Spotlight On: Louis Lombardi, Executive Vice President & Director of Middle Market Banking, Fulton Bank
July 2025 — Louis Lombardi, executive vice president and director of middle market banking at Fulton Bank, spoke with Invest: New Jersey about operating in the diverse and dynamic New Jersey economy. “Middle-market companies in New Jersey look for a bank with a high level of sophistication and a wide range of products and services, and Fulton Bank offers everything they need,” he said.
In the year, what have been some of the notable achievements or milestones for Fulton Bank in New Jersey?
We’ve experienced significant growth in New Jersey. Last year, we acquired substantially all of the assets of Republic First Bank, which has expanded our presence, particularly in South Jersey. It has given us better locations in the market. We’ve added great talent and helped boost our market share and brand recognition in South Jersey.
What is your overview of the banking sector in New Jersey? What makes the state an ideal location for business expansion and relocation?
New Jersey is a diverse economy that sits between New York City and Philadelphia, a major corridor for the Northeast and mid-Atlantic. The location is ideal. There are many higher education institutions developing talent in the region. The state has the diversity of higher education, healthcare, agriculture, manufacturing, and distribution in a concentrated geographic location. Tourism from the Jersey Shore is popular. The overall economy in New Jersey has done well.
In the banking sector, there has been consolidation in recent years, but there’s still a big opportunity for growth for Fulton Bank. We are smaller and more nimble than our larger competitors, but we’re not a small bank. Middle-market companies in New Jersey look for a bank with a high level of sophistication and a wide range of products and services, and Fulton Bank offers everything they need.
There has been an influx of new residents and businesses relocating to the New Jersey region. What impact does that have on Fulton Bank?
We’ve seen more multifamily developments as new residents move into the state, so there’s no shortage of opportunity there. We have a team dedicated to the tech and life sciences sectors, which is a growing field in New Jersey that we’ve been involved with.
What recent regulatory developments have had the most significant impact on Fulton Bank’s operations?
We will assess new rules and regulations as they happen and make adjustments to our operations as we see appropriate.
How is digital transformation affecting middle market banking, and what steps is Fulton Bank taking to integrate new technologies?
We are looking at ways to make the onboarding process more automated. Workflows that require a manual touch will be more automated. It will make our operations more efficient and will improve the client experience. We are exploring how to utilize AI relative to prospecting and growth initiatives, finding new opportunities for existing and prospective clients. We are working with multiple third-party partners to explore the possibilities.
What are the biggest challenges the banking and finance industry is facing?
The main challenges we face deal with interest rates. We had many years of low interest rates before they went up significantly a few years ago. Clients in New Jersey are feeling the impact of the rising interest rate environment. We pay close attention to changes in interest rates and their impact on different sectors, in particular the investment real estate sector. Tariffs are also a focus, and we are having many conversations with clients about the impact of tariffs. We are monitoring potential reshoring of manufacturing back to the United States. Another challenge over the last few years has been inflation.
In the context of labor constraints, what strategies is Fulton Bank employing to attract, retain, and develop talent?
We’re having more success attracting new talent, and we’re focused on retention. We have management training programs that recruit college graduates. We have an expanded list of leadership development programs for individual contributors, mid-level management, and executive management. These programs have helped us with our internal succession planning and development opportunities for employees. We have a number of initiatives focused on employee engagement. We have a coaching philosophy that our managers are trained on, which helps drive employee engagement. We are focused on developing our culture and employee engagement, and these components have helped us recruit and retain talented team members.
What are the top near-term priorities and goals for Fulton Bank, and what is your outlook for the New Jersey banking sector over that time?
Fulton Bank is focused on continuing our growth by expanding relationships with current customers and building relationships with new ones. We recognize that the best way for us to grow is to help our customers grow and succeed. We do that by serving as trusted advisors for our clients. We are looking at the middle-market space and focusing on driving value to customers. We will talk to existing clients, third parties that have expertise in the area, and nonbank competitors in the middle market. We have multiple strategy initiatives to bring more value to the middle market. We want to ensure we are at the forefront of technology and developing digital services that clients expect.
Relative to New Jersey, there’s a lot of opportunity when you look at how balanced the economy is here. There’s a good level of diversity in every respect, which serves as a buffer when there is uncertainty in the economy.
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