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.
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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.
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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.
The Board of Directors of Atlantic Union Bankshares Corporation has declared a quarterly dividend of