8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

October 19, 2021

Date of Report (date of earliest event reported)

Fulton Financial Corporation

(Exact name of registrant as specified in its charter)

PA	0-39680		23-2195389
(State or other jurisdiction of incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)
One Penn Square,	Lancaster,	PA	17602
(Address of Principal Executive Offices)			(Zip Code)

(717) 291-2411

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $2.50	FULT	The Nasdaq Stock Market, LLC
Depositary Shares, Each Representing 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A	FULTP	The Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

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Item 2.02 Results of Operations and Financial Condition.

    On October 19, 2021, Fulton Financial Corporation (the "Corporation") issued a press release (the "Press Release") announcing its results of operations for the third quarter ended September 30, 2021. A copy of the Press Release and supplementary financial information which accompanied the Press Release, are attached as Exhibit 99.1 to this Current Report and are incorporated herein by reference. The Corporation also posted on its Investor Relations website, www.fult.com, presentation materials the Corporation intends to use during a conference call and webcast to discuss those results on Wednesday, October 20, 2021 at 10:00 a.m. Eastern Time. A copy of the presentation materials is attached as Exhibit 99.2 to this Current Report and is incorporated herein by reference.    

The information in the preceding paragraph, as well as Exhibit 99.2 referenced therein, shall not be deemed "filed" for purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"). The information included in Exhibit 99.1 shall be considered "filed" for purposes of the Exchange Act and therefore may be incorporated by reference in filings under the Securities Act.

Forward-Looking Statements

This Current Report on Form 8-K, including the Exhibits hereto, may contain forward-looking statements with respect to the Corporation’s financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation’s future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation’s business or financial results. Management’s "2021 Outlook" contained in Exhibit 99.2 to this Current Report is comprised of forward-looking statements.

Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, they are based on current beliefs, expectations and assumptions regarding the future of the Corporation’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation’s control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30,2021 and other current and periodic reports, which have been or will be filed with the Securities and Exchange Commission and are or will be available in the Investor Relations section of the Corporation's website (www.fult.com) and on the Securities and Exchange Commission's website (www.sec.gov).

Item 9.01 Financial Statements and Exhibits.

(d)    Exhibits.

Exhibit No.	Description
99.1	Press release dated October 19, 2021 containing financial information for the quarter ended September 30, 2021, deemed "filed" under the Securities Exchange Act of 1934.
99.2	Presentation materials to be discussed during the conference call and webcast on October 20, 2021, deemed "furnished" under the Securities Exchange Act of 1934.
104	Cover page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 19, 2021	FULTON FINANCIAL CORPORATION
	By: /s/ Mark R. McCollom
	Mark R. McCollom
	Senior Executive Vice President and
	Chief Financial Officer

EX-99.1

Exhibit 99.1

FULTON FINANCIAL

CORPORATION

FOR IMMEDIATE RELEASE

Media Contact: Laura Wakeley (717) 291-2616

Investor Contact: Matt Jozwiak (717) 327-2657

Fulton Financial Announces Third Quarter 2021 Results

(October 19, 2021) – Lancaster, PA – Fulton Financial Corporation (NASDAQ:FULT) (“Fulton” or the “Corporation”) reported net income available to common shareholders of $73 million, or $0.45 per diluted share, for the third quarter of 2021.

“Fulton achieved strong financial performance during the quarter, including continued record earnings per share,” said E. Philip Wenger, Chairman and CEO of Fulton Financial Corporation. “We were pleased to see areas of loan growth that we haven’t seen in previous quarters. Our core commercial and consumer businesses were solid, asset quality remained stable, and our pipelines are improving. In addition, mortgage banking delivered strong earnings and wealth management grew to record highs in income and assets under management and administration.”

Net Interest Income and Balance Sheet

Net interest income for the third quarter of 2021 was $171 million, $9 million higher than the second quarter of 2021. Net interest margin for the third quarter of 2021 increased 9 basis points, to 2.82%, from 2.73% in the second quarter of 2021. The increases in net interest income and net interest margin in comparison to the second quarter of 2021, were primarily due to higher fee income recognized related to the Paycheck Protection Program ("PPP") loans, which was $18 million in the third quarter of 2021 compared to $12 million for the second quarter of 2021, as well as lower rates on deposits and solid earning asset growth.

Total average interest-earning assets for the third quarter of 2021 were $25 billion, an increase of $291 million from the second quarter of 2021, driven by growth in the residential mortgage loan portfolio, investment securities and other interest-earning assets, partially offset by a decline in PPP loans. Average Net Loans(1), which include loans originated under the PPP, were $18.4 billion, a decrease of $492 million compared to the second quarter of 2021. Average PPP loans were $0.9 billion for the third quarter of 2021 compared to $1.5 billion for the second quarter of 2021. Third quarter loan balances were impacted by $526 million of PPP loans forgiven in the third quarter of 2021.

Average loans and yields, by type, for the third quarter of 2021 in comparison to the second quarter of 2021 are summarized in the following table:

(1)Loans and lease receivables, (net of unearned income)

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	Three months ended
	September 30, 2021				June 30, 2021				Growth
	Balance		Yield (1)		Balance		Yield (1)		$		%
	(dollars in thousands)
Average Net Loans by type:
Real estate - commercial mortgage	$	7,134,177	3.11	%	$	7,177,622	3.16	%	$	(43,445)	(0.6)	%
Commercial and industrial(2)	4,729,385		2.79	%	5,445,160		2.58	%	(715,775)		(13.1)	%
Real estate - residential mortgage	3,642,822		3.39	%	3,396,690		3.39	%	246,132		7.2	%
Real estate - home equity	1,128,076		3.68	%	1,139,558		3.71	%	(11,482)		(1.0)	%
Real estate - construction	1,085,846		3.13	%	1,054,469		3.05	%	31,377		3.0	%
Consumer	452,844		4.00	%	451,486		3.89	%	1,358		0.3	%
Equipment lease financing	247,776		3.88	%	256,248		3.74	%	(8,472)		(3.3)	%
Other(3)	(6,773)		N/A		(14,677)		N/A		7,904		53.9	%
Total Average Net Loans	$	18,414,153	3.53	%	$	18,906,556	3.32	%	$	(492,403)	(2.6)	%
(1) Presented on a fully-taxable equivalent basis using a 21% Federal tax rate and statutory interest expense disallowances.
(2) Includes average PPP loans of $0.9 billion and $1.5 billion for the three months ended September 30, 2021 and June 30, 2021, respectively.
(3) Consists of overdrafts and net origination fees and costs.

Total average liabilities increased $370 million, to $23.7 billion, in the third quarter of 2021 compared to the second quarter of 2021 driven by increases in average deposits, partially offset by a decrease in short-term borrowings. Average deposits and interest rates, by type, for the third quarter of 2021 in comparison to the second quarter of 2021 are summarized in the following table:

	Three months ended
	September 30, 2021				June 30, 2021				Growth
	Balance		Rate		Balance		Rate		$		%
	(dollars in thousands)
Average Deposits, by type:
Noninterest-bearing demand	$	7,439,644	—		$	7,203,696	—		$	235,948	3.3	%
Interest-bearing demand	6,168,908		0.05	%	5,979,855		0.06	%	189,053		3.2	%
Savings	6,392,537		0.07	%	6,280,629		0.09	%	111,908		1.8	%
Total average demand and savings	20,001,089		0.04	%	19,464,180		0.05	%	536,909		2.8	%
Brokered	270,168		0.34	%	297,815		0.34	%	(27,647)		(9.3)	%
Time	1,852,223		0.95	%	2,003,606		1.09	%	(151,383)		(7.6)	%
Total Average Deposits	$	22,123,480	0.12	%	$	21,765,601	0.15	%	$	357,879	1.6	%

Asset Quality

In the third quarter of 2021, a negative provision for credit losses of $600 thousand was recognized, as compared to a negative provision for credit losses of $3.5 million recognized in the second quarter of 2021. A $7.1 million provision for credit losses was recognized in the third quarter of 2020. The negative provision for credit losses for the third quarter of 2021 was impacted by a decrease in the allowance for credit losses determined to be necessary as of the end of the third quarter of 2021, due to

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improvements in the economic conditions, partially offset by an increase in specific allocations within the allowance for credit losses for loans evaluated individually.

