Fulton Financial (FULT) 8-K Fulton Financial reports first quarter earnings of $0.13 per share

Exhibit 99.2

FULTON FINANCIAL CORPORATION

FINANCIAL HIGHLIGHTS (UNAUDITED)

dollars in thousands, except per-share data

	March 31						% Change
	2010			2009
BALANCE SHEET DATA
Total assets	$	16,411,523		$	16,493,522		(0.5	%)
Loans, net of unearned income		11,964,840			12,009,060		(0.4	%)
Investment securities		3,103,628			3,123,687		(0.6	%)
Deposits		12,156,455			11,413,982		6.5	%
Shareholders’ equity		1,969,838			1,861,321		5.8	%
	Quarter Ended March 31
	2010			2009			% Change
INCOME SUMMARY
Interest income	$	190,588		$	195,567		(2.5	%)
Interest expense		(52,079	)		(71,451	)	(27.1	%)
Net interest income		138,509			124,116		11.6	%
Provision for loan losses		(40,000	)		(50,000	)	(20.0	%)
Investment securities gains (losses)		(2,223	)		2,919		N/M
Other income		39,690			43,995		(9.8	%)
Other expenses		(99,229	)		(106,372	)	(6.7	%)
Income before income taxes		36,747			14,658		150.7	%
Income tax expense		(9,267	)		(1,573	)	489.1	%
Net income		27,480			13,085		110.0	%
Preferred stock dividends and discount accretion		(5,065	)		(5,031	)	0.7	%
Net income available to common shareholders	$	22,415		$	8,054		178.3	%
PER COMMON SHARE:
Net income:
Basic	$	0.13		$	0.05		160.0	%
Diluted		0.13			0.05		160.0	%
Cash dividends		0.03			0.03		—
Shareholders’ equity		9.06			8.50		6.6	%
Shareholders’ equity (tangible)		5.94			5.33		11.4	%
SELECTED FINANCIAL RATIOS:
Return on average assets		0.68	%		0.33	%
Return on average common shareholders’ equity		5.73	%		2.18	%
Return on average common shareholders’ equity (tangible)		9.13	%		3.88	%
Net interest margin		3.78	%		3.45	%
Efficiency ratio		53.77	%		60.95	%
Tangible common equity to tangible assets		6.61	%		5.87	%
Non-performing assets to total assets		1.90	%		1.63	%

N/M - Not meaningful

1

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)

dollars in thousands

										% Change from
	March 31 2010			March 31 2009			December 31 2009			March 31 2009		December 31 2009
ASSETS
Cash and due from banks	$	276,200		$	265,431		$	284,508		4.1	%	(2.9	%)
Loans held for sale		53,798			102,033			85,384		(47.3	%)	(37.0	%)
Other interest-earning assets		7,842			14,329			16,591		(45.3	%)	(52.7	%)
Investment securities		3,103,628			3,123,687			3,267,086		(0.6	%)	(5.0	%)
Loans, net of unearned income		11,964,840			12,009,060			11,972,424		(0.4	%)	(0.1	%)
Allowance for loan losses		(264,915	)		(192,410	)		(256,698	)	37.7	%	3.2	%
Net Loans		11,699,925			11,816,650			11,715,726		(1.0	%)	(0.1	%)
Premises and equipment		204,149			205,495			204,203		(0.7	%)	—
Accrued interest receivable		58,689			59,369			58,515		(1.1	%)	0.3	%
Goodwill and intangible assets		551,537			556,496			552,563		(0.9	%)	(0.2	%)
Other assets		455,755			350,032			451,059		30.2	%	1.0	%
Total Assets	$	16,411,523		$	16,493,522		$	16,635,635		(0.5	%)	(1.3	%)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits	$	12,156,455		$	11,413,982		$	12,097,914		6.5	%	0.5	%
Short-term borrowings		624,650			1,195,474			868,940		(47.7	%)	(28.1	%)
Federal Home Loan Bank advances and long-term debt		1,440,755			1,786,598			1,540,773		(19.4	%)	(6.5	%)
Other liabilities		219,825			236,147			191,526		(6.9	%)	14.8	%
Total Liabilities		14,441,685			14,632,201			14,699,153		(1.3	%)	(1.8	%)
Preferred stock		370,649			369,270			370,290		0.4	%	0.1	%
Common shareholders’ equity		1,599,189			1,492,051			1,566,192		7.2	%	2.1	%��
Total Shareholders’ Equity		1,969,838			1,861,321			1,936,482		5.8	%	1.7	%
Total Liabilities and Shareholders’ Equity	$	16,411,523		$	16,493,522		$	16,635,635		(0.5	%)	(1.3	%)
LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
Loans, by type:
Real estate - commercial mortgage	$	4,322,774		$	4,068,342		$	4,292,300		6.3	%	0.7	%
Commercial - industrial, financial and agricultural		3,684,903			3,653,503			3,699,198		0.9	%	(0.4	%)
Real estate - home equity		1,638,179			1,673,613			1,644,260		(2.1	%)	(0.4	%)
Real estate - residential mortgage		951,381			947,837			921,741		0.4	%	3.2	%
Real estate - construction		937,279			1,205,256			978,267		(22.2	%)	(4.2	%)
Consumer		361,681			378,851			360,698		(4.5	%)	0.3	%
Leasing and other		68,643			81,658			75,960		(15.8	%)	(9.6	%)
Total Loans, net of unearned income	$	11,964,840		$	12,009,060		$	11,972,424		(0.4	%)	(0.1	%)
Deposits, by type:
Noninterest-bearing demand	$	2,038,199		$	1,776,169		$	2,012,837		14.8	%	1.3	%
Interest-bearing demand		1,987,791			1,799,586			2,022,746		10.5	%	(1.7	%)
Savings deposits		2,972,621			2,125,297			2,748,467		39.9	%	8.2	%
Time deposits		5,157,844			5,712,930			5,313,864		(9.7	%)	(2.9	%)
Total Deposits	$	12,156,455		$	11,413,982		$	12,097,914		6.5	%	0.5	%
Short-term borrowings, by type:
Federal funds purchased	$	162,040		$	397,158		$	378,068		(59.2	%)	(57.1	%)
Customer repurchase agreements		245,265			249,256			259,458		(1.6	%)	(5.5	%)
Customer short-term promissory notes		217,345			343,845			231,414		(36.8	%)	(6.1	%)
Federal Reserve Bank borrowings and other		—			205,215			—		N/A		—
Total Short-term borrowings	$	624,650		$	1,195,474		$	868,940		(47.7	%)	(28.1	%)

