Fulton Financial Q4 net income $38.5 million
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For the year ended December 31, 2015, net interest income decreased $14.9 million.
For the year ended December 31, 2015, diluted earnings per share was 85 cents, a 1.2 percent increase from 84 cents in 2014.
Net interest income for the fourth quarter of 2015 increased $2.1 million, or 1.7 percent, compared to the third quarter of 2015, while the net interest margin increased one basis point to 3.19 percent.
For the year ended December 31, 2015, net interest income decreased $14.9 million, or 2.9 percent, compared to 2014, while the net interest margin decreased 18 basis points to 3.21 percent.
Loans at December 31, 2015 increased $302.2 million, or 2.2 percent, compared to September 30, 2015 and $726.9 million, or 5.5 percent, compared to December 31, 2014.
Average loans for the fourth quarter of 2015 increased 2.2 percent and 4.6 percent, compared to the third quarter of 2015 and the fourth quarter of 2014, respectively. For the year ended December 31, 2015, average loans increased $445.8 million, or 3.5 percent, compared to 2014.
Deposits at December 31, 2015 increased $47.9 million, or 0.3 percent, compared to September 30, 2015 and $764.8 million, or 5.7 percent, compared to the December 31, 2014.
Average deposits for the fourth quarter of 2015 increased 2.3 percent and 6.6 percent, compared to the third quarter of 2015 and the fourth quarter of 2014, respectively. For the year ended December 31, 2015, average deposits increased $879.5 million, or 6.8 percent, compared to 2014.
The provision for credit losses in the fourth quarter of 2015 was $2.8 million, compared to a $1.0 million provision in the third quarter of 2015 and a $3.0 million provision in the fourth quarter of 2014. For the year ended December 31, 2015, the provision for credit losses was $2.3 million, a decrease of $10.3 million from 2014.
Non-interest income, excluding investment securities gains, increased $2.0 million, or 4.7 percent, in comparison to the third quarter of 2015, and increased $3.8 million, or 9.2 percent, in comparison to the fourth quarter of 2014. For the year ended December 31, 2015, noninterest income, excluding investment securities gains, increased $7.4 million, or 4.5 percent.
Non-interest expense, excluding the loss on redemption of trust preferred securities, decreased $824,000, or 0.7 percent, compared to the third quarter of 2015 and increased $719,000, or 0.6 percent, compared to the fourth quarter of 2014.
For the year ended December 31, 2015, noninterest expense, excluding the loss on redemption of trust preferred securities, increased $15.3 million, or 3.3%, compared to 2014. ■