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NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, reminds investors about a class action lawsuit on behalf of purchasers of securities of Calix, Inc. (NYSE: CALX) between January 28, 2026 and April 21, 2026 (the “Class Period”). Calix engages in the provision of cloud and software programs, and systems and services.For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.The Allegations: Rosen Law Firm is Investigating the All.

MENLO PARK, Calif.--(BUSINESS WIRE)--TriplePoint Venture Growth BDC Corp. (NYSE: TPVG) (the “Company”), a leading financing provider to venture growth stage companies backed by a select group of venture capital firms in technology and other high growth industries, today announced it will release its financial results for its second quarter ended June 30, 2026 after market-close on Wednesday, August 5, 2026. James P. Labe, chief executive officer and chairman of the board, Sajal K. Srivastava, p.

LAKE FOREST, Ill.--(BUSINESS WIRE)--Packaging Corporation of America (NYSE: PKG) today reported second quarter 2026 net income of $192 million, or $2.15 per share, and net income of $210 million, or $2.35 per share, excluding special items. Second quarter net sales were $2.5 billion in 2026 and $2.2 billion in 2025. Diluted earnings per share attributable to Packaging Corporation of America shareholders                           Three Months Ended       June 30,       2026     2025     Change  .

, /PRNewswire/ -- Fulton Financial Corporation (NASDAQ: FULT) ("Fulton" or the "Corporation") reported net income available to common shareholders of $99.9 million, or $0.52 per diluted share, for the second quarter of 2026, an increase of $7.7 million, or $0.01 per diluted share, in comparison to the first quarter of 2026. Operating net income available to common shareholders for the three months ended June 30, 2026 was $115.9 million(1), or $0.60 per diluted share(1), an increase of $16.2 million, or $0.05 per diluted share, in comparison to the first quarter of 2026.

FFC Net income available to common shareholders for the six months ended June 30, 2026 was $192.1 million, or $1.02 per diluted share, an increase of $5.0 million, and unchanged on a per diluted share basis, in comparison to the six months ended June 30, 2025. Operating net income available to common shareholders for the six months ended June 30, 2026, was $215.5 million(1), or $1.15 per diluted share(1), an increase of $19.4 million, or $0.08 per diluted share, in comparison to the six months ended June 30, 2025.

"During the quarter, we achieved record financial results and successfully completed the acquisition of Blue Foundry Bancorp," said Curtis J. Myers, Fulton Chairman, CEO, and President. "With the successful integration of Blue Foundry Bank already occurring earlier this month, we are well positioned to deepen existing relationships and drive growth in this expanded footprint. Our ongoing strong performance is due to high demand for our community banking approach and the commitment of our dedicated team members to making banking personal. Our sustained focus on executing our strategic priorities is creating long-term value for our shareholders."

Blue Foundry Bancorp Transaction(2)

On April 1, 2026, the Corporation completed its acquisition of Blue Foundry Bancorp and Blue Foundry Bank became a wholly owned subsidiary of the Corporation. On July 11, 2026, Blue Foundry Bank merged with and into Fulton Bank. As a result of the Blue Foundry Bancorp Transaction, the Corporation acquired total assets with preliminary fair values of approximately $2.1 billion including total loans with a preliminary fair value of approximately $1.6 billion and investments with a fair value of $226.5 million. The Corporation assumed total liabilities with a fair value of $1.8 billion including total deposits with a fair value of $1.5 billion and borrowings with a fair value of $276.0 million. Financial Highlights

Second quarter of 2026 operating results of $0.60 per diluted share(1) were impacted by the following items:

Net interest margin remained solid at 3.60%, representing a two basis point increase from the prior quarter. Non-interest income increased $9.5 million to $79.3 million compared to $69.8 million in the prior quarter. Non-interest expense increased $30.7 million to $231.0 million compared to $200.3 million in the prior quarter. Operating non-interest expense increased $19.9 million to $210.6 million(1) compared to $190.7 million in the prior quarter. Provision for credit losses was $4.9 million resulting in an allowance for credit losses attributable to net loans of $382.6 million, or 1.48% of total net loans as of June 30, 2026. The initial allowance for credit losses on loans acquired in the Blue Foundry Bancorp Transaction was $31.0 million. Common equity tier 1 capital ratio(3) increased to approximately 12.1% compared to 11.9% in the prior quarter. During the second quarter of 2026, 525,000 shares of the Corporation's common stock were repurchased under the 2026 Repurchase Program(4) at a cost of $11.1 million or an average of $21.19 per share. As of June 30, 2026, the Corporation repurchased $35.6 million of common stock under the 2026 Repurchase Program. The following items highlight notable changes in the components of net income in the second quarter of 2026 compared to the first quarter of 2026:

Net interest income increased $22.2 million to $284.3 million driven by a $17.5 million increase attributable to the Blue Foundry Bancorp Transaction. A $32.6 million increase in interest income on net loans, a $2.9 million increase in interest income on investment securities and a $2.6 million increase in interest income in other interest-earning assets were partially offset by a $10.9 million increase in interest expense on deposits and a $4.9 million increase in interest expense on borrowings and other interest-bearing liabilities. Purchase loan mark accretion from loans acquired in the Republic Transaction(5) was $9.9 million in the second quarter of 2026 compared to $10.3 million in the prior quarter. Purchase loan mark accretion from loans acquired in the Blue Foundry Bancorp Transaction was $5.2 million in the second quarter of 2026. Interest expense on borrowings and other interest-bearing liabilities included approximately $2.4 million from the Corporation's $195.0 million aggregate principal amount of outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030 that were redeemed on June 15, 2026. Non-interest income before investment securities gains (losses) was $79.3 million compared to $69.8 million in the prior quarter. The $9.5 million increase was primarily attributable to a $7.3 million increase in income from equity method investments, reflected in other income, that included $6.9 million of income recognized from an equity method investment that was sold during the quarter. Compared to the prior quarter, mortgage banking income increased by $1.0 million. Non-interest expense was $231.0 million compared to $200.3 million in the prior quarter. The $30.7 million increase was primarily due to an $11.2 million increase in acquisition-related expenses and a $10.3 million increase in salaries and employee benefits expense driven by a $6.2 million increase as a result of the Blue Foundry Bancorp Transaction and a $3.5 million increase in incentive compensation expense. Increases of $2.2 million and $1.8 million in other outside services expense and data processing and software expense, respectively, were primarily driven by the Blue Foundry Bancorp Transaction. Other non-interest expense for the second quarter of 2026 included a $2.1 million charge incurred related to merging two employee pension plans and $0.8 million of debt extinguishment costs. Balance Sheet Summary

Total net loans increased $1.7 billion to $25.9 billion compared to $24.3 billion as of March 31, 2026. The increase was primarily due to a $1.6 billion increase in loans, based on preliminary fair values, as a result of the Blue Foundry Bancorp Transaction. Excluding the Blue Foundry Bancorp Transaction, net loans increased $102.6 million with an increase of $206.9 million in consumer loans(6), partially offset by a decrease of $104.3 million in commercial loans(6). Deposits totaled $28.3 billion, a $1.5 billion increase compared to $26.8 billion as of March 31, 2026. The increase was primarily due to a $1.2 billion increase in deposits as a result of the Blue Foundry Bancorp Transaction. Excluding the Blue Foundry Bancorp Transaction, net deposits increased $249.2 million due to increases of $257.4 million in brokered deposits, $189.4 million in savings deposits and $76.4 million in time deposits, partially offset by decreases of $155.6 million in interest-bearing demand deposits and $118.5 million in noninterest-bearing demand deposits. On May 5, 2026, the Corporation issued $300.0 million aggregate principal amount of 5.950% Fixed-to-Floating Rate Subordinated Notes due 2036. On June 15, 2026, the Corporation redeemed $195.0 million aggregate principal amount of outstanding 3.250% Fixed-to-Floating Rate Subordinated Notes due 2030. Provision for Credit Losses and Asset Quality

The provision for credit losses totaled $4.9 million in the second quarter of 2026 compared to $14.4 million in the first quarter of 2026. The allowance for credit losses attributable to net loans was $382.6 million, or 1.48% of total net loans as of June 30, 2026, compared to $367.5 million, or 1.51% of total net loans as of March 31, 2026. The increase was largely due to a $28.7 million increase in the allowance for credit losses as a result of the Blue Foundry Bancorp Transaction. Non-performing assets were $187.1 million, or 0.54% of total assets, as of June 30, 2026, in comparison to $177.5 million, or 0.55% of total assets, as of March 31, 2026. Non-performing assets include $16.4 million from the Blue Foundry Bancorp Transaction. Annualized net charge-offs for the second quarter of 2026 were 0.34% of total average loans in comparison to 0.25% in the prior quarter. Additional information on Fulton is available at www.fultonbank.com.

(1)

Financial measure derived by methods other than generally accepted accounting principles ("GAAP"). Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of the press release.

(2)

On April 1, 2026, the Corporation completed its previously announced acquisition of Blue Foundry Bancorp (the "Blue Foundry Bancorp Transaction"). Following the Blue Foundry Bancorp Transaction, Blue Foundry Bank, a New Jersey-chartered stock savings bank and wholly owned subsidiary of Blue Foundry Bancorp, operated as a separate, wholly owned subsidiary of the Corporation until Blue Foundry Bank merged with and into the Corporation's wholly owned subsidiary Fulton Bank, National Association ("Fulton Bank") on July 11, 2026, with Fulton Bank continuing as the surviving bank.

(3)

Regulatory capital ratios as of June 30, 2026 are preliminary estimates and prior periods are actual.

(4)

The 2026 Repurchase Program represents the authorization, commencing on January 1, 2026 and expiring on January 31, 2027, to repurchase up to $150 million, excluding fees, commissions, excise tax and other ancillary expenses, of the Corporation's common stock. Under this authorization, up to $25 million of the $150 million authorization may be used to repurchase the Corporation's preferred stock, outstanding subordinated notes due 2030 or outstanding subordinated notes due 2035. As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time under the 2026 Repurchase Program in open market or privately negotiated transactions, including without limitation, through accelerated share repurchase transactions. The 2026 Repurchase Program may be discontinued at any time.

