Fulton Financial Reinvests in Communities and Employees
January 18 2018 - 5:11PM
Business Wire
Fulton Financial Corporation (NASDAQ: FULT) (“Fulton”) announced
today that during 2018, it will invest an additional $2 million in
the communities it serves as part of its Fulton ForwardTM
initiative; and the company will raise the minimum wage paid to
employees in addition to providing an additional week of pay at
year-end to employees who do not participate in an incentive
plan.
“At Fulton, we understand that our future is connected to the
communities where we operate and the employees who serve them,”
said E. Philip Wenger, Chairman and CEO of Fulton Financial. “It
makes sense for us to share the benefits of tax reform, and we’re
very pleased to be able to give back to our communities and
employees.”
As a result of the recently enacted Tax Cuts and Jobs Act of
2017, Fulton will commit an additional $2 million as part of its
Fulton ForwardTM Initiative, which broadly supports communities
across the company’s footprint. The initiative was designed to
support underserved communities to create affordable housing,
provide financial literacy and education programs, and to
accelerate economic development.
In addition to expanding its community support, Fulton also will
raise its minimum wage to $12 per hour. The company also plans to
provide an additional week of pay in 2018 to employees, who are not
participants in other variable-award plans. It is expected that 75%
of Fulton’s approximately 3,700 employees will receive this
additional week of pay.
“Giving is a cornerstone of our culture, and we already provide
thousands of volunteer hours and millions of dollars of existing
support to community organizations,” said Wenger. “I am thrilled
that our communities and employees will benefit from the savings we
will realize from the changes in our corporate tax rate.”
Safe Harbor Statement
This news release may contain forward-looking statements with
respect to the Corporation’s financial condition, results of
operations and business. Do not unduly rely on forward-looking
statements. Forward-looking statements can be identified by the use
of words such as "may," "should," "will," "could," "estimates,"
"predicts," "potential," "continue," "anticipates," "believes,"
"plans," "expects," "future," "intends" and similar expressions
which are intended to identify forward-looking statements. These
forward-looking statements are not guarantees of future performance
and are subject to risks and uncertainties, some of which are
beyond the Corporation's control and ability to predict, that could
cause actual results to differ materially from those expressed in
the forward-looking statements.
A discussion of certain risks and uncertainties affecting the
Corporation, and some of the factors that could cause the
Corporation's actual results to differ materially from those
described in the forward-looking statements, can be found in 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, 2016 and Quarterly Reports on Form 10-Q for the
quarters ended March 31, 2017, June 30, 2017 and September 30,
2017, which have been filed with the Securities and Exchange
Commission and are available in the Investor Relations section of
the Corporation's website (www.fult.com) and on the Securities and
Exchange Commission's website (www.sec.gov). 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.
Learn more about Fulton Financial Corporation at
www.fult.com.
Fulton Financial Corporation, a $20 billion Lancaster, PA-based
financial holding company, has approximately 3,700 employees and
operates more than 240 offices in Pennsylvania, Maryland, Delaware,
New Jersey and Virginia through six subsidiary banks.
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version on businesswire.com: http://www.businesswire.com/news/home/20180118006482/en/
Fulton Financial CorporationNicole Wamsley,
717-291-2831
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