Fulton Financial 8K reports 2015 earnings | FULT 19 Jan 16



Exhibit 99.2

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
dollars in thousands
											% Change from
		December 31			December 31			September 30			December 31		September
		2015			2014			2015			2014		2015
ASSETS
	Cash and due from banks	$	101,120		$	105,702		$	93,803		(4.3	)%	7.8	%
	Other interest-earning assets	292,516			423,083			579,920			(30.9	)%	(49.6	)%
	Loans held for sale	16,886			17,522			26,937			(3.6	)%	(37.3	)%
	Investment securities	2,484,773			2,323,371			2,436,337			6.9	%	2.0	%
	Loans, net of unearned income	13,838,602			13,111,716			13,536,361			5.5	%	2.2	%
	Allowance for loan losses	(169,054		)	(184,144		)	(167,136		)	(8.2	)%	1.1	%
	Net loans	13,669,548			12,927,572			13,369,225			5.7	%	2.2	%
	Premises and equipment	225,535			226,027			225,705			(0.2	)%	(0.1	)%
	Accrued interest receivable	42,767			41,818			42,846			2.3	%	(0.2	)%
	Goodwill and intangible assets	531,556			531,803			531,562			—	%	—	%
	Other assets	550,017			527,869			531,724			4.2	%	3.4	%
	Total Assets	$	17,914,718		$	17,124,767		$	17,838,059		4.6	%	0.4	%
LIABILITIES AND SHAREHOLDERS' EQUITY
	Deposits	$	14,132,317		$	13,367,506		$	14,084,394		5.7	%	0.3	%
	Short-term borrowings	497,663			329,719			431,631			50.9	%	15.3	%
	Other liabilities	293,302			291,464			316,697			0.6	%	(7.4	)%
	FHLB advances and long-term debt	949,542			1,139,413			979,433			(16.7	)%	(3.1	)%
	Total Liabilities	15,872,824			15,128,102			15,812,155			4.9	%	0.4	%
	Shareholders' equity	2,041,894			1,996,665			2,025,904			2.3	%	0.8	%
	Total Liabilities and Shareholders' Equity	$	17,914,718		$	17,124,767		$	17,838,059		4.6	%	0.4	%

LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
Loans, by type:
	Real estate - commercial mortgage	$	5,462,330		$	5,197,155		$	5,339,928		5.1	%	2.3	%
	Commercial - industrial, financial and agricultural	4,088,962			3,725,567			3,929,908			9.8	%	4.0	%
	Real estate - home equity	1,684,439			1,736,688			1,693,649			(3.0	)%	(0.5	)%
	Real estate - residential mortgage	1,376,160			1,377,068			1,382,085			(0.1	)%	(0.4	)%
	Real estate - construction	799,988			690,601			769,565			15.8	%	4.0	%
	Consumer	268,588			265,431			271,696			1.2	%	(1.1	)%
	Leasing and other	158,135			119,206			149,530			32.7	%	5.8	%
	Total Loans, net of unearned income	$	13,838,602		$	13,111,716		$	13,536,361		5.5	%	2.2	%
Deposits, by type:
	Noninterest-bearing demand	$	3,948,114		$	3,640,623		$	3,906,228		8.4	%	1.1	%
	Interest-bearing demand	3,451,207			3,150,612			3,362,336			9.5	%	2.6	%
	Savings deposits	3,868,046			3,504,820			3,880,103			10.4	%	(0.3	)%
	Time deposits	2,864,950			3,071,451			2,935,727			(6.7	)%	(2.4	)%
	Total Deposits	$	14,132,317		$	13,367,506		$	14,084,394		5.7	%	0.3	%
Short-term borrowings, by type:
	Customer repurchase agreements	$	111,496		$	158,394		$	145,225		(29.6	)%	(23.2	)%
	Customer short-term promissory notes	78,932			95,106			80,879			(17.0	)%	(2.4	)%
	Short-term FHLB advances	110,000			70,000			200,000			57.1	%	(45.0	)%
	Federal funds purchased	197,235			6,219			5,527			N/M		N/M
	Total Short-term Borrowings	$	497,663		$	329,719		$	431,631		50.9	%	15.3	%


