Fulton Financial Corporation (NASDAQ: FULT) has announced its second-quarter results for 2025, with net income available to common shareholders reaching $96.6 million, or $0.53 per diluted share. This represents an increase of $6.2 million, or $0.04 per diluted share, compared to the first quarter of 2025. Operating net income available to common shareholders for the same period was $100.6 million, or $0.55 per diluted share, marking a $5.2 million increase from the first quarter.
For the six months ending June 30, 2025, net income available to common shareholders was $187.1 million, or $1.02 per diluted share, reflecting a $35.3 million increase from the previous year. Meanwhile, operating net income available to common shareholders for the same period was $196.1 million, or $1.07 per diluted share, showing a significant increase of $48.2 million from the six months ended June 30, 2024.
The second quarter of 2025 saw a solid net interest margin of 3.47%, along with a $3.7 million increase in net interest income, which totaled $254.9 million. Additionally, non-interest income rose by $1.9 million to reach $69.1 million, while non-interest expense increased by $3.4 million to $192.8 million. The 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.
Regarding the balance sheet, net loans totaled $24.0 billion, reflecting a $150.0 million increase from the previous quarter, driven by growth in both consumer and commercial loans. Deposits, on the other hand, decreased by $190.9 million to reach $26.1 billion as of June 30, 2025.
In terms of asset quality, non-performing assets increased to $215.6 million, or 0.67% of total assets, as of June 30, 2025, compared to $199.0 million, or 0.62% of total assets, as of March 31, 2025. However, annualized net charge-offs for the second quarter of 2025 decreased to 0.20% of total average loans, down from 0.21% in the prior quarter.
Chairman and CEO Curt Myers expressed pride in the company's achievements, highlighting the record operating net income of $100.6 million for the quarter and emphasizing the strength of their community banking strategy in delivering significant value to customers and robust bottom-line results for the company. Following these announcements, the company's shares moved -0.76%, and are now trading at a price of $18.875. For more information, read the company's full 8-K submission here.
