FULTON FINANCIAL CORPFULT

FULTON FINANCIAL CORP Goodwill & Intangibles Disclosure

10-KFiled Feb 27, 20261 min read
NOTE 7 - GOODWILL AND INTANGIBLE ASSETS
Goodwill totaled $553.3 million as of December 31, 2025 and 2024, respectively. There were no goodwill impairment charges in 2025 based on the Corporation's annual assessment.
The estimated fair values of the Corporation's reporting units are subject to uncertainty, including future changes in fair values of banks in general and future operating results of reporting units, which could differ significantly from the assumptions used in the current valuation of reporting units.
The following table summarizes intangible assets, which are included in goodwill and net intangible assets on the Consolidated Balance Sheets:
December 31,
20252024
(dollars in thousands)
Amortizing intangible assets$106,196 $106,196 
Accumulated amortization(46,546)(24,085)
Net intangibles$59,650 $82,111 
Net intangibles included CDI of $58.2 million and $80.2 million as of December 31, 2025 and 2024, respectively. The CDI was recorded as part of the Republic First Transaction and the Prudential Bancorp merger and is being amortized over seven years using the sum-of-the-years'-digits method.
The following table summarizes CDI amortization expense for each of the next five years and thereafter (dollars in thousands):
Year
2026$18,667 
202715,066 
202811,213 
20297,717 
20304,409 
Thereafter1,102 
Total$58,174 
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About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

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