Core Viewpoint - SolaREIT has expanded its revolving credit facility to $60 million, marking the third increase in less than two years, indicating strong market confidence in its business model and the growing demand for solar and storage land financing solutions [1][2]. Company Overview - SolaREIT is a renewable energy real estate investment company based in Virginia, focused on providing financing solutions for solar and battery energy storage developers. It was founded in 2020 and is a minority and women-owned business [4]. Financial Expansion - The recent expansion of the credit facility was facilitated by Atlantic Union Bank and EagleBank, reflecting the financial community's confidence in SolaREIT's business model and its ability to support clean energy projects [2][3]. - The facility provides SolaREIT with additional capital to meet the increasing demand from solar and battery energy storage developers, allowing the company to scale its support for projects across the country [2][3]. Market Demand - There is a robust demand for solar and storage land financing, as highlighted by the third upsize of SolaREIT's credit facility, which demonstrates the company's excellent execution in the market [2][3]. - SolaREIT's innovative financing solutions help developers and landowners maximize the value of their real estate assets while advancing clean energy deployment [2][3]. Partnerships - The partnership with Atlantic Union Bank and EagleBank is crucial for providing flexible financing solutions to clean energy developers, which is essential as the clean energy transition accelerates [3].

Regulatory Compliance - The Bank incurred deposit insurance assessment expenses of $18.3 million in 2024, up from $18.0 million in 2023 and $8.3 million in 2022, reflecting the impact of the FDIC's special assessment[133]. - The FDIC approved a special assessment at an annual rate of approximately 13.4 basis points, expected to be collected over eight quarterly periods starting in 2024, with the first payment due on June 28, 2024[132]. - The Bank is subject to the Bank Secrecy Act and must implement anti-money laundering compliance programs to prevent money laundering and terrorism financing[143]. - The Bank's compliance with consumer protection laws is critical, as failure to comply may result in penalties or delays in regulatory approvals for mergers or acquisitions[148]. - The CFPB issued a final rule on December 12, 2024, amending Regulation E and Regulation Z, which will impact overdraft services offered by financial institutions with over $10 billion in assets[151]. - The CFPB's final rule requires financial institutions to provide consumers with 24 months of transactional data and account information starting April 1, 2026, with subsequent deadlines based on asset size[152]. - The company is actively monitoring the legal challenges to the Corporate Transparency Act and its implications for compliance[145]. - The final rule to modernize CRA regulations will be applicable starting January 1, 2026, with certain data reporting requirements effective from January 1, 2027[141]. Financial Performance - For 2024, net income available to common shareholders was $197.3 million, representing a 3.8% increase from $190.0 million in 2023, with basic and diluted EPS of $2.29 and $2.24, respectively[381]. - Total assets increased by $3.4 billion or 16.2% to $24.6 billion at December 31, 2024, primarily due to the acquisition of American National[381]. - Total deposits rose by $3.6 billion or 21.3% to $20.4 billion at December 31, 2024, driven by increases in interest-bearing customer deposits and demand deposits[381]. - Net interest income for 2024 totaled $698.5 million, an increase of $87.5 million or 14.3% from 2023, attributed to higher interest-earning assets and yields[384]. - Noninterest income increased by $28.0 million or 30.8% to $118.9 million for 2024, primarily due to a decrease in loss on the sale of AFS securities[385]. - Noninterest expense increased by $77.1 million or 17.9% to $507.5 million for 2024, primarily due to merger-related costs and increases in salaries and benefits[386]. - The company reported a $25.2 million decrease in other operating income in 2024, primarily due to a $29.6 million gain recognized in 2023 related to sale-leaseback transactions[403]. - The company declared and paid cash dividends of $1.30 per common share in 2024, an increase of $0.08 per share or 6.6% over 2023[438]. Acquisition Impact - The acquisition of American National contributed to an initial provision expense of $13.2 million on non-PCD loans, impacting the provision for credit losses which totaled $50.1 million for 2024[381]. - The company entered into a merger agreement with Sandy Spring Bancorp, expected to close on April 1, 2025, with Sandy Spring having total assets of approximately $14.1 billion[373]. - The company recorded an initial provision expense of $13.2 million on non-PCD loans related to the American National acquisition in the second quarter of 2024[470]. - The company experienced a $19.0 million decrease in other expenses in 2024, primarily due to expenses in 2023 associated with strategic cost-saving initiatives[409]. - Wholesale Banking segment's income before income taxes increased by $78.4 million to $187.7 million for 2024, compared to $109.3 million for 2023, primarily due to increased net interest income from the American National acquisition[417]. - Consumer Banking segment's income before income taxes increased by $20.8 million to $100.2 million for 2024, compared to $79.4 million for 2023, driven by higher net interest income from the American National acquisition[422]. Loan and Deposit Growth - Loans held for investment (LHFI) increased by $2.8 billion or 18.1% to $18.5 billion at December 31, 2024, reflecting strong loan growth[432]. - Total deposits reached $20.4 billion, an increase of $3.6 billion or 21.3% compared to December 31, 2023[476]. - Total deposits in the Wholesale Banking segment increased by $790.0 million or 12.3% to $7.2 billion at December 31, 2024, primarily due to the American National acquisition[420]. - Total deposits in the Consumer Banking segment increased by $2.1 billion or 21.2% to $11.9 billion at December 31, 2024, with growth across all deposit categories[425]. - Average deposits rose to $19.5 billion, an increase of $2.9 billion or 17.3% from December 31, 2023[498]. Asset Management and Capital - Common equity Tier 1 capital increased to $2.06 billion, resulting in a common equity Tier 1 capital ratio of 9.96% as of December 31, 2024[484]. - Total risk-based capital rose to $2.82 billion, with a total capital ratio of 13.61% as of December 31, 2024[484]. - Stockholders' equity increased by $586.6 million or 22.9% to $3.1 billion at December 31, 2024, primarily due to the issuance of common stock as merger consideration in the American National acquisition[437]. - The effective tax rate increased to 19.5% for 2024, up from 15.9% in 2023, primarily due to a valuation allowance established in 2024[428]. - The company recorded a specific reserve of $13.1 million on an impaired loan in the commercial and industrial portfolio, contributing to the increase in the ACL[458]. Risk Management - The federal banking agencies have established guidelines for managing risks associated with concentrations in commercial real estate lending, requiring heightened risk management practices if certain concentration metrics are met[159]. - The company emphasizes sound underwriting practices and risk management in its CRE lending, with a focus on collateral values exceeding loan amounts and stress testing for economic conditions[450]. - The allowance for credit losses (ACL) increased to $193,685 thousand in 2024, up from $148,451 thousand in 2023, primarily due to organic loan growth and the American National acquisition[464]. - Nonperforming assets (NPAs) rose to $58.4 million, a 58.2% increase from $36.9 million in 2023, with NPAs as a percentage of total loans increasing to 0.32%[463]. - Provision for credit losses increased by $18.5 million or 58.4% to $50.1 million for the year ended December 31, 2024, primarily due to organic loan growth and economic uncertainty[470].

