How did merger-related costs affect Atlantic Union Bankshares’ expenses in Q1 2026?

Noninterest expense fell to $209.8 million in Q1 2026 from $243.2 million in Q4 2025, largely because pre‑tax merger-related costs declined to $9.0 million from $38.6 million . Adjusted operating noninterest expense edged down to $185.3 million from $186.9 million .

Atlantic Union Bankshares (NYSE: AUB) lifts Q1 2026 earnings with strong credit quality

Q: How did Atlantic Union Bankshares (AUB) perform financially in Q1 2026?

Atlantic Union Bankshares generated net income available to common shareholders of $119.2 million in Q1 2026, with diluted EPS of $0.84 . This compares favorably to $108.999 million and $0.77 in the prior quarter and $46.851 million and $0.52 a year earlier.

Q: What happened to Atlantic Union Bankshares’ net interest margin in Q1 2026?

The company’s net interest margin declined to 3.80% in Q1 2026 from 3.90% in Q4 2025. On a fully taxable equivalent basis, margin slipped to 3.85% , mainly due to lower yields on variable‑rate loans and reduced accretion income, partly offset by lower deposit costs.

Q: How strong was Atlantic Union Bankshares’ asset quality as of March 31, 2026?

Asset quality remained sound, with nonperforming assets of $99.7 million , or 0.36% of total loans held for investment. Net charge-offs were just $1.6 million , or 0.02% of average loans annualized, and the allowance for credit losses was $321.9 million .

Q: What were Atlantic Union Bankshares’ key capital ratios at March 31, 2026?

At March 31, 2026, Atlantic Union Bankshares reported a common equity Tier 1 ratio of 10.21% , a Tier 1 capital ratio of 10.75% , and a total capital ratio of 14.01% . Tangible common equity to tangible assets stood at 8.03% , indicating a solid capital position.

Q: What were Atlantic Union Bankshares’ loan and deposit levels at March 31, 2026?

At March 31, 2026, loans held for investment were $27.95 billion , up modestly from $27.80 billion at year-end 2025. Total deposits were $30.39 billion , slightly below $30.47 billion , with brokered deposits declining as the company emphasized lower‑cost funding.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Atlantic Union Bankshares reported strong first quarter 2026 results, with net income available to common shareholders of $119.2 million and diluted EPS of $0.84, up from $0.77 in the prior quarter and $0.52 a year earlier.

Net interest income was $312.4 million, down from $330.2 million in the fourth quarter of 2025 as lower loan yields and reduced accretion offset declining deposit costs. The net interest margin fell to 3.80% while asset quality remained solid, with nonperforming assets at 0.36% of loans and net charge-offs at 0.02%.

Noninterest expense dropped to $209.8 million, helped by sharply lower merger-related costs following completion of the Sandy Spring integration. Loans held for investment reached $27.9 billion and deposits were $30.4 billion. Capital ratios stayed strong, including a common equity Tier 1 ratio of 10.21% and a tangible common equity ratio of 8.03%.

Positive

Strong earnings growth: Net income available to common shareholders rose to $119.2 million with diluted EPS of $0.84, up from $0.52 a year earlier and supporting higher returns on assets and tangible common equity.
Solid asset quality and capital: Nonperforming assets were only 0.36% of loans, net charge-offs were 0.02% annualized, and the common equity Tier 1 capital ratio was a healthy 10.21%.

Negative

None.

Insights

Profits rose with solid credit quality but margin pressure persisted.

Atlantic Union Bankshares delivered net income available to common shareholders of $119.2 million, more than double the prior-year quarter, with diluted EPS of $0.84. Return on average assets improved to 1.33% and return on tangible common equity reached a robust 18.63%.

However, core spread income softened. Net interest income fell to $312.4 million from $330.2 million as the net interest margin declined to 3.80%, reflecting lower yields on variable-rate loans and reduced accretion after prior quarter acceleration and a Sandy Spring measurement adjustment.

Credit metrics remained favorable, with nonperforming assets at 0.36% of loans and net charge‑offs at only 0.02% annualized. The allowance for credit losses stood at $321.9 million, or 1.15% of loans, and key regulatory capital ratios, including CET1 at 10.21%, provided a solid capital buffer.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income to common: $119.2M Diluted EPS: $0.84 Net interest income: $312.4M +5 more

8 metrics

Net income to common $119.2M For the quarter ended March 31, 2026

Diluted EPS $0.84 Q1 2026, vs $0.77 in Q4 2025

Net interest income $312.4M Q1 2026, down from $330.2M in Q4 2025

Net interest margin 3.80% Q1 2026 reported net interest margin

Nonperforming assets ratio 0.36% NPAs as percentage of total loans at March 31, 2026

Allowance for credit losses $321.9M ACL balance at March 31, 2026 (1.15% of loans)

Total deposits $30.39B Deposits outstanding at March 31, 2026

CET1 capital ratio 10.21% Common equity Tier 1 ratio at March 31, 2026

Key Terms

net interest margin, nonperforming assets, allowance for credit losses, tangible common equity, +2 more

6 terms

net interest margin financial

"For the first quarter of 2026, the Company’s net interest margin decreased 10 basis points and net interest margin (FTE)(1) decreased 11 basis points from the prior quarter to 3.80% and 3.85%, respectively"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

nonperforming assets financial

"At March 31, 2026, nonperforming assets (“NPAs”) as a percentage of total LHFI was 0.36%, a decrease of 6 basis points from the prior quarter and included nonaccrual loans of $97.8 million."

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

allowance for credit losses financial

"The allowance for credit losses (“ACL”) totaled $321.9 million at March 31, 2026, a $658 thousand increase from the prior quarter."

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

tangible common equity financial

"Tangible common equity to tangible assets (2) | | 8.03 | % | 7.85 | % | 7.39 | %"

Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.

adjusted operating earnings financial

"adjusted operating earnings available to common shareholders(1) of $126.2 million and adjusted diluted operating earnings per common share(1) of $0.89 for the first quarter of 2026."

Adjusted operating earnings are a company’s profit from its regular business activities after removing one-time, unusual or non-core items (like restructuring charges, asset sales, or litigation costs) so you see the underlying performance. Investors use this figure like a trimmed-down view of earnings—similar to judging a car’s fuel efficiency without counting one-off repair bills—to compare companies and assess whether operating results are sustainable.

Earnings Snapshot

Net income available to common shareholders: $119.2M

Q1 2026

Net income available to common shareholders $119.2M up from $46.9M in Q1 2025

Diluted EPS $0.84 up from $0.52 in Q1 2025

Net interest income $312.4M down from $330.2M in Q4 2025

Net interest margin 3.80% down from 3.90% in Q4 2025

Understanding 8-K Material Events →

04/21/2026 - 06:47 AM

United States

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 21, 2026

ATLANTIC UNION BANKSHARES CORPORATION

(Exact name of registrant as specified in its charter)


Virginia	001-39325	54-1598552
(State or other jurisdiction	(Commission	(I.R.S. Employer
of incorporation)	File Number)	Identification No.)

4300 Cox Road

Glen Allen, Virginia 23060

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (804) 633-5031

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):


	☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


	☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


	☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


	☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $1.33 per share	AUB	New York Stock Exchange
Depositary Shares, Each Representing a 1/400^th Interest in a Share of 6.875% Perpetual Non-Cumulative Preferred Stock, Series A	AUB.PRA	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company	☐


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.	☐

Item 2.02 Results of Operations and Financial Condition.

On April 21, 2026, Atlantic Union Bankshares Corporation (the “Company”) issued a press release announcing its financial results for the first quarter of 2026. A copy of the press release is being furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

The information disclosed in or incorporated by reference into this Item 2.02, including Exhibit 99.1, is furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Item 7.01 Regulation FD Disclosure.

Attached as Exhibit 99.2 and incorporated herein by reference is a presentation that the Company will use in connection with a webcast and conference call for investors and analysts at 9:00 a.m. Eastern Time on Tuesday, April 21, 2026. This presentation is also available under the Presentations link in the Investor Relations – News & Events section of the Company’s website at https://investors.atlanticunionbank.com.

The information disclosed in or incorporated by reference into this Item 7.01, including Exhibit 99.2, is furnished and shall not be deemed filed for purposes of Section 18 of the Exchange Act.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.		Description of Exhibit
99.1		Press release dated April 21, 2026 regarding the first quarter 2026 results.
99.2		Atlantic Union Bankshares Corporation presentation.
104		Cover Page Interactive Data File – the cover page iXBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	ATLANTIC UNION BANKSHARES CORPORATION



Date: April 21, 2026	By:	/s/ Alexander D. Dodd
		Alexander D. Dodd
		Executive Vice President and
		Chief Financial Officer

Exhibit 99.1

Contact: Alexander D. Dodd - (804) 486-2634

Executive Vice President / Chief Financial Officer

ATLANTIC UNION BANKSHARES REPORTS FIRST QUARTER FINANCIAL RESULTS

Richmond, Va., April 21, 2026 – Atlantic Union Bankshares Corporation (the “Company” or “Atlantic Union”) (NYSE: AUB) reported net income available to common shareholders of $119.2 million and both basic and diluted earnings per common share of $0.84, for the first quarter of 2026 and adjusted operating earnings available to common shareholders⁽¹⁾ of $126.2 million and adjusted diluted operating earnings per common share⁽¹⁾ of $0.89 for the first quarter of 2026.

“Atlantic Union had a solid first quarter, reflecting disciplined execution and a successful conclusion of the Sandy Spring Bancorp, Inc. integration,” said John C. Asbury, president and chief executive officer of Atlantic Union. “Asset quality remains strong, our annualized first quarter loan growth rate improved year over year during a seasonally slow period and we continued to reduce higher costing brokered deposits. The underlying operating performance supports our continued confidence in achieving the financial metrics we established for the full year 2026 —namely, the targets for adjusted operating return on assets, return on tangible common equity, and efficiency ratio.

“Atlantic Union is a story of transformation from a Virginia community bank to the largest regional bank headquartered in the lower Mid-Atlantic, with operations in Virginia, Maryland, and a growing presence in North Carolina. Operating under the mantra of soundness, profitability, and growth – in that order of priority – Atlantic Union remains committed to generating sustainable, profitable growth and building long-term value for our shareholders.”

NET INTEREST INCOME

For the first quarter of 2026, net interest income was $312.4 million, a decrease of $17.8 million from $330.2 million in the fourth quarter of 2025. Net interest income - fully taxable equivalent (“FTE”)⁽¹⁾was $316.9 million in the first quarter of 2026, a decrease of $17.9 million from $334.8 million in the fourth quarter of 2025. The decreases from the prior quarter in both net interest income and net interest income (FTE)⁽¹⁾ were driven primarily by a decrease in interest income on loans held for investment (“LHFI”), reflecting lower loan accretion income, the lower day count in the first quarter, as well as the impact of lower yields on variable-rate loans following the cumulative 75 basis point reduction in the federal funds rate between September and December in 2025. The decreases were partially offset by a decrease in interest expense, primarily due to lower deposit costs, resulting from reduced brokered deposit balances and lower customer deposit rates due to reductions in the federal funds rate.

For the first quarter of 2026, the Company’s net interest margin decreased 10 basis points and net interest margin (FTE)⁽¹⁾ decreased 11 basis points from the prior quarter to 3.80% and 3.85%, respectively, due to a decline in earning asset yields, partially offset by lower cost of funds. Earning asset yields for the first quarter of 2026 decreased 20 basis points to 5.79% compared to the fourth quarter of 2025, reflecting the lower loan yields driven by the Federal Reserve rate cuts and the impact of lower accretion income. Cost of funds decreased 9 basis points from the prior quarter to 1.94% for the first quarter of 2026, reflecting the impact of lower deposit costs.

The Company’s net interest margin (FTE)⁽¹⁾ includes the impact of acquisition accounting fair value adjustments. Net accretion income for the quarter ended March 31, 2026 was $13.0 million lower than the prior quarter, as the prior quarter included elevated accelerated loan accretion income primarily due to higher prepayment activity and this quarter included a measurement period adjustment related to the acquisition of Sandy Spring Bancorp, Inc. (the “Sandy Spring acquisition”), which reduced loan accretion income by $3.5 million. The impact of accretion and amortization for the periods presented are reflected in the following table (dollars in thousands):




	Loan			Deposit			Borrowings
	Accretion			Accretion			Amortization			Total
For the quarter ended December 31, 2025	$	48,363		$	762		$	(3,178)		$	45,947
For the quarter ended March 31, 2026		35,602			366			(3,044)			32,924

ASSET QUALITY

Overview

At March 31, 2026, nonperforming assets (“NPAs”) as a percentage of total LHFI was 0.36%, a decrease of 6 basis points from the prior quarter and included nonaccrual loans of $97.8 million. Accruing past due loans as a percentage of total LHFI totaled 0.45% at March 31, 2026, an increase of 4 basis points from December 31, 2025. Net charge-offs were 0.02% of total average LHFI (annualized) for the first quarter of 2026, an increase of 1 basis point compared to December 31, 2025. The allowance for credit losses (“ACL”) totaled $321.9 million at March 31, 2026, a $658 thousand increase from the prior quarter.

Nonperforming Assets

The following table shows a summary of NPA balances at the quarters ended (dollars in thousands):


		March 31,		December 31,			September 30,			June 30,			March 31,
		2026		2025			2025			2025			2025
Nonaccrual loans		$	97,828	$	115,051		$	131,240		$	162,615		$	69,015
Foreclosed properties			1,856		1,826			2,001			774			404
Total nonperforming assets		$	99,684	$	116,877		$	133,241		$	163,389		$	69,419

The following table shows the activity in nonaccrual loans for the quarters ended (dollars in thousands):


		March 31,			December 31,			September 30,			June 30,			March 31,
		2026			2025			2025			2025			2025
Beginning Balance		$	115,051		$	131,240		$	162,615		$	69,015		$	57,969
Net customer payments and other activity⁽¹⁾			(33,934)			(21,667)			(17,947)			(4,595)			(898)
Additions ^{(1) (2)}			17,679			7,816			25,333			98,975			13,197
Charge-offs			(909)			(2,307)			(37,410)			(780)			(1,253)
Loans returning to accruing status			—			(31)			(77)			—			—
Transfers to foreclosed property			(59)			—			(1,274)			—			—
Ending Balance		$	97,828		$	115,051		$	131,240		$	162,615		$	69,015

⁽¹⁾ The Company recorded measurement period adjustments related to the fair values of certain loans associated with the Sandy Spring acquisition, which impacted the nonaccrual activity for the quarters ended September 30, 2025, December 31, 2025, and March 31, 2026.

⁽²⁾ The increase in additions during the quarter ended June 30, 2025 was primarily due to purchased credit deteriorated loans acquired from Sandy Spring.

Past Due Loans

At March 31, 2026, past due loans still accruing interest totaled $125.0 million or 0.45% of total LHFI, compared to $113.0 million or 0.41% of total LHFI at December 31, 2025, and $50.0 million or 0.27% of total LHFI at March 31, 2025. The increase in past due loans from the prior quarter was primarily within the multifamily real estate and commercial real estate (“CRE”) – owner occupied loan portfolios. The increase from the prior year was primarily due to loans acquired by the Company as a result of the Sandy Spring acquisition.

