Fulton Financial Corporation (FULT) Income Statement

30Y historyFree accessUpdated daily

Net interest income expanded 9.8% year over year to $290.0M in 2026Q3 while the net interest margin held near 0.8%, though this stable headline figure may conceal funding cost pressure that warrants further investigation.

Annual statement

FULT Income Statement

Fulton Financial Corporation (FULT) annual income statement — 30-year revenue, gross profit & net income history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08	Dec'07	Dec'06	Dec'05	Dec'04	Dec'03	Dec'02	Dec'01	Dec'00	Dec'99	Dec'98	Dec'97	Dec'96

Net Interest Income	1.1B	1.04B	960.33M	854.29M	781.63M	663.73M	629.21M	648.39M	630.46M	575M	520.2M	499.01M	513.53M	525.78M	543.05M	558.88M	555.95M	518.48M	518.42M	480.52M	479M	407.75M	353.63M	304.44M	311.07M	290.72M	275.79M	266.17M	231.5M	219.1M	202.2M
NII Growth %	30.48%	7.92%	12.41%	9.29%	17.76%	5.49%	-2.96%	2.84%	9.65%	10.53%	4.25%	-2.83%	-2.33%	-3.18%	-2.83%	0.53%	7.23%	0.01%	7.89%	0.32%	17.47%	15.31%	16.16%	-2.13%	7%	5.41%	3.61%	14.98%	5.66%	8.36%	28.79%
Net Interest Margin %	3.17%	3.23%	2.99%	3.1%	2.9%	2.57%	2.43%	2.96%	3.05%	2.87%	2.75%	2.79%	3%	3.1%	3.29%	3.41%	3.42%	3.12%	3.2%	3.02%	3.21%	3.29%	3.17%	3.12%	3.71%	3.74%	3.74%	4.39%	3.96%	4.07%	4.92%
Interest Income	1.66B	1.62B	1.58B	1.27B	864.84M	723.41M	742.88M	825.31M	758.51M	668.87M	603.1M	583.79M	596.08M	609.69M	647.5M	693.7M	745.37M	786.47M	867.49M	931.35M	857.94M	620.97M	493.64M	435.53M	469.29M	518.18M	519.66M	465.3M	409.3M	387.3M	353.6M
Interest Expense	560.18M	580.53M	621.87M	418.95M	83.2M	59.68M	113.67M	176.92M	128.06M	93.5M	82.33M	83.8M	81.21M	82.5M	103.17M	133.54M	186.63M	265.51M	343.35M	450.83M	378.94M	213.22M	135.99M	131.09M	158.22M	227.96M	243.87M	199.13M	177.8M	168.2M	151.4M
Loan Loss Provision	26.35M	35.7M	48.19M	54.04M	20.07M	-14.6M	76.92M	32.83M	46.91M	23.3M	13.18M	2.25M	12.5M	40.5M	94M	135M	160M	190.02M	119.63M	15.06M	3.5M	3.12M	4.72M	9.71M	11.9M	14.59M	15.02M	9.94M	5.6M	8.4M	6M
Non-Interest Income	289.46M	274.4M	218.47M	227.68M	227.13M	273.75M	229.39M	216.16M	195.53M	202.88M	190.18M	181.84M	167.38M	187.66M	216.41M	187.49M	182.32M	173.94M	113.9M	154.15M	156.44M	149.09M	138.86M	136.99M	115.78M	103.25M	76.98M	66.67M	58.29M	48.7M	41.7M
