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BRIEF-Fulton Financial Expects To Receive $1 Bln From FDIC As Part Of The Transaction - Conference Call
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BRIEF-Fulton Financial Expects To Receive $1 Bln From FDIC As Part Of The Transaction - Conference Call
Apr 29, 2024 9:10 AM

April 29 (Reuters) - Fulton Financial Corp ( FULT ):

* FULTON FINANCIAL ( FULT ) CEO SAYS EXPECTS DEAL FOR REPUBLIC BANK

TO ADD

20% TO EARNINGS PER SHARE IN 2024 - CONFERENCE CALL

* FULTON FINANCIAL ( FULT ) CEO SAYS TOTAL DEPOSITS FOR FULTON

INCREASED

20% AFTER THE DEAL

* FULTON FINANCIAL SAYS IT EXPECTS TO RECEIVE $1 BILLION

FROM THE

FEDERAL DEPOSIT INSURANCE CORPORATION AS PART OF THE TRANSACTION

* FULTON FINANCIAL SAYS IT WILL BE SELLING A $2 BILLION

REPUBLIC

BANK SECURITIES PORTFOLIO

* FULTON FINANCIAL SAYS THERE IS NO LOSS SHARE AGREEMENT IN

THE

TRANSACTION

* FULTON FINANCIAL EXEC SAYS TOTAL OFFICE LOANS IN REPUBLIC

FIRST'S BOOK IS ABOUT $200 MILLION

* FULTON FINANCIAL EXEC SAYS SECURITIES WERE TRANSFERRED AT

FAIR

VALUE WITH FDIC ASSUMING SOME LOSS

* FULTON FINANCIAL EXEC SAYS CAPITAL RAISE WAS NOT REQUIRED

AND

THE BID WAS NOT CONTINGENT ON CAPITAL

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