Attached files
| file | filename |
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| 8-K - ANNUAL MEETING SLIDES - FULTON FINANCIAL CORP | f8k.htm |
1
Annual Shareholders Meeting
April 30, 2010
2
Forward-looking statement
l The Corporation has made, and may continue to make, certain forward-looking statements with respect to
its financial conditions and results of operations.
its financial conditions and results of operations.
l Many factors could affect future financial results, including without limitation: asset quality and the impact
of adverse changes in the economy and in credit or other markets and resulting effects on credit risk and
asset values; acquisition and growth strategies; market risk; changes or adverse developments in
economic, political, or regulatory conditions; a continuation or worsening of the current disruption in credit
and other markets, including the lack of or reduced access to, and the abnormal functioning of, markets for
mortgages and other asset-backed securities and for commercial paper and other short-term borrowings;
changes in the levels of Federal Deposit Insurance Corporation deposit insurance premiums and
assessments; the effect of competition and interest rates on net interest margin and net interest income;
investment strategy and income growth; investment securities gains and losses; declines in the value of
securities which may result in charges to earnings; changes in rates of deposit and loan growth or a
decline in loans originated; balances of risk-sensitive assets to risk-sensitive liabilities; salaries and
employee benefits and other expenses; amortization of intangible assets; goodwill impairment; capital and
liquidity strategies and other financial and business matters for future periods.
of adverse changes in the economy and in credit or other markets and resulting effects on credit risk and
asset values; acquisition and growth strategies; market risk; changes or adverse developments in
economic, political, or regulatory conditions; a continuation or worsening of the current disruption in credit
and other markets, including the lack of or reduced access to, and the abnormal functioning of, markets for
mortgages and other asset-backed securities and for commercial paper and other short-term borrowings;
changes in the levels of Federal Deposit Insurance Corporation deposit insurance premiums and
assessments; the effect of competition and interest rates on net interest margin and net interest income;
investment strategy and income growth; investment securities gains and losses; declines in the value of
securities which may result in charges to earnings; changes in rates of deposit and loan growth or a
decline in loans originated; balances of risk-sensitive assets to risk-sensitive liabilities; salaries and
employee benefits and other expenses; amortization of intangible assets; goodwill impairment; capital and
liquidity strategies and other financial and business matters for future periods.
l Do not unduly rely on forward-looking statements. You can identify forward-looking statements by the use
of words such as “may,” “should,” “will,” “could,” “estimates,” “predicts,” “potential,” “continue,”
“anticipates,” “believes,” “plans,” “expects,” “future” and “intends” and similar expressions which are
intended to identify forward-looking statements.
of words such as “may,” “should,” “will,” “could,” “estimates,” “predicts,” “potential,” “continue,”
“anticipates,” “believes,” “plans,” “expects,” “future” and “intends” and similar expressions which are
intended to identify forward-looking statements.
l These statements are not guarantees of future performance and are subject to risks, uncertainties and
other factors, some of which are beyond our control and difficult to predict and could cause actual results
to differ materially from those expressed or forecasted in the forward-looking statements. The Corporation
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.
other factors, some of which are beyond our control and difficult to predict and could cause actual results
to differ materially from those expressed or forecasted in the forward-looking statements. The Corporation
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.
3
Today’s meeting
• Tape recorders and cameras are not permitted
in the meeting.
in the meeting.
• The display of placards and signs is prohibited.
• Please be considerate of others -- silence or
turn off your cell phone during the meeting.
turn off your cell phone during the meeting.
• Any questions and comments should be
directed to the chairperson of the meeting
during the Question and Answer period.
Please remember to state your name prior to
asking your question.
directed to the chairperson of the meeting
during the Question and Answer period.
Please remember to state your name prior to
asking your question.
4
Annual Shareholders Meeting
April 30, 2010
5
Scott Smith
Chairman and CEO
Chairman and CEO
Welcome and Opening Remarks
6
Today’s agenda
• Business Meeting
– Proposals:
• Election of directors
• Approval of management compensation
• Ratification of appointment of independent auditor
– Introductions
– Results of Voting
– Conclusion of Business Meeting
• Management Presentation
• Questions and Answers
www.fult.com
8
Annual Shareholders Meeting
April 30, 2010
9
Board of Directors
10
Jeffrey G. Albertson, Esq.
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John M. Bond, Jr.
12
Donald M. Bowman, Jr.
13
Dana A. Chryst
14
Hon. Craig A. Dally
15
Patrick J. Freer
16
Rufus A. Fulton, Jr.