(5)

On April 26, 2024, Fulton Bank acquired substantially all of the assets and assumed substantially all of the deposits and certain liabilities of Republic First Bank, doing business as Republic Bank ("Republic Bank"), from the Federal Deposit Insurance Corporation (the "FDIC"), as receiver for Republic Bank (the "Republic Transaction"), pursuant to the terms of the Purchase and Assumption Agreement - Whole Bank, All Deposits, effective as of April 26, 2024 among the FDIC, as receiver of Republic Bank, the FDIC and Fulton Bank.

(6)

Commercial loans, excluding those acquired in the Blue Foundry Bancorp Transaction, include decreases of $54.9 million in commercial and industrial loans, $29.7 million in commercial construction loans, reflected in real estate - construction, $18.8 million in real estate - commercial mortgage loans and $1.0 million in leases and other loans. Consumer loans, excluding those acquired in the Blue Foundry Bancorp Transaction, include increases of $132.3 million in real estate - residential mortgage loans, $48.7 million in real estate - home equity loans, $20.9 million in residential construction loans, reflected in real estate - construction and $5.0 million in consumer loans.

Note: Some numbers contained in this document may not sum due to rounding.

Forward-Looking Statements

This press release may contain forward-looking statements with respect to the Corporation's financial condition, results of operations and business. Forward-looking statements are any statement that does not relate to historical or current facts and 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 may include projections of, or guidance on, the Corporation's future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation's business or financial results.

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 the Corporation's business, 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 the Corporation's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, 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. 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.

Numerous factors could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, including, but not limited to, the following: the impact of adverse conditions in the economy and financial markets; trade policies and the imposition of tariffs and retaliatory tariffs; the impacts of events affecting the financial services industry; the effects of actions by the federal government, including those of the Board of Governors of the Federal Reserve System and other government agencies, that impact the money supply and market interest rates; the effects of market interest rates and the relative balances of interest rate-sensitive assets to interest rate-sensitive liabilities on net interest margin and net interest income; the composition of the Corporation's loan portfolio and potential exposure to increased credit risk; the effects of changes in interest rates; investment securities gains and losses, including declines in the fair value of securities; disruptions in liquidity markets; capital and liquidity strategies; the Corporation's ability to generate capital internally or raise capital on favorable terms; the effects of competition; possible goodwill impairment charges; the impact of operational risks; the loss of, or failure to safeguard, confidential or proprietary information; the Corporation's failure to identify and promptly address cybersecurity risks; the impact of failures of the Corporation's third-party vendors to perform in accordance with contractual arrangements; the effects of concerns about other financial institutions on the Corporation; potential losses in connection with repurchase and indemnification payments related to sold loans; the effects of climate change on the Corporation's business and results of operations; the effects of increases in non-performing assets; the determination of the allowance for credit losses; the effects of the extensive level of regulation and supervision to which the Corporation and Fulton Bank are subject; changes in law, regulation and government policy; the continuing impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act; potential negative consequences resulting from regulatory violations, investigations and examinations; the effects of adverse outcomes in litigation and governmental or administrative proceedings; the effects of changes in U.S. federal, state or local tax laws; the effects of the significant amounts of time and expense associated with regulatory compliance and risk management; the Corporation's ability to realize anticipated reductions in non-interest expense and increases in revenue from strategic initiatives implemented from time to time; risks related to the acquisition of Blue Foundry Bancorp; completed and potential future acquisitions may affect costs and the Corporation may not be able to successfully integrate the acquired business or realize the anticipated benefits from such acquisitions; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism, military conflicts, wars and other international hostilities; public health crises and pandemics; the Corporation's ability to achieve its growth plans; the Corporation's ability to attract and retain talented personnel; the effects of competition from financial service companies and other companies offering bank services; the Corporation's ability to keep pace with technological changes; the Corporation's reliance on its subsidiaries for substantially all of its revenues; and the effects of negative publicity on the Corporation's reputation. For additional information about factors that could cause actual results to differ materially from those described in forward-looking statements, refer to the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2025, Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov).

Non-GAAP Financial Measures

The Corporation uses certain financial measures in this press release that have been derived from methods other than GAAP. These non-GAAP financial measures are reconciled to the most comparable GAAP measures in tables at the end of this press release.

FULTON FINANCIAL CORPORATION

SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)

(dollars in thousands, except per share and shares data)

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2026

2025

2025

2025

Ending Balances

Investment securities(1)

$ 5,122,759

$  4,861,967

$ 4,833,744

$ 5,045,270

$ 5,093,027

Net loans

25,934,293

24,266,345

24,144,884

24,041,489

24,012,539

Total assets

34,556,720

32,237,438

32,118,400

31,995,086

32,040,448

Deposits

28,250,342

26,768,335

26,589,407

26,332,490

26,138,067

Shareholders' equity

3,815,813

3,505,283

3,490,447

3,413,598

3,329,246

Average Balances

Investment securities(1)

4,983,015

4,785,276

4,921,669

5,025,072

5,084,371

Net loans

25,883,823

24,225,655

24,053,089

24,020,322

23,899,743

Total assets

34,193,608

31,999,228

32,013,163

31,924,038

31,901,574

Deposits

28,014,666

26,451,094

26,537,659

26,298,680

26,125,602

Shareholders' equity

3,788,421

3,543,911

3,464,539

3,361,368

3,304,015

Income Statement

Net interest income

284,252

262,023

266,042

264,198

254,921

Provision for credit losses

4,897

14,442

2,948

10,245

8,607

Non-interest income

79,306

69,841

69,980

70,407

69,148

Non-interest expense

230,954

200,294

212,986

196,574

192,811

Income before taxes

127,707

117,128

120,088

127,786

122,651

Net income available to common shareholders

99,852

92,199

96,408

97,892

96,636

Per Share

Net income available to common shareholders (basic)

$0.52

$0.51

$0.53

$0.54

$0.53

Net income available to common shareholders (diluted)

$0.52

$0.51

$0.53

$0.53

$0.53

Operating net income available to common shareholders(2)

$0.60

$0.55

$0.55

$0.55

$0.55

Cash dividends

$0.19

$0.19

$0.19

$0.18

$0.18

Common shareholders' equity

$18.92

$18.52

$18.33

$17.81

$17.20

Common shareholders' equity (tangible)(2)

$15.61

$15.12

$14.92

$14.39

$13.78

Weighted average shares (basic)

191,386

179,720

180,405

181,658

182,261

Weighted average shares (diluted)

192,997

181,655

182,197

183,349

183,813

(1) Includes related unrealized holding gains (losses) for available for sale ("AFS") securities.

(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2026

2025

2025

2025

Asset Quality

Net charge-offs to average loans (annualized)

0.34 %

0.25 %

0.24 %

0.18 %

0.20 %

Non-performing loans to total net loans

0.70 %

0.72 %

0.76 %

0.83 %

0.89 %

Non-performing assets to total assets

0.54 %

0.55 %

0.58 %

0.63 %

0.67 %

ACL - loans(1) to total loans

1.48 %

1.51 %

1.51 %

1.57 %

1.57 %

ACL - loans(1) to non-performing loans

211 %

209 %

198 %

189 %

177 %

Profitability

Return on average assets

1.20 %

1.20 %

1.23 %

1.25 %

1.25 %

Operating return on average assets(2)

1.39 %

1.30 %

1.27 %

1.29 %

1.30 %

Return on average common shareholders' equity

11.14 %

11.16 %

11.69 %

12.26 %

12.46 %

Operating return on average common shareholders' equity (tangible)(2)

15.71 %

14.76 %

14.86 %

15.79 %

16.26 %

Net interest margin

3.60 %

3.58 %

3.59 %

3.57 %

3.47 %

Efficiency ratio(2)

57.3 %

56.7 %

60.0 %

56.5 %

57.1 %

Non-interest expense to total average assets

2.71 %

2.54 %

2.64 %

2.44 %

2.42 %

Operating non-interest expense to total average assets(2)

2.47 %

2.42 %

2.53 %

2.38 %

2.36 %

Capital Ratios(3)

Tangible common equity ratio ("TCE")(2)

8.8 %

8.6 %

8.5 %

8.3 %

8.0 %

Tier 1 leverage ratio

9.9 %

9.9 %

9.7 %

9.6 %

9.4 %

Common equity Tier 1 capital ratio

12.1 %

11.9 %

11.8 %

11.6 %

11.3 %

Tier 1 risk-based capital ratio

12.8 %

12.7 %

12.6 %

12.4 %

12.1 %

Total risk-based capital ratio

15.9 %

15.2 %

15.2 %

15.0 %

14.7 %

(1) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Net Loans" and does not include the ACL related to off-balance-sheet

    ("OBS") credit exposures.

(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.

(3) Regulatory capital ratios as of June 30, 2026 are preliminary estimates and prior periods are actual.