The $7.1 million provision for credit losses in the third quarter of 2020 reflected expected credit losses based on economic conditions as of the end of the third quarter of 2020, and the assessment of the estimated impacts of the COVID-19 pandemic at that time.

Non-performing assets were $152 million, or 0.58% of total assets, at September 30, 2021, compared to $157 million, or 0.60% of total assets, and $147 million, or 0.57% of total assets, at June 30, 2021 and September 30, 2020, respectively.

Annualized net charge-offs (recoveries) for the quarter ended September 30, 2021,were (0.05)% of total average loans, compared to 0.15% and (0.05)% for the quarters ended June 30, 2021 and September 30, 2020, respectively.

Non-interest Income

Non-interest income in the third quarter of 2021, excluding investment securities gains, was $63 million, an increase of $11 million, or 21%, from the second quarter of 2021, primarily resulting from increases of $6.7 million in mortgage banking income, $2.6 million in other income, and $0.9 million inwealth management income. The increase in mortgage banking income was primarily due to a $3.5 million decrease to the valuation allowance for mortgage servicing rights in the third quarter of 2021, compared to an increase of $2.2 million to the valuation allowance in the second quarter of 2021. The increase in other income was primarily due to $2.1 million of income from equity method investments.

Compared to the third quarter of 2020, non-interest income, excluding investment securities gains, in the third quarter of 2021, decreased $0.7 million, or 1%, from $63 million, primarily resulting from a $7.3 million decrease in mortgage banking income primarily due to lower loan sales, and a $2.6 million decrease in capital markets income. These decreases were partially offset by a $3.6 million increase in wealth management income and a $1.4 million increase in consumer banking income.

Non-interest Expense

Non-interest expense was $145 million in the third quarter of 2021, an increase of $3.8 million, or 3%, compared to the second quarter of 2021. The increase is due to an increase of $4.3 million in salaries and benefits during the third quarter of 2021, as compared to the second quarter of 2021.

Compared to the third quarter of 2020, non-interest expense increased $5.5 million, or 4%, in the third quarter of 2021, due to an increase of $3.5 million in salaries and employee benefits and $2.1 million in data processing and software.

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Income Tax Expense

The effective income tax rate was 16% for both the third and second quarters of 2021 as compared to 13% for third quarter of 2020. The increase was a result of higher income before income taxes, while net favorable permanent differences were relatively the same compared to the third quarter of 2020.

Additional information on Fulton is available on the Internet at www.fult.com.

Safe Harbor Statement

This news release may contain forward-looking statements with respect to the

Corporation’s financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," “projects,” the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation’s future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation’s business or financial results.

Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, they are based on current beliefs, expectations and assumptions regarding the future of the Corporation’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation’s control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021 and other current and periodic reports, which have been or will be filed with the Securities and Exchange Commission and are or will be available in the Investor Relations section of the Corporation's website (www.fult.com) and on the Securities and Exchange Commission's website (www.sec.gov).

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Non-GAAP Financial Measures

The Corporation uses certain non-GAAP financial measures in this earnings release. These non-GAAP financial measures are reconciled to the most comparable GAAP measures in tables at the end of this release.

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FULTON FINANCIAL CORPORATION
SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
in thousands, except per-share data and percentages
	Three months ended
	Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
	2021		2021		2021		2020		2020
Ending Balances
Investments	$	4,000,760	$	3,921,658	$	3,612,010	$	3,340,424	$	3,097,721
Net Loans	18,269,407		18,586,756		18,990,986		18,900,820		19,028,621
Total assets	26,390,832		26,079,774		25,892,990		25,906,733		25,543,281
Deposits	22,074,041		21,724,312		21,633,838		20,839,207		20,730,051
Shareholders' equity	2,699,818		2,692,958		2,629,655		2,616,828		2,390,261
Average Balances
Investments	$	3,914,627	$	3,670,333	$	3,448,166	$	3,221,289	$	2,977,672
Net Loans	18,414,153		18,906,556		18,980,586		18,994,514		18,880,519
Total assets	26,440,876		26,017,542		26,082,816		25,749,405		25,169,508
Deposits	22,123,480		21,765,601		21,117,024		20,791,522		20,388,447
Shareholders' equity	2,722,833		2,669,413		2,637,098		2,544,866		2,374,091
Income Statement
Net interest income	$	171,270	$	162,399	$	164,448	$	161,591	$	154,116
Provision for credit losses	(600)		(3,500)		(5,500)		6,240		7,080
Non-interest income	62,577		51,890		95,397		55,574		63,249
Non-interest expense	144,596		140,831		178,384		154,737		139,145
Income before taxes	89,851		76,958		86,961		56,187		71,140
Net income available to common shareholders	73,021		62,402		70,472		48,690		61,611
Pre-provision net revenue(1)	90,947		75,575		81,795		64,092		80,044
Per Share
Net income available to common shareholders (basic)	$	0.45	$	0.38	$	0.43	$	0.30	$	0.38
Net income available to common shareholders (diluted)	$	0.45	$	0.38	$	0.43	$	0.30	$	0.38
Cash dividends	$	0.14	$	0.14	$	0.14	$	0.17	$	0.13
Common shareholders' equity	$	15.53	$	15.34	$	14.99	$	14.93	$	14.74
Common shareholders' equity (tangible)(1)	$	12.21	$	12.05	$	11.69	$	11.62	$	11.44
Weighted average shares (basic)	162,506		162,785		162,441		162,242		162,061
Weighted average shares (diluted)	163,456		163,858		163,737		163,071		162,579
(1) Non-GAAP financial measure. Refer to the calculation on the page titled “Reconciliation of Non-GAAP Measures” at the end of this document.

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	Three months ended
	Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
	2021		2021		2021		2020		2020
Asset Quality
Net charge-offs (recoveries) to average loans (annualized)	(0.05)	%	0.15	%	0.13	%	(0.07)	%	(0.05)	%
Non-performing loans to total loans	0.82	%	0.83	%	0.80	%	0.78	%	0.75	%
Non-performing assets to total assets	0.58	%	0.60	%	0.60	%	0.58	%	0.57	%
ACL - loans(2) to total loans	1.41	%	1.37	%	1.40	%	1.47	%	1.40	%
ACL - loans(2) to non-performing loans	171	%	166	%	174	%	189	%	188	%
Asset Quality, excluding PPP(1)(3)
Net charge-offs (recoveries) to adjusted average loans (annualized)	(0.05)	%	0.16	%	0.14	%	(0.08)	%	(0.06)	%
Non-performing loans to total adjusted loans	0.85	%	0.88	%	0.88	%	0.85	%	0.83	%
ACL - loans(2) to total adjusted loans	1.45	%	1.46	%	1.54	%	1.60	%	1.56	%
Profitability
Return on average assets	1.13	%	1.00	%	1.14	%	0.79	%	0.97	%
Return on average common shareholders' equity	10.64	%	9.38	%	10.84	%	7.61	%	10.32	%
Return on average common shareholders' equity (tangible)(1)	14.56	%	12.93	%	15.00	%	10.32	%	13.35	%
Net interest margin	2.82	%	2.73	%	2.79	%	2.75	%	2.70	%
Efficiency ratio(1)	60.3	%	63.8	%	63.0	%	62.5	%	62.3	%
Non-interest expenses to total average assets(1)	2.14	%	2.14	%	2.25	%	2.13	%	2.16	%
Capital Ratios
Tangible common equity ratio(1)	7.6	%	7.7	%	7.5	%	7.4	%	7.4	%
Tier 1 leverage ratio(4)	8.4	%	8.5	%	8.3	%	8.2	%	7.5	%
Common equity Tier 1 capital ratio(4)	10.1	%	10.0	%	9.8	%	9.5	%	9.6	%
Tier 1 risk-based capital ratio(4)	11.1	%	11.0	%	10.8	%	10.5	%	9.6	%
Total risk-based capital ratio(4)	14.5	%	14.5	%	14.2	%	14.4	%	13.8	%
(1) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this document.
(2) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Net Loans" and does not include the ACL related to off-balance-sheet ("OBS") credit exposures.
(3) Asset quality information excluding Paycheck Protection Program ("PPP") loans. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this document.
(4) Regulatory capital ratios as of September 30, 2021 are preliminary and prior periods are actual.

