Fulton Financial (FULT) 8-K/A Fulton Financial Responds to the COVID-19 Pandemic, “It’s Personal”, and Announces First quarter Earnings

FULTON FINANCIAL CORPORATION
SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
in thousands, except per-share data and percentages
	Three Months Ended
	Mar 31			Dec 31			Sep 30			Jun 30			Mar 31
	2020			2019			2019			2019			2019
Ending Balances
Investments	$	3,141,440		$	2,867,378		$	2,705,610		$	2,853,358		$	2,748,249
Loans, net of unearned income	17,077,403			16,837,526			16,686,866			16,368,458			16,262,633
Total assets	22,929,859			21,886,040			21,703,618			21,308,670			20,974,649
Deposits	17,365,026			17,393,913			17,342,717			16,388,895			16,377,978
Shareholders' equity	2,285,748			2,342,176			2,324,016			2,308,798			2,301,019
Average Balances
Investments	$	3,071,828		$	2,830,999		$	2,829,672		$	2,790,392		$	2,699,130
Loans, net of unearned income	16,860,067			16,768,057			16,436,507			16,316,076			16,194,375
Total assets	22,252,099			21,812,438			21,457,800			21,057,030			20,690,365
Deposits	17,121,427			17,449,565			16,950,667			16,375,457			16,275,633
Shareholders' equity	2,337,016			2,341,397			2,315,585			2,301,258			2,265,097
Income Statement
Net interest income	$	160,746		$	159,270		$	161,260		$	164,544		$	163,315
Provision for credit losses	44,030			20,530			2,170			5,025			5,100
Non-interest income	54,644			55,281			59,813			54,316			46,751
Non-interest expense	142,552			138,974			146,770			144,168			137,824
Income before taxes	28,808			55,047			72,133			69,667			67,142
Net income	26,047			47,789			62,108			59,780			56,663
Pre-provision net revenue(1)	74,374			77,224			76,741			76,114			73,775
Per Share
Net income (basic)	$	0.16		$	0.29		$	0.38		$	0.36		$	0.33
Net income (diluted)	$	0.16		$	0.29		$	0.37		$	0.35		$	0.33
Cash dividends	$	0.13		$	0.17		$	0.13		$	0.13		$	0.13
Tangible common equity(1)	10.84			11.00			10.91			10.63			10.39
Weighted average shares (basic)	163,475			164,135			165,324			168,343			169,884
Weighted average shares (diluted)	164,417			165,039			166,126			169,168			170,909
Asset Quality(2)
Net charge-offs (recoveries) to average loans (annualized)	0.26		%	0.65		%	0.15		%	(0.04)		%	0.10		%
Non-performing loans to total loans	0.82		%	0.84		%	0.81		%	0.90		%	0.85		%
Non-performing assets to total assets	0.64		%	0.68		%	0.66		%	0.73		%	0.70		%
ACL - loans(3) to loans outstanding	1.40		%	0.97		%	1.00		%	1.04		%	1.00		%
ACL - loans(3) to non-performing loans	170		%	116		%	122		%	115		%	117		%
Non-performing assets to tangible shareholders' equity      and ACL - loans (1)(3)	7.37		%	7.51		%	7.35		%	7.97		%	7.66		%

Profitability
Return on average assets	0.47	%	0.87	%	1.15	%	1.14	%	1.11	%
Return on average shareholders' equity	4.48	%	8.10	%	10.64	%	10.42	%	10.15	%
Return on average shareholders' equity (tangible)(1)	5.84	%	10.52	%	14.03	%	13.60	%	13.28	%
Net interest margin	3.21	%	3.22	%	3.31	%	3.44	%	3.49	%
Efficiency ratio(1)	64.5	%	63.1	%	63.6	%	64.2	%	63.9	%
Capital Ratios
Tangible common equity ratio(1)	7.8	%	8.5	%	8.5	%	8.5	%	8.6	%
Tier 1 leverage ratio(4)	7.9	%	8.4	%	8.5	%	8.7	%	8.9	%
Common equity Tier 1 capital ratio(4)	9.4	%	9.7	%	9.6	%	10.0	%	10.2	%
Tier 1 capital ratio(4)	9.4	%	9.7	%	9.6	%	10.0	%	10.2	%
Total risk-based capital ratio(4)	13.8	%	11.8	%	12.0	%	12.4	%	12.6	%
(1) Please refer to the calculation on the page titled “Reconciliation of Non-GAAP Measures” at the end of this document.
