Fulton Financial Corporation announced its 2024 fourth-quarter and full-year financial results, reporting net income available to common shareholders of $66.1 million, or $0.36 per diluted share, for the fourth quarter, an increase of $5.4 million compared to the third quarter. Operating net income for the quarter was $88.9 million, or $0.48 per diluted share, reflecting a $2.4 million decrease from the prior quarter. For the full year, net income reached $278.5 million, or $1.57 per diluted share, while operating net income totaled $328.1 million, or $1.85 per diluted share, representing an 8 percent increase in operating earnings per share compared to 2023.

The company noted a strong net interest margin of 3.41 percent for the fourth quarter, supported by lower funding costs. Non-interest expenses declined by $9.5 million compared to the third quarter, driven by reduced employee severance costs and acquisition-related savings. However, FultonFirst implementation and financial center consolidation costs added $10 million to expenses. While total loans and deposits saw slight decreases during the quarter, the company maintained stable asset quality with a provision for credit losses at $16.7 million and non-performing assets at 0.69 percent of total assets.

CEO Curtis J. Myers emphasized the company’s strategic and operational progress, citing record performance and an optimistic outlook for 2025. Fulton Financial's efficiency ratio improved to 58.4 percent, reflecting ongoing efforts to enhance profitability through cost management and operational adjustments, including gains from consolidating financial centers. The report highlights a strong foundation for continued success amid strategic investments and careful management of expenses.