Fulton Financial sees NIM up 2-5bps per quarter in 2019
Fulton Financial said in slides being presented on its Q2 earnings conference call that it sees average annual loan and deposit growth rates in the low to mid single digits for FY19. The company sees a mid single digit growth rate for net interest income, vs. its previous outlook of mid to high single digits, and an increase of 2-5 basis points per quarter in 2019 for net interest margin, vs. its previous outlook of 4-7bps. The company sees non-interest income up at a mid single digit growth rate and non-interest expense up at a low single digit growth rate. It sees asset quality at $3M-$8M provision for credit losses per quarter and expects capital levels to remain consistent with December 31, 2018. Fulton sees effective tax rate between 14% and 16%.