EX-99.1 2 exhibit991063025earningsre.htm EX-99.1
Exhibit 99.1
FULTON FINANCIAL
CORPORATION
FOR IMMEDIATE RELEASE
Media Contact: Lacey Dean (717) 735-8688
Investor Contact: Matt Jozwiak (717) 327-2657
Fulton Financial Corporation Announces 2025 Second Quarter Results
(July 15, 2025) – Lancaster, PA – Fulton Financial Corporation (NASDAQ: FULT) (“Fulton” or the “Corporation”) reported net income available to common shareholders of $96.6 million, or $0.53 per diluted share, for the second quarter of 2025, an increase of $6.2 million, or $0.04 per diluted share, in comparison to the first quarter of 2025. Operating net income available to common shareholders for the three months ended June 30, 2025 was $100.6 million(1), or $0.55 per diluted share(1), an increase of $5.2 million, or $0.03 per diluted share, in comparison to the first quarter of 2025.
Net income available to common shareholders for the six months ended June 30, 2025 was $187.1 million, or $1.02 per diluted share, an increase of $35.3 million, or $0.13 per diluted share, in comparison to the six months ended June 30, 2024. Operating net income available to common shareholders for the six months ended June 30, 2025, was $196.1 million(1), or $1.07 per diluted share(1), an increase of $48.2 million, or $0.20 per diluted share, in comparison to the six months ended June 30, 2024.
"I'm proud that our team has delivered a new company record, with operating net income of $100.6 million, or $0.55 per diluted share, this past quarter," said Curt Myers, Chairman and CEO of Fulton. "Our community banking strategy continues to provide significant value to customers and has once again resulted in strong bottom-line results for the company."
Financial Highlights
Second quarter of 2025 operating results of $0.55 per diluted share were impacted by the following items:
•Solid net interest margin of 3.47%, with a two basis point decrease in total cost of funds compared to the prior quarter.
•Non-interest income increased $1.9 million to $69.1 million compared to $67.2 million in the prior quarter.
•Non-interest expense increased $3.4 million to $192.8 million compared to $189.5 million in the prior quarter. Operating non-interest expense increased $4.8 million to $187.6 million(1) compared to $182.9 million in the prior quarter.

•Provision for credit losses was $8.6 million resulting in an allowance for credit losses attributable to net loans of $377.3 million, or 1.57% of total net loans as of June 30, 2025.
•Net loans increased $150.0 million, or 2.5% annualized, compared to the prior quarter.
•Common equity tier 1 capital ratio(2) increased to approximately 11.3% compar ed to 11.1% i n the prior quarter.
The following items highlight notable changes in the components of net income in the second quarter of 2025 compared to the first quarter of 2025:
•Net interest income totaled $254.9 million, an increase of $3.7 million. Increases of $2.2 million in interest income on investment securities and $1.8 million in interest income on net loans were partially offset by a $1.0 million decrease in interest income on other interest-earning assets. A $1.7 million decrease in interest expense on deposits was partially offset by a $1.0 million increase in interest expense on borrowings and other interest-bearing liabilities. Purchase loan mark accretion from loans acquired in the Acquisition(3) was $11.4 million in the second quarter of 2025 compared to $13.1 million in the prior quarter.
•Non-interest income before investment securities gains (losses) was $69.1 million compared to $67.2 million in the prior quarter. The $1.9 million increase was primarily due to increases of $0.9 million in mortgage banking income, $0.8 million in merchant and card fee income, $0.6 million in cash management fee income, $0.5 million in overdraft fee income, $0.5 million in wealth management revenues, $0.5 million in other consumer deposit banking fees, $0.4 million in debit card fee income and $0.4 million in commercial customer interest rate derivative fee income, reflected in capital markets income, partially offset by a $2.7 million decrease in income from equity method investments, reflected in other income.
•Non-interest expense was $192.8 million compared to $189.5 million in the prior quarter. The $3.4 million increase in non-interest expense was primarily due to a $3.6 million increase in salaries and employee benefits expense largely due to annual merit increases taking effect at the beginning of the second quarter of 2025, one additional calendar day in the second quarter of 2025 and an increase in incentive compensation expense. Additional drivers of the increase in non-interest expense included a $3.2 million increase in professional fees largely driven by a recovery of previously incurred fees in the first quarter of 2025, partially offset by decreases of $1.8 million in net occupancy costs largely due to a decrease in snow removal expense, $0.7 million in state tax expense, reflected in other expense, $0.6 million in FDIC insurance expense and $0.3 million in data processing and software expense.
2

Balance Sheet Summary
•Net loans totaled $24.0 billion, an increase of $150.0 million, compared to $23.9 billion as of March 31, 2025. The increase in net loans was due to increases of $117.4 million in consumer loans(4) and $32.6 million in commercial and other loans(4).
•Deposits totaled $26.1 billion, a decrease of $190.9 million, compared to $26.3 billion as of March 31, 2025. The decrease was primarily due to decreases of $211.3 million in interest-bearing demand deposits, $98.2 million in noninterest-bearing demand deposits and $23.8 million in time deposits, partially offset by increases of $78.9 million in brokered deposits and $63.4 million in savings deposits.
Provision for Credit Losses and Asset Quality
•The provision for credit losses was $8.6 million in the second quarter of 2025, resulting in a $377.3 million allowance for credit losses attributable to net loans, or 1.57% of total net loans as of June 30, 2025, compared to $379.7 million, or 1.59% of total net loan s as of March 31, 2025.
•Non-performing assets were $215.6 million, or 0.67% of total assets, as of June 30, 2025, in comparison to $199.0 million, or 0.62% of total assets, as of March 31, 2025.
•Annualized net charge-offs for the second quarter of 2025 were 0.20% of total average loans in comparison to 0.21% in the prior quarter.
Additional information on Fulton is available on the Internet at www.fultonbank.com.
(1) Financial measure derived by methods other than generally accepted accounting principles ("GAAP"). Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of the press release.
(2) Regulatory capital ratios as of June 30, 2025, are preliminary estimates and prior periods are actual.
(3) On April 26, 2024, the Corporation announced that its wholly owned banking subsidiary, Fulton Bank, National Association ("Fulton Bank"),
acquired substantially all of the assets and assumed substantially all of the deposits and certain liabilities of Republic First Bank, doing
business as Republic Bank ("Republic Bank"), from the Federal Deposit Insurance Corporation (the "FDIC"), as receiver for Republic Bank (the
"Acquisition"), pursuant to the terms of the Purchase and Assumption Agreement - Whole Bank, All Deposits, effective as of April 26, 2024 among the FDIC, as receiver of Republic Bank, the FDIC and Fulton Bank..
(4) Commercial loans include real estate - commercial mortgage, commercial and industrial, leases and other loans and includes a decrease in commercial construction loans of $26.1 million, reflected in real estate - construction. Consumer loans include real estate - residential mortgage, real estate - home equity, consumer and includes an increase of $5.8 million in residential construction loans, reflected in real estate - construction.
3

Safe Harbor Statement
This press release may contain forward-looking statements with respect to the Corporation’s financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," “projects,” the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation’s future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation’s business or financial results.
Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation’s control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov).
4

Non-GAAP Financial Measures
The Corporation uses certain financial measures in this press release that have been derived from methods other than GAAP. These non-GAAP financial measures are reconciled to the most comparable GAAP measures in tables at the end of this press release.