(2) Effective January 1, 2020, Fulton adopted Accounting Standards Update 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” referred to as the current expected credit loss model (“CECL”). This accounting standard requires that credit losses for financial assets and off-balance-sheet ("OBS") credit exposures be measured based on expected credit losses, rather than on incurred credit losses as in prior periods.
(3) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Loans, net of unearned income" and does not include the ACL related to OBS credit exposures.
(4) Regulatory capital ratios as of March 31, 2020 are preliminary and prior periods are actual.

Exhibit 99.2
FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
dollars in thousands
												% Change from
		Mar 31		Dec 31		Sep 30		Jun 30		Mar 31		Dec 31		Mar 31
		2020		2019		2019		2019		2019		2019		2019
ASSETS
	Cash and due from banks	$	181,777	$	132,283	$	120,671	$	107,091	$	115,884	37.4	%	56.9	%
	Other interest-earning assets	793,572		482,930		572,499		488,968		411,037		64.3	%	93.1	%
	Loans held for sale	40,645		37,828		33,945		45,754		27,768		7.4	%	46.4	%
	Investment securities	3,141,440		2,867,378		2,705,610		2,853,358		2,748,249		9.6	%	14.3	%
	Loans, net of unearned income	17,077,403		16,837,526		16,686,866		16,368,458		16,262,633		1.4	%	5.0	%
	ACL - loans, net of unearned income(1)	(238,508)		(163,622)		(166,135)		(170,233)		(162,109)		45.8	%	47.1	%
	Net loans	16,838,895		16,673,904		16,520,731		16,198,225		16,100,524		1.0	%	4.6	%
	Premises and equipment	236,908		240,046		237,344		243,300		239,004		(1.3)	%	(0.9)	%
	Accrued interest receivable	59,365		60,898		60,447		62,984		62,207		(2.5)	%	(4.6)	%
	Goodwill and intangible assets	535,171		535,303		534,178		535,249		535,356		—	%	—	%
	Other assets	1,102,086		855,470		918,193		773,741		734,620		28.8	%	50.0	%
	Total Assets	$	22,929,859	$	21,886,040	$	21,703,618	$	21,308,670	$	20,974,649	4.8	%	9.3	%
LIABILITIES AND SHAREHOLDERS' EQUITY
	Deposits	$	17,365,026	$	17,393,913	$	17,342,717	$	16,388,895	$	16,377,978	(0.2)	%	6.0	%
	Short-term borrowings	1,386,808		883,241		832,860		1,188,390		829,016		57.0	%	67.3	%
	Other liabilities	513,811		384,941		477,311		435,171		401,324		33.5	%	28.0	%
	FHLB advances and long-term debt	1,378,466		881,769		726,714		987,416		1,065,312		56.3	%	29.4	%
	Total Liabilities	20,644,111		19,543,864		19,379,602		18,999,872		18,673,630		5.6	%	10.6	%
	Shareholders' equity	2,285,748		2,342,176		2,324,016		2,308,798		2,301,019		(2.4)	%	(0.7)	%
	Total Liabilities and Shareholders' Equity	$	22,929,859	$	21,886,040	$	21,703,618	$	21,308,670	$	20,974,649	4.8	%	9.3	%
LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
Loans, by type:
	Real estate - commercial mortgage	$	6,895,069	$	6,700,776	$	6,604,634	$	6,497,973	$	6,428,688	2.9	%	7.3	%
	Commercial and industrial	4,451,239		4,446,701		4,494,496		4,365,248		4,429,538		0.1	%	0.5	%
	Real estate - residential mortgage	2,718,290		2,641,465		2,570,793		2,451,966		2,313,908		2.9	%	17.5	%
	Real estate - home equity	1,292,677		1,314,944		1,346,115		1,386,974		1,413,500		(1.7)	%	(8.5)	%
	Real estate - construction	947,768		971,079		913,644		922,547		953,087		(2.4)	%	(0.6)	%
	Consumer	468,172		463,164		464,213		452,874		433,545		1.1	%	8.0	%
	Equipment lease financing and other	304,188		299,397		292,971		290,876		290,367		1.6	%	4.8	%