Allowance for Credit Losses

Effective January 1, 2026, the Company made certain changes to its ACL methodology as part of the continued enhancement of its credit modeling practices, resulting in more dynamic and precise modeling that allows for more granularity in the monitoring of our credit losses. The ACL methodology changes were accounted for prospectively as a change in accounting estimate and did not have a material impact on the Company’s Consolidated Financial Statements.

At March 31, 2026, the ACL was $321.9 million, an increase of $659 thousand from the prior quarter, comprised of an allowance for loan and lease losses (“ALLL”) of $291.1 million and a reserve for unfunded commitments (“RUC”) of $30.8 million. At March 31, 2026, the ACL as a percentage of total LHFI remained relatively consistent at 1.15%, compared to 1.16% at December 31, 2025. The ALLL as a percentage of total LHFI decreased by 2 basis points, from 1.06% at December 31, 2025 to 1.04% at March 31, 2026. The RUC coverage ratio increased 1 basis point from December 31, 2025 to 0.11% at March 31, 2026, primarily driven by higher construction and land development unfunded commitments.

Net Charge-offs

Net charge-offs were $1.6 million or 0.02% of total average LHFI on an annualized basis for the first quarter of 2026, compared to $916 thousand or 0.01% (annualized) for the fourth quarter of 2025, and $2.3 million or 0.05% (annualized) for the first quarter of 2025.

Provision for Credit Losses

For the first quarter of 2026, the Company recorded a provision for credit losses of $2.7 million, compared to $2.2 million in the prior quarter, and $17.6 million in the first quarter of 2025. The provision for credit losses decreased as compared to the prior year primarily due to higher uncertainty in the economic outlook in the prior year, as well as specific reserves recorded in the prior year on two impaired commercial and industrial loans.

NONINTEREST INCOME

Noninterest income decreased $2.2 million to $54.8 million for the first quarter of 2026 from $57.0 million in the prior quarter, primarily driven by a $4.4 million decrease in loan-related interest rate swap fees due to seasonally lower transaction volumes. This decrease was partially offset by a $1.5 million increase in other operating income, primarily due to an increase in capital markets income.

NONINTEREST EXPENSE

Noninterest expense decreased $33.4 million to $209.8 million for the first quarter of 2026 from $243.2 million in the prior quarter, primarily driven by a $29.6 million decrease in pre-tax merger-related costs and a $2.3 million decrease in amortization of intangible assets.

Adjusted operating noninterest expense⁽¹⁾, which excludes merger-related costs ($9.0 million in the first quarter 2026 and $38.6 million in the fourth quarter 2025) and amortization of intangible assets ($15.4 million in the first quarter 2026 and $17.7 million in the fourth quarter 2025) decreased $1.6 million to $185.3 million, compared to $186.9 million in the prior quarter. This decrease was primarily due to a $3.1 million decrease in other expenses, primarily due to a decrease in non-credit-related losses on customer transactions, a $2.3 million decrease in professional services related to strategic projects that occurred in the prior quarter, and a $1.9 million decrease in technology and data processing expense. These decreases were partially offset by a $5.0 million increase in salaries and benefits expense, primarily due to seasonal increases in payroll taxes and 401(k) contribution expenses.

INCOME TAXES

The Company’s effective tax rate for each of the quarters ended March 31, 2026 and December 31, 2025 was 21.0%.

KEY BALANCE SHEET COMPONENTS AND CAPITAL RATIOS

The following tables summarize the Company’s key balance sheet components and capital ratios as of the dates presented (dollars in millions, except per share data):


	3/31/2026		12/31/2025⁽³⁾		QoQ		QoQ % change⁽¹⁾		3/31/2025		YoY		YoY % change
	(unaudited)								(unaudited)
Assets	$	37,315	$	37,586	$	(271)	(2.92)	%	$	24,633	$	12,682	51.49	%
LHFI (net of unearned income)		27,946		27,796		150	2.19	%		18,428		9,519	51.65	%
Quarterly Average LHFI (net of unearned income)		27,830		27,433		397	5.87	%		18,429		9,401	51.01	%
Securities		5,059		5,269		(210)	(16.13)	%		3,405		1,654	48.57	%
Securities available for sale ("AFS")		4,011		4,194		(183)	(17.68)	%		2,484		1,528	61.50	%
Securities held to maturity ("HTM")		870		884		(14)	(6.39)	%		821		49	6.00	%
Goodwill		1,755		1,733		22	5.05	%		1,214		541	44.55	%
Deposits		30,391		30,472		(80)	(1.07)	%		20,503		9,888	48.23	%
Quarterly Average Deposits		30,210		30,884		(674)	(8.85)	%		20,466		9,744	47.61	%
Borrowings		1,305		1,497		(193)	(52.20)	%		476		829	NM
Cash dividends paid per common share	$	0.37	$	0.37	$	—	—	%	$	0.34	$	0.03	8.82	%
Dividends on each share of Series A preferred stock ⁽²⁾	$	171.88	$	171.88	$	—	—	%	$	171.88	$	—	—	%

⁽¹⁾Quarter over quarter percentage changes are calculated on an annualized basis except for dividends, which are presented on a per share basis.

⁽²⁾The preferred stock dividend was equivalent to $0.43 per outstanding depositary share for each period presented.

⁽³⁾Period-end balances as of December 31, 2025 were audited. Quarterly average balances are unaudited.

NM = Not Meaningful



		3/31/2026		12/31/2025		3/31/2025
Common equity Tier 1 capital ratio ⁽¹⁾		10.21	%	10.10	%	10.07	%
Tier 1 capital ratio ⁽¹⁾		10.75	%	10.64	%	10.87	%
Total capital ratio ⁽¹⁾		14.01	%	13.90	%	13.88	%
Leverage ratio (Tier 1 capital to average assets) ⁽¹⁾		9.31	%	9.10	%	9.45	%
Common equity to total assets		13.09	%	12.88	%	12.26	%
Tangible common equity to tangible assets ⁽²⁾		8.03	%	7.85	%	7.39	%

⁽¹⁾ All ratios at March 31, 2026 are estimates and subject to change pending the Company’s filing of its FR Y9-C. All other periods are presented as filed.

⁽²⁾ These are financial measures not calculated in accordance with generally accepted accounting principles (“GAAP”). For a reconciliation of these non-GAAP financial measures see the “Alternative Performance Measures (non-GAAP)” section of the Key Financial Results.

The key drivers of the consolidated balance sheet changes for the periods presented are summarized below:

●

Total assets decreased from December 31, 2025, primarily due to decreases in investments and cash and cash equivalents, partially offset by increases in LHFI. Total assets increased from March 31, 2025 primarily driven by the Sandy Spring acquisition.

●

Goodwill increased from the prior year due to the Sandy Spring acquisition and reflects the fair value of assets acquired and liabilities assumed, inclusive of measurement period adjustments primarily related to loans, other assets, and other liabilities. The measurement period concluded and goodwill was finalized as of March 31, 2026.

●

LHFI and quarterly average LHFI both increased compared to December 31, 2025 and March 31, 2025. The increase from the prior quarter is primarily due to an increase in the commercial and industrial portfolio. The increase from the same period in the prior year was primarily due to the Sandy Spring acquisition, as well as organic loan growth.

●

Total investments decreased from December 31, 2025, primarily due to principal repayments and maturities of AFS securities. Total investments increased year over year due to the Sandy Spring acquisition.

●

Total deposits and quarterly average deposits decreased from the prior quarter due to a decline in brokered deposits, partially offset by an increase in interest-bearing customer deposits. Total deposits and quarterly average deposits at March 31, 2026 increased from the same period in the prior year due to the addition of the Sandy Spring acquired deposits.

●

Total borrowings decreased from December 31, 2025 and increased from March 31, 2025. The decrease in borrowings from the prior quarter was primarily due to higher short-term borrowings in the prior quarter that were repaid in the current quarter using proceeds from customer deposits, while the increase from the same period in the prior year was primarily due to increases in Federal Home Loan Bank advances and additional borrowings in connection with the Sandy Spring acquisition.

ABOUT ATLANTIC UNION BANKSHARES CORPORATION

Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located in Virginia, Maryland, North Carolina and Washington, D.C. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; AUB Investments, Inc., which provides investment services; and Atlantic Union Capital Markets, Inc., which provides capital market services.

FIRST QUARTER 2026 EARNINGS RELEASE CONFERENCE CALL

The Company will hold a conference call and webcast for investors at 9:00 a.m. Eastern Time on Tuesday, April 21, 2026, during which management will review our financial results for the first quarter 2026 and provide an update on our recent activities.

The listen-only webcast and the accompanying slides can be accessed at:

https://edge.media-server.com/mmc/p/ow964rjw.

For analysts who wish to participate in the conference call, please register at the following URL:

https://register-conf.media-server.com/register/BIf8f441eb451449cfa3e411b650b2ab58.

To participate in the conference call, you must use the link to receive an audio dial-in number and an Access PIN.

A replay of the webcast, and the accompanying slides, will be available on the Company’s website for 90 days at: https://investors.atlanticunionbank.com/.

NON-GAAP FINANCIAL MEASURES

In reporting the results as of and for the period ended March 31, 2026, we have provided supplemental performance measures determined by methods other than in accordance with GAAP. These non-GAAP financial measures are a supplement to GAAP, which we use to prepare our financial statements, and should not be considered in isolation or as a substitute for comparable measures calculated in accordance with GAAP. In addition, our non-GAAP financial measures may not be comparable to non-GAAP financial measures of other companies. We use the non-GAAP financial measures discussed herein in our analysis of our performance. Management believes that these non-GAAP financial measures provide additional understanding of our ongoing operations, enhance the comparability of our results of operations with prior periods and show the effects of significant gains and charges in the periods presented without the impact of items or events that may obscure trends in our underlying performance. For a reconciliation of these measures to their most directly comparable GAAP measures and additional information about these non-GAAP financial measures, see “Alternative Performance Measures (non-GAAP)” in the tables within the section “Key Financial Results.”

FORWARD-LOOKING STATEMENTS

This press release and statements by our management may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include, without limitation, statements made in Mr. Asbury’s quotations, statements regarding the acquisition of Sandy Spring, including expectations with regard to the benefits of the Sandy Spring acquisition; statements regarding our strategic expansion into North Carolina; statements regarding our future ability to recognize the benefits of certain tax assets; statements regarding our business, financial and operating results, including our deposit base and funding; the impact of changes in economic conditions, anticipated changes in the interest rate environment and the related impacts on our net interest margin, changes in economic, fiscal or trade policy and the potential impacts on our business, loan demand and economic conditions in our markets and nationally; management’s beliefs regarding our liquidity, capital resources, asset quality, CRE loan portfolio and our customer relationships; and statements that include other projections, predictions, expectations, or beliefs about future events or results or otherwise are not statements of historical fact. Such forward-looking statements are based on certain assumptions as of the time they are made, and are inherently subject to known and unknown risks, uncertainties, and other factors, some of which cannot be predicted or quantified, that may cause actual results, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are often characterized by the use of qualified words (and their derivatives) such as “expect,” “believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,” “will,” “may,” “view,” “opportunity,” “seek to,” “potential,” “continue,” “confidence,” or words of similar meaning or other statements concerning opinions or judgment of the Company and our management about future events. Although we believe that our expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of our existing knowledge of our business and operations, there can be no assurance that actual future results, performance, or achievements of, or trends affecting, us will not differ materially from any projected future results, performance, achievements or trends expressed or implied by such forward-looking statements. Actual future results, performance, achievements or trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to, the effects of or changes in:

●

market interest rates and their related impacts on macroeconomic conditions, customer and client behavior, our funding costs and our loan and securities portfolios;

●

economic conditions, including inflation and recessionary conditions and their related impacts on economic growth and customer and client behavior;

●

U.S. and global trade policies and tensions, including changes in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability;

●

volatility in the financial services sector, including failures or rumors of failures of other depository institutions, along with actions taken by governmental agencies to address such turmoil, and the effects on the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital;

●

legislative or regulatory changes and requirements, including changes in federal, state or local tax laws and changes impacting the rulemaking, supervision, examination and enforcement priorities of the federal banking agencies;

●

the sufficiency of liquidity and changes in our capital position;

●

general economic and financial market conditions, in the United States generally and particularly in the markets in which we operate and which our loans are concentrated, including the effects of declines in real estate values, an increase in unemployment levels, U.S. fiscal debt, budget, and tax matters, U.S. government shutdowns, and slowdowns in economic growth;

●

the impact of purchase accounting with respect to the Sandy Spring acquisition, or any change in the assumptions used regarding the assets acquired and liabilities assumed to determine the fair value and credit marks;

●

the possibility that the anticipated benefits of our acquisition activity, including our acquisition of Sandy Spring, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of the strength of the economy, competitive factors in the areas where we do business, or as a result of other unexpected factors or events;

●

potential adverse reactions or changes to business or employee relationships, including those resulting from our acquisition of Sandy Spring;

●

our ability to identify, recruit and retain key employees;

●

monetary, fiscal and regulatory policies of the U.S. government, including policies of the U.S. Department of the Treasury and the Federal Reserve;

●

the quality or composition of our loan or investment portfolios and changes in these portfolios;

●

demand for loan products and financial services in our market areas;

●

our ability to manage our growth or implement our growth strategy;

●

the effectiveness of expense reduction plans;

●

the introduction of new lines of business or new products and services;

●

real estate values in our lending area;

●

changes in accounting principles, standards, rules, and interpretations, and the related impact on our financial statements;

●

an insufficient ACL or volatility in the ACL resulting from the Current Expected Credit Losses (“CECL”) methodology, either alone or as that may be affected by changing economic conditions, credit concentrations, inflation, changing interest rates, or other factors;

●

concentrations of loans secured by real estate, particularly CRE;

●

the effectiveness of our credit processes and management of our credit risk;

●

our ability to compete in the market for financial services and increased competition from fintech companies;

●

technological risks and developments, and cyber threats, attacks, or events;

●

emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action or increase the risk of a cybersecurity attack or the probability that such an attack would be successful;

●

operational, technological, cultural, regulatory, legal, credit, and other risks associated with the exploration, consummation and integration of potential future acquisitions, whether involving stock or cash consideration;

●

the potential adverse effects of unusual and infrequently occurring events, such as weather-related disasters, terrorist acts, geopolitical conflicts or public health events (such as pandemics), and of governmental and societal responses thereto; these potential adverse effects may include, without limitation, adverse effects on macroeconomic conditions, the ability of our borrowers to satisfy their obligations to us, on the value of collateral securing loans, on the demand for our loans or our other products and services, on supply chains and methods used to distribute products and services, on incidents of cyberattack and fraud, on our liquidity or capital positions, on risks posed by reliance on third-party service providers, on other aspects of our business operations and on financial markets and economic growth;

●

performance by our counterparties or vendors;

●

deposit flows;

●

the availability of financing and the terms thereof;

●

the level of prepayments on loans and mortgage-backed securities;

●

actual or potential claims, damages, and fines related to litigation or government actions, which may result in, among other things, additional costs, fines, penalties, restrictions on our business activities, reputational harm, or other adverse consequences;

●

any event or development that would cause us to conclude that there was an impairment of any asset, including intangible assets, such as goodwill; and

●

other factors, many of which are beyond our control.

