Atlantic Union Q1 GAAP EPS $0.44; adjusted $0.63; sold $505.7M securities at $13.4M loss

Atlantic Union Bankshares Corp

2023-Q1 EPS reported $0.44

Net income available to common $32.7M ($0.44 diluted EPS); adjusted operating earnings $47.2M ($0.63).
Executed balance sheet repositioning: sold AFS securities at $13.4M pre-tax loss, reduced FHLB borrowings.
Net interest margin fell 20 bps to 3.41%; net interest income $153.4M vs $163.8M in Q4 2022.
Recorded $5.0M legal reserve for ongoing regulatory matter; provision for credit losses $11.9M up from $6.3M.
Loan growth $135.1M to $14.6B; deposits rose $524.2M to $16.5B; tangible common equity ratio 6.91%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Atlantic Union Bankshares Corp reported first quarter of 2023 results: net income $32.7 million, EPS $0.44.

Period: first quarter of 2023
Net income: $32.7 million
EPS: $0.44
Result: reported results

Exact text from the filing

Atlantic Union Bankshares Corporation (the “Company” or “Atlantic Union”) (NYSE: AUB) reported net income available to common shareholders of $32.7 million and basic and diluted earnings per common share of $0.44 for the first quarter of 2023.

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Source: SEC EDGAR

accession 0000883948-23-000033

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