	Total Loans, net of unearned income	$	17,077,403	$	16,837,526	$	16,686,866	$	16,368,458	$	16,262,633	1.4	%	5.0	%
Deposits, by type:
	Noninterest-bearing demand	$	4,531,872	$	4,453,324	$	4,240,478	$	4,226,404	$	4,255,043	1.8	%	6.5	%
	Interest-bearing demand	4,724,520		4,720,188		4,771,109		4,083,615		4,207,442		0.1	%	12.3	%
	Savings and money market accounts	5,092,865		5,153,941		5,094,387		4,938,998		4,907,346		(1.2)	%	3.8	%
	Total demand and savings	14,349,257		14,327,453		14,105,974		13,249,017		13,369,831		0.2	%	7.3	%
	Brokered deposits	313,337		264,531		256,870		246,116		251,395		18.5	%	24.6	%
	Time deposits	2,702,432		2,801,929		2,979,873		2,893,762		2,756,752		(3.6)	%	(2.0)	%
	Total Deposits	$	17,365,026	$	17,393,913	$	17,342,717	$	16,388,895	$	16,377,978	(0.2)	%	6.0	%
Short-term borrowings, by type:
	Customer repurchase agreements	$	52,919	$	56,707	$	58,853	$	56,496	$	54,440	(6.7)	%	(2.8)	%
	Customer short-term promissory notes	408,889		326,534		279,007		281,894		299,576		25.2	%	36.5	%
	Short-term FHLB advances	725,000		500,000		475,000		650,000		475,000		45.0	%	52.6	%
	Federal funds purchased	200,000		—		20,000		200,000		—		N/M		N/M
	Total Short-term Borrowings	$	1,386,808	$	883,241	$	832,860	$	1,188,390	$	829,016	57.0	%	67.3	%
N/M - Not meaningful
(1) "ACL - loans" relates to the ACL specifically on "Loans, net of unearned income" and does not include the ACL related to OBS credit exposures.

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
dollars in thousands
		Three Months Ended														% Change from
		Mar 31		Dec 31		Sep 30		Jun 30		Mar 31		Dec 31		Mar 31
		2020		2019		2019		2019		2019		2019		2019
Interest Income:
	Interest income	$	199,378	$	202,159	$	208,413	$	210,034	$	204,700	(1.4)	%	(2.6)	%
	Interest expense	38,632		42,889		47,153		45,490		41,385		(9.9)	%	(6.7)	%
	Net Interest Income	160,746		159,270		161,260		164,544		163,315		0.9	%	(1.6)	%
	Provision for credit losses	44,030		20,530		2,170		5,025		5,100		114.5	%	N/M
	Net Interest Income after Provision	116,716		138,740		159,090		159,519		158,215		(15.9)	%	(26.2)	%
Non-Interest Income:
	Wealth management	15,055		14,419		13,867		14,153		13,239		4.4	%	13.7	%
	Mortgage banking	6,234		5,076		6,658		6,593		4,772		22.8	%	30.6	%
	Consumer banking income:
	Card	4,685		4,991		5,791		5,047		4,686		(6.1)	%	—	%
	Overdraft	4,058		4,750		4,682		4,413		4,104		(14.6)	%	(1.1)	%
	Other consumer banking	2,496		2,688		2,860		2,907		2,587		(7.1)	%	(3.5)	%
	Total consumer banking	11,239		12,429		13,333		12,367		11,377		(9.6)	%	(1.2)	%
	Commercial banking income:
	Merchant and card	5,624		5,841		6,166		6,512		5,558		(3.7)	%	1.2	%
	Cash management	4,742		4,697		4,696		4,638		4,361		1.0	%	8.7	%
	Capital markets	5,075		5,939		4,448		4,053		2,515		(14.5)	%	101.8	%
	Other commercial banking	2,978		3,664		3,478		3,815		2,816		(18.7)	%	5.8	%
	Total commercial banking	18,419		20,141		18,788		19,018		15,250		(8.5)	%	20.8	%
	Other	3,651		3,216		2,675		2,009		2,048		13.5	%	78.3	%
	Non-interest income before investment securities gains	54,598		55,281		55,321		54,140		46,686		(1.2)	%	16.9	%
	Investment securities gains, net	46		—		4,492		176		65		N/M		(29.2)	%
	Total Non-Interest Income	54,644		55,281		59,813		54,316		46,751		(1.2)	%	16.9	%
Non-Interest Expense:
	Salaries and employee benefits	80,228		76,975		78,211		78,991		77,757		4.2	%	3.2	%
	Net occupancy	13,486		13,080		12,368		14,469		12,909		3.1	%	4.5	%