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)

(dollars in thousands)

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2026

2025

2025

2025

ASSETS

Cash and due from banks

$   325,259

$   311,796

$   271,463

$   307,267

$   362,280

Other interest-earning assets

1,076,395

871,066

911,155

643,111

583,899

Loans held for sale

33,902

11,887

16,316

19,875

23,281

Investment securities

5,122,759

4,861,967

4,833,744

5,045,270

5,093,027

Net loans

25,934,293

24,266,345

24,144,884

24,041,489

24,012,539

Less: ACL - loans(1)

(382,580)

(367,489)

(364,462)

(376,258)

(377,337)

   Loans, net

25,551,713

23,898,856

23,780,422

23,665,231

23,635,202

Net premises and equipment

186,184

168,941

175,240

178,644

184,290

Accrued interest receivable

121,220

112,083

113,698

114,003

117,130

Goodwill and intangible assets

633,485

607,647

612,996

618,361

623,729

Other assets

1,505,803

1,393,195

1,403,366

1,403,324

1,417,610

    Total Assets

$ 34,556,720

$ 32,237,438

$ 32,118,400

$ 31,995,086

$ 32,040,448

LIABILITIES AND SHAREHOLDERS' EQUITY

Deposits

$ 28,250,342

$ 26,768,335

$ 26,589,407

$ 26,332,490

$ 26,138,067

Borrowings

1,713,976

1,252,579

1,297,375

1,471,961

1,773,900

Other liabilities

776,589

711,241

741,171

777,037

799,235

    Total Liabilities

30,740,907

28,732,155

28,627,953

28,581,488

28,711,202

Shareholders' equity

3,815,813

3,505,283

3,490,447

3,413,598

3,329,246

    Total Liabilities and Shareholders' Equity

$ 34,556,720

$ 32,237,438

$ 32,118,400

$ 31,995,086

$ 32,040,448

LOANS, DEPOSITS AND BORROWINGS DETAIL:

Loans, by type:

Real estate - commercial mortgage

$ 10,914,813

$ 9,985,368

$ 9,820,944

$ 9,734,156

$ 9,678,038

Commercial and industrial

4,559,732

4,494,031

4,539,060

4,437,905

4,541,765

Real estate - residential mortgage

7,250,949

6,735,338

6,669,993

6,617,017

6,511,687

Real estate - home equity

1,336,068

1,253,192

1,242,831

1,214,399

1,193,410

Real estate - construction

946,654

876,498

970,298

1,134,748

1,155,099

Consumer

570,093

565,041

564,349

566,291

583,949

Leases and other loans(2)

355,984

356,877

337,409

336,973

348,591

Total Net Loans

$ 25,934,293

$ 24,266,345

$ 24,144,884

$ 24,041,489

$ 24,012,539

Deposits, by type:

Noninterest-bearing demand

$ 5,245,586

$ 5,334,920

$ 5,256,096

$ 5,136,210

$ 5,337,771

Interest-bearing demand

8,146,057

7,823,683

7,970,188

8,035,393

7,593,083

Savings

9,277,215

8,875,256

8,512,829

8,417,678

8,271,925

     Total demand and savings

22,668,858

22,033,859

21,739,113

21,589,281

21,202,779

Brokered

975,204

715,850

855,042

709,667

817,398

Time

4,606,280

4,018,626

3,995,252

4,033,542

4,117,890

Total Deposits

$ 28,250,342

$ 26,768,335

$ 26,589,407

$ 26,332,490

$ 26,138,067

Borrowings, by type:

Federal Home Loan Bank advances

$   552,500

$   200,000

$   250,000

$   450,000

$   800,000

Senior debt and subordinated debt

469,668

367,720

367,637

367,557

367,476

Other borrowings

691,808

684,859

679,738

654,404

606,424

Total Borrowings

$ 1,713,976

$ 1,252,579

$ 1,297,375

$ 1,471,961

$ 1,773,900

(1) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.

(2) Includes equipment lease financing, overdraft and net origination fees and costs.

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(dollars in thousands, except per share and share data)

Three months ended

Six months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

Jun 30

2026

2026

2025

2025

2025

2026

2025

Net Interest Income:

Interest income

$ 428,154

$ 390,056

$ 403,416

$ 411,006

$ 402,761

$ 818,210

$ 802,452

Interest expense

143,902

128,033

137,374

146,808

147,840

271,935

296,345

    Net Interest Income

284,252

262,023

266,042

264,198

254,921

546,275

506,107

Provision for credit losses

4,897

14,442

2,948

10,245

8,607

19,339

22,505

    Net Interest Income after Provision

279,355

247,581

263,094

253,953

246,314

526,936

483,602

Non-Interest Income:

Wealth management

23,139

24,496

23,879

22,639

22,281

47,635

44,066

Commercial banking:

   Merchant and card

7,496

6,343

6,847

7,327

7,376

13,839

13,967

   Cash management

8,817

8,363

8,374

8,335

8,376

17,180

16,175

   Capital markets

3,530

3,614

3,730

2,908

2,945

7,144

5,356

   Other commercial banking

4,979

4,486

5,162

4,595

4,734

9,465

9,262

Total commercial banking

24,822

22,806

24,113

23,165

23,431

47,628

44,760

Consumer banking:

  Card

8,596

7,887

8,366

8,246

7,958

16,483

15,502

  Overdraft

3,858

3,798

4,109

4,153

3,817

7,656

7,112

  Other consumer banking

2,891

2,491

2,967

2,775

2,753

5,382

4,982

Total consumer banking

15,345

14,176

15,442

15,174

14,528

29,521

27,596

Mortgage banking

4,938

3,955

3,636

3,711

3,991

8,893

7,130

Other

11,062

4,408

2,910

5,718

4,917

15,470

12,830

Non-interest income before investment securities  (losses) gains

79,306

69,841

69,980

70,407

69,148

149,147

136,382

Investment securities (losses) gains, net

—

—

—

—

—

—

(2)

    Total Non-Interest Income

79,306

69,841

69,980

70,407

69,148

149,147

136,380

Non-Interest Expense:

Salaries and employee benefits

120,184

109,917

121,632

111,265

107,123

230,101

210,649

Data processing and software

20,419

18,662

19,695

18,535

18,262

39,081

36,861

Net occupancy

17,841

18,229

17,554

15,954

16,410

36,070

34,617

Other outside services

14,999

12,750

13,105

12,951

12,009

27,749

23,846

Intangible amortization

5,910

5,349

5,365

5,368

5,460

11,260

11,729

FDIC insurance

4,430

4,249

4,540

5,089

4,951

8,679

10,549

Equipment

4,086

3,924

4,001

3,926

4,100

8,010

8,249

Marketing

2,818

2,331

1,694

2,470

2,604

5,149

5,124

Professional fees

2,342

2,239

2,088

2,320

2,163

4,581

1,085

Acquisition-related expenses

13,839

2,644

802

—

—

16,483

380

Other

24,086

20,000

22,510

18,696

19,729

44,085

39,181

    Total Non-Interest Expense

230,954

200,294

212,986

196,574

192,811

431,248

382,270

    Income Before Income Taxes

127,707

117,128

120,088

127,786

122,651

244,835

237,712

Income tax expense

25,293

22,367

21,118

27,332

23,453

47,660

45,527

    Net Income

102,414

94,761

98,970

100,454

99,198

197,175

192,185

Preferred stock dividends

(2,562)

(2,562)

(2,562)

(2,562)

(2,562)

(5,124)

(5,124)

     Net Income Available to Common  Shareholders

$  99,852

$  92,199

$  96,408

$  97,892

$  96,636

$ 192,051

$ 187,061

Three months ended

Six months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

Jun 30

2026

2026

2025

2025

2025

2026

2025

PER SHARE:

Net income available to common shareholders:

Net income available to common shareholders (basic)

$0.52

$0.51

$0.53

$0.54

$0.53

$1.03

$1.03

Net income available to common shareholders (diluted)

$0.52

$0.51

$0.53

$0.53

$0.53

$1.02

$1.02

Cash dividends

$0.19

$0.19

$0.19

$0.18

$0.18

$0.38

$0.36

Weighted average shares (basic)

191,386

179,720

180,405

181,658

182,261

185,585

182,220

Weighted average shares (diluted)

192,997

181,655

182,197

183,349

183,813

187,377

183,999

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)

(dollars in thousands)

Three months ended

June 30, 2026

March 31, 2026

June 30, 2025

Average

Yield/

Average

Yield/

Average

Yield/

Balance

Interest(1)

Rate

Balance

Interest(1)

Rate

Balance

Interest(1)

Rate

ASSETS

Interest-earning assets:

Net loans(2)

$           25,883,823

$ 374,426

5.80 %

$           24,225,655

$ 341,843

5.70 %

$           23,899,742

$ 349,490

5.86 %

Investment securities(3)

5,233,693

47,661

3.64 %

5,001,079

44,771

3.58 %

5,390,953

49,463

3.67 %

Other interest-earning assets

997,586

10,377

4.17 %

773,171

7,745

4.05 %

682,075

8,197

4.82 %

Total Interest-Earning Assets

32,115,102

432,464

5.40 %

29,999,905

394,359

5.31 %

29,972,770

407,150

5.44 %

Noninterest-earning assets:

Cash and due from banks

310,904

300,074

277,880

Premises and equipment

189,791

173,203

186,989

Other assets

1,978,494

1,896,687

1,848,891

Less: ACL - loans(4)

(400,683)

(370,641)

(384,956)

Total Assets

$           34,193,608

$           31,999,228

$           31,901,574

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-bearing liabilities:

Demand deposits

$ 8,279,932

$ 32,443

1.57 %

$ 7,774,121

$ 29,036

1.51 %

$ 7,800,881

$ 34,745

1.79 %

Savings deposits

9,128,400

47,299

2.08 %

8,684,478

44,663

2.09 %

8,219,637

47,462

2.32 %

Brokered deposits

887,546

8,589

3.88 %

856,823

8,210

3.89 %

688,957

7,495

4.36 %

Time deposits

4,540,334

38,406

3.39 %

4,015,644

33,896

3.42 %

4,112,130

39,492

3.85 %

Total Interest-Bearing Deposits

22,836,212

126,737

2.23 %

21,331,066

115,805

2.20 %

20,821,605

129,194

2.49 %

Borrowings and other interest-bearing liabilities

1,744,871

17,165

3.95 %

1,359,113

12,228

3.65 %

1,756,246

18,646

4.26 %

Total Interest-Bearing Liabilities

24,581,083

143,902

2.35 %

22,690,179

128,033

2.29 %

22,577,851

147,840

2.62 %

Noninterest-bearing liabilities:

Demand deposits

5,178,454

5,120,028

5,303,997

Other liabilities

645,650

645,110

715,711

Total Liabilities

30,405,187

28,455,317

28,597,559

Total Deposits

28,014,666

1.81 %

26,451,094

1.78 %

26,125,602

1.98 %

Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)

29,759,537

1.94 %

27,810,207

1.87 %

27,881,848

2.13 %

Shareholders' equity

3,788,421

3,543,911

3,304,015

Total Liabilities and Shareholders' Equity

$           34,193,608

$           31,999,228

$           31,901,574

Net interest income/net interest margin (fully taxable equivalent)

288,562

3.60 %

266,326

3.58 %

259,310

3.47 %

Tax equivalent adjustment

(4,310)

(4,303)

(4,389)

Net Interest Income

$ 284,252

$ 262,023

$ 254,921

(1)  Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.

