Atlantic Union Bankshares Corporation - AUB STOCK NEWS

Atlantic Union Bankshares Corporation (Nasdaq: AUB) reported a net income of $59.3 million and earnings per share of $0.79 for Q2 2022. Adjusted operating earnings were $51.3 million, with diluted EPS at $0.69. The bank experienced annualized loan growth of upper single digits, net interest income rose to $138.8 million, and the net interest margin increased to 3.15%. Despite low nonperforming assets at 0.23%, total deposits decreased by 8.7% from the previous quarter. The share repurchase program continued, with $51.8 million remaining available for buybacks.

Atlantic Union Bankshares Corporation (AUB) announced it will release its second quarter 2022 financial results on July 21, 2022, before market open. A conference call and webcast for analysts will follow at 9:00 a.m. Eastern Time on the same day. Attendees must register online to receive dial-in details due to updated procedures. The company operates 114 branches and approximately 130 ATMs across Virginia, Maryland, and North Carolina, alongside several non-bank financial affiliates providing equipment financing, brokerage services, and insurance products.

Atlantic Union Bankshares Corporation has appointed Rilla Delorier to its Board of Directors, effective immediately. Delorier brings extensive experience from her roles at Umpqua Bank and SunTrust Bank, where she specialized in strategic planning and digital transformation. Her appointment is expected to enhance the bank's customer-centric culture and innovation. With 114 branches across Virginia and parts of Maryland and North Carolina, Atlantic Union Bank aims to continue its growth as a leading regional bank.

Atlantic Union Bankshares Corporation is set to become a strategic investor in Cary Street Partners by acquiring Dixon, Hubard, Feinour & Brown, Inc. (DHFB), a Virginia-based wealth management firm managing approximately $1.6 billion in assets. This acquisition will enhance Cary Street's presence in Virginia, adding offices in Roanoke, Charlottesville, and Arlington and allowing them to manage $7 billion in total assets across nearly 6,000 clients. The deal is expected to close by the end of June, pending regulatory approvals.

The Board of Directors of Atlantic Union Bankshares Corporation (AUB) has announced a quarterly dividend of $0.28 per share, consistent with previous quarters. This dividend, with a yield of approximately 3.2% based on a stock price of $34.47, will be payable on June 3, 2022, to shareholders on record by May 20, 2022. Additionally, a dividend of $171.88 per share on Series A preferred stock, equating to $0.43 per depositary share, will be paid on June 1, 2022, with a record date of May 17, 2022.

Atlantic Union Bank has appointed Clare Miller as the new Chief Human Resources Officer, effective late May 2022. With over 20 years of experience in human resources, Miller previously held the role of Chief Talent Officer at Huntington National Bank, where she led a team responsible for talent management and organizational effectiveness. Her leadership contributed to Huntington receiving the 2022 Forbes Best Large Employer Award. Miller holds a bachelor’s degree in organizational communications from Ohio University and has various HR certifications.

Atlantic Union Bankshares Corporation (Nasdaq: AUB) reported a net income of $40.7 million for Q1 2022, with earnings per share at $0.54. Adjusted operating earnings reached $45.1 million, while net interest income decreased to $130.9 million, down from $138.3 million in Q4 2021. The company implemented strategic expense reductions and consolidated operations, resulting in lower restructuring costs. Throughout Q1, nonperforming assets remained low at 0.23%. The share repurchase program saw approximately 630,000 shares repurchased for $25 million.

Atlantic Union Bankshares Corporation announced an investor day to be held on May 9, 2022, at 11:00 a.m. ET in New York City. The event will feature presentations by President and CEO John Asbury, CFO Rob Gorman, and COO Maria Tedesco, focusing on the Company's strategic priorities.

Attendees can join in-person at Nasdaq MarketSite or virtually via webcast. Pre-registration is required, and in-person attendees must follow COVID-19 safety protocols.