Fulton Financial (FULT) 8-K Fulton Financial reports second quarter earnings

EXHIBIT 99.2

FULTON FINANCIAL CORPORATION
FINANCIAL HIGHLIGHTS (UNAUDITED)
dollars in thousands, except per-share data

	June 30
	2008		2007		% Change
BALANCE SHEET DATA
Total assets	$	16,058,125	$	15,078,415		6.5	%
Loans, net of unearned income		11,577,495		10,713,819		8.1	%
Investment securities		2,706,949		2,750,394		(1.6	%)
Deposits		9,938,194		10,318,239		(3.7	%)
Shareholders’ equity		1,593,478		1,531,660		4.0	%

	Quarter Ended June 30									Six Months Ended June 30
	2008			2007			% Change			2008			2007			% Change
INCOME SUMMARY
Interest income	$	215,392		$	230,112			(6.4	%)	$	444,612		$	460,768			(3.5	%)
Interest expense		(83,502	)		(109,204	)		(23.5	%)		(186,823	)		(218,085	)		(14.3	%)
Net interest income		131,890			120,908			9.1	%		257,789			242,683			6.2	%
Provision for loan losses		(16,706	)		(2,700	)		518.7	%		(27,926	)		(3,657	)		663.6	%
Investment securities (losses) gains		(21,647	)		629			(3,541.5	%)		(20,401	)		2,411			(946.2	%)
Gain on sale of credit card portfolio		13,910			—			N/A			13,910			—			N/A
Other income		39,887			36,376			9.7	%		76,321			73,659			3.6	%
Other expenses		(109,736	)		(98,107	)		11.9	%		(206,396	)		(199,012	)		3.7	%
Income before income taxes		37,598			57,106			(34.2	%)		93,297			116,084			(19.6	%)
Income taxes		(11,920	)		(17,261	)		(30.9	%)		(26,123	)		(35,111	)		(25.6	%)
Net income	$	25,678		$	39,845			(35.6	%)	$	67,174		$	80,973			(17.0	%)
PER-SHARE DATA:
Net income:
Basic	$	0.15		$	0.23			(34.8	%)	$	0.39		$	0.47			(17.0	%)
Diluted		0.15			0.23			(34.8	%)		0.39			0.46			(15.2	%)
Cash dividends		0.1500			0.1500			—			0.300			0.298			0.7	%
Shareholders’ equity		9.15			8.84			3.5	%
Shareholders’ equity (tangible)		5.41			5.03			7.6	%
SELECTED FINANCIAL RATIOS:
Return on average assets		0.65	%		1.08	%					0.85	%		1.10	%
Return on average shareholders’ equity		6.33	%		10.52	%					8.40	%		10.79	%
Return on average shareholders’ equity (tangible)		11.03	%		19.30	%					14.65	%		19.81	%
Net interest margin		3.75	%		3.70	%					3.67	%		3.72	%
Efficiency ratio		56.93	%		59.72	%					56.97	%		60.35	%
Non-performing assets to total assets		1.02	%		0.49	%