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FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
dollars in thousands
												% Change from
		Sep 30		Jun 30		Mar 31		Dec 31		Sep 30		Jun 30		Sep 30
		2021		2021		2021		2020		2020		2021		2020
ASSETS
	Cash and due from banks	$	260,564	$	143,002	$	102,570	$	120,462	$	139,304	82.2	%	87.0	%
	Other interest-earning assets	2,271,738		1,823,688		1,625,515		1,819,499		1,489,550		24.6	%	52.5	%
	Loans held for sale	43,123		41,924		34,092		83,886		93,621		2.9	%	(53.9)	%
	Investment securities	4,000,760		3,921,658		3,612,010		3,340,424		3,097,721		2.0	%	29.2	%
	Net Loans	18,269,407		18,586,756		18,990,986		18,900,820		19,028,621		(1.7)	%	(4.0)	%
	Less: ACL - loans(1)	(256,727)		(255,032)		(265,986)		(277,567)		(266,825)		0.7	%	(3.8)	%
	Loans, net	18,012,680		18,331,724		18,725,000		18,623,253		18,761,796		(1.7)	%	(4.0)	%
	Net, premises and equipment	228,179		228,353		229,035		231,480		236,943		(0.1)	%	(3.7)	%
	Accrued interest receivable	57,902		63,232		65,649		72,942		70,766		(8.4)	%	(18.2)	%
	Goodwill and intangible assets	536,697		536,847		536,544		536,659		534,907		—	%	0.3	%
	Other assets	979,189		989,346		962,575		1,078,128		1,118,673		(1.0)	%	(12.5)	%
	Total Assets	$	26,390,832	$	26,079,774	$	25,892,990	$	25,906,733	$	25,543,281	1.2	%	3.3	%
LIABILITIES AND SHAREHOLDERS' EQUITY
	Deposits	$	22,074,041	$	21,724,312	$	21,633,838	$	20,839,207	$	20,730,051	1.6	%	6.5	%
	Short-term borrowings	468,967		533,749		520,989		630,066		611,727		(12.1)	%	(23.3)	%
	Other liabilities	520,620		501,542		482,101		524,369		515,230		3.8	%	1.0	%
	Long-term borrowings	627,386		627,213		626,407		1,296,263		1,296,012		—	%	(51.6)	%
	Total Liabilities	23,691,014		23,386,816		23,263,335		23,289,905		23,153,020		1.3	%	2.3	%
	Shareholders' equity	2,699,818		2,692,958		2,629,655		2,616,828		2,390,261		0.3	%	13.0	%
	Total Liabilities and Shareholders' Equity	$	26,390,832	$	26,079,774	$	25,892,990	$	25,906,733	$	25,543,281	1.2	%	3.3	%
LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
Loans, by type:
	Real estate - commercial mortgage	$	7,145,115	$	7,152,932	$	7,142,137	$	7,105,092	$	7,046,330	(0.1)	%	1.4	%
	Commercial and industrial	3,863,154		3,870,462		3,986,858		4,088,561		4,007,278		(0.2)	%	(3.6)	%
	Real estate - residential mortgage	3,719,684		3,555,897		3,254,058		3,141,915		3,061,835		4.6	%	21.5	%
	Real estate - home equity	1,126,628		1,136,128		1,149,958		1,202,913		1,222,709		(0.8)	%	(7.9)	%
	Real estate - construction	1,111,487		1,070,755		1,083,494		1,047,218		1,007,534		3.8	%	10.3	%
	Consumer	458,595		448,433		451,857		466,772		469,551		2.3	%	(2.3)	%
	Equipment lease financing	242,967		252,158		260,907		279,118		280,286		(3.6)	%	(13.3)	%
	Other(2)	11,330		(14,410)		(26,677)		(12,481)		(27,067)		N/M		N/M
	Net Loans before PPP	17,678,960		17,472,355		17,302,592		17,319,108		17,068,456		1.2	%	3.6	%
	PPP	590,447		1,114,401		1,688,394		1,581,712		1,960,165		(47.0)	%	(69.9)	%
	Total Net Loans	$	18,269,407	$	18,586,756	$	18,990,986	$	18,900,820	$	19,028,621	(1.7)	%	(4.0)	%
Deposits, by type:
	Noninterest-bearing demand	$	7,434,155	$	7,442,132	$	7,046,116	$	6,531,002	$	6,378,077	(0.1)	%	16.6	%
	Interest-bearing demand	6,187,096		5,795,404		5,959,909		5,818,564		5,813,935		6.8	%	6.4	%
	Savings	6,401,619		6,276,554		6,244,513		5,929,792		5,805,431		2.0	%	10.3	%
	Total demand and savings	20,022,870		19,514,090		19,250,538		18,279,358		17,997,443		2.6	%	11.3	%
	Brokered	262,617		277,444		309,873		335,185		317,588		(5.3)	%	(17.3)	%
	Time	1,788,554		1,932,778		2,073,427		2,224,664		2,415,020		(7.5)	%	(25.9)	%
	Total Deposits	$	22,074,041	$	21,724,312	$	21,633,838	$	20,839,207	$	20,730,051	1.6	%	6.5	%
Short-term borrowings, by type:
	Customer funding	$	468,967	$	533,749	$	520,989	$	630,066	$	611,727	(12.1)	%	(23.3)	%
	Total Short-term Borrowings	$	468,967	$	533,749	$	520,989	$	630,066	$	611,727	(12.1)	%	(23.3)	%
(1) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.
(2) Consists of overdrafts and net origination fees and costs.

