EX-99.2 3 exhibit9926-30x19.htm SUPPLEMENTAL FINANCIAL INFORMATION FOR THE QUARTER ENDED JUN 30, 2019

Exhibit

FULTON FINANCIAL CORPORATION
SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
in thousands, except per-share data and percentages
	Three Months Ended
	Jun 30				Mar 31				Dec 31				Sep 30				Jun 30
	2019				2019				2018				2018				2018
Ending Balances
Investments	$	2,853,358			$	2,748,249			$	2,686,973			$	2,635,413			$	2,593,283
Loans, net of unearned income	16,368,458				16,262,633				16,165,800				15,925,093				15,792,969
Total assets	21,308,670				20,974,649				20,682,152				20,364,810				20,172,539
Deposits	16,388,895				16,377,978				16,376,159				16,249,014				15,599,799
Shareholders' equity	2,308,798				2,301,019				2,247,573				2,283,014				2,245,785
Average Balances
Investments	$	2,790,392			$	2,699,130			$	2,646,266			$	2,596,414			$	2,601,705
Loans, net of unearned income	16,316,076				16,194,375				15,965,637				15,862,143				15,768,377
Total assets	21,057,030				20,690,365				20,512,130				20,273,232				20,063,375
Deposits	16,375,456				16,275,633				16,413,066				15,967,234				15,517,425
Shareholders' equity	2,301,258				2,265,097				2,281,669				2,269,093				2,246,904
Income Statement
Net interest income	$	164,544			$	163,315			$	162,944			$	160,127			$	156,067
Provision for credit losses	5,025				5,100				8,200				1,620				33,117
Non-interest income	54,315				46,751				49,523				51,033				49,094
Non-interest expense	144,168				137,824				140,685				135,413				133,345
Income before taxes	69,666				67,142				63,582				74,127				38,699
Net income	59,779				56,663				58,083				65,633				35,197
Pre-provision net revenue(1)	76,114				73,775				78,320				77,370				73,449
Per Share
Net income (basic)	$	0.36			$	0.33			$	0.33			$	0.37			$	0.20
Net income (diluted)	$	0.35			$	0.33			$	0.33			$	0.37			$	0.20
Cash dividends	$	0.13			$	0.13			$	0.16			$	0.12			$	0.12
Tangible common equity(1)	10.63				10.39				10.08				9.95				9.75
Weighted average shares (basic)	168,343				169,884				174,571				175,942				175,764
Weighted average shares (diluted)	169,168				170,909				175,473				177,128				176,844
Asset Quality
Net charge-offs (recoveries) to average loans (annualized)	(0.04		)%		0.10		%		0.17		%		0.08		%		1.01		%
Non-performing loans to total loans	0.90		%		0.85		%		0.86		%		0.75		%		0.78		%
Non-performing assets to total assets	0.73		%		0.70		%		0.73		%		0.64		%		0.67		%
Allowance for credit losses to loans outstanding	1.08		%		1.05		%		1.05		%		1.05		%		1.07		%
Allowance for loan losses to loans outstanding	1.04		%		1.00		%		0.99		%		0.99		%		0.99		%
Allowance for credit losses to non-performing loans	120		%		123%				121		%		140		%		137		%
Allowance for loan losses to non-performing loans	115		%		117%				115		%		131		%		126		%
Non-performing assets to tangible shareholders' equity      and allowance for credit losses(1)	7.94		%		7.63		%		7.97		%		6.81		%		7.16		%

Profitability
Return on average assets	1.14		%		1.11		%		1.12		%		1.28		%		0.70		%
Return on average shareholders' equity	10.42				10.15%				10.10%				11.48%				6.28%
Return on average shareholders' equity (tangible)(1)	13.60				13.28%				13.17%				14.99%				8.23%
Net interest margin	3.44		%		3.49		%		3.44		%		3.42		%		3.39		%
Efficiency ratio(1)	64.2		%		63.9		%		62.2		%		62.5		%		63.3		%
Capital Ratios
Tangible common equity ratio(1)	8.54		%		8.64		%		8.52		%		8.83		%		8.73		%
Tier 1 leverage ratio(2)	8.89		%		8.92				9.01%				9.34				9.20%
Common equity Tier 1 capital ratio(2)	9.94		%		10.16		%		10.22		%		10.80		%		10.60		%
Tier 1 capital ratio(2)	9.94		%		10.16		%		10.22		%		10.80		%		10.60		%
Total risk-based capital ratio(2)	12.42		%		12.63		%		12.75		%		13.34		%		13.18		%
(1) Please refer to the calculation on the page titled “Reconciliation of Non-GAAP Measures” at the end of this document.
