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Here are 1-2 brief analogies for Fulton Financial (FULT):

• A smaller, regional version of Bank of America or Wells Fargo.
• Like PNC Bank or U.S. Bank, but concentrated in the Mid-Atlantic states.

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• Deposit Products: Offers various checking and savings accounts, certificates of deposit, and individual retirement accounts.
• Consumer Loans: Provides secured consumer loans including home equity, auto, personal lines of credit, overdraft protection, and residential mortgages.
• Commercial Loans & Financing: Includes commercial real estate, commercial and industrial, construction loans, and equipment lease financing.
• Business Banking Services: Delivers essential services such as cash management and letters of credit for businesses.
• Wealth Management Services: Offers investment management, trust, brokerage, insurance, and investment advisory services.

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Fulton Financial (FULT) is a financial institution that serves a broad customer base rather than having a few "major" identifiable customers in the traditional sense. Its customers are numerous individuals and businesses. Based on the provided description, the company serves primarily a diverse range of individuals and small to medium-sized businesses.

The major categories of customers that Fulton Financial serves are:

1. Individual Consumers: This category includes individuals who utilize the company's deposit products (such as checking accounts, savings accounts, certificates of deposit, and individual retirement accounts), consumer loans (including home equity loans and lines of credit, automobile loans, and personal lines of credit), and residential mortgage loans.
2. Commercial Businesses: This category encompasses various businesses, from small enterprises to larger corporations, seeking commercial lending products (such as commercial real estate, commercial and industrial, and construction loans), equipment lease financing, letters of credit, and cash management services.
3. Wealth Management Clients: These are individuals, families, and potentially institutional clients who engage Fulton Financial for specialized wealth management services, including investment management, trust services, brokerage, insurance, and investment advisory services.

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Curtis J. Myers, Chairman and Chief Executive Officer

Curtis J. Myers was appointed Chairman and Chief Executive Officer of Fulton Financial Corporation effective January 1, 2023. He has been with the company since 1990, serving as President and Chief Operating Officer from January 1, 2018, and first became an executive officer in July 2013. Mr. Myers holds a Bachelor of Science in Business Administration from Shippensburg University and a Master's degree in Business Administration from Saint Joseph's University. He is also a graduate of the Stonier Graduate School of Banking.

Richard S. Kraemer, Senior Executive Vice President and Chief Financial Officer

Richard S. Kraemer was appointed Senior Executive Vice President and Chief Financial Officer of Fulton Financial Corporation, effective November 1, 2024. He joined Fulton as Senior Executive Vice President and Chief Financial Officer Designee on September 3, 2024, with his official CFO appointment taking place in the fourth quarter of 2024. Mr. Kraemer brings over two decades of experience in the financial services industry. His prior roles include serving as Chief Banking Officer, overseeing commercial markets for another bank, where he had profit and loss responsibility. Before that, he was an Executive Vice President, Deputy Chief Financial Officer & Treasurer for a company with more than $60 billion in assets, responsible for all aspects of corporate treasury and corporate finance. He also held positions as Executive Vice President, Chief Financial Services Officer, and Head of Corporate Finance, Corporate Development and Investor Relations Officer. Mr. Kraemer earned a Bachelor of Science in Finance from Fordham University's Gabelli School of Business.

Angela Snyder, President

Angela Snyder was named President of Fulton Financial Corporation, effective January 1, 2024. She is scheduled to retire from her position as President on December 31, 2025.

Kevin Gremer, Senior Executive Vice President / Chief Operations and Technology Officer

Kevin Gremer has served as Senior Executive Vice President and Chief Operations and Technology Officer since August 2025. With over 27 years of experience in financial services, he previously held various executive roles at City National Bank and Capital One before joining Fulton.

Atul Malhotra, Executive Vice President and Chief Risk Officer

Atul Malhotra has been the Executive Vice President and Chief Risk Officer of Fulton Financial Corporation since February 2024. Prior to this role, he was the managing director of enterprise risk management at Fulton. His background also includes serving as a regulatory and risk strategy consultant for several publicly traded companies, including large, global financial institutions.

