Fulton Financial (FULT) 8-K Fulton Financial reports second quarter earnings of $0.20 per share

Exhibit 99.2
FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
dollars in thousands
											% Change from
		June 30			June 30			March 31			June 30		March 31
		2012			2011			2012			2011		2012
ASSETS
	Cash and due from banks	$	242,811		$	284,691		$	286,875		(14.7	)%	(15.4	)%
	Loans held for sale	71,406			47,133			70,128			51.5	%	1.8	%
	Other interest-earning assets	118,468			124,967			106,227			(5.2	)%	11.5	%
	Investment securities	2,870,832			2,663,044			3,089,407			7.8	%	(7.1	)%
	Loans, net of unearned income	11,982,833			11,852,491			11,957,600			1.1	%	0.2	%
	Allowance for loan losses	(235,737		)	(266,683		)	(256,496		)	(11.6	)%	(8.1	)%
	Net Loans	11,747,096			11,585,808			11,701,104			1.4	%	0.4	%
	Premises and equipment	222,083			207,177			215,756			7.2	%	2.9	%
	Accrued interest receivable	48,283			51,387			51,247			(6.0	)%	(5.8	)%
	Goodwill and intangible assets	542,622			545,909			543,383			(0.6	)%	(0.1	)%
	Other assets	474,149			457,004			472,095			3.8	%	0.4	%
	Total Assets	$	16,337,750		$	15,967,120		$	16,536,222		2.3	%	(1.2	)%
LIABILITIES AND SHAREHOLDERS' EQUITY
	Deposits	$	12,232,484		$	12,262,895		$	12,340,722		(0.2	)%	(0.9	)%
	Short-term borrowings	931,681			546,581			964,550			70.5	%	(3.4	)%
	Federal Home Loan Bank advances and long-term debt	908,809			1,025,537			933,981			(11.4	)%	(2.7	)%
	Other liabilities	223,592			178,798			274,106			25.1	%	(18.4	)%
	Total Liabilities	14,296,566			14,013,811			14,513,359			2.0	%	(1.5	)%
	Shareholders' equity	2,041,184			1,953,309			2,022,863			4.5	%	0.9	%
	Total Liabilities and Shareholders' Equity	$	16,337,750		$	15,967,120		$	16,536,222		2.3	%	(1.2	)%
LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
Loans, by type:
	Real estate - commercial mortgage	$	4,653,097		$	4,443,025		$	4,634,428		4.7	%	0.4	%
	Commercial - industrial, financial and agricultural	3,538,188			3,678,858			3,518,228			(3.8	)%	0.6	%
	Real estate - home equity	1,599,468			1,626,545			1,601,880			(1.7	)%	(0.2	)%
	Real estate - residential mortgage	1,183,613			1,023,646			1,176,947			15.6	%	0.6	%
	Real estate - construction	619,060			681,588			647,700			(9.2	)%	(4.4	)%
	Consumer	308,469			330,965			308,495			(6.8	)%	—	%
	Leasing and other	80,938			67,864			69,922			19.3	%	15.8	%
	Total Loans, net of unearned income	$	11,982,833		$	11,852,491		$	11,957,600		1.1	%	0.2	%
Deposits, by type:
	Noninterest-bearing demand	$	2,748,269		$	2,445,008		$	2,682,259		12.4	%	2.5	%
	Interest-bearing demand	2,482,271			2,290,478			2,486,382			8.4	%	(0.2	)%
	Savings deposits	3,267,299			3,252,200			3,295,510			0.5	%	(0.9	)%
	Time deposits	3,734,645			4,275,209			3,876,571			(12.6	)%	(3.7	)%
	Total Deposits	$	12,232,484		$	12,262,895		$	12,340,722		(0.2	)%	(0.9	)%
Short-term borrowings, by type:
	Customer repurchase agreements	$	204,526		$	208,948		$	204,627		(2.1	)%	—	%
	Customer short-term promissory notes	135,988			171,454			149,376			(20.7	)%	(9.0	)%
	Federal funds purchased and other	591,167			166,179			610,547			255.7	%	(3.2	)%
	Total Short-term borrowings	$	931,681		$	546,581		$	964,550		70.5	%	(3.4	)%

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
dollars in thousands, except per-share data
		Quarter Ended									% Change from				Six Months ended
		June 30			June 30			Mar 31			June 30		Mar 31		June 30