(2) Regulatory capital ratios as of June 30, 2019 are preliminary and remaining periods are actual.

Exhibit 99.2
FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
dollars in thousands
																						% Change from
		Jun 30				Mar 31				Dec 31				Sep 30				Jun 30				Mar 31			Jun 30
		2019				2019				2018				2018				2018				2019			2018
ASSETS
	Cash and due from banks	$	107,091			$	115,884			$	103,436			$	90,361			$	99,742			(7.6	)%		7.4	%
	Other interest-earning assets	488,968				411,037				421,534				388,256				364,802				19.0	%		34.0	%
	Loans held for sale	45,754				27,768				27,099				27,525				35,898				64.8	%		27.5	%
	Investment securities	2,853,358				2,748,249				2,686,973				2,635,413				2,593,283				3.8	%		10.0	%
	Loans, net of unearned income	16,368,458				16,262,633				16,165,800				15,925,093				15,792,969				0.7	%		3.6	%
	Allowance for loan losses	(170,233		)		(162,109		)		(160,537		)		(157,810		)		(156,050		)		5.0	%		9.1	%
	Net loans	16,198,225				16,100,524				16,005,263				15,767,283				15,636,919				0.6	%		3.6	%
	Premises and equipment	243,300				239,004				234,529				231,236				230,195				1.8	%		5.7	%
	Accrued interest receivable	62,984				62,207				58,879				58,584				55,208				1.2	%		14.1	%
	Goodwill and intangible assets	535,249				535,356				531,556				531,556				531,556				—	%		0.7	%
	Other assets	773,741				734,620				612,883				634,596				624,936				5.3	%		23.8	%
	Total Assets	$	21,308,670			$	20,974,649			$	20,682,152			$	20,364,810			$	20,172,539			1.6	%		5.6	%
LIABILITIES AND SHAREHOLDERS' EQUITY
	Deposits	$	16,388,895			$	16,377,978			$	16,376,159			$	16,249,014			$	15,599,799			0.1	%		5.1	%
	Short-term borrowings	1,188,390				829,016				754,777				485,565				983,833				43.3	%		20.8	%
	Other liabilities	435,171				401,324				311,364				355,102				351,174				8.4	%		23.9	%
	FHLB advances and long-term debt	987,416				1,065,312				992,279				992,115				991,948				(7.3	)%		(0.5	)%
	Total Liabilities	18,999,872				18,673,630				18,434,579				18,081,796				17,926,754				1.7	%		6.0	%
	Shareholders' equity	2,308,798				2,301,019				2,247,573				2,283,014				2,245,785				0.3	%		2.8	%
	Total Liabilities and Shareholders' Equity	$	21,308,670			$	20,974,649			$	20,682,152			$	20,364,810			$	20,172,539			1.6	%		5.6	%
LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
Loans, by type:
	Real estate - commercial mortgage	$	6,497,973			$	6,428,688			$	6,434,285			$	6,337,984			$	6,304,475			1.1	%		3.1	%
	Commercial - industrial, financial and agricultural	4,365,248				4,429,538				4,404,548				4,288,823				4,264,602				(1.5	)%		2.4	%
	Real estate - residential mortgage	2,451,966				2,313,908				2,251,044				2,173,548				2,094,530				6.0	%		17.1	%
	Real estate - home equity	1,386,974				1,413,500				1,452,137				1,469,152				1,491,395				(1.9	)%		(7.0	)%
	Real estate - construction	922,547				953,087				916,599				979,857				990,705				(3.2	)%		(6.9	)%
	Consumer	452,874				433,545				419,186				390,708				360,315				4.5	%		25.7	%
	Leasing and other	290,876				290,367				288,001				285,021				286,947				0.2	%		1.4	%
	Total Loans, net of unearned income	$	16,368,458			$	16,262,633			$	16,165,800			$	15,925,093			$	15,792,969			0.7	%		3.6	%
Deposits, by type:
	Noninterest-bearing demand	$	4,226,404			$	4,255,043			$	4,310,105			$	4,216,064			$	4,324,659			(0.7	)%		(2.3	)%
	Interest-bearing demand	4,083,615				4,207,442				4,240,974				4,289,181				3,854,680				(2.9	)%		5.9	%
	Savings and money market accounts	4,938,998				4,907,346				4,926,937				4,878,982				4,597,510				0.6	%		7.4	%
	Total demand and savings	13,249,017				13,369,831				13,478,016				13,384,227				12,776,849				(0.9	)%		3.7	%
	Brokered deposits	246,116				251,395				176,239				164,601				161,447				(2.1	)%		52.4	%
	Time deposits	2,893,762				2,756,752				2,721,904				2,700,186				2,661,503				5.0	%		8.7	%
	Total Deposits	$	16,388,895			$	16,377,978			$	16,376,159			$	16,249,014			$	15,599,799			0.1	%		5.1	%
Short-term borrowings, by type:
	Customer repurchase agreements	$	56,496			$	54,440			$	43,499			$	82,741			$	152,594			3.8	%		(63.0	)%
	Customer short-term promissory notes	281,894				299,576				326,278				267,824				303,239				(5.9	)%		(7.0	)%
	Short-term FHLB advances	650,000				475,000				385,000				85,000				185,000				36.8	%		N/M
	Federal funds purchased	200,000				—				—				50,000				343,000				100.0	%		(41.7	)%
	Total Short-term Borrowings	$	1,188,390			$	829,016			$	754,777			$	485,565			$	983,833			43.3	%		20.8	%
N/M - Not meaningful

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
dollars in thousands
				Three Months Ended																				% Change from								Six Months Ended
				Jun 30				Mar 31				Dec 31				Sep 30				Jun 30				Mar 31			Jun 30					Jun 30
				2019				2019				2018				2018				2018				2019			2018					2019				2018				% Change
Interest Income:
	Interest income			$	210,034			$	204,700			$	200,609			$	194,048			$	186,170			2.6	%		12.8	%				$	414,734			$	363,857			14.0	%
	Interest expense			45,490				41,385				37,665				33,921				30,103				9.9	%		51.1	%				86,875				56,472				53.8	%
	Net Interest Income			164,544				163,315				162,944				160,127				156,067				0.8	%		5.4	%				327,859				307,385				6.7	%
	Provision for credit losses			5,025				5,100				8,200				1,620				33,117				(1.5	)%		(84.8	)%				10,125				37,087				(72.7	)%
	Net Interest Income after Provision			159,519				158,215				154,744				158,507				122,950				0.8	%		29.7	%				317,734				270,298				17.5	%
Non-Interest Income:
	Wealth management fees			14,153				13,239				13,408				13,066				12,803				6.9	%		10.5	%				27,392				25,674				6.7	%
	Mortgage banking income			6,593				4,772				4,774				4,896				5,163				38.2	%		27.7	%				11,365				9,356				21.5	%
	Consumer banking income:
	Card income			5,047				4,686				4,966				5,382				4,708				7.7	%		7.2	%				9,733				9,149				6.4	%
	Overdraft fees			4,413				4,104				4,653				4,443				4,268				7.5	%		3.4	%				8,517				8,509				0.1	%
	Other consumer banking income			2,907				2,587				2,799				2,840				2,955				12.4	%		(1.6	)%				5,494				5,682				(3.3	)%
	Total consumer banking income			12,367				11,377				12,418				12,665				11,931				8.7	%		3.7	%				23,744				23,340				1.7	%
	Commercial banking income:
	Merchant and card income			6,512				5,558				5,656				6,307				6,155				17.2	%		5.8	%				12,070				11,463				5.3	%
	Cash management fees			4,638				4,361				4,340				4,472				4,452				6.4	%		4.2	%				8,999				8,770				2.6	%
	Commercial loan interest rate swap fees			3,477				2,028				2,540				3,607				2,393				71.4	%		45.3	%				5,505				3,684				49.4	%
	Other commercial banking income			3,815				2,816				3,466				3,154				3,431				35.5	%		11.2	%				6,631				6,471				2.5	%
	Total commercial banking income			18,442				14,763				16,002				17,540				16,431				24.9	%		12.2	%				33,205				30,388				9.3	%
	Other income			2,584				2,535				2,921				2,852				2,762				1.9	%		(6.4	)%				5,119				6,188				(17.3	)%
	Non-interest income before investment securities gains			54,139				46,686				49,523				51,019				49,090				16.0	%		10.3	%				100,825				94,946				6.2	%
	Investment securities gains, net			176				65				—				14				4				N/M			N/M					241				23				N/M
	Total Non-Interest Income			54,315				46,751				49,523				51,033				49,094				16.2	%		10.6	%				101,066				94,969				6.4	%
Non-Interest Expense:
	Salaries and employee benefits			78,991				77,757				75,745				76,770				74,919				1.6	%		5.4	%				156,748				150,687				4.0	%
	Net occupancy expense			14,469				12,909				12,708				12,578				12,760				12.1	%		13.4	%				27,378				26,392				3.7	%
	Data processing and software			11,268				10,353				10,203				10,157				10,453				8.8	%		7.8	%				21,621				20,926				3.3	%
	Other outside services			11,259				8,352				8,944				9,122				7,568				34.8	%		48.8	%				19,611				15,692				25.0	%
	Professional fees			2,970				3,960				3,546				3,427				2,372				(25.0	)%		25.2	%				6,930				7,188				(3.6	)%
	Equipment expense			3,299				3,342				3,275				3,000				3,434				(1.3	)%		(3.9	)%				6,641				6,968				(4.7	)%