Non-Interest Income %	20.8%	20.93%	18.53%	21.04%	22.52%	29.2%	26.72%	25%	23.67%	26.08%	26.77%	26.71%	24.58%	26.3%	28.5%	25.12%	24.7%	25.12%	18.01%	24.29%	24.62%	26.77%	28.2%	31.03%	27.12%	26.21%	21.82%	20.03%	20.12%	18.19%	17.1%
Total Net Revenue	1.39B	1.31B	1.18B	1.08B	1.01B	937.48M	858.6M	864.55M	825.98M	777.87M	710.38M	680.85M	680.91M	713.45M	759.47M	746.37M	738.27M	692.41M	632.32M	634.67M	635.44M	556.85M	492.49M	441.42M	426.85M	393.96M	352.77M	332.84M	289.79M	267.8M	243.9M
Revenue Growth %	7.02%	11.19%	8.95%	7.26%	7.6%	9.19%	-0.69%	4.67%	6.19%	9.5%	4.34%	-0.01%	-4.56%	-6.06%	1.75%	1.1%	6.62%	9.5%	-0.37%	-0.12%	14.11%	13.07%	11.57%	3.41%	8.35%	11.68%	5.99%	14.85%	8.21%	9.8%	29.25%
Non-Interest Expense	855.86M	789.47M	785.97M	679.21M	641.68M	617.83M	579.44M	567.74M	546.1M	520.48M	489.52M	480.16M	459.25M	461.43M	449.29M	416.24M	408.32M	415.54M	499.47M	403.36M	365.99M	316.29M	277.51M	234.18M	225.54M	218.92M	186.47M	175.77M	155.85M	149.6M	144.2M
Efficiency Ratio	61.49%	60.23%	66.68%	62.78%	63.61%	65.9%	67.49%	65.67%	66.12%	66.91%	68.91%	70.52%	67.45%	64.68%	59.16%	55.77%	55.31%	60.01%	78.99%	63.55%	57.6%	56.8%	56.35%	53.05%	52.84%	55.57%	52.86%	52.81%	53.78%	55.86%	59.12%
Operating Income	509.61M	485.59M	344.63M	348.72M	347.01M	334.25M	202.24M	263.99M	232.97M	234.45M	208.25M	199.42M	210.5M	212.93M	217.45M	196.41M	172.74M	89.33M	18.95M	216.25M	265.95M	237.44M	214.28M	197.54M	189.42M	159.96M	151.27M	147.13M	128.34M	109.8M	93.7M
Operating Margin %	36.61%	37.05%	29.24%	32.23%	34.4%	35.65%	23.55%	30.53%	28.21%	30.14%	29.32%	29.29%	30.91%	29.84%	28.63%	26.32%	23.4%	12.9%	3%	34.07%	41.85%	42.64%	43.51%	44.75%	44.38%	40.6%	42.88%	44.2%	44.29%	41%	38.42%
Operating Income Growth %	-	40.9%	-1.17%	0.49%	3.82%	65.28%	-23.39%	13.31%	-0.63%	12.58%	4.43%	-5.26%	-1.14%	-2.08%	10.71%	13.7%	93.37%	371.33%	-91.24%	-18.69%	12.01%	10.81%	8.47%	4.29%	18.42%	5.74%	2.82%	14.64%	16.89%	17.18%	30.5%
Pretax Income	509.61M	485.59M	344.63M	348.72M	347.01M	334.25M	202.24M	263.99M	232.97M	234.45M	208.25M	199.42M	210.5M	212.93M	217.45M	196.41M	172.74M	89.33M	18.95M	216.25M	265.95M	237.44M	214.28M	197.54M	189.42M	159.96M	151.27M	147.13M	128.34M	109.8M	93.7M
Pretax Margin %	36.61%	37.05%	29.24%	32.23%	34.4%	35.65%	23.55%	30.53%	28.21%	30.14%	29.32%	29.29%	30.91%	29.84%	28.63%	26.32%	23.4%	12.9%	3%	34.07%	41.85%	42.64%	43.51%	44.75%	44.38%	40.6%	42.88%	44.2%	44.29%	41%	38.42%
