“For the Northwest Georgia group, those will be in May,” Preston said.
Company-specific rating rationales for the other banks are published separately, and for further discussion of the midtier regional bank sector in general, refer to the special report titled 'US Banks: Midtier Regional Bank Periodic Review,' to be published shortly.
Since 2012, FULT has repurchased a total of $375million shares as a means to optimize capital.
(The following statement was released by the rating agency) NEW YORK, January 23 (Fitch) Fitch Ratings has affirmed Fulton Financial Corp.'s (FULT) ratings at 'BBB /F2'. The affirmation reflects FULT's stable performance, established franchise and relatively low risk appetite. Fitch includes accruing restructured loans in its NPAs, which, as of 3Q16, measured 1.43% of total loans and is in line with the Fitch mid-tier regional bank peer group median.
The rating action follows a periodic review of the mid-tier regional banking group, which includes Bank United Inc. (BOKF), Cathay General Bancorp (CATY), East West Bancorp (EWBC), First Republic Bank (FRC), First Horizon National Corp. Should rates normalize further, Fitch would expect some degree of reversion in asset quality for most banks in the peer group, which is already incorporated in the ratings.
Previously, Synovus’ 30 affiliates all had their own charters, a source of costs and complexity at the holding company, which in late April raised $1 billion to shore up its capital base.