	Other outside services	7,881		8,215		12,163		11,259		8,352		(4.1)	%	(5.6)	%
	Data processing and software	11,645		11,468		11,590		11,268		10,353		1.5	%	12.5	%
	Equipment	3,418		3,475		3,459		3,299		3,342		(1.6)	%	2.3	%
	Professional fees	4,202		2,873		3,331		2,970		3,960		46.3	%	6.1	%
	Marketing	1,579		1,503		3,322		2,863		2,160		5.1	%	(26.9)	%
	Amortization of tax credit investments	1,450		1,505		1,533		1,492		1,491		(3.7)	%	(2.7)	%
	FDIC insurance	2,808		2,177		239		2,755		2,609		29.0	%	7.6	%
	Intangible amortization	132		142		1,071		107		107		(7.0)	%	23.4	%
	Prepayment penalty on FHLB advances	—		—		4,326		—		—		—	%	—	%
	Other	15,723		17,561		15,157		14,695		14,784		(10.5)	%	6.4	%
	Total Non-Interest Expense	142,552		138,974		146,770		144,168		137,824		2.6	%	3.4	%
	Income Before Income Taxes	28,808		55,047		72,133		69,667		67,142		(47.7)	%	(57.1)	%
	Income tax expense	2,761		7,258		10,025		9,887		10,479		(62.0)	%	(73.7)	%
	Net Income	$	26,047	$	47,789	$	62,108	$	59,780	$	56,663	(45.5)	%	(54.0)	%
PER SHARE:
	Net income:
	Basic	$	0.16	$	0.29	$	0.38	$	0.36	$	0.33	(44.8)	%	(51.5)	%
	Diluted	0.16		0.29		0.37		0.35		0.33		(44.8)	%	(51.5)	%
	Cash dividends	0.13		0.17		0.13		0.13		0.13		(23.5)	%	—	%
	Weighted average shares (basic)	163,475		164,135		165,324		168,343		169,884		(0.4)	%	(3.8)	%
	Weighted average shares (diluted)	164,417		165,039		166,126		169,168		170,909		(0.4)	%	(3.8)	%
N/M - not meaningful

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands
		Three Months Ended
		March 31, 2020											December 31, 2019										March 31, 2019
		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	$	16,860,067	$	177,496	4.23%			$	16,768,057	$	182,024	4.31%		$	16,194,375		$	186,122	4.65%
	Taxable investment securities	2,284,457		16,294		2.85%			2,198,252		15,621		2.84%		2,285,724			15,435		2.70%
	Tax-exempt investment securities	720,223		5,960		3.29%			594,487		5,058		3.38%		444,132			4,150		3.71%
	Total Investment Securities	3,004,680		22,254		2.96%			2,792,739		20,679		2.96%		2,729,856			19,585		2.87%
	Loans held for sale	27,178		320		4.71%			30,062		295		3.93%		16,434			240		5.85%
	Other interest-earning assets	602,270		2,532		1.69%			492,560		2,370		1.92%		366,175			2,002		2.20%
	Total Interest-earning Assets	20,494,195		202,602		3.97%			20,083,418		205,368		4.07%		19,306,840			207,949		4.35%
Noninterest-earning assets:
	Cash and due from banks	138,248							128,417						110,693
	Premises and equipment	239,619							239,294						237,124
	Other assets	1,590,666							1,528,758						1,197,034
	Less: ACL - loans(2)	(210,629)							(167,449)						(161,326)
	Total Assets	$	22,252,099						$	21,812,438					$	20,690,365
LIABILITIES AND SHAREHOLDERS' EQUITY
Interest-bearing liabilities:
	Demand deposits	$	4,649,905	$	5,643	0.49%			$	4,699,040	$	8,494	0.72%		$	4,153,984		$	7,519	0.73%
	Savings deposits	5,127,662		7,110		0.56%			5,205,260		10,253		0.78%		4,912,856			9,962		0.82%
	Brokered deposits	275,359		1,073		1.57%			261,689		1,279		1.94%		220,115			1,382		2.55%
	Time deposits	2,761,474		12,614		1.84%			2,959,008		13,775		1.86%		2,765,803			10,826		1.59%
	Total Interest-bearing Deposits	12,814,400		26,440		0.83%			13,124,997		33,801		1.02%		12,052,758			29,689		1.00%
	Short-term borrowings	1,303,047		4,073		1.25%			717,811		2,343		1.29%		820,054			3,582		1.76%