FULTON FINANCIAL CORPORATION |  |  |  |  |  |  |  |  |  |  |  |  |  |
SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED) |  |  |  |  |  |  |  |  |  |  |  |  |  |
(dollars in thousands, except per share and shares data) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Three months ended |  |  |  |  |  |  |  |
| Jun 30 |  | Mar 31 |  | Dec 31 |  | Sep 30 |  | Jun 30 |  |  |  |  |  |  |  |
| 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024 |  |  |  |  |  |  |  |
Ending Balances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities(1) | $ | 5,093,027 |  | $ | 5,071,323 |  | $ | 4,806,468 |  | $ | 4,545,278 |  | $ | 4,184,027 |  |  |  |  |  |  |  |
Net loans | 24,012,539 |  | 23,862,574 |  | 24,044,919 |  | 24,176,075 |  | 24,106,297 |  |  |  |  |  |  |  |
Total assets | 32,040,448 |  | 32,132,028 |  | 32,071,810 |  | 32,185,726 |  | 31,769,813 |  |  |  |  |  |  |  |
Deposits | 26,138,067 |  | 26,328,972 |  | 26,129,433 |  | 26,152,144 |  | 25,559,654 |  |  |  |  |  |  |  |
Shareholders' equity | 3,329,246 |  | 3,274,321 |  | 3,197,325 |  | 3,203,943 |  | 3,101,609 |  |  |  |  |  |  |  |
Average Balances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities(1) | 5,084,371 |  | 4,906,952 |  | 4,771,537 |  | 4,237,805 |  | 4,043,136 |  |  |  |  |  |  |  |
Net loans | 23,899,743 |  | 24,006,863 |  | 24,068,784 |  | 24,147,801 |  | 23,345,914 |  |  |  |  |  |  |  |
Total assets | 31,901,574 |  | 31,971,601 |  | 32,098,852 |  | 31,895,235 |  | 30,774,891 |  |  |  |  |  |  |  |
Deposits | 26,125,602 |  | 26,169,883 |  | 26,313,378 |  | 25,778,259 |  | 24,642,954 |  |  |  |  |  |  |  |
Shareholders' equity | 3,304,015 |  | 3,254,125 |  | 3,219,026 |  | 3,160,322 |  | 2,952,671 |  |  |  |  |  |  |  |
Income Statement |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net interest income | 254,921 |  |  | 251,187 |  |  | 253,659 |  |  | 258,009 |  |  | 241,720 |  |  |  |  |  |  |  |  |
Provision for credit losses | 8,607 |  |  | 13,898 |  |  | 16,725 |  |  | 11,929 |  |  | 32,056 |  |  |  |  |  |  |  |  |
Non-interest income | 69,148 |  |  | 67,232 |  |  | 65,924 |  |  | 59,673 |  |  | 92,994 |  |  |  |  |  |  |  |  |
Non-interest expense | 192,811 |  |  | 189,460 |  |  | 216,615 |  |  | 226,089 |  |  | 199,488 |  |  |  |  |  |  |  |  |
Income before taxes | 122,651 |  |  | 115,061 |  |  | 86,243 |  |  | 79,664 |  |  | 103,170 |  |  |  |  |  |  |  |  |
Net income available to common shareholders | 96,636 |  |  | 90,425 |  |  | 66,058 |  |  | 60,644 |  |  | 92,413 |  |  |  |  |  |  |  |  |
Per Share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders (basic) | $0.53 |  |  | $0.50 |  |  | $0.36 |  |  | $0.33 |  |  | $0.53 |  |  |  |  |  |  |  |  |
Net income available to common shareholders (diluted) | $0.53 |  |  | $0.49 |  |  | $0.36 |  |  | $0.33 |  |  | $0.52 |  |  |  |  |  |  |  |  |
Operating net income available to common shareholders(2) | $0.55 |  |  | $0.52 |  |  | $0.48 |  |  | $0.50 |  |  | $0.47 |  |  |  |  |  |  |  |  |
Cash dividends | $0.18 |  |  | $0.18 |  |  | $0.18 |  |  | $0.17 |  |  | $0.17 |  |  |  |  |  |  |  |  |
Common shareholders' equity | $17.20 |  |  | $16.91 |  |  | $16.50 |  |  | $16.55 |  |  | $16.00 |  |  |  |  |  |  |  |  |
Common shareholders' equity (tangible)(2) | $13.78 |  |  | $13.46 |  |  | $13.01 |  |  | $13.02 |  |  | $12.43 |  |  |  |  |  |  |  |  |
Weighted average shares (basic) | 182,261 |  |  | 182,179 |  |  | 182,032 |  |  | 181,905 |  |  | 175,305 |  |  |  |  |  |  |  |  |
Weighted average shares (diluted) | 183,813 |  |  | 184,077 |  |  | 183,867 |  |  | 183,609 |  |  | 176,934 |  |  |  |  |  |  |  |  |
(1) Includes related unrealized holding gains (losses) for available for sale ("AFS") securities.
(2) Non-GAAP financial measure. Refer to the calculation on the page titled “Reconciliation of Non-GAAP Measures” at the end of this press release. |  |  |  |  |  |  |  |

5

| Three months ended |  |  |  |  |  |  |  |
| Jun 30 |  | Mar 31 |  | Dec 31 |  | Sep 30 |  | Jun 30 |  |  |  |  |  |  |  |
| 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024 |  |  |  |  |  |  |  |
Asset Quality |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net charge-offs to average loans (annualized) | 0.20 | % |  | 0.21 | % |  | 0.22 | % |  | 0.18 | % |  | 0.19 | % |  |  |  |  |  |  |  |
Non-performing loans to total net loans | 0.89 | % |  | 0.82 | % |  | 0.92 | % |  | 0.84 | % |  | 0.72 | % |  |  |  |  |  |  |  |
Non-performing assets to total assets | 0.67 | % |  | 0.62 | % |  | 0.69 | % |  | 0.64 | % |  | 0.55 | % |  |  |  |  |  |  |  |
ACL - loans(1) to total loans | 1.57 | % |  | 1.59 | % |  | 1.58 | % |  | 1.56 | % |  | 1.56 | % |  |  |  |  |  |  |  |
ACL - loans(1) to non-performing loans | 177 | % |  | 193 | % |  | 172 | % |  | 186 | % |  | 218 | % |  |  |  |  |  |  |  |
Profitability |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Return on average assets | 1.25 | % |  | 1.18 | % |  | 0.85 | % |  | 0.79 | % |  | 1.24 | % |  |  |  |  |  |  |  |
Operating return on average assets(2) | 1.30 | % |  | 1.25 | % |  | 1.14 | % |  | 1.17 | % |  | 1.11 | % |  |  |  |  |  |  |  |
Return on average common shareholders' equity | 12.46 | % |  | 11.98 | % |  | 8.68 | % |  | 8.13 | % |  | 13.47 | % |  |  |  |  |  |  |  |
Operating return on average common shareholders' equity (tangible)(2) | 16.26 | % |  | 15.95 | % |  | 14.83 | % |  | 15.65 | % |  | 15.56 | % |  |  |  |  |  |  |  |
Net interest margin | 3.47 | % |  | 3.43 | % |  | 3.41 | % |  | 3.49 | % |  | 3.43 | % |  |  |  |  |  |  |  |
Efficiency ratio(2) | 57.1 | % |  | 56.7 | % |  | 58.4 | % |  | 59.6 | % |  | 62.6 | % |  |  |  |  |  |  |  |
Non-interest expense to total average assets | 2.42 | % |  | 2.40 | % |  | 2.68 | % |  | 2.82 | % |  | 2.61 | % |  |  |  |  |  |  |  |
Operating non-interest expense to total average assets(2) | 2.36 | % |  | 2.32 | % |  | 2.36 | % |  | 2.45 | % |  | 2.55 | % |  |  |  |  |  |  |  |
Capital Ratios(3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tangible common equity ratio ("TCE")(2) | 8.0 | % |  | 7.8 | % |  | 7.5 | % |  | 7.5 | % |  | 7.3 | % |  |  |  |  |  |  |  |
Tier 1 leverage ratio | 9.3 | % |  | 9.2 | % |  | 9.0 | % |  | 9.0 | % |  | 9.2 | % |  |  |  |  |  |  |  |
Common equity Tier 1 capital ratio | 11.3 | % |  | 11.1 | % |  | 10.8 | % |  | 10.5 | % |  | 10.3 | % |  |  |  |  |  |  |  |
Tier 1 risk-based capital ratio | 12.1 | % |  | 11.9 | % |  | 11.5 | % |  | 11.3 | % |  | 11.1 | % |  |  |  |  |  |  |  |
Total risk-based capital ratio | 14.7 | % |  | 14.5 | % |  | 14.3 | % |  | 14.0 | % |  | 13.8 | % |  |  |  |  |  |  |  |
(1) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Net Loans" and does not include the ACL related to off-balance-sheet ("OBS") credit exposures. |  |  |  |  |  |  |  |
(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release. |  |  |  |  |  |  |  |
(3) Regulatory capital ratios as of June 30, 2025 are preliminary estimates and prior periods are actual. |  |  |  |  |  |  |  |