8

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
dollars in thousands
		Three Months Ended										% Change from				Nine Months Ended
		Sep 30		Jun 30		Mar 31		Dec 31		Sep 30		Jun 30		Sep 30		Sep 30
		2021		2021		2021		2020		2020		2021		2020		2021		2020		% Change
Interest Income:
	Interest income	$	184,079	$	176,673	$	184,936	$	183,645	$	179,159	4.2	%	2.7	%	$	545,688	$	559,233	(2.4)	%
	Interest expense	12,809		14,274		20,488		22,054		25,043		(10.3)	%	(48.9)	%	47,570		91,617		(48.1)	%
	Net Interest Income	171,270		162,399		164,448		161,591		154,116		5.5	%	11.1	%	498,118		467,616		6.5	%
	Provision for credit losses	(600)		(3,500)		(5,500)		6,240		7,080		82.9	%	(108.5)	%	(9,600)		70,680		(113.6)	%
	Net Interest Income after Provision	171,870		165,899		169,948		155,351		147,036		3.6	%	16.9	%	507,718		396,936		27.9	%
Non-Interest Income:
	Commercial banking:
	Merchant and card	6,979		6,786		5,768		5,953		6,237		2.8	%	11.9	%	19,533		17,187		13.6	%
	Cash management	5,285		5,341		4,921		4,737		4,742		(1.0)	%	11.5	%	15,547		13,987		11.2	%
	Capital markets	2,063		1,536		2,800		3,513		4,696		34.3	%	(56.1)	%	6,399		14,775		(56.7)	%
	Other commercial banking	2,411		3,466		2,853		2,606		2,636		(30.4)	%	(8.5)	%	8,730		7,528		16.0	%
	Total commercial banking	16,738		17,129		16,342		16,809		18,311		(2.3)	%	(8.6)	%	50,209		53,477		(6.1)	%
	Consumer banking:
	Card	5,941		5,733		5,878		5,123		5,002		3.6	%	18.8	%	17,552		14,653		19.8	%
	Overdraft	3,474		2,750		2,724		3,376		3,015		26.3	%	15.2	%	8,948		9,180		(2.5)	%
	Other consumer banking	2,386		2,377		2,152		2,298		2,406		0.4	%	(0.8)	%	6,915		6,967		(0.7)	%
	Total consumer banking	11,801		10,860		10,754		10,797		10,423		8.7	%	13.2	%	33,415		30,800		8.5	%
	Wealth management	18,532		17,634		17,347		15,653		14,943		5.1	%	24.0	%	53,513		43,405		23.3	%
	Mortgage banking	9,535		2,838		13,960		9,311		16,801		N/M		(43.2)	%	26,333		32,998		(20.2)	%
	Other	5,971		3,393		3,519		3,004		2,769		76.0	%	115.6	%	12,883		10,080		27.8	%
	Non-interest income before investment securities gains	62,577		51,854		61,922		55,574		63,247		20.7	%	(1.1)	%	176,353		170,761		3.3	%
	Investment securities gains, net	—		36		33,475		—		2		(100.0)	%	(100.0)	%	33,511		3,053		N/M
	Total Non-Interest Income	62,577		51,890		95,397		55,574		63,249		20.6	%	(1.1)	%	209,864		173,814		20.7	%
Non-Interest Expense:
	Salaries and employee benefits	82,679		78,367		82,586		83,929		79,227		5.5	%	4.4	%	243,632		240,467		1.3	%
	Data processing and software	14,335		13,932		13,561		11,951		12,285		2.9	%	16.7	%	41,828		36,123		15.8	%
	Net occupancy	12,957		12,494		13,982		13,161		13,221		3.7	%	(2.0)	%	39,433		39,851		(1.0)	%
	Other outside services	7,889		8,178		8,490		8,334		7,617		(3.5)	%	3.6	%	24,557		23,098		6.3	%
	Equipment	3,416		3,424		3,428		3,563		3,711		(0.2)	%	(7.9)	%	10,268		10,322		(0.5)	%
	Professional fees	2,271		2,651		2,779		2,424		2,879		(14.3)	%	(21.1)	%	7,701		10,412		(26.0)	%
	FDIC insurance	2,727		2,282		2,624		2,346		1,578		19.5	%	72.8	%	7,633		6,519		17.1	%
	Amortization of tax credit investments	1,546		1,563		1,531		1,532		1,694		(1.1)	%	(8.7)	%	4,640		4,594		1.0	%
	Marketing	1,448		1,348		1,002		1,098		1,147		7.4	%	26.2	%	3,798		4,029		(5.7)	%
	Intangible amortization	150		178		115		132		132		(15.7)	%	13.6	%	443		397		11.6	%
	Debt extinguishment	—		412		32,163		—		—		(100.0)	%	(100.0)	%	32,575		2,878		N/M
	Other	15,178		16,002		16,123		26,268		15,654		(5.1)	%	(3.0)	%	47,303		46,014		2.8	%
	Total Non-Interest Expense	144,596		140,831		178,384		154,737		139,145		2.7	%	3.9	%	463,811		424,705		9.2	%
	Income Before Income Taxes	89,851		76,958		86,961		56,187		71,140		16.8	%	26.3	%	253,771		146,045		73.8	%
	Income tax expense	14,268		11,994		13,898		5,362		9,529		19.0	%	49.7	%	40,160		18,832		113.3	%
	Net Income	75,583		64,964		73,063		50,825		61,611		16.3	%	22.7	%	213,611		127,213		67.9	%
	Preferred stock dividends	(2,562)		(2,562)		(2,591)		(2,135)		—		—	%	N/M		(7,715)		—		N/M
	Net Income Available to Common Shareholders	$	73,021	$	62,402	$	70,472	$	48,690	$	61,611	17.0	%	18.5	%	$	205,896	$	127,213	61.9	%
PER SHARE:
	Net income available to common shareholders:
	Basic	$	0.45	$	0.38	$	0.43	$	0.30	$	0.38	18.4	%	18.4	%	$	1.27	$	0.78	62.8	%
	Diluted	0.45		0.38		0.43		0.30		0.38		18.4	%	18.4	%	1.26		0.78		61.5	%
	Cash dividends	0.14		0.14		0.14		0.17		0.13		—	%	7.7	%	0.42		0.39		7.7	%
	Weighted average shares (basic)	162,506		162,785		162,441		162,242		162,061		(0.2)	%	0.3	%	162,577		162,416		0.1	%
	Weighted average shares (diluted)	163,456		163,858		163,737		163,071		162,579		(0.2)	%	0.5	%	163,634		163,083		0.3	%

N/M - Not meaningful

9

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Three months ended
		September 30, 2021						June 30, 2021						September 30, 2020
		Average		Interest		Yield/		Average		Interest		Yield/		Average		Interest		Yield/
		Balance		(1)		Rate		Balance		(1)		Rate		Balance		(1)		Rate
ASSETS
Interest-earning assets:
	Net Loans	$	18,414,153	$	163,343	3.53	%	$	18,906,556	$	156,525	3.32	%	$	18,880,519	$	160,344	3.38	%
	Taxable investment securities	2,785,828		13,757		1.80	%	2,630,090		13,898		1.93	%	2,011,893		13,150		2.61	%
	Tax-exempt investment securities	1,035,685		7,906		3.05	%	961,141		7,494		3.11	%	861,764		6,899		3.19	%
	Total Investment Securities	3,821,513		21,663		2.27	%	3,591,231		21,392		2.38	%	2,873,657		20,049		2.79	%
	Loans held for sale	36,427		299		3.28	%	31,948		199		2.49	%	79,999		728		3.64	%
	Other interest-earning assets	2,301,326		1,888		0.18	%	1,752,549		1,575		0.16	%	1,387,327		1,028		0.30	%
	Total Interest-earning Assets	24,573,419		187,193		3.03	%	24,282,284		179,691		2.97	%	23,221,502		182,149		3.13	%
Noninterest-earning assets:
	Cash and due from banks	200,315						129,927						138,567
	Premises and equipment	228,861						229,047						239,183
	Other assets	1,695,767						1,643,410						1,835,190
	Less: ACL - loans(2)	(257,486)						(267,126)						(264,934)
	Total Assets	$	26,440,876					$	26,017,542					$	25,169,508
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$	6,168,908	$	814	0.05	%	$	5,979,855	$	932	0.06	%	$	5,591,548	$	1,913	0.14	%
	Savings deposits	6,392,537		1,054		0.07	%	6,280,629		1,363		0.09	%	5,716,050		2,347		0.16	%
	Brokered deposits	270,168		229		0.34	%	297,815		253		0.34	%	314,721		440		0.56	%
	Time deposits	1,852,223		4,428		0.95	%	2,003,606		5,434		1.09	%	2,495,445		9,931		1.58	%
	Total Interest-bearing Deposits	14,683,836		6,525		0.18	%	14,561,905		7,982		0.22	%	14,117,764		14,631		0.41	%
	Short-term borrowings	494,811		131		0.11	%	514,025		137		0.11	%	613,127		370		0.24	%
	Long-term borrowings	627,300		6,153		3.92	%	626,795		6,155		3.93	%	1,295,515		10,042		3.10	%
	Total Interest-bearing Liabilities	15,805,947		12,809		0.32	%	15,702,725		14,274		0.36	%	16,026,406		25,043		0.62	%
Noninterest-bearing liabilities:
	Demand deposits	7,439,644						7,203,696						6,270,683
	Other	472,452						441,708						498,328
	Total Liabilities	23,718,043						23,348,129						22,795,417
	Total Deposits/Cost of Deposits	22,123,480				0.12	%	21,765,601				0.15	%	20,388,447				0.29	%
	Total Interest-bearing liabilities and non-interest bearing deposits ("Cost of Funds")	23,245,591				0.22	%	22,906,421				0.25	%	22,297,089				0.45	%
	Shareholders' equity	2,722,833						2,669,413						2,374,091
	Total Liabilities and Shareholders' Equity	$	26,440,876					$	26,017,542					$	25,169,508
	Net interest income/net interest margin (fully taxable equivalent)			174,384		2.82	%			165,417		2.73	%			157,106		2.70	%
	Tax equivalent adjustment			(3,114)						(3,018)						(2,990)
	Net interest income			$	171,270					$	162,399					$	154,116
	(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
	(2) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.