N/M - Not meaningful



FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
in thousands, except per-share data and percentages
		Three Months Ended									% Change from				Year ended
		December 31			December 31			September 30			Dec 31		Sep 30		December 31
		2015			2014			2015			2014		2015		2015			2014			% Change
Interest Income:
	Interest income	$	147,560		$	149,594		$	146,228		(1.4	)%	0.9	%	$	583,789		$	596,078		(2.1	)%
	Interest expense	19,761			21,556			20,534			(8.3	)%	(3.8	)%	83,795			81,211			3.2	%
	Net Interest Income	127,799			128,038			125,694			(0.2	)%	1.7	%	499,994			514,867			(2.9	)%
	Provision for credit losses	2,750			3,000			1,000			(8.3	)%	175.0	%	2,250			12,500			N/M
	Net Interest Income after Provision	125,049			125,038			124,694			—	%	0.3	%	497,744			502,367			(0.9	)%
Non-Interest Income:
	Service charges on deposit accounts	12,909			12,229			12,982			5.6	%	(0.6	)%	50,097			49,293			1.6	%
	Other service charges and fees	12,676			10,489			10,965			20.9	%	15.6	%	43,992			39,896			10.3	%
	Investment management and trust services	10,919			11,188			11,237			(2.4	)%	(2.8	)%	44,056			44,605			(1.2	)%
	Mortgage banking income	4,317			3,723			3,864			16.0	%	11.7	%	18,208			17,107			6.4	%
	Investment securities gains	776			848			1,730			(8.5	)%	(55.1	)%	9,066			2,041			N/M
	Other	4,242			3,624			3,996			17.1	%	6.2	%	16,420			14,437			13.7	%
	Total Non-Interest Income	45,839			42,101			44,774			8.9	%	2.4	%	181,839			167,379			8.6	%
Non-Interest Expense:
	Salaries and employee benefits	65,467			65,398			65,308			0.1	%	0.2	%	260,832			251,021			3.9	%
	Net occupancy expense	11,566			11,481			10,710			0.7	%	8.0	%	47,777			48,130			(0.7	)%
	Other outside services	6,537			8,720			7,373			(25.0	)%	(11.3	)%	27,785			28,404			(2.2	)%
	Data processing	5,127			4,346			5,105			18.0	%	0.4	%	19,894			17,162			15.9	%
	Software	4,068			3,271			3,984			24.4	%	2.1	%	14,746			12,758			15.6	%
	Equipment expense	3,626			3,298			3,595			9.9	%	0.9	%	14,514			13,567			7.0	%
	FDIC insurance expense	2,896			2,772			2,867			4.5	%	1.0	%	11,470			10,958			4.7	%
	Professional fees	2,814			2,382			2,828			18.1	%	(0.5	)%	11,244			12,097			(7.1	)%
	Marketing	1,754			2,414			2,102			(27.3	)%	(16.6	)%	7,324			8,133			(9.9	)%
	OREO and repossession expense	1,123			236			1,016			N/M		10.5	%	3,630			3,270			11.0	%
	Operating risk loss	987			485			1,136			N/M		(13.1	)%	3,624			4,271			(15.1	)%
	Intangible amortization	6			315			5			(98.1	)%	20.0	%	247			1,259			(80.4	)%
	Loss on redemption of trust preferred securities	—			—			5,626			N/M		N/M		5,626			—			N/M
	Other	12,468			12,602			13,234			(1.1	)%	(5.8	)%	51,447			48,216			6.7	%
	Total Non-Interest Expense	118,439			117,720			124,889			0.6	%	(5.2	)%	480,160			459,246			4.6	%
	Income Before Income Taxes	52,449			49,419			44,579			6.1	%	17.7	%	199,423			210,500			(5.3	)%
	Income tax expense	13,914			11,470			10,328			21.3	%	34.7	%	49,921			52,606			(5.1	)%
	Net Income	$	38,535		$	37,949		$	34,251		1.5	%	12.5	%	$	149,502		$	157,894		(5.3	)%