6

FULTON FINANCIAL CORPORATION |  |
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED) |  |
(dollars in thousands) |  |
|  | Jun 30 |  | Mar 31 |  | Dec 31 |  | Sep 30 |  | Jun 30
|  | 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024
ASSETS |  |  |  |  |  |  |  |
| Cash and due from banks | $ | 362,280 |  |  | $ | 388,503 |  |  | $ | 279,041 |  |  | $ | 296,500 |  |  | $ | 333,238 |
| Other interest-earning assets | 583,899 |  |  | 778,117 |  |  | 924,404 |  |  | 1,287,392 |  |  | 1,188,341 |
| Loans held for sale | 23,281 |  |  | 15,965 |  |  | 25,618 |  |  | 17,678 |  |  | 26,822 |
| Investment securities | 5,093,027 |  |  | 5,071,323 |  |  | 4,806,468 |  |  | 4,545,278 |  |  | 4,184,027 |
| Net loans | 24,012,539 |  |  | 23,862,574 |  |  | 24,044,919 |  |  | 24,176,075 |  |  | 24,106,297 |
| Less: ACL - loans(1) | (377,337) |  |  | (379,677) |  |  | (379,156) |  |  | (375,961) |  |  | (375,941) |
| Loans, net | 23,635,202 |  |  | 23,482,897 |  |  | 23,665,763 |  |  | 23,800,114 |  |  | 23,730,356 |
| Net premises and equipment | 184,290 |  |  | 186,873 |  |  | 195,527 |  |  | 171,731 |  |  | 180,642 |
| Accrued interest receivable | 117,130 |  |  | 116,215 |  |  | 117,029 |  |  | 115,903 |  |  | 120,752 |
| Goodwill and intangible assets | 623,729 |  |  | 629,189 |  |  | 635,458 |  |  | 641,739 |  |  | 648,026 |
| Other assets | 1,417,610 |  |  | 1,462,946 |  |  | 1,422,502 |  |  | 1,309,391 |  |  | 1,357,609 |
| Total Assets | $ | 32,040,448 |  |  | $ | 32,132,028 |  |  | $ | 32,071,810 |  |  | $ | 32,185,726 |  |  | $ | 31,769,813 |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |
| Deposits | $ | 26,138,067 |  |  | $ | 26,328,972 |  |  | $ | 26,129,433 |  |  | $ | 26,152,144 |  |  | $ | 25,559,654 |
| Borrowings | 1,773,900 |  |  | 1,657,200 |  |  | 1,782,048 |  |  | 2,052,227 |  |  | 2,178,597 |
| Other liabilities | 799,235 |  |  | 871,535 |  |  | 963,004 |  |  | 777,412 |  |  | 929,953 |
| Total Liabilities | 28,711,202 |  |  | 28,857,707 |  |  | 28,874,485 |  |  | 28,981,783 |  |  | 28,668,204 |
| Shareholders' equity | 3,329,246 |  |  | 3,274,321 |  |  | 3,197,325 |  |  | 3,203,943 |  |  | 3,101,609 |
| Total Liabilities and Shareholders' Equity | $ | 32,040,448 |  |  | $ | 32,132,028 |  |  | $ | 32,071,810 |  |  | $ | 32,185,726 |  |  | $ | 31,769,813 |
LOANS, DEPOSITS AND BORROWINGS DETAIL: |  |  |  |  |  |
Loans, by type: |  |  |  |  |  |  |  |
| Real estate - commercial mortgage | $ | 9,678,038 |  |  | $ | 9,676,517 |  |  | $ | 9,601,858 |  |  | $ | 9,493,479 |  |  | $ | 9,289,770 |
| Commercial and industrial | 4,541,765 |  |  | 4,531,266 |  |  | 4,605,589 |  |  | 4,914,734 |  |  | 4,967,796 |
| Real estate - residential mortgage | 6,511,687 |  |  | 6,409,657 |  |  | 6,349,643 |  |  | 6,302,624 |  |  | 6,248,856 |
| Real estate - home equity | 1,193,410 |  |  | 1,170,470 |  |  | 1,160,616 |  |  | 1,144,402 |  |  | 1,120,878 |
| Real estate - construction | 1,155,099 |  |  | 1,175,445 |  |  | 1,394,899 |  |  | 1,332,954 |  |  | 1,463,799 |
| Consumer | 583,949 |  |  | 597,305 |  |  | 616,856 |  |  | 651,717 |  |  | 692,086 |
| Leases and other loans(2) | 348,591 |  |  | 301,914 |  |  | 315,458 |  |  | 336,165 |  |  | 323,112 |
| Total Net Loans | $ | 24,012,539 |  |  | $ | 23,862,574 |  |  | $ | 24,044,919 |  |  | $ | 24,176,075 |  |  | $ | 24,106,297 |
Deposits, by type: |  |  |  |  |  |  |  |
| Noninterest-bearing demand | $ | 5,337,771 |  |  | $ | 5,435,934 |  |  | $ | 5,499,760 |  |  | $ | 5,501,699 |  |  | $ | 5,609,383 |
| Interest-bearing demand | 7,593,083 |  |  | 7,804,388 |  |  | 7,843,604 |  |  | 7,779,472 |  |  | 7,478,077 |
| Savings | 8,271,925 |  |  | 8,208,526 |  |  | 7,792,114 |  |  | 7,740,595 |  |  | 7,563,495 |
| Total demand and savings | 21,202,779 |  |  | 21,448,848 |  |  | 21,135,478 |  |  | 21,021,766 |  |  | 20,650,955 |
| Brokered | 817,398 |  |  | 738,458 |  |  | 843,857 |  |  | 843,473 |  |  | 995,975 |
| Time | 4,117,890 |  |  | 4,141,666 |  |  | 4,150,098 |  |  | 4,286,905 |  |  | 3,912,724 |
| Total Deposits | $ | 26,138,067 |  |  | $ | 26,328,972 |  |  | $ | 26,129,433 |  |  | $ | 26,152,144 |  |  | $ | 25,559,654 |
Borrowings, by type: |  |  |  |  |  |  |  |
| Federal Home Loan Bank advances | $ | 800,000 |  |  | $ | 750,000 |  |  | $ | 850,000 |  |  | $ | 950,000 |  |  | $ | 750,000 |
| Senior debt and subordinated debt | 367,476 |  |  | 367,396 |  |  | 367,316 |  |  | 535,917 |  |  | 535,741 |
| Other borrowings | 606,424 |  |  | 539,804 |  |  | 564,732 |  |  | 566,310 |  |  | 892,856 |
| Total Borrowings | $ | 1,773,900 |  |  | $ | 1,657,200 |  |  | $ | 1,782,048 |  |  | $ | 2,052,227 |  |  | $ | 2,178,597 |
(1) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.
(2) Includes equipment lease financing, overdraft and net origination fees and costs.

7

FULTON FINANCIAL CORPORATION |  |  |  |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) |  |  |  |
(dollars in thousands, except per share and share data) |  |  |  |
|  |  | Three months ended |  | Six months ended
|  |  | Jun 30 |  | Mar 31 |  | Dec 31 |  | Sep 30 |  | Jun 30 |  | Jun 30
|  |  | 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024 |  | 2025 |  | 2024
Net Interest Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest income |  | $ | 402,761 |  |  | $ | 399,692 |  |  | $ | 414,368 |  |  | $ | 427,656 |  |  | $ | 400,506 |  |  | $ | 802,452 |  |  | $ | 740,172 |
| Interest expense |  | 147,840 |  |  | 148,505 |  |  | 160,709 |  |  | 169,647 |  |  | 158,786 |  |  | 296,345 |  |  | 291,515 |
| Net Interest Income |  | 254,921 |  |  | 251,187 |  |  | 253,659 |  |  | 258,009 |  |  | 241,720 |  |  | 506,107 |  |  | 448,657 |
| Provision for credit losses |  | 8,607 |  |  | 13,898 |  |  | 16,725 |  |  | 11,929 |  |  | 32,056 |  |  | 22,505 |  |  | 42,981 |
| Net Interest Income after Provision |  | 246,314 |  |  | 237,289 |  |  | 236,934 |  |  | 246,080 |  |  | 209,664 |  |  | 483,602 |  |  | 405,676 |
Non-Interest Income: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Wealth management |  | 22,281 |  |  | 21,785 |  |  | 22,002 |  |  | 21,596 |  |  | 20,990 |  |  | 44,066 |  |  | 41,144 |
| Commercial banking: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Merchant and card |  | 7,376 |  |  | 6,591 |  |  | 7,082 |  |  | 7,496 |  |  | 7,798 |  |  | 13,967 |  |  | 14,607 |
| Cash management |  | 8,376 |  |  | 7,799 |  |  | 7,633 |  |  | 7,201 |  |  | 6,966 |  |  | 16,175 |  |  | 13,271 |
| Capital markets |  | 2,945 |  |  | 2,411 |  |  | 2,797 |  |  | 3,311 |  |  | 2,585 |  |  | 5,356 |  |  | 4,926 |
| Other commercial banking |  | 4,734 |  |  | 4,528 |  |  | 4,942 |  |  | 4,281 |  |  | 4,061 |  |  | 9,262 |  |  | 7,434 |
| Total commercial banking |  | 23,431 |  |  | 21,329 |  |  | 22,454 |  |  | 22,289 |  |  | 21,410 |  |  | 44,760 |  |  | 40,238 |
| Consumer banking: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Card |  | 7,958 |  |  | 7,544 |  |  | 8,064 |  |  | 7,917 |  |  | 8,305 |  |  | 15,502 |  |  | 14,933 |
| Overdraft |  | 3,817 |  |  | 3,295 |  |  | 3,644 |  |  | 3,957 |  |  | 3,377 |  |  | 7,112 |  |  | 6,163 |
| Other consumer banking |  | 2,753 |  |  | 2,229 |  |  | 2,601 |  |  | 3,054 |  |  | 2,918 |  |  | 4,982 |  |  | 5,172 |
| Total consumer banking |  | 14,528 |  |  | 13,068 |  |  | 14,309 |  |  | 14,928 |  |  | 14,600 |  |  | 27,596 |  |  | 26,268 |
| Mortgage banking |  | 3,991 |  |  | 3,138 |  |  | 3,759 |  |  | 3,142 |  |  | 3,951 |  |  | 7,130 |  |  | 7,041 |
| Gain on acquisition, net of tax |  | — |  |  | — |  |  | (2,689) |  |  | (7,706) |  |  | 47,392 |  |  | — |  |  | 47,392 |
| Other |  | 4,917 |  |  | 7,914 |  |  | 6,089 |  |  | 5,425 |  |  | 4,933 |  |  | 12,830 |  |  | 8,332 |
| Non-interest income before investment securities gains (losses) |  | 69,148 |  |  | 67,234 |  |  | 65,924 |  |  | 59,674 |  |  | 113,276 |  |  | 136,382 |  |  | 170,415 |
| Investment securities losses, net |  | — |  |  | (2) |  |  | — |  |  | (1) |  |  | (20,282) |  |  | (2) |  |  | (20,282) |
| Total Non-Interest Income |  | 69,148 |  |  | 67,232 |  |  | 65,924 |  |  | 59,673 |  |  | 92,994 |  |  | 136,380 |  |  | 150,133 |
Non-Interest Expense: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Salaries and employee benefits |  | 107,123 |  |  | 103,526 |  |  | 107,886 |  |  | 118,824 |  |  | 110,630 |  |  | 210,649 |  |  | 206,111 |
| Data processing and software |  | 18,262 |  |  | 18,599 |  |  | 19,550 |  |  | 20,314 |  |  | 20,357 |  |  | 36,861 |  |  | 38,018 |
| Net occupancy |  | 16,410 |  |  | 18,207 |  |  | 16,417 |  |  | 18,999 |  |  | 17,793 |  |  | 34,617 |  |  | 33,943 |
| Other outside services |  | 12,009 |  |  | 11,837 |  |  | 14,531 |  |  | 15,839 |  |  | 16,933 |  |  | 23,846 |  |  | 30,216 |
| Intangible amortization |  | 5,460 |  |  | 6,269 |  |  | 6,282 |  |  | 6,287 |  |  | 4,688 |  |  | 11,729 |  |  | 5,261 |
| FDIC insurance |  | 4,951 |  |  | 5,597 |  |  | 5,921 |  |  | 5,109 |  |  | 6,696 |  |  | 10,549 |  |  | 12,800 |
| Equipment |  | 4,100 |  |  | 4,150 |  |  | 4,388 |  |  | 4,860 |  |  | 4,561 |  |  | 8,249 |  |  | 8,602 |
| Marketing |  | 2,604 |  |  | 2,521 |  |  | 2,695 |  |  | 2,251 |  |  | 2,101 |  |  | 5,124 |  |  | 4,012 |
| Professional fees |  | 2,163 |  |  | (1,078) |  |  | 3,387 |  |  | 2,811 |  |  | 2,571 |  |  | 1,085 |  |  | 4,659 |
| Acquisition-related expenses |  | — |  |  | 380 |  |  | 9,637 |  |  | 14,195 |  |  | 13,803 |  |  | 380 |  |  | 13,803 |
| Other |  | 19,729 |  |  | 19,452 |  |  | 25,921 |  |  | 16,600 |  |  | (645) |  |  | 39,181 |  |  | 19,662 |
| Total Non-Interest Expense |  | 192,811 |  |  | 189,460 |  |  | 216,615 |  |  | 226,089 |  |  | 199,488 |  |  | 382,270 |  |  | 377,087 |
| Income Before Income Taxes |  | 122,651 |  |  | 115,061 |  |  | 86,243 |  |  | 79,664 |  |  | 103,170 |  |  | 237,712 |  |  | 178,722 |
| Income tax expense |  | 23,453 |  |  | 22,074 |  |  | 17,623 |  |  | 16,458 |  |  | 8,195 |  |  | 45,527 |  |  | 21,806 |
| Net Income |  | 99,198 |  |  | 92,987 |  |  | 68,620 |  |  | 63,206 |  |  | 94,975 |  |  | 192,185 |  |  | 156,916 |
| Preferred stock dividends |  | (2,562) |  |  | (2,562) |  |  | (2,562) |  |  | (2,562) |  |  | (2,562) |  |  | (5,124) |  |  | (5,124) |
| Net Income Available to Common Shareholders |  | $ | 96,636 |  |  | $ | 90,425 |  |  | $ | 66,058 |  |  | $ | 60,644 |  |  | $ | 92,413 |  |  | $ | 187,061 |  |  | $ | 151,792 |