Income Tax	96.81M	93.98M	55.89M	64.44M	60.03M	58.75M	24.2M	37.65M	24.58M	62.7M	46.62M	49.92M	52.61M	51.09M	57.6M	50.84M	44.41M	15.41M	24.57M	63.53M	80.42M	71.36M	65.26M	59.36M	56.47M	46.37M	44.24M	42.5M	39.83M	33.4M	27.8M
Effective Tax Rate %	19%	19.35%	16.22%	18.48%	17.3%	17.58%	11.96%	14.26%	10.55%	26.74%	22.39%	25.03%	24.99%	23.99%	26.49%	25.88%	25.71%	17.25%	129.64%	29.38%	30.24%	30.05%	30.46%	30.05%	29.81%	28.99%	29.25%	28.89%	31.04%	30.42%	29.67%
Net Income	412.8M	391.61M	288.74M	284.28M	286.98M	275.5M	178.04M	226.34M	208.39M	171.75M	161.63M	149.5M	157.89M	161.84M	159.84M	145.57M	128.33M	73.92M	-5.62M	152.72M	185.53M	166.07M	149.61M	138.18M	132.95M	113.59M	106.83M	104.63M	88.51M	76.4M	65.9M
Net Margin %	29.66%	29.88%	24.49%	26.27%	28.45%	29.39%	20.74%	26.18%	25.23%	22.08%	22.75%	21.96%	23.19%	22.68%	21.05%	19.5%	17.38%	10.68%	-0.89%	24.06%	29.2%	29.82%	30.38%	31.3%	31.15%	28.83%	30.28%	31.43%	30.54%	28.53%	27.02%
Net Income Growth %	14.27%	35.63%	1.57%	-0.94%	4.17%	54.74%	-21.34%	8.61%	21.33%	6.27%	8.11%	-5.32%	-2.44%	1.25%	9.8%	13.43%	73.6%	1416.08%	-103.68%	-17.68%	11.71%	11.01%	8.27%	3.94%	17.04%	6.32%	2.11%	18.21%	15.85%	15.93%	27.71%
Net Income (Continuing)	412.8M	391.61M	288.74M	284.28M	286.98M	275.5M	178.04M	226.34M	208.39M	171.75M	161.63M	149.5M	157.89M	161.84M	159.84M	145.57M	128.33M	73.92M	-5.62M	152.72M	185.53M	166.07M	149.61M	138.18M	132.95M	113.59M	106.83M	104.63M	88.51M	76.4M	65.9M
EPS (Diluted)	2.15	2.08	1.57	1.64	1.67	1.62	1.08	1.39	1.18	0.98	0.93	0.85	0.84	0.83	0.80	0.73	0.59	0.31	-0.03	0.88	1.06	1.00	0.94	0.93	0.89	0.74	0.72	0.70	0.64	0.55	0.47
EPS Growth %	12.57%	32.48%	-4.27%	-1.8%	3.09%	50%	-22.3%	17.8%	20.41%	5.38%	9.41%	1.19%	1.2%	3.75%	9.59%	23.73%	90.32%	1133.33%	-103.41%	-16.98%	6%	6.38%	1.08%	4.49%	20.27%	2.78%	2.86%	9.38%	16.36%	17.02%	0%
EPS (Basic)	-	2.10	1.59	1.66	1.69	1.63	1.08	1.39	1.19	0.98	0.93	0.85	0.85	0.84	0.80	0.73	0.59	0.31	-0.03	0.88	1.07	1.01	0.95	0.94	0.90	0.75	0.73	0.70	0.64	0.56	0.48
Diluted Shares Outstanding	192.23M	183.29M	177.22M	166.77M	165.47M	163.31M	163.09M	167.79M	176.54M	175.93M	174.42M	176.77M	187.18M	194.35M	200.04M	199.66M	191.4M	175.94M	174.24M	174.39M	174.87M	166.26M	158.45M	148.77M	149.13M	152.91M	147.51M	150.2M	139.22M	112.14M	102M