Atlantic Union (AUB) closed the last trading session at $36.76, gaining 0.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $46.60 indicates a 26.8% upside potential.The mean estimate comprises five short-term price targets with a standard deviation of $4.45. While the lowest estimate of $41 indicates an 11.5% increase from the current price level, the most optimistic analyst expe ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, February 18:                     Peoples Financial Services Corp. (PFIS) : This bank holding company for Peoples Security Bank has witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.2% the last 60 days.This Zacks Rank #1 company has a dividend yield of 4.7%, compared with the industry average of 2.5%.Atlantic Union Bankshares Corporation (AUB) : This bank holding company for ...

Here are three stocks with buy rank and strong income characteristics for investors to consider today, February 12th:Bank of Hawaii Corporation (BOH) : This bank holding company for Bank of Hawaii has witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.4% over the last 60 days.This Zacks Rank #1 company has a dividend yield of 5.5%, compared with the industry average of 3.7%.Atlantic Union Bankshares Corporation (AUB) : This bank holding company for Atlantic Union Bank has witn ...

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 ...

The Pioneer Of Seeking Alpha's BAD BEAT Investing, Quad 7 Capital is a team of 7 analysts with a wide range of experience sharing investment opportunities for nearly 12 years. They are best known for their February 2020 call to sell everything & go short, & have been on average 95% long 5% short since May 2020. The broader company has expertise in business, policy, economics, mathematics, game theory, & the sciences. They share both long & short trades & invest personally in equities they discuss within the ...

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 ...

Financial Performance Highlights - The company reported net income available to common shareholders for Q4 2024 was $548 million, or $060 per diluted share[19, 20] - Adjusted operating earnings available to common shareholders decreased to $614 million at December 31, 2024[19, 20] - Q4 2024 adjusted operating return on tangible common equity was 1530%, and the full year was 1612%[17] - Q4 2024 adjusted operating return on assets was 103%, and the full year was 106%[17] - Q4 2024 adjusted operating efficiency ratio (FTE) was 5267%, and the full year was 5331%[17] Loan and Deposit Growth - Loans held for investment totaled $1847 billion, an increase of $1333 million or 29% annualized from the prior quarter[32] - Total deposits were $204 billion, an increase of $923 million or 18% annualized from the prior quarter[10, 32] - Noninterest-bearing demand deposits accounted for 21% of total deposit balances at the end of Q4 2024[32] Asset Quality - Q4 2024 net charge-offs were at 3 bps annualized, and full-year net charge-offs were at 5 bps[17] - Nonperforming assets increased in Q4 due to a $277 million asset-based C&I loan being classified as non-accrual, resulting in a specific reserve of $131 million[17] Capital Position and Outlook - The company's capital ratios are well above regulatory well-capitalized levels as of December 31, 2024[34] - The company paid a common stock dividend of 34 cents per share in Q4, a 63% increase from both Q3 2024 and Q4 2023[37] - The 2025 standalone financial outlook includes mid-single-digit growth for both loans and deposits[38]

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 ...