N/A - Not applicable

1

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
dollars in thousands

										% Change from
	June 30			June 30			March 31			June 30			March 31
	2008			2007			2008			2007			2008
ASSETS
Cash and due from banks	$	420,273		$	381,714		$	406,601			10.1	%		3.4	%
Loans held for sale		116,351			185,471			95,144			(37.3	%)		22.3	%
Other interest-earning assets		10,234			14,367			13,240			(28.8	%)		(22.7	%)
Investment securities		2,706,949			2,750,394			3,104,827			(1.6	%)		(12.8	%)
Loans, net of unearned income		11,577,495			10,713,819			11,388,653			8.1	%		1.7	%
Allowance for loan losses		(122,340	)		(106,892	)		(115,257	)		14.4	%		6.1	%
Net Loans		11,455,155			10,606,927			11,273,396			8.0	%		1.6	%
Premises and equipment		196,934			188,893			197,424			4.3	%		(0.2	%)
Accrued interest receivable		61,366			71,785			65,865			(14.5	%)		(6.8	%)
Goodwill and intangible assets		651,324			659,739			653,038			(1.3	%)		(0.3	%)
Other assets		439,539			219,125			243,332			100.6	%		80.6	%
Total Assets	$	16,058,125		$	15,078,415		$	16,052,867			6.5	%		—
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits	$	9,938,194		$	10,318,239		$	10,048,928			(3.7	%)		(1.1	%)
Short-term borrowings		2,497,387			1,496,407			2,229,127			66.9	%		12.0	%
Federal Home Loan Bank advances and long-term debt		1,819,428			1,555,351			1,890,969			17.0	%		(3.8	%)
Other liabilities		209,638			176,758			272,123			18.6	%		(23.0	%)
Total Liabilities		14,464,647			13,546,755			14,441,147			6.8	%		0.2	%
Shareholders’ equity		1,593,478			1,531,660			1,611,720			4.0	%		(1.1	%)
Total Liabilities and Shareholders’ Equity	$	16,058,125		$	15,078,415		$	16,052,867			6.5	%		—
LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
Loans, by type:
Commercial — industrial, financial and agricultural	$	3,518,483		$	3,233,530		$	3,493,352			8.8	%		0.7	%
Real estate — commercial mortgage		3,792,326			3,331,676			3,619,391			13.8	%		4.8	%
Real estate — residential mortgage		929,252			731,966			882,977			27.0	%		5.2	%
Real estate — home equity		1,593,775			1,447,058			1,547,323			10.1	%		3.0	%
Real estate — construction		1,296,400			1,379,449			1,303,232			(6.0	%)		(0.5	%)
Consumer		362,555			505,365			451,037			(28.3	%)		(19.6	%)
Leasing and other		84,704			84,775			91,341			(0.1	%)		(7.3	%)
Total Loans, net of unearned income	$	11,577,495		$	10,713,819		$	11,388,653			8.1	%		1.7	%
Deposits, by type:
Noninterest-bearing demand	$	1,789,150		$	1,818,862		$	1,737,442			(1.6	%)		3.0	%
Interest-bearing demand		1,671,769			1,667,455			1,712,601			0.3	%		(2.4	%)
Savings deposits		2,207,617			2,292,257			2,157,749			(3.7	%)		2.3	%
Time deposits		4,269,658			4,539,665			4,441,136			(5.9	%)		(3.9	%)
Total Deposits	$	9,938,194		$	10,318,239		$	10,048,928			(3.7	%)		(1.1	%)
Short-term borrowings, by type:
Federal funds purchased	$	1,531,568		$	830,327		$	1,103,804			84.5	%		38.8	%
Short-term promissory notes		480,489			399,317			496,706			20.3	%		(3.3	%)
Customer repurchase agreements		219,716			261,568			223,649			(16.0	%)		(1.8	%)
Other		265,614			5,195			404,968			5,012.9	%		(34.4	%)
Total Short-term borrowings	$	2,497,387		$	1,496,407		$	2,229,127			66.9	%		12.0	%

2

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED INCOME STATEMENTS (UNAUDITED)
dollars in thousands, except per-share data

