Fulton Financial Corporation · NASDAQ:FULT
Fulton Financial — Q1 2017 Earnings Presentation
13 slides from Fulton Financial's earnings presentation, Apr 18, 2017
Slide 1: 2017 First Quarter Results
D A T A A S O F M A R C H 3 1 , 2 0 1 7 U N L E S S O T H E R W I S E N O T E D 2017 FIRST QUARTER RESULTS NASDAQ: FULT
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation may contain forward-looking statements with respect to Fulton Financial 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 wor
Slide 3: First Quarter Highlights
FIRST QUARTER HIGHLIGHTS Diluted Earnings Per Share: $0.25 in 1Q17, 4.2% increase from 4Q16 and 13.6% increase from 1Q16 Pre-Provision Net Revenue(1): $60.9 million, 9.0% increase from 4Q16 and 19.8% increase from 1Q16 Linked Quarter Loan and Core Deposit Growth: 2.6% increase in average loans, whil
Slide 4: Income Statement Summary
INCOME STATEMENT SUMMARY Net Income of $43.4 million; a 2.9% increase from 4Q16 and a 13.4% increase from 1Q16. Earnings per share increased 4.2% from 4Q16 and 13.6% from 1Q16. Net Interest Income From 4Q16: Increase of 4.0%, reflecting the impact of loan growth and an 11 basis point increase
Slide 5: Net Interest Income and Margin
NET INTEREST INCOME AND MARGIN Net Interest Income & Net Interest Margin ~ $730 million ~ $610 million $129.1 $128.9 $130.6 $132.2 $137.6 3.23% 3.20% 3.14% 3.15% 3.26% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% $- $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 $160.0 1Q16 2Q16 3Q16 4Q16 1Q1
Slide 6: Asset Quality
ASSET QUALITY ($ IN MILLIONS) 6 Provision for Credit Losses Non-Performing Loans (NPLs) & NPLs to Loans 121.05% 129.26% 119.59% 130.15% 131.26% 1.20% 1.17% 1.15% 1.17% 1.15% 0.00% 1.00% 2.00% 3.00% 0.0% 25.0% 50.0% 75.0% 100.0% 125.0% 150.0% 1Q16 2Q16 3Q16 4Q16 1Q17 Allowance/NPLs Allowance/Loans Ne
Slide 7: Non-Interest Income – Quarter Comparison
NON-INTEREST INCOME – QUARTER COMPARISON ($ IN MILLIONS) Non-Interest Income, Excluding Securities Gains ~ $730 million ~ $610 million $42.2 $46.1 $48.1 $51.2 $45.6 $- $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 1Q16 2Q16 3Q16 4Q16 1Q17 Mortgage Banking Income & Spreads Other Non-Interest Income 1.28% 1.71%
Slide 8: Non-Interest Expenses – Quarter Comparison
NON-INTEREST EXPENSES – QUARTER COMPARISON ($ IN MILLIONS) Non-Interest Expense & Efficiency Ratio (1) ~ $730 million ~ $610 million $120.4 $121.6 $119.8 $127.6 $122.3 68.3% 67.6% 65.2% 67.6% 64.8% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% $- $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 1
Slide 9: Profitability & Capital
PROFITABILITY & CAPITAL 9 ROA(1) ROE (tangible)(2) Tangible Common Equity Ratio(2) Diluted Earnings Per Common Share 10.07% 10.26% 10.38% 10.47% 10.93% 0.00% 4.00% 8.00% 12.00% 1Q16 2Q16 3Q16 4Q16 1Q17 0.86% 0.88% 0.89% 0.89% 0.92% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1Q16 2Q16 3Q16 4Q16 1Q17 (
Slide 10: 2017 Outlook
2017 OUTLOOK The following outlook remains unchanged from prior quarter: • Loans & Deposits: Annual average growth rate in the mid- to high-single digits • Asset Quality: Provision driven primarily by loan growth • Non-Interest Income (Excluding Securities Gains): Mid- to high-single digit growth ra
Slide 11: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Note: The Corporation has presented the following non-GAAP (Generally Accepted Accounting Principles) financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financia
Slide 12: Non-GAAP Reconciliation (Con't)
NON-GAAP RECONCILIATION (CON’T) 12 Mar 31 Jun 30 Sep 30 Dec 31 Mar 31 2016 2016 2016 2016 2017 Tangible Common Equity to Tangible Assets (TCE Ratio) Shareholders' equity 2,073,309$ 2,106,997$ 2,129,436$ 2,121,115$ 2,154,683$ Less: Intangible assets (531,556) (531,556) (531,556) (531,556) (531,556) T
Slide 13: Fulton Financial Corporation
FULTON FINANCIAL CORPORATION www.fult.com