8

|  |  | Three months ended |  | Six months ended
|  |  | Jun 30 |  | Mar 31 |  | Dec 31 |  | Sep 30 |  | Jun 30 |  | Jun 30
|  |  | 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024 |  | 2025 |  | 2024
PER SHARE: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net income available to common shareholders (basic) |  | $0.53 |  |  | $0.50 |  |  | $0.36 |  |  | $0.33 |  |  | $0.53 |  |  | $1.03 |  |  | $0.90 |
| Net income available to common shareholders (diluted) |  | $0.53 |  |  | $0.49 |  |  | $0.36 |  |  | $0.33 |  |  | $0.52 |  |  | $1.02 |  |  | $0.89 |
| Cash dividends |  | $0.18 |  |  | $0.18 |  |  | $0.18 |  |  | $0.17 |  |  | $0.17 |  |  | $0.36 |  |  | $0.34 |
| Weighted average shares (basic) |  | 182,261 |  |  | 182,179 |  |  | 182,032 |  |  | 181,905 |  |  | 175,305 |  |  | 182,220 |  |  | 169,006 |
| Weighted average shares (diluted) |  | 183,813 |  |  | 184,077 |  |  | 183,867 |  |  | 183,609 |  |  | 176,934 |  |  | 183,999 |  |  | 170,769 |

9

FULTON FINANCIAL CORPORATION |  |  |  |  |  |
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED) |  |  |  |  |
(dollars in thousands) |  |  |  |  |  |
|  | Three months ended
|  | June 30, 2025 |  | March 31, 2025 |  | June 30, 2024
|  | Average |  |  |  | Yield/ |  | Average |  |  |  | Yield/ |  | Average |  |  |  | Yield/
|  | Balance |  | Interest(1) |  | Rate |  | Balance |  | Interest(1) |  | Rate |  | Balance |  | Interest(1) |  | Rate
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-earning assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net loans(2) | $ | 23,899,742 |  |  | $ | 349,490 |  |  | 5.86 | % |  | $ | 24,006,863 |  |  | $ | 347,626 |  |  | 5.86 | % |  | $ | 23,345,914 |  |  | $ | 355,533 |  |  | 6.12 | %
| Investment securities(3) | 5,390,953 |  |  | 49,463 |  |  | 3.67 | % |  | 5,199,000 |  |  | 47,242 |  |  | 3.63 | % |  | 4,396,050 |  |  | 33,799 |  |  | 3.07 | %
| Other interest-earning assets | 682,075 |  |  | 8,197 |  |  | 4.82 | % |  | 793,126 |  |  | 9,164 |  |  | 4.67 | % |  | 1,125,886 |  |  | 15,730 |  |  | 5.61 | %
| Total Interest-Earning Assets | 29,972,770 |  |  | 407,150 |  |  | 5.44 | % |  | 29,998,989 |  |  | 404,032 |  |  | 5.44 | % |  | 28,867,850 |  |  | 405,062 |  |  | 5.64 | %
Noninterest-earning assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash and due from banks | 277,880 |  |  |  |  |  |  | 301,897 |  |  |  |  |  |  | 302,381 |  |  |  |  |
| Premises and equipment | 186,989 |  |  |  |  |  |  | 191,248 |  |  |  |  |  |  | 203,166 |  |  |  |  |
| Other assets | 1,848,891 |  |  |  |  |  |  | 1,864,996 |  |  |  |  |  |  | 1,759,138 |  |  |  |  |
| Less: ACL - loans(4) | (384,956) |  |  |  |  |  |  | (385,529) |  |  |  |  |  |  | (357,644) |  |  |  |  |
| Total Assets | $ | 31,901,574 |  |  |  |  |  |  | $ | 31,971,601 |  |  |  |  |  |  | $ | 30,774,891 |  |  |  |  |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest-bearing liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Demand deposits | $ | 7,800,881 |  |  | $ | 34,745 |  |  | 1.79 | % |  | $ | 7,753,586 |  |  | $ | 34,189 |  |  | 1.79 | % |  | $ | 7,080,302 |  |  | $ | 31,748 |  |  | 1.80 | %
| Savings deposits | 8,219,637 |  |  | 47,462 |  |  | 2.32 | % |  | 7,971,728 |  |  | 45,101 |  |  | 2.29 | % |  | 7,309,141 |  |  | 44,901 |  |  | 2.47 | %
| Brokered deposits | 688,957 |  |  | 7,495 |  |  | 4.36 | % |  | 904,722 |  |  | 10,038 |  |  | 4.50 | % |  | 1,123,328 |  |  | 15,074 |  |  | 5.40 | %
| Time deposits | 4,112,130 |  |  | 39,492 |  |  | 3.85 | % |  | 4,127,784 |  |  | 41,564 |  |  | 4.08 | % |  | 3,670,158 |  |  | 39,364 |  |  | 4.31 | %
| Total Interest-Bearing Deposits | 20,821,605 |  |  | 129,194 |  |  | 2.49 | % |  | 20,757,820 |  |  | 130,892 |  |  | 2.56 | % |  | 19,182,929 |  |  | 131,087 |  |  | 2.75 | %
| Borrowings and other interest-bearing liabilities | 1,756,246 |  |  | 18,646 |  |  | 4.26 | % |  | 1,754,900 |  |  | 17,613 |  |  | 4.07 | % |  | 2,441,691 |  |  | 27,699 |  |  | 4.53 | %
| Total Interest-Bearing Liabilities | 22,577,851 |  |  | 147,840 |  |  | 2.62 | % |  | 22,512,720 |  |  | 148,505 |  |  | 2.67 | % |  | 21,624,620 |  |  | 158,786 |  |  | 2.95 | %
Noninterest-bearing liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Demand deposits | 5,303,997 |  |  |  |  |  |  | 5,412,063 |  |  |  |  |  |  | 5,460,025 |  |  |  |  |
| Other liabilities | 715,711 |  |  |  |  |  |  | 792,693 |  |  |  |  |  |  | 737,575 |  |  |  |  |
| Total Liabilities | 28,597,559 |  |  |  |  |  |  | 28,717,476 |  |  |  |  |  |  | 27,822,220 |  |  |  |  |
| Total Deposits | 26,125,602 |  |  |  |  | 1.98 | % |  | 26,169,883 |  |  |  |  | 2.03 | % |  | 24,642,954 |  |  |  |  | 2.14 | %
| Total interest-bearing liabilities and non-interest bearing deposits (cost of funds) | 27,881,848 |  |  |  |  | 2.13 | % |  | 27,924,783 |  |  |  |  | 2.15 | % |  | 27,084,645 |  |  |  |  | 2.35 | %
| Shareholders' equity | 3,304,015 |  |  |  |  |  |  | 3,254,125 |  |  |  |  |  |  | 2,952,671 |  |  |  |  |
| Total Liabilities and Shareholders' Equity | $ | 31,901,574 |  |  |  |  |  |  | $ | 31,971,601 |  |  |  |  |  |  | $ | 30,774,891 |  |  |  |  |
| Net interest income/net interest margin (fully taxable equivalent) |  |  | 259,310 |  |  | 3.47 | % |  |  |  | 255,527 |  |  | 3.43 | % |  |  |  | 246,276 |  |  | 3.43 | %
| Tax equivalent adjustment |  |  | (4,389) |  |  |  |  |  |  | (4,340) |  |  |  |  |  |  | (4,556) |  |  |
| Net Interest Income |  |  | $ | 254,921 |  |  |  |  |  |  | $ | 251,187 |  |  |  |  |  |  | $ | 241,720 |  |  |
| (1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances. |  |  |  |  |  |  |  |
| (2) Average balances include non-performing loans.
| (3) Average balances include amortized historical cost for AFS securities; the related unrealized holding gains (losses) are included in other assets.
| (4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.

