Welcome to our dedicated page for American National Bankshares news (Ticker: AMNB), a resource for investors and traders seeking the latest updates and insights on American National Bankshares stock.
American National Bankshares Inc. (NASDAQ: AMNB) is a multi-state bank holding company headquartered in Danville, Virginia. Established in 1909, the company operates under its primary subsidiary, American National Bank and Trust Company. With approximately 26 full-service banking offices spread across Virginia and North Carolina, American National Bank serves as a vital community bank offering a wide range of financial services.
American National Bank provides comprehensive financial services that include personal and business banking, wealth management, mortgage services, and investment products. The bank manages an additional $1.2 billion in trust, investment, and brokerage assets through its Wealth Management Division.
Recent Milestones and Financial Performance
In recent news, American National reported its fourth quarter 2023 earnings of $4.0 million, translating to $0.38 per diluted common share. This reflects a decrease from the previous quarter's earnings of $5.8 million but an increase in its overall annual performance with earnings totaling $26.2 million for the year. The company continues to maintain a robust balance sheet with total assets approximating $3.1 billion, a slight increase from the previous year.
Additionally, American National has declared a quarterly cash dividend of $0.30 per common share, payable on December 15, 2023. The dividend yield, based on the stock's closing price of $43.08 as of November 20, 2023, is approximately 2.8%.
Strategic Developments
A significant development for American National is its definitive merger agreement with Atlantic Union Bankshares Corporation (NYSE: AUB). This merger is expected to enhance its presence in Southwest and Southside Virginia, and also provide entry into North Carolina’s attractive Piedmont Triad region and Raleigh. The merger aims to create a stronger regional bank with combined assets of $23.7 billion, total deposits of $19.1 billion, and gross loans of $17.3 billion, based on financial data as of June 30, 2023. The transaction is projected to close in the first quarter of 2024, subject to regulatory and shareholder approvals.
Community and Market Position
American National Bank remains committed to community banking principles, supporting local businesses, and individuals with personalized banking services. Its long-standing history and strong market presence in Virginia and North Carolina enable it to compete effectively against larger national and regional banks.
To learn more about American National Bankshares Inc., visit their About Us page or explore their various locations here.
American National Bankshares Inc. (NASDAQ: AMNB) announced a quarterly cash dividend of $0.28 per common share, payable on March 18, 2022, to shareholders of record as of March 4, 2022. This dividend amount remains consistent with the previous quarter’s dividend. Based on the stock's closing price of $38.38 on February 14, 2022, the dividend yield is approximately 2.9%.
Headquartered in Danville, Virginia, American National has total assets of approximately $3.3 billion and operates 26 banking offices in Virginia and North Carolina.
American National Bankshares announced a stock repurchase program of up to $13 million, set to run through December 31, 2022. The repurchases will occur in open markets or private transactions at market prices, with details on timing and amounts to be determined by market conditions. American National, with $3.3 billion in total assets, operates 26 banking offices in Virginia and North Carolina and manages an additional $1.2 billion in trust, investment, and brokerage assets.
American National Bankshares (NASDAQ: AMNB) reported fourth quarter 2021 earnings of $11.3 million ($1.05 per diluted share), an increase from $8.8 million ($0.80 per share) a year earlier. Full-year earnings reached $43.5 million ($4.00 per share), up from $30 million ($2.73 per share) in 2020. Core loans grew 6.6% annualized despite paydowns, while deposits rose 5.3% quarter-over-quarter. Notably, the Company recognized a negative provision for loan losses of $2 million. Total assets increased to $3.3 billion, reflecting ongoing core deposit growth and loan activity.
American National Bankshares Inc. (NASDAQ: AMNB) has declared a quarterly cash dividend of $0.28 per common share, payable on December 17, 2021, to shareholders of record on December 3, 2021. This marks a 3.7% increase from the previous quarter's dividend. With a closing stock price of $38.70 on November 16, 2021, the dividend yield is approximately 2.9%. American National, headquartered in Danville, Virginia, oversees assets totaling around $3.3 billion and operates 26 banking offices in Virginia and North Carolina.
American National Bankshares Inc. (NASDAQ: AMNB) reported third quarter 2021 earnings of $10.2 million ($0.94 per share), slightly down from $10.8 million ($0.99 per share) in Q2 2021 but up from $7.2 million ($0.66 per share) in Q3 2020. Year-to-date earnings reached $32.2 million ($2.95 per share), a significant increase from $21.3 million ($1.93 per share) in 2020. Key highlights include a 31.9% growth in commercial real estate loans, a 5.1% increase in total loans, and a robust net interest income of $23.1 million, marking a 6.1% rise from the previous quarter. Total assets rose to $3.3 billion.
American National Bankshares (NASDAQ: AMNB) announced the retirement of H. Gregg Strader, Executive Vice President & Chief Banking Officer, effective 2021 year-end. He will be succeeded by Rhonda P. Joyce and Alex Jung, appointed as Executive Vice Presidents & Co-Heads of Banking. Joyce, previously Regional President, will oversee commercial banking, while Jung, joining on November 15, will manage consumer and financial services. The restructuring aims to bolster growth and leverage their combined industry experience.
American National Bankshares reported second quarter 2021 earnings of $10.8 million ($0.99 per diluted share), up from $5.5 million in Q2 2020. While net interest income decreased 2.9% from Q1 2021 to $21.8 million, it increased 7.5% year-over-year. A negative provision for loan losses of $1.4 million indicates strong credit quality. Average deposits rose 3.7% quarter-over-quarter, driven by PPP forgiveness. Noninterest income decreased 13.2% from Q1 due to lower insurance investment income. Total assets grew to $3.2 billion as of June 30, 2021, reflecting solid deposit growth.
American National Bankshares Inc. (AMNB) has declared a quarterly cash dividend of $0.27 per common share, payable on September 17, 2021, to shareholders of record by September 3, 2021. This dividend matches the previous quarter's amount and yields approximately 3.7% based on the stock's closing price of $29.57 on July 20, 2021. American National, headquartered in Danville, Virginia, operates as a community bank serving Virginia and North Carolina with total assets around $3.2 billion.
American National Bankshares Inc. (NASDAQ: AMNB) announced a quarterly cash dividend of $0.27 per common share, payable on June 18, 2021, to shareholders of record as of June 4, 2021. This dividend matches the previous quarter's amount and corresponds to a dividend yield of approximately 3.1%, based on the stock's closing price of $35.37 on May 17, 2021. The company, headquartered in Danville, Virginia, has total assets of approximately $3.1 billion and further manages $1.0 billion in trust, investment, and brokerage assets.
American National Bankshares reported Q1 2021 earnings of $11.3 million, or $1.03 per diluted share, a notable increase from $8.5 million or $0.77 per share a year ago. Noninterest income rose 40.3% sequentially, driven by strong performance in wealth management, mortgage, and insurance sectors. The company showed excellent credit quality with no loan loss provisions required. Average deposits grew 1.8% quarter-over-quarter and 24.8% year-over-year. However, net interest margin decreased to 3.20% from 3.22%. The bank remains well-capitalized with solid asset quality metrics.
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