	Quarter Ended									% Change from
	June 30			June 30			March 31			June 30			March 31			Six Months Ended June 30
	2008			2007			2008			2007			2008			2008			2007			% Change
Interest Income:
Interest Income	$	215,392		$	230,112		$	229,220			(6.4	%)		(6.0	%)	$	444,612		$	460,768			(3.5	%)
Interest Expense		83,502			109,204			103,321			(23.5	%)		(19.2	%)		186,823			218,085			(14.3	%)
Net Interest Income		131,890			120,908			125,899			9.1	%		4.8	%		257,789			242,683			6.2	%
Provision for Loan Losses		16,706			2,700			11,220			518.7	%		48.9	%		27,926			3,657			663.6	%
Net Interest Income after Provision		115,184			118,208			114,679			(2.6	%)		0.4	%		229,863			239,026			(3.8	%)
Other Income:
Service charges on deposit accounts		15,319			11,225			13,967			36.5	%		9.7	%		29,286			21,852			34.0	%
Gain on sale of credit card portfolio		13,910			—			—			N/A			N/A			13,910			—			N/A
Investment management and trust services		8,389			10,273			8,759			(18.3	%)		(4.2	%)		17,148			20,083			(14.6	%)
Other service charges and fees		9,131			7,841			8,591			16.5	%		6.3	%		17,722			15,216			16.5	%
Gains on sale of mortgage loans		2,670			4,188			2,311			(36.2	%)		15.5	%		4,981			9,581			(48.0	%)
Investment securities (losses) gains		(21,647	)		629			1,246			(3,541.5	%)		(1,837.3	%)		(20,401	)		2,411			(946.2	%)
Other		4,378			2,849			2,806			53.7	%		56.0	%		7,184			6,927			3.7	%
Total Other Income		32,150			37,005			37,680			(13.1	%)		(14.7	%)		69,830			76,070			(8.2	%)
Other Expenses:
Salaries and employee benefits		54,281			55,555			55,195			(2.3	%)		(1.7	%)		109,476			111,848			(2.1	%)
Operating risk loss		14,385			4,202			1,243			242.3	%		1,057.3	%		15,628			10,117			54.5	%
Net occupancy expense		10,238			9,954			10,524			2.9	%		(2.7	%)		20,762			20,150			3.0	%
Equipment expense		3,398			3,436			3,448			(1.1	%)		(1.5	%)		6,846			7,151			(4.3	%)
Data processing		3,116			3,217			3,246			(3.1	%)		(4.0	%)		6,362			6,419			(0.9	%)
Advertising		3,519			2,990			2,905			17.7	%		21.1	%		6,424			5,399			19.0	%
Intangible amortization		1,799			2,198			1,857			(18.2	%)		(3.1	%)		3,656			4,181			(12.6	%)
Other		19,000			16,555			18,242			14.8	%		4.2	%		37,242			33,747			10.4	%
Total Other Expenses		109,736			98,107			96,660			11.9	%		13.5	%		206,396			199,012			3.7	%
Income Before Income Taxes		37,598			57,106			55,699		��	(34.2	%)		(32.5	%)		93,297			116,084			(19.6	%)
Income Taxes		11,920			17,261			14,203			(30.9	%)		(16.1	%)		26,123			35,111			(25.6	%)
Net Income	$	25,678		$	39,845		$	41,496			(35.6	%)		(38.1	%)	$	67,174		$	80,973			(17.0	%)
SHARE AND PER-SHARE INFORMATION:
Net income:
Basic	$	0.15		$	0.23		$	0.24			(34.8	%)		(37.5	%)	$	0.39		$	0.47			(17.0	%)
Diluted		0.15			0.23			0.24			(34.8	%)		(37.5	%)		0.39			0.46			(15.2	%)
Cash dividends	$	0.1500		$	0.1500		$	0.1500			—			—		$	0.300		$	0.298			0.7	%
Shareholders’ equity		9.15			8.84			9.28			3.5	%		(1.4	%)
Shareholders’ equity (tangible)		5.41			5.03			5.52			7.6	%		(2.0	%)
Weighted average shares (basic)		173,959			173,184			173,624			0.4	%		0.2	%		173,791			173,228			0.3	%
Weighted average shares (diluted)		174,528			174,417			174,209			0.1	%		0.2	%		174,360			174,595			(0.1	%)
Shares outstanding, end of period		174,107			173,270			173,722			0.5	%		0.2	%
SELECTED FINANCIAL RATIOS:
Return on average assets		0.65	%		1.08	%		1.05	%								0.85	%		1.10	%
Return on average shareholders’ equity		6.33	%		10.52	%		10.53	%								8.40	%		10.79	%
Return on average shareholders’ equity (tangible)		11.03	%		19.30	%		18.45	%								14.65	%		19.81	%
Net interest margin		3.75	%		3.70	%		3.58	%								3.67	%		3.72	%
Efficiency ratio		56.93	%		59.72	%		57.10	%								56.97	%		60.35	%