		2012			2011			2012			2011		2012		2012			2011			% Change
Interest Income:
	Interest income	$	163,985		$	174,935		$	166,891		(6.3	)%	(1.7	)%	$	330,876		$	350,629		(5.6	)%
	Interest expense	26,455			34,290			28,196			(22.8	)%	(6.2	)%	54,651			70,421			(22.4	)%
	Net Interest Income	137,530			140,645			138,695			(2.2	)%	(0.8	)%	276,225			280,208			(1.4	)%
	Provision for credit losses	25,500			36,000			28,000			(29.2	)%	(8.9	)%	53,500			74,000			(27.7	)%
	Net Interest Income after Provision	112,030			104,645			110,695			7.1	%	1.2	%	222,725			206,208			8.0	%
Other Income:
	Service charges on deposit accounts	15,367			14,332			14,842			7.2	%	3.5	%	30,209			27,637			9.3	%
	Other service charges and fees	11,507			12,709			10,555			(9.5	)%	9.0	%	22,062			24,191			(8.8	)%
	Mortgage banking income	11,143			6,049			10,050			84.2	%	10.9	%	21,193			11,512			84.1	%
	Investment management and trust services	9,822			9,638			9,377			1.9	%	4.7	%	19,199			18,842			1.9	%
	Investment securities gains (losses)	1,538			(335		)	1,251			N/M		22.9	%	2,789			1,950			43.0	%
	Other	3,987			3,386			5,605			17.7	%	(28.9	)%	9,592			7,108			34.9	%
	Total Other Income	53,364			45,779			51,680			16.6	%	3.3	%	105,044			91,240			15.1	%
Other Expenses:
	Salaries and employee benefits	60,091			56,070			60,360			7.2	%	(0.4	)%	120,451			110,378			9.1	%
	Net occupancy expense	11,205			10,874			10,935			3.0	%	2.5	%	22,140			22,240			(0.4	)%
	Data processing	3,759			3,214			3,688			17.0	%	1.9	%	7,447			6,586			13.1	%
	Equipment expense	3,185			3,377			3,369			(5.7	)%	(5.5	)%	6,554			6,509			0.7	%
	FDIC insurance expense	3,002			3,264			3,021			(8.0	)%	(0.6	)%	6,023			8,018			(24.9	)%
	Professional fees	2,984			3,102			2,582			(3.8	)%	15.6	%	5,566			5,951			(6.5	)%
	OREO and repossession expense	2,823			982			2,928			187.5	%	(3.6	)%	5,751			2,253			155.3	%
	Marketing	2,583			1,863			2,472			38.6	%	4.5	%	5,055			4,699			7.6	%
	Software	2,272			1,973			2,175			15.2	%	4.5	%	4,447			4,004			11.1	%
	Operating risk loss	2,055			(8		)	3,368			N/M		(39.0	)%	5,423			(470		)	N/M
	Other	18,184			16,174			15,813			12.4	%	15.0	%	33,997			31,581			7.7	%
	Total Other Expenses	112,143			100,885			110,711			11.2	%	1.3	%	222,854			201,749			10.5	%
	Income Before Income Taxes	53,251			49,539			51,664			7.5	%	3.1	%	104,915			95,699			9.6	%
	Income tax expense	13,360			13,154			13,532			1.6	%	(1.3	)%	26,892			25,529			5.3	%
	Net Income	$	39,891		$	36,385		$	38,132		9.6	%	4.6	%	78,023			70,170			11.2	%
PER SHARE:
	Net income:
	Basic	$	0.20		$	0.18		$	0.19		11.1	%	5.3	%	$	0.39		$	0.35		11.4	%
	Diluted	0.20			0.18			0.19			11.1	%	5.3	%	0.39			0.35			11.4	%
	Cash dividends	$	0.07		$	0.05		$	0.07		40.0	%	—	%	$	0.14		$	0.09		55.6	%
	Shareholders' equity	10.16			9.80			10.10			3.7	%	0.6	%	10.16			9.80			3.7	%
	Shareholders' equity (tangible)	7.46			7.06			7.38			5.7	%	1.1	%	7.46			7.06			5.7	%
	Weighted average shares (basic)	199,671			198,772			199,492			0.5	%	0.1	%	199,581			198,686			0.5	%
	Weighted average shares (diluted)	200,806			199,527			200,344			0.6	%	0.2	%	200,575			199,407			0.6	%
	Shares outstanding, end of period	200,880			199,370			200,354			0.8	%	0.3	%	200,880			199,370			0.8	%
SELECTED FINANCIAL RATIOS:
	Return on average assets	0.98		%	0.91		%	0.94		%					0.96		%	0.88		%
	Return on average common shareholders' equity	7.84		%	7.53		%	7.61		%					7.72		%	7.38		%
