Apr. 16 at 12:05 PM
$FULT
Fulton Financial reported strong Q1 2025 results with net income of
$90.4 million, or
$0.49 per diluted share, marking a
$24.4 million increase from Q4 2024.
Operating net income reached
$95.5 million, or
$0.52 per diluted share.
Key highlights include a solid net interest margin of 3.43%, with total cost of funds decreasing by 12 basis points.
Non-interest expense decreased by
$27.2 million to
$189.5 million. Customer deposits grew by
$304.9 million (4.9% annualized), excluding brokered deposits.
The common equity tier 1 capital ratio improved to 11.0%.
Asset quality metrics showed improvement with non-performing assets decreasing to 0.62% of total assets, down from 0.69% in Q4 2024.
The allowance for credit losses stood at
$379.7 million, representing 1.59% of total net loans, while net charge-offs were 0.21% of total average loans.
