Loading...
•
Dec 31, 2020
Fulton Financial Q4 2020 Earnings Report
Reported net income available to common shareholders for the fourth quarter and year-end results.
Key Takeaways
Fulton Financial Corporation reported a net income available to common shareholders of $49 million, or $0.30 per diluted share, for the fourth quarter of 2020. The company's achievements were noted given the challenges of COVID-19, with stable asset quality and growth in mortgage and wealth management businesses.
Net income available to common shareholders was $49 million, or $0.30 per diluted share.
Net interest income increased by $7.5 million compared to the previous quarter.
Net interest margin increased by 5 basis points to 2.75% from the previous quarter.
Non-interest income decreased by $8 million, primarily due to a decrease in mortgage banking income.
Forward Guidance
The cost savings anticipated from the implementation of the cost savings initiatives are not expected to be fully realized until mid-2021. Of the anticipated $25 million in annual expense savings, the Corporation expects to reinvest a portion of the savings to accelerate digital transformation initiatives.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...