N/A - Not applicable

3

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands

	Quarter Ended
	June 30, 2008									June 30, 2007									March 31, 2008
	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	$	11,423,409		$	180,433			6.35	%	$	10,582,300		$	199,085			7.54	%	$	11,295,531		$	192,422			6.85	%
Taxable investment securities		2,304,391			28,528			4.90	%		1,973,214			21,999			4.46	%		2,407,189			29,561			4.91	%
Tax-exempt investment securities		509,784			6,911			5.42	%		500,341			6,405			5.12	%		515,856			6,761			5.24	%
Equity securities		196,981			1,729			3.52	%		188,558			2,230			4.74	%		213,004			2,380			4.48	%
Total Investment Securities		3,011,156			37,168			4.90	%		2,662,113			30,634			4.60	%		3,136,049			38,702			4.94	%
Loans held for sale		108,478			1,610			5.94	%		197,852			3,393			6.86	%		98,676			1,577			6.39	%
Other interest-earning assets		16,325			102			2.50	%		25,311			311			4.90	%		26,784			218			3.25	%
Total Interest-earning Assets		14,559,368			219,313			6.05	%		13,467,576			233,423			6.95	%		14,557,040			232,919			6.43	%
Noninterest-earning assets:
Cash and due from banks		323,223									340,752									310,719
Premises and equipment		196,990									189,975									196,037
Other assets		984,000									899,160									927,260
Less: allowance for loan losses		(115,936	)								(108,952	)								(109,914	)
Total Assets	$	15,947,645								$	14,788,511								$	15,881,142
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities:
Demand deposits	$	1,708,050		$	2,967			0.70	%	$	1,676,528		$	7,198			1.72	%	$	1,685,620		$	4,405			1.05	%
Savings deposits		2,207,699			6,600			1.20	%		2,298,910			13,776			2.40	%		2,137,704			9,163			1.72	%
Time deposits		4,361,280			41,562			3.83	%		4,526,107			52,825			4.68	%		4,520,004			49,918			4.44	%
Total Interest-bearing Deposits		8,277,029			51,129			2.48	%		8,501,545			73,799			3.48	%		8,343,328			63,486			3.06	%
Short-term borrowings		2,314,845			12,388			2.13	%		1,243,370			14,894			4.77	%		2,347,463			18,828			3.19	%
Federal Home Loan Bank advances and long-term debt		1,871,649			19,985			4.29	%		1,585,125			20,511			5.19	%		1,798,508			21,007			4.69	%
Total Interest-bearing Liabilities		12,463,523			83,502			2.69	%		11,330,040			109,204			3.86	%		12,489,299			103,321			3.32	%
Noninterest-bearing liabilities:
Demand deposits		1,662,266									1,756,271									1,616,283
Other		190,963									183,449									190,496
Total Liabilities		14,316,752									13,269,760									14,296,078
Shareholders’ equity		1,630,893									1,518,751									1,585,064
Total Liabilities and Shareholders’ Equity	$	15,947,645								$	14,788,511								$	15,881,142
Net interest income/net interest margin (fully taxable equivalent)					135,811			3.75	%					124,219			3.70	%					129,598			3.58	%
Tax equivalent adjustment					(3,921	)								(3,311	)								(3,699	)
Net interest income				$	131,890								$	120,908								$	125,899