Key Metrics

Growth RegimeExpanding

ProfitabilityModerate

Balance SheetAdequate

Cash FlowStable

Top Statement Risk

Deposit repricing and CRE credit

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q3)

Net Interest Income Rebounding Through Integration

Based on FULT's reported figures, quarterly net interest income rose from $241.7M in 2024Q2 to $290.0M in 2026Q3, with the latest quarter up 9.8% year over year, suggesting the expanded balance sheet is being monetized.

The climb in NII implies that loan volume gained from the Republic First and Blue Foundry transactions is outweighing deposit cost pressure for now. Because the reported figures do not separate volume from rate effects, the durability of this growth cannot be cleanly attributed to balance sheet expansion versus repricing. Investors should monitor deposit betas in coming quarters to judge whether NII growth persists once the rate cycle stabilizes.

Flat Margin Masks Funding Cost Pressure

The reported net interest margin has held near 0.8% across the ten quarters shown, a stable headline figure that may conceal shifting asset yields and funding costs beneath the surface of FULT's spread.

A flat headline margin alongside rising NII suggests earning assets have grown enough to offset any compression in spread. The data provided does not disclose asset yields or cost of funds, so the direction of spread movement cannot be confirmed from these figures. This warrants further investigation through the full net interest margin composition in the filings.

Efficiency Ratio Recovering Toward Mid-Range

FULT's efficiency ratio improved from 71.8% in 2024Q3 to 59.5% in 2026Q3, a material operating leverage gain that may reflect cost absorption from acquisitions and tighter expense control.

The compression in the efficiency ratio implies revenue growth has outpaced non-interest expense, consistent with integration synergies being realized. The ratio remains above 59% in several recent quarters, which leaves less room for error if revenue slows. Investors should monitor whether expense discipline holds as the institution absorbs additional branches and systems.

Provisioning Volatility Tied to Acquisition Timing

Provision expense swung from $16.7M in 2024Q4 to $2.9M in 2025Q4 and back to $14.4M in 2026Q1, based on FULT's reported quarterly figures, indicating credit cost lumpiness that may track acquisition accounting and CECL forecasts.

The irregular provision pattern is consistent with CECL-driven reserve builds and releases rather than a clean credit trend, which makes single-quarter earnings comparisons unreliable. The 2026Q1 spike coincides with integration activity, which may reflect day-one or related reserve adjustments, though the filings would be needed to confirm. Investors should monitor non-performing asset trends to distinguish genuine credit deterioration from accounting-driven swings.

Earnings Quality Depends on Lumpy Items

Quarterly EPS of $0.33 in 2024Q3 versus $0.59 in 2026Q3 reflects large swings that may be driven by non-recurring items, given non-interest income fell to $24.8M in 2024Q2 before recovering to $77.2M.

The sharp non-interest income gap in 2024Q2 suggests one-time or reclassified items distorted reported earnings in that period, and the stated TTM net margin of 29.9% should be read with that in mind. The data does not identify the specific drivers, so the underlying recurring earnings base remains uncertain. Analysts should challenge the normalized earnings power before extrapolating the recent EPS run-rate.

FULT — Frequently Asked Questions

Quick answers to the most common questions about buying FULT stock.

What was Fulton Financial Corporation's (FULT) revenue in 2025?

For fiscal year 2025, Fulton Financial Corporation (FULT) reported total revenue of $1.31B. This represents a 437.4% increase compared to $243.9M in 1996.

Is Fulton Financial Corporation (FULT) profitable?

Fulton Financial Corporation (FULT) is profitable, generating $391.6M in net income for the fiscal year ending 2025 with a net profit margin of 29.9%.

What is Fulton Financial Corporation's operating profit margin?

Fulton Financial Corporation (FULT) reported an operating income of $485.6M, resulting in an operating profit margin of 37.0%. This margin reflects the operational efficiency of the business before interest and taxes.

What is Fulton Financial Corporation's gross profit and gross margin?

Fulton Financial Corporation (FULT) generated $1.28B in gross profit for the year, representing a gross profit margin of 97.3%. This demonstrates the company's core pricing power and production efficiency.