Fulton Financial (FULT) 8-K Fulton Financial reports first quarter earnings of $0.17 per share

Exhibit 99.2

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)

dollars in thousands

										% Change from
	March 31 2011			March 31 2010			December 31 2010			March 31 2010			December 31 2010
ASSETS
Cash and due from banks	$	265,353		$	276,200		$	198,954			(3.9	%)		33.4	%
Loans held for sale		30,903			53,798			83,940			(42.6	%)		(63.2	%)
Other interest-earning assets		83,293			7,842			33,297			962.1	%		150.2	%
Investment securities		2,697,434			3,103,628			2,861,484			(13.1	%)		(5.7	%)
Loans, net of unearned income		11,873,208			11,964,840			11,933,307			(0.8	%)		(0.5	%)
Allowance for loan losses		(270,272	)		(264,915	)		(274,271	)		2.0	%		(1.5	%)
Net Loans		11,602,936			11,699,925			11,659,036			(0.8	%)		(0.5	%)
Premises and equipment		208,370			204,149			208,016			2.1	%		0.2	%
Accrued interest receivable		52,878			58,689			53,841			(9.9	%)		(1.8	%)
Goodwill and intangible assets		546,934			551,537			547,979			(0.8	%)		(0.2	%)
Other assets		473,095			455,755			628,707			3.8	%		(24.8	%)
Total Assets	$	15,961,196		$	16,411,523		$	16,275,254			(2.7	%)		(1.9	%)
LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits	$	12,408,610		$	12,156,455		$	12,388,581			2.1	%		0.2	%
Short-term borrowings		414,398			624,650			674,077			(33.7	%)		(38.5	%)
Federal Home Loan Bank advances and long-term debt		1,035,689			1,440,755			1,119,450			(28.1	%)		(7.5	%)
Other liabilities		192,177			219,825			212,757			(12.6	%)		(9.7	%)
Total Liabilities		14,050,874			14,441,685			14,394,865			(2.7	%)		(2.4	%)
Preferred stock		—			370,649			—			(100.0	%)		—
Common shareholders’ equity		1,910,322			1,599,189			1,880,389			19.5	%		1.6	%
Total Shareholders’ Equity		1,910,322			1,969,838			1,880,389			(3.0	%)		1.6	%
Total Liabilities and Shareholders’ Equity	$	15,961,196		$	16,411,523		$	16,275,254			(2.7	%)		(1.9	%)
LOANS, DEPOSITS AND SHORT-TERM BORROWINGS DETAIL:
Loans, by type:
Real estate - commercial mortgage	$	4,392,679		$	4,322,774		$	4,375,980			1.6	%		0.4	%
Commercial - industrial, financial and agricultural		3,692,668			3,684,903			3,704,384			0.2	%		(0.3	%)
Real estate - home equity		1,620,340			1,638,179			1,641,777			(1.1	%)		(1.3	%)
Real estate - residential mortgage		1,022,251			951,381			995,990			7.4	%		2.6	%
Real estate - construction		747,806			937,279			801,185			(20.2	%)		(6.7	%)
Consumer		337,413			361,681			350,161			(6.7	%)		(3.6	%)
Leasing and other		60,051			68,643			63,830			(12.5	%)		(5.9	%)
Total Loans, net of unearned income	$	11,873,208		$	11,964,840		$	11,933,307			(0.8	%)		(0.5	%)
Deposits, by type:
Noninterest-bearing demand	$	2,310,290		$	2,038,199		$	2,194,988			13.3	%		5.3	%
Interest-bearing demand		2,324,988			1,987,791			2,277,190			17.0	%		2.1	%
Savings deposits		3,333,403			2,972,621			3,286,435			12.1	%		1.4	%
Time deposits		4,439,929			5,157,844			4,629,968			(13.9	%)		(4.1	%)
Total Deposits	$	12,408,610		$	12,156,455		$	12,388,581			2.1	%		0.2	%
Short-term borrowings, by type:
Customer repurchase agreements	$	216,705		$	245,265		$	204,800			(11.6	%)		5.8	%
Customer short-term promissory notes		189,408			217,345			201,433			(12.9	%)		(6.0	%)
Federal funds purchased		8,285			162,040			267,844			(94.9	%)		(96.9	%)
Total Short-term borrowings	$	414,398		$	624,650		$	674,077			(33.7	%)		(38.5	%)