(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
	2008		2007		2008		2007			2008
Loans, by type:
Commercial — industrial, financial and agricultural	$	3,510,150	$	3,172,233	$	3,472,443		10.7	%		1.1	%
Real estate — commercial mortgage		3,697,650		3,287,308		3,547,507		12.5	%		4.2	%
Real estate — residential mortgage		894,652		710,433		861,054		25.9	%		3.9	%
Real estate — home equity		1,568,173		1,435,467		1,526,475		9.2	%		2.7	%
Real estate — construction		1,291,064		1,381,552		1,328,718		(6.5	%)		(2.8	%)
Consumer		376,537		506,965		473,245		(25.7	%)		(20.4	%)
Leasing and other		85,183		88,342		86,089		(3.6	%)		(1.1	%)
Total Loans, net of unearned income	$	11,423,409	$	10,582,300	$	11,295,531		7.9	%		1.1	%
Deposits, by type:
Noninterest-bearing demand	$	1,662,266	$	1,756,271	$	1,616,283		(5.4	%)		2.8	%
Interest-bearing demand		1,708,050		1,676,528		1,685,620		1.9	%		1.3	%
Savings deposits		2,207,699		2,298,910		2,137,704		(4.0	%)		3.3	%
Time deposits		4,361,280		4,526,107		4,520,004		(3.6	%)		(3.5	%)
Total Deposits	$	9,939,295	$	10,257,816	$	9,959,611		(3.1	%)		(0.2	%)
Short-term borrowings, by type:
Federal funds purchased	$	1,303,590	$	586,007	$	1,184,370		122.5	%		10.1	%
Short-term promissory notes		468,802		376,149		471,470		24.6	%		(0.6	%)
Customer repurchase agreements		223,092		255,685		226,921		(12.7	%)		(1.7	%)
Other		319,361		25,529		464,702		1,151.0	%		(31.3	%)
Total Short-term borrowings	$	2,314,845	$	1,243,370	$	2,347,463		86.2	%		(1.4	%)

4

FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
dollars in thousands

	Six Months Ended June 30
	2008									2007
	Average									Average
	Balance			Interest (1)			Yield/Rate			Balance			Interest (1)			Yield/Rate
ASSETS
Interest-earning assets:
Loans, net of unearned income	$	11,359,470		$	372,875			6.60	%	$	10,498,962		$	395,643			7.59	%
Taxable investment securities		2,355,791			58,089			4.91	%		2,081,123			46,618			4.48	%
Tax-exempt investment securities		512,820			13,887			5.42	%		496,546			12,633			5.09	%
Equity securities		204,993			4,109			4.02	%		183,550			4,359			4.76	%
Total Investment Securities		3,073,604			76,085			4.93	%		2,761,219			63,610			4.61	%
Loans held for sale		103,577			3,187			6.16	%		202,826			7,077			6.98	%
Other interest-earning assets		21,555			320			2.96	%		36,756			907			4.94	%
Total Interest-earning Assets		14,558,206			452,467			6.24	%		13,499,763			467,237			6.97	%
Noninterest-earning assets:
Cash and due from banks		316,971									328,429
Premises and equipment		196,512									190,984
Other assets		955,629									899,499
Less: allowance for loan losses		(112,925	)								(108,321	)
Total Assets	$	15,914,393								$	14,810,354
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities:
Demand deposits	$	1,696,835		$	7,372			0.87	%	$	1,667,173		$	14,103			1.71	%
Savings deposits		2,172,702			15,763			1.46	%		2,297,374			27,586			2.42	%
Time deposits		4,440,641			91,480			4.14	%		4,491,926			103,318			4.64	%
Total Interest-bearing Deposits		8,310,178			114,615			2.77	%		8,456,473			145,007			3.46	%
Short-term borrowings		2,331,153			31,216			2.66	%		1,397,080			33,948			4.86	%
Federal Home Loan Bank advances and long-term debt		1,835,079			40,992			4.49	%		1,517,944			39,130			5.19	%
Total Interest-bearing Liabilities		12,476,410			186,823			3.00	%		11,371,497			218,085			3.86	%
Noninterest-bearing liabilities:
Demand deposits		1,639,275									1,738,799
Other		190,730									186,355
Total Liabilities		14,306,415									13,296,651
Shareholders’ equity		1,607,978									1,513,703
Total Liabilities and Shareholders’ Equity	$	15,914,393								$	14,810,354
Net interest income/net interest margin (fully taxable equivalent)					265,644			3.67	%					249,152			3.72	%
Tax equivalent adjustment					(7,855	)								(6,469	)
Net interest income				$	257,789								$	242,683