Please also refer to such other factors as discussed throughout Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our Annual Report on Form 10-K for the year ended December 31, 2025, and related disclosures in other filings, which have been filed with the U.S. Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. All risk factors and uncertainties described herein and therein should be considered in evaluating forward-looking statements, and all the forward-looking statements are expressly qualified by the cautionary statements contained or referred to herein and therein. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on the Company or our businesses or operations. Readers are cautioned not to rely too heavily on forward-looking statements. Forward-looking statements speak only as of the date they are made. We do not intend or assume any obligation to update, revise or clarify any forward-looking statements that may be made from time to time by or on behalf of the Company, whether as a result of new information, future events or otherwise, except as required by law.

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)


	As of & For Three Months Ended
	3/31/26			12/31/25			3/31/25
Results of Operations
Interest and dividend income	$	471,735		$	501,842		$	305,836
Interest expense		159,362			171,674			121,672
Net interest income		312,373			330,168			184,164
Provision for credit losses		2,737			2,211			17,638
Net interest income after provision for credit losses		309,636			327,957			166,526
Noninterest income		54,783			57,000			29,163
Noninterest expenses		209,810			243,243			134,184
Income before income taxes		154,609			141,714			61,505
Income tax expense		32,444			29,748			11,687
Net income		122,165			111,966			49,818
Dividends on preferred stock		2,967			2,967			2,967
Net income available to common shareholders	$	119,198		$	108,999		$	46,851

Interest earned on earning assets (FTE) ⁽¹⁾	$	476,285		$	506,463		$	309,593
Net interest income (FTE) ⁽¹⁾		316,923			334,789			187,921
Total revenue (FTE) ⁽¹⁾		371,706			391,789			217,084
Pre-tax pre-provision earnings (FTE) ⁽¹⁾		161,896			148,546			82,900

Key Ratios
Earnings per common share, diluted	$	0.84		$	0.77		$	0.52
Return on average assets (ROA)		1.33	%		1.19	%		0.82	%
Return on average equity (ROE)		9.78	%		8.97	%		6.35	%
Return on average tangible common equity (ROTCE) ^{(2) (3)}		18.63	%		17.85	%		12.04	%
Efficiency ratio		57.14	%		62.83	%		62.90	%
Efficiency ratio (FTE) ⁽¹⁾		56.45	%		62.09	%		61.81	%
Net interest margin		3.80	%		3.90	%		3.38	%
Net interest margin (FTE) ⁽¹⁾		3.85	%		3.96	%		3.45	%
Yields on earning assets (FTE) ⁽¹⁾		5.79	%		5.99	%		5.68	%
Average cost of interest-bearing liabilities		2.60	%		2.74	%		2.97	%
Average cost of deposits		1.90	%		2.03	%		2.29	%
Average cost of funds		1.94	%		2.03	%		2.23	%

Operating Measures⁽⁴⁾
Adjusted operating earnings	$	129,119		$	141,366		$	54,542
Adjusted operating earnings available to common shareholders		126,152			138,399			51,575
Adjusted operating pre-tax pre-provision earnings (FTE) ⁽¹⁾ ⁽⁷⁾		170,928			186,713			87,942
Adjusted operating earnings per common share, diluted	$	0.89		$	0.97		$	0.57
Adjusted operating ROA		1.41	%		1.50	%		0.90	%
Adjusted operating ROE		10.33	%		11.33	%		6.95	%
Adjusted operating ROTCE ^{(2) (3)}		19.62	%		22.12	%		13.15	%
Adjusted operating efficiency ratio (FTE) ⁽¹⁾⁽⁶⁾		49.86	%		47.77	%		57.02	%

Per Share Data
Earnings per common share, basic	$	0.84		$	0.77		$	0.53
Earnings per common share, diluted		0.84			0.77			0.52
Cash dividends paid per common share		0.37			0.37			0.34
Market value per share		35.74			35.30			31.14
Book value per common share		34.39			34.14			33.79
Tangible book value per common share ⁽²⁾		19.93			19.69			19.32
Price to earnings ratio, diluted		10.52			11.60			14.76
Price to book value per common share ratio		1.04			1.03			0.92
Price to tangible book value per common share ratio ⁽²⁾		1.79			1.79			1.61
Unvested shares of restricted stock awards		1,100,123			857,866			806,420
Weighted average common shares outstanding, basic		141,901,606			141,758,460			89,222,296
Weighted average common shares outstanding, diluted		142,280,978			142,118,797			90,072,795
Common shares outstanding at end of period		142,060,496			141,776,886			89,340,541

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)


	As of & For Three Months Ended
	3/31/26			12/31/25			3/31/25
Capital Ratios
Common equity Tier 1 capital ratio ⁽⁵⁾		10.21	%		10.10	%		10.07	%
Tier 1 capital ratio ⁽⁵⁾		10.75	%		10.64	%		10.87	%
Total capital ratio ⁽⁵⁾		14.01	%		13.90	%		13.88	%
Leverage ratio (Tier 1 capital to average assets) ⁽⁵⁾		9.31	%		9.10	%		9.45	%
Common equity to total assets		13.09	%		12.88	%		12.26	%
Tangible common equity to tangible assets ⁽²⁾		8.03	%		7.85	%		7.39	%

Financial Condition
Assets	$	37,315,011		$	37,585,754		$	24,632,611
LHFI (net of unearned income)		27,946,424			27,796,167			18,427,689
Securities		5,059,211			5,268,717			3,405,206
Earning Assets		33,358,287			33,818,712			22,085,559
Goodwill		1,754,875			1,733,287			1,214,053
Amortizable intangibles, net		300,099			315,544			79,165
Deposits		30,391,256			30,471,636			20,502,874
Borrowings		1,304,587			1,497,292			475,685
Stockholders' equity		5,052,316			5,006,398			3,185,216
Tangible common equity ⁽²⁾		2,830,985			2,791,210			1,725,641

Loans held for investment, net of unearned income
Construction and land development	$	1,748,413		$	1,666,381		$	1,305,969
Commercial real estate - owner occupied		4,319,847			4,305,796			2,363,509
Commercial real estate - non-owner occupied		7,212,035			7,178,515			5,072,694
Multifamily real estate		2,321,504			2,418,250			1,531,547
Commercial & Industrial		5,384,856			5,229,728			3,819,415
Residential 1-4 Family - Commercial		1,053,303			1,100,157			738,388
Residential 1-4 Family - Consumer		2,839,216			2,825,259			1,286,526
Residential 1-4 Family - Revolving		1,257,079			1,248,284			778,527
Auto		156,843			183,720			279,517
Consumer		109,755			121,488			101,334
Other Commercial		1,543,573			1,518,589			1,150,263
Total LHFI	$	27,946,424		$	27,796,167		$	18,427,689

Deposits
Interest checking accounts	$	7,515,409		$	7,193,204		$	5,336,264
Money market accounts		6,985,315			6,863,981			4,602,260
Savings accounts		2,691,144			2,747,622			1,033,315
Customer time deposits of more than $250,000		1,767,455			1,737,345			1,141,311
Customer time deposits of $250,000 or less		3,977,869			3,956,571			2,810,070
Time deposits		5,745,324			5,693,916			3,951,381
Total interest-bearing customer deposits		22,937,192			22,498,723			14,923,220
Brokered deposits		610,338			1,128,284			1,108,481
Total interest-bearing deposits	$	23,547,530		$	23,627,007		$	16,031,701
Demand deposits		6,843,726			6,844,629			4,471,173
Total deposits	$	30,391,256		$	30,471,636		$	20,502,874

Averages
Assets	$	37,254,857		$	37,356,117		$	24,678,974
LHFI (net of unearned income)		27,830,037			27,433,274			18,428,710
Loans held for sale		16,207			24,387			8,172
Securities		5,207,502			5,269,097			3,387,627
Earning assets		33,377,790			33,555,065			22,108,618
Deposits		30,210,336			30,884,349			20,466,081
Time deposits		6,039,778			6,229,539			4,715,648
Interest-bearing deposits		23,454,604			23,919,801			16,062,478
Borrowings		1,373,627			914,352			525,889
Interest-bearing liabilities		24,828,231			24,834,153			16,588,367
Stockholders' equity		5,068,069			4,950,858			3,183,846
Tangible common equity ⁽²⁾		2,860,550			2,733,470			1,721,647

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)


	As of & For Three Months Ended
	3/31/26			12/31/25			3/31/25
Asset Quality
Allowance for Credit Losses (ACL)
Beginning balance, Allowance for loan and lease losses (ALLL)	$	295,108		$	293,035		$	178,644
Add: Recoveries		1,307			3,043			607
Less: Charge-offs		2,901			3,959			2,885
Add: (Release) provision for loan losses		(2,414)			2,989			17,430
Ending balance, ALLL	$	291,100		$	295,108		$	193,796

Beginning balance, Reserve for unfunded commitment (RUC)	$	26,161		$	26,951		$	15,041
Add: Provision (release) for unfunded commitments		4,667			(790)			208
Ending balance, RUC	$	30,828		$	26,161		$	15,249
Total ACL	$	321,928		$	321,269		$	209,045

ACL / total LHFI		1.15	%		1.16	%		1.13	%
ALLL / total LHFI		1.04	%		1.06	%		1.05	%
Net charge-offs / total average LHFI (annualized)		0.02	%		0.01	%		0.05	%
Provision for loan losses/ total average LHFI (annualized)		(0.04)	%		0.04	%		0.38	%

Nonperforming Assets
Construction and land development	$	2,485		$	4,303		$	2,794
Commercial real estate - owner occupied		6,416			6,034			2,932
Commercial real estate - non-owner occupied		12,221			11,301			1,159
Multifamily real estate		20,564			45,369			124
Commercial & Industrial		18,959			10,288			43,106
Residential 1-4 Family - Commercial		6,416			6,657			1,610
Residential 1-4 Family - Consumer		24,426			23,297			12,942
Residential 1-4 Family - Revolving		5,364			5,643			3,593
Auto		515			572			641
Consumer		12			12			16
Other Commercial		450			1,575			98
Nonaccrual loans	$	97,828		$	115,051		$	69,015
Foreclosed property		1,856			1,826			404
Total nonperforming assets (NPAs)	$	99,684		$	116,877		$	69,419
Construction and land development	$	186		$	1,481		$	—
Commercial real estate - owner occupied		4,362			4,788			714
Commercial real estate - non-owner occupied		1,793			2,099			—
Multifamily real estate		4,195			6,140			—
Commercial & Industrial		3,675			9,114			1,075
Residential 1-4 Family - Commercial		1,161			2,379			1,091
Residential 1-4 Family - Consumer		4,449			5,633			1,193
Residential 1-4 Family - Revolving		4,340			3,458			2,397
Auto		239			404			196
Consumer		70			55			94
Other Commercial		—			—			22
LHFI ≥ 90 days and still accruing	$	24,470		$	35,551		$	6,782
Total NPAs and LHFI ≥ 90 days	$	124,154		$	152,428		$	76,201
NPAs / total LHFI		0.36	%		0.42	%		0.38	%
NPAs / total assets		0.27	%		0.31	%		0.28	%
ALLL / nonaccrual loans		297.56	%		256.50	%		280.80	%
ALLL/ nonperforming assets		292.02	%		252.49	%		279.17	%

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)


	As of & For Three Months Ended
	3/31/26			12/31/25			3/31/25
Past Due Detail
Construction and land development	$	2,866		$	1,455		$	458
Commercial real estate - owner occupied		8,223			7,241			1,455
Commercial real estate - non-owner occupied		5,445			9,482			3,760
Multifamily real estate		6,944			52			1,353
Commercial & Industrial		10,396			8,935			4,192
Residential 1-4 Family - Commercial		4,076			2,634			1,029
Residential 1-4 Family - Consumer		22,015			17,911			11,005
Residential 1-4 Family - Revolving		4,094			3,994			2,533
Auto		2,212			3,332			3,662
Consumer		268			444			479
Other Commercial		2,714			3,242			6,875
LHFI 30-59 days past due	$	69,253		$	58,722		$	36,801
Construction and land development	$	3,299		$	94		$	35
Commercial real estate - owner occupied		8,767			3,171			971
Commercial real estate - non-owner occupied		4,084			1,455			—
Multifamily real estate		—			247			981
Commercial & Industrial		10,432			3,552			838
Residential 1-4 Family - Commercial		323			1,306			19
Residential 1-4 Family - Consumer		1,841			5,628			348
Residential 1-4 Family - Revolving		1,218			2,157			1,137
Auto		411			797			539
Consumer		333			171			384
Other Commercial		525			143			1,123
LHFI 60-89 days past due	$	31,233		$	18,721		$	6,375

Past Due and still accruing	$	124,956		$	112,994		$	49,958
Past Due and still accruing / total LHFI		0.45	%		0.41	%		0.27	%

Alternative Performance Measures (non-GAAP)
Net interest income (FTE) ⁽¹⁾
Net interest income (GAAP)	$	312,373		$	330,168		$	184,164
FTE adjustment		4,550			4,621			3,757
Net interest income (FTE) (non-GAAP)	$	316,923		$	334,789		$	187,921
Noninterest income (GAAP)		54,783			57,000			29,163
Total revenue (FTE) (non-GAAP)	$	371,706		$	391,789		$	217,084
Less: Noninterest expense (GAAP)		209,810			243,243			134,184
Pre-tax pre-provision earnings (FTE) (non-GAAP)	$	161,896		$	148,546		$	82,900

Average earning assets	$	33,377,790		$	33,555,065		$	22,108,618
Net interest margin		3.80	%		3.90	%		3.38	%
Net interest margin (FTE)		3.85	%		3.96	%		3.45	%

Tangible Assets ⁽²⁾
Ending assets (GAAP)	$	37,315,011		$	37,585,754		$	24,632,611
Less: Ending goodwill		1,754,875			1,733,287			1,214,053
Less: Ending amortizable intangibles		300,099			315,544			79,165
Ending tangible assets (non-GAAP)	$	35,260,037		$	35,536,923		$	23,339,393

Tangible Common Equity ⁽²⁾
Ending equity (GAAP)	$	5,052,316		$	5,006,398		$	3,185,216
Less: Ending goodwill		1,754,875			1,733,287			1,214,053
Less: Ending amortizable intangibles		300,099			315,544			79,165
Less: Perpetual preferred stock		166,357			166,357			166,357
Ending tangible common equity (non-GAAP)	$	2,830,985		$	2,791,210		$	1,725,641

Average equity (GAAP)	$	5,068,069		$	4,950,858		$	3,183,846
Less: Average goodwill		1,733,527			1,726,933			1,214,053
Less: Average amortizable intangibles		307,636			324,099			81,790
Less: Average perpetual preferred stock		166,356			166,356			166,356
Average tangible common equity (non-GAAP)	$	2,860,550		$	2,733,470		$	1,721,647

ROTCE ⁽²⁾⁽³⁾
Net income available to common shareholders (GAAP)	$	119,198		$	108,999		$	46,851
Plus: Amortization of intangibles, tax effected		12,202			13,977			4,264
Net income available to common shareholders before amortization of intangibles (non-GAAP)	$	131,400		$	122,976		$	51,115

