• A regional bank, much like a smaller PNC Bank serving the Mid-Atlantic states.
• Similar to M&T Bank, but with a more concentrated focus on Pennsylvania and surrounding states.

• Deposit Accounts: Offers a variety of checking, savings, money market, and certificate of deposit options for individuals and businesses to manage and save their funds.
• Commercial Lending: Provides various loan products and lines of credit to businesses for operating capital, equipment purchases, and commercial real estate.
• Consumer Lending: Offers a variety of loans to individuals, including residential mortgages, home equity lines of credit, auto loans, and personal loans.
• Wealth Management: Delivers investment management, financial planning, and trust and estate services to individuals, families, and businesses.
• Treasury Management Services: Provides businesses with solutions for optimizing cash flow, managing payments, and mitigating financial risks.

Fulton Financial (FULT) Major Customer Categories

• Retail Customers (Individuals): This category includes individuals and families who utilize a wide range of personal banking services such as checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), mortgages, home equity loans, auto loans, personal loans, and credit cards. Fulton also provides wealth management, trust, and investment services to individual clients.

• Commercial Customers (Businesses): Fulton Financial serves a diverse base of businesses, primarily small to medium-sized enterprises (SMEs) and middle-market companies. Services for this segment include commercial loans, lines of credit, business checking and savings accounts, treasury management services (e.g., payment processing, cash management, fraud protection), equipment financing, and other specialized business lending solutions.

• Commercial Real Estate (CRE) Clients: A significant portion of Fulton's business lending is directed towards the commercial real estate sector. This category includes real estate developers, investors, and property owners seeking financing for various types of commercial properties, such as multi-family residential, office buildings, retail centers, industrial properties, and construction projects.

Curt Myers Chairman and Chief Executive Officer
Curt Myers became Chairman and Chief Executive Officer of Fulton Financial Corporation on January 1, 2023. He joined Fulton Bank in 1990 as part of its management training program and held various leadership positions, including President and Chief Operating Officer of Fulton Financial since January 2018. Myers has also served as Chairman, Chief Executive Officer, Chief Operating Officer, and President of Fulton Bank, N.A. He is committed to the industry and local communities, serving on several business and community impact boards, including the Pennsylvania Chamber, the Lancaster Economic Development Company, and Operation HOPE.

Richard Kraemer Senior Executive Vice President and Chief Financial Officer
Richard Kraemer was appointed Senior Executive Vice President and Chief Financial Officer, effective in the fourth quarter of 2024, replacing interim CFO Betsy Chivinski. He joined Fulton on September 3, 2024, as CFO Designee. Kraemer brings more than 20 years of experience in the financial services industry. Most recently, he served as Chief Banking Officer overseeing commercial markets for another bank, and prior to that, he was Executive Vice President, Deputy Chief Financial Officer & Treasurer for a company with over $60 billion in assets.

Angela Snyder President
Angela Snyder was named President of Fulton and Fulton Bank, N.A., effective January 1, 2024, and will lead efforts to optimize costs and grow organically while overseeing all lines of business. She has more than 30 years of experience in the financial services industry, having joined Fulton in 2002 as President of Woodstown National Bank. She then served as Chairwoman, President, and CEO of Fulton Bank of New Jersey until its consolidation into Fulton Bank in 2019. Snyder is set to retire from Fulton Financial Corporation on December 31, 2025. She also founded the Women's Leadership Council of Gloucester and Salem Counties in 2008.

Meg R. Mueller Senior Executive Vice President and Chief Credit Executive
Meg R. Mueller serves as Senior Executive Vice President and Chief Credit Executive, leading the team responsible for credit fulfillment across all lines of business. She has a significant tenure with Fulton, previously serving as Head of Commercial Banking and Chief Credit Officer. She transitioned from Chief Credit Officer to Head of Commercial Banking in January 2018.

Natasha R. Luddington Senior Executive Vice President, Chief Legal Officer and Corporate Secretary
Natasha R. Luddington joined Fulton Financial Corporation's senior management team as a Senior Executive Vice President in October 2021 and was named Chief Legal Officer and Corporate Secretary effective December 31, 2021. Before joining Fulton, Ms. Luddington served as Senior Vice President, Associate General Counsel and Interim Counsel at Pacific Western Bank.

The key risks to Fulton Financial (FULT) primarily revolve around macroeconomic factors, credit quality, and competitive pressures within the banking sector.

1. Economic Uncertainty and Interest Rate Fluctuations: Fulton Financial's performance is highly susceptible to broader economic conditions and changes in interest rates. The current environment of elevated interest rates and the potential for economic downturns pose significant threats to the company's loan portfolio and the demand for its banking products and services. Rising interest expenses also impact profitability.
2. Credit Risk and Loan Portfolio Vulnerabilities: The company faces risks associated with its loan portfolio, particularly given its relatively high concentration in Commercial Real Estate (CRE) and construction loans, which represented approximately 45% of total loans. While Fulton Financial maintains granular exposure limits and low loan-to-value ratios to mitigate this, rising provisions for credit losses and an expected normalization of asset quality metrics indicate potential vulnerabilities.
3. Intense Competition: The banking industry is characterized by intense competition from numerous traditional banks, credit unions, and non-bank entities. This competitive landscape, including financial institutions without a physical presence in Fulton Financial's geographical markets, could impact market share and profitability.

