Fulton Financial Corporation (FULT) Financial Statements (2024 and earlier)

Company Profile

Business Address ONE PENN SQ
LANCASTER, PA 17604
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments681,9211,638,6141,847,832517,791445,687402,096
Cash and cash equivalents681,9211,638,6141,847,832517,791445,687402,096
Total current assets:681,9211,638,6141,847,832517,791445,687402,096
Noncurrent Assets
Operating lease, right-of-use asset 85,10382,43184,227102,779
Property, plant and equipment225,141220,357231,480240,046234,529222,802
Intangible assets, net (including goodwill), including:560,824538,053536,659535,303531,556531,556
Goodwill550,539534,300    
Intangible assets, net (excluding goodwill) 6,9743,800    
Other undisclosed intangible assets, net (including goodwill)3,311(47)536,659535,303531,556531,556
Amortization method qualified affordable housing project investments 161,103161,052152,203153,351170 
Total noncurrent assets:1,032,1711,001,8931,004,5691,031,479766,255754,358
Other undisclosed assets25,217,61023,155,89123,054,33220,336,77019,470,21018,880,451
TOTAL ASSETS:26,931,70225,796,39825,906,73321,886,04020,682,15220,036,905
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 416,764630,066883,241754,777617,524
Total current liabilities: 416,764630,066883,241754,777617,524
Noncurrent Liabilities
Liabilities, other than long-term debt 53,10849,36431,56216,68423 
Qualified affordable housing project investments, commitment 53,10849,36431,56216,68423 
Total noncurrent liabilities: 53,10849,36431,56216,68423 
Other undisclosed liabilities24,298,83722,617,59022,628,27718,643,93917,679,77917,189,524
Total liabilities:24,351,94523,083,71823,289,90519,543,86418,434,57917,807,048
Equity
Equity, attributable to parent2,579,7572,712,6802,616,8282,342,1762,247,5732,229,857
Preferred stock192,878192,878192,878   
Common stock561,511559,766557,917556,110554,377552,232
Treasury stock, value(781,754)(869,631)(827,956)(792,869)(683,476)(589,409)
Additional paid in capital1,541,8401,519,8731,508,1171,499,6811,489,7031,478,389
Accumulated other comprehensive income (loss)(385,476)27,41165,091(137)(59,063)(32,974)
Retained earnings1,450,7581,282,3831,120,7811,079,391946,032821,619
Total equity:2,579,7572,712,6802,616,8282,342,1762,247,5732,229,857
TOTAL LIABILITIES AND EQUITY:26,931,70225,796,39825,906,73321,886,04020,682,15220,036,905

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues766,723723,412742,878823,955757,355821,104
Net investment income766,723723,412742,878823,955757,355667,990
Financial services revenue153,114
Cost of revenue  (76,920)(32,825)(46,907)(23,305)
Provision for loan, lease, and other losses  (76,920)(32,825)(46,907)
Financial services costs(23,305)
Other undisclosed gross profit      
Gross profit:766,723723,412665,958791,130710,448797,799
Operating expenses(157,899)(143,954)(126,534)(110,639)(116,715)(409,346)
Other operating income, net
(Noninterest Income, Other Operating Income)
      25,861
Operating income:608,824579,458539,424680,491593,733414,314
Interest and debt expense(83,204)(92,931)(113,671)(176,917)(128,058)(93,502)
Other undisclosed loss from continuing operations before equity method investments, income taxes   (223,518)(239,586)(232,705)(86,358)
Income from continuing operations before equity method investments, income taxes:525,620486,527202,235263,988232,970234,454
Other undisclosed loss from continuing operations before income taxes(178,605)(152,282)  (24,577)(62,701)
Income from continuing operations before income taxes:347,015334,245202,235263,988208,393171,753
Income tax expense(60,034)(58,748)(24,194)(37,649)  
Income from continuing operations:286,981275,497178,041226,339208,393171,753
Income before gain (loss) on sale of properties:275,497178,041226,339208,393171,753
Net income:286,981275,497178,041226,339208,393171,753
Other undisclosed net loss attributable to parent   (1)   
Net income attributable to parent:286,981275,497178,040226,339208,393171,753
Preferred stock dividends and other adjustments(10,248)(10,277)(2,135)   
Net income available to common stockholders, diluted:276,733265,220175,905226,339208,393171,753

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:286,981275,497178,041226,339208,393171,753
Other comprehensive income (loss)(412,887)(37,680)65,22858,926(18,988)5,475
Comprehensive income (loss):(125,906)237,817243,269285,265189,405177,228
Other undisclosed comprehensive loss, net of tax, attributable to parent   (1)   
Comprehensive income (loss), net of tax, attributable to parent:(125,906)237,817243,268285,265189,405177,228

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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