PER SHARE:
	Net income:
	Basic	$	0.22		$	0.21		$	0.20		4.8	%	10.0	%	$	0.85		$	0.85		—	%
	Diluted	0.22			0.21			0.20			4.8	%	10.0	%	0.85			0.84			1.2	%

	Cash dividends	$	0.09		$	0.10		$	0.09		(10.0	)%	—	%	$	0.36		$	0.34		5.9	%
	Shareholders' equity	11.72			11.16			11.66			5.0	%	0.5	%	11.72			11.16			5.0	%
	Shareholders' equity (tangible)	8.67			8.19			8.60			5.9	%	0.8	%	8.67			8.19			5.9	%

	Weighted average shares (basic)	173,709			181,251			174,338			(4.2	)%	(0.4	)%	175,721			186,219			(5.6	)%
	Weighted average shares (diluted)	174,833			182,189			175,342			(4.0	)%	(0.3	)%	176,774			187,181			(5.6	)%
	Shares outstanding, end of period	174,176			178,924			173,771			(2.7	)%	0.2	%	174,176			178,924			(2.7	)%

SELECTED FINANCIAL RATIOS:
	Return on average assets	0.86		%	0.88		%	0.78		%					0.86		%	0.93		%
	Return on average shareholders' equity	7.51		%	7.34		%	6.72		%					7.38		%	7.62		%
	Return on average shareholders' equity (tangible)	10.16		%	9.96		%	9.11		%					10.01		%	10.31		%
	Net interest margin	3.19		%	3.31		%	3.18		%					3.21		%	3.39		%
	Efficiency ratio	66.63		%	67.53		%	68.82		%					68.61		%	65.65		%
N/M - Not meaningful



FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Three Months Ended
		December 31, 2015								December 31, 2014							September 30, 2015
		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	$	13,659,266		$	136,317		3.96%		$	13,056,153		$	136,636		4.16%	$	13,369,874		$	135,268		4.02%
	Taxable investment securities	2,170,397			11,801			2.17%		2,109,884			12,689			2.40%	2,148,403			11,252			2.09%
	Tax-exempt investment securities	246,727			3,085			5.00%		241,711			3,249			5.38%	230,178			2,929			5.09%
	Equity securities	15,524			208			5.33%		33,981			442			5.16%	18,280			257			5.58%
	Total Investment Securities	2,432,648			15,094			2.48%		2,385,576			16,380			2.74%	2,396,861			14,438			2.41%
	Loans held for sale	15,713			169			4.31%		15,340			201			5.24%	20,704			194			3.74%
	Other interest-earning assets	399,309			864			0.86%		464,342			953			0.82%	477,145			884			0.74%
	Total Interest-earning Assets	16,506,936			152,444			3.67%		15,921,411			154,170			3.85%	16,264,584			150,784			3.68%
Noninterest-earning assets:
	Cash and due from banks	106,810								110,292							104,622
	Premises and equipment	226,335								224,516							226,446
	Other assets	1,108,094								1,073,302							1,097,600
	Less: allowance for loan losses	(169,251		)						(189,029		)					(168,770		)
	Total Assets	$	17,778,924							$	17,140,492						$	17,524,482
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$	3,411,904		$	1,207		0.13%		$	3,145,658		$	1,027		0.13%	$	3,316,532		$	1,122		0.13%
	Savings deposits	3,903,741			1,633			0.17%		3,548,504			1,171			0.13%	3,714,282			1,436			0.15%
	Time deposits	2,903,715			7,549			1.03%		3,016,834			7,333			0.96%	2,963,774			7,659			1.03%
	Total Interest-bearing Deposits	10,219,360			10,389			0.40%		9,710,996			9,531			0.39%	9,994,588			10,217			0.41%
	Short-term borrowings	281,497			100			0.14%		417,838			138			0.13%	324,685			92			0.11%
	FHLB advances and long-term debt	950,792			9,272			3.88%		1,086,321			11,887			4.36%	996,247			10,225			4.09%
	Total Interest-bearing Liabilities	11,451,649			19,761			0.69%		11,215,155			21,556			0.76%	11,315,520			20,534			0.72%
Noninterest-bearing liabilities:
	Demand deposits	3,999,118								3,630,780							3,904,176
	Other	291,388								242,346							281,957
	Total Liabilities	15,742,155								15,088,281							15,501,653
	Shareholders' equity	2,036,769								2,052,211							2,022,829
	Total Liabilities and Shareholders' Equity	$	17,778,924							$	17,140,492						$	17,524,482
	Net interest income/net interest margin (fully taxable equivalent)				132,683			3.19%					132,614			3.31%				130,250			3.18%
	Tax equivalent adjustment				(4,884		)						(4,576		)					(4,556		)
	Net interest income				$	127,799							$	128,038						$	125,694