Fulton Financial (symbol: FULT) primarily operates in the Mid-Atlantic region of the United States, offering a range of banking and financial services to consumers and businesses. While precise addressable market sizes specifically for Fulton Financial's operating region for each product are not consistently available, the following are estimated market sizes for their main products and services within the broader United States market:

• Retail Banking: The United States retail banking market is valued at approximately USD 0.87 trillion in 2025. This market is projected to reach USD 1.08 trillion by 2030, driven by steady loan demand, a resilient deposit base, and a consumer shift towards digital banking.
• Commercial Banking: The market size for commercial banking in the U.S. is estimated at USD 1.6 trillion in 2025. Another projection indicates the U.S. commercial banking market stands at USD 732.5 billion in 2025 and is forecasted to reach USD 915.45 billion by 2030. This market includes commercial real estate, commercial and industrial, and construction loans.
• Mortgage Services: The U.S. home loan market reached USD 2.29 trillion in 2025 and is forecasted to grow to USD 3.02 trillion by 2030. This market encompasses residential mortgage loans, including home equity loans and lines of credit. In the first half of 2025, Americans originated $884 billion in new mortgage debt. The U.S. purchase-mortgage market alone is valued at USD 1,145.4 billion.
• Investment Management and Planning Services (Wealth Management): The United States holds approximately 54.2% of global assets under management (AUM), with global AUM reaching $162 trillion in 2025, which translates to an estimated AUM of about $87.8 trillion in the US for 2025. Specifically for private banking, the U.S. private banking market is valued at USD 59.54 billion in 2025 and is expected to reach USD 94.89 billion by 2030.

• Net Interest Income Growth and Margin Management: The company anticipates continued net interest income growth, supported by strategic management of its net interest margin. While near-term margin pressure from potential interest rate cuts is expected, Fulton Financial aims for stabilization a few months after cuts conclude and expects support from the repricing of fixed-rate assets. Fulton also projects net interest income for 2025 to be in the range of $1.025 billion to $1.035 billion.
• Expansion of Fee-Based Income: Growth in non-interest income, particularly from wealth management and commercial banking, is a significant driver. Fulton Financial Advisors reached $17 billion in assets under management and administration in Q3 2025, highlighting the strong performance of its fee-generating businesses. The company's fee income range is projected at $270 million to $280 million for 2025.
• Organic Loan and Deposit Growth: Fulton Financial is focused on driving organic growth through new customer acquisition and a return to long-term historical loan growth trends. Deposit growth is also a key area of focus, with a strategy to balance long-term deposit growth with prudent interest cost management. In Q2 2025, the company saw a $150 million increase in net loans, reflecting a 2.5% annualized growth rate, particularly strong in residential construction and consumer lending.
• Market Expansion and Strategic Acquisitions: The acquisition of Republic First Bank in April 2024 significantly expanded Fulton Financial's presence in the Philadelphia market, almost doubling its footprint with combined company deposits of approximately $8.6 billion. This expansion provides opportunities for cross-selling wealth management and treasury services. The company continues to show strategic interest in acquiring community banks valued between $1 billion and $5 billion within its existing geographic footprint. Fulton's geographic dominance is also being enhanced by its increased branch network to 240 locations across five states.
• New Products and Services: The formation of a new Capital Markets team, announced in January 2025, is expected to enhance the bank's capabilities in managing syndications, derivatives, and capital markets referral programs. This initiative aims to expand credit capacity and deepen relationships with capital markets providers, providing expanded credit capacity and improved interest rate hedging solutions for customers.

Share Repurchases

• In February 2021, a share repurchase program of up to $75 million was authorized, which was extended by an additional $31.1 million in November 2021. As of December 31, 2021, Fulton Financial had repurchased $43.9 million worth of shares.
• A new share repurchase program of up to $75 million was approved in March 2022, valid from April 1 to December 31, 2022.
• Fulton Financial approved a new $125 million share repurchase program for 2025, which includes up to $25 million designated for preferred stock repurchases. During 2024, the company repurchased over 1.9 million shares, returning more than $150 million to common shareholders. In the third quarter of 2025, 1.65 million shares were repurchased for $30.8 million, with $85.6 million remaining under the 2025 program as of September 30, 2025.

Share Issuance

• In April 2024, Fulton Financial announced the pricing of a public offering of 16,666,667 shares of its common stock at $15 per share, totaling $250 million.
• The company granted underwriters a 30-day option to purchase up to an additional 2,500,000 shares of common stock at the public offering price.
• The net proceeds from this offering were intended for general corporate purposes, including supporting new opportunities following the acquisition of Republic First Bank.

Outbound Investments

• In January 2023, Fulton Bank, a subsidiary of Fulton Financial, invested $1 million in Innovate Capital Growth Fund, L.P., aimed at providing capital and operational expertise to minority- and women-owned businesses.
• In April 2024, Fulton Bank acquired substantially all assets and assumed substantially all deposits of Republic First Bank from the Federal Deposit Insurance Corporation (FDIC). The acquired assets were approximately $6 billion, including a $2.0 billion investment portfolio and $2.9 billion in loans, while assumed liabilities totaled approximately $5.3 billion, including $4 billion in deposits.
• This acquisition significantly bolstered Fulton Bank's growth in the Philadelphia market, nearly doubling its presence there.