secwatch.observer — SEC 8-K summary
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Issuer:     Atlantic Union Bankshares Corp (AUB)
CIK:        0000883948
Form:       8-K
Filed at:   2023-09-21T23:59:59+00:00
Accession:  0000883948-23-000082
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Atlantic Union Bankshares completes $45.8M sale-leaseback of 27 properties and $228.3M securities sale
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- Sale-leaseback of 27 properties (25 branches + drive thru/parking) for $45.8M cash; pre-tax gain $27.9M.
- Lease terms: 17-year initial with renewal options; annual rent $3.7M pre-tax with 1.5% escalation.
- Concurrently sold $228.3M in AFS securities for pre-tax loss of $27.7M, offsetting the gain.
- Net transaction expected to be immediately accretive to net income and EPS; no branch closures.
- Securities proceeds initially held at Fed, to be reinvested back into investment portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/883948/000088394823000082/0000883948-23-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/883948/000088394823000082/aub-20230920x8k.htm
  HTML page:      https://secwatch.observer/filing/0000883948-23-000082

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