	FDIC insurance expense			2,755				2,609				2,563				2,814				2,663				5.6	%		3.5	%				5,364				5,616				(4.5	)%
	Marketing			2,863				2,160				1,577				2,692				2,335				32.5	%		22.6	%				5,023				4,585				9.6	%
	Amortization of tax credit investments			1,492				1,491				6,538				1,637				1,637				0.1	%		(8.9	)%				2,983				3,274				(8.9	)%
	Intangible amortization			107				107				—				—				—				—	%		100.0	%				214				—				100.0	%
	Other			14,695				14,784				15,586				13,216				15,204				(0.6	)%		(3.3	)%				29,479				28,678				2.8	%
	Total Non-Interest Expense			144,168				137,824				140,685				135,413				133,345				4.6	%		8.1	%				281,992				270,006				4.4	%
	Income Before Income Taxes			69,666				67,142				63,582				74,127				38,699				3.8	%		80.0	%				136,808				95,261				43.6	%
	Income tax expense			9,887				10,479				5,499				8,494				3,502				(5.6	)%		N/M					20,366				10,584				92.4	%
	Net Income			$	59,779			$	56,663			$	58,083			$	65,633			$	35,197			5.5	%		69.8	%				$	116,442			$	84,677			37.5	%
PER SHARE:
	Net income:
	Basic			$	0.36			$	0.33			$	0.33			$	0.37			$	0.20			9.1	%		80.0	%				$	0.69			$	0.48			43.8	%
	Diluted			0.35				0.33				0.33				0.37				0.20				6.1	%		75.0	%				0.68				0.48				41.7	%
	Cash dividends			0.13				0.13				0.16				0.12				0.12				—	%		8.3	%				$	0.26			$	0.24			8.3	%
	Weighted average shares (basic)			168,343				169,884				174,571				175,942				175,764				(0.9	)%		(4.2	)%				169,109				175,535				(3.7	)%
	Weighted average shares (diluted)			169,168				170,909				175,473				177,128				176,844				(1.0	)%		(4.3	)%				170,042				176,506				(3.7	)%
N/M - not meaningful

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Three Months Ended
		June 30, 2019												March 31, 2019											June 30, 2018
		Average								Yield/				Average								Yield/			Average								Yield/
		Balance				Interest (1)				Rate				Balance				Interest (1)				Rate			Balance				Interest (1)				Rate
ASSETS
Interest-earning assets:
	Loans, net of unearned income	$	16,316,076			$	190,694			4.69%				$	16,194,375			$	186,122			4.65%			$	15,768,377			$	170,006			4.32%
	Taxable investment securities	2,348,443				15,935				2.71%				2,285,724				15,435				2.70%			2,262,789				13,885				2.45%
	Tax-exempt investment securities	444,227				4,141				3.70%				444,132				4,150				3.71%			408,715				3,713				3.63%
	Total Investment Securities	2,792,670				20,076				2.87%				2,729,856				19,585				2.87%			2,671,504				17,598				2.63%
	Loans held for sale	24,568				350				5.71%				16,434				240				5.85%			22,237				284				5.11%
	Other interest-earning assets	409,617				2,168				2.12%				366,175				2,002				2.20%			316,381				1,243				1.57%
	Total Interest-earning Assets	19,542,931				213,288				4.37%				19,306,840				207,949				4.35%			18,778,499				189,131				4.04%
Noninterest-earning assets:
	Cash and due from banks	116,285												110,693											100,811
	Premises and equipment	240,666												237,124											232,048
	Other assets	1,321,057												1,197,034											1,112,913
	Less: allowance for loan losses	(163,909		)										(161,326		)									(160,896		)
	Total Assets	$	21,057,030											$	20,690,365										$	20,063,375
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$	4,186,280			$	8,173			0.78%				$	4,153,984			$	7,519			0.73%			$	3,952,115			$	4,959			0.50%
	Savings deposits	4,925,788				10,550				0.86%				4,912,856				9,962				0.82%			4,538,083				5,545				0.49%
	Brokered deposits	246,154				1,582				2.58%				220,115				1,382				2.55%			85,242				396				1.87%
	Time deposits	2,816,424				12,245				1.74%				2,765,803				10,826				1.59%			2,660,411				8,385				1.26%
	Total Interest-bearing Deposits	12,174,646				32,550				1.07%				12,052,758				29,689				1.00%			11,235,850				19,285				0.69%
	Short-term borrowings	941,504				4,462				1.89%				820,054				3,582				1.76%			1,023,160				3,036				1.18%
	FHLB advances and long-term debt	1,051,919				8,480				3.23%				1,002,463				8,114				3.26%			945,177				7,783				3.30%
