LANCASTER, Pa., May 1, 2026 /PRNewswire/ -- Fulton Financial Corporation (Nasdaq: FULT) ("Fulton") today announced the pricing of its underwritten public offering of $300 million aggregate principal amount of its Fixed-to-Floating Rate Subordinated Notes due 2036 (the "Notes"). The Notes will bear interest from and including May 5, 2026 to, but excluding, May 15, 2031, at a fixed rate of 5.950% per annum, payable semi-annually in arrears. From and including May 15, 2031 to, but excluding, May 15, 2036 (unless redeemed prior to such date), the Notes will bear interest at a floating rate per annum equal to the Three-Month Term SOFR, plus 217 basis points, payable quarterly in arrears.
The Notes may be redeemed, at the option of Fulton, beginning on May 15, 2031, and on any date thereafter, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption.
Fulton intends to use the net proceeds from this offering to repay $195 million aggregate principal amount of its outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030 and for general corporate purposes. The offering is expected to close on or about May 5, 2026, subject to customary closing conditions.
Piper Sandler and J.P. Morgan acted as joint book-running managers in the Notes offering.
The Notes are being offered pursuant to an effective registration statement (File No. 333-289488) which Fulton filed with the Securities and Exchange Commission (the "SEC") by means of a prospectus supplement and accompanying base prospectus.
Copies of the prospectus supplement and accompanying base prospectus relating to the offering of the Notes can be obtained without charge by visiting the SEC's website at www.sec.gov, or may be obtained from: Piper Sandler & Co., at 1251 Avenue of the Americas, 6th Floor, New York, New York 10020, Attn: Syndicate Operations, by email at fsg-dcm@psc.com, or by calling 1 (866) 805-4128 or J.P. Morgan Securities LLC, at 270 Park Avenue, New York, New York 10017, or by calling 1 (212) 834-4533.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Fulton Financial Corporation
Fulton, a $34 billion Lancaster, Pa.-based financial holding company, has more than 3,500 employees and operates more than 200 financial centers in Pennsylvania, New Jersey, Maryland, Delaware and Virginia through Fulton Bank, N.A. and Blue Foundry Bank. Additional information on Fulton can be found at https://investor.fultonbank.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements include statements regarding the offering of the Notes and Fulton's redemption of its outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030. Fulton may be unable to close the offering on the anticipated date, or at all. There can be no guarantee that Fulton will redeem the 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030 in full, in part or at all.
Forward-looking statements are neither historical facts nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of Fulton's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Fulton's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. You should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. Fulton undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
A discussion of certain risks and uncertainties affecting Fulton, and some of the factors that could cause Fulton's actual results to differ materially from those described in the forward-looking statements, can be found in Fulton's Annual Report on Form 10-K for the year ended December 31, 2025, which is accessible on the SEC's website at www.sec.gov and in the Investor Relations section of Fulton's website at www.fultonbank.com, and in other documents Fulton files with the SEC. Information on these websites is not part of this document.
Investor Relations Contact: Pat Lafferty
(717) 327-2556
Media Contact: Lacey Dean
(717) 735-8688
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SOURCE Fulton Financial Corporation