10

FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL (UNAUDITED):
dollars in thousands
		Three months ended										% Change from
		Sep 30		Jun 30		Mar 31		Dec 31		Sep 30		Jun 30		Sep 30
		2021		2021		2021		2020		2020		2021		2020
Loans, by type:
	Real estate - commercial mortgage	$	7,134,177	$	7,177,622	$	7,128,997	$	7,101,363	$	6,986,528	(0.6)	%	2.1	%
	Commercial and industrial	3,878,767		3,920,771		4,033,367		4,024,879		4,030,750		(1.1)	%	(3.8)	%
	Real estate - residential mortgage	3,642,822		3,396,690		3,183,585		3,087,529		2,975,516		7.2	%	22.4	%
	Real estate - home equity	1,128,076		1,139,558		1,175,218		1,212,113		1,237,602		(1.0)	%	(8.8)	%
	Real estate - construction	1,085,846		1,054,469		1,054,718		1,009,284		981,589		3.0	%	10.6	%
	Consumer	452,844		451,486		459,038		468,678		464,851		0.3	%	(2.6)	%
	Equipment lease financing	247,776		256,248		266,405		279,059		279,217		(3.3)	%	(11.3)	%
	Other(1)	(6,773)		(14,677)		(9,455)		(18,817)		(28,656)		53.9	%	76.4	%
	Net Loans before PPP	17,563,535		17,382,167		17,291,873		17,164,088		16,927,397		1.0	%	3.8	%
	PPP	850,618		1,524,389		1,688,713		1,830,426		1,953,122		(44.2)	%	(56.4)	%
	Total Net Loans	$	18,414,153	$	18,906,556	$	18,980,586	$	18,994,514	$	18,880,519	(2.6)	%	(2.5)	%
Deposits, by type:
	Noninterest-bearing demand	$	7,439,644	$	7,203,696	$	6,672,832	$	6,477,228	$	6,270,683	3.3	%	18.6	%
	Interest-bearing demand	6,168,908		5,979,855		5,832,174		5,762,150		5,591,548		3.2	%	10.3	%
	Savings	6,392,537		6,280,629		6,137,084		5,905,137		5,716,050		1.8	%	11.8	%
	Total demand and savings	20,001,089		19,464,180		18,642,090		18,144,515		17,578,281		2.8	%	13.8	%
	Brokered	270,168		297,815		324,364		340,451		314,721		(9.3)	%	(14.2)	%
	Time	1,852,223		2,003,606		2,150,570		2,306,556		2,495,445		(7.6)	%	(25.8)	%
	Total Deposits	$	22,123,480	$	21,765,601	$	21,117,024	$	20,791,522	$	20,388,447	1.6	%	8.5	%
Short-term borrowings, by type:
	Customer funding	$	494,811	$	514,025	$	570,775	$	622,623	$	613,127	(3.7)	%	(19.3)	%
	Total Short-term borrowings	$	494,811	$	514,025	$	570,775	$	622,623	$	613,127	(3.7)	%	(19.3)	%
(1) Consists of overdrafts and net origination fees and costs.

11

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Nine months ended September 30
		2021						2020
		Average		Interest		Yield/		Average		Interest		Yield/
		Balance		(1)		Rate		Balance		(1)		Rate
ASSETS
Interest-earning assets:
	Net Loans	$	18,765,024	$	485,330	3.46	%	$	18,027,253	$	498,455	3.69	%
	Taxable investment securities	2,619,411		41,345		1.93	%	2,165,180		44,615		2.75	%
	Tax-exempt investment securities	969,946		22,557		3.10	%	804,484		19,596		3.24	%
	Total Investment Securities	3,589,357		63,902		2.37	%	2,969,664		64,211		2.88	%
	Loans held for sale	40,551		969		3.19	%	54,355		1,557		3.82	%
	Other interest-earning assets	1,986,161		4,599		0.18	%	936,819		4,325		0.62	%
	Total Interest-earning Assets	24,381,093		554,799		3.04	%	21,988,091		568,548		3.45	%
Noninterest-earning assets:
	Cash and due from banks	150,435						143,496
	Premises and equipment	229,513						239,739
	Other assets	1,689,094						1,729,351
	Less: ACL - loans(2)	(268,412)						(242,300)
	Total Assets	$	26,181,723					$	23,858,377
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$	5,994,878	$	2,905	0.06	%	$	5,116,696	$	9,933	0.26	%
	Savings deposits	6,271,019		3,944		0.08	%	5,431,071		12,788		0.31	%
	Brokered deposits	297,250		876		0.39	%	300,795		1,935		0.86	%
	Time deposits	2,001,043		16,383		1.09	%	2,626,802		33,533		1.71	%
	Total Interest-bearing Deposits	14,564,190		24,108		0.22	%	13,475,364		58,189		0.58	%
	Short-term borrowings	526,259		456		0.12	%	873,694		4,960		0.76	%
	Long-term borrowings	839,396		23,006		3.66	%	1,240,253		28,468		3.06	%
	Total Interest-bearing Liabilities	15,929,845		47,570		0.40	%	15,589,311		91,617		0.78	%
Noninterest-bearing liabilities:
	Demand deposits	7,108,199						5,458,807
	Other	466,917						470,055
	Total Liabilities	23,504,961						21,518,173
	Total Deposits/Cost of Deposits	21,672,389				0.15	%	18,934,171				0.41	%
	Total Interest-bearing liabilities and non-interest bearing deposits ("Cost of Funds")	23,038,044				0.28	%	21,048,118				0.58	%
	Shareholders' equity	2,676,762						2,340,204
	Total Liabilities and Shareholders' Equity	$	26,181,723					$	23,858,377
	Net interest income/net interest margin (fully taxable equivalent)			507,229		2.78	%			476,931		2.90	%
	Tax equivalent adjustment			(9,111)						(9,315)
	Net interest income			$	498,118					$	467,616
	(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
	(2) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.

12

FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL (UNAUDITED):
dollars in thousands
		Nine months ended September 30
		2021		2020		% Change
Loans, by type:
	Real estate - commercial mortgage	$	7,146,951	$	6,870,148	4.0	%
	Commercial and industrial	3,943,736		4,308,559		(8.5)	%
	Real estate - residential mortgage	3,409,381		2,805,694		21.5	%
	Real estate - home equity	1,147,444		1,269,525		(9.6)	%
	Real estate - construction	1,065,125		950,845		12.0	%
	Consumer	454,434		465,661		(2.4)	%
	Equipment lease financing	256,741		282,800		(9.2)	%
	Other(1)	(10,292)		121		N/M
	Net Loans before PPP	17,413,520		16,953,353		2.7	%
	PPP	1,351,504		1,073,900		25.9	%
	Total Net Loans	$	18,765,024	$	18,027,253	4.1	%
Deposits, by type:
	Noninterest-bearing demand	$	7,108,199	$	5,458,807	30.2	%
	Interest-bearing demand	5,994,878		5,116,696		17.2	%
	Savings	6,271,019		5,431,071		15.5	%
	Total demand and savings	19,374,096		16,006,574		21.0	%
	Brokered	297,250		300,795		(1.2)	%
	Time	2,001,043		2,626,802		(23.8)	%
	Total Deposits	$	21,672,389	$	18,934,171	14.5	%
Short-term borrowings, by type:
	Customer funding	526,259		529,667		(0.6)	%
	Federal funds purchased	—		86,715		N/M
	Short-term FHLB advances and other borrowings	—		257,312		N/M
	Total Short-term Borrowings	$	526,259	$	873,694	(39.8)	%
N/M - Not meaningful
(1) Consists of overdrafts and net origination fees and costs.