(2) Average balances include non-performing loans.

(3) Average balances include amortized historical cost for AFS securities; the related unrealized holding gains (losses) are included in other assets.

(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.

FULTON FINANCIAL CORPORATION

AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)

(dollars in thousands)

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2026

2025

2025

2025

Loans, by type:

Real estate - commercial mortgage

$           10,887,986

$ 9,930,713

$ 9,785,717

$ 9,721,395

$ 9,652,320

Commercial and industrial

4,602,800

4,522,694

4,473,522

4,494,662

4,530,085

Real estate - residential mortgage

7,189,941

6,696,646

6,646,318

6,560,413

6,448,443

Real estate - home equity

1,298,632

1,235,977

1,223,293

1,191,465

1,179,109

Real estate - construction

962,625

926,026

1,014,343

1,125,130

1,172,138

Consumer

592,106

576,852

577,136

590,658

599,505

Leases and other loans(1)

349,733

336,747

332,760

336,599

318,142

Total Net Loans

$           25,883,823

$           24,225,655

$           24,053,089

$           24,020,322

$           23,899,742

Deposits, by type:

Noninterest-bearing demand

$ 5,178,454

$ 5,120,028

$ 5,243,390

$ 5,239,393

$ 5,303,997

Interest-bearing demand

8,279,932

7,774,121

7,984,980

7,876,227

7,800,881

Savings

9,128,400

8,684,478

8,519,075

8,391,379

8,219,637

     Total demand and savings

22,586,786

21,578,627

21,747,445

21,506,999

21,324,515

Brokered

887,546

856,823

803,755

694,486

688,957

Time

4,540,334

4,015,644

3,986,459

4,097,195

4,112,130

Total Deposits

$           28,014,666

$           26,451,094

$           26,537,659

$           26,298,680

$           26,125,602

Borrowings, by type:

Federal funds purchased

$        —

$        —

$        54

$        —

$     1,099

Federal Home Loan Bank advances

475,983

221,039

237,880

484,022

712,198

Senior debt and subordinated debt

509,493

367,679

367,598

367,517

367,438

Other borrowings and other interest-bearing liabilities

759,395

770,395

740,305

713,456

675,511

Total Borrowings

$ 1,744,871

$ 1,359,113

$ 1,345,837

$ 1,564,995

$ 1,756,246

(1) Includes equipment lease financing, overdraft and net origination fees and costs.

FULTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)

(dollars in thousands)

Six months ended June 30,

2026

2025

Average

Yield/

Average

Yield/

Balance

Interest(1)

Rate

Balance

Interest(1)

Rate

ASSETS

Interest-earning assets:

Net loans(2)

$    25,059,319

$    716,268

5.75 %

$    23,953,003

$    697,115

5.86 %

Investment securities(3)

5,118,030

92,432

3.61 %

5,295,507

96,706

3.65 %

Other interest-earning assets

885,999

18,122

4.12 %

737,302

17,361

4.74 %

Total Interest-Earning Assets

31,063,348

826,822

5.35 %

29,985,812

811,182

5.44 %

Noninterest-Earning assets:

Cash and due from banks

305,519

289,822

Premises and equipment

181,545

189,108

Other assets

1,937,815

1,856,900

Less: ACL - loans(4)

(385,745)

(385,241)

Total Assets

$    33,102,482

$    31,936,401

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-Bearing liabilities:

Demand deposits

$     8,028,425

$     61,480

1.54 %

$     7,777,364

$     68,934

1.79 %

Savings deposits

8,907,666

91,961

2.08 %

8,134,377

92,563

2.29 %

Brokered deposits

872,269

16,798

3.88 %

796,243

17,533

4.44 %

Time deposits

4,279,437

72,304

3.41 %

4,081,913

81,055

4.00 %

Total Interest-Bearing Deposits

22,087,797

242,543

2.21 %

20,789,897

260,085

2.52 %

Borrowings and other interest-bearing liabilities

1,553,057

29,392

3.82 %

1,755,577

36,260

4.17 %

Total Interest-Bearing Liabilities

23,640,854

271,935

2.32 %

22,545,474

296,345

2.65 %

Noninterest-Bearing liabilities:

Demand deposits

5,149,402

5,357,731

Other liabilities

645,385

753,988

Total Liabilities

29,435,641

28,657,193

Total Deposits

27,237,199

1.80 %

26,147,628

2.01 %

Total interest-bearing liabilities and non-interest bearing deposits (cost of funds)

28,790,256

1.90 %

27,903,205

2.14 %

Shareholders' equity

3,666,841

3,279,208

Total Liabilities and Shareholders' Equity

$    33,102,482

$    31,936,401

Net interest income/net interest margin (fully taxable equivalent)

554,887

3.59 %

514,837

3.45 %

Tax equivalent adjustment

(8,612)

(8,730)

Net Interest Income

$    546,275

$    506,107

(1)  Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.

(2) Average balances include non-performing loans.

(3) Average balances include amortized historical cost for AFS; the related unrealized holding gains (losses) are included in other assets.

(4) ACL - loans relates to the ACL for net loans and does not include the ACL related to OBS credit exposures, which is included in other liabilities.

FULTON FINANCIAL CORPORATION

AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED)

(dollars in thousands)

Six months ended June 30,

2026

2025

Loans, by type:

Real estate - commercial mortgage

$       10,403,830

$         9,653,793

Commercial and industrial

4,571,311

4,569,027

Real estate - residential mortgage

6,944,657

6,408,432

Real estate - home equity

1,267,478

1,169,961

Real estate - construction

944,248

1,233,770

Consumer

584,521

607,578

Leases and other loans(1)

343,274

310,442

Total Net Loans

$       25,059,319

$       23,953,003

Deposits, by type:

Noninterest-bearing demand

$         5,149,402

$         5,357,731

Interest-bearing demand

8,028,425

7,777,364

Savings

8,907,666

8,134,377

   Total demand and savings

22,085,493

21,269,472

Brokered

872,269

796,243

Time

4,279,437

4,081,913

Total Deposits

$       27,237,199

$       26,147,628

Borrowings, by type:

Federal funds purchased

$                 —

$                552

Federal Home Loan Bank advances

349,215

710,790

Senior debt and subordinated debt

438,978

367,398

Other borrowings and other interest-bearing liabilities

764,865

676,837

Total Borrowings

$         1,553,058

$         1,755,577

(1) Includes equipment lease financing, overdraft and net origination fees and costs.

FULTON FINANCIAL CORPORATION

ASSET QUALITY INFORMATION (UNAUDITED)

(dollars in thousands)

Three months ended

Six months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

Jun 30

Jun 30

2026

2026

2025

2025

2025

2026

2025

Allowance for credit losses related to net loans:

Balance at beginning of period

$         367,489

$         364,462

$         376,258

$         377,337

$         379,677

$          364,462

$          379,156

Initial allowance for credit losses on purchased loans

30,993

3,351

—

—

—

34,344

—

Loans charged off:

    Real estate - commercial mortgage

(10,789)

(4,102)

(14,104)

(3,906)

(6,402)

(14,891)

(18,508)

    Commercial and industrial

(12,015)

(10,545)

(5,295)

(5,847)

(5,780)

(22,560)

(9,645)

    Real estate - residential mortgage

(121)

(391)

(58)

(394)

(258)

(512)

(601)

    Consumer and home equity

(2,119)

(2,164)

(2,212)

(2,527)

(1,885)

(4,284)

(4,078)

    Real estate - construction

—

—

—

(5,286)

(100)

—

(100)

    Leases and other loans(1)

(966)

(1,116)

(1,140)

(1,479)

(1,491)

(2,081)

(3,018)

    Total loans charged off

(26,010)

(18,318)

(22,809)

(19,439)

(15,916)

(44,328)

(35,950)

Recoveries of loans previously charged off:

    Real estate - commercial mortgage

1,629

701

633

4,307

133

2,330

507

    Commercial and industrial

1,280

740

6,592

3,205

2,628

2,020

8,580

    Real estate - residential mortgage

197

72

230

33

203

268

377

    Consumer and home equity

484

584

861

726

899

1,068

1,559

    Real estate - construction

—

884

—

47

99

884

181

    Leases and other loans(1)

404

429

146

192

240

834

441

    Total recoveries of loans previously charged off

3,994

3,410

8,462

8,510

4,202

7,404

11,645

Net loans charged off

(22,016)

(14,908)

(14,347)

(10,929)

(11,714)

(36,924)

(24,305)

Provision for credit losses(2)

6,308

14,584

2,551

9,850

9,374

20,892

22,486

Other

(194)

—

—

—

—

(194)

—

Balance at end of period

$         382,580

$         367,489

$         364,462

$         376,258

$         377,337

$          382,580

$          377,337

Net charge-offs to average loans(3)

0.34 %

0.25 %

0.24 %

0.18 %

0.20 %

0.30 %

0.20 %

Provision for credit losses related to OBS Credit Exposures

Provision for credit losses(2)

$ (1,411)

$  (142)

$    397

$    395

$  (767)

$ (1,553)

$     19

NON-PERFORMING ASSETS:

Non-accrual loans

$         146,457

$         142,035

$         153,872

$         150,137

$         182,942

Loans 90 days past due and accruing

34,815

33,816

29,924

48,597

29,949

    Total non-performing loans

181,272

175,851

183,796

198,734

212,891

Other real estate owned

5,791

1,648

1,365

2,305

2,706

Total non-performing assets

$         187,063

$         177,499

$         185,161

$         201,039

$         215,597

NON-PERFORMING LOANS, BY TYPE:

Commercial and industrial

$ 39,466

$ 47,759

$ 47,756

$ 48,817

$ 45,565

Real estate - commercial mortgage

66,445

64,890

74,981

87,789

90,852

Real estate - residential mortgage

56,821

47,826

45,569

44,689

37,703

Consumer and home equity

12,387

12,339

11,875

12,658

11,109

Real estate - construction

6,135

3,000

2,267

3,461

25,602

Leases and other loans(2)

18

37

1,348

1,320

2,060

Total non-performing loans

$         181,272

$         175,851

$         183,796

$         198,734

$         212,891

(1) Includes equipment lease financing, overdrafts and net origination fees and costs.