	FHLB advances and long-term debt	1,063,214		8,119		3.06%			875,802		6,745		3.07%		1,002,463			8,114		3.26%
	Total Interest-bearing Liabilities	15,180,661		38,632		1.02%			14,718,610		42,889		1.16%		13,875,275			41,385		1.21%
Noninterest-bearing liabilities:
	Demand deposits	4,307,027							4,324,568						4,222,875
	Total deposits	17,121,427							17,449,565						16,275,633
	Other	427,395							427,863						327,118
	Total Liabilities	19,915,083							19,471,041						18,425,268
	Total Interest-bearing liabilities and non-interest bearing deposits ("Cost of Funds")	19,487,688				0.80		%	19,043,178				0.89	%	18,098,150					0.93	%
	Shareholders' equity	2,337,016							2,341,397						2,265,097
	Total Liabilities and Shareholders' Equity	$	22,252,099						$	21,812,438					$	20,690,365
	Net interest income/net interest margin (fully taxable equivalent)			163,970		3.21%					162,479		3.22%					166,564		3.49%
	Tax equivalent adjustment			(3,224)							(3,209)							(3,249)
	Net interest income			$	160,746						$	159,270						$	163,315
AVERAGE LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
		Three Months Ended																				% Change from
		Mar 31		Dec 31		Sep 30			Jun 30		Mar 31		Dec 31		Mar 31
		2020		2019		2019			2019		2019		2019		2019
Loans, by type:
	Real estate - commercial mortgage	$	6,746,766	$	6,561,029	$	6,489,456		$	6,424,213	$	6,378,145	2.8	%	5.8		%
	Commercial and industrial	4,446,750		4,574,047		4,414,992			4,440,860		4,462,609		(2.8)	%	(0.4)		%
	Real estate - residential mortgage	2,670,019		2,606,136		2,512,899			2,366,685		2,276,611		2.5	%	17.3		%
	Real estate - home equity	1,300,132		1,331,088		1,364,161			1,404,141		1,433,574		(2.3)	%	(9.3)		%
	Real estate - construction	929,529		934,556		905,060			943,080		930,246		(0.5)	%	(0.1)		%
	Consumer	466,415		464,606		457,524			445,666		424,480		0.4	%	9.9		%
	Equipment lease financing and other	300,456		296,595		292,415			291,431		288,710		1.3	%	4.1		%
	Total Loans, net of unearned income	$	16,860,067	$	16,768,057	$	16,436,507		$	16,316,076	$	16,194,375	0.5	%	4.1		%
Deposits, by type:
	Noninterest-bearing demand	$	4,307,027	$	4,324,568	$	4,247,820		$	4,200,810	$	4,222,875	(0.4)	%	2.0		%
	Interest-bearing demand	4,649,905		4,699,040		4,448,112			4,186,280		4,153,984		(1.0)	%	11.9		%
	Savings and money market accounts	5,127,662		5,205,260		5,026,316			4,925,788		4,912,856		(1.5)	%	4.4		%
	Total demand and savings	14,084,594		14,228,868		13,722,248			13,312,878		13,289,715		(1.0)	%	6.0		%
	Brokered deposits	275,359		261,689		253,426			246,154		220,115		5.2	%	25.1		%
	Time deposits	2,761,474		2,959,008		2,974,993			2,816,425		2,765,803		(6.7)	%	(0.2)		%
	Total Deposits	$	17,121,427	$	17,449,565	$	16,950,667		$	16,375,457	$	16,275,633	(1.9)	%	5.2		%
Short-term borrowings, by type:
	Customer repurchase agreements	$	52,399	$	59,363	$	61,230		$	56,171	$	56,707	(11.7)	%	(7.6)		%
	Customer short-term promissory notes	375,841		318,166		271,663			288,696		312,092		18.1	%	20.4		%
	Federal funds purchased	186,868		91,467		101,022			181,769		157,122		104.3	%	18.9		%
	Short-term FHLB advances	687,937		248,815		485,782			414,868		294,133		176.5	%	133.9

	Total Short-term Borrowings	$	1,303,045	$	717,811	$	919,697	$	941,504	$	820,054	81.5	%	58.9	%
(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 "Loans, net of unearned income" and does not include the ACL related to OBS credit exposures.

FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
dollars in thousands
		Three Months Ended
		Mar 31					Dec 31					Sep 30					Jun 30					Mar 31
		2020					2019					2019					2019					2019
Allowance for credit losses related to Loans, net of unearned income
Balance at beginning of period				$	163,620				$	166,135				$	170,233				$	162,109				$	160,537
	Impact of adopting CECL	45,724					—					—					—					—
	Loans charged off:
	Commercial and industrial	(10,899)					(30,547)					(7,181)					(1,895)					(2,787)
	Real estate - commercial mortgage	(855)					(68)					(394)					(230)					(1,145)
	Consumer and home equity	(1,529)					(1,416)					(1,375)					(1,001)					(902)
	Real estate - residential mortgage	(187)					(223)					(533)					(134)					(655)
	Real estate - construction	—					—					(45)					(3)					(95)
	Equipment lease financing and other	(533)					(727)					(600)					(448)					(785)
	Total loans charged off	(14,003)					(32,981)					(10,128)					(3,711)					(6,369)
Recoveries of loans previously charged off:
	Commercial and industrial	1,734					2,487					2,311					2,680					1,243
	Real estate - commercial mortgage	244					1,453					444					169					136
	Consumer and home equity	646					437					348					802					407
	Real estate - residential mortgage	85					206					440					211					132
	Real estate - construction	70					1,098					164					1,245					84
	Equipment lease financing and other	108					182					107					148					229
	Recoveries of loans previously charged off	2,887					5,863					3,814					5,255					2,231
Net loans recovered charged off				(11,116)					(27,118)					(6,314)					1,544					(4,138)
Provision for credit losses				40,280					24,603					2,216					6,580					5,710
Balance at end of period				$	238,508				$	163,620				$	166,135				$	170,233				$	162,109
Net charge-offs to average loans (annualized)				0.26		%			0.65		%			0.15		%			(0.04)		%			0.10		%
Allowance credit losses related to OBS Credit Exposures(1)
	Balance at beginning of period	$	2,588				$	6,662				$	6,708				$	8,263				$	8,873
	Impact of adopting CECL	12,625					—					—					—					—
	Provision for credit losses	3,750					(4,074)					(46)					(1,555)					(610)
	Balance at end of period	$	18,963				$	2,588				$	6,662				$	6,708				$	8,263
NON-PERFORMING ASSETS:
	Non-accrual loans	$	120,345				$	125,098				$	124,287				$	133,118				$	127,141
	Loans 90 days past due and accruing	19,593					16,057					11,689					14,598					11,540
	Total non-performing loans	139,938					141,155					135,976					147,716					138,681
	Other real estate owned	6,593					6,831					7,706					7,241					9,012
	Total non-performing assets	$	146,531				$	147,986				$	143,682				$	154,957				$	147,693
NON-PERFORMING LOANS, BY TYPE:
	Commercial and industrial	$	41,318				$	49,491				$	37,126				$	47,260				$	50,148
	Real estate - commercial mortgage	36,538					37,279					45,710					43,850					29,817
	Real estate - residential mortgage	25,832					22,411					20,150					21,659					22,299
	Consumer and home equity	11,226					11,026					11,012					12,378					10,770
	Real estate - construction	4,379					4,306					4,312					4,632					7,039
	Leasing	20,645					16,642					17,666					17,937					18,608
	Total non-performing loans	$	139,938				$	141,155				$	135,976				$	147,716				$	138,681
(1) The allowance for credit losses related to OBS Credit Exposures is presented in "other liabilities" on the consolidated balance sheets.