Return on average tangible common equity (ROTCE)		18.63	%		17.85	%		12.04	%

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)


	As of & For Three Months Ended
	3/31/26			12/31/25			3/31/25
Operating Measures⁽⁴⁾
Net income (GAAP)	$	122,165		$	111,966		$	49,818
Plus: Merger-related costs, net of tax		6,956			29,742			4,643
Less: Gain (loss) on sale of securities, net of tax		2			2			(81)
Less: Gain on sale of equity interest in CSP, net of tax		—			340			—
Adjusted operating earnings (non-GAAP)		129,119			141,366			54,542
Less: Dividends on preferred stock		2,967			2,967			2,967
Adjusted operating earnings available to common shareholders (non-GAAP)	$	126,152		$	138,399		$	51,575

Operating Efficiency Ratio⁽¹⁾⁽⁶⁾
Noninterest expense (GAAP)	$	209,810		$	243,243		$	134,184
Less: Amortization of intangible assets		15,446			17,692			5,398
Less: Merger-related costs		9,034			38,626			4,940
Adjusted operating noninterest expense (non-GAAP)	$	185,330		$	186,925		$	123,846

Noninterest income (GAAP)	$	54,783		$	57,000		$	29,163
Less: Gain (loss) on sale of securities		2			2			(102)
Less: Gain on sale of equity interest in CSP		—			457			—
Adjusted operating noninterest income (non-GAAP)	$	54,781		$	56,541		$	29,265

Net interest income (FTE) (non-GAAP)⁽¹⁾	$	316,923		$	334,789		$	187,921
Adjusted operating noninterest income (non-GAAP)		54,781			56,541			29,265
Total adjusted revenue (FTE) (non-GAAP) ⁽¹⁾	$	371,704		$	391,330		$	217,186

Efficiency ratio		57.14	%		62.83	%		62.90	%
Efficiency ratio (FTE) ⁽¹⁾		56.45	%		62.09	%		61.81	%
Adjusted operating efficiency ratio (FTE) ⁽¹⁾⁽⁶⁾		49.86	%		47.77	%		57.02	%

Operating ROA & ROE ⁽⁴⁾
Adjusted operating earnings (non-GAAP)	$	129,119		$	141,366		$	54,542

Average assets (GAAP)	$	37,254,857		$	37,356,117		$	24,678,974
Return on average assets (ROA) (GAAP)		1.33	%		1.19	%		0.82	%
Adjusted operating return on average assets (ROA) (non-GAAP)		1.41	%		1.50	%		0.90	%

Average equity (GAAP)	$	5,068,069		$	4,950,858		$	3,183,846
Return on average equity (ROE) (GAAP)		9.78	%		8.97	%		6.35	%
Adjusted operating return on average equity (ROE) (non-GAAP)		10.33	%		11.33	%		6.95	%

Operating ROTCE ^(2)(3)(4)
Adjusted operating earnings available to common shareholders (non-GAAP)	$	126,152		$	138,399		$	51,575
Plus: Amortization of intangibles, tax effected		12,202			13,977			4,264
Adjusted operating earnings available to common shareholders before amortization of intangibles (non-GAAP)	$	138,354		$	152,376		$	55,839

Average tangible common equity (non-GAAP)	$	2,860,550		$	2,733,470		$	1,721,647
Adjusted operating return on average tangible common equity (non-GAAP)		19.62	%		22.12	%		13.15	%

Operating pre-tax pre-provision earnings (FTE) ⁽⁷⁾
Net income (GAAP)	$	122,165		$	111,966		$	49,818
Plus: Provision for credit losses		2,737			2,211			17,638
Plus: Income tax expense		32,444			29,748			11,687
Plus: Merger-related costs		9,034			38,626			4,940
Plus: FTE adjustment		4,550			4,621			3,757
Less: Gain (loss) on sale of securities		2			2			(102)
Less: Gain on sale of equity interest in CSP		—			457			—
Adjusted operating pre-tax pre-provision earnings (FTE) (non-GAAP)	$	170,928		$	186,713		$	87,942
Less: Dividends on preferred stock		2,967			2,967			2,967
Adjusted operating pre-tax pre-provision earnings available to common shareholders (FTE) (non-GAAP)	$	167,961		$	183,746		$	84,975

Weighted average common shares outstanding, diluted		142,280,978			142,118,797			90,072,795
Adjusted operating pre-tax pre-provision earnings per common share, diluted (FTE)	$	1.18		$	1.29		$	0.94

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)


	As of & For Three Months Ended
	3/31/26			12/31/25			3/31/25
Mortgage Origination Held for Sale Volume
Refinance Volume	$	25,375		$	20,179		$	10,035
Purchase Volume		60,543			79,089			33,733
Total Mortgage loan originations held for sale	$	85,918		$	99,268		$	43,768
% of originations held for sale that are refinances		29.5	%		20.3	%		22.9	%

Wealth
Assets under management	$	15,246,694		$	15,146,318		$	6,785,740

Other Data
End of period full-time equivalent employees		3,034			3,001			2,128

(1)

These are non-GAAP financial measures. The Company believes net interest income (FTE), total revenue (FTE), total adjusted revenue (FTE), which are used in computing net interest margin (FTE), efficiency ratio (FTE) and adjusted operating efficiency ratio (FTE), provide valuable additional insight into the net interest margin and the efficiency ratio by adjusting for differences in tax treatment of interest income sources. The entire FTE adjustment is attributable to interest income on earning assets, which is used in computing the yield on earning assets. Interest expense and the related cost of interest-bearing liabilities and cost of funds ratios are not affected by the FTE components.

(2)

These are non-GAAP financial measures. Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy because they provide a meaningful base for period-to-period and company-to-company comparisons, which the Company believes will assist investors in assessing the capital of the Company and its ability to absorb potential losses. The Company believes tangible common equity is an important indication of its ability to grow organically and through business combinations as well as its ability to pay dividends and to engage in various capital management strategies.

(3)

These are non-GAAP financial measures. The Company believes that ROTCE is a meaningful supplement to GAAP financial measures and is useful to investors because it measures the performance of a business consistently across time without regard to whether components of the business were acquired or developed internally.

(4)

These are non-GAAP financial measures. Adjusted operating measures exclude, as applicable, merger-related costs, gain (loss) on sale of securities, and gain on sale of equity interest in CSP. The Company believes these non-GAAP adjusted measures provide investors with important information about the continuing economic results of the Company’s operations.

(5)	All ratios at March 31, 2026 are estimates and subject to change pending the Company’s filing of its FR Y9-C. All other periods are presented as filed.

(6)

The adjusted operating efficiency ratio (FTE) excludes, as applicable, the amortization of intangible assets, merger-related costs, gain (loss) on sale of securities, and gain on sale of equity interest in CSP. This measure is similar to the measure used by the Company when analyzing corporate performance and is also similar to the measure used for incentive compensation. The Company believes this adjusted measure provides investors with important information about the continuing economic results of the Company’s operations.

(7)

These are non-GAAP financial measures. Adjusted operating pre-tax pre-provision earnings (FTE) excludes, as applicable, the provision for credit losses, which can fluctuate significantly from period-to-period under the CECL methodology, income tax expense, merger-related costs, gain (loss) on sale of securities, and gain on sale of equity interest in CSP. The Company believes this adjusted measure provides investors with important information about the continuing economic results of the Company’s operations.

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share data)


	March 31,		December 31,		March 31,
	2026		2025		2025
ASSETS		(unaudited)		(audited)		(unaudited)
Cash and cash equivalents:
Cash and due from banks	$	451,370	$	234,257	$	194,083
Interest-bearing deposits in other banks		321,302		706,014		236,094
Federal funds sold		7,456		26,191		3,961
Total cash and cash equivalents		780,128		966,462		434,138
Securities available for sale, at fair value		4,011,410		4,194,301		2,483,835
Securities held to maturity, at carrying value		870,288		884,216		821,059
Restricted stock, at cost		177,513		190,200		100,312
Loans held for sale		20,776		18,486		9,525
Loans held for investment, net of unearned income		27,946,424		27,796,167		18,427,689
Less: allowance for loan and lease losses		291,100		295,108		193,796
Total loans held for investment, net		27,655,324		27,501,059		18,233,893
Premises and equipment, net		162,549		166,752		111,876
Goodwill		1,754,875		1,733,287		1,214,053
Amortizable intangibles, net		300,099		315,544		79,165
Bank owned life insurance		675,816		672,890		496,933
Other assets		906,233		942,557		647,822
Total assets	$	37,315,011	$	37,585,754	$	24,632,611
LIABILITIES
Noninterest-bearing demand deposits	$	6,843,726	$	6,844,629	$	4,471,173
Interest-bearing deposits		23,547,530		23,627,007		16,031,701
Total deposits		30,391,256		30,471,636		20,502,874
Securities sold under agreements to repurchase		144,605		75,432		57,018
Other short-term borrowings		385,000		650,000		—
Long-term borrowings		774,982		771,860		418,667
Other liabilities		566,852		610,428		468,836
Total liabilities		32,262,695		32,579,356		21,447,395
STOCKHOLDERS' EQUITY
Preferred stock, $10.00 par value		173		173		173
Common stock, $1.33 par value		188,940		188,563		118,823
Additional paid-in capital		3,890,335		3,888,841		2,280,300
Retained earnings		1,251,356		1,184,908		1,119,635
Accumulated other comprehensive loss		(278,488)		(256,087)		(333,715)
Total stockholders' equity		5,052,316		5,006,398		3,185,216
Total liabilities and stockholders' equity	$	37,315,011	$	37,585,754	$	24,632,611

Common shares issued and outstanding		142,060,496		141,776,886		89,340,541
Common shares authorized		200,000,000		200,000,000		200,000,000
Preferred shares issued and outstanding		17,250		17,250		17,250
Preferred shares authorized		500,000		500,000		500,000

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(Dollars in thousands, except share data)


	Three Months Ended
	March 31,		December 31,		March 31,
	2026		2025		2025
Interest and dividend income:
Interest and fees on loans	$	419,628	$	443,714	$	271,515
Interest on deposits in other banks		2,146		6,134		2,513
Interest and dividends on securities:
Taxable		41,008		43,038		23,648
Nontaxable		8,953		8,956		8,160
Total interest and dividend income		471,735		501,842		305,836
Interest expense:
Interest on deposits		141,779		157,886		115,587
Interest on short-term borrowings		5,227		957		909
Interest on long-term borrowings		12,356		12,831		5,176
Total interest expense		159,362		171,674		121,672
Net interest income		312,373		330,168		184,164
Provision for credit losses		2,737		2,211		17,638
Net interest income after provision for credit losses		309,636		327,957		166,526
Noninterest income:
Service charges on deposit accounts		12,116		11,742		9,683
Other service charges, commissions and fees		1,938		1,726		1,762
Interchange fees		3,326		3,660		2,949
Fiduciary and asset management fees		20,178		19,848		6,697
Mortgage banking income		2,026		2,084		973
Bank owned life insurance income		5,200		5,040		3,537
Loan-related interest rate swap fees		3,975		8,381		2,400
Other operating income		6,024		4,519		1,162
Total noninterest income		54,783		57,000		29,163
Noninterest expenses:
Salaries and benefits		113,413		108,405		75,415
Occupancy expenses		13,202		13,222		8,580
Furniture and equipment expenses		5,555		5,331		3,914
Technology and data processing		15,602		17,495		10,188
Professional services		5,768		8,044		4,687
Marketing and advertising expense		7,328		6,786		3,184
FDIC assessment premiums and other insurance		6,846		7,392		5,201
Franchise and other taxes		4,705		4,874		4,643
Loan-related expenses		2,851		2,216		1,249
Amortization of intangible assets		15,446		17,692		5,398
Merger-related costs		9,034		38,626		4,940
Other expenses		10,060		13,160		6,785
Total noninterest expenses		209,810		243,243		134,184
Income before income taxes		154,609		141,714		61,505
Income tax expense		32,444		29,748		11,687
Net Income	$	122,165	$	111,966	$	49,818
Dividends on preferred stock		2,967		2,967		2,967
Net income available to common shareholders	$	119,198	$	108,999	$	46,851

Basic earnings per common share	$	0.84	$	0.77	$	0.53
Diluted earnings per common share	$	0.84	$	0.77	$	0.52

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

AVERAGE BALANCES, INCOME AND EXPENSES, YIELDS AND RATES (TAXABLE EQUIVALENT BASIS) (UNAUDITED)

(Dollars in thousands)


	For the Quarter Ended
	March 31, 2026								December 31, 2025
	Average Balance			Interest Income / Expense ⁽¹⁾			Yield / Rate ⁽¹⁾⁽²⁾		Average Balance			Interest Income / Expense⁽¹⁾			Yield / Rate ⁽¹⁾⁽²⁾
Assets:
Securities:
Taxable	$	3,877,982		$	41,008		4.29%		$	3,938,289		$	43,038		4.34%
Tax-exempt		1,329,520			11,333		3.46%			1,330,808			11,337		3.38%
Total securities		5,207,502			52,341		4.08%			5,269,097			54,375		4.09%
LHFI, net of unearned income ⁽³⁾⁽⁴⁾		27,830,037			421,299		6.14%			27,433,274			445,296		6.44%
Other earning assets		340,251			2,645		3.15%			852,694			6,792		3.16%
Total earning assets		33,377,790		$	476,285		5.79%			33,555,065		$	506,463		5.99%
Allowance for loan and lease losses		(296,795)								(295,879)
Total non-earning assets		4,173,862								4,096,931
Total assets	$	37,254,857							$	37,356,117

Liabilities and Stockholders' Equity:
Interest-bearing deposits:
Transaction and money market accounts	$	14,701,490		$	79,333		2.19%		$	14,850,122		$	88,616		2.37%
Regular savings		2,713,336			10,894		1.63%			2,840,140			12,521		1.75%
Time deposits ⁽⁵⁾		6,039,778			51,552		3.46%			6,229,539			56,749		3.61%
Total interest-bearing deposits		23,454,604			141,779		2.45%			23,919,801			157,886		2.62%
Other borrowings⁽⁶⁾		1,373,627			17,583		5.19%			914,352			13,788		5.98%
Total interest-bearing liabilities	$	24,828,231		$	159,362		2.60%		$	24,834,153		$	171,674		2.74%

Noninterest-bearing liabilities:
Demand deposits		6,755,732								6,964,548
Other liabilities		602,825								606,558
Total liabilities		32,186,788								32,405,259
Stockholders' equity		5,068,069								4,950,858
Total liabilities and stockholders' equity	$	37,254,857							$	37,356,117

Net interest income (FTE)				$	316,923							$	334,789

Interest rate spread							3.19%								3.25%
Cost of funds							1.94%								2.03%
Net interest margin (FTE)							3.85%								3.96%

(1)	Income and yields are reported on a taxable equivalent basis using the statutory federal corporate tax rate of 21%.

(2)	Rates and yields are annualized and calculated from rounded amounts in thousands, which appear above.

(3)	Nonaccrual loans are included in average loans outstanding.

(4)	Interest income on loans includes $35.6 million and $48.4 million for the three months ended March 31, 2026 and December 31, 2025, respectively, in accretion of the fair market value adjustments related to acquisitions.

