Welcome to our dedicated page for Atlantic Un Bankshares news (Ticker: AUB), a resource for investors and traders seeking the latest updates and insights on Atlantic Un Bankshares stock.
Atlantic Union Bankshares Corporation (NYSE: AUB) is a Virginia-incorporated financial holding company and bank holding company for Atlantic Union Bank, a full-service community bank headquartered in Richmond, Virginia. The AUB news feed highlights how the company executes its commercial banking strategy across its Wholesale Banking and Consumer Banking segments.
News coverage for Atlantic Union Bankshares often includes quarterly and annual financial results, where the company reports net income, net interest income, net interest margin, asset quality metrics, and allowance for credit losses. These releases also describe the impact of acquisitions, such as the Sandy Spring Bancorp, Inc. transaction, on loans, deposits, and total assets, as well as portfolio actions like commercial real estate loan sales.
Investors following AUB can also expect dividend announcements on the company’s common stock and Series A perpetual non-cumulative preferred stock, disclosed through press releases and Form 8-K filings. The news flow frequently includes information about quarterly dividend amounts, record dates, and payment dates.
Another recurring theme in AUB news is strategic and investor communications. The company announces upcoming earnings conference calls and webcasts, provides details for analyst participation, and furnishes presentations used in investor meetings. It also hosts investor days at venues such as the New York Stock Exchange, where executives present strategic priorities, financial outlooks, and medium-term financial targets.
Sector-specific items in the AUB news stream can feature commercial banking transactions, such as Atlantic Union Bank serving as sole book runner and administrative agent on a revolving credit facility for a renewable energy real estate investment company. These stories illustrate the bank’s role in structuring and syndicating credit facilities for specialized borrowers.
By monitoring the AUB news page, readers can track financial performance updates, dividend decisions, acquisition integration milestones, and significant lending and capital markets activities that shape Atlantic Union Bankshares’ position as a regional commercial bank holding company.
Atlantic Union Bankshares has announced its quarterly dividend declarations. The company will pay a common stock dividend of $0.34 per share, maintaining the same level as Q4 2024 and representing a 6% increase from Q1 2024. Based on the January 30, 2025 closing price of $37.41, this translates to a 3.6% dividend yield. The payment is scheduled for February 28, 2025, with a record date of February 14, 2025.
Additionally, the company declared a quarterly dividend on its Series A preferred stock of $171.88 per share ($0.43 per depositary share), payable on March 3, 2025, to holders of record as of February 14, 2025.
Atlantic Union Bankshares (NYSE: AUB) reported Q4 2024 net income of $54.8 million with basic and diluted EPS of $0.61 and $0.60, respectively. For the full year 2024, net income was $197.3 million with basic and diluted EPS of $2.29 and $2.24.
Q4 2024 highlights include net interest income of $183.2 million, a slight increase from Q3. The net interest margin decreased 5 basis points to 3.26% due to lower yields on earning assets. The company recorded a provision for credit losses of $17.5 million, up from $2.6 million in Q3, primarily due to a $13.1 million specific reserve on an impaired commercial loan.
Total assets were $24.6 billion at year-end, with loans held for investment increasing by $133.3 million to $18.5 billion. Total deposits grew to $20.4 billion, up $92.3 million from Q3. The company maintained strong capital ratios with a Common equity Tier 1 ratio of 9.96%.
Atlantic Union Bankshares (NYSE: AUB) and Sandy Spring Bancorp (NASDAQ: SASR) have received regulatory approvals from the Federal Reserve Bank of Richmond for their previously announced all-stock merger. The merger plan involves Sandy Spring merging into Atlantic Union, followed by Sandy Spring Bank merging into Atlantic Union Bank.
The transaction still requires approvals from the Virginia Bureau of Financial Institutions, Maryland Office of Financial Regulation, and shareholders of both companies. Special shareholder meetings are scheduled for February 5, 2025.
Atlantic Union Bankshares has announced it will release its fourth quarter and full year 2024 financial results before market opens on Thursday, January 23, 2025. The company will host a conference call and webcast for investors at 9:00 a.m. Eastern Time on the same day.
