secwatch.observer — SEC 8-K summary
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Issuer:     Atlantic Union Bankshares Corp (AUB)
CIK:        0000883948
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0000883948-23-000033
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/883948/000088394823000033/0000883948-23-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/883948/000088394823000033/aub-20230425x8k.htm
  HTML page:      https://secwatch.observer/filing/0000883948-23-000033

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