(2) The sum of these amounts are reflected in the provision for credit losses in the Condensed Consolidated Statements of Income.

(3) Quarterly results are annualized.

FULTON FINANCIAL CORPORATION

RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)

(dollars in thousands, except per share and share data)

Explanatory note:

This press release contains supplemental financial information, as detailed below, that has been derived by methods other than GAAP. The Corporation has presented these non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Management believes that these non-GAAP financial measures, in addition to GAAP measures, are also useful to investors to evaluate the Corporation's results. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure follow:

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2026

2025

2025

2025

Operating net income available to common shareholders

Net income available to common shareholders

$     99,852

$    92,199

$    96,408

$    97,892

$    96,636

Less: Other (1) 

—

—

(4,989)

(738)

(9)

Plus: Core deposit intangible amortization

5,816

5,255

5,255

5,255

5,346

Plus: Acquisition-related expense

13,839

2,644

802

—

—

Plus: FDIC special assessment

—

—

(95)

—

—

Plus: FultonFirst implementation and asset disposals

(189)

1,556

2,795

(207)

(270)

Plus: Debt extinguishment costs

787

—

—

—

—

Less: Tax impact of adjustments

(4,253)

(1,985)

(791)

(905)

(1,064)

Operating net income available to common shareholders (numerator)

$    115,852

$    99,669

$    99,385

$   101,297

$   100,639

Weighted average shares (diluted) (denominator)

192,997

181,655

182,197

183,349

183,813

Operating net income available to common shareholders, per share (diluted)

$       0.60

$      0.55

$      0.55

$      0.55

$      0.55

Common shareholders' equity (tangible), per share

Shareholders' equity

$  3,815,813

$ 3,505,283

$ 3,490,447

$ 3,413,598

$ 3,329,246

Less: Preferred stock

(192,878)

(192,878)

(192,878)

(192,878)

(192,878)

Less: Goodwill and intangible assets

(633,485)

(607,647)

(612,996)

(618,361)

(623,729)

Tangible common shareholders' equity (numerator)

$  2,989,450

$ 2,704,758

$ 2,684,573

$ 2,602,359

$ 2,512,639

Shares outstanding, end of period (denominator)

191,461

178,843

179,895

180,865

182,379

Common shareholders' equity (tangible), per share

$      15.61

$     15.12

$     14.92

$     14.39

$     13.78

(1) Includes loan recovery adjustments of $5.0 million and $0.6 million in the fourth quarter of 2025 and the third quarter of 2025, respectively, reflected in the provision for credit losses related to a loan acquired in the Republic Transaction.

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2026

2025

2025

2025

Operating return on average assets

Net income

$    102,414

$    94,761

$    98,970

$   100,454

$    99,198

Less: Other (1)

—

—

(4,989)

(738)

(9)

Plus: Core deposit intangible amortization

5,816

5,255

5,255

5,255

5,346

Plus: Acquisition-related expense

13,839

2,644

802

—

—

Plus: FDIC special assessment

—

—

(95)

—

—

Plus: FultonFirst implementation and asset disposals

(189)

1,556

2,795

(207)

(270)

Plus: Debt extinguishment costs

787

—

—

—

—

Less: Tax impact of adjustments

(4,253)

(1,985)

(791)

(905)

(1,064)

Operating net income (numerator)

$    118,414

$   102,231

$   101,947

$   103,859

$   103,201

Total average assets

$ 34,193,608

$ 31,999,228

$ 32,013,163

$ 31,924,038

$ 31,901,574

Less: Average net core deposit intangible

(66,665)

(54,629)

(60,726)

(65,999)

(71,282)

Total operating average assets  (denominator)

$ 34,126,943

$ 31,944,599

$ 31,952,437

$ 31,858,039

$ 31,830,292

Operating return on average assets(2)

1.39 %

1.30 %

1.27 %

1.29 %

1.30 %

Operating return on average common shareholders' equity (tangible)

Net income available to common shareholders

$     99,852

$    92,199

$    96,408

$    97,892

$    96,636

Less: Other (1)

—

—

(4,989)

(738)

(9)

Plus: Intangible amortization

5,910

5,349

5,365

5,368

5,460

Plus: Acquisition-related expense

13,839

2,644

802

—

—

Plus: FDIC special assessment

—

—

(95)

—

—

Plus: FultonFirst implementation and asset disposals

(189)

1,556

2,795

(207)

(270)

Plus: Debt extinguishment costs

787

—

—

—

—

Less: Tax impact of adjustments

(4,273)

(2,005)

(814)

(929)

(1,088)

Adjusted net income available to common shareholders (numerator)

$    115,926

$    99,743

$    99,472

$   101,386

$   100,729

Average shareholders' equity

$  3,788,421

$ 3,543,911

$ 3,464,539

$ 3,361,368

$ 3,304,015

Less: Average preferred stock

(192,878)

(192,878)

(192,878)

(192,878)

(192,878)

Less: Average goodwill and intangible assets

(635,278)

(610,262)

(615,600)

(620,986)

(626,383)

Average tangible common shareholders' equity (denominator)

$  2,960,265

$ 2,740,771

$ 2,656,061

$ 2,547,504

$ 2,484,754

Operating return on average common shareholders' equity (tangible)(2)

15.71 %

14.76 %

14.86 %

15.79 %

16.26 %

Tangible common equity to tangible assets (TCE Ratio)

Shareholders' equity

$  3,815,813

$ 3,505,283

$ 3,490,447

$ 3,413,598

$ 3,329,246

Less: Preferred stock

(192,878)

(192,878)

(192,878)

(192,878)

(192,878)

Less: Goodwill and intangible assets

(633,485)

(607,647)

(612,996)

(618,361)

(623,729)

Tangible common shareholders' equity (numerator)

$  2,989,450

$ 2,704,758

$ 2,684,573

$ 2,602,359

$ 2,512,639

Total assets

$ 34,556,720

$ 32,237,438

$ 32,118,400

$ 31,995,086

$ 32,040,448

Less: Goodwill and intangible assets

(633,485)

(607,647)

(612,996)

(618,361)

(623,729)

Total tangible assets (denominator)

$ 33,923,235

$ 31,629,791

$ 31,505,404

$ 31,376,725

$ 31,416,719

Tangible common equity to tangible assets

8.81 %

8.55 %

8.52 %

8.29 %

8.00 %

(1) Includes loan recovery adjustments of $5.0 million and $0.6 million in the fourth quarter of 2025 and the third quarter of 2025, respectively, reflected in the provision for credit losses related to a loan acquired in the Republic Transaction.

(2) Results are annualized.

Three months ended

Jun 30

Mar 31

Dec 31

Sep 30

Jun 30

2026

2026

2025

2025

2025

Efficiency ratio

Non-interest expense

$    230,954

$   200,294

$   212,986

$   196,574

$   192,811

Less: Acquisition-related expense

(13,839)

(2,644)

(802)

—

—

Less: FDIC special assessment

—

—

95

—

—

Less: FultonFirst implementation and asset disposals

189

(1,556)

(2,795)

207

270

Less: Debt extinguishment costs

(787)

—

—

—

—

Less: Intangible amortization

(5,910)

(5,349)

(5,365)

(5,368)

(5,460)

Operating non-interest expense (numerator)

$    210,607

$   190,745

$   204,119

$   191,413

$   187,621

Net interest income

$    284,252

$   262,023

$   266,042

$   264,198

$   254,921

Tax equivalent adjustment

4,310

4,303

4,416

4,436

4,389

Plus: Total non-interest income

79,306

69,841

69,980

70,407

69,148

Less: Other revenue

—

—

11

(138)

(9)

Plus: Investment securities (gains) losses, net

—

—

—

—

—

Total revenue (denominator)

$    367,868

$   336,167

$   340,449

$   338,903

$   328,449

Efficiency ratio

57.3 %

56.7 %

60.0 %

56.5 %

57.1 %

Operating non-interest expense to total average assets

Non-interest expense

$    230,954

$   200,294

$   212,986

$   196,574

$   192,811

Less: Intangible amortization

(5,910)

(5,349)

(5,365)

(5,368)

(5,460)

Less: Acquisition-related expense

(13,839)

(2,644)

(802)

—

—

Less: FDIC special assessment

—

—

95

—

—

Less: FultonFirst implementation and asset disposals

189

(1,556)

(2,795)

207

270

Less: Debt extinguishment costs

(787)

—

—

—

—

Operating non-interest expense (numerator)

$    210,607

$   190,745

$   204,119

$   191,413

$   187,621

Total average assets (denominator)

$ 34,193,608

$ 31,999,228

$ 32,013,163

$ 31,924,038

$ 31,901,574

Operating non-interest expenses to total average assets(1)

2.47 %

2.42 %

2.53 %

2.38 %

2.36 %

(1) Results are annualized.