	(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:
		Three Months Ended								% Change from
		December 31			December 31			September 30		December 31			September 30
		2015			2014			2015		2014			2015
Loans, by type:
	Real estate - commercial mortgage	$	5,365,640		$	5,131,375		$	5,242,021	4.6		%	2.4		%
	Commercial - industrial, financial and agricultural	4,035,287			3,723,211			3,887,161		8.4		%	3.8		%
	Real estate - home equity	1,694,455			1,735,769			1,692,860		(2.4		)%	0.1		%
	Real estate - residential mortgage	1,377,116			1,378,452			1,381,141		(0.1		)%	(0.3		)%
	Real estate - construction	765,555			697,741			753,584		9.7		%	1.6		%
	Consumer	267,726			275,349			270,391		(2.8		)%	(1.0		)%
	Leasing and other	153,487			114,256			142,716		34.3		%	7.5		%
	Total Loans, net of unearned income	$	13,659,266		$	13,056,153		$	13,369,874	4.6		%	2.2		%
Deposits, by type:
	Noninterest-bearing demand	$	3,999,118		$	3,630,780		$	3,904,176	10.1		%	2.4		%
	Interest-bearing demand	3,411,904			3,145,658			3,316,532		8.5		%	2.9		%
	Savings deposits	3,903,741			3,548,504			3,714,282		10.0		%	5.1		%
	Time deposits	2,903,715			3,016,834			2,963,774		(3.7		)%	(2.0		)%
	Total Deposits	$	14,218,478		$	13,341,776		$	13,898,764	6.6		%	2.3		%
Short-term borrowings, by type:
	Customer repurchase agreements	$	142,004		$	183,331		$	149,415	(22.5		)%	(5.0		)%
	Customer short-term promissory notes	80,568			87,338			79,308		(7.8		)%	1.6		%
	Federal funds purchased	44,468			59,669			85,092		(25.5		)%	(47.7		)%
	Short-term FHLB advances and other borrowings	14,457			87,500			10,870		(83.5		)%	33.0		%
	Total Short-term Borrowings	$	281,497		$	417,838		$	324,685	(32.6		)%	(13.3		)%



FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Year Ended December 31
		2015								2014
		Average								Average
		Balance			Interest (1)			Yield/Rate		Balance			Interest (1)			Yield/Rate
ASSETS

Interest-earning assets:
	Loans, net of unearned income	$	13,330,973		$	537,979		4.04	%	$	12,885,180		$	542,540		4.21	%
	Taxable investment securities	2,093,829			45,279			2.16	%	2,189,510			50,651			2.31	%
	Tax-exempt investment securities	230,633			12,120			5.26	%	261,825			13,810			5.27	%
	Equity securities	23,348			1,294			5.54	%	33,957			1,728			5.09	%
	Total Investment Securities	2,347,810			58,693			2.50	%	2,485,292			66,189			2.66	%
	Loans held for sale	19,937			801			4.02	%	17,524			786			4.49	%
	Other interest-earning assets	447,354			4,786			1.07	%	314,345			4,018			1.28	%
	Total Interest-earning Assets	16,146,074			602,259			3.73	%	15,702,341			613,533			3.91	%