13

FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
dollars in thousands
		Three months ended															Nine months ended
		Sep 30			Jun 30			Mar 31			Dec 31			Sep 30			Sep 30			Sep 30
		2021			2021			2021			2020			2020			2021			2020
Allowance for credit losses related to Net Loans:
Balance at beginning of period		$	255,032		$	265,986		$	277,567		$	266,825		$	256,537		$	277,567		$	163,620
	Impact of adopting CECL	—			—			—			—			—			—			45,724
	Loans charged off:
	Commercial and industrial	(647)			(954)			(4,319)			(1,567)			(2,969)			(5,920)			(17,348)
	Real estate - commercial mortgage	(14)			(6,506)			(1,837)			(300)			(746)			(8,357)			(3,925)
	Consumer and home equity	(504)			(1,130)			(847)			(668)			(1,093)			(2,481)			(3,925)
	Real estate - residential mortgage	(602)			(496)			(192)			—			(198)			(1,290)			(620)
	Real estate - construction	—			—			(39)			—			—			(39)			(17)
	Equipment lease financing and other	(467)			(436)			(968)			(483)			(483)			(1,871)			(1,704)
	Total loans charged off	(2,234)			(9,522)			(8,202)			(3,018)			(5,489)			(19,958)			(27,539)
Recoveries of loans previously charged off:
	Commercial and industrial	2,330			693			769			4,581			2,103			3,792			6,815
	Real estate - commercial mortgage	564			729			174			588			100			1,467			439
	Consumer and home equity	504			634			440			594			491			1,578			1,786
	Real estate - residential mortgage	86			105			95			199			95			286			292
	Real estate - construction	697			254			384			179			4,873			1,335			4,943
	Equipment lease financing and other	358			153			159			219			185			670			385
	Recoveries of loans previously charged off	4,539			2,568			2,021			6,360			7,847			9,128			14,660
Net loans recovered (charged off)		2,305			(6,954)			(6,181)			3,342			2,358			(10,830)			(12,879)
Provision for credit losses		(610)			(4,000)			(5,400)			7,400			7,930			(10,010)			70,360
Balance at end of period		$	256,727		$	255,032		$	265,986		$	277,567		$	266,825		$	256,727		$	266,825
Net charge-offs (recoveries) to average loans (annualized)		(0.05)		%	0.15		%	0.13		%	(0.07)		%	(0.05)		%	0.08		%	0.10		%
Allowance credit losses related to OBS Credit Exposures(1)
	Balance at beginning of period	$	14,773		$	14,273		$	14,373		$	15,533		$	16,383
	Provision for credit losses	10			500			(100)			(1,160)			(850)
	Balance at end of period	$	14,783		$	14,773		$	14,273		$	14,373		$	15,533
NON-PERFORMING ASSETS:
	Non-accrual loans	$	138,833		$	147,864		$	143,889		$	137,198		$	128,321
	Loans 90 days past due and accruing	11,389			5,865			8,559			9,929			13,761
	Total non-performing loans	150,222			153,729			152,448			147,127			142,082
	Other real estate owned	1,896			2,779			3,664			4,178			4,565
	Total non-performing assets	$	152,118		$	156,508		$	156,112		$	151,305		$	146,647
NON-PERFORMING LOANS, BY TYPE:
	Commercial and industrial	$	32,697		$	33,522		$	31,871		$	32,610		$	37,224
	Real estate - commercial mortgage	52,100			53,693			54,164			52,647			43,426
	Real estate - residential mortgage	37,077			38,185			36,152			30,793			28,287
	Consumer and home equity	11,509			11,408			13,072			13,090			12,292
	Real estate - construction	965			1,016			1,440			1,550			4,051
	Equipment lease financing and other	15,874			15,905			15,749			16,437			16,802
	Total non-performing loans	$	150,222		$	153,729		$	152,448		$	147,127		$	142,082
(1) The allowance for credit losses related to OBS Credit Exposures is presented in "other liabilities" on the consolidated balance sheets.

14

FULTON FINANCIAL CORPORATION
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
in thousands, except per share data and percentages
Explanatory note:	This press release contains supplemental financial information, as detailed below, which has been derived by methods other than Generally Accepted Accounting Principles ("GAAP"). The Corporation has presented these non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Management believes that these non-GAAP financial measures, in addition to GAAP measures, are also useful to investors to evaluate the Corporation's results. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly-titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure follow:
		Three months ended
		Sep 30		Jun 30		Mar 31		Dec 31		Sep 30
		2021		2021		2021		2020		2020
Common shareholders' equity (tangible), per share
Shareholders' equity		$	2,699,818	$	2,692,958	$	2,629,655	$	2,616,828	$	2,390,261
Less: Preferred stock		(192,878)		(192,878)		(192,878)		(192,878)		—
Less: Goodwill and intangible assets		(536,697)		(536,847)		(536,544)		(536,659)		(534,907)
Tangible common shareholders' equity (numerator)		$	1,970,243	$	1,963,233	$	1,900,233	$	1,887,291	$	1,855,354
Shares outstanding, end of period (denominator)		161,429		162,988		162,518		162,350		162,134
Common shareholders' equity (tangible), per share		$	12.21	$	12.05	$	11.69	$	11.62	$	11.44
Return on average common shareholders' equity (tangible)
Net income available to common shareholders		$	73,021	$	62,402	$	70,472	$	48,690	$	61,611
Plus: Intangible amortization, net of tax		118		140		90		104		103
(Numerator)		$	73,139	$	62,542	$	70,562	$	48,794	$	61,714
Average shareholders' equity		$	2,722,833	$	2,669,413	$	2,637,098	$	2,544,866	$	2,374,091
Less: Average preferred stock		(192,878)		(192,878)		(192,878)		(127,639)		—
Less: Average goodwill and intangible assets		(536,772)		(536,470)		(536,601)		(535,474)		(534,971)
Average tangible common shareholders' equity (denominator)		$	1,993,183	$	1,940,065	$	1,907,619	$	1,881,753	$	1,839,120
Return on average common shareholders' equity (tangible), annualized		14.56%		12.93%		15.00%		10.32%		13.35%
Tangible common equity to tangible assets (TCE Ratio)
Shareholders' equity		$	2,699,818	$	2,692,958	$	2,629,655	$	2,616,828	$	2,390,261
Less: Preferred stock		(192,878)		(192,878)		(192,878)		(192,878)		—
Less: Goodwill and intangible assets		(536,697)		(536,847)		(536,544)		(536,659)		(534,907)
Tangible common shareholders' equity (numerator)		$	1,970,243	$	1,963,233	$	1,900,233	$	1,887,291	$	1,855,354
Total assets		$	26,390,832	$	26,079,774	$	25,892,990	$	25,906,733	$	25,543,281
Less: Goodwill and intangible assets		(536,697)		(536,847)		(536,544)		(536,659)		(534,907)
Total tangible assets (denominator)		$	25,854,135	$	25,542,927	$	25,356,446	$	25,370,074	$	25,008,374
Tangible common equity to tangible assets		7.62%		7.69%		7.49%		7.44%		7.42%
Efficiency ratio
Non-interest expense		$	144,596	$	140,831	$	178,384	$	154,737	$	139,145
Less: Amortization of tax credit investments		(1,546)		(1,563)		(1,531)		(1,532)		(1,694)
Less: Intangible amortization		(150)		(178)		(115)		(132)		(132)
Less: 2020 cost savings initiatives		—		—		—		(15,400)		(800)
Less: Debt extinguishment costs		—		(412)		(32,163)		—		—
Non-interest expense (numerator)		$	142,900	$	138,678	$	144,575	$	137,673	$	136,519
Net interest income		$	171,270	$	162,399	$	164,449	$	161,591	$	154,116
Tax equivalent adjustment		3,114		3,018		2,979		2,987		2,990
Plus: Total Non-interest income		62,577		51,890		95,397		55,574		63,249
Less: Investment securities gains, net		—		(36)		(33,475)		—		(2)
Total revenue (denominator)		$	236,961	$	217,271	$	229,350	$	220,152	$	220,353
Efficiency ratio		60.3%		63.8%		63.0%		62.5%		62.0%