	Return on average common shareholders' equity (tangible)	10.80		%	10.71		%	10.56		%					10.68		%	10.54		%
	Net interest margin	3.78		%	3.95		%	3.85		%					3.81		%	3.93		%
	Efficiency ratio	57.55		%	52.27		%	56.84		%					57.20		%	52.83		%
N/M - Not Meaningful

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Quarter Ended
		June 30, 2012								June 30, 2011								March 31, 2012
		Average						Yield/		Average						Yield/		Average						Yield/
		Balance			Interest (1)			Rate		Balance			Interest (1)			Rate		Balance			Interest (1)			Rate
ASSETS
Interest-earning assets:
	Loans, net of unearned income	$	11,965,704		$	144,263		4.85	%	$	11,883,019		$	151,974		5.13	%	$	11,978,972		$	147,046		4.94	%
	Taxable investment securities	2,533,060			18,624			2.94	%	2,141,307			20,749			3.88	%	2,402,158			18,661			3.11	%
	Tax-exempt investment securities	283,736			3,992			5.63	%	343,214			4,840			5.64	%	294,724			4,157			5.64	%
	Equity securities	106,954			707			2.65	%	128,258			775			2.42	%	115,593			780			2.71	%
	Total Investment Securities	2,923,750			23,323			3.19	%	2,612,779			26,364			4.04	%	2,812,475			23,598			3.36	%
	Loans held for sale	55,813			538			3.85	%	36,793			492			5.34	%	40,478			431			4.26	%
	Other interest-earning assets	129,272			45			0.14	%	163,548			101			0.25	%	101,570			53			0.21	%
	Total Interest-earning Assets	15,074,539			168,169			4.48	%	14,696,139			178,931			4.88	%	14,933,495			171,128			4.61	%
Noninterest-earning assets:
	Cash and due from banks	233,427								278,393								263,128
	Premises and equipment	216,881								207,141								212,567
	Other assets	1,093,673								1,098,116								1,102,868
	Less: allowance for loan losses	(259,327		)						(273,593		)						(266,092		)
	Total Assets	$	16,359,193							$	16,006,196							$	16,245,966
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$	2,484,730		$	1,025		0.17	%	$	2,352,961		$	1,371		0.23	%	$	2,464,452		$	1,036		0.17	%
	Savings deposits	3,292,620			1,510			0.18	%	3,356,361			3,258			0.39	%	3,341,035			1,810			0.22	%
	Time deposits	3,791,362			12,208			1.30	%	4,353,352			17,146			1.58	%	3,951,908			13,404			1.36	%
	Total Interest-bearing Deposits	9,568,712			14,743			0.62	%	10,062,674			21,775			0.87	%	9,757,395			16,250			0.67	%
	Short-term borrowings	961,900			411			0.17	%	455,831			168			0.15	%	728,102			281			0.15	%
	Federal Home Loan Bank advances and long-term debt	929,318			11,301			4.88	%	1,025,637			12,347			4.82	%	983,304			11,665			4.76	%
	Total Interest-bearing Liabilities	11,459,930			26,455			0.93	%	11,544,142			34,290			1.19	%	11,468,801			28,196			0.99	%
Noninterest-bearing liabilities:
	Demand deposits	2,669,152								2,362,614								2,565,089
	Other	183,794								162,202								195,465
	Total Liabilities	14,312,876								14,068,958								14,229,355
	Shareholders' equity	2,046,317								1,937,238								2,016,611
	Total Liabilities and Shareholders' Equity	$	16,359,193							$	16,006,196							$	16,245,966
	Net interest income/net interest margin (fully taxable equivalent)				141,714			3.78	%				144,641			3.95	%				142,932			3.85	%
	Tax equivalent adjustment				(4,184		)						(3,996		)						(4,237		)
	Net interest income				$	137,530							$	140,645							$	138,695
	(1) Presented on a tax-equivalent basis using a 35% Federal tax rate and statutory interest expense disallowances.

