Atlantic Union Bank (NYSE: AUB) outlines 2027 retirement of chief credit officer

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Atlantic Union Bankshares Corporation announced that Doug Woolley, executive vice president and chief credit officer of Atlantic Union Bank, plans to retire effective April 1, 2027. He will remain in his role until either a successor is appointed or he retires.

Woolley, age 68, has been with the bank for more than 21 years and has served as chief credit officer since 2016, helping maintain strong credit discipline and risk management. The bank has engaged an executive search firm and begun a nationwide search, considering both internal and external candidates to ensure an orderly transition.

8-K Event Classification

2 items: 7.01, 9.01

2 items

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

Retirement effective date: April 1, 2027 Executive age: 68 Tenure at bank: More than 21 years +2 more

5 metrics

Retirement effective date April 1, 2027 Planned retirement date for chief credit officer

Executive age 68 Age of Doug Woolley at time of announcement

Tenure at bank More than 21 years Woolley’s service at Atlantic Union Bank

Chief credit officer since 2016 Start year of Woolley’s chief credit officer role

Preferred dividend rate 6.875% Rate on Series A perpetual non-cumulative preferred stock

Key Terms

Regulation FD Disclosure, chief credit officer, risk management, credit discipline, +1 more

5 terms

Regulation FD Disclosure regulatory

"Item 7.01 Regulation FD Disclosure."

Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.

chief credit officer financial

"executive vice president and chief credit officer, plans to retire"

risk management financial

"ensuring a consistent focus on sound risk management and credit quality"

Risk management is the ongoing process of identifying potential events or conditions that could reduce an investment’s value, measuring how likely and how severe those losses could be, and putting controls in place to limit harm—like spreading money across different assets, setting loss limits, or buying insurance. For investors it matters because it turns uncertainty into a manageable plan, helping preserve capital and steady returns much like a seatbelt or a spare tire reduces the downside of unexpected problems.

credit discipline financial

"maintaining the bank’s longstanding commitment to strong credit discipline"

non-cumulative preferred stock financial

"6.875% Perpetual Non-Cumulative Preferred Stock, Series A"

Preferred stock that pays a fixed dividend but does not require the company to make up missed payments later; if a dividend is skipped, shareholders lose that income permanently rather than accumulating a balance the company must repay. Investors care because this structure offers higher priority than common shares for payouts but less protection for dividend income, so it’s a trade-off between steady yield and the risk of permanent missed payments.

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Understanding 8-K Material Events →

06/03/2026 - 07:00 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): June 3, 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 7.01 Regulation FD Disclosure.

On June 3, 2026, Atlantic Union Bank (“Atlantic Union”) announced that Doug Woolley, executive vice president and chief credit officer, plans to retire effective April 1, 2027. Woolley will continue to serve in his current role until the earlier of his successor’s appointment or the date of his retirement. Atlantic Union has initiated a nationwide search for a successor, engaging a leading executive search firm to help identify both internal and external candidates. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.		Description of Exhibit
99.1		Press release dated June 3, 2026
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: June 3, 2026	By:	/s/ Alexander D. Dodd
		Alexander D. Dodd
		Executive Vice President and
		Chief Financial Officer

Exhibit 99.1

Atlantic Union Bank Announces Planned Retirement of Doug Woolley

RICHMOND, Va., June 3, 2026 — Atlantic Union Bank today announced that Doug Woolley, executive vice president and chief credit officer, plans to retire effective April 1, 2027. Woolley will continue to serve in his current role until the earlier of his successor’s appointment or the date of his retirement.

Woolley (68) has been with Atlantic Union Bank for more than 21 years and has served as chief credit officer since 2016. During his tenure, he has played an important role in maintaining the bank’s longstanding commitment to strong credit discipline, supporting its growth, and ensuring a consistent focus on sound risk management and credit quality. “Doug has been a valued member of our executive team and a trusted leader across Atlantic Union Bank,” said John C. Asbury, chief executive officer of Atlantic Union Bank. “Over the course of his career with the bank, he has helped build a strong credit culture and has provided steady leadership and sound judgment through periods of significant growth and change. We are grateful for his many contributions and wish him all the best upon his retirement.”

Atlantic Union Bank has engaged an executive search firm and initiated a nationwide search to identify a successor, including consideration of both internal and external candidates.

“It has been a privilege to be part of Atlantic Union Bank for more than two decades,” said Woolley. “I am proud of what we have accomplished together and grateful for the opportunity to work alongside such a talented group of teammates. I look forward to supporting a smooth transition in the months ahead.”

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.

###

Contact:

Bill Cimino, Senior Vice President and Head of Investor Relations 804.448.0937

Beth Shivak, Senior Vice President and Head of Corporate Communications 804.327.5746

Source: View Original Filing on SEC EDGAR

FAQ

What leadership change did Atlantic Union Bankshares (AUB) announce?

Atlantic Union Bankshares announced that Doug Woolley, executive vice president and chief credit officer, plans to retire effective April 1, 2027. He will continue serving until a successor is appointed or his retirement date, supporting continuity in the bank’s credit leadership during the transition period.

When will Atlantic Union Bank’s chief credit officer Doug Woolley retire?

Doug Woolley plans to retire effective April 1, 2027. Until then, he will continue as executive vice president and chief credit officer, remaining in his position until the earlier of his successor’s appointment or his formal retirement to help ensure a smooth leadership transition.

How long has Doug Woolley served at Atlantic Union Bank (AUB)?

Doug Woolley has been with Atlantic Union Bank for more than 21 years. He has served as chief credit officer since 2016, playing a key role in maintaining strong credit discipline, supporting the bank’s growth, and emphasizing sound risk management and credit quality over his tenure.

How is Atlantic Union Bank (AUB) finding a successor for the chief credit officer?

Atlantic Union Bank has engaged an executive search firm and initiated a nationwide search for Doug Woolley’s successor. The process will consider both internal and external candidates, aiming to identify a qualified leader to continue the bank’s focus on disciplined credit and risk management.

What role does Doug Woolley have at Atlantic Union Bank before retirement?

Before retirement, Doug Woolley serves as executive vice president and chief credit officer at Atlantic Union Bank. He oversees credit discipline and risk management, and will remain in this role until a successor is appointed or April 1, 2027, to maintain leadership stability during the transition.

Where is Atlantic Union Bankshares Corporation (AUB) headquartered and where does it operate?

Atlantic Union Bankshares Corporation is headquartered in Richmond, Virginia. Its banking subsidiary, Atlantic Union Bank, operates branches and ATMs in Virginia, Maryland, North Carolina and Washington D.C., complemented by non-bank affiliates providing equipment finance, investment services and capital markets capabilities across its footprint.

Filing Exhibits & Attachments

5 documents

Press Releases

EX-99.1 EX-99.1 7.1 KB