Fulton Financial Corp Reports Q1 2023 Net Income of $68.3 Million

Fulton Financial Corp,(FULT) a leading financial service s company, released its financial statements for the first quarter of 2023, showcasing a solid performance amidst prevailing market challenges. The company reported a net income of $68.3 million for the quarter, demonstrating its resilience in navigating the current economic landscape. Additionally, the revenue figures were also impressive, with the company recording total revenue of $289.8 million during the same period.

Let's delve into the details of Fulton Financial Corp's financial results for Q1 2023:

Consolidated Balance Sheets

The company's total assets as of March 31, 2023, stood at $27.11 billion, slightly up from $26.93 billion as of December 31, 2022. Cash and cash equivalents, including interest-bearing deposits with other banks, were reported at $566.8 million, compared to $681.9 million in the previous quarter. The investment securities held by Fulton Financial Corp reached $3.95 billion, of which $2.64 billion were marked as available-for-sale at estimated fair value, and $1.31 billion were held-to-maturity at amortized cost.