10

FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)
(dollars in thousands)
|  | Three months ended |
|  | Jun 30 |  | Mar 31 |  | Dec 31 |  | Sep 30 |  | Jun 30 |
|  | 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024 |
Loans, by type: |  |  |  |  |  |  |  |  |  |
| Real estate - commercial mortgage | $ | 9,652,320 |  |  | $ | 9,655,283 |  |  | $ | 9,595,996 |  |  | $ | 9,318,273 |  |  | $ | 8,958,139 |  |
| Commercial and industrial | 4,530,085 |  |  | 4,608,401 |  |  | 4,730,101 |  |  | 4,998,051 |  |  | 4,853,583 |  |
| Real estate - residential mortgage | 6,448,443 |  |  | 6,367,978 |  |  | 6,319,205 |  |  | 6,268,922 |  |  | 5,977,132 |  |
| Real estate - home equity | 1,179,109 |  |  | 1,160,713 |  |  | 1,116,665 |  |  | 1,122,313 |  |  | 1,117,367 |  |
| Real estate - construction | 1,172,138 |  |  | 1,296,090 |  |  | 1,312,245 |  |  | 1,437,907 |  |  | 1,430,057 |  |
| Consumer | 599,505 |  |  | 615,741 |  |  | 665,261 |  |  | 682,602 |  |  | 685,183 |  |
| Leases and other loans(1) | 318,142 |  |  | 302,657 |  |  | 329,311 |  |  | 319,733 |  |  | 324,453 |  |
| Total Net Loans | $ | 23,899,742 |  |  | $ | 24,006,863 |  |  | $ | 24,068,784 |  |  | $ | 24,147,801 |  |  | $ | 23,345,914 |  |
Deposits, by type: |  |  |  |  |  |  |  |  |  |
| Noninterest-bearing demand | $ | 5,303,997 |  |  | $ | 5,412,063 |  |  | $ | 5,558,110 |  |  | $ | 5,495,950 |  |  | $ | 5,460,025 |  |
| Interest-bearing demand | 7,800,881 |  |  | 7,753,586 |  |  | 7,838,590 |  |  | 7,668,583 |  |  | 7,080,302 |  |
| Savings | 8,219,637 |  |  | 7,971,728 |  |  | 7,806,303 |  |  | 7,663,599 |  |  | 7,309,141 |  |
| Total demand and savings | 21,324,515 |  |  | 21,137,377 |  |  | 21,203,003 |  |  | 20,828,132 |  |  | 19,849,468 |  |
| Brokered | 688,957 |  |  | 904,722 |  |  | 877,526 |  |  | 842,661 |  |  | 1,123,328 |  |
| Time | 4,112,130 |  |  | 4,127,784 |  |  | 4,232,849 |  |  | 4,107,466 |  |  | 3,670,158 |  |
| Total Deposits | $ | 26,125,602 |  |  | $ | 26,169,883 |  |  | $ | 26,313,378 |  |  | $ | 25,778,259 |  |  | $ | 24,642,954 |  |
Borrowings, by type: |  |  |  |  |  |  |  |  |  |
| Federal funds purchased | $ | 1,099 |  |  | $ | — |  |  | $ | 54 |  |  | $ | — |  |  | $ | 32,637 |  |
| Federal Home Loan Bank advances | 712,198 |  |  | 709,367 |  |  | 727,957 |  |  | 754,130 |  |  | 833,726 |  |
| Senior debt and subordinated debt | 367,438 |  |  | 367,357 |  |  | 449,795 |  |  | 535,831 |  |  | 535,656 |  |
| Other borrowings and other interest-bearing liabilities | 675,511 |  |  | 678,176 |  |  | 669,625 |  |  | 939,387 |  |  | 1,039,672 |  |
| Total Borrowings | $ | 1,756,246 |  |  | $ | 1,754,900 |  |  | $ | 1,847,431 |  |  | $ | 2,229,348 |  |  | $ | 2,441,691 |  |
(1) Includes equipment lease financing, overdraft and net origination fees and costs. |