Six months ended

Jun 30

Jun 30

2026

2025

Operating net income available to common shareholders

Net income available to common shareholders

$    192,051

$   187,061

Less: Other

—

(131)

Plus: Core deposit intangible amortization

11,070

11,501

Plus: Acquisition-related expense

16,483

380

Plus: FultonFirst implementation and asset disposals

1,367

(317)

Plus: Debt extinguishment costs

787

—

Less: Tax impact of adjustments

(6,238)

(2,401)

Operating net income available to common shareholders (numerator)

$    215,520

$   196,093

Weighted average shares (diluted) (denominator)

187,377

183,999

Operating net income available to common shareholders, per share (diluted)

$       1.15

$      1.07

SOURCE Fulton Financial Corporation

DALLAS--(BUSINESS WIRE)--Matador Resources Company (NYSE: MTDR) (“Matador”) today announced that its Board of Directors declared a quarterly cash dividend of $0.375 per share of common stock payable on September 8, 2026 to shareholders of record as of August 10, 2026. About Matador Resources Company Matador is an independent energy company engaged in the exploration, development, production and acquisition of oil and natural gas resources in the United States, with an emphasis on oil and natura.

DALLAS--(BUSINESS WIRE)--Primoris Services Corporation (NYSE: PRIM) (“Primoris” or the “Company”) today announced it will report second quarter 2026 financial results on Tuesday, August 4, 2026, after market close. The Company's press release will be available on the Primoris website at www.prim.com. In conjunction with the press release, management will host a conference call and webcast on Wednesday, August 5, 2026, at 9:00 a.m. U.S. Central Time (10:00 a.m. U.S. Eastern Time), to discuss the.

- Deliveries of 2,506 Homes Generating $927.2 Million in Total Revenues -

- Net New Home Contracts of 2,615 -

- Ending Community Count Increased Sequentially to 330, a Company Record -

- Net Income of $36.1 Million, or $1.26 Per Diluted Share -

- Book Value Per Share of $90.24, a Company Record -

, /PRNewswire/ -- Century Communities, Inc. (NYSE: CCS), one of the nation's largest homebuilders, today announced financial results for its second quarter ended June 30, 2026.

Second Quarter 2026 Highlights

Net income of $36.1 million, or $1.26 per diluted share Adjusted net income of $37.3 million, or $1.30 per diluted share Total revenues of $927.2 million Community count of 330, a Company record Deliveries of 2,506 homes Net new home contracts of 2,615 Homebuilding gross margin of 18.1% Adjusted homebuilding gross margin of 20.0% Repurchased 352,811 shares of common stock for $19.6 million "We delivered strong second quarter results despite continued headwinds from macro challenges and weak consumer sentiment, with earnings per diluted share of $1.26 increasing by 11% on a year-over-year basis and 50% sequentially," said Dale Francescon, Executive Chairman. "We continued to invest in our business and ended the quarter with 330 open communities, a Company record. Our balance sheet remains strong with $2.6 billion of stockholders' equity and $802 million of liquidity, and we repurchased 352,811 shares of our common stock for $19.6 million at a 38% discount to our Company record book value per share of $90.24 while maintaining our quarterly cash dividend of $0.32 per share and continuing to position Century for future growth."

Rob Francescon, Chief Executive Officer and President, said, "Our deliveries of 2,506 homes grew by 25% on a sequential basis and exceeded our guidance on stronger order activity, with our net orders of 2,615 homes increasing by 3% on a year-over-year basis and 10% sequentially. Our net orders were relatively stable throughout the quarter, with our traffic posting a sequential gain of 9% in the second quarter. Our adjusted homebuilding gross margin of 20.0% increased by 30 basis points on a sequential basis, benefitting from lower incentives and direct costs as we controlled our costs and inventory levels."

Second Quarter 2026 Results

Net income for the second quarter 2026 was $36.1 million, or $1.26 per diluted share. Adjusted net income was $37.3 million, or $1.30 per diluted share.

Total revenues were $927.2 million, with second quarter home sales revenues totaling $897.5 million. Deliveries totaled 2,506 homes. The average sales price of home deliveries for the second quarter 2026 was $358,200.

Net new home contracts in the second quarter 2026 were 2,615, and at the end of the second quarter 2026, the Company had 1,264 homes in backlog, representing $469.3 million of backlog dollar value.

Adjusted homebuilding gross margin percentage, excluding interest and purchase price accounting, was 20.0% in the second quarter of 2026, and homebuilding gross margin was 18.1%. Selling, general, and administrative expenses as a percent of home sales revenues was 14.2% in the quarter. Adjusted EBITDA and EBITDA for the second quarter 2026 were $78.2 million and $71.0 million, respectively.

Financial services revenues and pre-tax income were $25.4 million and $9.9 million, respectively, in the second quarter 2026.

Balance Sheet and Liquidity

The Company ended the second quarter 2026 with a strong financial position, including $2.6 billion of stockholders' equity and $802.4 million of total liquidity, including $132.0 million of cash, including cash equivalents and cash held in escrow.

Book value per share was $90.24, a Company record, as of June 30, 2026.

During the second quarter, consistent with Century's disciplined capital allocation approach to enhance the long-term value of the Company and return capital to our stockholders, Century maintained its quarterly cash dividend of $0.32 per share and repurchased 352,811 shares of common stock for $19.6 million.

As of June 30, 2026, homebuilding debt to capital equaled 34.2% and net homebuilding debt to net capital equaled 31.9%.

Full Year 2026 Outlook

Scott Dixon, Chief Financial Officer of the Company, commented, "We are raising the midpoint and low end of our full year 2026 home delivery guidance to be in the range of 9,750 to 10,500 homes, with our home sales revenues expected to be in the range of $3.5 billion to $3.8 billion."

Webcast and Conference Call

The Company will host a webcast and conference call on Wednesday, July 22, 2026, at 5:00 p.m. Eastern time, 3:00 p.m. Mountain time, to review the Company's second quarter 2026 results, provide commentary, and conduct a question-and-answer session. To participate in the call, please dial 833-461-5787 (domestic) or 585-542-9983 (international) and enter the conference ID 338 306 020. The live webcast will be available at www.centurycommunities.com in the Investors section. A replay of the webcast will be available on the Company's website for at least one year.

About Century Communities

Century Communities, Inc. (NYSE: CCS) is one of the nation's largest homebuilders and a recognized industry leader in online home sales. Newsweek has named the Company one of America's Most Trustworthy Companies for three consecutive years, and Century Communities has also been designated as one of U.S. News & World Report's Best Companies to Work For (2025-2026). Through its Century Communities and Century Complete brands, Century's mission is to build attractive, high-quality homes at affordable prices to provide its valued customers with A HOME FOR EVERY DREAM®. Century is engaged in all aspects of homebuilding — including the acquisition, entitlement and development of land, along with the construction, innovative marketing and sale of quality homes designed to appeal to a wide range of homebuyers. The Company operates in 16 states and over 45 markets across the U.S., and also offers mortgage, title, insurance brokerage, and escrow services in select markets through its Inspire Home Loans, Parkway Title, IHL Home Insurance Agency, and IHL Escrow subsidiaries. To learn more about Century Communities, please visit www.centurycommunities.com.

Non-GAAP Financial Measures

In addition to the Company's operating results presented in accordance with United States generally accepted accounting principles (GAAP), this press release includes the following non-GAAP financial measures: adjusted net income, adjusted diluted earnings per share, adjusted homebuilding gross margin, EBITDA, adjusted EBITDA, and ratio of net homebuilding debt to net capital. These non-GAAP financial measures should not be used as a substitute for the Company's operating results presented in accordance with GAAP, and an analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP. Please refer to the reconciliation of each of the above referenced non-GAAP financial measures following the historical financial information presented in this press release.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and, as such, may involve known and unknown risks, uncertainties and assumptions. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "intend," "estimate," "plan," "continue," "will," "may," "should," "potential," "guidance" and "outlook" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements in this release include the Company's operating and financial guidance for 2026, including anticipated home deliveries and home sales revenues. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on historical information available at the time the statements are made and are based on management's reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company's control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. The following important factors could cause actual results to differ materially from those expressed in the forward-looking statements: changes in general economic conditions, including interest rates, inflation, and employment levels; consumer confidence and affordability concerns; the impact of geopolitical conflicts including in the Middle East, tariffs and increased costs, immigration reform and enforcement, global supply chain disruptions, labor, land and raw material or other resource shortages and delays, and municipal and utility delays on the Company's business, industry and the broader economy; the availability and cost of financing; home incentive levels; the ability to identify and acquire desirable land and dispose of land when appropriate; availability and pricing for land, labor and raw materials and other resources; reliance on contractors and key personnel; the effect of competition; risks associated with the Company's mortgage lending business and increased use of adjustable-rate mortgages; risks associated with the Company's multi-family rental businesses; future impairment and restructuring charges; the effect of tax changes; the effect of recent federal housing legislation; and the other factors included in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law.

Century Communities, Inc.

Consolidated Statements of Operations

(Unaudited)

(in thousands, except share and per share amounts)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Revenues

Homebuilding Revenues

Home sales revenues

$

897,528

$

976,467

$

1,631,634

$

1,860,204

Land sales and other revenues

4,255

483

37,426

1,445

Total homebuilding revenues

901,783

976,950

1,669,060

1,861,649

Financial services revenues

25,444

23,774

47,840

42,308

Total revenues

927,227

1,000,724

1,716,900

1,903,957

Homebuilding Cost of Revenues

Cost of home sales revenues

(735,368)

(804,522)

(1,338,659)

(1,512,437)

Cost of land sales and other revenues

(1,678)

(69)

(24,249)

(897)

Total homebuilding cost of revenues

(737,046)

(804,591)

(1,362,908)

(1,513,334)

Financial services costs

(15,548)

(17,550)

(30,299)

(33,724)

Selling, general, and administrative expense

(127,416)

(128,837)

(243,498)

(249,596)

Other income (expense), net

1,851

(2,663)

2,204

(7,702)

Income before income tax expense

49,068

47,083

82,399

99,601

Income tax expense

(12,920)

(12,229)

(21,842)

(25,363)

Net income

$

36,148

$

34,854

$

60,557

$

74,238

Earnings per share:

Basic

$

1.26

$

1.15

$

2.09

$

2.43

Diluted

$

1.26

$

1.14

$

2.09

$

2.40

Weighted average common shares outstanding:

Basic

28,637,901

30,366,109

28,912,225

30,582,376

Diluted

28,653,398

30,680,708

28,933,927

30,912,086

Century Communities, Inc.

