{"success":true,"data":{"pressRelease":{"id":"17644","rtpr_id":"nPn29kjBLa","ticker":"FULT","exchange":"NASDAQ","all_tickers":["FULT"],"title":"Fulton Financial Corporation Announces Pricing of Subordinated Notes Offering","author":"PR Newswire","published_at":"2026-05-01T21:17:27.795Z","article_body":"Fulton Financial Corporation Announces Pricing of Subordinated Notes Offering\n\nPR Newswire\n\nLANCASTER, Pa., May 1, 2026\n\nLANCASTER, Pa., May 1, 2026 /PRNewswire/ -- Fulton Financial Corporation\n(Nasdaq: FULT) (\"Fulton\") today announced the pricing of its underwritten\npublic offering of $300 million aggregate principal amount of its\nFixed-to-Floating Rate Subordinated Notes due 2036 (the \"Notes\"). The Notes\nwill bear interest from and including May 5, 2026 to, but excluding, May 15,\n2031, at a fixed rate of 5.950% per annum, payable semi-annually in arrears.\nFrom and including May 15, 2031 to, but excluding, May 15, 2036 (unless\nredeemed prior to such date), the Notes will bear interest at a floating rate\nper annum equal to the Three-Month Term SOFR, plus 217 basis points, payable\nquarterly in arrears.\n\n(https://mma.prnewswire.com/media/2442077/Fulton_Financial_Corporation__Logo.html)\n\nThe Notes may be redeemed, at the option of Fulton, beginning on May 15, 2031,\nand on any date thereafter, in whole or in part, at a redemption price equal\nto 100% of the principal amount of the Notes to be redeemed, plus accrued and\nunpaid interest to, but excluding, the date of redemption.\n\nFulton intends to use the net proceeds from this offering to repay $195\nmillion aggregate principal amount of its outstanding 3.250% Fixed-to-Floating\nRate Subordinated Notes due 2030 and for general corporate purposes. The\noffering is expected to close on or about May 5, 2026, subject to customary\nclosing conditions.\n\nPiper Sandler and J.P. Morgan acted as joint book-running managers in the\nNotes offering.\n\nThe Notes are being offered pursuant to an effective registration statement\n(File No. 333-289488) which Fulton filed with the Securities and Exchange\nCommission (the \"SEC\") by means of a prospectus supplement and accompanying\nbase prospectus.\n\nCopies of the prospectus supplement and accompanying base prospectus relating\nto the offering of the Notes can be obtained without charge by visiting the\nSEC's website at www.sec.gov (http://www.sec.gov) , or may be obtained from:\nPiper Sandler & Co., at 1251 Avenue of the Americas, 6th Floor, New York,\nNew York 10020, Attn: Syndicate Operations, by email at fsg-dcm@psc.com\n(mailto:fsg-dcm@psc.com) , or by calling 1 (866) 805-4128 or J.P. Morgan\nSecurities LLC, at 270 Park Avenue, New York, New York 10017, or by calling 1\n(212) 834-4533.\n\nThis press release shall not constitute an offer to sell or the solicitation\nof an offer to buy, nor shall there be any sale of the Notes in any state or\njurisdiction in which such offer, solicitation or sale would be unlawful prior\nto registration or qualification under the securities laws of any such state\nor jurisdiction.\n\nAbout Fulton Financial Corporation\n\nFulton, a $34 billion Lancaster, Pa.-based financial holding company, has more\nthan 3,500 employees and operates more than 200 financial centers in\nPennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank,\nN.A. and Blue Foundry Bank. Additional information on Fulton can be found\nat https://investor.fultonbank.com.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe federal securities laws. Do not unduly rely on forward-looking statements.\nForward-looking statements can be identified by the use of words such as\n\"may,\" \"should,\" \"will,\" \"could,\" \"estimates,\" \"predicts,\" \"potential,\"\n\"continue,\" \"anticipates,\" \"believes,\" \"plans,\" \"expects,\" \"future,\"\n\"intends,\" \"projects,\" the negative of these terms and other comparable\nterminology. These forward-looking statements include statements regarding the\noffering of the Notes and Fulton's redemption of its outstanding 3.250%\nFixed-to-Floating Rate Subordinated Notes due 2030. Fulton may be unable to\nclose the offering on the anticipated date, or at all. There can be no\nguarantee that Fulton will redeem the 3.250% Fixed-to-Floating Rate\nSubordinated Notes due 2030 in full, in part or at all.