11

FULTON FINANCIAL CORPORATION |  |  |  |  |  |  |  |  |  |
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED) |  |  |  |  |  |
(dollars in thousands) |  |  |  |  |  |
|  |  | Six months ended June 30
|  |  | 2025 |  | 2024
|  |  | Average |  |  |  | Yield/ |  | Average |  |  |  | Yield/
|  |  | Balance |  | Interest(1) |  | Rate |  | Balance |  | Interest(1) |  | Rate
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Interest-earning assets: |  |  |  |  |  |  |  |  |  |  |  |
| Net loans(2) |  | $ | 23,953,003 |  |  | $ | 697,115 |  |  | 5.86 | % |  | $ | 22,357,972 |  |  | $ | 669,414 |  |  | 6.02 | %
| Investment securities(3) |  | 5,295,507 |  |  | 96,706 |  |  | 3.65 | % |  | 4,189,901 |  |  | 60,847 |  |  | 2.90 | %
| Other interest-earning assets |  | 737,302 |  |  | 17,361 |  |  | 4.74 | % |  | 699,547 |  |  | 19,059 |  |  | 5.47 | %
| Total Interest-Earning Assets |  | 29,985,812 |  |  | 811,182 |  |  | 5.44 | % |  | 27,247,420 |  |  | 749,320 |  |  | 5.52 | %
Noninterest-Earning assets: |  |  |  |  |  |  |  |  |  |  |  |
| Cash and due from banks |  | 289,822 |  |  |  |  |  |  | 292,638 |  |  |  |  |
| Premises and equipment |  | 189,108 |  |  |  |  |  |  | 213,270 |  |  |  |  |
| Other assets |  | 1,856,900 |  |  |  |  |  |  | 1,686,941 |  |  |  |  |
| Less: ACL - loans(4) |  | (385,241) |  |  |  |  |  |  | (326,950) |  |  |  |  |
| Total Assets |  | $ | 31,936,401 |  |  |  |  |  |  | $ | 29,113,319 |  |  |  |  |
LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Interest-Bearing liabilities: |  |  |  |  |  |  |  |  |  |  |  |
| Demand deposits |  | $ | 7,777,364 |  |  | $ | 68,934 |  |  | 1.79 | % |  | $ | 6,338,513 |  |  | $ | 52,248 |  |  | 1.66 | %
| Savings deposits |  | 8,134,377 |  |  | 92,563 |  |  | 2.29 | % |  | 6,989,186 |  |  | 83,699 |  |  | 2.41 | %
| Brokered deposits |  | 796,243 |  |  | 17,533 |  |  | 4.44 | % |  | 1,103,356 |  |  | 29,728 |  |  | 5.42 | %
| Time deposits |  | 4,081,913 |  |  | 81,055 |  |  | 4.00 | % |  | 3,319,249 |  |  | 68,986 |  |  | 4.18 | %
| Total Interest-Bearing Deposits |  | 20,789,897 |  |  | 260,085 |  |  | 2.52 | % |  | 17,750,304 |  |  | 234,661 |  |  | 2.66 | %
| Borrowings and other interest-bearing liabilities |  | 1,755,577 |  |  | 36,260 |  |  | 4.17 | % |  | 2,525,034 |  |  | 56,854 |  |  | 4.49 | %
| Total Interest-Bearing Liabilities |  | 22,545,474 |  |  | 296,345 |  |  | 2.65 | % |  | 20,275,338 |  |  | 291,515 |  |  | 2.89 | %
Noninterest-Bearing liabilities: |  |  |  |  |  |  |  |  |  |  |  |
| Demand deposits |  | 5,357,731 |  |  |  |  |  |  | 5,260,550 |  |  |  |  |
| Other liabilities |  | 753,988 |  |  |  |  |  |  | 717,623 |  |  |  |  |
| Total Liabilities |  | 28,657,193 |  |  |  |  |  |  | 26,253,511 |  |  |  |  |
| Total Deposits |  | 26,147,628 |  |  |  |  | 2.01 | % |  | 23,010,854 |  |  |  |  | 2.05 | %
| Total interest-bearing liabilities and non-interest bearing deposits (cost of funds) |  | 27,903,205 |  |  |  |  | 2.14 | % |  | 25,535,888 |  |  |  |  | 2.29 | %
| Shareholders' equity |  | 3,279,208 |  |  |  |  |  |  | 2,859,808 |  |  |  |  |
| Total Liabilities and Shareholders' Equity |  | $ | 31,936,401 |  |  |  |  |  |  | $ | 29,113,319 |  |  |  |  |
| Net interest income/net interest margin (fully taxable equivalent) |  |  |  | 514,837 |  |  | 3.45 | % |  |  |  | 457,805 |  |  | 3.37 | %
| Tax equivalent adjustment |  |  |  | (8,730) |  |  |  |  |  |  | (9,148) |  |  |
| Net Interest Income |  |  |  | $ | 506,107 |  |  |  |  |  |  | $ | 448,657 |  |  |
| (1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances. |  |  |
| (2) Average balances include non-performing loans. |  |  |  |  |  |  |  |  |  |  |  |
| (3) Average balances include amortized historical cost for AFS; the related unrealized holding gains (losses) are included in other assets.
| (4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.

12

FULTON FINANCIAL CORPORATION |  |  |  |
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)
(dollars in thousands)
|  |  | Six months ended June 30 |  |
|  |  | 2025 |  | 2024 |  |
Loans, by type: |  |  |  |  |  |
| Real estate - commercial mortgage |  | $ | 9,653,793 |  |  | $ | 8,562,077 |  |  |
| Commercial and industrial |  | 4,569,027 |  |  | 4,685,383 |  |  |
| Real estate - residential mortgage |  | 6,408,432 |  |  | 5,665,518 |  |  |
| Real estate - home equity |  | 1,169,961 |  |  | 1,078,344 |  |  |
| Real estate - construction |  | 1,233,770 |  |  | 1,335,348 |  |  |
| Consumer |  | 607,578 |  |  | 703,353 |  |  |
| Leases and other loans(1) |  | 310,442 |  |  | 327,949 |  |  |
| Total Net Loans |  | $ | 23,953,003 |  |  | $ | 22,357,972 |  |  |
Deposits, by type: |  |  |  |  |  |
| Noninterest-bearing demand |  | $ | 5,357,731 |  |  | $ | 5,260,550 |  |  |
| Interest-bearing demand |  | 7,777,364 |  |  | 6,338,513 |  |  |
| Savings |  | 8,134,377 |  |  | 6,989,186 |  |  |
| Total demand and savings |  | 21,269,472 |  |  | 18,588,249 |  |  |
| Brokered |  | 796,243 |  |  | 1,103,356 |  |  |
| Time |  | 4,081,913 |  |  | 3,319,249 |  |  |
| Total Deposits |  | $ | 26,147,628 |  |  | $ | 23,010,854 |  |  |
Borrowings, by type: |  |  |  |  |  |
| Federal funds purchased |  | $ | 552 |  |  | $ | 103,148 |  |  |
| Federal Home Loan Bank advances |  | 710,790 |  |  | 868,308 |  |  |
| Senior debt and subordinated debt |  | 367,398 |  |  | 535,567 |  |  |
| Other borrowings |  | 676,837 |  |  | 1,018,011 |  |  |
| Total Borrowings |  | $ | 1,755,577 |  |  | $ | 2,525,034 |  |  |
(1) Includes equipment lease financing, overdraft and net origination fees and costs.

13

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 |
|  | 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024 |  | 2025 |  | 2024 |
Allowance for credit losses related to net loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period | $ | 379,677 |  | $ | 379,156 |  | $ | 375,961 |  | $ | 375,941 |  | $ | 297,888 |  | $ | 379,156 |  |  | $ | 293,404 |  |
| CECL day 1 provision expense(1) | — |  | — |  | — |  | — |  | 23,444 |  | — |  |  | 23,444 |  |
| Initial purchased credit deteriorated allowance for credit losses | — |  | — |  | (136) |  | (1,139) |  | 55,906 |  | — |  |  | 55,906 |  |
| Loans charged off: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Real estate - commercial mortgage | (6,402) |  | (12,106) |  | (2,844) |  | (2,723) |  | (7,853) |  | (18,508) |  |  | (7,879) |  |
| Commercial and industrial | (5,780) |  | (3,865) |  | (9,480) |  | (6,256) |  | (2,955) |  | (9,645) |  |  | (10,587) |  |
| Real estate - residential mortgage | (258) |  | (343) |  | (55) |  | (1,131) |  | (35) |  | (601) |  |  | (286) |  |
| Consumer and home equity | (1,885) |  | (2,193) |  | (2,179) |  | (2,308) |  | (1,766) |  | (4,078) |  |  | (4,004) |  |
| Real estate - construction | (100) |  | — |  | — |  | — |  | — |  | (100) |  |  | — |  |
| Leases and other loans(2) | (1,491) |  | (1,527) |  | (1,768) |  | (726) |  | (1,398) |  | (3,018) |  |  | (2,203) |  |
| Total loans charged off | (15,916) |  | (20,034) |  | (16,326) |  | (13,144) |  | (14,007) |  | (35,950) |  |  | (24,959) |  |
Recoveries of loans previously charged off: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Real estate - commercial mortgage | 133 |  | 374 |  | 199 |  | 107 |  | 146 |  | 507 |  |  | 298 |  |
| Commercial and industrial | 2,628 |  | 5,952 |  | 1,387 |  | 1,008 |  | 796 |  | 8,580 |  |  | 2,044 |  |
| Real estate - residential mortgage | 203 |  | 174 |  | 104 |  | 130 |  | 122 |  | 377 |  |  | 238 |  |
| Consumer and home equity | 899 |  | 660 |  | 974 |  | 545 |  | 1,161 |  | 1,559 |  |  | 1,837 |  |
| Real estate - construction | 99 |  | 82 |  | 47 |  | 103 |  | 233 |  | 181 |  |  | 233 |  |
| Leases and other loans(2) | 240 |  | 201 |  | 194 |  | 129 |  | 247 |  | 441 |  |  | 409 |  |
| Total recoveries of loans previously charged off | 4,202 |  | 7,443 |  | 2,905 |  | 2,022 |  | 2,705 |  | 11,645 |  |  | 5,059 |  |
Net loans charged off | (11,714) |  | (12,591) |  | (13,421) |  | (11,122) |  | (11,302) |  | (24,305) |  |  | (19,900) |  |
Provision for credit losses(1) | 9,374 |  | 13,112 |  | 16,752 |  | 12,281 |  | 10,005 |  | 22,486 |  |  | 23,087 |  |
Balance at end of period | $ | 377,337 |  | $ | 379,677 |  | $ | 379,156 |  | $ | 375,961 |  | $ | 375,941 |  | $ | 377,337 |  |  | $ | 375,941 |  |
Net charge-offs to average loans(3) | 0.20 | % |  | 0.21 | % |  | 0.22 | % |  | 0.18 | % |  | 0.19 | % |  | 0.20 | % |  | 0.18 | % |
Provision for credit losses related to OBS Credit Exposures |  |  |  |  |  |  |  |  |  |
| Provision for credit losses(1) | $ | (767) |  | $ | 786 |  | $ | (27) |  | $ | (352) |  | $ | (1,393) |  | $ | 19 |  | $ | (3,550) |
NON-PERFORMING ASSETS: |  |  |  |  |  |  |  |  |  |  |  |  |
| Non-accrual loans | $ | 182,942 |  | $ | 162,426 |  | $ | 189,293 |  | $ | 175,861 |  | $ | 145,630 |  |  |  |  |
| Loans 90 days past due and accruing | 29,949 |  | 34,367 |  | 30,781 |  | 26,286 |  | 26,962 |  |  |  |  |
| Total non-performing loans | 212,891 |  | 196,793 |  | 220,074 |  | 202,147 |  | 172,592 |  |  |  |  |
| Other real estate owned | 2,706 |  | 2,193 |  | 2,621 |  | 2,844 |  | 1,444 |  |  |  |  |
| Total non-performing assets | $ | 215,597 |  | $ | 198,986 |  | $ | 222,695 |  | $ | 204,991 |  | $ | 174,036 |  |  |  |  |
NON-PERFORMING LOANS, BY TYPE: |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial and industrial | $ | 45,565 |  | $ | 42,913 |  | $ | 43,677 |  | $ | 64,450 |  | $ | 58,433 |  |  |  |  |
| Real estate - commercial mortgage | 90,852 |  | 88,081 |  | 102,359 |  | 71,467 |  | 48,615 |  |  |  |  |
| Real estate - residential mortgage | 37,703 |  | 46,878 |  | 45,901 |  | 41,727 |  | 41,033 |  |  |  |  |
| Consumer and home equity | 11,109 |  | 12,682 |  | 14,374 |  | 12,830 |  | 11,886 |  |  |  |  |
| Real estate - construction | 25,602 |  | 3,666 |  | 1,746 |  | 1,746 |  | 2,632 |  |  |  |  |
| Leases and other loans(2) | 2,060 |  | 2,573 |  | 12,017 |  | 9,927 |  | 9,993 |  |  |  |  |
| Total non-performing loans | $ | 212,891 |  | $ | 196,793 |  | $ | 220,074 |  | $ | 202,147 |  | $ | 172,592 |  |  |  |  |
(1) The sum of these amounts are reflected in the provision for credit losses in the Condensed Consolidated Statements of Income. |
(2) Includes equipment lease financing, overdraft and net origination fees and costs. |
(3) Quarterly results are annualized. |  |  |  |  |  |  |  |  |  |  |  |