AVERAGE LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
		Quarter Ended						% Change from
		June 30		June 30		March 31		June 30		March 31
		2012		2011		2012		2011		2012
Loans, by type:
	Real estate - commercial mortgage	$	4,634,436	$	4,430,046	$	4,617,507	4.6	%	0.4	%
	Commercial - industrial, financial and agricultural	3,529,947		3,689,877		3,585,520		(4.3	)%	(1.5	)%
	Real estate - home equity	1,599,702		1,623,438		1,611,565		(1.5	)%	(0.7	)%
	Real estate - residential mortgage	1,179,513		1,023,471		1,137,625		15.2	%	3.7	%
	Real estate - construction	640,282		712,638		641,574		(10.2	)%	(0.2	)%
	Consumer	307,071		332,960		311,592		(7.8	)%	(1.5	)%
	Leasing and other	74,753		70,589		73,589		5.9	%	1.6	%
	Total Loans, net of unearned income	$	11,965,704	$	11,883,019	$	11,978,972	0.7	%	(0.1	)%
Deposits, by type:
	Noninterest-bearing demand	$	2,669,152	$	2,362,614	$	2,565,089	13.0	%	4.1	%
	Interest-bearing demand	2,484,730		2,352,961		2,464,452		5.6	%	0.8	%
	Savings deposits	3,292,620		3,356,361		3,341,035		(1.9	)%	(1.4	)%
	Time deposits	3,791,362		4,353,352		3,951,908		(12.9	)%	(4.1	)%
	Total Deposits	$	12,237,864	$	12,425,288	$	12,322,484	(1.5	)%	(0.7	)%
Short-term borrowings, by type:
	Customer repurchase agreements	$	226,216	$	217,657	$	200,542	3.9	%	12.8	%
	Customer short-term promissory notes	146,307		171,958		155,071		(14.9	)%	(5.7	)%
	Federal funds purchased and other	589,377		66,216		372,489		790.1	%	58.2	%
	Total Short-term borrowings	$	961,900	$	455,831	$	728,102	111.0	%	32.1	%

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Six Months ended June 30
		2012								2011
		Average								Average
		Balance			Interest (1)			Yield/Rate		Balance			Interest (1)			Yield/Rate
ASSETS
Interest-earning assets:
	Loans, net of unearned income	$	11,972,338		$	291,309		4.89	%	$	11,902,124		$	303,660		5.14	%
	Taxable investment securities	2,467,609			37,285			3.02	%	2,235,789			42,556			3.81	%
	Tax-exempt investment securities	289,230			8,149			5.63	%	343,832			9,725			5.66	%
	Equity securities	111,274			1,487			2.68	%	130,537			1,527			2.35	%
	Total Investment Securities	2,868,113			46,921			3.27	%	2,710,158			53,808			3.97	%
	Loans held for sale	48,145			969			4.02	%	41,082			992			4.83	%
	Other interest-earning assets	115,421			98			0.17	%	115,233			134			0.23	%
	Total Interest-earning Assets	15,004,017			339,297			4.55	%	14,768,597			358,594			4.89	%
Noninterest-earning assets:
	Cash and due from banks	248,278								269,444
	Premises and equipment	214,725								207,263
	Other assets	1,098,269								1,100,319
	Less: allowance for loan losses	(262,709		)						(277,782		)
	Total Assets	$	16,302,580							$	16,067,841
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$	2,474,591		$	2,061		0.17	%	$	2,337,615		$	2,807		0.24	%
	Savings deposits	3,316,827			3,320			0.20	%	3,319,778			6,616			0.40	%
	Time deposits	3,871,636			25,612			1.33	%	4,442,446			35,638			1.62	%
	Total Interest-bearing Deposits	9,663,054			30,993			0.64	%	10,099,839			45,061			0.90	%