	Total Interest-bearing Liabilities	14,168,069				45,492				1.29%				13,875,275				41,385				1.21%			13,204,187				30,104				0.91%
Noninterest-bearing liabilities:
	Demand deposits	4,200,810												4,222,875											4,281,574
	Other	386,893												327,118											330,710
	Total Liabilities	18,755,772												18,425,268											17,816,471
	Shareholders' equity	2,301,258												2,265,097											2,246,904
	Total Liabilities and Shareholders' Equity	$	21,057,030											$	20,690,365										$	20,063,375
	Net interest income/net interest margin (fully taxable equivalent)					167,796				3.44%								166,564				3.49%							159,027				3.39%
	Tax equivalent adjustment					(3,252		)										(3,249		)									(2,960		)
	Net interest income					$	164,544											$	163,315										$	156,067
	(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
	Note: The weighted average interest rate on total average interest-bearing liabilities and average non-interest bearing demand deposits (“cost of funds”) was 0.99%, 0.93% and 0.69% for the three months ended June 30, 2019, March 31, 2019 and June 30, 2018, respectively.
AVERAGE LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
		Three Months Ended																				% Change from
		Jun 30				Mar 31				Dec 31				Sep 30				Jun 30				Mar 31			Jun 30
		2019				2019				2018				2018				2018				2019			2018
Loans, by type:
	Real estate - commercial mortgage	$	6,424,213			$	6,378,145			$	6,343,024			$	6,309,663			$	6,298,534			0.7	%		2.0		%
	Commercial - industrial, financial and agricultural	4,440,860				4,462,609				4,329,937				4,304,320				4,335,097				(0.5	)%		2.4		%
	Real estate - residential mortgage	2,366,685				2,276,611				2,209,993				2,142,977				2,026,161				4.0	%		16.8		%
	Real estate - home equity	1,404,141				1,433,574				1,459,647				1,474,011				1,502,936				(2.1	)%		(6.6		)%
	Real estate - construction	943,080				930,246				931,724				969,575				978,327				1.4	%		(3.6		)%
	Consumer	445,666				424,480				406,436				375,656				345,572				5.0	%		29.0		%
	Leasing and other	291,431				288,710				284,876				285,941				281,750				0.9	%		3.4		%
	Total Loans, net of unearned income	$	16,316,076			$	16,194,375			$	15,965,637			$	15,862,143			$	15,768,377			0.8	%		3.5		%
Deposits, by type:
	Noninterest-bearing demand	$	4,200,810			$	4,222,875			$	4,321,776			$	4,298,020			$	4,281,574			(0.5	)%		(1.9		)%
	Interest-bearing demand	4,186,280				4,153,984				4,225,157				4,116,051				3,952,115				0.8	%		5.9		%
	Savings and money market accounts	4,925,788				4,912,856				4,979,712				4,718,148				4,538,083				0.3	%		8.5		%
	Total demand and savings	13,312,878				13,289,715				13,526,645				13,132,219				12,771,772				0.2	%		4.2		%
	Brokered deposits	246,154				220,115				164,280				162,467				85,242				11.8	%		N/M
	Time deposits	2,816,424				2,765,803				2,722,141				2,672,548				2,660,411				1.8	%		5.9		%
	Total Deposits	$	16,375,456			$	16,275,633			$	16,413,066			$	15,967,234			$	15,517,425			0.6	%		5.5		%
Short-term borrowings, by type:
	Customer repurchase agreements	$	56,171			$	56,707			$	64,102			$	148,660			$	162,276			(0.9	)%		(65.4		)%
	Customer short-term promissory notes	288,696				312,092				310,296				298,896				316,049				(7.5	)%		(8.7		)%
	Federal funds purchased	181,769				157,122				43				145,793				398,297				15.7	%		(54.4		)%
	Short-term FHLB advances	414,868				294,133				130,109				130,783				146,538				41.0	%		N/M
	Total Short-term Borrowings	$	941,504			$	820,054			$	504,550			$	724,132			$	1,023,160			14.8	%		(8.0		)%
N/M - Not meaningful

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
			Six Months Ended June 30
			2019											2018
			Average											Average
			Balance				Interest (1)				Yield/Rate			Balance				Interest (1)				Yield/Rate
ASSETS
Interest-earning assets:
	Loans, net of unearned income		$	16,255,562			$	376,816			4.67	%		$	15,715,001			$	332,267			4.26	%