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FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

dollars in thousands, except per-share data

	Quarter Ended									% Change from
	Mar 31			Mar 31			Dec 31			Mar 31			Dec 31
	2011			2010			2010			2010			2010
Interest Income:
Interest income	$	175,694		$	190,588		$	181,749			(7.8	%)		(3.3	%)
Interest expense		36,131			52,079			40,856			(30.6	%)		(11.6	%)
Net Interest Income		139,563			138,509			140,893			0.8	%		(0.9	%)
Provision for credit losses		38,000			40,000			40,000			(5.0	%)		(5.0	%)
Net Interest Income after Provision		101,563			98,509			100,893			3.1	%		0.7	%
Other Income:
Service charges on deposit accounts		13,305			14,267			14,091			(6.7	%)		(5.6	%)
Other service charges and fees		11,482			10,165			11,849			13.0	%		(3.1	%)
Investment management and trust services		9,204			8,088			8,826			13.8	%		4.3	%
Mortgage banking income		5,463			4,149			8,857			31.7	%		(38.3	%)
Investment securities gains (losses)		2,285			(2,223	)		194			N/M			1,077.8	%
Other		4,421			3,814			4,915			15.9	%		(10.1	%)
Total Other Income		46,160			38,260			48,732			20.6	%		(5.3	%)
Other Expenses:
Salaries and employee benefits		54,308			52,345			54,955			3.8	%		(1.2	%)
Net occupancy expense		11,366			11,650			10,845			(2.4	%)		4.8	%
FDIC insurance expense		4,754			4,954			4,916			(4.0	%)		(3.3	%)
Data processing		3,372			3,417			3,348			(1.3	%)		0.7	%
Equipment expense		3,132			3,091			2,982			1.3	%		5.0	%
Professional fees		2,849			2,546			2,902			11.9	%		(1.8	%)
Marketing		2,836			1,830			4,461			55.0	%		(36.4	%)
OREO and repossession expense		1,970			2,681			2,848			(26.5	%)		(30.8	%)
Intangible amortization		1,178			1,314			1,292			(10.4	%)		(8.8	%)
Other		15,798			16,194			18,520			(2.4	%)		(14.7	%)
Total Other Expenses		101,563			100,022			107,069			1.5	%		(5.1	%)
Income Before Income Taxes		46,160			36,747			42,556			25.6	%		8.5	%
Income tax expense		12,375			9,267			11,066			33.5	%		11.8	%
Net Income		33,785			27,480			31,490			22.9	%		7.3	%
Preferred stock dividends and discount accretion		—			(5,065	)		—			(100.0	%)		—
Net Income Available to Common Shareholders	$	33,785		$	22,415		$	31,490			50.7	%		7.3	%
PER COMMON SHARE:
Net income:
Basic	$	0.17		$	0.13		$	0.16			30.8	%		6.3	%
Diluted		0.17			0.13			0.16			30.8	%		6.3	%
Cash dividends	$	0.04		$	0.03		$	0.03			33.3	%		33.3	%
Shareholders’ equity		9.59			9.06			9.45			5.8	%		1.5	%
Shareholders’ equity (tangible)		6.84			5.94			6.69			15.2	%		2.2	%
Weighted average shares (basic)		198,599			176,174			198,437			12.7	%		0.1	%
Weighted average shares (diluted)		199,286			176,681			198,999			12.8	%		0.1	%
Shares outstanding, end of period		199,191			176,509			199,050			12.9	%		0.1	%
SELECTED FINANCIAL RATIOS:
Return on average assets		0.85	%		0.68	%		0.77	%
Return on average common shareholders’ equity		7.21	%		5.73	%		6.60	%
Return on average common shareholders’ equity (tangible)		10.36	%		9.13	%		9.54	%
Net interest margin		3.91	%		3.78	%		3.85	%
Efficiency ratio		53.57	%		53.97	%		54.73	%

N/M - Not meaningful

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FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)

