Atlantic Union Bankshares Corporation (NYSE:AUB) Q3 2021 Earnings Conference Call October 25, 2021 9:00 AM ET Company Participants John Asbury - President, Chief Executive Officer Maria Tedesco - President, Atlantic Union Bank Robert Gorman - Executive Vice President, Chief Financial Officer David Ring - Head of Commercial Banking Shawn O’Brien - Head of Consumer Banking Bill Cimino - Senior Vice President, Investor Relations Conference Call Participants Casey Whitman - Piper Sandler Catherine Mealor - KBW ...

Financial Performance - Net income available to common shareholders for Q3 2021 was $716 million, a decrease of $108 million from the prior quarter[20] - Common EPS, diluted, decreased to $094 in Q3 2021 from $105 in Q2 2021[19] - The Return on Tangible Common Equity (ROTCE) was 1879% for Q3 2021, compared to 2144% for Q2 2021[19] - The efficiency ratio increased to 5695% in Q3 2021 from 5442% in Q2 2021[19] - Net interest margin decreased to 305% in Q3 2021 from 315% in Q2 2021[19] Balance Sheet - Total assets were $199 billion as of September 30, 2021[8] - Loans totaled $131 billion as of September 30, 2021[8] - Deposits totaled $166 billion as of September 30, 2021[8] - Loans held for investment totaled $131 billion, a decrease of $558 million from the prior quarter, driven by approximately $3918 million of PPP loans that were forgiven and declines in commercial loan balances ex PPP of $165 million[31] - Total deposits decreased by $371 million, or approximately 09% annualized[31] Capital Management - The company repurchased 23 million shares for $827 million during the quarter[36] - The company paid dividends of $028 per common share, up 12% from the prior year[36]

Atlantic Union Bankshares Corporation (NYSE:AUB) Q2 2021 Earnings Conference Call July 22, 2021 9:00 AM ET Company Participants Bill Cimino - SVP of IR John Asbury - President and CEO Rob Gorman - Executive Vice President, CFO David Ring - Executive VP & Wholesale Banking Group Executive Maria Tedesco - President Conference Call Participants Brody Preston - Stephens Inc Eugene Koysman - Barclays Casey Whitman - Piper Sandler Laurie Hunsicker - Compass Point Catherine Mealor - KBW Operator Ladies and gentle ...

Interest Rate Sensitivity - As of March 31, 2021, the Company reported a net interest income sensitivity increase of 14.71% with a +300 basis points change in yield curve compared to 11.05% in the previous year[324]. - The Company’s economic value of equity showed a change of +5.79% with a +300 basis points change in yield curve as of March 31, 2021, compared to -2.88% in the previous year[327]. - The Company is more asset sensitive as of March 31, 2021, indicating that net interest income would increase with an immediate rise in market rates[325]. - The Company’s earnings simulation model estimates net interest income sensitivity to interest rate changes, with a projected increase of 4.76% for a +100 basis points change in rates[324]. - The Company’s overall interest sensitivity risk is governed by policies based on expectations of future interest rate movements and economic conditions[320]. - The Company’s economic value simulation uses discounted cash flow analysis to assess the fair value of assets and liabilities under different interest rate environments[326]. Internal Controls and Management - The Company’s management evaluated the effectiveness of disclosure controls and procedures as of March 31, 2021, concluding they were effective at the reasonable assurance level[329]. - There have been no changes in internal control over financial reporting that materially affected the Company during the quarter ended March 31, 2021[331]. Legal Proceedings - The Company believes that ongoing legal proceedings will not have a material adverse effect on its financial condition or results of operations[333].

Atlantic Union Bankshares Corporation (NYSE:AUB) Q1 2021 Earnings Conference Call April 22, 2021 9:00 AM ET Company Participants Bill Cimino - IRC, Investor Relations John Asbury - President and Chief Executive Officer Rob Gorman - Executive Vice President and Chief Financial Officer David Ring - Commercial Banking Group Executive Maria Tedesco - President Conference Call Participants Eugene Koysman - Barclays Brody Preston - Stephens Inc Casey Whitman - Piper Sandler & Co Catherine Miller - KBW William ...