Overview together with the Module three assessment task details are presented in Appendix A.
As such, Fitch views the overall franchise strength of FULT
is better situated at the 'BBB+' category.
In line with management guidance at the start of the year, FULT
grew at loans at mid-to-high single digits growing at 7.
has considerable flexibility to service holding company obligations given that's its primary obligations include salary expenses which are mostly billed internally to bank subsidiaries and TRUPS allows interest payment deferral.
has considerable flexibility to service holding company obligations given the following: interest is up-streamed from subsidiary banks, subsidiaries have good dividend capacity and the holding company entities have a comfortable level of cash and other liquid assets.
However, a large portion of CRE consists of owner-occupied properties, and given that FULT
operates in relatively more stable markets of the Mid-Atlantic.
The pace of loan growth during 2008 has been notable and the addition of the preferred stock should allow FULT
to continue its lending activities.
More recently, loans have been put back to FULT
due to representation issues, primarily from misrepresentation by the borrower.
Tickers featured: ALAB, B, CBH, CNB, FCB, FULT
, GBTS, HARB, HBHC, LION, MRBK, NCFT, PBKS, S, SFI, SNV, STBA, UBSI, UCBI, VCBI, WB.
Tickers featured: ABNJ, AF, BAC, BKUNA, BNK, BRKL, C, CBMD, CHZ, FFFL, FNFG, FULT
, HCBK, HU, ICBC, IFCJ, ISBC, JPM, KRB, NAL, NFB, NWSB, NYB, PBCT, PFS, PFSB, PNC, RBS, ROME, SNBC, SOV, STI, TD, WB, WBS, WFC, YANB.
Ratings of FULT
are underpinned by its strong asset quality, solid earnings generation and sound capital position.
Tickers featured: BPFH, CBH, FCF, FNB, FRC, FULT
, NFB, STBA, SUSQ.