STATE COLLEGE, Pa., Nov. 18, 2010 (GLOBE NEWSWIRE) -- Fulton Financial Corporations (Nasdaq:FULT) announced today that it has joined the Penn State Marcellus Education Consortium. Fulton Financial Corporation (FFC) is the parent company of eight affiliate banks, including Fulton Bank N.A., FNB Bank N.A, Swineford National Bank, Lafayette Ambassador Bank, and Clermont Wealth Strategies, the company's wealth management division.
The Consortium is an opportunity for business leaders, members of the community and public officials in the Marcellus Shale formation area to come together and provide expertise on topics relevant to Marcellus Shale. The Consortium will work to engage community members, public officials and businesses in educational discussions about the opportunities and issues that are a result of Marcellus gas exploration.
"The Marcellus Shale is a tremendous resource to residents in the Commonwealth, especially those individuals who may be involved in the agriculture industry or who may be land owners in that area," said Paul Nicholas, executive vice president of sales for Clermont Wealth Strategies. "We want to encourage the members of the community to learn more about the process of natural gas drilling, and also about how to successfully manage the economic opportunities resulting from the Marcellus play."
As a member of the Consortium, FFC will play a key role in developing educational programs related to the subject of Marcellus Shale. The corporation will provide expertise specifically addressing the financial considerations of individual land owners and businesses. Other subjects in the educational seminars will include the financial impact to the community and individuals, gas drilling and land rights, and the effect of gas well drilling on water supplies.
"The Marcellus Shale formation is a vast energy reserve and the mission of the Consortium is to use timely and unbiased research to assist citizens, businesses, elected officials and others to understand and respond to the challenges, opportunities and issues related to Marcellus Shale natural gas development," said John Rodgers, senior vice president of Fulton Bank, State College division. "As a leading financial institution, Fulton Financial Corporation is pleased to work with the members of the community and allow them to maximize their ability to understand and manage the benefits that natural gas drilling brings."
Fulton Financial Corporation is a Lancaster, Pennsylvania-based financial holding company which has nearly 3,800 employees and operates more than 270 banking offices in Pennsylvania, Maryland, Delaware, New Jersey and Virginia.