N/A - Not Applicable

2

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

dollars in thousands, except per-share data

	Quarter Ended									% Change from
	March 31 2010			March 31 2009			December 31 2009			March 31 2009		December 31 2009
Interest Income:
Interest income	$	190,588		$	195,567		$	194,942		(2.5	%)	(2.2	%)
Interest expense		52,079			71,451			58,849		(27.1	%)	(11.5	%)
Net Interest Income		138,509			124,116			136,093		11.6	%	1.8	%
Provision for loan losses		40,000			50,000			45,020		(20.0	%)	(11.2	%)
Net Interest Income after Provision		98,509			74,116			91,073		32.9	%	8.2	%
Other Income:
Service charges on deposit accounts		14,267			14,894			15,174		(4.2	%)	(6.0	%)
Other service charges and fees		9,372			8,354			9,369		12.2	%	—
Investment management and trust services		8,088			7,903			8,106		2.3	%	(0.2	%)
Gains on sales of mortgage loans		3,364			8,591			3,880		(60.8	%)	(13.3	%)
Investment securities gains (losses)		(2,223	)		2,919			(1,872	)	N/M		18.8	%
Other		4,599			4,253			4,628		8.1	%	(0.6	%)
Total Other Income		37,467			46,914			39,285		(20.1	%)	(4.6	%)
Other Expenses:
Salaries and employee benefits		52,345			55,304			53,623		(5.4	%)	(2.4	%)
Net occupancy expense		11,650			11,023			10,612		5.7	%	9.8	%
FDIC insurance expense		4,954			4,288			4,841		15.5	%	2.3	%
Equipment expense		3,091			3,079			3,160		0.4	%	(2.2	%)
Data processing		2,624			3,072			2,228		(14.6	%)	17.8	%
Professional fees		2,546			2,228			2,397		14.3	%	6.2	%
Telecommunications		2,270			2,163			2,125		4.9	%	6.8	%
Marketing		1,830			2,571			2,638		(28.8	%)	(30.6	%)
Intangible amortization		1,314			1,463			1,421		(10.2	%)	(7.5	%)
Operating risk loss		511			6,201			867		(91.8	%)	(41.1	%)
Other		16,094			14,980			16,458		7.4	%	(2.2	%)
Total Other Expenses		99,229			106,372			100,370		(6.7	%)	(1.1	%)
Income Before Income Taxes		36,747			14,658			29,988		150.7	%	22.5	%
Income tax expense		9,267			1,573			5,606		489.1	%	65.3	%
Net Income		27,480			13,085			24,382		110.0	%	12.7	%
Preferred stock dividends and discount accretion		(5,065	)		(5,031	)		(5,046	)	0.7	%	0.4	%
Net Income Available to Common Shareholders	$	22,415		$	8,054		$	19,336		178.3	%	15.9	%
PER COMMON SHARE:
Net income:
Basic	$	0.13		$	0.05		$	0.11		160.0	%	18.2	%
Diluted		0.13			0.05			0.11		160.0	%	18.2	%
Cash dividends	$	0.03		$	0.03		$	0.03		—		—
Shareholders’ equity		9.06			8.50			8.88		6.6	%	2.0	%
Shareholders’ equity (tangible)		5.94			5.33			5.75		11.4	%	3.3	%
Weighted average shares (basic)		176,174			175,315			175,988		0.5	%	0.1	%
Weighted average shares (diluted)		176,681			175,548			176,413		0.6	%	0.2	%
Shares outstanding, end of period		176,509			175,507			176,364		0.6	%	0.1	%
SELECTED FINANCIAL RATIOS:
Return on average assets		0.68	%		0.33	%		0.59	%
Return on average common shareholders’ equity		5.73	%		2.18	%		4.91	%
Return on average common shareholders’ equity (tangible)		9.13	%		3.88	%		7.96	%
Net interest margin		3.78	%		3.45	%		3.67	%
Efficiency ratio		53.77	%		60.95	%		54.61	%

