NYSE$AUB

Atlantic Union Bankshares Corporation · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Reported solid second quarter results with loan growth and expanding net interest margin

Atlantic Union Bankshares Corporation reported net income available to common shareholders of $59.3 million and basic and diluted earnings per common share of $0.79 for the second quarter ended June 30, 2022. Net interest income was $138.8 million, an increase of $7.9 million from the first quarter of 2022.

  • Delivered solid second quarter results with upper single digit annualized loan growth
  • Strong credit metrics
  • Expanding net interest margin
  • Approximately 649,000 shares (or $23.2 million) were repurchased during the second quarter of 2022

Headline financials

Total Revenue

$177M

Previous: $169M+4.8%
EPS (adj)

$0.79

Previous: $1.05-24.8%
Efficiency Ratio

55.8%

Previous: 54.4%+2.5%
Net Interest Margin

3.1%

Previous: 3.1%+0.0%
Common Equity Tier 1 Capital Ratio

10.0%

Previous: 10.6%-5.7%
Tier 1 Capital Ratio

11.0%

Previous: 11.7%-5.7%
Total Capital Ratio

13.8%

Previous: 14.1%-1.4%
Leverage Ratio

9.3%

Previous: 9.2%+0.7%
Common Equity to Total Assets

11.3%

No prior period
Tangible Common Equity to Tangible Assets

6.8%

Previous: 8.4%-19.3%
Free Cash Flow

$62.2M

Previous: $85.4M-27.1%
Net Income

$62.2M

Previous: $85.4M-27.1%
Operating Income

$130M

Previous: $87.6M+48.6%
Gross Profit

$173M

Previous: $142M+22.5%
Cash & Equivalents

$241M

Previous: $865M-72.1%
Total Assets

$19.7B

Previous: $20B-1.6%
Stock-Based Comp

$2.93M

Previous: $2.65M+10.3%

Revenue & EPS history

Atlantic Union · Revenue · Quarterly

$177M

Q2 2022+4.8%vs Q2 2021
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Atlantic Union · $15.9M total across 5 segments · Q1 2020

  • Fiduciary and Asset Management Fees
    $5.98M+18.4%
  • Loan-Related Interest Rate Swap Fees
    $3.95M+170.4%
  • Bank Owned Life Insurance Income
    $2.05M-0.3%
  • Mortgage Banking Income
    $2.02M+39.1%
  • Gain (loss) on sale of securities
    $1.94M+1182.1%

Forward guidance

Atlantic Union remains committed to generating sustainable, profitable growth and building long term value for our shareholders.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

-0.7%

Avg return

Earnings day

-0.6%

Avg return

5 days after

+1.3%

Avg return

30 days after

41%

27 / 66 earnings

Positive

+11.5%

Q4 2016

Best reaction

-15.7%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.5%-3.4%-2.8%
Q4 2025-0.7%-1.7%+1.7%
Q3 2025-3.2%-1.8%-3.4%
Q2 2025-0.2%-1.4%+3.4%
Q1 2025+0.5%+5.7%+9.3%
Q4 2024-3.4%-0.7%-6.9%
Q3 2024-6.1%-5.2%+6.3%
Q2 2024+3.8%+3.2%-2.0%
Q1 2024-1.4%-3.8%-3.8%
Q4 2023-1.6%-0.9%-8.4%
Q3 2023-4.2%-5.4%+10.4%
Q2 2023+1.5%+0.8%-4.8%
Q1 2023-15.7%-11.8%-21.3%
Q4 2022+3.2%+4.5%+3.0%
Q3 2022-2.3%+0.8%+3.4%
Q2 2022-1.7%-3.4%+0.7%
Q1 2022-5.0%-8.4%-10.3%
Q4 2021+2.4%+1.8%-1.5%
Q3 2021-0.1%-2.8%-3.3%
Q2 2021-2.2%-0.8%+4.3%
Q1 2021+2.3%+1.9%+9.8%
Q4 2020-7.7%-9.4%+2.9%
Q3 2020+5.5%-0.4%+18.2%
Q2 2020+3.6%+1.7%+2.3%
Q1 2020+6.8%-5.5%+2.2%
Q4 2019-3.6%-4.3%-4.1%
Q3 2019+2.4%+1.9%+3.0%
Q2 2019+4.8%+5.9%+5.6%
Q1 2019-0.8%+3.0%-2.8%
Q4 2018-1.6%-0.6%+10.1%
Q3 2018-2.4%-8.1%-4.1%
Q2 2018+3.0%+6.5%+4.6%
Q1 2018+4.6%+4.5%+11.9%
Q4 2017-1.8%-1.2%-3.6%
Q3 2017+0.6%-1.5%-2.2%
Q2 2017-6.1%-7.0%-7.1%
Q1 2017+0.4%+3.7%-7.9%
Q4 2016+11.5%+10.6%+10.3%
Q3 2016+2.8%+3.9%+24.9%
Q2 2016+2.8%+3.6%+5.5%
Q1 2016+3.4%
Q4 2015-8.2%
Q3 2015-0.8%
Q2 2015+2.4%
Q1 2015-4.2%
Q4 2014-12.2%
Q3 2014-7.6%
Q2 2014-1.3%
Q1 2014+2.0%
Q4 2010-0.2%
Q4 2013-2.6%
Q3 2013-0.8%
Q2 2013+0.9%
Q1 2013-0.9%
Q4 2012+1.7%
Q3 2012+2.5%
Q2 2012-1.3%
Q4 2011-1.3%
Q1 2011-0.3%
Q1 2012+3.6%
Q4 2009-1.4%
Q3 2010-4.4%
Q3 2011-4.4%
Q2 2010-8.8%
Q2 2011-8.8%
Q1 2010+11.1%

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