17
George W. Hodges
18
Willem Kooyker
19
Donald W. Lesher, Jr.
20
John O. Shirk, Esq.
21
Gary A. Stewart
22
Phil Wenger
23
Senior Management
24
Charlie Nugent
25
Jim Shreiner
26
Craig Hill
27
Craig Roda
28
Scott Kintzing
29
CEOs and Presidents
30
Jill Carson
31
Dick Grafmyre
32
Dave Hanson
33
Steve Miller
34
Curt Myers
35
Gerry Nau
36
John Scaldara
37
Angela Snyder
38
Randy Taylor
39
Mike Wimer
40
Report of Judge of Election
41
Annual Shareholders Meeting
April 30, 2010
42
Management Presentation
43
Forbes Magazine
• Fulton Financial named one of the nation’s
“100 Most Trustworthy Companies”
“100 Most Trustworthy Companies”
• Selected from over 8,000 publicly held
companies
companies
• The only bank included in
Large-Cap or Mid-Cap
company lists
Large-Cap or Mid-Cap
company lists
• One of only four banks
on entire list
on entire list
The Fulton Financial Team
45
Management Presentation
46
Milestones of 2009
47
Protecting the company
• Preserving capital
through uncertain
and unstable times
through uncertain
and unstable times
48
Quarterly cash dividend
• Very important to
shareholders
shareholders
• Needed to retain more
earnings
earnings
• Reduced, but
preserved, the dividend
preserved, the dividend
• Look to increase this in
the future
the future
49
Reducing expenses
• 2007/2008 consolidations =
2009 benefits
2009 benefits
50
Maryland mergers
Fulton Financial Corporation - 2010
52
Weathering the storm
• Increased FDIC
assessment
assessment
• Significant stock
price decrease
price decrease
• Loan losses beyond
our historical
performance
our historical
performance
53
Loan quality
• Credit issues - major challenge in 2009
• Worked to
address issues early
address issues early
• Managing commercial
real estate portfolio
carefully
real estate portfolio
carefully
54
Loan activity
• We are lending!
• Some credit-worthy
customers did not
want to borrow
customers did not
want to borrow
• Despite this,
loans increased slightly
loans increased slightly
55
Customer experience
WE WILL:
• Care
• Listen
• Understand
• Deliver
56
Measurement
• A variety of measurement systems in
place
place
• Measure key drivers of customer
satisfaction
satisfaction
• Strong results, and working to make
them even stronger
them even stronger
57
Market share growth
• Market share increased in
36 out of 53 counties served
in our five-state market
36 out of 53 counties served
in our five-state market
• Market share increased
in 27 out of 31 counties served
in PA, MD, and DE
in 27 out of 31 counties served
in PA, MD, and DE
58
Market share growth
Due to:
• Superior customer experience
• Business development efforts
• Customer segmentation
• Marketing/promotions
59
Our Brand: Listening is just the beginning.
COMMUNITY BANKING
SMALL BUSINESS
HIGH NET WORTH
RETAIL BANKING
60
Investments in our future
• Completion of major
technology initiatives
technology initiatives
• Creation of the
“School of Promise”
“School of Promise”
• New branches opened
• Added focus on small business
• Relationship rewards
61
Milestones of 2009
62
Special Video Presentation
“My Journey”
Words from our employees
63
Milestones of 2009
64
Management Presentation
65
Headed in the right direction
December 31, 2009:
¨ Gain of $53.8 million (31 cents per share)
66
Stock price
4/30/09
$6.50
4/28/10
$10.95
Source: Yahoo! Inc.
First quarter 2010 earnings
Net income:
• Up 18 percent
over previous
quarter
over previous
quarter
• Up 178 percent
over first
quarter of
2009
over first
quarter of
2009
68
Capital
|
FFC with
Cap. Purch.
|
|
14.70%
|
|
11.90%
|
|
9.70%
|
|
6.30%
|
Tangible Common Equity
Leverage Capital
Tier 1 Risk-Based Capital
Total Risk-Based Capital
Ratio:
5.00%
6.00%
10.00%
Regulatory Well
Capitalized
Capitalized
|
FFC without
Cap. Purch.
|
|
11.80%
|
|
9.00%
|
|
7.30%
|
|
6.30%
|
69
Management Presentation
70
Questions and answers
Please remember to:
• Use the microphones in front of room
• Ask only one question to give other
shareholders a chance
shareholders a chance
• State your name before you ask your
question
question
71
Annual Shareholders Meeting
April 30, 2010