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FULT-News
FULT-Events
Blue Foundry Bancorp Outlook: Credit Loss Provision $30M-$40M
This outlook reflects low, single-digit organic loan growth plus Blue Foundry Bancorp transaction. Sees FY provision for credit losses $30M-$40M, non-interest income $295M-$305M, operating non-interest expense $820M-$830M, and an effective tax rate of 18.5%-19.5%. Comments taken from investor presentation slides.
Fulton Reports Record Quarterly Results with Solid Customer Growth
"During the quarter, we achieved record financial results while successfully completing the Blue Foundry Bank integration and delivering solid growth in the customer base and customer funding," said Curtis Myers, Fulton Chairman, CEO and President. "Our ongoing strong performance reflects robust demand for our community banking model and the steadfast dedication of our team members to deliver a personalized experience. The sustained commitment to executing our strategic priorities is generating long-term value for our shareholders."
Blue Foundry Sees FY26 Credit Loss Provision of $40M-$60M
Sees FY26 provision for credit losses $40M-$60M. Sees FY26 non-interest income $290M-$300M, with non-interest expense $810M-$830M. Sees FY26 effective tax rate 18.5%-19.5%. Says Blue Foundry targeted cost-save run-rate expected to be achieved by Q4. Comments taken from investor presentation slides.
Q2 Revenue Reaches $367.9M, Exceeds Expectations
Reports Q2 revenue $367.9M, consensus $359.16M. Q2 net interest margin was 3.60%, a two basis point increase from the prior quarter. Common equity tier 1 capital ratio increased to approximately 12.1% vs. 11.9% in the prior quarter. "During the quarter, we achieved record financial results and successfully completed the acquisition of Blue Foundry Bancorp," said Curtis Myers, CEO. "With the successful integration of Blue Foundry Bank already occurring earlier this month, we are well positioned to deepen existing relationships and drive growth in this expanded footprint. Our ongoing strong performance is due to high demand for our community banking approach and the commitment of our dedicated team members to making banking personal. Our sustained focus on executing our strategic priorities is creating long-term value for our shareholders."
Fulton Financial Announces Merger of Blue Foundry Bank
Fulton Financial announced the merger of Blue Foundry Bank with and into Fulton Bank, N.A., effective July 11, and the subsequent conversion of Blue Foundry Bank's systems onto Fulton Bank's banking platforms.
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