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
		Mar 31		Dec 31		Sep 30						Jun 30						Mar 31
		2020		2019		2019						2019						2019
Shareholders' equity (tangible), per share
Shareholders' equity						$	2,285,748					$	2,342,176					$	2,324,016					$	2,308,798					$	2,301,019
Less: Goodwill and intangible assets						(535,171)						(535,303)						(534,178)						(535,249)						(535,356)
Tangible shareholders' equity (numerator)						$	1,750,577					$	1,806,873					$	1,789,838					$	1,773,549					$	1,765,663
Shares outstanding, end of period (denominator)						161,435						164,218						164,036						166,903						169,923
Shareholders' equity (tangible), per share						$	10.84					$	11.00					$	10.91					$	10.63					$	10.39
Return on average shareholders' equity (tangible)
Net income						$	26,047					$	47,789					$	62,108					$	59,779					$	56,663
Plus: Intangible amortization, net of tax						104						112						846						85						85
(Numerator)									$	26,151					$	47,901					$	62,954					$	59,864					$	56,748
Average shareholders' equity						$	2,337,016					$	2,341,397					$	2,315,585					$	2,301,258					$	2,265,097
Less: Average goodwill and intangible assets						(535,235)						(534,190)						(535,184)						(535,301)						(531,767)
Average tangible shareholders' equity (denominator)									$	1,801,781					$	1,807,207					$	1,780,401					$	1,765,957					$	1,733,330
Return on average shareholders' equity (tangible), annualized									5.84		%				10.52		%				14.03		%				13.60		%				13.28		%
Tangible Common Equity to Tangible Assets (TCE Ratio)
Shareholders' equity						$	2,285,748					$	2,342,176					$	2,324,016					$	2,308,798					$	2,301,019
Less: Goodwill and intangible assets						(535,171)						(535,303)						(534,178)						(535,249)						(535,356)
Tangible shareholders' equity (numerator)						$	1,750,577					$	1,806,873					$	1,789,838					$	1,773,549					$	1,765,663
Total assets		$	22,929,859	$	21,886,040	$	21,703,618					$	21,308,670					$	20,974,649
Less: Goodwill and intangible assets						(535,171)						(535,303)						(534,178)						(535,249)						(535,356)
Total tangible assets (denominator)						$	22,394,688					$	21,350,737					$	21,169,440					$	20,773,421					$	20,439,293
Tangible Common Equity to Tangible Assets						7.82		%				8.46		%				8.45		%				8.54		%				8.64		%
Efficiency ratio
Non-interest expense						$	142,552					$	138,974					$	146,770					$	144,168					$	137,824
Less: Intangible amortization						(132)						(142)						(1,071)						(107)						(107)
Less: Amortization of tax credit investments						(1,450)						(1,505)						(1,533)						(1,492)						(1,491)
Less: Loss on redemption of FHLB advances						—						—						(4,326)						—						—
Non-interest expense (numerator)						$	140,970					$	137,327					$	139,840					$	142,569					$	136,226
Net interest income (fully taxable equivalent)						$	163,970					$	162,479					$	164,517					$	167,794					$	166,564
Plus: Total Non-interest income						54,644						55,281						59,813						54,315						46,751
Less: Investment securities gains						(46)						—						(4,492)						(176)						(65)
Net interest income (denominator)						$	218,568					$	217,760					$	219,838					$	221,933					$	213,250
Efficiency ratio						64.5		%				63.1		%				63.6		%				64.2		%				63.9		%
Non-performing assets to tangible shareholders' equity and ACL - loans(1)
Non-performing assets (numerator)						$	146,531					$	147,986					$	143,682					$	154,957					$	147,693
Tangible shareholders' equity						$	1,750,577					$	1,806,873					1,789,838						1,773,549						$	1,765,663
Plus: ACL - loans						238,508						163,620						166,135						170,233						162,109
Tangible shareholders' equity and ACL - loans (denominator)												$	1,989,085					$	1,970,493					$	1,955,973					$	1,943,782					$	1,927,772
Non-performing assets to tangible shareholders' equity and ACL - loans												7.37		%				7.51		%				7.35		%				7.97		%				7.66		%

Pre-provision net revenue
Net interest income				$	160,746			$	159,270			$	161,260			$	164,544			$	163,315
Non-interest income				54,644				55,281				59,813				54,315				46,751
Less: Investment securities gains				(46)				—				(4,492)				(176)				(65)
Total revenue		$	215,344			$	214,551			$	216,581			$	218,683			$	210,001
Non-interest expense				$	142,552			$	138,974			$	146,770			$	144,168			$	137,824
Less: Loss on redemption of FHLB advances						—				—				(4,326)				—				—
Less: Amortization of tax credit investments						(1,450)				(1,505)				(1,533)				(1,492)				(1,491)
Less: Intangible amortization	(132)			(142)				(1,071)				(107)				(107)
Total non-interest expense				$	140,970			$	137,327			$	139,840			$	142,569			$	136,226
Pre-provision net revenue						$	74,374			$	77,224			$	76,741			$	76,114			$	73,775
(1) "ACL - loans" relates to the ACL specifically on "Loans, net of unearned income" and does not include the ACL related to OBS credit exposures.