Atlantic Union completes Sandy Spring merger; pro forma shows combined $38.6B assets, $206M net income

Atlantic Union Bankshares Corp

Merger closed April 1, 2025; Sandy Spring stockholders received 0.900 shares of AUB common per share, valuing transaction at ~$1.3B.
Pro forma combined total assets of $38.6B, loans $29.3B, deposits $32.1B as of Dec 31, 2024.
Pro forma net income available to common of $206.4M, diluted EPS $1.47 for year ended Dec 31, 2024.
Forward sale agreement fully settled, net proceeds of ~$385M from 11.3M shares at $33.95/share.
Merger-related costs of $138.4M and Sandy Spring goodwill impairment of $54.4M included in pro forma.

item 9.01

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