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DOJ takes no action as fair lending probe into Fulton Financial wraps up

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DOJ takes no action as fair lending probe into Fulton Financial wraps up

The U.S. Justice Department has completed its fair lending investigation of Lancaster, Pa.-based Fulton Financial Corp. without taking any action.

The company made the disclosure in its third-quarter earnings release, reporting net income of $62.1 million, or 37 cents per share, down from $65.6 million, or 37 cents per share, in the year-ago period.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was 35 cents.

Provision for credit losses was $2.2 million, up from $1.6 million in the year-ago quarter.

Net interest margin was 3.31%, down from 3.42% a year ago.

The bank's total assets were $21.70 billion, up from $21.31 billion at the end of the second quarter and $20.36 billion a year ago.

Loans net of unearned income at the end of the quarter stood at $16.69 billion, compared to $16.37 billion in the linked quarter and $15.93 billion at the end of the third quarter of 2018.

Total deposits were $17.34 billion, compared to $16.25 billion a year earlier.