	Short-term borrowings	845,001			692			0.16	%	538,786			422			0.16	%
	Federal Home Loan Bank advances and long-term debt	956,310			22,966			4.82	%	1,043,481			24,938			4.80	%
	Total Interest-bearing Liabilities	11,464,365			54,651			0.96	%	11,682,106			70,421			1.21	%
Noninterest-bearing liabilities:
	Demand deposits	2,617,120								2,300,750
	Other	189,631								166,541
	Total Liabilities	14,271,116								14,149,397
	Shareholders' equity	2,031,464								1,918,444
	Total Liabilities and Shareholders' Equity	$	16,302,580							$	16,067,841
	Net interest income/net interest margin (fully taxable equivalent)				284,646			3.81	%				288,173			3.93	%
	Tax equivalent adjustment				(8,421		)						(7,965		)
	Net interest income				$	276,225							$	280,208
(1) Presented on a tax-equivalent basis using a 35% Federal tax rate and statutory interest expense disallowances.

AVERAGE LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
		Six Months ended
		June 30
		2012		2011		% Change
Loans, by type:
	Real estate - commercial mortgage	$	4,625,969	$	4,407,683	5.0	%
	Commercial - industrial, financial and agricultural	3,557,731		3,698,430		(3.8	)%
	Real estate - home equity	1,605,633		1,625,980		(1.3	)%
	Real estate - residential mortgage	1,158,569		1,020,471		13.5	%
	Real estate - construction	640,928		745,912		(14.1	)%
	Consumer	309,331		337,080		(8.2	)%
	Leasing and other	74,177		66,568		11.4	%
	Total Loans, net of unearned income	$	11,972,338	$	11,902,124	0.6	%
Deposits, by type:
	Noninterest-bearing demand	$	2,617,120	$	2,300,750	13.8	%
	Interest-bearing demand	2,474,591		2,337,615		5.9	%
	Savings deposits	3,316,827		3,319,778		(0.1	)%
	Time deposits	3,871,636		4,442,446		(12.8	)%
	Total Deposits	$	12,280,174	$	12,400,589	(1.0	)%
Short-term borrowings, by type:
	Customer repurchase agreements	$	213,379	$	215,307	(0.9	)%
	Customer short-term promissory notes	150,689		181,121		(16.8	)%
	Federal funds purchased and other	480,933		142,358		237.8	%
	Total Short-term borrowings	$	845,001	$	538,786	56.8	%

FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
dollars in thousands
		Quarter Ended									Six Months Ended
		June 30			June 30			Mar 31			June 30
		2012			2011			2012			2012			2012
ALLOWANCE FOR CREDIT LOSSES:
Balance at beginning of period		$	258,137		$	271,156		$	258,177		$	258,177		$	275,498
	Loans charged off:
	Real estate - commercial mortgage	(23,699		)	(7,074		)	(11,891		)	(35,590		)	(17,121		)
	Commercial - industrial, financial and agricultural	(13,017		)	(15,406		)	(5,669		)	(18,686		)	(28,742		)
	Real estate - construction	(8,442		)	(7,468		)	(8,571		)	(17,013		)	(21,362		)
	Real estate - home equity	(2,789		)	(1,650		)	(2,206		)	(4,995		)	(3,118		)
	Real estate - residential mortgage	(1,492		)	(7,707		)	(847		)	(2,339		)	(12,703		)
	Leasing and other	(630		)	(689		)	(441		)	(1,071		)	(1,186		)
	Consumer	(471		)	(681		)	(634		)	(1,105		)	(1,972		)
	Total loans charged off	(50,540		)	(40,675		)	(30,259		)	(80,799		)	(86,204		)