15

	Three months ended
	Sep 30			Jun 30			Mar 31			Dec 31			Sep 30
	2021			2021			2021			2020			2020
Non-interest expenses to total average assets (annualized)
Non-interest expense	$	144,596		$	140,831		$	178,384		$	154,737		$	139,145
Less: Amortization of tax credit investments	(1,546)			(1,563)			(1,531)			(1,532)			(1,694)
Less: Intangible amortization	(150)			(178)			(115)			(132)			(132)
Less: 2020 cost savings initiatives	—			—			—			(15,400)			(800)
Less: Debt extinguishment costs	—			(412)			(32,163)			—			—
Non-interest expense (numerator)	$	142,900		$	138,678		$	144,575		$	137,673		$	136,519
Total average assets (denominator)	$	26,440,876		$	26,017,542		$	26,082,816		$	25,749,405		$	25,169,508
Non-interest expenses to total average assets, (annualized)	2.14		%	2.14		%	2.25		%	2.13		%	2.16		%
Asset Quality, excluding PPP
Net loans recovered (charged-off) (numerator)	$	2,305		$	(6,954)		$	(6,181)		$	3,342		$	2,358
Average Net Loans	$	18,414,153		$	18,906,556		$	18,980,586		$	18,994,514		$	18,880,519
Less: Average PPP loans	(850,618)			(1,524,389)			(1,688,713)			(1,830,426)			(1,953,122)
Total adjusted average loans (denominator)	$	17,563,535		$	17,382,167		$	17,291,873		$	17,164,088		$	16,927,397
Net charge-offs (recoveries) to adjusted average loans (annualized)	(0.05)%			0.16%			0.14%			(0.08)%			(0.06)%
Non-performing loans (numerator)	$	150,222		$	153,729		$	152,448		$	147,127		$	142,082
Net Loans	$	18,269,407		$	18,586,756		$	18,990,986		$	18,900,820		$	19,028,621
Less: PPP loans	(590,447)			(1,114,401)			(1,688,394)			(1,581,712)			(1,960,165)
Total adjusted loans (denominator)	$	17,678,960		$	17,472,355		$	17,302,592		$	17,319,108		$	17,068,456
Non-performing loans to total adjusted loans	0.85%			0.88%			0.88%			0.85%			0.83%
ACL - loans (numerator)	$	256,727		$	255,032		$	265,986		$	277,567		$	266,825
Net Loans	$	18,269,407		$	18,586,756		$	18,990,986		$	18,900,820		$	19,028,621
Less: PPP loans	(590,447)			(1,114,401)			(1,688,394)			(1,581,712)			(1,960,165)
Total adjusted loans (denominator)	$	17,678,960		$	17,472,355		$	17,302,592		$	17,319,108		$	17,068,456
ACL - loans to total adjusted loans	1.45%			1.46%			1.54%			1.60%			1.56%
Pre-provision net revenue
Net interest income	$	171,270		$	162,399		$	164,448		$	161,591		$	154,116
Non-interest income	62,577			51,890			95,397			55,574			63,249
Less: Investment securities gains, net	—			(36)			(33,475)			—			(2)
Total revenue	$	233,847		$	214,253		$	226,370		$	217,165		$	217,363
Non-interest expense	$	144,596		$	140,831		$	178,384		$	154,737		$	139,145
Less: Debt extinguishment	—			(412)			(32,163)			—			—
Less: Amortization on tax credit investments	(1,546)			(1,563)			(1,531)			(1,532)			(1,694)
Less: Intangible amortization	(150)			(178)			(115)			(132)			(132)
Total non-interest expense	$	142,900		$	138,678		$	144,575		$	153,073		$	137,319
Pre-provision net revenue	$	90,947		$	75,575		$	81,795		$	64,092		$	80,044
Note: numbers may not sum due to rounding.

16

EX-99.2

THIRD QUARTER 2021 RESULTS NASDAQ: FULT Data as of or for the three months ended September 30, 2021 unless otherwise noted

This presentation may contain forward-looking statements with respect to the Corporation’s financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," “projects,” the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation’s future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation’s business or financial results. Management’s 2021 Outlook contained herein is comprised of forward-looking statements. Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, they are based on current beliefs, expectations and assumptions regarding the future of the Corporation’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation’s control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation’s actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission and are or will be available in the Investor Relations section of the Corporation’s website (www.fult.com) and on the Securities and Exchange Commission’s website (www.sec.gov). The Corporation uses certain non-GAAP financial measures in this presentation. These non-GAAP financial measures are reconciled to the most comparable GAAP measures at the end of this presentation. FORWARD-LOOKING STATEMENTS 2

1. ROA is return an average assets calculated as net income for the period divided by average assets, annualized. 2. ROE is return on average common shareholders’ equity calculated as net income available to common shareholders for the period divided by average common shareholders’ equity, annualized. 3. Non-GAAP financial measure. Please refer to the calculation and management’s reasons for using this measure on the slide titled “Non-GAAP Reconciliation” at the end of this presentation. INCOME STATEMENT SUMMARY 3 3Q21 2Q21 3Q20 (dollars in thousands, except per-share data) Net Interest Income $ 171,270 $ 162,399 $ 154,116 Provision for Credit Losses (600) (3,500) 7,080 Non-Interest Income 62,577 51,854 63,247 Securities Gains — 36 2 Non-Interest Expense 144,596 140,831 139,145 Income before Income Taxes 89,851 76,958 71,140 Income Taxes 14,268 11,994 9,529 Net Income 75,583 64,964 61,611 Preferred Stock Dividends (2,562) (2,562) — Net Income Available to Common Shareholders $ 73,021 $ 62,402 $ 61,611 Net income per share (diluted) $ 0.45 $ 0.38 $ 0.38 ROA(1) 1.13 % 1.00 % 0.97 % ROE(2) 10.64 % 9.38 % 10.32 % ROE (tangible)(3) 14.56 % 12.93 % 13.35 % Efficiency ratio(3) 60.3 % 63.8 % 62.3 %

NET INTEREST INCOME AND MARGIN Net Interest Income & Net Interest Margin Average Interest-Earning Assets & Yields Average Liabilities & Cost of Funds ($ IN MILLIONS) ($ IN BILLIONS) ($ IN BILLIONS) 4 $20 $21 $21 $22 $22$2 $2 $2 $1 $1 0.45% 0.39% 0.36% 0.25% 0.22% Cost of Funds Borrowings Deposits 3Q20 4Q20 1Q21 2Q21 3Q21 $— $5 $10 $15 $20 $25 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% $154 $162 $164 $162 $171 2.70% 2.75% 2.79% 2.73% 2.82% Net Interest Income Net Interest Margin (Fully-taxable equivalent basis, or FTE) 3Q20 4Q20 1Q21 2Q21 3Q21 $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% $19 $19 $19 $19 $18 $4 $5 $5 $5 $6 3.13% 3.12% 3.13% 2.97% 3.03% Loans Securities & Other Interest-Earning Asset Yield (FTE) 3Q20 4Q20 1Q21 2Q21 3Q21 $5 $10 $15 $20 $25 2.00% 4.00% 6.00% 8.00%