(5)	Interest expense on time deposits includes $366 thousand and $762 thousand for the three months ended March 31, 2026 and December 31, 2025, respectively, in accretion of the fair market value adjustments related to acquisitions.

(6)	Interest expense on borrowings includes $3.0 million and $3.2 million for the three months ended March 31, 2026 and December 31, 2025, respectively, in amortization of the fair market value adjustments related to acquisitions.

Exhibit 99.2

Q1 2026 Earnings Presentation April 21, 2026

2 FORWARD-LOOKING STATEMENTS This presentation and statements by our management may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include, without limitation, statements regarding our acquisition of Sandy Spring Bancorp, Inc. (“Sandy Spring”), including expectations with regard to the benefits of the Sandy Spring acquisition; statements regarding our strategic expansion into North Carolina; statements regarding our business, financial and operating results, including our deposit base and funding; the impact of changes in economic conditions, anticipated changes in the interest rate environment and the related impacts on our net interest margin, changes in economic, fiscal or trade policy and the potential impacts on our business, loan demand and economic conditions in our markets and nationally; management’s beliefs regarding our liquidity, capital resources, asset quality, CRE loan portfolio and our customer relationships; statements regarding our strategy, statements that include other projections, predictions, expectations, or beliefs about future events or results or otherwise are not statements of historical fact, and statements on the slides entitled “Highlights”, “The Next Phase – Harnessing Organic Power” and “2026 Financial Outlook”. Such forward-looking statements are based on certain assumptions as of the time they are made, and are inherently subject to known and unknown risks, uncertainties, and other factors, some of which cannot be predicted or quantified, that may cause actual results, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are often characterized by the use of qualified words (and their derivatives) such as “expect,” “believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,” “will,” “may,” “view,” “opportunity,” “seek to,” “potential,” “continue,” “confidence,” or words of similar meaning or other statements concerning opinions or judgment of Atlantic Union Bankshares Corporation (the “Company,” “AUB,” “we,” “us” or “our”) and our management about future events. Although we believe that our expectations with respect to forward-looking statements are based on reasonable assumptions within the bounds of our existing knowledge of our business and operations, there can be no assurance that actual future results, performance, or achievements of, or trends affecting, us will not differ materially from any projected future results, performance, achievements or trends expressed or implied by such forward-looking statements. Actual future results, performance, achievements or trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to, the effects of or changes in: • market interest rates and their related impacts on macroeconomic conditions, customer and client behavior, our funding costs and our loan and securities portfolios; • economic conditions, including inflation and recessionary conditions and their related impacts on economic growth and customer and client behavior; • U.S. and global trade policies and tensions, including changes in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability; • volatility in the financial services sector, including failures or rumors of failures of other depository institutions, along with actions taken by governmental agencies to address such turmoil, and the effects on the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; • legislative or regulatory changes and requirements, including changes in federal state or local tax laws and changes impacting the rulemaking, supervision, examination and enforcement priorities of the federal banking agencies; • the sufficiency of liquidity and changes in our capital position; • general economic and financial market conditions in the United States generally and particularly in the markets in which we operate and which our loans are concentrated, including the effects of declines in real estate values, an increase in unemployment levels, U.S. fiscal debt, budget and tax matters, U.S. government shutdowns, and slowdowns in economic growth; • the impact of purchase accounting with respect to the Sandy Spring acquisition, or any change in the assumptions used regarding the assets acquired and liabilities assumed to determine the fair value and credit marks; • the possibility that the anticipated benefits of our acquisition activity, including our acquisitions of Sandy Spring and American National, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of the strength of the economy, competitive factors in the areas where we do business, or as a result of other unexpected factors or events; • potential adverse reactions or changes to business or employee relationships, including those resulting from our acquisitions of Sandy Spring and American National; • our ability to identify, recruit and retain key employees • monetary, fiscal and regulatory policies of the U.S. government, including policies of the U.S. Department of the Treasury and the Federal Reserve; • the quality or composition of our loan or investment portfolios and changes in these portfolios; • demand for loan products and financial services in our market areas; • our ability to manage our growth or implement our growth strategy; • the effectiveness of expense reduction plans; • the introduction of new lines of business or new products and services; • real estate values in our lending area; • changes in accounting principles, standards, rules, and interpretations, and the related impact on our financial statements; • an insufficient ACL or volatility in the ACL resulting from the CECL methodology, either alone or as that may be affected by changing economic conditions, credit concentrations, inflation, changing interest rates, or other factors; • concentrations of loans secured by real estate, particularly commercial real estate; • the effectiveness of our credit processes and management of our credit risk; • our ability to compete in the market for financial services and increased competition from fintech companies; • technological risks and developments, and cyber threats, attacks, or events; • emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action or increase the risk of a cybersecurity attack or the probability that such an attack would be successful; • operational, technological, cultural, regulatory, legal, credit, and other risks associated with the exploration, consummation and integration of potential future acquisitions, whether involving stock or cash consideration; • the potential adverse effects of unusual and infrequently occurring events, such as weather-related disasters, terrorist acts, geopolitical conflicts or public health events (such as pandemics), and of governmental and societal responses thereto; these potential adverse effects may include, without limitation, adverse effects on macroeconomic conditions, the ability of our borrowers to satisfy their obligations to us, on the value of collateral securing loans, on the demand for our loans or our other products and services, on supply chains and methods used to distribute products and services, on incidents of cyberattack and fraud, on our liquidity or capital positions, on risks posed by reliance on third-party service providers, on other aspects of our business operations and on financial markets and economic growth; • performance by our counterparties or vendors; • deposit flows; • the availability of financing and the terms thereof; • the level of prepayments on loans and mortgage-backed securities; • actual or potential claims, damages, and fines related to litigation or government actions, which may result in, among other things, additional costs, fines, penalties, restrictions on our business activities, reputational harm, or other adverse consequences; • any event or development that would cause us to conclude that there was an impairment of any asset, including intangible assets, such as goodwill; and • other factors, many of which are beyond our control. Please also refer to such other factors as discussed throughout Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our Annual Report on Form 10-K for the year ended December 31, 2025, and related disclosures in other filings, which have been filed with the U.S. Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. All risk factors and uncertainties described herein and therein should be considered in evaluating forward-looking statements, and all forward-looking statements are expressly qualified by the cautionary statements contained or referred to herein and therein. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on the Company or our businesses or operations. Readers are cautioned not to rely too heavily on forward-looking statements. Forward-looking statements speak only as of the date they are made. We do not intend or assume any obligation to update, revise or clarify any forward-looking statements that may be made from time to time by or on behalf of the Company, whether because of new information, future events or otherwise, except as required by law.

3 ADDITIONAL INFORMATION Non-GAAP Financial Measures This presentation contains certain financial information determined by methods other than in accordance with generally accepted accounting principles in the United States (“GAAP”). These non-GAAP financial measures are a supplement to GAAP, which is used to prepare our financial statements, and should not be considered in isolation or as a substitute for comparable measures calculated in accordance with GAAP. In addition, our non-GAAP financial measures may not be comparable to non-GAAP financial measures of other companies. We use the non-GAAP financial measures discussed herein in our analysis of our performance. Our management believes that these non-GAAP financial measures provide additional understanding of ongoing operations, enhance comparability of results of operations with prior periods, show the effects of significant gains and charges in the periods presented without the impact of items or events that may obscure trends in our underlying performance, or show the potential effects of accumulated other comprehensive income (or AOCI) or unrealized losses on securities on our capital. This presentation also includes certain projections of non-GAAP financial measures. Due to the inherent variability and difficulty associated with making accurate forecasts and projections of information that is excluded from these projected non-GAAP measures, and the fact that some of the excluded information is not currently ascertainable or accessible, we are unable to quantify certain amounts that would be required to be included in the most directly comparable projected GAAP financial measures without unreasonable effort. Consequently, no disclosure of projected comparable GAAP measures is included, and no reconciliation of forward-looking non-GAAP financial information is included. Please see “Reconciliation of Non-GAAP Disclosures” at the end of this presentation for a reconciliation to the nearest GAAP financial measure. No Offer or Solicitation This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful. Market and Industry Data Unless otherwise indicated, market data and certain industry forecast data used in this presentation were obtained from internal reports, where appropriate, as well as third party sources and other publicly available information. Data regarding the industries and markets in which the Company competes, its market position and market share within these industries are inherently imprecise and are subject to significant business, economic and competitive uncertainties beyond the Company's control. In addition, assumptions and estimates of the Company and its industries' future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause future performance to differ materially from assumptions and estimates. About Atlantic Union Bankshares Corporation Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located in Virginia, Maryland, North Carolina and Washington, D.C. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; AUB Investments, Inc., which provides investment services; and Atlantic Union Capital Markets, Inc., which provides capital market services.

4 N O R F O L K V I R G I N I A B E A C H M a ry l a n d V irg in ia No rth C a ro l in a C H A R L O T T E W I L M I N G T O N B A L T I M O R E R A L E I G H G R E E N S B O R O W A S H I N G T O N R O A N O K E S T A U N T O N C H A R L O T T E S V I L L E R I C H M O N D F R E D E R I C K S B U R G HIGHLIGHTS1 branches across Virginia, North Carolina and Maryland footprint 178 largest regional bank in lower Mid-Atlantic, Maryland and Virginia2,3 #1 $37.3 Billion Assets $27.9 Billion Loans $30.4 Billion Deposits $5.5 Billion Market Capitalization Soundness | Profitability | Growth 1. Assets, Loans, Deposits, and Branch Count are as of March 31, 2026. Market Cap as of April 20, 2026. 2. Based on deposit market share as of June 30, 2025. Regional market: Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia 3. Regional banks defined as U.S. Banks with <$100 Billion in assets OUR COMPANY Branch (178) LPO (2) Largest Regional Bank Headquartered in the Lower Mid-Atlantic

5 Dense, uniquely valuable presence across attractive markets FINANCIAL STRENGTH Solid balance sheet & capital levels PEER-LEADING PERFORMANCE Committed to top-tier financial performance ATTRACTIVE FINANCIAL PROFILE Solid dividend yield & payout ratio with earnings upside STRONG GROWTH POTENTIAL Organic & acquisition opportunities OUR SHAREHOLDER VALUE PROPOSITION Positioned for growth and long-term shareholder value creation as a preeminent regional bank with a leading presence in attractive markets LEADING REGIONAL PRESENCE

AUB Q1 2026 FINANCIAL RESULTS

7 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measure in "Appendix - Reconciliation of Non-GAAP Disclosures” HIGHLIGHTS Q1 2026 LOANS & DEPOSITS Loan growth was approximately 2.2% annualized in Q1 2026 Non-interest bearing deposits at 23% of total deposits at March 31, 2026 Loan/Deposit ratio of 92.0% at March 31, 2026 POSITIONING FOR LONG TERM Lending pipelines remain healthy and are higher than at the start of Q1 2026 Focused on generating positive operating leverage DIFFERENTIATED CLIENT EXPERIENCE Responsive, strong and capable alternative to large national banks, while competitive with and more capable than smaller banks CAPITALIZE ON STRATEGIC OPPORTUNITIES Focused on execution after completion of Sandy Spring franchise integration Organic expansion in North Carolina planned in 2026 FINANCIAL RATIOS Q1 2026 adjusted operating return on tangible common equity of 19.6%1 Q1 2026 adjusted operating return on assets of 1.41%1 Q1 2026 adjusted operating efficiency ratio (FTE) of 49.9%1 ASSET QUALITY Q1 2026 annualized net charge-offs at 2 basis points of total average loans held for investment Allowance for Credit Loss as a percentage of loans held for investment of 1.15% 7

8 Source: Most recent data available from S&P Global; Bureau of Economic Analysis, Bureau of Labor Statistics Our Markets # State Pop. (Millions) 1 California 39.4 2 Texas 32.0 3 Florida 24.0 4 New York 19.9 5 Pennsylvania 13.1 6 Illinois 12.7 7 Ohio 11.9 8 Georgia 11.3 # State HHI ($) 1 District of Columbia 117,508 2 Massachusetts 109,065 3 New Jersey 108,801 4 Maryland 107,134 5 New Hampshire 106,667 6 California 105,694 7 Washington 105,641 8 Hawaii 105,239 # State GDP ($Billions) 1 California 4,251 2 Texas 2,904 3 New York 2,468 4 Florida 1,835 5 Illinois 1,202 6 Pennsylvania 1,056 7 Ohio 967 8 Georgia 925 # State Pop. (Millions) 9 North Carolina 11.2 10 Michigan 10.2 11 New Jersey 9.6 12 Virginia 8.9 13 Washington 8.0 14 Arizona 7.7 15 Tennessee 7.3 18 Maryland 6.3 # State HHI ($) 9 Utah 103,211 10 Connecticut 102,592 11 Colorado 102,130 12 Virginia 99,769 13 Alaska 96,366 14 Minnesota 95,088 15 Rhode Island 93,626 37 North Carolina 79,045 # State GDP ($Billions) 9 Washington 895 10 North Carolina 894 11 New Jersey 887 12 Massachusetts 820 13 Virginia 798 14 Michigan 730 15 Arizona 598 18 Maryland 568 MEDIAN HOUSEHOLD INCOME ($) 2026 POPULATION ( M I LLI O N S ) 2025 GDP ( $ B I LLI O N S ) UNEMPLOYMENT BY STATE # State January 2026 (%) 1 South Dakota 2.2 1 Hawaii 2.2 3 North Dakota 2.6 4 Vermont 2.7 4 Alabama 2.7 6 Nebraska 3.0 7 New Hampshire 3.2 8 Wisconsin 3.3 # State January 2026 (%) 8 Maine 3.3 10 Indiana 3.4 10 Iowa 3.4 17 Virginia 3.7 19 North Carolina 3.8 25 Maryland 4.3 51 District of Columbia 6.7 National Rate 4.3

9 THE NEXT PHASE Harnessing Organic Power With the franchise now established, our focus is on maximizing its potential: We Believe AUB Was Built For This Moment We have invested the capital, built the platform, and assembled the team. Now is the time to demonstrate the power of what we have built— delivering sustainable, top-tier performance and returns. Organic growth Deepening relationships, growing our company organically, and leveraging our scale efficiently. Capital generation Shifting from capital deployment to capital creation, targeting top tier returns, earnings growth, and tangible book value per share growth. Disciplined execution Delivering on the promises made to our stakeholders.

