Atlantic Union Bankshares Corporation (NYSE:AUB) Q4 2024 Earnings Conference Call January 23, 2025 9:00 AM ET Company Participants William Cimino - Senior Vice President of Investor Relations John Asbury - President and Chief Executive Officer Robert Gorman - Executive Vice President and Chief Financial Officer David Ring - Executive Vice President and Wholesale Banking Group Executive Shawn O’Brien - Executive VP & Consumer Banking Group Executive Douglas Woolley - Executive VP & Chief Credit Officer Confe ...

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Atlantic Union (AUB) reported $222.27 million in revenue for the quarter ended December 2024, representing a year-over-year increase of 18.7%. EPS of $0.67 for the same period compares to $0.78 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $221.07 million, representing a surprise of +0.54%. The company delivered an EPS surprise of -11.84%, with the consensus EPS estimate being $0.76.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

4th Quarter and Full Year 2024 Earnings Presentation NYSE: AUB January 23, 2025 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 on the slides entitled "Q4 2024 and Full Year 2024 Highlights" and "2025 AUB Standalone Financial Outlook," statements regarding the pending merger ...

Atlantic Union (AUB) came out with quarterly earnings of $0.67 per share, missing the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.78 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -11.84%. A quarter ago, it was expected that this holding company for Atlantic Union Bank would post earnings of $0.84 per share when it actually produced earnings of $0.83, delivering a surprise of -1.19%.Over the l ...

Financial Performance - For Q4 2024, Atlantic Union reported net income of $54.8 million, with adjusted operating earnings of $61.4 million, resulting in adjusted diluted earnings per share of $0.67[1][2] - For the full year 2024, net income available to common shareholders was $197.3 million, with adjusted operating earnings of $241.3 million, leading to adjusted diluted earnings per share of $2.74[2] - Net income available to common shareholders for the year ended December 31, 2024, was $197,263,000, compared to $189,950,000 in 2023, indicating a 4% increase[35] - Net income for the year ended December 31, 2024, was $209,131, compared to $201,818 for the previous year, representing a year-over-year increase of 3.1%[48] - The company reported a net income available to common shareholders (GAAP) of $54,818 thousand for the three months ended December 31, 2024, compared to $53,940 thousand for the same period in 2023, reflecting a modest increase of 1.6%[38] Asset and Liability Management - Total assets decreased to $24.6 billion as of December 31, 2024, a decline of approximately 3.5% from the prior quarter but an increase of 16.2% year-over-year[18] - Total assets as of December 31, 2024, were $24,585,323, a decrease from $24,803,723 as of September 30, 2024, and an increase from $21,166,197 as of December 31, 2023[47] - Total liabilities stood at $21,793,902 thousand, compared to $21,501,009 thousand in the prior quarter[49] - The company’s total stockholders' equity as of December 31, 2024, was $3,142,879, a decrease from $3,182,416 as of September 30, 2024, and an increase from $2,556,327 as of December 31, 2023[47] Loans and Credit Quality - Nonperforming assets (NPAs) as a percentage of total loans held for investment (LHFI) increased to 0.32% as of December 31, 2024, with NPAs totaling $58.4 million[7][8] - The allowance for credit losses (ACL) was $193.7 million at December 31, 2024, representing an increase of $16.1 million from the prior quarter[10][11] - The company recorded a provision for credit losses of $17.5 million in Q4 2024, significantly higher than $2.6 million in the previous quarter[13] - The ratio of NPAs to total LHFI increased to 0.32% as of December 31, 2024, from 0.24% a year earlier, indicating a decline in asset performance[37] - The allowance for loan and lease losses (ALLL) as a percentage of total LHFI was 0.97% as of December 31, 2024, compared to 0.85% a year earlier, showing an improvement in asset quality[37] Income and Expenses - Noninterest income rose to $35.2 million in Q4 2024, driven by an increase in loan-related interest rate swap fees[14] - Noninterest expense increased to $129.7 million in Q4 2024, primarily due to merger-related costs associated with the Sandy Spring acquisition[15][16] - Total noninterest expenses for the year ended December 31, 2024, were $507,534, compared to $430,371 in the previous year, indicating an increase of 17.9%[48] - The efficiency ratio (FTE) improved to 59.35% in Q4 2024 from 62.09% in Q4 2023, showing enhanced operational efficiency[35] - The efficiency ratio for Q4 2024 was 59.35%, compared to 56.43% in Q3 2024 and 58.82% in Q4 2023, indicating a decline in operational efficiency[39] Capital and Dividends - The Common equity Tier 1 capital ratio was 9.96% as of December 31, 2024, up from 9.77% in the prior quarter and 9.84% a year earlier[24] - The Company declared a cash dividend of $0.34 per common share, a $0.02 increase or approximately 6.3% from both the prior quarter and the same quarter last year[26] - The company’s ending tangible common equity (non-GAAP) as of December 31, 2024, was $1,677,906 thousand, up from $1,445,576 thousand in the previous year, indicating a growth of 16.0%[38] Growth and Acquisitions - The company completed the acquisition of American National Bankshares Inc. on April 1, 2024, and announced the proposed acquisition of Sandy Spring Bancorp, Inc. on October 21, 2024[3] - The increase in LHFI from the prior year was primarily due to the American National acquisition[20] - The increase in total deposits from the prior year was related to the addition of the American National acquired deposits[22] Market and Economic Indicators - Interest and dividend income for Q4 2024 was $319,204,000, compared to $259,497,000 in Q4 2023, representing a 23% increase year-over-year[35] - The cost of deposits increased to 2.48% in Q4 2024 from 2.23% in Q4 2023, indicating rising funding costs[35] - The total allowance for credit losses (ACL) increased to $193,685 thousand as of December 31, 2024, compared to $177,628 thousand a year earlier, reflecting a growth of 9.5%[37] Operational Metrics - Average assets for the year were $24,971,836 thousand, compared to $20,853,306 thousand in the previous year, reflecting a growth of 19.8%[36] - The leverage ratio (Tier 1 capital to average assets) is at 9.29%, down from 9.63% a year earlier[36] - The return on average assets (ROA) for Q4 2024 was 0.92%, compared to 1.08% in Q4 2023, reflecting a decline in profitability[35]

In its upcoming report, Atlantic Union (AUB) is predicted by Wall Street analysts to post quarterly earnings of $0.76 per share, reflecting a decline of 2.6% compared to the same period last year. Revenues are forecasted to be $221.07 million, representing a year-over-year increase of 18.1%.The consensus EPS estimate for the quarter has undergone a downward revision of 6.1% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their ini ...

The market expects Atlantic Union (AUB) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be relea ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-39325 ATLANTIC UNION BANKSHARES CORPORATION (Exact name of registrant as specified in its charter) Virginia 54-1598552 (State or other jurisdiction of ...

One name that we continue to like in the regional banking space and are upgrading on its just reported earnings is Atlantic Union Bankshares Corporation (NYSE: AUB ). While the interest rate situation ofPay yourself dividends with outsized returnsGet more with our playbook to significantly grow your wealth by embracing a blended trading and investing approach at our one-stop shop.Our prices go up November 1st, but right now we have a big sale on the current price. Join NOW and you can lock in 75% of savings ...