EXHIBIT 99.1 - Risk Factors


An investment in Fulton Financial Corporation (Fulton) common stock involves
certain risks, including, among others, the risks described below. In addition
to the other information contained in this report, you should carefully consider
the following risk factors.


                    RISK FACTORS RELATED TO FULTON'S BUSINESS

CHANGES IN INTEREST RATES MAY HAVE AN ADVERSE EFFECT ON FULTON'S PROFITABILITY.

Fulton and its subsidiary banks are affected by fiscal and monetary policies of
the federal government, including those of the Federal Reserve Board, which
regulates the national money supply in order to manage recessionary and
inflationary pressures. Among the techniques available to the Federal Reserve
Board are engaging in open market transactions of U.S. Government securities,
changing the discount rate and changing reserve requirements against bank
deposits. The use of these techniques may also affect interest rates charged on
loans and paid on deposits.

Net interest income is the most significant component of Fulton's net income,
accounting for approximately 75% of total revenues in 2005, excluding investment
security gains. The narrowing of interest rate spreads, the difference between
interest rates earned on loans and investments and interest rates paid on
deposits and borrowings, would adversely affect Fulton's earnings and financial
condition. Among other things, regional and local economic conditions as well as
fiscal and monetary policies of the federal government, including those of the
Federal Reserve Board, may affect prevailing interest rates. Fulton cannot
predict or control changes in interest rates.

The absolute difference between short-term interest rates and intermediate-term
interest rates can also affect Fulton's net interest income. When
intermediate-term interest rates exceed short-term interest rates, generally, an
increase in the interest rate differential will increase the net interest income
earned by Fulton on a portion of its earning assets. Conversely, a reduction in
the interest rate differential will generally cause a reduction in net interest
income earned by Fulton on a portion of its earning assets.

CHANGES IN ECONOMIC CONDITIONS AND THE COMPOSITION OF FULTON'S LOAN PORTFOLIOS
COULD LEAD TO HIGHER LOAN CHARGE-OFFS OR AN INCREASE IN FULTON'S ALLOWANCE FOR
LOAN LOSSES AND MAY REDUCE FULTON'S INCOME.

Changes in national and regional economic conditions could impact the loan
portfolios of Fulton's subsidiary banks. For example, an increase in
unemployment, a decrease in real estate values or increases in interest rates,
as well as other factors, could weaken the economies of the communities Fulton
serves. Weakness in the market areas served by Fulton's subsidiary banks could
depress its earnings and consequently its financial condition because:

      o     customers may not want or need Fulton's products or services;

      o     borrowers may not be able to repay their loans;

      o     the value of the collateral securing Fulton's loans to borrowers may
            decline; and

      o     the quality of Fulton's loan portfolio may decline.

Any of the latter three scenarios could require Fulton to "charge-off" a higher
percentage of its loans and/or increase its provision for loan and lease losses,
which would reduce its income.

In addition, the amount of Fulton's provision for loan losses and the percentage
of loans it is required to "charge-off" may be impacted by the overall risk
composition of the loan portfolio. Recently, the amount of Fulton's commercial
loans (including agricultural loans) and commercial mortgages have increased,
comprising a greater percentage of its overall loan portfolio. These loans are
inherently more risky than certain other types of loans, such as residential
mortgage loans. While Fulton believes that its allowance for



loan losses as of December 31, 2005 is sufficient to cover losses inherent in
the loan portfolio on that date, Fulton cannot assure you that it will not be
required to increase its loan-loss provision or "charge-off" a higher percentage
of loans due to changes in the risk characteristics of the loan portfolio,
thereby reducing its net income. To the extent any of Fulton's subsidiary banks
rely more heavily on loans secured by real estate than the banking industry in
general, a decrease in real estate values could cause higher loan losses on
non-performing loans and require higher loan loss provisions.

FLUCTUATIONS IN THE VALUE OF FULTON'S EQUITY PORTFOLIO, OR ASSETS UNDER
MANAGEMENT BY FULTON'S TRUST AND INVESTMENT MANAGEMENT SERVICES, COULD HAVE A
MATERIAL IMPACT ON FULTON'S RESULTS OF OPERATIONS.

Fulton's equity portfolio consists primarily of common stock of publicly traded
financial institutions. The unrealized gains on the equity portfolio represent a
potential source of revenue for Fulton. The value of the securities in Fulton's
equity portfolio may be affected by a number of factors, including factors that
impact the performance of the U.S. securities market in general and, due to the
concentration in stocks of financial institutions in Fulton's equity portfolio,
specific risks associated with that sector. If the value of one or more equity
securities in the portfolio were to decline significantly, this revenue could be
reduced or lost in its entirety. In addition to Fulton's equity portfolio,
Fulton's investment management and trust services could be impacted by
fluctuations in the securities market. A portion of Fulton's trust revenue is
based on the value of the underlying investment portfolios. If the value of
those investment portfolios decreases, whether due to factors influencing U.S.
securities markets in general, or otherwise, Fulton's revenue could be
negatively impacted. In addition, Fulton's ability to sell its brokerage
services is dependent, in part, upon consumers' level of confidence in the
outlook for rising securities prices.