dollars in thousands

	Quarter Ended
	March 31, 2011									March 31, 2010									December 31, 2010
	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	$	11,921,442		$	151,686			5.15	%	$	11,971,786		$	159,424			5.39	%	$	11,944,932		$	158,257			5.26	%
Taxable investment securities		2,331,323			21,807			3.75	%		2,663,127			28,149			4.23	%		2,264,784			20,579			3.63	%
Tax-exempt investment securities		344,457			4,885			5.67	%		387,971			5,531			5.70	%		341,909			4,868			5.69	%
Equity securities		132,841			752			2.28	%		141,896			809			2.29	%		136,075			801			2.35	%
Total Investment Securities		2,808,621			27,444			3.91	%		3,192,994			34,489			4.33	%		2,742,768			26,248			3.83	%
Loans held for sale		45,418			500			4.41	%		42,938			556			5.18	%		94,741			947			4.00	%
Other interest-earning assets		66,381			33			0.20	%		10,793			25			0.95	%		187,881			147			0.31	%
Total Interest-earning Assets		14,841,862			179,663			4.90	%		15,218,511			194,494			5.17	%		14,970,322			185,599			4.93	%
Noninterest-earning assets:
Cash and due from banks		260,395									263,147									268,758
Premises and equipment		207,389									203,584									205,740
Other assets		1,102,543									1,086,635									1,135,276
Less: allowance for loan losses		(282,017	)								(273,426	)								(291,541	)
Total Assets	$	16,130,172								$	16,498,451								$	16,288,555
LIABILITIES AND SHAREHOLDERS’ EQUITY
Interest-bearing liabilities:
Demand deposits	$	2,322,098		$	1,436			0.25	%	$	1,981,653		$	1,840			0.38	%	$	2,262,027		$	1,793			0.31	%
Savings deposits		3,282,790			3,358			0.41	%		2,847,427			5,201			0.74	%		3,337,407			4,328			0.51	%
Time deposits		4,532,528			18,492			1.65	%		5,202,975			26,697			2.08	%		4,760,929			20,926			1.74	%
Total Interest-bearing Deposits		10,137,416			23,286			0.93	%		10,032,055			33,738			1.36	%		10,360,363			27,047			1.04	%
Short-term borrowings		622,662			254			0.16	%��		871,981			549			0.25	%		482,197			249			0.20	%
Federal Home Loan Bank advances and long-term debt		1,061,523			12,591			4.78	%		1,484,236			17,792			4.86	%		1,148,009			13,560			4.70	%
Total Interest-bearing Liabilities		11,821,601			36,131			1.24	%		12,388,272			52,079			1.70	%		11,990,569			40,856			1.35	%
Noninterest-bearing liabilities:
Demand deposits		2,238,200									1,973,146									2,219,267
Other		170,930									180,528									186,211
Total Liabilities		14,230,731									14,541,946									14,396,047
Shareholders’ equity		1,899,441									1,956,505									1,892,508
Total Liabilities and Shareholders’ Equity	$	16,130,172								$	16,498,451								$	16,288,555
Net interest income/net interest margin (fully taxable equivalent)					143,532			3.91	%					142,415			3.78	%					144,743			3.85	%
Tax equivalent adjustment					(3,969	)								(3,906	)								(3,850	)
Net interest income				$	139,563								$	138,509								$	140,893

(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		March 31		December 31		March 31			December 31
	2011		2010		2010		2010			2010
Loans, by type:
Real estate - commercial mortgage	$	4,385,072	$	4,306,270	$	4,365,245		1.8	%		0.5	%
Commercial - industrial, financial and agricultural		3,707,081		3,686,405		3,682,949		0.6	%		0.7	%
Real estate - home equity		1,628,550		1,640,912		1,649,111		(0.8	%)		(1.2	%)
Real estate - residential mortgage		1,017,439		940,652		999,814		8.2	%		1.8	%
Real estate - construction		779,556		962,175		818,367		(19.0	%)		(4.7	%)
Consumer		341,247		362,212		360,432		(5.8	%)		(5.3	%)
Leasing and other		62,497		73,160		69,014		(14.6	%)		(9.4	%)
Total Loans, net of unearned income	$	11,921,442	$	11,971,786	$	11,944,932		(0.4	%)		(0.2	%)
Deposits, by type:
Noninterest-bearing demand	$	2,238,200	$	1,973,146	$	2,219,267		13.4	%		0.9	%
Interest-bearing demand		2,322,098		1,981,653		2,262,027		17.2	%		2.7	%
Savings deposits		3,282,790		2,847,427		3,337,407		15.3	%		(1.6	%)
Time deposits		4,532,528		5,202,975		4,760,929		(12.9	%)		(4.8	%)
Total Deposits	$	12,375,616	$	12,005,201	$	12,579,630		3.1	%		(1.6	%)
Short-term borrowings, by type:
Customer repurchase agreements	$	212,931	$	248,982	$	240,548		(14.5	%)		(11.5	%)
Customer short-term promissory notes		190,385		223,439		205,637		(14.8	%)		(7.4	%)
Federal funds purchased		219,346		399,560		36,012		(45.1	%)		509.1	%
Total Short-term borrowings	$	622,662	$	871,981	$	482,197		(28.6	%)		29.1	%