ASSET QUALITY ($ IN MILLIONS) Provision for Credit Losses Non-Performing Loans (NPLs) & NPLs to Loans Net Charge-offs (NCOs) and NCOs to Average Loans ACL(1) to NPLs & Loans 51. The allowance for credit losses (“ACL”) relates specifically to "Loans, net of unearned income" and does not include the ACL related to off-balance-sheet credit exposures. 2. Non-GAAP financial measure. Please refer to the calculation and management's reasons for using this measure on the slide titled "Non-GAAP Reconciliation" at the end of this presentation. $7 $6 $(6) $(4) $(1) 3Q20 4Q20 1Q21 2Q21 3Q21 $— $10 $20 $30 $40 $50 $142 $147 $152 $154 $150 0.75% 0.78% 0.80% 0.83% 0.82% NPL NPLs/Loans 3Q20 4Q20 1Q21 2Q21 3Q21 $100 $125 $150 $175 $200 0.00% 0.50% 1.00% 1.50% $(2) $(3) $6 $7 $(2) -0.05% -0.07% 0.13% 0.15% -0.05% Net charge-offs/(recoveries) NCOs/Average Loans (annualized) 3Q20 4Q20 1Q21 2Q21 3Q21 $0 $10 $20 $30 $40 (1.00)% (0.50)% 0.00% 0.50% 1.00% 188% 189% 174% 166% 171% 1.56% 1.60% 1.54% 1.46% 1.45% 1.40% 1.47% 1.40% 1.37% 1.41% ACL/NPLs ACL/Loans excl PPP(2) ACL/Loans 3Q20 4Q20 1Q21 2Q21 3Q21 50% 75% 100% 125% 150% 175% 200% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00%

NON-INTEREST INCOME(1) (1) Excluding investment securities gains Three months ended September 30, 2021 (percent of total non-interest income) 6 Non-interest income(1) increased 21% from 2Q21 Increases in: n Mortgage Banking driven by a decrease in the mortgage servicing rights valuation allowance of $3.5 million compared to an increase of $2.2 million in Q2 21. n Other income due to an increase of $2.1 million from equity method investments. Partially offset by a decrease in: n Commercial Banking income due to the timing of SBA portfolio sales. 29% 15% 20% 27% 9% Wealth Management Mortgage Banking Consumer Banking Commercial Banking Other 3Q21 2Q21 Change (dollars in thousands) n Wealth Management $ 18,532 $ 17,634 $ 898 n Mortgage Banking 9,535 2,838 6,697 n Consumer Banking 11,801 10,860 941 n Commercial Banking 16,738 17,129 (391) n Other 5,971 3,393 2,578 Total $ 62,577 $ 51,854 $ 10,723

NON-INTEREST EXPENSE Three months ended September 30, 2021 (percent of total non-interest expense) 7 58% 9% 10% 5% 18% Salaries and Benefits Occupancy Data Processing and Software Other Outside Services Debt extinguishment Other 3Q21 2Q21 Change (dollars in thousands) n Salaries and Benefits $ 82,679 $ 78,367 $ 4,312 n Occupancy 12,957 12,494 463 n Data Processing and Software 14,335 13,932 403 n Other Outside Services 7,889 8,178 (289) n Debt Extinguishment — 412 (412) n Other 26,736 27,448 (712) Total $ 144,596 $ 140,831 $ 3,765 Non-interest expense increased 3% from 2Q21 Driven primarily by: n $4.3 million increase in salaries and benefits and $0.5 million in occupancy expenses. Partially offset by decreases in: n Debt extinguishment. n Other expenses.

CAPITAL POSITION REMAINS STRONG 8 1. Regulatory capital ratios as of September 30, 2021 are preliminary. 2. Excesses shown are to regulatory minimums, including the 250 basis point capital conservation buffer, except for Tier 1 Leverage which is the well-capitalized minimum. Dollars are in millions. 8.4% 10.1% 11.1% 14.5% Regulatory Minimums Excess(2) Tier 1 Leverage CE Tier 1 Tier 1 Risk Based Total Risk Based —% 2.5% 5.0% 7.5% 10.0% 12.5% 15.0% 17.5% $885 $512 $614 $781 (as of September 30, 2021)

2021 OUTLOOK 9 Net interest income: $655 - $665 million(1) Provision for credit losses: Negative provision for 2021(2) Non-interest income: $230 - $235 million(3) Non-interest expense: $570 - $575 million(4) (1) Updated as of 3Q 2021; previously $640 - $660 million. (2) Updated as of 3Q 2021; previously $10 - $20 million. (3) Updated as of 3Q 2021; previously $220 - $230 million. (4) Excluding charges related to the 1Q 2021 balance sheet restructuring. Updated as of 3Q 2021; previously $560 - $570 million.

NON-GAAP RECONCILIATION Note: The Corporation has presented the following non-GAAP (Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly-titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. 10 (dollars in thousands) Three months ended Sep 30 Jun 30 Sep 30 Return on average common shareholders' equity (tangible) 2021 2021 2020 Net income available to common shareholders $ 73,021 $ 62,402 $ 61,611 Plus: Intangible amortization, net of tax 118 140 103 (Numerator) 73,139 62,542 61,714 Average shareholders' equity $ 2,722,833 $ 2,669,413 $ 2,374,091 Less: Average preferred stock (192,878) (192,878) — Less: Average goodwill and intangible assets (536,772) (536,470) (534,971) Average tangible common shareholders' equity (denominator) 1,993,183 1,940,065 1,839,120 Return on average common shareholders' equity (tangible), annualized 14.56 % 12.93 % 13.35 %

NON-GAAP RECONCILIATION 11 (dollars in thousands) Three months ended Sep 30 Jun 30 Sep 30 Efficiency ratio 2021 2021 2020 Non-interest expense $ 144,596 $ 140,831 $ 139,145 Less: Amortization of tax credit investments (1,546) (1,563) (1,694) Less: Intangible amortization (150) (178) (132) Less: 2020 cost savings initiatives — — (800) Less: Debt extinguishment costs — (412) — Non-interest expense (numerator) $ 142,900 $ 138,678 $ 136,519 Net interest income $ 171,270 $ 162,399 $ 154,116 Tax equivalent adjustment 3,114 3,018 2,990 Plus: Total Non-interest income 62,577 51,890 63,249 Less: Investment securities gains, net — (36) (2) Total revenue (denominator) $ 236,961 $ 217,271 $ 220,353 Efficiency ratio 60.3 % 63.8 % 62.0 % Sep 30 Jun 30 Mar 31 Dec 31 Sep 30 Asset Quality, excluding PPP 2021 2021 2021 2020 2020 ACL - loans (numerator) $ 256,727 $ 255,032 $ 265,986 $ 277,567 $ 266,825 Net Loans $ 18,269,407 $ 18,586,756 $ 18,990,986 $ 18,900,820 $ 19,028,621 Less: PPP loans (590,447) (1,114,401) (1,688,394) (1,581,712) (1,960,165) Total adjusted loans (denominator) $ 17,678,960 $ 17,472,355 $ 17,302,592 $ 17,319,108 $ 17,068,456 ACL - loans to total adjusted loans 1.45 % 1.46 % 1.54 % 1.60 % 1.56 %

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Cover Page	Oct. 19, 2021
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Oct. 19, 2021
Entity Registrant Name	Fulton Financial Corporation
Entity Central Index Key	0000700564
Amendment Flag	false
Entity Incorporation, State or Country Code	PA
Entity File Number	0-39680
Entity Tax Identification Number	23-2195389
Entity Address, Address Line One	One Penn Square,
Entity Address, City or Town	Lancaster,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17602
City Area Code	717
Local Phone Number	291-2411
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, par value $2.50
Trading Symbol	FULT
Security Exchange Name	NASDAQ
Series A Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
Trading Symbol	FULTP
Security Exchange Name	NASDAQ