IF FULTON IS UNABLE TO ACQUIRE ADDITIONAL BANKS ON FAVORABLE TERMS OR IF IT
FAILS TO SUCCESSFULLY INTEGRATE OR IMPROVE THE OPERATIONS OF ACQUIRED BANKS,
FULTON MAY BE UNABLE TO EXECUTE ITS GROWTH STRATEGIES.

Fulton has historically supplemented its internal growth with strategic
acquisitions of banks, branches and other financial services companies. There
can be no assurance that Fulton will be able to effect future acquisitions on
favorable terms or that it will be able to assimilate acquired institutions
successfully. In addition, with acquisitions, Fulton may not be able to achieve
anticipated cost savings or operating results. Acquired institutions also may
have unknown or contingent liabilities or deficiencies in internal controls that
could result in material liabilities or negatively impact Fulton's ability to
complete the internal control procedures required under federal securities laws,
rules and regulations or by certain laws, rules and regulations applicable to
the banking industry.

IF THE GOODWILL THAT FULTON HAS RECORDED IN CONNECTION WITH ITS ACQUISITIONS
BECOMES IMPAIRED, IT COULD HAVE A NEGATIVE IMPACT ON FULTON'S PROFITABILITY.

Applicable accounting standards require that the purchase method of accounting
be used for all business combinations. Under purchase accounting, if the
purchase price of an acquired company exceeds the fair value of the company's
net assets, the excess is carried on the acquirer's balance sheet as goodwill.
At December 31, 2005, Fulton had approximately $419 million of goodwill on its
balance sheet. Companies must evaluate goodwill for impairment at least
annually. Write downs of the amount of any impairment, if necessary, are to be
charged to the results of operations in the period in which the impairment is
determined. Based on tests of goodwill impairment conducted to date, Fulton has
concluded that there has been no impairment, and no write-downs have been
recorded. However, there can be no assurance that the future evaluations of
goodwill will not result in findings of impairment and write-downs.

THE COMPETITION FULTON FACES IS INCREASING AND MAY REDUCE FULTON'S CUSTOMER BASE
AND NEGATIVELY IMPACT FULTON'S RESULTS OF OPERATIONS.

There is significant competition among commercial banks in the market areas
served by Fulton's subsidiary banks. In addition, as a result of the
deregulation of the financial industry, Fulton's subsidiary banks also compete
with other providers of financial services such as savings and loan
associations, credit unions, consumer finance companies, securities firms,
insurance companies, commercial finance and leasing companies, the mutual funds
industry, full service brokerage firms and discount brokerage firms, some of



which are subject to less extensive regulations than Fulton is with respect to
the products and services they provide. Some of Fulton's competitors, including
certain super-regional and national bank holding companies that have made
acquisitions in its market area, have greater resources than Fulton has, and as
such, may have higher lending limits and may offer other services not offered by
Fulton.

Fulton also experiences competition from a variety of institutions outside its
market areas. Some of these institutions conduct business primarily over the
Internet and may thus be able to realize certain cost savings and offer products
and services at more favorable rates and with greater convenience to the
customer.

Competition may adversely affect the rates Fulton pays on deposits and charges
on loans, thereby potentially adversely affecting Fulton's profitability.
Fulton's profitability depends upon its continued ability to successfully
compete in the market areas it serves while achieving its investment objectives.

THE SUPERVISION AND REGULATION TO WHICH FULTON IS SUBJECT CAN BE A COMPETITIVE
DISADVANTAGE.

Fulton is a registered financial holding company, and its subsidiary banks are
depository institutions whose deposits are insured by the Federal Deposit
Insurance Corporation (FDIC). As a result, Fulton and its subsidiaries are
subject to various regulations and examinations by various regulatory
authorities. In general, statutes establish the corporate governance and
eligible business activities for Fulton, certain acquisition and merger
restrictions, limitations on inter-company transactions such as loans and
dividends, and capital adequacy requirements, requirements for anti-money
laundering programs and other compliance matters, among other regulations.
Fulton is extensively regulated under federal and state banking laws and
regulations that are intended primarily for the protection of depositors,
federal deposit insurance funds and the banking system as a whole. Compliance
with these statutes and regulations is important to Fulton's ability to engage
in new activities and to consummate additional acquisitions. In addition, Fulton
is subject to changes in federal and state tax laws as well as changes in
banking and credit regulations, accounting principles and governmental economic
and monetary policies. Fulton cannot predict whether any of these changes may
adversely and materially affect it. Federal and state banking regulators also
possess broad powers to take supervisory actions as they deem appropriate. These
supervisory actions may result in higher capital requirements, higher insurance
premiums and limitations on Fulton's activities that could have a material
adverse effect on its business and profitability. While these statutes are
generally designed to minimize potential loss to depositors and the FDIC
insurance funds, they do not eliminate risk, and compliance with such statutes
increases Fulton's expense, requires management's attention and can be a
disadvantage from a competitive standpoint with respect to non-regulated
competitors.