Fulton Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Announces Net Loans Charge-Off for the Fourth Quarter Ended December 31, 2015
January 19, 2016 at 04:50 pm
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Fulton Financial Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company announced interest income of $147,560,000 compared to $149,594,000 for the same period a year ago. Net interest income was $127,799,000 compared to $128,038,000 for the same period a year ago. Income before income taxes was $52,449,000 compared to $49,419,000 for the same period a year ago. Net income was $38,535,000 or $0.22 per basic and diluted share compared to $37,949,000 or $0.21 per basic and diluted share for the same period a year ago. Return on average assets was 0.86% compared to 0.88% for the same period a year ago. Return on average shareholders' equity was 7.51% compared to 7.34% for the same period a year ago. Return on average shareholders' equity (tangible) was 10.16% compared to 9.96% for the same period a year ago.
For the full year, the company announced interest income of $583,789,000 compared to $596,078,000 for the same period a year ago. Net interest income was $499,994,000 compared to $514,867,000 for the same period a year ago. Income before income taxes was $199,423,000 compared to $210,500,000 for the same period a year ago. Net income was $149,502,000 or $0.85 per basic and diluted share compared to $157,894,000 or $0.84 per diluted share for the same period a year ago. Return on average assets was 0.86% compared to 0.93% for the same period a year ago. Return on average shareholders' equity was 7.38% compared to 7.62% for the same period a year ago. Return on average shareholders' equity (tangible) was 10.01% compared to 10.31% for the same period a year ago.
For the fourth quarter ended December 31, 2015, the company announced net loans charged off of $733,000 compared to $8,177,000 for the same period a year ago.
Fulton Financial Corporation is a financial holding company. Through banking subsidiary, Fulton Bank (the Bank), it delivers financial services within its five-state market area, comprised of Pennsylvania, Delaware, Maryland, New Jersey and Virginia. It offers a range of consumer and commercial banking as well as wealth management products and services, to its customers and the communities it serves. Its consumer banking products and services include various checking account and savings deposit products and certificates of deposit. Its consumer loan products include automobile loans, personal lines of credit and checking account overdraft protection. It provides commercial banking products and services to small and medium sized businesses. Its commercial lending products include commercial real estate loans, commercial and industrial loans, and construction loans. Its wealth management services include investment management, trust, brokerage, insurance and investment advisory services.
Fulton Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Announces Net Loans Charge-Off for the Fourth Quarter Ended December 31, 2015