(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
	2008		2007		% Change
Loans, by type:
Commercial — industrial, financial and agricultural	$	3,491,296	$	3,102,127		12.5	%
Real estate — commercial mortgage		3,622,577		3,263,376		11.0	%
Real estate — residential mortgage		877,853		706,199		24.3	%
Real estate — home equity		1,547,324		1,438,586		7.6	%
Real estate — construction		1,309,891		1,388,998		(5.7	%)
Consumer		424,891		511,625		(17.0	%)
Leasing and other		85,638		88,051		(2.7	%)
Total Loans, net of unearned income	$	11,359,470	$	10,498,962		8.2	%
Deposits, by type:
Noninterest-bearing demand	$	1,639,275	$	1,738,799		(5.7	%)
Interest-bearing demand		1,696,835		1,667,173		1.8	%
Savings deposits		2,172,702		2,297,374		(5.4	%)
Time deposits		4,440,641		4,491,926		(1.1	%)
Total Deposits	$	9,949,453	$	10,195,272		(2.4	%)
Short-term borrowings, by type:
Federal funds purchased	$	1,243,980	$	749,715		65.9	%
Short-term promissory notes		470,136		345,999		35.9	%
Customer repurchase agreements		225,006		256,170		(12.2	%)
Other		392,031		45,196		767.4	%
Total Short-term borrowings	$	2,331,153	$	1,397,080		66.9	%

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FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
dollars in thousands

	Quarter Ended									Six Months Ended
	June 30			June 30			March 31			June 30
	2008			2007			2008			2008			2007
ALLOWANCE FOR CREDIT LOSSES:
Balance at beginning of period	$	119,069		$	107,899		$	112,209		$	112,209		$	106,884
Loans charged off		(10,196	)		(4,506	)		(5,626	)		(15,822	)		(5,866	)
Recoveries of loans previously charged off		644			799			1,266			1,910			2,217
Net loans charged off		(9,552	)		(3,707	)		(4,360	)		(13,912	)		(3,649	)
Provision for loan losses		16,706			2,700			11,220			27,926			3,657
Balance at end of period	$	126,223		$	106,892		$	119,069		$	126,223		$	106,892
Net charge-offs to average loans (annualized)		0.33	%		0.14	%		0.15	%		0.24	%		0.07	%
COMPONENTS OF ALLOWANCE FOR CREDIT LOSSES:
Allowance for loan losses	$	122,340		$	106,892		$	115,257
Reserve for unfunded lending commitments (1)		3,883			—			3,812
Allowance for credit losses	$	126,223		$	106,892		$	119,069
(1)Reserve for unfunded commitments transferred to other liabilities as of December 31, 2007. Prior periods were not reclassified.
NON-PERFORMING ASSETS:
Non-accrual loans	$	108,699		$	46,683		$	96,588
Accruing loans 90+ days overdue		35,656			21,559			29,733
Other real estate owned		20,156			5,899			18,333
Total non-performing assets	$	164,511		$	74,141		$	144,654
ASSET QUALITY RATIOS:
Non-accrual loans to total loans		0.94	%		0.44	%		0.85	%
Non-performing assets to total loans and OREO		1.42	%		0.69	%		1.27	%
Non-performing assets to total assets		1.02	%		0.49	%		0.90	%
Allowance for credit losses to loans outstanding		1.09	%		1.00	%		1.05	%
Allowance for loan losses to loans outstanding		1.06	%		1.00	%		1.01	%
Allowance for credit losses to non-performing loans		87	%		158	%		94	%

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