Fulton Financial Q4 2022 Earnings Report
Key Takeaways
Fulton Financial Corporation reported a strong fourth quarter and record year for 2022, with net income available to common shareholders increasing by 16.0% compared to the third quarter of 2022. The corporation's performance was driven by strategic initiatives, including the acquisition of Prudential Bancorp.
Net income available to common shareholders was $79.3 million, or $0.47 per diluted share.
Operating net income available to common shareholders was $81.2 million, or $0.48 per diluted share.
Net interest income increased to $225.9 million, driven by rising interest rates and loan growth.
Non-performing assets were $177.7 million, representing 0.66% of total assets.
Fulton Financial
Fulton Financial
Forward Guidance
Fulton Financial Corporation is well-positioned for continued success in 2023.
Positive Outlook
- Continued execution on strategy to grow the bank.
- Effective delivery for customers.
- Operate with excellence.
- Serve stakeholders.
- Well positioned for continued success in 2023.