\n\nForward-looking statements are neither historical facts nor assurance of\nfuture performance. Instead, the statements are based on current beliefs,\nexpectations and assumptions regarding the future of Fulton's business, future\nplans and strategies, projections, anticipated events and trends, the economy\nand other future conditions. Because forward-looking statements relate to the\nfuture, they are subject to inherent uncertainties, risks and changes in\ncircumstances that are difficult to predict and many of which are outside of\nFulton's control, and actual results and financial condition may differ\nmaterially from those indicated in the forward-looking statements. You should\nnot unduly rely on any of these forward-looking statements. Any\nforward-looking statement is based only on information currently available and\nspeaks only as of the date when made. Fulton undertakes no obligation, other\nthan as required by law, to update or revise any forward-looking statements,\nwhether as a result of new information, future events or otherwise.\n\nA discussion of certain risks and uncertainties affecting Fulton, and some of\nthe factors that could cause Fulton's actual results to differ materially from\nthose described in the forward-looking statements, can be found in Fulton's\nAnnual Report on Form 10-K for the year ended December 31, 2025, which is\naccessible on the SEC's website at www.sec.gov (http://www.sec.gov) and in the\nInvestor Relations section of Fulton's website at www.fultonbank.com\n(http://www.fultonbank.com) , and in other documents Fulton files with the\nSEC. Information on these websites is not part of this document.\n\nInvestor Relations Contact: Pat Lafferty\n(717) 327-2556\n\nMedia Contact: Lacey Dean\n(717) 735-8688\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/fulton-financial-corporation-announces-pricing-of-subordinated-notes-offering-302760489.html\n(https://www.prnewswire.com/news-releases/fulton-financial-corporation-announces-pricing-of-subordinated-notes-offering-302760489.html)\n\nSOURCE Fulton Financial Corporation\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2442077/Fulton_Financial_Corporation__Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn29kjBLa","title":"Fulton Financial Corporation Announces Pricing of Subordinated Notes Offering","author":"PR Newswire","ticker":"FULT","created":"2026-05-01T21:17:27.795Z","tickers":["FULT"],"exchange":"NASDAQ","article_body":"Fulton Financial Corporation Announces Pricing of Subordinated Notes Offering\n\nPR Newswire\n\nLANCASTER, Pa., May 1, 2026\n\nLANCASTER, Pa., May 1, 2026 /PRNewswire/ -- Fulton Financial Corporation\n(Nasdaq: FULT) (\"Fulton\") today announced the pricing of its underwritten\npublic offering of $300 million aggregate principal amount of its\nFixed-to-Floating Rate Subordinated Notes due 2036 (the \"Notes\"). The Notes\nwill bear interest from and including May 5, 2026 to, but excluding, May 15,\n2031, at a fixed rate of 5.950% per annum, payable semi-annually in arrears.\nFrom and including May 15, 2031 to, but excluding, May 15, 2036 (unless\nredeemed prior to such date), the Notes will bear interest at a floating rate\nper annum equal to the Three-Month Term SOFR, plus 217 basis points, payable\nquarterly in arrears.\n\n(https://mma.prnewswire.com/media/2442077/Fulton_Financial_Corporation__Logo.html)\n\nThe Notes may be redeemed, at the option of Fulton, beginning on May 15, 2031,\nand on any date thereafter, in whole or in part, at a redemption price equal\nto 100% of the principal amount of the Notes to be redeemed, plus accrued and\nunpaid interest to, but excluding, the date of redemption.\n\nFulton intends to use the net proceeds from this offering to repay $195\nmillion aggregate principal amount of its outstanding 3.250% Fixed-to-Floating\nRate Subordinated Notes due 2030 and for general corporate purposes. The\noffering is expected to close on or about May 5, 2026, subject to customary\nclosing conditions.\n\nPiper Sandler and J.P. Morgan acted as joint book-running managers in the\nNotes offering.