Fulton Financial’s R. Scott Smith, Jr. Announces Plans to Retire; Board of …

R. Scott Smith, Jr., chairman and chief executive officer of Fulton
Financial Corporation

/quotes/zigman/72418/quotes/nls/fult FULT

, today announced that he will
retire on December 31, 2012. Also today, the Corporation’s board of
directors named E. Philip Wenger, currently the company’s president
and chief operating officer, to succeed Smith as chairman, president
and chief executive officer, effective January 1, 2013. After he
retires, Smith will continue to serve as a director of the

Smith joined Fulton Bank, the Corporation’s flagship bank, as
director of Human Resources in 1978. He went on to assume a variety
of positions at the bank before being promoted to chairman, president
and CEO of Fulton Bank in 1998. Around this time, Smith also began to
assume additional responsibilities as executive vice president of
Fulton Financial Corporation. In 2001, he was named president and
chief operating officer and a director of Fulton Financial
Corporation, and in 2006, he was promoted to chairman, president and
chief executive officer.

At retirement, Smith’s career with the company will have spanned 34
years. During his tenure as CEO, the company’s assets grew from $12.4
billion to $16.4 billion and the number of banking offices increased
from 232 to 270 locations.

Smith also contributed to the banking industry on a national level,
serving on the boards of the Federal Reserve Bank of Philadelphia
(2011-present) and the American Bankers Association (2006-2009). He
served as a director on the Federal Advisory Council to the Federal
Reserve Board (2008-2010), where he was one of twelve bankers to meet
with Chairman Bernanke and the Federal Reserve’s board of governors
to provide information and opinions on financial services and the
economy. Smith has also been an active volunteer with numerous local
community organizations.

“It has been a real privilege to have spent most of my banking career
with Fulton,” said Smith. “I have always believed the success of any
company is dependent on the employees at all levels. Our strategy has
been that long-term, loyal employees create long-term, loyal
customers, who create long-term, loyal shareholders. I have strived
to create a company culture where that strategy is pervasive.”

“In December,” continued Smith, “I will leave with complete
confidence that Phil Wenger and his Senior Management team will lead
Fulton Financial Corporation to even greater success in years to

“I’ve learned a lot from working with Scott Smith for the past 33
years,” said Phil Wenger, president and chief operating officer. “He
has been instrumental in helping the Corporation navigate the
economic downturn, exhibiting wise judgment and balanced leadership
while adapting to the changing world of financial services. He taught
us to be better at banking, better at serving our customers, and
better at helping our community, and those are lessons that will stay
with us for many years to come.”

Wenger joined Fulton Bank in 1979. He assumed a variety of positions
in the corporate lending area before being promoted to executive vice
president of Corporate Banking in 1996. In 2001, Wenger was named
senior executive vice president of the Lancaster, York, and Chester
Counties Division and in 2003, he was promoted to the position of
president and chief operating officer of Fulton Bank. In 2006, Wenger
was named chairman and chief executive officer of Fulton Bank. He was
named senior executive vice president of Fulton Financial
Corporation, the parent company of Fulton Bank, at the time as well.
Wenger was promoted to president and chief operating officer in
December 2008.

Fulton Financial Corporation is a Lancaster, Pennsylvania-based
financial holding company which has 3,850 employees and operates more
than 270 banking offices in Pennsylvania, Maryland, Delaware, New
Jersey and Virginia through the following affiliates: Fulton Bank,
N.A., Lancaster, PA; Swineford National Bank, Middleburg, PA;
Lafayette Ambassador Bank, Easton, PA; FNB Bank, N.A., Danville, PA;
Fulton Bank of New Jersey, Mt. Laurel, NJ; and The Columbia Bank,
Columbia, MD.

The Corporation’s investment management and trust services are
offered at all banks through Fulton Financial Advisors, a division of
Fulton Bank, N.A. Residential mortgage lending is offered by all
banks through Fulton Mortgage Company.

Additional information on Fulton Financial Corporation is available
on the Internet at
www.fult.com .

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Laura J. Wakeley
Office: 717-291-2616

SOURCE: Fulton Financial Corporation

Copyright 2012 Marketwire, Inc., All rights reserved.


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Fulton Financial Corp.


: U.S.: Nasdaq



Volume: 986,118
April 20, 2012 4:00p

P/E Ratio13.71
Dividend Yield2.73%

Market Cap$2.06 billion
Rev. per Employee$249,493