N/M - Not meaningful

3

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)

dollars in thousands

	Quarter Ended
	March 31, 2010								March 31, 2009								December 31, 2009
	Average Balance			Interest (1)			Yield/ Rate		Average Balance			Interest (1)			Yield/ Rate		Average Balance			Interest (1)			Yield/ Rate
ASSETS
Interest-earning assets:
Loans, net of unearned income	$	11,971,786		$	159,424		5.39	%	$	12,041,286		$	163,753		5.51	%	$	11,989,314		$	163,972		5.43	%
Taxable investment securities		2,663,127			28,149		4.23	%		2,212,639			26,849		4.86	%		2,580,754			27,297		4.23	%
Tax-exempt investment securities		387,971			5,531		5.70	%		503,265			6,887		5.47	%		406,088			5,767		5.68	%
Equity securities		141,896			809		2.29	%		137,308			774		2.28	%		144,071			851		2.35	%
Total Investment Securities		3,192,994			34,489		4.33	%		2,853,212			34,510		4.84	%		3,130,913			33,915		4.33	%
Loans held for sale		42,938			556		5.18	%		104,467			1,261		4.83	%		74,438			951		5.11	%
Other interest-earning assets		10,793			25		0.95	%		16,934			50		1.19	%		22,745			56		0.98	%
Total Interest-earning Assets		15,218,511			194,494		5.17	%		15,015,899			199,574		5.38	%		15,217,410			198,894		5.20	%
Noninterest-earning assets:
Cash and due from banks		263,147								317,928								318,472
Premises and equipment		203,584								202,875								203,699
Other assets		1,086,635								924,755								987,094
Less: allowance for loan losses		(273,426	)							(187,183	)							(250,871	)
Total Assets	$	16,498,451							$	16,274,274							$	16,475,804
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities:
Demand deposits	$	1,981,653		$	1,840		0.38	%	$	1,754,003		$	1,776		0.41	%	$	1,969,681		$	2,099		0.42	%
Savings deposits		2,847,427			5,201		0.74	%		2,058,021			4,353		0.86	%		2,772,340			5,546		0.79	%
Time deposits		5,202,975			26,696		2.08	%		5,432,676			43,767		3.27	%		5,415,169			31,454		2.30	%
Total Interest-bearing Deposits		10,032,055			33,737		1.36	%		9,244,700			49,896		2.19	%		10,157,190			39,099		1.53	%
Short-term borrowings		871,981			549		0.25	%		1,517,064			1,436		0.38	%		618,087			584		0.37	%
Federal Home Loan Bank advances and long-term debt		1,484,236			17,792		4.86	%		1,787,493			20,119		4.55	%		1,589,839			19,166		4.78	%
Total Interest-bearing Liabilities		12,388,272			52,078		1.70	%		12,549,257			71,451		2.31	%		12,365,116			58,849		1.89	%
Noninterest-bearing liabilities:
Demand deposits		1,973,146								1,657,658								1,991,210
Other		180,528								201,449								185,817
Total Liabilities		14,541,946								14,408,364								14,542,143
Shareholders’ equity		1,956,505								1,865,910								1,933,661
Total Liabilities and Shareholders’ Equity	$	16,498,451							$	16,274,274							$	16,475,804
Net interest income/net interest margin (fully taxable equivalent)					142,416		3.78	%					128,123		3.45	%					140,045		3.67	%
Tax equivalent adjustment					(3,906	)							(4,007	)							(3,952	)
Net interest income				$	138,510							$	124,116							$	136,093