10 • Reported net income available to common shareholders increased $10.2 million in the first quarter of 2026 compared to the fourth quarter of 2025, primarily driven by: • A decrease in noninterest expense, primarily driven by a $29.6 million decrease in pre-tax merger-related costs and a $2.3 million decrease in amortization of intangible assets. For further detail on the decrease in noninterest expense see slide “Q1 2026 Noninterest Expense” • Partially offset by a decrease in net interest income, driven primarily by a decrease in interest income on loans held for investment (“LHFI”), reflecting lower loan accretion income, the lower day count in the first quarter, as well as the impact of lower yields on variable-rate loans following the cumulative 75 basis point reduction in the federal funds rate between September and December 2025. The decreases were partially offset by a decrease in interest expense, primarily due to lower deposit costs, resulting from reduced brokered deposit balances and lower customer deposit rates due to the reductions in the federal funds rate • And a decrease in noninterest income primarily driven by a $4.4 million decrease in loan-related interest rate swap fees due to seasonally lower transaction volumes, partially offset by a $1.5 million increase in other operating income, primarily driven by an increase in capital markets income. For further detail on the decrease in noninterest income see slide “Q1 2026 Noninterest Income”. • Adjusted operating earnings available to common shareholders1 decreased $12.2 million in the first quarter compared to the fourth quarter primarily due to: • A decrease in net interest income, as described above • Partially offset by a decrease in adjusted noninterest expense1 , as described above excluding merger-related costs and amortization of intangible assets 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” Note: all tables presented dollars in thousands, except per share amounts Q1 2026 FINANCIAL PERFORMANCE AT-A-GLANCE SUMMARIZED INCOME STATEMENT 1Q2026 4Q2025 $ Change % Change Net interest income $312,373 $330,168 ($17,795) (5.4%) - Provision for credit losses 2,737 2,211 526 23.8% + Noninterest income 54,783 57,000 (2,217) (3.9%) - Noninterest expense 209,810 243,243 (33,433) (13.7%) - Income tax expense 32,444 29,748 2,696 9.1% Net income (GAAP) $122,165 $111,966 $10,199 9.1% - Dividends on preferred stock 2,967 2,967 — 0.0% Net income available to common shareholders (GAAP) $119,198 $108,999 $10,199 9.4% + Merger-related costs, net of tax 6,956 29,742 (22,786) (76.6%) - Gain on sale of securities, net of tax 2 2 — 0.0% - Gain on sale of equity interest in CSP, net of tax — 340 (340) (100.0%) Adjusted operating earnings available to common shareholders (non-GAAP)1 $126,152 $138,399 ($12,247) (8.8%) EARNINGS METRICS 1Q2026 4Q2025 Net Income available to common shareholders $119,198 $108,999 Common EPS, diluted $0.84 $0.77 ROE 9.78% 8.97% ROTCE (non-GAAP)1 18.63% 17.85% ROA 1.33% 1.19% Efficiency ratio 57.14% 62.83% Efficiency ratio (FTE)1 56.45% 62.09% Net interest margin 3.80% 3.90% Net interest margin (FTE)1 3.85% 3.96% ADJUSTED OPERATING EARNINGS METRICS - NON-GAAP1 1Q2026 4Q2025 Adjusted operating earnings available to common shareholders $126,152 $138,399 Adjusted operating common EPS, diluted $0.89 $0.97 Core net interest margin (FTE) 3.45% 3.41% Adjusted operating ROA 1.41% 1.50% Adjusted operating ROTCE 19.62% 22.12% Adjusted operating efficiency ratio (FTE) 49.86% 47.77% Adjusted operating PTPP earnings (FTE) $170,928 $186,713 PTPP = Pre-tax Pre-provision

11 Numbers may not foot due to rounding Q1 2026 ALLOWANCE FOR CREDIT LOSSES (ACL) AND PROVISION FOR CREDIT LOSSES Q1 MACROECONOMIC FORECAST Q1 ACL CONSIDERATIONS MOODY’S MARCH 2026 BASELINE FORECAST: • US GDP expected to average ~2.8% growth in 2026 and ~1.8% in 2027. • The national unemployment rate expected to average ~4.5% in 2026 and 2027. • Effective January 1, 2026, the Company made certain changes to its ACL methodology as part of the continued enhancement of its credit modeling practices, resulting in more dynamic and precise modeling that allows for more granularity in the monitoring of our credit losses. • Utilizes a weighted Moody’s forecast economic scenarios approach in the overall estimate. • The slight increase the allowance for credit loss reflects the increase in RUC primarily due to increased higher CLD unfunded commitments, partially offset by a decline in the ALLL due to portfolio mix changes. • The reasonable and supportable forecast period is 2 years; followed by reversion to the historical loss average over 2 years. ALLOWANCE FOR LOAN & LEASE LOSSES (ALLL) RESERVE FOR UNFUNDED COMMITMENTS (RUC) ALLOWANCE FOR CREDIT LOSSES 09/30/2025 Ending Balance % of loans $293.0 million (1.07%) $27.0 million (0.10%) $320.0 million (1.17%) Q4 2025 Activity +$2.1 million Increase primarily reflecting loan growth. ($0.8) million Slight decrease due to the decrease in ALLL rate. +$1.3 million $2.2 million Provision for Credit Losses and $0.9 million net charge-offs. 12/31/2025 Ending Balance % of loans $295.1 million (1.06%) $26.2 million (0.10%) $321.3 million (1.16%) Q1 2026 Activity ($4.0) million Decrease driven by portfolio mix changes. +$4.6 million Increase primarily driven by higher construction and land development unfunded commitments. +$0.6 million $2.2 million Provision for Credit Losses and $1.6 million net charge-offs. 03/31/2026 Ending Balance % of loans $291.1 million (1.04%) $30.8 million (0.11%) $321.9 million (1.15%)

12 * Core Loan yield includes Loan Fees and Loan Swaps 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” Numbers may not foot due to rounding 2. Source Bloomberg Q1 2026 NET INTEREST MARGIN MARKET RATES2 Q1 2026 Q4 2025 EOP Avg EOP Avg Fed funds 3.75% 3.75% 3.75% 4.02% Prime 6.75% 6.75% 6.75% 7.02% 1-month SOFR 3.66% 3.67% 3.69% 3.91% 2-year Treasury 3.79% 3.58% 3.47% 3.53% 5-year Treasury 3.94% 3.77% 3.73% 3.67% 10- year Treasury 4.32% 4.19% 4.17% 4.09% MARGIN OVERVIEW Q1 2026 Q4 2025 Net interest margin (FTE)1 3.85% 3.96% Loan yield (FTE)1 6.14% 6.44% Investment yield (FTE)1 4.08% 4.09% Earning asset yield (FTE)1 5.79% 5.99% Cost of deposits 1.90% 2.03% Cost of interest-bearing deposits 2.45% 2.62% Cost of interest-bearing liabilities 2.60% 2.74% Cost of funds 1.94% 2.03% Presented on an FTE basis (non-GAAP)1 Approximately 20% of the total loan portfolio at 3/31/2026 have floors and all are above floors LOAN PORTFOLIO PRICING MIX Q1 2026 Fixed 48% 1-month SOFR 40% Prime 8% Other 4% Total 100% 3.83% - 9 bps - 1 bps 3.85% 15 bps - 5 bps 4 bps 3.96% - 15 bps Q4 2025 Reported NIM Core Loan Yield* Cash/Securities Yield Earning Assets Mix Core Deposits Rates/Mix Borrowings Net Purchase Accounting Accretion Q1 2026 Reported NIM NET INTEREST MARGIN (FTE): DRIVERS OF CHANGE 4Q 2025 TO Q1 2026

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” 13 Q1 2026 NONINTEREST INCOME Noninterest income decreased approximately 4% in the first quarter of 2026 compared to the fourth quarter of 2025 primarily due to: • A $4.4 million decrease in loan-related interest rate swap fees due to seasonally lower transaction volumes • Partially offset by a $1.5 million increase in other operating income, primarily due to an increase in capital markets income ($ THOUSANDS) 1Q2026 4Q2025 $ Change % Change Service charges on deposit accounts $12,116 $11,742 $374 3.2% Other service charges, commissions and fees 1,938 1,726 212 12.3% Interchange fees 3,326 3,660 (334) (9.1%) Fiduciary and asset management fees 20,178 19,848 330 1.7% Mortgage banking income 2,026 2,084 (58) (2.8%) Bank owned life insurance income 5,200 5,040 160 3.2% Loan-related interest rate swap fees 3,975 8,381 (4,406) (52.6%) Other operating income 6,024 4,519 1,505 33.3% Total noninterest income $54,783 $57,000 ($2,217) (3.9%) Less: Gain on sale of securities 2 2 — 0.0% Less: Gain on sale of equity interest in CSP — 457 (457) (100.0%) Total adjusted operating noninterest income (non-GAAP)1 $54,781 $56,541 ($1,760) (3.1%)

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” 14 Q1 2026 NONINTEREST EXPENSE Noninterest expense decreased approximately 14% in the first quarter of 2026 compared to the fourth quarter of 2025 primarily due to: • A $29.6 million decrease in pre-tax merger-related costs • A $2.3 million decrease in amortization of intangible assets Adjusted operating noninterest expense1 decreased approximately 0.9% in the first quarter of 2026 compared to the fourth quarter of 2025 primarily due to: • A $3.1 million decrease in other expenses, primarily due to a decrease in non-credit-related losses on customer transactions • A $2.3 million decrease in professional services related to strategic projects that occurred in the prior quarter • A $1.9 million decrease in technology and data processing expense • Partially offset by a $5.0 million increase in salaries and benefits expense, primarily due to seasonal increases in payroll taxes and 401(k) contribution expenses ($ THOUSANDS) 1Q2026 4Q2025 $ Change % Change Salaries and benefits $113,413 $108,405 $5,008 4.6% Occupancy expenses 13,202 13,222 (20) (0.2%) Furniture and equipment expenses 5,555 5,331 224 4.2% Technology and data processing 15,602 17,495 (1,893) (10.8%) Professional services 5,768 8,044 (2,276) (28.3%) Marketing and advertising expense 7,328 6,786 542 8.0% FDIC assessment premiums and other insurance 6,846 7,392 (546) (7.4%) Franchise and other taxes 4,705 4,874 (169) (3.5%) Loan-related expenses 2,851 2,216 635 28.7% Amortization of intangible assets 15,446 17,692 (2,246) (12.7%) Merger-related costs 9,034 38,626 (29,592) (76.6%) Other expenses 10,060 13,160 (3,100) (23.6%) Total noninterest expenses $209,810 $243,243 ($33,433) (13.7%) Less: Amortization of intangible assets 15,446 17,692 (2,246) (12.7%) Less: Merger-related costs 9,034 38,626 (29,592) (76.6%) Total adjusted operating noninterest expense (non-GAAP)1 $185,330 $186,925 ($1,595) (0.9%)

15 Q1 2026 LOAN AND DEPOSITS • At March 31, 2026, LHFI totaled $27.9 billion, an increase of $150.3 million from the prior quarter. • Average loan yields (FTE)2 decreased 30 basis point to 6.14% reflecting lower loan accretion income, the lower day count in the first quarter, as well as the impact of lower yields on variable-rate loans following the cumulative 75 basis point reduction in the federal funds rate between September and December 2025. • At March 31, 2026, total deposits were $30.4 billion, a decrease of $80.4 million from the prior quarter due to a decline in brokered deposits, partially offset by an increase in interest-bearing customer deposits. • Noninterest-bearing demand deposits accounted for 23% of total deposit balances at the end of the first quarter of 2026 up from 22% in the prior quarter. • The average cost of deposits decreased by 13 basis points compared to the prior quarter, resulting from reduced brokered deposit balances and lower customer deposit rates due to reductions in the federal funds rate. • At March 31, 2026, the loan to deposit ratio was 92.0%, up from 91.2% in the prior quarter. (1) Auto portfolio is in run-off mode. (2) For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” LOANS ($ THOUSANDS) 1Q2026 4Q2025 QTD ANNUALIZED % CHANGE Commercial real estate - non-owner occupied $ 7,212,035 $ 7,178,515 1.9% Commercial real estate - owner occupied 4,319,847 4,305,796 1.3% Construction and land development 1,748,413 1,666,381 20.0% Multifamily real estate 2,321,504 2,418,250 (16.2%) Residential 1-4 Family - Commercial 1,053,303 1,100,157 (17.3%) Total Commercial Real Estate (CRE) 16,655,102 16,669,099 (0.3%) Commercial & Industrial 5,384,856 5,229,728 12.0% Other Commercial 1,543,573 1,518,589 6.7% Total Commercial & Industrial 6,928,429 6,748,317 10.8% Total Commercial Loans $ 23,583,531 $ 23,417,416 2.9% Residential 1-4 Family - Consumer 2,839,216 2,825,259 2.0% Residential 1-4 Family - Revolving 1,257,079 1,248,284 2.9% Auto(1) 156,843 183,720 (59.3%) Consumer 109,755 121,488 (39.2%) Total Consumer Loans $ 4,362,893 $ 4,378,751 (1.5%) Total Loans Held for Investment (LHFI) (net of unearned income) $ 27,946,424 $ 27,796,167 2.2% Average Loan Yield (FTE) 6.14% 6.44% DEPOSITS ($ THOUSANDS) 1Q2026 4Q2025 QTD ANNUALIZED % CHANGE Interest checking accounts $ 7,515,409 $ 7,193,204 18.2% Money market accounts 6,985,315 6,863,981 7.2% Savings accounts 2,691,144 2,747,622 (8.3%) Customer time deposits of more than $250,000 1,767,455 1,737,345 7.0% Customer time deposits of $250,000 or less 3,977,869 3,956,571 2.2% Time deposits 5,745,324 5,693,916 3.7% Total interest-bearing customer deposits 22,937,192 22,498,723 7.9% Brokered deposits 610,338 1,128,284 (186.2%) Total interest-bearing deposits 23,547,530 23,627,007 (1.4%) Demand deposits 6,843,726 6,844,629 (0.1%) Total Deposits $ 30,391,256 $ 30,471,636 (1.1%) Average Cost of Deposits 1.90% 2.03% Loan to Deposit Ratio 92.0% 91.2%

16 CAPITAL RATIO REGULATORY WELL CAPITALIZED MINIMUMS REPORTED PRO FORMA INCLUDING AOCI & HTM UNREALIZED LOSSES ATLANTIC UNION BANKSHARES ATLANTIC UNION BANK ATLANTIC UNION BANKSHARES ATLANTIC UNION BANK Common Equity Tier 1 Ratio (CET1) 6.5% 10.2% 13.1% 9.2% 12.1% Tier 1 Capital Ratio 8.0% 10.8% 13.1% 9.7% 12.1% Total Risk Based Capital Ratio 10.0% 14.0% 14.1% 13.0% 13.0% Leverage Ratio 5.0% 9.3% 11.3% 8.4% 10.4% Tangible Equity to Tangible Assets (non-GAAP)1 - 8.5% 10.5% 8.4% 10.4% Tangible Common Equity Ratio (non-GAAP) 1 - 8.0% 10.5% 7.9% 10.4% As of 3/31/2026 As of 12/31/2025 % Change Tangible Book Value per share (non-GAAP) 1 - $19.93 $19.69 1.2% 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” * Capital information presented herein is based on estimates and subject to change pending the Company’s filing of its regulatory reports STRONG CAPITAL POSITION CAPITAL MANAGEMENT STRATEGY ATLANTIC UNION CAPITAL MANAGEMENT OBJECTIVES ARE TO: • Maintain designation as a “well capitalized” institution. • Ensure capital levels are commensurate with the Company’s risk profile, capital stress test projections, and strategic plan objectives. THE COMPANY’S CAPITAL RATIOS ARE WELL ABOVE REGULATORY WELL CAPITALIZED LEVELS AS OF MARCH 31, 2026 • On a pro forma standalone basis, the Company and the Bank would be well capitalized if unrealized losses on securities were realized at March 31, 2026. CAPITAL MANAGEMENT ACTIONS • During the first quarter of 2026, the Company paid a common stock dividend of 37 cents per share, which was the same as the fourth quarter of 2025, and an increase of 8.8% from the first quarter of 2025 dividend amount. • During the first quarter of 2026, the Company paid dividends of $171.88 per outstanding share of Series A Preferred Stock At March 31, 2026