Consolidated Balance Sheets

(in thousands, except share amounts)

June 30,

December 31,

2026

2025

Assets

(unaudited)

(audited)

Cash and cash equivalents

$

92,334

$

109,443

Cash held in escrow

39,709

48,571

Accounts receivable

64,824

57,242

Inventories

3,598,982

3,361,158

Mortgage loans held for sale

233,347

299,145

Prepaid expenses and other assets

511,559

435,683

Property and equipment, net

73,090

69,368

Deferred tax assets, net

36,317

38,176

Goodwill

41,109

41,109

Total assets

$

4,691,271

$

4,459,895

Liabilities and stockholders' equity

Liabilities:

Accounts payable

$

151,298

$

114,416

Accrued expenses and other liabilities

290,348

310,602

Notes payable

1,121,745

1,102,376

Revolving line of credit

329,600

51,500

Mortgage repurchase facilities

232,529

289,269

Total liabilities

2,125,520

1,868,163

Stockholders' equity:

Preferred stock, $0.01 par value, 50,000,000 shares authorized, none outstanding

—

—

Common stock, $0.01 par value, 100,000,000 shares authorized, 28,432,620 and 29,050,515 shares issued
and outstanding at June 30, 2026 and December 31, 2025, respectively

284

291

Additional paid-in capital

318,276

385,962

Retained earnings

2,247,191

2,205,479

Total stockholders' equity

2,565,751

2,591,732

Total liabilities and stockholders' equity

$

4,691,271

$

4,459,895

Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)

Net New Home Contracts

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

% Change

2026

2025

% Change

West

309

323

(4.3)

%

645

715

(9.8)

%

Mountain

440

336

31.0

%

866

798

8.5

%

Texas

568

504

12.7

%

1,041

1,003

3.8

%

Southeast

386

384

0.5

%

745

771

(3.4)

%

Century Complete

912

999

(8.7)

%

1,697

1,951

(13.0)

%

Total

2,615

2,546

2.7

%

4,994

5,238

(4.7)

%

New Home Deliveries

(dollars in thousands)

Three Months Ended June 30,

2026

2025

% Change

Homes

Average Sales
Price

Homes

Average Sales

Price

Homes

Average Sales
Price

West

322

$

568.9

335

$

602.5

(3.9)

%

(5.6)

%

Mountain

416

476.5

396

521.0

5.1

%

(8.5)

%

Texas

527

290.8

501

294.2

5.2

%

(1.2)

%

Southeast

362

383.2

401

429.9

(9.7)

%

(10.9)

%

Century Complete

879

255.1

954

260.5

(7.9)

%

(2.1)

%

Total / Weighted Average

2,506

$

358.2

2,587

$

377.5

(3.1)

%

(5.1)

%

Six Months Ended June 30,

2026

2025

% Change

Homes

Average Sales
Price

Homes

Average Sales

Price

Homes

Average Sales

Price

West

599

$

568.8

638

$

601.0

(6.1)

%

(5.4)

%

Mountain

760

471.5

825

522.6

(7.9)

%

(9.8)

%

Texas

898

288.3

958

296.5

(6.3)

%

(2.8)

%

Southeast

677

388.2

704

435.7

(3.8)

%

(10.9)

%

Century Complete

1,585

259.3

1,746

260.5

(9.2)

%

(0.5)

%

Total / Weighted Average

4,519

$

361.1

4,871

$

381.9

(7.2)

%

(5.4)

%

Century Communities, Inc.

Homebuilding Operational Data

(Unaudited)

 Selling Communities

As of June 30,

Increase/Decrease

2026

2025

Amount

% Change

West

40

36

4

11.1

%

Mountain

53

51

2

3.9

%

Texas

89

75

14

18.7

%

Southeast

36

43

(7)

(16.3)

%

Century Complete

112

122

(10)

(8.2)

%

Total

330

327

3

0.9

%

Backlog

(dollars in thousands)

As of June 30,

2026

2025

% Change

Homes

Dollar Value

Average Sales

Price

Homes

Dollar Value

Average Sales

Price

Homes

Dollar Value

Average Sales

Price

West

165

$

94,173

$

570.7

236

$

142,012

$

601.7

(30.1)

%

(33.7)

%

(5.2)

%

Mountain

214

110,273

515.3

122

66,572

545.7

75.4

%

65.6

%

(5.6)

%

Texas

279

83,386

298.9

222

67,939

306.0

25.7

%

22.7

%

(2.3)

%

Southeast

168

71,714

426.9

174

75,720

435.2

(3.4)

%

(5.3)

%

(1.9)

%

Century Complete

438

109,726

250.5

463

113,747

245.7

(5.4)

%

(3.5)

%

2.0

%

Total / Weighted Average

1,264

$

469,272

$

371.3

1,217

$

465,990

$

382.9

3.9

%

0.7

%

(3.0)

%

Lot Inventory

As of June 30,

2026

2025

% Change

Owned

Controlled

Total

Owned

Controlled

Total

Owned

Controlled

Total

West

3,546

2,488

6,034

3,948

3,097

7,045

(10.2)

%

(19.7)

%

(14.4)

%

Mountain

7,491

2,203

9,694

8,905

1,344

10,249

(15.9)

%

63.9

%

(5.4)

%

Texas

13,725

2,981

16,706

14,900

5,493

20,393

(7.9)

%

(45.7)

%

(18.1)

%

Southeast

4,864

6,247

11,111

5,095

8,392

13,487

(4.5)

%

(25.6)

%

(17.6)

%

Century Complete

4,055

12,528

16,583

4,571

12,956

17,527

(11.3)

%

(3.3)

%

(5.4)

%

Total

33,681

26,447

60,128

37,419

31,282

68,701

(10.0)

%

(15.5)

%

(12.5)

%

% of Total

56.0 %

44.0 %

100.0 %

54.5 %

45.5 %

100.0 %

 Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

Adjusted net income and adjusted diluted earnings per share ("Adjusted EPS") are non-GAAP financial measures that the Company believes are useful to management, investors and other users of its financial information in evaluating its operating results and understanding its operating trends without the effect of specified factors that management believes affect comparability. The Company believes excluding specified factors that management believes affect comparability provides more comparable assessment of its financial results from period to period. The Company defines adjusted net income as consolidated net income before (i) income tax expense; (ii) inventory impairment; (iii) abandonment of lot option contracts; (iv) restructuring costs; (v) loss on debt extinguishment; (vi) impairment on other investment; and (vii) purchase price accounting for acquired work in process inventory; in each case, as applicable during a period, less adjusted income tax expense, calculated using the Company's estimated annual effective tax rate after discrete items for the applicable period. Adjusted EPS is calculated by dividing adjusted net income by weighted average common shares – diluted.

Adjusted Net Income and Adjusted Diluted Earnings Per Share

(in thousands, except share and per share amounts)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Numerator

Net income

$

36,148

$

34,854

$

60,557

$

74,238

Denominator

Weighted average common shares outstanding - basic

28,637,901

30,366,109

28,912,225

30,582,376

Dilutive effect of stock-based compensation awards

15,497

314,599

21,702

329,710

Weighted average common shares outstanding - diluted

28,653,398

30,680,708

28,933,927

30,912,086

Earnings per share:

Basic

$

1.26

$

1.15

$

2.09

$

2.43

Diluted

$

1.26

$

1.14

$

2.09

$

2.40

Adjusted earnings per share

Numerator

Net income

$

36,148

$

34,854

$

60,557

$

74,238

Income tax expense

12,920

12,229

21,842

25,363

Income before income tax expense

49,068

47,083

82,399

99,601

Inventory impairment

—

7,360

—

7,771

Abandonment of lot option contracts(1)

1,125

2,642

2,079

4,148

Restructuring costs

—

—

—

1,505

Purchase price accounting for acquired work in process inventory

613

2,041

1,301

3,933

Adjusted income before income tax expense

50,806

59,126

85,779

116,958

Adjusted income tax expense(2)

(13,467)

(15,056)

(22,738)

(29,783)

Adjusted net income

$

37,339

$

44,070

$

63,041

$

87,175

Denominator - Diluted

28,653,398

30,680,708

28,933,927

30,912,086

Adjusted diluted earnings per share

$

1.30

$

1.44

$

2.18

$

2.82

(1)

Beginning in the third quarter of 2025, the Company added "Abandonment of lot option contracts" as an adjustment in its non-GAAP adjusted net income calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.

(2)

The tax rates used in calculating adjusted net income for the three and six months ended June 30, 2026 were each 26.5%, respectively, which are reflective of our GAAP tax rates for the six months ended June 30, 2026. The tax rates used in calculating adjusted net income for the three and six months ended June 30, 2025 were each 25.5%, respectively, which are reflective of our GAAP tax rates for the six months ended June 30, 2025.

Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

Adjusted homebuilding gross margin excluding inventory impairment (if applicable), interest in cost of home sales revenues, and purchase price accounting for acquired work in process inventory (if applicable), is not a measurement of financial performance under GAAP; however, the Company's management believes that this information is meaningful as it isolates the impact that inventory impairment, indebtedness, and acquisitions have on homebuilding gross margin and permits the Company's stockholders to make better comparisons with the Company's competitors, who adjust gross margins in a similar fashion.  This non-GAAP financial measure should not be used as a substitute for the Company's GAAP operating results.  An analysis of any non-GAAP financial measure should be used in conjunction with results presented in accordance with GAAP.

