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Fulton reports Q2 earnings decrease

Lancaster-based Fulton Financial Corp. today reported second-quarter earnings of $39.8 million, down 14.8 percent from the year-ago quarter.

Lancaster-based Fulton Financial Corp. today reported second-quarter earnings of $39.8 million, down 14.8 percent from the year-ago quarter.

During the three months that ended June 30, the institution recorded a $3.4 million charge related to expected losses from the potential repurchase of residential mortgage loans and home-equity loans, according to Fulton. Fulton also took a $1.5 million severance expense related to company-wide workforce changes.

Just before 11 a.m., Fulton shares were down 70 cents, or 4.78 percent, on the Nasdaq. Fulton trades under the ticker symbol FULT.

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