17 2026 Financial Outlook 1. Information on this slide is presented as of April 21, 2026, reflects the Company’s updated financial outlook, certain of the Company’s financial targets, and key economic and other assumptions, and will not be updated or affirmed unless and until the Company publicly announces such an update or affirmation. The 2026 financial outlook, the Company’s financial targets and the key economic assumptions contain forward-looking statements. These statements are based on current beliefs and expectations of our management and are subject to significant risks and uncertainties, including, but not limited to, volatility and uncertainty in the macro economic environment, changes in federal and state governmental policies, the imposition or expansion of tariffs, sustained inflationary pressures, macroeconomic conditions, and geopolitical instability. As a result, actual results or conditions may differ materially. See the information set forth below the heading “Forward-Looking Statements” on slide 2 of this presentation. 2. Refer to “Additional Information” slide and Appendix for non-GAAP disclosures. FULL YEAR 2026 OUTLOOK 1 Loans (end of period) $29.0 – 30.0 billion Deposits (end of period) $31.0 – 32.0 billion Credit Outlook ACL to loans: ~115 – 120 bps Net charge-off ratio: ~10 – 15 bps Net Interest Income (FTE) 2 ~$1.34 - $1.35 billion Net Interest Margin (FTE) 2 ~3.90% - 4.00% Noninterest Income ~$220 - $230MM Adjusted Operating Noninterest Expense2 (excludes amortization of intangible assets) ~$742- $752MM Amortization of intangible assets ~$60MM Tangible Book Value Growth Per Share ~12-15% growth • The Federal Reserve Bank does not cut the fed funds rate in 2026 and term rates remain stable • Assumes moderate GDP growth and a stable economy in AUB’s branch footprint • Expect Virginia, Maryland, and North Carolina unemployment rate to rise but remain below the national unemployment rate in 2026 KEY ASSUMPTIONS1

Q1 2026 APPENDIX

19 AUB DIVERSIFIED AND GRANULAR LOAN PORTFOLIO Figures may not total to 100% due to rounding Duration and Weighted Average Yield Data is as of or for the three months ended March 31, 2026 Commercial defined as C&I plus owner-occupied commercial real estate and other commercial 1 For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in "Appendix - Reconciliation of Non-GAAP Disclosures" Duration Q2 2025 Weighted Average Yield (Tax Equivalent) C&D 6.3% Owner Occupied CRE 15.5% C&I 19.3% Other Commercial 5.5% Commercial 1-4 Family 3.8% Non-Owner Occupied CRE 25.8% Multifamily RE 8.3% Consumer 1-4 Family 10.2% Residential 1-4 family - Revolving 4.5% Auto 0.6% Consumer 0.4% TOTAL LOAN PORTFOLIO $27.9 BILLION Total Portfolio Characteristics At March 31,2026 LOAN PORTFOLIO CHARACTERISTICS 1.2 years Duration 40% Commercial 6.14% Q1 2026 Weighted Average Yield (Tax Equivalent)1

20 Total Non-Owner Occupied CRE 25.8% Owner Occupied CRE 15.5% Construction and Land Development 6.3% Multifamily Real Estate 8.3% Residential 1-4 Family - Commercial 3.8% Other Commercial (Farmland) 0.1% All Other Loans 40.2% Figures may not foot due to rounding AUB CRE PORTFOLIO At March 31, 2026 CRE BY CLASS $ I N M I LLI O N S Total Outstandings % of Total Portfolio Hotel/Motel B&B $1,247 4.5% Industrial/Warehouse $1,337 4.8% Office $1,465 5.2% Retail $1,743 6.2% Self Storage $716 2.6% Senior Living $120 0.4% Other $584 2.1% Total Non-Owner Occupied CRE $7,212 25.8% Owner Occupied CRE $4,320 15.5% Construction and Land Development $1,748 6.3% Multifamily Real Estate $2,322 8.3% Residential 1-4 Family - Commercial $1,053 3.8% Other Commercial (Farmland) $42 0.2% Total CRE $16,697 59.7% $27.9B Total Loans

21 At March 31, 2026 1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Office Portfolio Figures may not foot due to rounding. NON-OWNER OCCUPIED OFFICE CRE PORTFOLIO NON-OWNER OCCUPIED OFFICE GEOGRAPHICALLY DIVERSE NON PORTFOLIO CREDIT QUALITY -OWNER OCCUPIED OFFICE PORTFOLIO * DC, Montgomery County, Prince George’s County, Fairfax County, Fairfax City, Falls Church City, Arlington County, Alexandria City ( $ M I LLI O N S ) Carolinas $301 Western VA $155 Fredericksburg Area $160 Central VA $103 Coastal VA/NC $64 Baltimore $129 DC Metro $426 Other Maryland $53 Eastern VA $34 Other $40 Total $1,465 BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS Avg. Office Loan ($ thousands) $2,133 Median Office Loan ($ thousands) $726 Loan Loss Reserve / Office Loans 1.76% NCOs / Office Loans1 -0.01% Delinquencies / Office Loans 0.48% NPL / Office Loans 0.26% Criticized Loans / Office Loans 10.16% District of Columbia $59 Suburban Maryland $184 Suburban Virginia $184 Total $426

22 MULTIFAMILY CRE PORTFOLIO 1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Multifamily Portfolio Figures may not foot due to rounding. Carolinas $721 Western VA $261 Fredericksburg Area $85 Central VA $305 Coastal VA/NC $216 Baltimore $159 DC Metro $321 Other Maryland $10 Eastern VA $59 Other $186 Total $2,322 At March 31, 2026 * DC, Montgomery County, Prince George’s County, Fairfax County, Fairfax City, Falls Church City, Arlington County, Alexandria City BY MARKET MULTIFAMILY PORTFOLIO CREDIT GEOGRAPHICALLY DIVERSE MULTIFAMILY PORTFOLIO QUALITY DC METRO SUBMARKET* KEY PORTFOLIO METRICS ( $ M I LLI O N S ) Avg. Multifamily Loan ($ thousands) $3,566 Median Multifamily Loan ($ thousands) $863 Loan Loss Reserve / Multifamily Loans 1.16% NCOs / Multifamily Loans1 -0.01% Delinquencies / Multifamily Loans 1.37% NPL / Multifamily Loans 0.89% Criticized Loans / Multifamily Loans 12.43% District of Columbia $244 Suburban Maryland $62 Suburban Virginia $15 Total $321

23 $738.1 million 1.05% $3.4 million Total Amount of Loans Loan Loss Reserve/ Gov Con Loans Avg. Loan Size 0.00% 0.0% 6.35% Non-Performing Loans Net Charge-Offs1 Criticized Loans/ Gov Con Loans 1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Government Contracting Portfolio OVERVIEW OF GOVERNMENT-RELATED LOAN PORTFOLIO EXPOSURES • Government Contracting team has managed through government shutdowns and sequestrations in the past. • Focus on national security agency and defense industry contractors. • Active monitoring of all published notices of contract terminations or stop work orders. KEY METRICS OF GOVERNMENT CONTRACTING PORTFOLIO As of March 31, 2026

24 • Comprised primarily of facilities that help fund private equity group lending to businesses • The Company’s exposure consists of granular downstream credits held as collateral with each facility controlled with specific conservative advance rates and concentration percentages • The Company has had no NDFI charge-offs or past due loans in the preceding four quarters • All NDFI loans are included in the Other Commercial (Other) loan class 1 As of March 31, 2026, there were no outstanding balances related to loans to consumer credit intermediaries AUB NON-DEPOSITORY FINANCIAL INSTITUTION (“NDFI”)/PRIVATE CREDIT PORTFOLIO At March 31, 2026 $24.0 $157.2 $66.3 NDFI/PRIVATE CREDIT PORTFOLIO PORTFOLIO CHARACTERISTICS $ I N M I LLI O N S Loans to mortgage credit intermediaries Institutional CRE, Residential Mortgage Warehouse, Mortgage Servicing Rights ("MSR") Loans to business credit intermediaries Wholesale Lender Finance, Business Development Companies Other loans to non-depository financial institutions All Other (e.g. insurance, broker/dealer) Loans to consumer credit intermediaries1 Consumer Lender Finance N D F I / P R I V A T E C R E D I T LO A N T Y P E S Total of $247.5 NDFI Loan Loss Reserve / Total NDFI Loans 0.82% NDFI Loans/ Total Loans 0.89% Average NDFI Loan Size $2.1 million KEY PORTFOLIO METRICS KEY PORTFOLIO METRICS

25 ATTRACTIVE CORE DEPOSIT BASE Cost of deposit data is as of and for the three months ended March 31, 2026, figures may not foot due to rounding 1. Core deposits defined as total deposits less jumbo time deposits and brokered deposits Non-Interest Bearing 23% Interest Checking 25% Money Market 23% Retail Time 13% Jumbo Time 6% Brokered 2% Savings 9% DEPOSIT BASE CHARACTERISTICS DEPOSIT COMPOSITION AT MARCH 31, 2026 — $30.4 BILLION 92% core deposits1 48% transactional accounts 1.90% Q1 2026 cost of deposits

26 GRANULAR DEPOSIT BASE CUSTOMER DEPOSIT GRANULARITY PERIOD END UNINSURED & UNCOLLATERALIZED DEPOSITS AS A PERCENTAGE OF TOTAL DEPOSITS ( $ M I LLI O N S ) $20,000 $22,000 $22,000 $98,000 $117,000 $118,000 Q1 2025 Q4 2025 Q1 2026 Retail Avg. Deposits Acct Size Business Avg. Deposits Acct Size 30% 32% 32% 31% 32% $6,060 $9,907 $9,802 $9,551 $9,608 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026

27 Cash and Cash Equivalents (unrestricted) $943 Unencumbered Securities $2,150 FHLB Borrowing Capacity $5,628 Fed Funds Lines $1,410 Discount Window $2,418 Secondary Sources* $2,454 AUB LIQUIDITY POSITION * Includes brokered deposits and other sources of liquidity Figures may not foot due to rounding Liquidity Sources Total $15.0 billion At March 31, 2026 TOTAL LIQUIDITY SOURCES OF $15.0 BILLION ~156% Liquidity Coverage Ratio of Uninsured/Uncollateralized Deposits of $9.6 billion ($ MILLIONS)

28 SECURITIES PORTFOLIO • Total securities portfolio of $4.9 billion with a total unrealized loss of $357.5 million – 83% of total portfolio book value in available-for-sale (“AFS”) at an unrealized loss of $322.1 million – 17% of total portfolio book value designated as held-to-maturity with an unrealized loss of $35.4 million – 15% floating rate versus 85% fixed rate • Total effective duration of approximately 3.9 years. Securities portfolio is used defensively to neutralize overall asset sensitive interest rate risk profile • ~26% municipals, ~72% treasuries, agency MBS/CMOs and ~2% corporates and other investments • Securities to total assets of 13.1% as of March 31, 2026, down from 13.5% as of December 31, 2025 $3,305 $5,079 $4,882 1Q 2025 4Q 2025 1Q 2026 4.07% Yield 4.09% Yield 4.08% Yield INVESTMENT SECURITIES BALANCES Total AFS (fair value) and HTM (carrying value) At March 31, 2026 ( $ M I LLI O N S )

29 RECONCILIATION OF NON-GAAP DISCLOSURES We have provided supplemental performance measures determined by methods other than in accordance with GAAP. These non-GAAP financial measures are a supplement to GAAP, which we use to prepare our financial statements, and should not be considered in isolation or as a substitute for comparable measures calculated in accordance with GAAP. In addition, our non-GAAP financial measures may not be comparable to non-GAAP financial measures of other companies. We use the non-GAAP financial measures discussed herein in our analysis of our performance. Management believes that these non-GAAP financial measures provide additional understanding of ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented without the impact of items or events that may obscure trends in our underlying performance or show the potential effects of accumulated other comprehensive income or unrealized losses on held to maturity securities on our capital.

30 RECONCILIATION OF NON-GAAP DISCLOSURES Adjusted operating measures exclude, as applicable, merger-related costs, gain on sale of equity interest in Cary Street Partners (“CSP”), and gain on sale of securities. The Company believes these non-GAAP adjusted measures provide investors with important information about the continuing economic results of the Company’s operations. The Company believes net interest income (FTE), total revenue (FTE), and total adjusted revenue (FTE), which are used in computing net interest margin (FTE), efficiency ratio (FTE) and adjusted operating efficiency ratio (FTE), provide valuable additional insight into the net interest margin and the efficiency ratio by adjusting for differences in tax treatment of interest income sources. The entire FTE adjustment is attributable to interest income on earning assets, which is used in computing the yield on earning assets. Interest expense and the related cost of interest-bearing liabilities and cost of funds ratios are not affected by the FTE components. The adjusted operating efficiency ratio (FTE) excludes, as applicable, the amortization of intangible assets, merger-related costs, gain on sale of securities, and gain on sale of equity interest in CSP. This measure is similar to the measure used by the Company when analyzing corporate performance and is also similar to the measure used for incentive compensation. The Company believes this adjusted measure provides investors with important information about the continuing economic results of the Company’s operations. ADJUSTED OPERATING EARNINGS AND EFFICIENCY RATIO (Dollars in thousands, except per share amounts) For the three months ended March 31, 2026 December 31, 2025 Operating Measures Net Income (GAAP) $ 122,165 $ 111,966 Plus: Merger-related costs, net of tax 6,956 29,742 Less: Gain on sale of equity interest in CSP, net of tax — 340 Less: Gain on sale of securities, net of tax 2 2 Adjusted operating earnings (non-GAAP) $ 129,119 $ 141,366 Less: Dividends on preferred stock 2,967 2,967 Adjusted operating earnings available to common shareholders (non-GAAP) $ 126,152 $ 138,399 Weighted average common shares outstanding, diluted 142,280,978 142,118,797 EPS available to common shareholders, diluted (GAAP) $ 0.84 $ 0.77 Adjusted operating EPS available to common shareholders (non-GAAP) $ 0.89 $ 0.97 Operating Efficiency Ratio Noninterest expense (GAAP) $ 209,810 $ 243,243 Less: Amortization of intangible assets 15,446 17,692 Less: Merger-related costs 9,034 38,626 Adjusted operating noninterest expense (non-GAAP) $ 185,330 $ 186,925 Noninterest income (GAAP) $ 54,783 $ 57,000 Less: Gain on sale of securities 2 2 Less: Gain on sale of equity interest in CSP — 457 Adjusted operating noninterest income (non-GAAP) $ 54,781 $ 56,541 Net interest income (GAAP) $ 312,373 $ 330,168 Noninterest income (GAAP) 54,783 57,000 Total revenue (GAAP) $ 367,156 $ 387,168 Net interest income (FTE) (non-GAAP) $ 316,923 $ 334,789 Adjusted operating noninterest income (non-GAAP) 54,781 56,541 Total adjusted revenue (FTE) (non-GAAP) $ 371,704 $ 391,330 Efficiency ratio (GAAP) 57.14% 62.83% Efficiency ratio FTE (non-GAAP) 56.45% 62.09% Adjusted operating efficiency ratio (FTE) (non-GAAP) 49.86% 47.77%

