Atlantic Un Bankshares Corp Stock Price, News & Analysis

Atlantic Union Bankshares (AUB) has appointed Bradley S. Haun as its new Chief Risk Officer for both Atlantic Union and Atlantic Union Bank. Haun, who has been with the company since 2011, will succeed Sherry Williams, who is set to retire on July 1, 2025. Currently serving as Executive Vice President and Chief Audit Executive, Haun's career includes roles as Director of Financial Reporting and Accounting Policy, and Corporate Controller at Atlantic Union. A Virginia Tech graduate, he started his career at Cherry Bekaert in audit practice.

CEO John Asbury acknowledged Williams' contributions in developing the enterprise risk program and expressed confidence in Haun's leadership capabilities, citing his experience in building highly engaged teams throughout his tenure at Atlantic Union.

Atlantic Union Bankshares (AUB) has announced its quarterly dividend declarations. The company will pay a common stock dividend of $0.34 per share, maintaining the same level as Q1 2025 but representing a 6% increase from Q2 2024. Based on the May 5, 2025 closing price of $29.10, this translates to a 4.7% dividend yield.

Additionally, AUB declared a quarterly dividend of $171.88 per share on its Series A preferred stock (equivalent to $0.43 per depositary share). The common stock dividend will be paid on June 6, 2025, to shareholders of record as of May 23, 2025, while the preferred stock dividend is payable on June 2, 2025, to holders of record as of May 16, 2025.

Atlantic Union Bankshares (NYSE: AUB) reported Q1 2025 net income of $46.9 million with basic and diluted EPS of $0.53 and $0.52 respectively. The company completed its merger with Sandy Spring Bancorp on April 1, 2025, acquiring 53 branches and strengthening presence in Virginia and Maryland.

Key financial highlights:

• Net interest income: $184.2 million, up $916,000 from Q4 2024
• Net interest margin increased 12 basis points to 3.38%
• Nonperforming assets: 0.38% of total loans, up 6 basis points
• Allowance for credit losses: $209.0 million, a $15.3 million increase
• Total assets: $24.6 billion, up 0.8% annualized from Q4 2024
• Total deposits: $20.5 billion, increased $105.3 million (2.1% annualized)

Atlantic Union Bankshares has completed its merger with Sandy Spring Bancorp, creating the largest regional banking franchise in the lower Mid-Atlantic. The transaction, valued at approximately $1.3 billion, involves converting each Sandy Spring share into 0.900 shares of Atlantic Union common stock.

The merger strengthens Atlantic Union's presence in Virginia and Maryland, with the combined entity having $38.7 billion in total assets, $32.1 billion in total deposits, and $30.0 billion in total loans held for investment on a pro forma basis as of December 31, 2024. Sandy Spring Bank has been merged into Atlantic Union Bank, and three former Sandy Spring directors have joined Atlantic Union's board.

Atlantic Union Bankshares has announced it will release its first quarter 2025 financial results before market opening on Thursday, April 24, 2025. The company will host a conference call and webcast for investors at 9:00 a.m. Eastern Time on the same day.

The webcast will be available in listen-only mode, accompanied by presentation slides. Analysts wishing to participate in the conference call must register to receive dial-in information and an Access PIN. A replay of the webcast and slides will remain accessible on the company's investor relations website for 90 days.

SolaREIT, a solar and battery storage real estate investment company, has expanded its revolving credit facility to $60 million through increased commitment from Atlantic Union Bank (NYSE: AUB) and syndication to EagleBank (NASDAQ: EGBN). This marks the third upsize in less than two years, with Atlantic Union Bank serving as the sole book runner and administrative agent.

The expanded facility will provide SolaREIT with additional capital to meet growing demand from solar and battery energy storage developers. The company offers innovative financing solutions to help developers and landowners maximize their real estate assets while supporting clean energy deployment. The expansion reflects growing market confidence in SolaREIT's business model and increasing demand for solar and storage land financing solutions.

Atlantic Union Bankshares (NYSE: AUB) and Sandy Spring Bancorp (NASDAQ: SASR) have announced the receipt of all necessary shareholder and bank regulatory approvals for their upcoming merger. The transaction, set to close on April 1, 2025, will combine Virginia's #1 regional depository market share bank with Maryland's #1 regional depository market share bank.

The merger aims to create an enhanced banking franchise offering customers an expanded branch network, enhanced product offerings, and a robust community benefit plan. For employees, the merger promises expanded career opportunities and enhanced resources. Shareholders are expected to benefit from the combined company's positioning for differentiated financial performance.

Atlantic Union Bankshares has announced its quarterly dividend declarations. The company will pay a common stock dividend of $0.34 per share, maintaining the same level as Q4 2024 and representing a 6% increase from Q1 2024. Based on the January 30, 2025 closing price of $37.41, this translates to a 3.6% dividend yield. The payment is scheduled for February 28, 2025, with a record date of February 14, 2025.

Additionally, the company declared a quarterly dividend on its Series A preferred stock of $171.88 per share ($0.43 per depositary share), payable on March 3, 2025, to holders of record as of February 14, 2025.

Atlantic Union Bankshares (NYSE: AUB) reported Q4 2024 net income of $54.8 million with basic and diluted EPS of $0.61 and $0.60, respectively. For the full year 2024, net income was $197.3 million with basic and diluted EPS of $2.29 and $2.24.

Q4 2024 highlights include net interest income of $183.2 million, a slight increase from Q3. The net interest margin decreased 5 basis points to 3.26% due to lower yields on earning assets. The company recorded a provision for credit losses of $17.5 million, up from $2.6 million in Q3, primarily due to a $13.1 million specific reserve on an impaired commercial loan.

Total assets were $24.6 billion at year-end, with loans held for investment increasing by $133.3 million to $18.5 billion. Total deposits grew to $20.4 billion, up $92.3 million from Q3. The company maintained strong capital ratios with a Common equity Tier 1 ratio of 9.96%.