\n\nThe Notes are being offered pursuant to an effective registration statement\n(File No. 333-289488) which Fulton filed with the Securities and Exchange\nCommission (the \"SEC\") by means of a prospectus supplement and accompanying\nbase prospectus.\n\nCopies of the prospectus supplement and accompanying base prospectus relating\nto the offering of the Notes can be obtained without charge by visiting the\nSEC's website at www.sec.gov (http://www.sec.gov) , or may be obtained from:\nPiper Sandler & Co., at 1251 Avenue of the Americas, 6th Floor, New York,\nNew York 10020, Attn: Syndicate Operations, by email at fsg-dcm@psc.com\n(mailto:fsg-dcm@psc.com) , or by calling 1 (866) 805-4128 or J.P. Morgan\nSecurities LLC, at 270 Park Avenue, New York, New York 10017, or by calling 1\n(212) 834-4533.\n\nThis press release shall not constitute an offer to sell or the solicitation\nof an offer to buy, nor shall there be any sale of the Notes in any state or\njurisdiction in which such offer, solicitation or sale would be unlawful prior\nto registration or qualification under the securities laws of any such state\nor jurisdiction.\n\nAbout Fulton Financial Corporation\n\nFulton, a $34 billion Lancaster, Pa.-based financial holding company, has more\nthan 3,500 employees and operates more than 200 financial centers in\nPennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank,\nN.A. and Blue Foundry Bank. Additional information on Fulton can be found\nat https://investor.fultonbank.com.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe federal securities laws. Do not unduly rely on forward-looking statements.\nForward-looking statements can be identified by the use of words such as\n\"may,\" \"should,\" \"will,\" \"could,\" \"estimates,\" \"predicts,\" \"potential,\"\n\"continue,\" \"anticipates,\" \"believes,\" \"plans,\" \"expects,\" \"future,\"\n\"intends,\" \"projects,\" the negative of these terms and other comparable\nterminology. These forward-looking statements include statements regarding the\noffering of the Notes and Fulton's redemption of its outstanding 3.250%\nFixed-to-Floating Rate Subordinated Notes due 2030. Fulton may be unable to\nclose the offering on the anticipated date, or at all. There can be no\nguarantee that Fulton will redeem the 3.250% Fixed-to-Floating Rate\nSubordinated Notes due 2030 in full, in part or at all.\n\nForward-looking statements are neither historical facts nor assurance of\nfuture performance. Instead, the statements are based on current beliefs,\nexpectations and assumptions regarding the future of Fulton's business, future\nplans and strategies, projections, anticipated events and trends, the economy\nand other future conditions. Because forward-looking statements relate to the\nfuture, they are subject to inherent uncertainties, risks and changes in\ncircumstances that are difficult to predict and many of which are outside of\nFulton's control, and actual results and financial condition may differ\nmaterially from those indicated in the forward-looking statements. You should\nnot unduly rely on any of these forward-looking statements. Any\nforward-looking statement is based only on information currently available and\nspeaks only as of the date when made. Fulton undertakes no obligation, other\nthan as required by law, to update or revise any forward-looking statements,\nwhether as a result of new information, future events or otherwise.\n\nA discussion of certain risks and uncertainties affecting Fulton, and some of\nthe factors that could cause Fulton's actual results to differ materially from\nthose described in the forward-looking statements, can be found in Fulton's\nAnnual Report on Form 10-K for the year ended December 31, 2025, which is\naccessible on the SEC's website at www.sec.gov (http://www.sec.gov) and in the\nInvestor Relations section of Fulton's website at www.fultonbank.com\n(http://www.fultonbank.com) , and in other documents Fulton files with the\nSEC. Information on these websites is not part of this document.