31 RECONCILIATION OF NON-GAAP DISCLOSURES The Company believes net interest income (FTE), interest income (FTE), investment income (FTE), total revenue (FTE), earning asset income (FTE), total adjusted revenue (FTE), which are used in computing net interest margin (FTE), core net interest margin (FTE), loan yield (FTE), investment yield (FTE), earning asset yield (FTE), efficiency ratio (FTE) and adjusted operating efficiency ratio (FTE), provide valuable additional insight into the net interest margin, loan yield, investment yield, earning asset yield, and the efficiency ratio by adjusting for differences in tax treatment of interest income sources. The entire FTE adjustment is attributable to interest income on earning assets, which is used in computing the yield on earning assets. Interest expense and the related cost of interest-bearing liabilities and cost of funds ratios are not affected by the FTE components. NET INTEREST MARGIN, LOAN YIELD, INVESTMENT YIELD AND EARNING ASSET YIELD (Dollars in thousands) For the three months ended March 31, 2026 December 31, 2025 Net interest income (GAAP) $ 312,373 $ 330,168 FTE adjustment 4,550 4,621 Net interest income (FTE) (non-GAAP) $ 316,923 $ 334,789 Noninterest income (GAAP) 54,783 57,000 Total revenue (FTE) (non-GAAP) $ 371,706 $ 391,789 Net interest income (FTE) (non-GAAP) $ 316,923 $ 334,789 Purchase accounting adjustments 32,714 45,960 Core net interest income (FTE) (non-GAAP) $ 284,209 $ 288,829 Average earning assets $ 33,377,790 $ 33,555,065 Net interest margin (GAAP) 3.80% 3.90% Net interest margin (FTE) (non-GAAP) 3.85% 3.96% Core net interest margin (FTE) (non-GAAP) 3.45% 3.41% Loan interest income (GAAP) $ 419,129 $ 443,056 FTE adjustment 2,170 2,240 Loan interest income (FTE) (non-GAAP) $ 421,299 $ 445,296 Average LHFI $ 27,830,037 $ 27,433,274 Loan yield (GAAP) 6.11% 6.41% Loan yield (FTE) (non-GAAP) 6.14% 6.44% Investment interest income (GAAP) $ 49,961 $ 51,994 FTE adjustment 2,380 2,381 Investment interest income (FTE) (non-GAAP) $ 52,341 $ 54,375 Average securities $ 5,207,502 $ 5,269,097 Investment yield (GAAP) 3.89% 3.91% Investment yield (FTE) (non-GAAP) 4.08% 4.09% Total earning assets interest income (GAAP) $ 471,735 $ 501,842 FTE adjustment 4,550 4,621 Total earning assets interest income (FTE) (non-GAAP) $ 476,285 $ 506,463 Average earning assets $ 33,377,790 $ 33,555,065 Earning assets yield (GAAP) 5.73% 5.93% Earning assets yield (FTE) (non-GAAP) 5.79% 5.99%

32 RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy because they provide a meaningful base for period-to-period and company-to-company comparisons, which the Company believes will assist investors in assessing the capital of the Company and its ability to absorb potential losses. The Company believes tangible common equity is an important indication of its ability to grow organically and through business combinations, as well as its ability to pay dividends and to engage in various capital management strategies. The Company also calculates adjusted tangible common equity to tangible assets ratios to exclude AOCI, which is principally comprised of unrealized losses on AFS securities, and to include the impact of unrealized losses on HTM securities. The Company believes that each of these ratios enables investors to assess the Company's capital levels and capital adequacy without the effects of changes in AOCI, some of which are uncertain and difficult to predict, or assuming that the Company realized all previously unrealized losses on HTM securities at the end of the period, as applicable. TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO (Dollars in thousands, except per share amounts) As of March 31, 2026 As of December 31, 2025 Atlantic Union Atlantic Union Atlantic Union Atlantic Union Bankshares Bank Bankshares Bank Tangible Assets Ending Assets (GAAP) $ 37,315,011 $ 37,224,225 $ 37,585,754 $ 37,497,857 Less: Ending goodwill 1,754,875 1,754,875 1,733,287 1,733,287 Less: Ending amortizable intangibles 300,099 300,099 315,544 315,544 Ending tangible assets (non-GAAP) $ 35,260,037 $ 35,169,251 $ 35,536,923 $ 35,449,026 Tangible Common Equity Ending equity (GAAP) $ 5,052,316 $ 5,759,867 $ 5,006,398 $ 5,716,082 Less: Ending goodwill 1,754,875 1,754,875 1,733,287 1,733,287 Less: Ending amortizable intangibles 300,099 300,099 315,544 315,544 Less: Perpetual preferred stock 166,357 — 166,357 — Ending tangible common equity (non-GAAP) $ 2,830,985 $ 3,704,893 $ 2,791,210 $ 3,667,251 Net unrealized losses on HTM securities, net of tax $ (35,456) $ (35,456) $ (27,404) $ (27,404) Accumulated other comprehensive loss (AOCI) $ (278,488) $ (278,514) $ (256,087) $ (256,132) Common shares outstanding at end of period 142,060,496 141,776,886 Average equity (GAAP) $ 5,068,069 $ 5,759,823 $ 4,950,858 $ 5,644,166 Less: Average goodwill 1,733,527 1,733,527 1,726,933 1,726,933 Less: Average amortizable intangibles 307,636 307,636 324,099 324,099 Less: Average perpetual preferred stock 166,356 — 166,356 — Average tangible common equity (non-GAAP) $ 2,860,550 $ 3,718,660 $ 2,733,470 $ 3,593,134 Book value per common share (GAAP) $ 34.39 $ 34.14 Tangible book value per common share (non-GAAP) $ 19.93 $ 19.69 Tangible book value per common share, ex AOCI (non-GAAP) $ 21.89 $ 21.49

33 RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy because they provide a meaningful base for period-to-period and company-to-company comparisons, which the Company believes will assist investors in assessing the capital of the Company and its ability to absorb potential losses. The Company believes tangible common equity is an important indication of its ability to grow organically and through business combinations, as well as its ability to pay dividends and to engage in various capital management strategies. The Company also calculates adjusted tangible common equity to tangible assets ratios to exclude AOCI, which is principally comprised of unrealized losses on AFS securities, and to include the impact of unrealized losses on HTM securities. The Company believes that each of these ratios enables investors to assess the Company's capital levels and capital adequacy without the effects of changes in AOCI, some of which are uncertain and difficult to predict, or assuming that the Company realized all previously unrealized losses on HTM securities at the end of the period, as applicable. TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO (Dollars in thousands, except per share amounts) As of March 31, 2026 Atlantic Union Atlantic Union Bankshares Bank Common equity to total assets (GAAP) 13.1% 15.5% Tangible equity to tangible assets (non-GAAP) 8.5% 10.5% Tangible equity to tangible assets, incl net unrealized losses on HTM securities (non-GAAP) 8.4% 10.4% Tangible common equity to tangible assets (non-GAAP) 8.0% 10.5% Tangible common equity to tangible assets, incl net unrealized losses on HTM securities (non-GAAP) 7.9% 10.4% Tangible common equity to tangible assets, ex AOCI (non-GAAP) 8.8% Leverage Ratio Tier 1 capital $ 3,298,944 $ 4,008,482 Total average assets for leverage ratio $ 35,442,183 $ 35,355,629 Leverage ratio 9.3% 11.3% Leverage ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 8.4% 10.4%

34 RECONCILIATION OF NON-GAAP DISCLOSURES All regulatory capital ratios at March 31, 2026 are estimates and subject to change pending the Company’s filing of its FR Y-9C. In addition to these regulatory capital ratios, the Company adjusts certain regulatory capital ratios to include the impacts of AOCI, which the Company has elected to exclude from regulatory capital ratios under applicable regulations, and net unrealized losses on HTM securities, assuming that those unrealized losses were realized at the end of the period, as applicable. The Company believes that each of these ratios help investors to assess the Company's regulatory capital levels and capital adequacy. RISK-BASED CAPITAL RATIOS (Dollars in thousands) As of March 31, 2026 Atlantic Union Bankshares Atlantic Union Bank Risk-Based Capital Ratios Net unrealized losses on HTM securities, net of tax $ (35,456) $ (35,456) Accumulated other comprehensive loss (AOCI) $ (278,488) $ (278,514) Common equity tier 1 capital $ 3,132,588 $ 4,008,482 Tier 1 capital $ 3,298,944 $ 4,008,482 Total capital $ 4,296,841 $ 4,304,139 Total risk-weighted assets $ 30,679,745 $ 30,591,461 Common equity tier 1 capital ratio 10.2% 13.1% Common equity tier 1 capital ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 9.2% 12.1% Tier 1 capital ratio 10.8% 13.1% Tier 1 capital ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 9.7% 12.1% Total capital ratio 14.0% 14.1% Total capital ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 13.0% 13.0%

35 RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy because they provide a meaningful base for period-to-period and company-to-company comparisons, which the Company believes will assist investors in assessing the capital of the Company and its ability to absorb potential losses. The Company believes tangible common equity is an important indication of its ability to grow organically and through business combinations as well as its ability to pay dividends and to engage in various capital management strategies. The Company believes that ROTCE is a meaningful supplement to GAAP financial measures and is useful to investors because it measures the performance of a business consistently across time without regard to whether components of the business were acquired or developed internally. Adjusted operating measures exclude, as applicable, merger-related costs, gain on sale of securities, gain on sale of equity interest in CSP and amortization of intangible assets. The Company believes these non-GAAP adjusted measures provide investors with important information about the continuing economic results of the Company’s operations. OPERATING MEASURES (Dollars in thousands) For the three months ended March 31, 2026 December 31, 2025 Return on average assets (ROA) Average assets (GAAP) $ 37,254,857 $ 37,356,117 ROA (GAAP) 1.33% 1.19% Adjusted operating ROA (non-GAAP) 1.41% 1.50% Return on average equity (ROE) Adjusted operating earnings available to common shareholders (non-GAAP) $ 126,152 $ 138,399 Plus: Amortization of intangibles, tax effected 12,202 13,977 Adjusted operating earnings available to common shareholders before amortization of intangibles (non-GAAP) $ 138,354 $ 152,376 Average equity (GAAP) $ 5,068,069 $ 4,950,858 Less: Average goodwill 1,733,527 1,726,933 Less: Average amortizable intangibles 307,636 324,099 Less: Average perpetual preferred stock 166,356 166,356 Average tangible common equity (non-GAAP) $ 2,860,550 $ 2,733,470 ROE (GAAP) 9.78% 8.97% Return on tangible common equity (ROTCE) Net Income available to common shareholders (GAAP) $ 119,198 $ 108,999 Plus: Amortization of intangibles, tax effected 12,202 13,977 Net Income available to common shareholders before amortization of intangibles (non-GAAP) $ 131,400 $ 122,976 ROTCE (non-GAAP) 18.63% 17.85% Adjusted operating ROTCE (non-GAAP) 19.62% 22.12%

36 RECONCILIATION OF NON-GAAP DISCLOSURES Adjusted operating pre-tax pre-provision earnings (FTE) excludes, as applicable, the provision for credit losses, which can fluctuate significantly from period-to-period under the CECL methodology, income tax expense, merger-related costs, gain on sale of securities, and gain on sale of equity interest in CSP. The Company believes this adjusted measure provides investors with important information about the continuing economic results of the Company’s operations. ADJUSTED OPERATING PRE-TAX PRE-PROVISION EARNINGS (FTE) (Dollars in thousands) For the three months ended March 31, 2026 December 31, 2025 Net income (GAAP) $ 122,165 $ 111,966 Plus: Provision for credit losses 2,737 2,211 Plus: Income tax expense 32,444 29,748 Plus: Merger-related costs 9,034 38,626 Plus: FTE adjustment 4,550 4,621 Less: Gain on sale of securities 2 2 Less: Gain on sale of equity interest in CSP — 457 Adjusted operating pre-tax pre-provision earnings (FTE) (non-GAAP) $ 170,928 $ 186,713

Source: View Original Filing on SEC EDGAR

FAQ

How did Atlantic Union Bankshares (AUB) perform financially in Q1 2026?

Atlantic Union Bankshares generated net income available to common shareholders of $119.2 million in Q1 2026, with diluted EPS of $0.84. This compares favorably to $108.999 million and $0.77 in the prior quarter and $46.851 million and $0.52 a year earlier.

What happened to Atlantic Union Bankshares’ net interest margin in Q1 2026?

The company’s net interest margin declined to 3.80% in Q1 2026 from 3.90% in Q4 2025. On a fully taxable equivalent basis, margin slipped to 3.85%, mainly due to lower yields on variable‑rate loans and reduced accretion income, partly offset by lower deposit costs.

How strong was Atlantic Union Bankshares’ asset quality as of March 31, 2026?

Asset quality remained sound, with nonperforming assets of $99.7 million, or 0.36% of total loans held for investment. Net charge-offs were just $1.6 million, or 0.02% of average loans annualized, and the allowance for credit losses was $321.9 million.

What were Atlantic Union Bankshares’ key capital ratios at March 31, 2026?

At March 31, 2026, Atlantic Union Bankshares reported a common equity Tier 1 ratio of 10.21%, a Tier 1 capital ratio of 10.75%, and a total capital ratio of 14.01%. Tangible common equity to tangible assets stood at 8.03%, indicating a solid capital position.

What were Atlantic Union Bankshares’ loan and deposit levels at March 31, 2026?

At March 31, 2026, loans held for investment were $27.95 billion, up modestly from $27.80 billion at year-end 2025. Total deposits were $30.39 billion, slightly below $30.47 billion, with brokered deposits declining as the company emphasized lower‑cost funding.

Filing Exhibits & Attachments

6 documents

Atlantic Union Bankshares (NYSE: AUB) lifts Q1 2026 earnings with strong credit quality

Rhea-AI Filing Summary

Positive

Negative

Insights

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did Atlantic Union Bankshares (AUB) perform financially in Q1 2026?

What happened to Atlantic Union Bankshares’ net interest margin in Q1 2026?

How strong was Atlantic Union Bankshares’ asset quality as of March 31, 2026?

What were Atlantic Union Bankshares’ key capital ratios at March 31, 2026?

What were Atlantic Union Bankshares’ loan and deposit levels at March 31, 2026?

Filing Exhibits & Attachments

Press Releases

Other Documents

Atlantic Union Bankshares (NYSE: AUB) lifts Q1 2026 earnings with strong credit quality

Rhea-AI Filing Summary

Positive

Negative

Insights

Bank equity analyst positive

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did Atlantic Union Bankshares (AUB) perform financially in Q1 2026?

What happened to Atlantic Union Bankshares’ net interest margin in Q1 2026?

How strong was Atlantic Union Bankshares’ asset quality as of March 31, 2026?

What were Atlantic Union Bankshares’ key capital ratios at March 31, 2026?

How did merger-related costs affect Atlantic Union Bankshares’ expenses in Q1 2026?

What were Atlantic Union Bankshares’ loan and deposit levels at March 31, 2026?

Filing Exhibits & Attachments

Press Releases

Other Documents