Recoveries of loans charged off:
	Real estate - commercial mortgage	1,153			191			816			1,969			1,726
	Commercial - industrial, financial and agricultural	717			1,003			636			1,353			1,394
	Real estate - construction	1,539			79			64			1,603			642
	Real estate - home equity	278			2			20			298			3
	Real estate - residential mortgage	71			190			73			144			234
	Leasing and other	180			254			260			440			598
	Consumer	281			433			350			631			742
	Recoveries of loans previously charged off	4,219			2,152			2,219			6,438			5,339
Net loans charged off		(46,321		)	(38,523		)	(28,040		)	(74,361		)	(80,865		)
Provision for credit losses		25,500			36,000			28,000			53,500			74,000
Balance at end of period		$	237,316		$	268,633		$	258,137		$	237,316		$	268,633
	Net charge-offs to average loans (annualized)	1.55		%	1.30		%	0.94		%	1.24		%	1.36		%
NON-PERFORMING ASSETS:
	Non-accrual loans	$	203,539		$	274,973		$	248,719
	Loans 90 days past due and accruing	30,434			35,869			35,270
	Total non-performing loans	233,973			310,842			283,989
	Other real estate owned	32,338			37,493			33,516
	Total non-performing assets	$	266,311		$	348,335		$	317,505
NON-PERFORMING LOANS, BY TYPE:
	Real estate - commercial mortgage	$	82,179		$	102,724		$	104,076
	Commercial - industrial, financial and agricultural	67,969			94,855			82,884
	Real estate - construction	43,124			58,381			59,917
	Real estate - residential mortgage	25,373			43,200			23,016
	Real estate - home equity	11,472			9,440			10,914
	Consumer	3,460			2,090			2,834
	Leasing	396			152			348
	Total non-performing loans	$	233,973		$	310,842		$	283,989

DELINQUENCY RATES, BY TYPE:
		June 30, 2012						June 30, 2011						March 31, 2012
		31-89 Days		≥90 Days (1)		Total		31-89 Days		≥90 Days (1)		Total		31-89 Days		≥90 Days (1)		Total
	Real estate - commercial mortgage	0.41	%	1.78	%	2.19	%	0.57	%	2.32	%	2.89	%	0.43	%	2.24	%	2.67	%
	Commercial - industrial, financial and agricultural	0.66	%	1.91	%	2.57	%	0.54	%	2.58	%	3.12	%	0.35	%	2.36	%	2.71	%
	Real estate - construction	0.95	%	6.96	%	7.91	%	0.62	%	8.56	%	9.18	%	0.56	%	9.25	%	9.81	%
	Real estate - residential mortgage	2.94	%	2.15	%	5.09	%	3.37	%	4.22	%	7.59	%	2.76	%	1.96	%	4.72	%
	Real estate - home equity	0.83	%	0.71	%	1.54	%	0.74	%	0.58	%	1.32	%	0.74	%	0.68	%	1.42	%
	Consumer, leasing and other	1.61	%	0.99	%	2.60	%	1.22	%	0.56	%	1.78	%	1.40	%	0.84	%	2.24	%
	Total	0.86	%	1.95	%	2.81	%	0.85	%	2.63	%	3.48	%	0.71	%	2.38	%	3.09	%
	(1) Includes non-accrual loans
ASSET QUALITY RATIOS:
		June 30		June 30		Mar 31
		2012		2011		2012
	Non-accrual loans to total loans	1.70	%	2.32	%	2.08	%
	Non-performing assets to total loans and OREO	2.22	%	2.93	%	2.65	%
	Non-performing assets to total assets	1.63	%	2.18	%	1.92	%
	Allowance for credit losses to loans outstanding	1.98	%	2.27	%	2.16	%
	Allowance for credit losses to non-performing loans	101.43	%	86.42	%	90.90	%
	Non-performing assets to tangible common shareholders' equity and allowance for credit losses	15.34	%	20.78	%	18.27	%