\n\nInvestor Relations Contact: Pat Lafferty\n(717) 327-2556\n\nMedia Contact: Lacey Dean\n(717) 735-8688\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/fulton-financial-corporation-announces-pricing-of-subordinated-notes-offering-302760489.html\n(https://www.prnewswire.com/news-releases/fulton-financial-corporation-announces-pricing-of-subordinated-notes-offering-302760489.html)\n\nSOURCE Fulton Financial Corporation\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2442077/Fulton_Financial_Corporation__Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-01T21:17:27.83802863Z","server_sent_at_ms":1777670247838},"received_at":"2026-05-01T21:17:27.890Z","source_url":"https://www.prnewswire.com/news-releases/fulton-financial-corporation-announces-increased-common-stock-dividend-preferred-stock-dividend-and-150-million-repurchase-program-302643888.html"},"analysis":{"id":"12918","press_release_id":"17644","analysis_json":{"industry":{"label":"Banks","sector":"Financials"},"redFlags":["Refinancing lower-cost debt (3.250%) with significantly higher-cost debt (5.950%) will increase interest expenses."],"eventType":"offering","narrative":"Fulton Financial Corporation priced a $300 million public offering of Fixed-to-Floating Rate Subordinated Notes due 2036, featuring a fixed rate of 5.950% for the first five years.\n\nThe company intends to use the net proceeds to repay $195 million of its outstanding 3.250% notes due 2030, with the remainder funding general corporate purposes.\n\nPiper Sandler and J.P. Morgan acted as joint book-running managers for the offering, which is expected to close on May 5, 2026.","sentiment":"bearish","agentHooks":{"shouldPost":false,"suggestedAngle":"Debt refinancing comes at a steep price hike, pressuring future net interest margins."},"keyFigures":{"dealValueUsd":300000000,"customDimensions":{"spread_bps":217,"coupon_fixed":"5.950%"}},"quotedText":"","namedEntities":{"people":[{"name":"Pat Lafferty","role":"Investor Relations Contact"},{"name":"Lacey Dean","role":"Media Contact"}],"products":["Fixed-to-Floating Rate Subordinated Notes due 2036","3.250% Fixed-to-Floating Rate Subordinated Notes due 2030"],"companies":[{"name":"Piper Sandler","relationship":"joint book-running manager"},{"name":"J.P. Morgan","relationship":"joint book-running manager"}],"dollarAmounts":[{"amount":"$300 million","context":"aggregate principal amount of Notes offering"},{"amount":"$195 million","context":"principal amount of outstanding notes to be repaid"}]},"materialImpact":{"score":2,"reasoning":"Routine debt refinancing transaction; however, the replacement of 3.25% notes with 5.95% notes indicates a significant increase in cost of capital which will negatively impact net interest income."},"tickerRelevance":{"others":[],"primary":"FULT"},"globalImportance":25,"audienceRelevance":30,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"regional-bank","eventGravity":"debt-refinancing","sectorWeight":"financials"}},"event_type":"offering","event_type_secondary":null,"sentiment":"bearish","material_impact_score":2,"narrative":"Fulton Financial Corporation priced a $300 million public offering of Fixed-to-Floating Rate Subordinated Notes due 2036, featuring a fixed rate of 5.950% for the first five years.\n\nThe company intends to use the net proceeds to repay $195 million of its outstanding 3.250% notes due 2030, with the remainder funding general corporate purposes.\n\nPiper Sandler and J.P. Morgan acted as joint book-running managers for the offering, which is expected to close on May 5, 2026.","key_figures":{"dealValueUsd":300000000,"customDimensions":{"spread_bps":217,"coupon_fixed":"5.950%"}},"named_entities":{"people":[{"name":"Pat Lafferty","role":"Investor Relations Contact"},{"name":"Lacey Dean","role":"Media Contact"}],"products":["Fixed-to-Floating Rate Subordinated Notes due 2036","3.250% Fixed-to-Floating Rate Subordinated Notes due 2030"],"companies":[{"name":"Piper Sandler","relationship":"joint book-running manager"},{"name":"J.P. Morgan","relationship":"joint book-running manager"}],"dollarAmounts":[{"amount":"$300 million","context":"aggregate principal amount of Notes offering"},{"amount":"$195 million","context":"principal amount of outstanding notes to be repaid"}]},"model_name":"glm-4.7","prompt_hash":"sha256:a2703c5a1b5285fe","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-05-01T21:21:39.909Z","global_importance":25,"audience_relevance":30,"importance_components":{"tickerTier":"regional-bank","eventGravity":"debt-refinancing","sectorWeight":"financials"}},"durationMs":183841,"modelName":"glm-4.7"}}