Atlantic Union Bankshares (US:AUB)2023-01-24 19:31Financial Performance Highlights - Net income available to common shareholders for Q4 2022 was $67.6 million, or $0.90 per share, an increase of $12.5 million, or $0.16 per share, compared to the prior quarter[24] - The company's Return on Tangible Common Equity (ROTCE) was 22.92% in Q4 2022, compared to 17.21% in Q3 2022[23] - The company's Return on Assets (ROA) was 1.39% in Q4 2022, compared to 1.15% in Q3 2022[23] - The efficiency ratio was 52.98% in Q4 2022, compared to 56.68% in Q3 2022[23] Loan and Deposit Growth - Total loans held for investment reached $14.4 billion as of December 31, 2022, representing a $530.4 million increase, or 15.1% annualized growth, from the previous quarter[37] - Excluding PPP loans, total loans increased by $535.3 million, or approximately 15.3% annualized, during Q4 2022[37] - Total deposits decreased by $614.5 million, or approximately 14.7% annualized[37] - Commercial loans, excluding PPP, increased by 16.2% annualized[38] Asset Quality and Credit Outlook - Net charge-offs were 2 basis points annualized for Q4 2022[16] - The company expects the ACL to loans to be approximately 85-90 basis points and the net charge-off ratio to be approximately 10 basis points for the full year 2023[48] 2023 Financial Outlook - The company anticipates loan growth of approximately 6%-8% for 2023[16,48] - The company projects net interest income (FTE) growth of approximately 13%-15% for 2023[48] - The company expects the net interest margin (FTE) to be approximately 3.70%-3.75% for 2023[48]