Noninterest-earning assets:
	Cash and due from banks	105,359								177,664
	Premises and equipment	226,436								224,903
	Other assets	1,103,427								1,049,765
	Less: allowance for loan losses	(174,453		)						(195,166		)
	Total Assets	$	17,406,843							$	16,959,507

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-bearing liabilities:
	Demand deposits	$	3,255,192		$	4,299		0.13	%	$	3,013,879		$	3,793		0.13	%
	Savings deposits	3,677,079			5,435			0.15	%	3,431,957			4,298			0.13	%
	Time deposits	2,988,648			30,748			1.03	%	2,992,920			27,019			0.90	%
	Total Interest-bearing Deposits	9,920,919			40,482			0.41	%	9,438,756			35,110			0.37	%

	Short-term borrowings	323,772			372			0.11	%	832,839			1,608			0.19	%
	FHLB advances and long-term debt	1,023,972			42,941			4.19	%	965,601			44,493			4.61	%
	Total Interest-bearing Liabilities	11,268,663			83,795			0.74	%	11,237,196			81,211			0.72	%

Noninterest-bearing liabilities:
	Demand deposits	3,826,194								3,428,907
	Other	285,103								221,764
	Total Liabilities	15,379,960								14,887,867
	Shareholders' equity	2,026,883								2,071,640

	Total Liabilities and Shareholders' Equity	$	17,406,843							$	16,959,507

	Net interest income/net interest margin (fully taxable equivalent)				518,464			3.21	%				532,322			3.39	%
	Tax equivalent adjustment				(18,470		)						(17,455		)

	Net interest income				$	499,994							$	514,867

(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:

		Year Ended
		December 31
		2015			2014			% Change
Loans, by type:
	Real estate - commercial mortgage	$	5,246,054		$	5,117,433		2.5	%
	Commercial - industrial, financial and agricultural	3,882,998			3,659,059			6.1	%
	Real estate - home equity	1,700,851			1,738,449			(2.2	)%
	Real estate - residential mortgage	1,371,321			1,355,876			1.1	%
	Real estate - construction	726,914			631,968			15.0	%
	Consumer	265,688			277,853			(4.4	)%
	Leasing and other	137,147			104,542			31.2	%
	Total Loans, net of unearned income	$	13,330,973		$	12,885,180		3.5	%

Deposits, by type:
	Noninterest-bearing demand	$	3,826,194		$	3,428,907		11.6	%
	Interest-bearing demand	3,255,192			3,013,879			8.0	%
	Savings deposits	3,677,079			3,431,957			7.1	%
	Time deposits	2,988,648			2,992,920			(0.1	)%

	Total Deposits	$	13,747,113		$	12,867,663		6.8	%

Short-term borrowings, by type:
	Customer repurchase agreements	$	161,093		$	197,432		(18.4	)%
	Customer short-term promissory notes	81,530			88,670			(8.1	)%
	Federal funds purchased	65,779			285,169			(76.9	)%
	Short-term FHLB advances and other borrowings	15,370			261,568			(94.1	)%
	Total Short-term Borrowings	$	323,772		$	832,839		(61.1	)%



FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
dollars in thousands
		Three Months Ended									Year Ended
		Dec 31			Dec 31			Sep 30			Dec 31
		2015			2014			2015			2015			2014
ALLOWANCE FOR CREDIT LOSSES:
Balance at beginning of period		$	169,395		$	191,108		$	169,453		$	185,931		$	204,917
	Loans charged off:
	Consumer and home equity	(1,466		)	(1,696		)	(1,590		)	(5,831		)	(7,811		)
	Real estate - commercial mortgage	(1,207		)	(920		)	(660		)	(4,218		)	(6,004		)
	Commercial - industrial, financial and agricultural	(970		)	(8,712		)	(1,640		)	(15,639		)	(24,516		)
	Real estate - residential mortgage	(513		)	(752		)	(1,035		)	(3,612		)	(2,918		)
	Real estate - construction	—			(464		)	(114		)	(201		)	(1,209		)
	Leasing and other	(1,304		)	(701		)	(522		)	(2,656		)	(2,135		)
	Total loans charged off	(5,460		)	(13,245		)	(5,561		)	(32,157		)	(44,593		)
Recoveries of loans previously charged off:
	Consumer and home equity	825			419			618			2,492			2,347
	Real estate - commercial mortgage	1,072			319			842			2,801			1,960
	Commercial - industrial, financial and agricultural	1,409			1,724			1,598			5,264			4,256
	Real estate - residential mortgage	775			132			201			1,322			451
	Real estate - construction	548			2,325			898			2,824			3,177
	Leasing and other	98			149			346			685			916
	Recoveries of loans previously charged off	4,727			5,068			4,503			15,388			13,107
Net loans charged off		(733		)	(8,177		)	(1,058		)	(16,769		)	(31,486		)
Provision for credit losses		2,750			3,000			1,000			2,250			12,500
Balance at end of period		$	171,412		$	185,931		$	169,395		$	171,412		$	185,931
Net charge-offs to average loans (annualized)		0.02		%	0.25		%	0.03		%	0.13		%	0.24		%
NON-PERFORMING ASSETS:
	Non-accrual loans	$	129,523		$	121,080		$	132,154
	Loans 90 days past due and accruing	15,291			17,402			12,867
	Total non-performing loans	144,814			138,482			145,021
	Other real estate owned	11,099			12,022			10,561
	Total non-performing assets	$	155,913		$	150,504		$	155,582
NON-PERFORMING LOANS, BY TYPE:
	Commercial - industrial, financial and agricultural	$	44,071		$	30,388		$	38,032
	Real estate - commercial mortgage	41,170			45,237			49,021
	Real estate - residential mortgage	28,484			28,995			27,707
	Consumer and home equity	17,123			17,330			15,186
	Real estate - construction	12,460			16,399			14,989
	Leasing	1,506			133			86
	Total non-performing loans	$	144,814		$	138,482		$	145,021
TROUBLED DEBT RESTRUCTURINGS (TDRs), BY TYPE:
	Real-estate - residential mortgage	$	28,511		$	31,308		$	29,330
	Real-estate - commercial mortgage	17,563			18,822			17,282
	Commercial - industrial, financial and agricultural	5,953			5,237			7,399
	Real estate - construction	3,942			9,241			4,363
	Consumer and home equity	4,589			3,013			3,983
	Total accruing TDRs	$	60,558		$	67,621		$	62,357
	Non-accrual TDRs (1)	31,035			24,616			27,618
	Total TDRs	$	91,593		$	92,237		$	89,975
(1) Included within non-accrual loans above.





DELINQUENCY RATES, BY TYPE:
		December 31, 2015						December 31, 2014						September 30, 2015
		31-89 Days		≥90 Days (2)		Total		31-89 Days		≥90 Days (2)		Total		31-89 Days		≥90 Days (2)		Total

	Real estate - commercial mortgage	0.14	%	0.77	%	0.91	%	0.35	%	0.87	%	1.22	%	0.16	%	0.92	%	1.08	%
	Commercial - industrial, financial and agricultural	0.21	%	1.06	%	1.27	%	0.17	%	0.81	%	0.98	%	0.35	%	0.97	%	1.32	%
	Real estate - construction	0.28	%	1.59	%	1.87	%	0.02	%	2.38	%	2.40	%	0.30	%	1.95	%	2.25	%
	Real estate - residential mortgage	1.33	%	2.07	%	3.40	%	1.96	%	2.10	%	4.06	%	1.27	%	2.00	%	3.27	%
	Consumer, home equity, leasing and other	0.70	%	0.88	%	1.58	%	0.80	%	0.82	%	1.62	%	0.69	%	0.72	%	1.41	%
	Total	0.37	%	1.04	%	1.41	%	0.52	%	1.06	%	1.58	%	0.42	%	1.07	%	1.49	%
(2) Includes non-accrual loans