	Taxable investment securities		2,317,257				31,370				2.71	%		2,230,991				27,078				2.43	%
	Tax-exempt investment securities		444,180				8,291				3.71	%		410,761				7,466				3.64	%
	Equity securities		—				—				—	%		253				5				8.30	%
	Total Investment Securities		2,761,437				39,661				2.87	%		2,642,005				34,549				2.62	%
	Loans held for sale		20,523				590				5.76	%		21,132				500				4.73	%
	Other interest-earning assets		388,016				4,170				2.16	%		309,620				2,415				1.56	%
	Total Interest-earning Assets		$	19,425,538			421,237				4.36	%		$	18,687,758			369,731				3.98	%
Noninterest-earning assets:
	Cash and due from banks		113,504											103,258
	Premises and equipment		238,905											231,152
	Other assets		1,259,388											1,113,118
	Less: allowance for loan losses		(162,624		)									(165,035		)
	Total Assets		$	20,874,711										$	19,970,251
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits		$	4,170,221			$	15,692			0.76	%		$	3,955,485			$	8,963			0.46	%
	Savings deposits		4,919,357				20,512				0.84	%		4,516,384				9,912				0.44	%
	Brokered deposits		233,206				2,964				2.56	%		79,665				671				1.70	%
	Time deposits		2,791,254				23,071				1.67	%		2,653,634				16,188				1.23	%
	Total Interest-bearing Deposits		12,114,038				62,239				1.04	%		11,205,168				35,734				0.64	%
	Short-term borrowings		881,115				8,044				1.83	%		960,348				5,077				1.06	%
	FHLB advances and long-term debt		1,027,328				16,594				3.24	%		966,129				15,661				3.25	%
	Total Interest-bearing Liabilities		14,022,481				86,877				1.25	%		13,131,645				56,472				0.87	%
Noninterest-bearing liabilities:
	Demand deposits		4,211,782											4,263,968
	Other		357,170											338,817
	Total Liabilities		18,591,433											17,734,430
	Shareholders' equity		2,283,278											2,235,821
	Total Liabilities and Shareholders' Equity		$	20,874,711										$	19,970,251
	Net interest income/net interest margin (fully taxable equivalent)						334,360				3.46	%						313,259				3.37	%
	Tax equivalent adjustment						(6,501		)									(5,874		)
	Net interest income						$	327,859										$	307,385
(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
Note: The weighted average interest rate on total average interest-bearing liabilities and average non-interest bearing demand deposits (“cost of funds”) was 0.96% and 0.65% for the six months ended June 30, 2019 and 2018, respectively.
			Six Months Ended
			June 30
			2019				2018				% Change
Loans, by type:
	Real estate - commercial mortgage		$	6,401,305			$	6,302,157			1.6	%
	Commercial - industrial, financial and agricultural		4,451,677				4,311,994				3.2	%
	Real estate - residential mortgage		2,321,897				1,992,520				16.5	%
	Real estate - home equity		1,418,776				1,520,855				(6.7	)%
	Real estate - construction		936,699				981,269				(4.5	)%
	Consumer		435,131				330,831				31.5	%
	Leasing and other		290,077				275,375				5.3	%
	Total Loans, net of unearned income		$	16,255,562			$	15,715,001			3.4	%
Deposits, by type:
	Noninterest-bearing demand		$	4,211,782			$	4,263,968			(1.2	)%
	Interest-bearing demand		4,170,221				3,955,485				5.4	%
	Savings and money market accounts		4,919,357				4,516,384				8.9	%
	Total demand and savings		13,301,360				12,735,837				4.4	%
	Brokered deposits		233,206				79,665				N/M
	Time deposits		2,791,254				2,653,634				5.2	%
	Total Deposits		$	16,325,820			$	15,469,136			5.5	%
Short-term borrowings, by type:
	Customer repurchase agreements		$	191,880			$	169,300			13.3	%
	Customer short-term promissory notes		300,329				312,407				(3.9	)%
	Federal funds purchased		169,514				389,111				(56.4	)%
	Short-term FHLB advances and other borrowings		219,392				89,530				N/M
	Total Short-term Borrowings		$	881,115			$	960,348			(8.3	)%
N/M - Not meaningful

FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
dollars in thousands
		Three Months Ended																				Six Months Ended
		Jun 30				Mar 31				Dec 31				Sep 30				Jun 30				Jun 30				Jun 30
		2019				2019				2018				2018				2018				2019				2018