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FULTON FINANCIAL CORPORATION

ASSET QUALITY INFORMATION (UNAUDITED)

dollars in thousands

	Quarter Ended
	Mar 31 2011			Mar 31 2010			Dec 31 2010
ALLOWANCE FOR CREDIT LOSSES:
Balance at beginning of period	$	275,498		$	257,553		$	284,874
Loans charged off:
Real estate - construction		(13,894	)		(20,553	)		(13,421	)
Commercial - industrial, financial and agricultural		(13,336	)		(2,981	)		(12,893	)
Real estate - commercial mortgage		(10,047	)		(2,344	)		(17,688	)
Real estate - residential mortgage		(4,996	)		(1,391	)		(2,874	)
Consumer and home equity		(2,759	)		(2,078	)		(3,440	)
Leasing and other		(497	)		(645	)		(788	)
Total loans charged off		(45,529	)		(29,992	)		(51,104	)
Recoveries of loans charged off:
Real estate - construction		563			315			211
Commercial - industrial, financial and agricultural		391			436			855
Real estate - commercial mortgage		1,535			128			152
Real estate - residential mortgage		44			1			2
Consumer and home equity		310			552			254
Leasing and other		344			261			254
Recoveries of loans previously charged off		3,187			1,693			1,728
Net loans charged off		(42,342	)		(28,299	)		(49,376	)
Provision for credit losses		38,000			40,000			40,000
Balance at end of period	$	271,156		$	269,254		$	275,498
Net charge-offs to average loans (annualized)		1.42	%		0.95	%		1.65	%
NON-PERFORMING ASSETS:
Non-accrual loans	$	280,270		$	242,423		$	280,688
Loans 90 days past due and accruing		37,768			43,603			48,084
Total non-performing loans		318,038			286,026			328,772
Other real estate owned		37,044			26,228			32,959
Total non-performing assets	$	355,082		$	312,254		$	361,731
NON-PERFORMING LOANS, BY TYPE:
Real estate - commercial mortgage	$	97,305		$	70,565		$	93,720
Commercial - industrial, financial and agricultural		86,050			78,365			87,455
Real estate - construction		72,880			79,527			84,616
Real estate - residential mortgage		49,998			42,302			50,412
Real estate - home equity		9,314			12,769			10,188
Consumer		2,258			2,317			2,154
Leasing		233			181			227
Total non-performing loans	$	318,038		$	286,026		$	328,772

DELINQUENCY RATES, BY TYPE:

	March 31, 2011									March 31, 2010									December 31, 2010
	31-89 Days			³90 Days  (1)			Total			31-89 Days			³90 Days (1)			Total			31-89 Days			³90 Days (1)			Total
Real estate - commercial mortgage		0.66	%		2.21	%		2.87	%		1.37	%		1.63	%		3.00	%		0.56	%		2.14	%		2.70	%
Commercial - industrial, financial and agricultural		0.50	%		2.33	%		2.83	%		0.71	%		2.13	%		2.84	%		0.36	%		2.36	%		2.72	%
Real estate - construction		0.56	%		9.75	%		10.31	%		2.18	%		8.49	%		10.67	%		0.91	%		10.56	%		11.47	%
Real estate - residential mortgage		3.47	%		4.89	%		8.36	%		3.57	%		4.45	%		8.02	%		3.65	%		5.06	%		8.71	%
Real estate - home equity		0.74	%		0.57	%		1.31	%		0.87	%		0.76	%		1.63	%		0.73	%		0.62	%		1.35	%
Consumer, leasing and other		1.26	%		0.64	%		1.90	%		1.28	%		0.66	%		1.94	%		1.48	%		0.58	%		2.06	%
Total		0.88	%		2.67	%		3.55	%		1.33	%		2.39	%		3.72	%		0.83	%		2.76	%		3.59	%

(1) Includes non-accrual loans

ASSET QUALITY RATIOS:

	Mar 31			Mar 31			Dec 31
	2011			2010			2010
Non-accrual loans to total loans		2.36	%		2.03	%		2.35	%
Non-performing assets to total loans and OREO		2.98	%		2.60	%		3.02	%
Non-performing assets to total assets		2.22	%		1.90	%		2.22	%
Allowance for credit losses to loans outstanding		2.28	%		2.25	%		2.31	%
Allowance for credit losses to non-performing loans		85.26	%		94.14	%		83.80	%
Non-performing assets to tangible common shareholders’ equity and allowance for credit losses		21.72	%		23.71	%		22.50	%

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