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Here are the key risks to Fulton Financial:

1. Interest Rate Risk: As a financial holding company, Fulton Financial's profitability is highly sensitive to fluctuations in interest rates. Changes in the interest rate environment, such as a rapid increase in funding costs or a flattening or inversion of the yield curve, can significantly impact the company's net interest margin and overall earnings. A mismatch between the interest rate sensitivity of its assets (like loans) and liabilities (like deposits) could negatively affect its financial performance.
2. Credit Risk: Fulton Financial is exposed to credit risk inherent in its diverse loan portfolio, which includes commercial real estate, commercial and industrial, construction, residential mortgage, home equity, and other consumer loans. An economic downturn, particularly in its primary operating regions of Pennsylvania, Maryland, Delaware, New Jersey, and Virginia, or adverse conditions in specific industries or sectors, could lead to increased loan defaults, higher loan loss provisions, and a deterioration in asset quality, thereby impacting the company's financial health.
3. Regulatory and Compliance Risk: The banking industry is subject to extensive and evolving federal and state laws and regulations. Changes in regulatory requirements, increased supervisory scrutiny, or failure to comply with existing or new regulations (e.g., related to capital adequacy, consumer protection, anti-money laundering, or data privacy) could result in increased compliance costs, operational restrictions, reputational damage, and significant penalties or fines, negatively affecting Fulton Financial's business and financial results.

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Threats to Fulton Financial (FULT) include:

• Digital-only banks and fintech companies: The rise of challenger banks (neobanks), specialized online lenders, and robo-advisors poses a significant threat by offering digital-first, often lower-cost, and more convenient alternatives for deposits, loans (consumer, commercial, mortgages), and wealth management services. These agile competitors can attract customers by streamlining processes and leveraging technology without the overhead of a traditional branch network.
• Big tech companies entering financial services: Companies like Apple, Google, and Amazon are leveraging their vast customer bases, data, and technological capabilities to offer financial products (e.g., credit cards, payment solutions, lending for businesses). While often partnering with existing banks, their entry into the financial services sector can disintermediate traditional banking relationships and shift customer loyalty away from established regional banks like Fulton Financial.

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Fulton Financial Corporation (FULT) operates as a financial holding company offering a range of consumer and commercial banking products and services, alongside wealth management services, primarily within Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.

Here are the addressable market sizes for Fulton Financial's main products and services, primarily at the U.S. national level:

• Retail Banking: The U.S. retail banking market was valued at approximately $1.28 trillion in 2025. Another estimate placed the U.S. retail banking market at USD 870 billion in 2025, projected to grow to USD 1,112.2 billion by 2031. Yet another source reported the U.S. retail banking market size as USD 2.34 trillion in 2025, with an expectation to reach USD 4.19 trillion by 2035. This market encompasses essential financial services for individuals, including checking and savings accounts, personal loans, and credit cards.
• Consumer Lending: The overall consumer lending market in the U.S. is a significant sector, with total household debt increasing to $18.8 trillion in the fourth quarter of 2025. More specifically, outstanding credit card balances totaled $1.28 trillion, auto loan balances reached $1.66 trillion, student loan balances stood at $1.66 trillion, and other consumer finance loans amounted to $564 billion as of Q4 2025.
• Home Mortgages: The U.S. home mortgage market size was valued at approximately USD 204.49 billion in 2024 and is projected to reach USD 571.64 billion by 2033, growing at a CAGR of 12.1% from 2024 to 2033. Another report indicated the market was worth around USD 180.91 billion in 2023, with a forecast to grow to approximately USD 501.67 billion by 2032. Total single-family mortgage origination volume in the U.S. is expected to increase to $2.2 trillion in 2026 from an estimated $2.0 trillion in 2025.
• Commercial Lending: The U.S. commercial banking market size was estimated at USD 765.53 billion in 2026, with projections to reach USD 954.48 billion by 2031, growing at a CAGR of 4.51% over 2026-2031. Another estimate for the U.S. commercial banking market was USD 231.9 billion in 2024, expected to reach USD 351.8 billion by 2033. Globally, the commercial lending market was valued at USD 10,923.28 billion in 2025 and is projected to grow to USD 28,369.38 billion by 2034.
• Commercial Real Estate (CRE) Lending: Total commercial real estate mortgage borrowing and lending in the U.S. was estimated at $498 billion in 2024. The broader U.S. Real Estate Loan Market was valued at USD 3.5 trillion in 2024.
• Equipment Lease Financing: The industrial equipment rental & leasing market size in the U.S. was $56.6 billion in 2025. The global machinery rental and leasing market is projected to reach USD 204.9 billion by 2035 from USD 137.1 billion in 2025. The global equipment finance services market was valued at $1.2 trillion in 2022 and is projected to reach $3.1 trillion by 2032.
• Wealth Management Services: The global wealth management services market was estimated at $2,009 billion by the end of 2025, and is expected to reach $3,426.11 billion by 2033. North America dominated the wealth management platform market with a valuation of USD 1.26 billion in 2025 and USD 1.4 billion in 2026. The global wealth management services market is projected to reach approximately USD 3.5 trillion by 2033.