14

FULTON FINANCIAL CORPORATION |  |  |  |
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED) |  |  |  |
(dollars in thousands, except per share and share data) |  |  |  |
Explanatory note: | This press release contains supplemental financial information, as detailed below, that has been derived by methods other than 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 and financial condition. 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 |  |  |  |
|  |  |  |  |  | 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024 |  |  |  |
Operating net income available to common shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 96,636 |  | $ | 90,425 |  | $ | 66,058 |  | $ | 60,644 |  | $ | 92,413 |  |  |  |
Less: Other revenue |  | (9) |  | (122) |  | (269) |  | (677) |  | (708) |  |  |  |
Plus: Gain on acquisition, net of tax |  | — |  | — |  | 2,689 |  | 7,706 |  | (47,392) |  |  |  |
Plus: Loss on securities restructuring |  | — |  | — |  | — |  | — |  | 20,282 |  |  |  |
Plus: Core deposit intangible amortization |  | 5,346 |  | 6,155 |  | 6,155 |  | 6,155 |  | 4,556 |  |  |  |
Plus: Acquisition-related expense |  | — |  | 380 |  | 9,637 |  | 14,195 |  | 13,803 |  |  |  |
Plus: CECL day 1 provision expense |  | — |  | — |  | — |  | — |  | 23,444 |  |  |  |
Less: Gain on sale-leaseback |  | — |  | — |  | — |  | — |  | (20,266) |  |  |  |
Plus: FDIC special assessment |  | — |  | — |  | — |  | (16) |  | — |  |  |  |
Plus: FultonFirst implementation and asset disposals |  | (270) |  | (47) |  | 10,001 |  | 9,385 |  | 6,323 |  |  |  |
Less: Tax impact of adjustments |  | (1,064) |  | (1,337) |  | (5,360) |  | (6,099) |  | (9,961) |  |  |  |
Operating net income available to common shareholders (numerator) |  | $ | 100,639 |  | $ | 95,454 |  | $ | 88,911 |  | $ | 91,293 |  | $ | 82,494 |  |  |  |
Weighted average shares (diluted) (denominator) |  | 183,813 |  | 184,077 |  | 183,867 |  | 183,609 |  | 176,934 |  |  |  |
Operating net income available to common shareholders, per share (diluted) |  | $ | 0.55 |  | $ | 0.52 |  | $ | 0.48 |  | $ | 0.50 |  | $ | 0.47 |  |  |  |
Common shareholders' equity (tangible), per share |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shareholders' equity |  | $ | 3,329,246 |  | $ | 3,274,321 |  | $ | 3,197,325 |  | $ | 3,203,943 |  | $ | 3,101,609 |  |  |  |
Less: Preferred stock |  | (192,878) |  | (192,878) |  | (192,878) |  | (192,878) |  | (192,878) |  |  |  |
Less: Goodwill and intangible assets |  | (623,729) |  | (629,189) |  | (635,458) |  | (641,739) |  | (648,026) |  |  |  |
Tangible common shareholders' equity (numerator) |  | $ | 2,512,639 |  | $ | 2,452,254 |  | $ | 2,368,989 |  | $ | 2,369,326 |  | $ | 2,260,705 |  |  |  |
Shares outstanding, end of period (denominator) |  | 182,379 |  | 182,204 |  | 182,089 |  | 181,957 |  | 181,831 |  |  |  |
Common shareholders' equity (tangible), per share |  | $ | 13.78 |  | $ | 13.46 |  | $ | 13.01 |  | $ | 13.02 |  | $ | 12.43 |  |  |  |

15

|  |  |  |  |  | Three months ended |  |  |  |
|  |  |  |  |  | Jun 30 |  | Mar 31 |  | Dec 31 |  | Sep 30 |  | Jun 30 |  |  |  |
|  |  |  |  |  | 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024 |  |  |  |
Operating return on average assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 99,198 |  | $ | 92,987 |  | $ | 68,620 |  | $ | 63,206 |  | $ | 94,975 |  |  |  |
Less: Other revenue |  | (9) |  | (122) |  | (269) |  | (677) |  | (708) |  |  |  |
Less: Gain on acquisition, net of tax |  | — |  | — |  | 2,689 |  | 7,706 |  | (47,392) |  |  |  |
Plus: Loss on securities restructuring |  | — |  | — |  | — |  | — |  | 20,282 |  |  |  |
Plus: Core deposit intangible amortization |  | 5,346 |  | 6,155 |  | 6,155 |  | 6,155 |  | 4,556 |  |  |  |
Plus: Acquisition-related expense |  | — |  | 380 |  | 9,637 |  | 14,195 |  | 13,803 |  |  |  |
Plus: CECL day 1 provision expense |  | — |  | — |  | — |  | — |  | 23,444 |  |  |  |
Less: Gain on sale-leaseback |  | — |  | — |  | — |  | — |  | (20,266) |  |  |  |
Plus: FDIC special assessment |  | — |  | — |  | — |  | (16) |  | — |  |  |  |
Plus: FultonFirst implementation and asset disposals |  | (270) |  | (47) |  | 10,001 |  | 9,385 |  | 6,323 |  |  |  |
Less: Tax impact of adjustments |  | (1,064) |  | (1,337) |  | (5,360) |  | (6,099) |  | (9,961) |  |  |  |
Operating net income (numerator) |  | $ | 103,201 |  | $ | 98,016 |  | $ | 91,473 |  | $ | 93,855 |  | $ | 85,056 |  |  |  |
Total average assets |  | $ | 31,901,574 |  | $ | 31,971,601 |  | $ | 32,098,852 |  | $ | 31,895,235 |  | $ | 30,774,891 |  |  |  |
Less: Average net core deposit intangible |  | (71,282) |  | (77,039) |  | (83,173) |  | (89,350) |  | (68,234) |  |  |  |
Total operating average assets (denominator) |  | $ | 31,830,292 |  | $ | 31,894,562 |  | $ | 32,015,679 |  | $ | 31,805,885 |  | $ | 30,706,657 |  |  |  |
Operating return on average assets(1) |  | 1.30% |  | 1.25% |  | 1.14% |  | 1.17% |  | 1.11% |  |  |  |
Operating return on average common shareholders' equity (tangible) |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 96,636 |  | $ | 90,425 |  | $ | 66,058 |  | $ | 60,644 |  | $ | 92,413 |  |  |  |
Less: Other revenue |  | (9) |  | (122) |  | (269) |  | (677) |  | (708) |  |  |  |
Less: Gain on acquisition, net of tax |  | — |  | — |  | 2,689 |  | 7,706 |  | (47,392) |  |  |  |
Plus: Loss on securities restructuring |  | — |  | — |  | — |  | — |  | 20,282 |  |  |  |
Plus: Intangible amortization |  |  | 5,460 |  | 6,269 |  | 6,282 |  | 6,287 |  | 4,688 |  |  |  |
Plus: Acquisition-related expense |  |  | — |  | 380 |  | 9,637 |  | 14,195 |  | 13,803 |  |  |  |
Plus: CECL day 1 provision expense |  | — |  | — |  | — |  | — |  | 23,444 |  |  |  |
Less: Gain on sale-leaseback |  | — |  | — |  | — |  | — |  | (20,266) |  |  |  |
Plus: FDIC special assessment |  | — |  | — |  | — |  | (16) |  | — |  |  |  |
Plus: FultonFirst implementation and asset disposals |  | (270) |  | (47) |  | 10,001 |  | 9,385 |  | 6,323 |  |  |  |
Less: Tax impact of adjustments |  |  | (1,088) |  | (1,361) |  | (5,387) |  | (6,127) |  | (9,989) |  |  |  |
Adjusted net income available to common shareholders (numerator) |  | $ | 100,729 |  | $ | 95,544 |  | $ | 89,011 |  | $ | 91,397 |  | $ | 82,598 |  |  |  |
Average shareholders' equity |  | $ | 3,304,015 |  | $ | 3,254,125 |  | $ | 3,219,026 |  | $ | 3,160,322 |  | $ | 2,952,671 |  |  |  |
Less: Average preferred stock |  | (192,878) |  | (192,878) |  | (192,878) |  | (192,878) |  | (192,878) |  |  |  |
Less: Average goodwill and intangible assets |  | (626,383) |  | (632,254) |  | (638,507) |  | (644,814) |  | (624,471) |  |  |  |
Average tangible common shareholders' equity (denominator) |  | $ | 2,484,754 |  | $ | 2,428,993 |  | $ | 2,387,641 |  | $ | 2,322,630 |  | $ | 2,135,322 |  |  |  |
Operating return on average common shareholders' equity (tangible)(1) |  | 16.26% |  | 15.95% |  | 14.83% |  | 15.65% |  | 15.56% |  |  |  |
(1) Results are annualized. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