(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
	March 31 2010		March 31 2009		December 31 2009		March 31 2009		December 31 2009
Loans, by type:
Real estate - commercial mortgage	$	4,306,270	$	4,048,847	$	4,240,436	6.4	%	1.6	%
Commercial - industrial, financial and agricultural		3,686,405		3,655,970		3,713,926	0.8	%	(0.7	%)
Real estate - home equity		1,640,912		1,698,599		1,645,524	(3.4	%)	(0.3	%)
Real estate - construction		962,175		1,229,841		1,018,057	(21.8	%)	(5.5	%)
Real estate - residential mortgage		940,652		957,556		925,660	(1.8	%)	1.6	%
Consumer		362,212		360,919		370,258	0.4	%	(2.2	%)
Leasing and other		73,160		89,554		75,453	(18.3	%)	(3.0	%)
Total Loans, net of unearned income	$	11,971,786	$	12,041,286	$	11,989,314	(0.6	%)	(0.1	%)
Deposits, by type:
Noninterest-bearing demand	$	1,973,146	$	1,657,658	$	1,991,210	19.0	%	(0.9	%)
Interest-bearing demand		1,981,653		1,754,003		1,969,681	13.0	%	0.6	%
Savings deposits		2,847,427		2,058,021		2,772,340	38.4	%	2.7	%
Time deposits		5,202,975		5,432,676		5,415,169	(4.2	%)	(3.9	%)
Total Deposits	$	12,005,201	$	10,902,358	$	12,148,400	10.1	%	(1.2	%)
Short-term borrowings, by type:
Federal funds purchased	$	399,560	$	792,001	$	101,349	(49.6	%)	294.2	%
Customer repurchase agreements		248,982		246,429		260,962	1.0	%	(4.6	%)
Customer short-term promissory notes		223,439		337,069		255,776	(33.7	%)	(12.6	%)
Federal Reserve Bank borrowings and other		—		141,565		—	N/A		—
Total Short-term borrowings	$	871,981	$	1,517,064	$	618,087	(42.5	%)	41.1	%

N/A - Not applicable

4

FULTON FINANCIAL CORPORATION

ASSET QUALITY INFORMATION (UNAUDITED)

dollars in thousands

	Quarter Ended
	March 31 2010			March 31 2009			December 31 2009
ALLOWANCE FOR CREDIT LOSSES:
Balance at beginning of period	$	257,553		$	180,137		$	241,721
Loans charged off:
Real estate - construction		(20,553	)		(12,242	)		(12,017	)
Commercial - industrial, agricultural and financial		(2,981	)		(10,622	)		(10,078	)
Real estate - commercial mortgage		(2,344	)		(3,960	)		(2,055	)
Real estate - residential mortgage and home equity		(1,391	)		(1,937	)		(2,224	)
Consumer		(2,078	)		(2,076	)		(3,103	)
Leasing and other		(645	)		(946	)		(1,366	)
Total loans charged off		(29,992	)		(31,783	)		(30,843	)
Recoveries of loans charged off:
Real estate - construction		315			112			842
Commercial - industrial, agricultural and financial		436			904			25
Real estate - commercial mortgage		128			10			8
Real estate - residential mortgage and home equity		1			1			1
Consumer		552			429			384
Leasing and other		261			253			395
Recoveries of loans previously charged off		1,693			1,709			1,655
Net loans charged off		(28,299	)		(30,074	)		(29,188	)
Provision for loan losses		40,000			50,000			45,020
Balance at end of period	$	269,254		$	200,063		$	257,553
Net charge-offs to average loans (annualized)		0.95	%		1.00	%		0.97	%
NON-PERFORMING ASSETS:
Non-accrual loans	$	242,423		$	198,765		$	238,360
Loans 90 days past due and accruing		43,603			47,284			43,359
Total non-performing loans		286,026			246,049			281,719
Other real estate owned		26,228			23,189			23,309
Total non-performing assets	$	312,254		$	269,238		$	305,028
NON-PERFORMING LOANS, BY TYPE:
Real estate - construction	$	79,527		$	93,425		$	92,841
Commercial - industrial, agricultural and financial		78,365			50,493			69,604
Real estate - commercial mortgage		70,565			59,899			61,052
Real estate - residential mortgage and home equity		42,302			31,365			45,748
Consumer		15,086			10,316			12,319
Leasing		181			551			155
Total non-performing loans	$	286,026		$	246,049		$	281,719
ASSET QUALITY RATIOS:
Non-accrual loans to total loans		2.03	%		1.66	%		1.99	%
Non-performing assets to total loans and OREO		2.60	%		2.24	%		2.54	%
Non-performing assets to total assets		1.90	%		1.63	%		1.83	%
Allowance for credit losses to loans outstanding		2.25	%		1.67	%		2.15	%
Allowance for credit losses to non-performing loans		94.14	%		81.31	%		91.42	%
Non-performing assets to tangible common shareholders’ equity and allowance for credit losses		23.71	%		23.71	%		24.00	%

5