ASSET QUALITY RATIOS:
		Dec 31		Dec 31		Sep 30
		2015		2014		2015
	Non-accrual loans to total loans	0.94	%	0.92	%	0.98	%
	Non-performing loans to total loans	1.05	%	1.06	%	1.07	%
	Non-performing assets to total loans and OREO	1.13	%	1.15	%	1.15	%
	Non-performing assets to total assets	0.87	%	0.88	%	0.87	%
	Allowance for credit losses to loans outstanding	1.24	%	1.42	%	1.25	%
	Allowance for credit losses to non-performing loans	118.37	%	134.26	%	116.81	%
	Non-performing assets to tangible common shareholders' equity and allowance for credit losses	9.27	%	9.12	%	9.35	%



FULTON FINANCIAL CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP MEASURES (UNAUDITED)
in thousands, except per share data and percentages

Explanatory note:	This press release contains certain 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 quarterly 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									Year Ended
		Dec 31			Dec 31			Sep 30			Dec 31			Dec 31
		2015			2014			2015			2015			2014
Shareholders' equity (tangible), per share
Shareholders' equity		$	2,041,894		$	1,996,665		$	2,025,904
Less: Goodwill and intangible assets		(531,556		)	(531,803		)	(531,562		)
Tangible shareholders' equity (numerator)		$	1,510,338		$	1,464,862		$	1,494,342
Shares outstanding, end of period (denominator)		174,176			178,924			173,771
Shareholders' equity (tangible), per share		$	8.67		$	8.19		$	8.60

Return on average common shareholders' equity (tangible)
Net income		$	38,535		$	37,949		$	34,251		$	149,502		$	157,894
Plus: Intangible amortization, net of tax		4			205			3			161			818
Numerator		$	38,539		$	38,154		$	34,254		$	149,663		$	158,712

Average shareholders' equity		$	2,036,769		$	2,052,211		$	2,022,829		$	2,026,883		$	2,071,640
Less: Average goodwill and intangible assets		(531,559		)	(531,955		)	(531,564		)	(531,618		)	(532,425		)
Average tangible shareholders' equity (denominator)		$	1,505,210		$	1,520,256		$	1,491,265		$	1,495,265		$	1,539,215
Return on average common shareholders' equity (tangible), annualized		10.16		%	9.96		%	9.11		%	10.01		%	10.31		%

Efficiency ratio
Non-interest expense		$	118,439		$	117,720		$	124,889		$	480,160		$	459,246
Less: Intangible amortization		(6		)	(315		)	(5		)	(247		)	(1,259		)
Less: Loss on redemption of trust preferred securities		—			—			(5,626		)	(5,626		)	—
Numerator		$	118,433		$	117,405		$	119,258		$	474,287		$	457,987

Net interest income (fully taxable equivalent)		$	132,683		$	132,614		$	130,250		$	518,464		$	532,322
Plus: Total Non-interest income		45,839			42,101			44,774			181,839			167,379
Less: Investment securities gains		(776		)	(848		)	(1,730		)	(9,066		)	(2,041		)
Denominator		$	177,746		$	173,867		$	173,294		$	691,237		$	697,660
Efficiency ratio		66.63		%	67.53		%	68.82		%	68.61		%	65.65		%

Non-performing assets to tangible common shareholders' equity and allowance for credit losses
Non-performing assets (numerator)		$	155,913		$	150,504		$	155,582

Tangible shareholders' equity		$	1,510,338		$	1,464,862		$	1,494,342
Plus: Allowance for credit losses		171,412			185,931			169,395
Tangible shareholders' equity and allowance for credit losses (denominator)		$	1,681,750		$	1,650,793		$	1,663,737
Non-performing assets to tangible common shareholders' equity and allowance for credit losses		9.27		%	9.12		%	9.35		%

Fulton Financial (FULT) 8-KFulton Financial reports 2015 earnings