16

|  |  |  |  |  | Three months ended |  |  |  |
|  |  |  |  |  | Jun 30 |  | Mar 31 |  | Dec 31 |  | Sep 30 |  | Jun 30 |  |  |  |
|  |  |  |  |  | 2025 |  | 2025 |  | 2024 |  | 2024 |  | 2024 |  |  |  |
Tangible common equity to tangible assets (TCE Ratio) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shareholders' equity |  | $ | 3,329,246 |  | $ | 3,274,321 |  | $ | 3,197,325 |  | $ | 3,203,943 |  | $ | 3,101,609 |  |  |  |
Less: Preferred stock |  | (192,878) |  | (192,878) |  | (192,878) |  | (192,878) |  | (192,878) |  |  |  |
Less: Goodwill and intangible assets |  | (623,729) |  | (629,189) |  | (635,458) |  | (641,739) |  | (648,026) |  |  |  |
Tangible common shareholders' equity (numerator) |  | $ | 2,512,639 |  | $ | 2,452,254 |  | $ | 2,368,989 |  | $ | 2,369,326 |  | $ | 2,260,705 |  |  |  |
Total assets |  | $ | 32,040,448 |  | $ | 32,132,028 |  | $ | 32,071,810 |  | $ | 32,185,726 |  | $ | 31,769,813 |  |  |  |
Less: Goodwill and intangible assets |  | (623,729) |  | (629,189) |  | (635,458) |  | (641,739) |  | (648,026) |  |  |  |
Total tangible assets (denominator) |  | $ | 31,416,719 |  | $ | 31,502,839 |  | $ | 31,436,352 |  | $ | 31,543,987 |  | $ | 31,121,787 |  |  |  |
Tangible common equity to tangible assets |  | 8.00% |  | 7.78% |  | 7.54% |  | 7.51% |  | 7.26% |  |  |  |
Efficiency ratio |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest expense |  | $ | 192,811 |  | $ | 189,460 |  | $ | 216,615 |  | $ | 226,089 |  | $ | 199,488 |  |  |  |
Less: Acquisition-related expense |  | — |  | (380) |  | (9,637) |  | (14,195) |  | (13,803) |  |  |  |
Plus: Gain on sale-leaseback |  | — |  | — |  | — |  | — |  | 20,266 |  |  |  |
Less: FDIC special assessment |  | — |  | — |  | — |  | 16 |  | — |  |  |  |
Less: FultonFirst implementation and asset disposals |  | 270 |  | 47 |  | (10,001) |  | (9,385) |  | (6,323) |  |  |  |
Less: Intangible amortization |  | (5,460) |  | (6,269) |  | (6,282) |  | (6,287) |  | (4,688) |  |  |  |
Operating non-interest expense (numerator) |  | $ | 187,621 |  | $ | 182,858 |  | $ | 190,695 |  | $ | 196,238 |  | $ | 194,940 |  |  |  |
Net interest income |  | $ | 254,921 |  | $ | 251,187 |  | $ | 253,659 |  | $ | 258,009 |  | $ | 241,720 |  |  |  |
Tax equivalent adjustment |  | 4,389 |  | 4,340 |  | 4,343 |  | 4,424 |  | 4,556 |  |  |  |
Plus: Total non-interest income |  | 69,148 |  | 67,232 |  | 65,924 |  | 59,673 |  | 92,994 |  |  |  |
Less: Other revenue |  | (9) |  | (122) |  | (269) |  | (677) |  | (708) |  |  |  |
Less: Gain on acquisition, net of tax |  | — |  | — |  | 2,689 |  | 7,706 |  | (47,392) |  |  |  |
Plus: Investment securities (gains) losses, net |  | — |  | 2 |  | — |  | 1 |  | 20,282 |  |  |  |
Total revenue (denominator) |  | $ | 328,449 |  | $ | 322,639 |  | $ | 326,346 |  | $ | 329,136 |  | $ | 311,452 |  |  |  |
Efficiency ratio |  | 57.1% |  | 56.7% |  | 58.4% |  | 59.6% |  | 62.6% |  |  |  |
Operating non-interest expense to total average assets |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-interest expense |  | $ | 192,811 |  | $ | 189,460 |  | $ | 216,615 |  | $ | 226,089 |  | $ | 199,488 |  |  |  |
Less: Intangible amortization |  | (5,460) |  | (6,269) |  | (6,282) |  | (6,287) |  | (4,688) |  |  |  |
Less: Acquisition-related expense |  | — |  | (380) |  | (9,637) |  | (14,195) |  | (13,803) |  |  |  |
Plus: Gain on sale-leaseback |  | — |  | — |  | — |  | — |  | 20,266 |  |  |  |
Less: FDIC special assessment |  | — |  | — |  | — |  | 16 |  | — |  |  |  |
Less: FultonFirst implementation and asset disposals |  | 270 |  | 47 |  | (10,001) |  | (9,385) |  | (6,323) |  |  |  |
Operating non-interest expense (numerator) |  | $ | 187,621 |  | $ | 182,858 |  | $ | 190,695 |  | $ | 196,238 |  | $ | 194,940 |  |  |  |
Total average assets (denominator) |  | $ | 31,901,574 |  | $ | 31,971,601 |  | $ | 32,098,852 |  | $ | 31,895,235 |  | $ | 30,774,891 |  |  |  |
Operating non-interest expenses to total average assets(1) |  | 2.36% |  | 2.32% |  | 2.36% |  | 2.45% |  | 2.55% |  |  |  |
(1) Results are annualized. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

17

|  |  |  |  |  | Six Months Ended |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Jun 30 |  | Jun 30 |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | 2025 |  | 2024 |  |  |  |  |  |  |  |  |  |
Operating net income available to common shareholders |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 187,061 |  | $ | 151,792 |  |  |  |  |  |  |  |  |  |
Less: Other revenue |  | (131) |  | (859) |  |  |  |  |  |  |  |  |  |
Plus Gain on acquisition, net of tax |  | — |  |  | (47,392) |  |  |  |  |  |  |  |  |  |  |
Plus: Loss on securities restructuring |  | — |  |  | 20,282 |  |  |  |  |  |  |  |  |  |  |
Plus: Core deposit intangible amortization |  | 11,501 |  |  | 4,997 |  |  |  |  |  |  |  |  |  |  |
Plus: Acquisition-related expense |  | 380 |  |  | 13,803 |  |  |  |  |  |  |  |  |  |  |
Plus: CECL day 1 provision expense |  | — |  |  | 23,444 |  |  |  |  |  |  |  |  |  |  |
Less: Gain on sale-leaseback |  | — |  |  | (20,266) |  |  |  |  |  |  |  |  |  |  |
Plus: FDIC special assessment |  | — |  | 956 |  |  |  |  |  |  |  |  |  |
Plus: FultonFirst implementation and asset disposals |  | (317) |  | 12,652 |  |  |  |  |  |  |  |  |  |
Less: Tax impact of adjustments |  | (2,401) |  | (11,552) |  |  |  |  |  |  |  |  |  |
Operating net income available to common shareholders (numerator) |  | $ | 196,093 |  | $ | 147,857 | 147,857 |  |  |  |  |  |  |  |  |
Weighted average shares (diluted) (denominator) |  | 183,999 |  |  | 170,769 |  |  |  |  |  |  |  |  |  |  |
Operating net income available to common shareholders, per share (diluted) |  | $ | 1.07 |  | $ | 0.87 |  |  |  |  |  |  |  |  |  |

18