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Fulton Financial (NASDAQ: FULT) anticipates several key drivers to fuel its revenue growth over the next two to three years, primarily stemming from its core banking operations, strategic expansion, and diversification of income streams.

Here are 4 expected drivers of future revenue growth:

1. Mid-Single-Digit Loan Growth: Management expects loan growth to return to historical mid-single-digit rates in 2026, supported by new banker hires and momentum in loan originations. This follows an increase in loans by $150 million in Q2 2025, representing a 2.5% annualized rise, driven by both consumer and commercial lending.

2. Strategic Acquisitions and Market Expansion: Fulton Financial has actively pursued strategic acquisitions to expand its footprint and asset base. The April 2024 acquisition of Republic First Bank's assets and deposits significantly boosted Fulton Bank's presence, particularly in the Philadelphia area, integrating approximately $6 billion in assets, including $2.9 billion in loans and $4 billion in deposits. Furthermore, the acquisition of Blue Foundry Bancorp, expected to close in early Q2 2026, is poised to strengthen Fulton's community banking model, enhancing market competitiveness and opening new business expansion opportunities.

3. Growth in Non-Interest Income: The company is focused on diversifying its revenue through fee-based services. Non-interest income is projected to range from $285 million to $300 million for 2026. This growth is expected to come from areas such as wealth management, cash management services, and card revenues. Wealth management revenues, in particular, have shown strong performance, with assets under management and administration reaching a record $15.5 billion in Q1 2024, with over 80% of these revenues being recurring.

4. Net Interest Margin (NIM) Management: Fulton Financial has demonstrated effective management of its net interest margin, which directly impacts Net Interest Income (NII), a primary revenue component for banks. The company's NIM expanded to 3.59% in Q4 2025, reflecting a relatively neutral interest rate profile despite several Federal Reserve rate cuts. NII is projected between $1.120 billion and $1.140 billion for 2026, with an emphasis on optimizing loan yields and managing funding costs.

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Share Repurchases

• Fulton Financial's Board of Directors approved a new share repurchase program of up to $150 million, effective January 1, 2026, through January 31, 2027. This program includes authorization to repurchase up to $25 million in preferred stock or subordinated notes.
• Under the 2025 Repurchase Program, Fulton repurchased $59.7 million of common stock as of December 31, 2025, which included 1,082,678 shares bought for $19.9 million in the fourth quarter of 2025.
• In March 2022, the company announced a share repurchase plan allowing for the repurchase of up to $75 million worth of shares, effective from April 1 to December 31, 2022. This plan replaced a prior $75 million authorization from February 2021, which had been extended by $31.1 million in November 2021.

Share Issuance

• Fulton Financial completed a public offering of 8,000,000 depositary shares, each representing a 1/40th interest in its 5.125% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, totaling $200 million. The expected net proceeds of $193.7 million were designated for general corporate purposes.

Outbound Investments

• Fulton Financial announced the acquisition of Blue Foundry Bancorp in an all-stock transaction valued at approximately $243 million, with the merger expected to close around Q2 2026. Under the terms, each Blue Foundry share will be exchanged for 0.6500 shares of Fulton common stock.
• In April 2024, Fulton Bank, a wholly-owned subsidiary, acquired substantially all the assets and assumed substantially all the deposits and certain liabilities of Republic First Bank from the Federal Deposit Insurance Corporation (FDIC) as receiver.
• In March 2022, Fulton Financial entered into an agreement to acquire Prudential Bancorp, Inc. for $142.1 million, with the transaction anticipated to close in the third quarter of 2022.