* Q3 EPS $0.10 vs est. $0.07
* Q3 net interest income $132.8 mln vs $134 mln last year
* Loan loss provision down 10 pct sequentially to $45 mln
Oct 20 (Reuters) - U.S. regional bank Fulton Financial Corp reported a better-than-expected third-quarter profit and said the rate of credit deterioration within its loan portfolio slowed during the quarter.
For the quarter, the company earned $18.3 million, or 10 cents a share, compared with $29.1 million, or 17 cents a share, a year earlier.
Analysts on average were expecting the company to earn 7 cents a share, excluding items, according to Thomson Reuters I/B/E/S.
'While the past year has been extremely challenging for us, the quarter just completed showed slowing in the rate of credit deterioration within our loan portfolio and, as a result, we were able to decrease the provision from the second quarter,' Chief Executive Scott Smith said in a statement.
Provision for loan losses fell 10 percent sequentially to $45 million.
Net interest income fell about a percent to $132.8 million.
Shares of the the Lancaster, Pennsylvania-based company closed at $7.25 Tuesday on Nasdaq. They were flat after the bell.
(Reporting by Abhinav Sharma in Bangalore; Editing by Unnikrishnan Nair) Keywords: FULTONFINANCIAL/ (abhinav.sharma@thomsonreuters.com; within U.S +1 646 223 8780; Outside U.S +91 080 4135 5800; Reuters messaging: abhinav.sharma.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q3 net interest income $132.8 mln vs $134 mln last year
* Loan loss provision down 10 pct sequentially to $45 mln
Oct 20 (Reuters) - U.S. regional bank Fulton Financial Corp reported a better-than-expected third-quarter profit and said the rate of credit deterioration within its loan portfolio slowed during the quarter.
For the quarter, the company earned $18.3 million, or 10 cents a share, compared with $29.1 million, or 17 cents a share, a year earlier.
Analysts on average were expecting the company to earn 7 cents a share, excluding items, according to Thomson Reuters I/B/E/S.
'While the past year has been extremely challenging for us, the quarter just completed showed slowing in the rate of credit deterioration within our loan portfolio and, as a result, we were able to decrease the provision from the second quarter,' Chief Executive Scott Smith said in a statement.
Provision for loan losses fell 10 percent sequentially to $45 million.
Net interest income fell about a percent to $132.8 million.
Shares of the the Lancaster, Pennsylvania-based company closed at $7.25 Tuesday on Nasdaq. They were flat after the bell.
(Reporting by Abhinav Sharma in Bangalore; Editing by Unnikrishnan Nair) Keywords: FULTONFINANCIAL/ (abhinav.sharma@thomsonreuters.com; within U.S +1 646 223 8780; Outside U.S +91 080 4135 5800; Reuters messaging: abhinav.sharma.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.