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 Corp (AUB) delivers community-focused banking services through its wholesale and consumer banking segments. This dedicated news hub offers investors and stakeholders immediate access to official press releases, financial disclosures, and strategic announcements from the Virginia-based financial holding company.
Discover timely updates on earnings reports, regulatory filings, leadership changes, and product innovations. The curated collection serves as a reliable resource for tracking AUB's market position, risk management practices, and community banking initiatives across the Mid-Atlantic region.
Content spans multiple critical categories including quarterly financial results, merger activity, wealth management developments, and regulatory compliance updates. Each entry provides direct access to primary source materials while maintaining strict editorial neutrality.
Bookmark this page for streamlined monitoring of AUB's operational milestones and financial performance. For comprehensive analysis of specific announcements, consult licensed financial professionals regarding market implications.
Atlantic Union Bankshares Corporation (NYSE: AUB) reported a net income of $32.7 million for Q1 2023, translating to earnings per share (EPS) of $0.44. Adjusted operating earnings were $47.2 million with an EPS of $0.63, excluding a $13.4 million loss from securities sales and a $5.0 million legal reserve. The company's balance sheet repositioning strategy involved selling $505.7 million in available-for-sale securities, intended to boost liquidity and enhance earnings potential over two years. Net interest income fell to $153.4 million, a decline attributed to market conditions. The nonperforming asset ratio rose to 0.20%, while net charge-offs increased to 0.13% of average loans. Despite these challenges, total assets were $20.1 billion, underpinned by strong loan growth of $1.1 billion year-over-year.
Atlantic Union Bankshares Corporation will announce its first quarter 2023 financial results before market opening on April 25, 2023. Following this, a conference call will take place at 9:00 a.m. Eastern Time, where investors can tune in to hear the details. The webcast will be available alongside accompanying slides on their website. Atlantic Union Bankshares is headquartered in Richmond, Virginia, and operates 109 branches across Virginia, Maryland, and North Carolina, offering various financial services.
SolaREIT has closed a $15 million revolving credit facility with Atlantic Union Bank (AUB), enhancing its liquidity for solar development financing. This facility complements SolaREIT's existing securitization partnership with Nuveen/TIAA CREF, enabling efficient land acquisition for community solar projects. President Laura Pagliarulo emphasized the need for financial flexibility in the solar sector, while John Lester from Atlantic Union Bank highlighted their commitment to supporting clean energy initiatives. SolaREIT, a minority and women-owned business based in Vienna, Virginia, focuses on financing solar land, aiming to contribute to a low-carbon economy.
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