Fulton Financial Q3 2022 Earnings Report
Key Takeaways
Fulton Financial Corporation reported a strong third quarter with net income available to common shareholders of $68.3 million, or $0.40 per diluted share. The results include the impact of the acquisition of Prudential Bancorp on July 1, 2022. Operating earnings were at an all-time high, driven by increased net interest income, rising interest rates, loan growth, and consistent fee income.
Net income available to common shareholders increased by $0.9 million, or 1.3%, compared to the second quarter of 2022.
Operating net income available to common shareholders was $80.5 million, or $0.48 per diluted share, for the third quarter of 2022.
Net interest income for the third quarter of 2022 was $215.6 million, an increase of $36.8 million compared to the second quarter of 2022.
The net interest margin for the third quarter of 2022 increased 50 basis points, to 3.54%, compared to 3.04% in the second quarter of 2022.
Fulton Financial
Fulton Financial
Forward Guidance
This press release may contain forward-looking statements with respect to the Corporation’s financial condition, results of operations and business.