Fulton Financial Corporation - Shareholder/Analyst Call

Fulton Financial Corporation (FULT)

April 30, 2012 10:00 am ET


R. Scott Smith - Chairman, Chief Executive Officer, Member of Executive Committee and Ex-officio Member of Risk Management Committee

Unknown Executive -

E. Philip Wenger - President, Chief Operating Officer, Director, Member of Executive Committee and Ex-officio Member of Risk Management Committee


R. Scott Smith

Good morning. Welcome to Fulton Financial Corporation's Annual Shareholders Meeting. I'm Scott Smith, Chairman and Chief Executive Officer of your company.

As Chairman of this meeting, and in accordance with the provisions of the bylaws, I hereby call the meeting to order and appoint George R. Barr as Secretary. The Secretary of the corporation has filed proof that proper notice of the meeting has been given and that a legal quorum is present. The meeting is now lawfully convened and ready to transact business.

The agenda for today's meeting is on the screen. I assume that those shareholders who are present will want their proxies voted -- to stand and to be voted as filed. However, if any shareholder has not voted or wishes to revoke his or her proxy and vote in person, he or she may obtain a ballot from the judge of election at this time. The polls will remain open for a few more minutes, and the judge of election will be available to help any shareholder, who wishes to vote in person.

The minutes of the 2011 annual meeting are available for inspection at the desk of the judge of election and may be examined by any shareholder during the meeting. We've asked Sally Robb [ph] to serve as judge of election. Ms. Robb [ph] has filed her oath with the Secretary of the meeting, and I hereby direct that it may be made part of the minutes.

On behalf of the Board of Directors, I hereby nominate each of the 13 nominees identified in the proxy statement for election to the Board of Directors for a one-year term. In accordance with the bylaws, I hereby declare the nominations to be closed.

I also move that we approve the 2 other resolutions outlined in our proxy statement. They are: a nonbinding say-on-pay resolution to approve the compensation of the named executive officers; and the ratification of the appointment of KPMG LLP as Fulton Financial's independent auditor for the fiscal year ending December 31, 2012.

Today's meeting is being carried via live webcast, which will be available for the next 30 days on our website at fult.com. Our company shareholders live in many different places and through the webcast, we are able to bring today's program to those who are not able to be with us in person.

At this time, I would like to make some brief introductions. After that, I will call on the judge of election for her report, and I will then end the business meeting. Then Phil Wenger, President and Chief Operating Officer, will discuss Fulton Financial's milestones and financial performance over the past year. Phil's formal remarks are finished -- when Phil's formal remarks are finished, we will open the floor for questions.

First, I will introduce the members of Fulton Financial Corporation's Board of Directors, most of whom are seated throughout the room. Jeff Albertson, partner, Albertson Law Office; Joe Ballard, Lieutenant General, U.S. Army, Retired, and President and CEO of The Ravens Group; John Bond, past Chairman, the Columbia Bank; Craig Dally, Judge, Third Judicial District of Pennsylvania, and Chair of our Nominating and Corporate Governance Committee; Pat Freer, President, Strickler Insurance Agency Incorporated and Chair of the Human Resources Committee; Rufus Fulton, Retired Chairman of Fulton Financial Corporation, and Chair of the Risk Management Committee; George Hodges, Retired Chairman, The Wolf Organization Inc. George chairs our Executive and Audit Committees and serves as our Lead Director. Willem Kooyker, Chairman and CEO of Blenheim Capital Management LLC; Don Lesher, Retired President, Lesher Mack Sales and Service; Al Morrison, Chairman of the Board, Retired Chief Executive Officer, Burnham Holdings Inc. and now is our newest director. He joined the Board in January of this year. Gary Stewart, partner, Stewart Associates; and Phil Wenger, President and Chief Operating Officer of Fulton Financial Corporation.

Sadly, last November, we marked the untimely passing of Director John Shirk. John was an attorney, served for more than 28 years on the Board of both Fulton Financial Corporation and Fulton Bank. John was a consummate Director. He was always prepared. He had a keen understanding of the important role a Director played in helping to guide a company. He did not hesitate to challenge management on important issues, and his motivation for doing so was always to do what was best for the organization and its constituencies. We are grateful for John's many years of service to our company.

In addition to Phil Wenger, whom I've already introduced, I'd like to introduce the other 4 members of the Fulton Financial Corporation senior management team, who are seated here on stage. Charlie Nugent, Senior Executive Vice President and Chief Financial Officer; Jim Shreiner, Senior Executive Vice President for Administrative Services; Craig Hill, Senior Executive Vice President for Human Resources; and our newest member of the senior management team, Craig Roda, Senior Executive Vice President for Community Banking. Craig was promoted to senior management last June, and he brings more than 30 years of banking experience to our management team.

I will now introduce the CEOs and Presidents from our affiliate banks and major business divisions. First, Jerry Nole [ph], Head of our Central and Northeastern Pennsylvania regions; Jill Carson, Fulton Mortgage Company; Rocco Del Vecchio, Lafayette Ambassador Bank; Dave Hanson, Fulton Financial Advisors and Clermont Wealth Strategies; Bryan Holmes, FNB Bank; Curt Meyers, Fulton Bank N.A.; John Scaldara, The Columbia Bank; Angela Snyder, Fulton Bank of New Jersey; and Mike Wimer, Swineford National Bank.

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