ALLOWANCE FOR CREDIT LOSSES:
Balance at beginning of period		$	170,372			$	169,410			$	167,826			$	169,247			$	176,019			$	169,410			$	176,084
	Loans charged off:
	Commercial - industrial, financial and agricultural	(1,895		)		(2,787		)		(6,263		)		(3,541		)		(38,632		)		(4,682		)		(42,637		)
	Real estate - commercial mortgage	(230		)		(1,145		)		(762		)		(650		)		(366		)		(1,375		)		(633		)
	Consumer and home equity	(1,001		)		(902		)		(1,884		)		(1,415		)		(1,528		)		(1,903		)		(2,828		)
	Real estate - residential mortgage	(134		)		(655		)		(446		)		(483		)		(483		)		(789		)		(645		)
	Real estate - construction	(3		)		(95		)		(392		)		(212		)		(606		)		(98		)		(764		)
	Leasing and other	(448		)		(785		)		(889		)		(582		)		(545		)		(1,233		)		(1,050		)
	Total loans charged off	(3,711		)		(6,369		)		(10,636		)		(6,883		)		(42,160		)		(10,080		)		(48,557		)
Recoveries of loans previously charged off:
	Commercial - industrial, financial and agricultural	2,680				1,243				2,647				731				541				3,923				1,616
	Real estate - commercial mortgage	169				136				94				928				321				305				600
	Consumer and home equity	802				407				684				607				717				1,209				1,102
	Real estate - residential mortgage	211				132				100				317				96				343				203
	Real estate - construction	1,245				84				415				664				444				1,329				750
	Leasing and other	148				229				80				595				152				377				362
	Recoveries of loans previously charged off	5,255				2,231				4,020				3,842				2,271				7,486				4,633
Net loans recovered charged off		1,544				(4,138		)		(6,616		)		(3,041		)		(39,889		)		(2,594		)		(43,924		)
Provision for credit losses		5,025				5,100				8,200				1,620				33,117				10,125				37,087
Balance at end of period		$	176,941			$	170,372			$	169,410			$	167,826			$	169,247			$	176,941			$	169,247
Net charge-offs to average loans (annualized)		(0.04		)%		0.10		%		0.17		%		0.08		%		1.01		%		0.03		%		0.56		%
NON-PERFORMING ASSETS:
	Non-accrual loans	$	133,118			$	127,141			$	128,572			$	106,433			$	111,116
	Loans 90 days past due and accruing	14,598				11,540				11,106				13,663				12,628
	Total non-performing loans	147,716				138,681				139,678				120,096				123,744
	Other real estate owned	7,241				9,012				10,518				10,684				11,181
	Total non-performing assets	$	154,957			$	147,693			$	150,196			$	130,780			$	134,925
NON-PERFORMING LOANS, BY TYPE:
	Commercial - industrial, financial and agricultural	$	47,260			$	50,148			$	51,269			$	43,391			$	44,045
	Real estate - commercial mortgage	43,850				29,817				32,153				37,393				39,278
	Real estate - residential mortgage	21,659				22,299				19,101				19,076				18,888
	Consumer and home equity	12,378				10,770				10,178				10,362				12,038
	Real estate - construction	4,632				7,039				7,390				9,784				9,319
	Leasing	17,937				18,608				19,587				90				176
	Total non-performing loans	$	147,716			$	138,681			$	139,678			$	120,096			$	123,744

FULTON FINANCIAL CORPORATION
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
in thousands, except per share data and percentages
Explanatory note:	This press release contains supplemental financial information, as detailed below, which has been derived by methods other than Generally Accepted Accounting Principles ("GAAP"). The Corporation has presented these non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Management believes that these non-GAAP financial measures, in addition to GAAP measures, are also useful to investors to evaluate the Corporation's results. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly-titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure follow:
							Three Months Ended
							Jun 30				Mar 31				Dec 31				Sep 30				Jun 30
							2019				2019				2018				2018				2018
Shareholders' equity (tangible), per share
Shareholders' equity							$	2,308,798			$	2,301,019			$	2,247,573			$	2,283,014			$	2,245,785
Less: Goodwill and intangible assets							(535,249		)		(535,356		)		(531,556		)		(531,556		)		(531,556		)
