Fulton Financial sees NIM down 3-5bps over FY19 vs. FY18
Fulton Financial said in slides being presented on its Q3 earnings conference call that it sees average annual loan and deposit growth in the low to mid single digits for FY19. The company sees a low single digit growth rate for net interest income, vs. its previous outlook of mid single digits, and a decrease of 3-5bps for net interest margin over the full year 2019 vs. 2018. The company sees non-interest income up at a high 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%.