Fulton Financial Corporation initiated its ambitious FultonFirst initiative, a strategic transformation program designed to simplify its operating model and enhance productivity. This program, planned as a 12-18 month undertaking, aims to sharpen the company's focus on core relationship banking.
Under the FultonFirst initiative, the company is undertaking tangible actions such as consolidating financial centers, with 16 locations already consolidated, exceeding initial estimates. It is also realigning commercial segments to better target specific customer needs and making targeted investments in high-potential areas like the Business Banking segment.
A key strategic decision under this initiative was the exit of the indirect auto lending channel, allowing Fulton to pivot towards higher-margin, relationship-oriented lending products. This comprehensive program is critical for creating a more efficient, focused, and competitive institution in its markets.
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