Adjusted Homebuilding Gross Margin (in thousands)

Three Months Ended June 30,

2026

%

2025

%

Home sales revenues

$

897,528

100.0

%

$

976,467

100.0

%

Cost of home sales revenues(1)

(735,368)

(81.9)

%

(804,522)

(82.4)

%

Homebuilding gross margin

162,160

18.1

%

171,945

17.6

%

Add: Inventory impairment

—

—

%

7,360

0.8

%

Adjusted homebuilding gross margin excluding inventory impairment

162,160

18.1

%

179,305

18.4

%

Add: Interest in cost of home sales revenues

16,342

1.8

%

14,204

1.5

%

Add: Purchase price accounting for acquired work in process inventory

613

0.1

%

2,041

0.2

%

Adjusted homebuilding gross margin excluding interest, inventory impairment
and purchase price accounting for acquired work in process inventory

$

179,115

20.0

%

$

195,550

20.0

%

Six Months Ended June 30,

2026

%

2025

%

Home sales revenues

$

1,631,634

100.0

%

$

1,860,204

100.0

%

Cost of home sales revenues(1)

(1,338,659)

(82.0)

%

(1,512,437)

(81.3)

%

Homebuilding gross margin

292,975

18.0

%

347,767

18.7

%

Add: Inventory impairment

—

—

%

7,771

0.4

%

Adjusted homebuilding gross margin excluding inventory impairment

292,975

18.0

%

355,538

19.1

%

Add: Interest in cost of home sales revenues

29,512

1.8

%

26,989

1.5

%

Add: Purchase price accounting for acquired work in process inventory

1,301

0.1

%

3,933

0.2

%

Adjusted homebuilding gross margin excluding interest, inventory impairment

and purchase price accounting for acquired work in process inventory

$

323,788

19.8

%

$

386,460

20.8

%

(1)

Beginning in the fourth quarter of 2025, inventory impairment was reclassified to be included in cost of home sales revenues in the Company's consolidated statements of operations rather than presented as a separate line item and prior year amounts have been reclassified to conform to this presentation.

Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

EBITDA and Adjusted EBITDA

EBITDA and adjusted EBITDA are non-GAAP financial measures the Company uses as supplemental measures in evaluating operating performance. The Company defines EBITDA as net income before (i) income tax expense, (ii) interest in cost of home sales revenues, (iii) other interest expense (income), and (iv) depreciation and amortization expense. The Company defines adjusted EBITDA as EBITDA before inventory impairment, abandonment of lot option contracts, stock-based compensation expense, restructuring costs, loss on debt extinguishment, impairment on other investment, and purchase price accounting for acquired work in process inventory, in each case as applicable during a period. The Company believes EBITDA and adjusted EBITDA provide an indicator of general economic performance that is not affected by fluctuations in interest rates or effective tax rates, levels of depreciation or amortization, and other specified factors that management believes affect comparability. Accordingly, the Company's management believes that these measurements are useful for comparing general operating performance from period to period. EBITDA and adjusted EBITDA should be considered in addition to, and not as a substitute for, consolidated net income in accordance with GAAP as a measure of performance. The presentation of adjusted EBITDA should not be construed as an indication that the Company's future results will be unaffected by unusual or other specified factors that management believes affect comparability. Each of EBITDA and adjusted EBITDA is limited as an analytical tool, and should not be considered in isolation or as a substitute for analysis of the Company's results of operations as reported under GAAP.

(in thousands)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

% Change

2026

2025

% Change

Net income

$

36,148

$

34,854

3.7

%

$

60,557

$

74,238

(18.4)

%

Income tax expense

12,920

12,229

5.7

%

21,842

25,363

(13.9)

%

Interest in cost of home sales revenues

16,342

14,204

15.1

%

29,512

26,989

9.3

%

Interest expense (income)

218

(1,229)

(117.7)

%

387

(431)

(189.8)

%

Depreciation and amortization expense

5,389

6,434

(16.2)

%

10,741

12,862

(16.5)

%

EBITDA

$

71,017

$

66,492

6.8

%

$

123,039

$

139,021

(11.5)

%

Inventory impairment

—

7,360

(100.0)

%

—

7,771

(100.0)

%

Abandonment of lot option contracts (1)

1,125

2,642

(57.4)

%

2,079

4,148

(49.9)

%

Stock-based compensation expense (2)

5,400

7,941

(32.0)

%

7,180

8,233

(12.8)

%

Restructuring costs

—

—

—

%

—

1,505

(100.0)

%

Purchase price accounting for acquired work in process inventory

613

2,041

(70.0)

%

1,301

3,933

(66.9)

%

Adjusted EBITDA

$

78,155

$

86,476

(9.6)

%

$

133,599

$

164,611

(18.8)

%

(1)

Beginning in the third quarter of 2025, the Company added "Abandonment of lot option contracts" as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.

(2)

Beginning in the fourth quarter of 2025, the Company added "Stock-based compensation expense" as an adjustment in its non-GAAP adjusted EBITDA calculation. Accordingly, the corresponding prior period information has been recast to conform to the current presentation and calculation.

Century Communities, Inc.
Reconciliation of Non-GAAP Financial Measures
(Unaudited)

Ratio of Net Homebuilding Debt to Net Capital

The following table presents the Company's ratio of net homebuilding debt to net capital, which is a non-GAAP financial measure.  The Company calculates this by dividing net homebuilding debt (homebuilding debt less cash and cash equivalents, and cash held in escrow) by net capital (net homebuilding debt plus total stockholders' equity). Homebuilding debt is total debt minus outstanding borrowings under construction loan agreement and mortgage repurchase facilities. The most directly comparable GAAP measure is the ratio of homebuilding debt to capital. The Company believes the ratio of net homebuilding debt to net capital is a relevant and useful financial measure to investors in understanding the leverage employed in its operations and as an indicator of the Company's ability to obtain external financing.

(in thousands)

June 30,

December 31,

2026

2025

Notes payable

$

1,121,745

$

1,102,376

Revolving line of credit

329,600

51,500

Construction loan agreements

(118,982)

(90,269)

Total homebuilding debt

1,332,363

1,063,607

Total stockholders' equity

2,565,751

2,591,732

Total capital

$

3,898,114

$

3,655,339

Homebuilding debt to capital

34.2 %

29.1 %

Total homebuilding debt

$

1,332,363

$

1,063,607

Cash and cash equivalents

(92,334)

(109,443)

Cash held in escrow

(39,709)

(48,571)

Net homebuilding debt

1,200,320

905,593

Total stockholders' equity

2,565,751

2,591,732

Net capital

$

3,766,071

$

3,497,325

Net homebuilding debt to net capital

31.9 %

25.9 %

Contact Information: 
Tyler Langton, Senior Vice President of Investor Relations and Finance
303-268-8345
[email protected]

Category: 
Earnings

SOURCE Century Communities, Inc.

, /PRNewswire/ -- ONE Gas has released its 2026 Sustainability Report, highlighting the company's commitment to delivering affordable, reliable and safe natural gas while investing in system integrity, reducing emissions and supporting employees, customers and communities across Kansas, Oklahoma and Texas. The annual report highlights progress, projects and milestones from January 1, 2025, through December 31, 2025, unless noted otherwise.

"At ONE Gas, we're proud to deliver affordable, reliable natural gas to the customers we serve," said Robert S. McAnnally, chief executive officer of ONE Gas. "This report highlights how we meet today's energy needs while continuing to invest in the future, with a focus on safety, environmental stewardship, our employees and the communities we call home."

Sustainability Report Highlights

Safety and System Integrity
Safety remains ONE Gas' top Core Value. In 2025, the American Gas Association recognized ONE Gas with a Safety Achievement Award for the ninth consecutive year, reflecting the company's strong safety performance among similarly sized natural gas distribution companies. ONE Gas also replaced more than 400 miles of distribution mains, service lines and transmission lines to improve safety and reduce fugitive emissions. Environmental Stewardship
ONE Gas continued to make progress toward its 2035 goal to reduce Scope 1 emissions due to leaks from its distribution pipeline system by 55%, measured from an estimated 2005 baseline and accounting for projected system growth. As of Dec. 31, 2025, the company achieved an estimated 53% reduction. In 2025, ONE Gas also issued 26,477 energy efficiency rebates totaling approximately $14.1 million, helping customers reduce energy use and avoid an estimated 40,840 metric tons of CO2e emissions. Social Commitment
ONE Gas' commitment to service extends to employees, customers and communities. Employee engagement increased for the ninth consecutive year, with 91% of employees participating in the 2025 Gallup engagement survey and the company again ranking in the top quartile of Gallup's Overall Company Database. ONE Gas employees, retirees, family and friends also contributed more than 10,575 volunteer hours, while ONE Gas Foundation grants and community investments totaled $3.2 million across Kansas, Oklahoma and Texas. For a comprehensive look at ONE Gas' 2026 Sustainability Report, visit www.onegas.com

About ONE Gas
ONE Gas, Inc. (NYSE: OGS) is a 100% regulated natural gas utility, and trades on the New York Stock Exchange under the symbol "OGS." ONE Gas is included in the S&P MidCap 400 Index and is one of the largest natural gas utilities in the United States.

Headquartered in Tulsa, Oklahoma, ONE Gas provides a reliable and affordable energy choice to more than 2.3 million customers in Kansas, Oklahoma and Texas. Its divisions include Kansas Gas Service, the largest natural gas distributor in Kansas; Oklahoma Natural Gas, the largest in Oklahoma; and Texas Gas Service, the third largest in Texas, in terms of customers. 

For more information and the latest news about ONE Gas, visit onegas.com and follow its social channels: X, Facebook, LinkedIn and YouTube.

Media Contact:
Leah Harper
Phone: 918-947-7123
[email protected]

SOURCE ONE Gas, Inc.

HOUSTON--(BUSINESS WIRE)--Oceaneering Reports Second Quarter 2026 Results -- Strong second quarter.

BRENTWOOD, Tenn.--(BUSINESS WIRE)--Delek Logistics Partners, LP (NYSE: DKL) (“Delek Logistics”) today declared its quarterly cash distribution for the second quarter 2026 of $1.135 per common limited partner unit, or $4.54 per common limited partner unit on an annualized basis. The second quarter 2026 cash distribution is payable on August 10, 2026, to unitholders of record on August 3, 2026. About Delek Logistics Partners, LP Delek Logistics is a midstream energy master limited partnership hea.