The company will provide a listen-only webcast with accompanying slides, accessible through their provided media server link. Analysts wishing to participate in the conference call must register separately to receive dial-in numbers and access PIN. A replay of the webcast and slides will be available on Atlantic Union's investor relations website for 90 days.
Atlantic Union Bankshares has announced a quarterly dividend increase of $0.34 per common share, representing a 6% increase from both the third quarter of 2024 and fourth quarter of 2023. Based on the October 24, 2024 closing price of $37.10, the dividend yield is approximately 3.7%. The common stock dividend will be paid on November 22, 2024, to shareholders of record as of November 8, 2024.
Additionally, the company declared a quarterly dividend of $171.88 per share on its Series A preferred stock (equivalent to $0.43 per depositary share), payable on December 2, 2024, to holders of record as of November 15, 2024.
Atlantic Union Bankshares (NYSE: AUB) and Sandy Spring Bancorp (Nasdaq: SASR) have announced a definitive merger agreement for Atlantic Union to acquire Sandy Spring in an all-stock transaction valued at approximately $1.6 billion. This merger will create the largest regional bank headquartered in the lower Mid-Atlantic, significantly enhancing the combined company's presence in Northern Virginia and Maryland.
The combined entity will have pro forma total assets of $39.2 billion, total deposits of $32.0 billion, and gross loans of $29.8 billion, based on financial data as of September 30, 2024. The transaction will add 53 branch locations and approximately double Atlantic Union's wealth business by increasing assets under management by more than $6.5 billion.
Under the agreement terms, each Sandy Spring common stock share will be converted into 0.900 shares of Atlantic Union common stock. The transaction is expected to close by the end of the third quarter of 2025, subject to regulatory approvals and shareholder approval from both companies.
Atlantic Union Bankshares (NYSE: AUB) has announced the pricing of an underwritten public offering of 9,859,155 shares of its common stock at $35.50 per share, for an aggregate offering amount of $350.0 million. The net proceeds are expected to be approximately $336.0 million. The offering is set to close on October 22, 2024.
In connection with the offering, Atlantic Union entered into a forward sale agreement with Morgan Stanley & Co. The company expects to physically settle the agreement within approximately 18 months from the date of announcement. Atlantic Union intends to use the net proceeds for general corporate purposes, including potentially contributing Tier 1 capital into Atlantic Union Bank.
Atlantic Union Bankshares reported net income of $73.4 million and earnings per share of $0.82 for Q3 2024. The company's net interest income decreased to $182.9 million, down $1.6 million from Q2 2024. The net interest margin decreased by 8 basis points to 3.31%. Nonperforming assets remained stable at 0.20% of total loans. The allowance for credit losses increased to $177.6 million. Noninterest income rose by $10.5 million to $34.3 million, while noninterest expense decreased by $27.4 million to $122.6 million. Total assets grew to $24.8 billion, a 19.6% increase year-over-year. Loans held for investment totaled $18.3 billion, up 20% from the previous year. Total deposits increased to $20.3 billion, a 21% rise year-over-year. The company maintained strong capital ratios, with a common equity Tier 1 capital ratio of 9.77%.
Atlantic Union Bankshares (AUB) has announced the release of its third quarter 2024 financial results. The results will be made public before the market opens on Tuesday, October 22, 2024. Following this, the company will host a conference call and webcast for investors at 9:00 a.m. Eastern Time on the same day.
Investors can access the listen-only webcast and accompanying slides through a provided link. Analysts wishing to participate in the conference call are required to register separately. A replay of the webcast and slides will be available on the company's website for 90 days after the event.
Atlantic Union Bankshares (AUB) has announced its quarterly dividend declarations. The Board of Directors declared a common stock dividend of $0.32 per share, unchanged from the previous quarter but representing a 7% increase from Q3 2023. Based on the closing price of $40.36 on July 25, 2024, this translates to a dividend yield of approximately 3.2%. The common stock dividend is payable on August 23, 2024, to shareholders of record as of August 9, 2024.
Additionally, the company declared a quarterly dividend on its 6.875% Perpetual Non-Cumulative Preferred Stock, Series A. The preferred stock dividend amounts to $171.88 per share (equivalent to $0.43 per depositary share) and is payable on September 3, 2024, to holders of record as of August 19, 2024.