Tangible shareholders' equity (numerator)							$	1,773,549			$	1,765,663			$	1,716,017			$	1,751,458			$	1,714,229
Shares outstanding, end of period (denominator)							166,903				169,923				170,184				176,019				175,847
Shareholders' equity (tangible), per share							$	10.63			$	10.39			$	10.08			$	9.95			$	9.75
Return on average shareholders' equity (tangible)
Net income							$	59,779			$	56,663			$	58,083			$	65,633			$	35,197
Plus: Intangible amortization, net of tax							85				85				—				—				—
Net income (numerator)							$	59,864			$	56,748			$	58,083			$	65,633			$	35,197
Average shareholders' equity							$	2,301,258			$	2,265,097			$	2,281,669			$	2,269,093			$	2,246,904
Less: Average goodwill and intangible assets							(535,301		)		(531,767		)		(531,556		)		(531,556		)		(531,556		)
Average tangible shareholders' equity (denominator)							$	1,765,957			$	1,733,330			$	1,750,113			$	1,737,537			$	1,715,348
Return on average shareholders' equity (tangible), annualized							13.60		%		13.28		%		13.17		%		14.99		%		8.23		%
Tangible Common Equity to Tangible Assets (TCE Ratio)
Shareholders' equity							$	2,308,798			$	2,301,019			$	2,247,573			$	2,283,014			$	2,245,785
Less: Intangible assets							(535,249		)		(535,356		)		(531,556		)		(531,556		)		(531,556		)
Tangible shareholders' equity (numerator)							$	1,773,549			$	1,765,663			$	1,716,017			$	1,751,458			$	1,714,229
Total assets							$	21,308,670			$	20,974,649			$	20,682,152			$	20,364,810			$	20,172,539
Less: Intangible assets							(535,249		)		(535,356		)		(531,556		)		(531,556		)		(531,556		)
Total tangible assets (denominator)							$	20,773,421			$	20,439,293			$	20,150,596			$	19,833,254			$	19,640,983
Tangible Common Equity to Tangible Assets							8.54		%		8.64		%		8.52		%		8.83		%		8.73		%
Efficiency ratio
Non-interest expense							$	144,168			$	137,824			$	140,685			$	135,413			$	133,345
Less: Intangible amortization							(107		)		(107		)		—				—				—
Less: Amortization on tax credit investments							(1,492		)		(1,491		)		(6,538		)		(1,637		)		(1,637		)
Non-interest expense (numerator)							$	142,569			$	136,226			$	134,147			$	133,776			$	131,708
Net interest income (fully taxable equivalent)							$	167,796			$	166,564			$	166,123			$	163,194			$	159,027
Plus: Total Non-interest income							54,315				46,751				49,523				51,033				49,094
Less: Investment securities gains							(176		)		(65		)		—				(14		)		(4		)
Net interest income (denominator)							$	221,935			$	213,250			$	215,646			$	214,213			$	208,117
Efficiency ratio							64.2		%		63.9		%		62.2		%		62.5		%		63.3		%
Non-performing assets to tangible shareholders' equity and allowance for credit losses
Non-performing assets (numerator)							$	154,957			$	147,693			$	150,196			$	130,780			$	134,925
Tangible shareholders' equity							$	1,773,549			$	1,765,663			1,716,017				1,751,458				$	1,714,229
Plus: Allowance for credit losses							176,941				170,372				169,410				167,826				169,247
Tangible shareholders' equity and allowance for credit losses (denominator)							$	1,950,490			$	1,936,035			$	1,885,427			$	1,919,284			$	1,883,476
Non-performing assets to tangible shareholders' equity and allowance for credit losses							7.94		%		7.63		%		7.97		%		6.81		%		7.16		%

Pre-provision net revenue
Net interest income							$	164,544			$	163,315			$	162,944			$	160,127			$	156,067
Non-interest income							54,315				46,751				49,523				51,033				49,094
Less: Investment securities gains							(176		)		(65		)		—				(14		)		(4		)
Total revenue							$	218,683			$	210,001			$	212,467			$	211,146			$	205,157
Non-interest expense							$	144,168			$	137,824			$	140,685			$	135,413			$	133,345
Less: Amortization on tax credit investments							(1,492		)		(1,491		)		(6,538		)		(1,637		)		(1,637		)
Less: Intangible amortization							(107		)		(107		)		—				—				—
Total non-interest expense							$	142,569			$	136,226			$	134,147			$	133,776			$	131,708
Pre-provision net revenue							$	76,114			$	73,775			$	78,320			$	77,370			$	73,449