March 31, 2026. The bank repurchased 1.21 million shares for $24.5 million and raised its common equity tier 1 ratio to approximately 11.9%.
4. Credit Quality and Acquisition Progress
Provision for credit losses totaled $14.4 million, maintaining an allowance of 1.51% of net loans, while non-performing assets fell to 0.55% of total assets. Fulton completed its Blue Foundry Bancorp acquisition and is focusing on integration and customer transition.