NYSE$AUB

Atlantic Union Bankshares Corporation · Q3 2024 earnings

Q3 2024 earnings · · Investor relations

Briefing

Atlantic Union reported solid financial results, with enhanced earnings power following the American National Bankshares acquisition.

Atlantic Union Bankshares Corporation reported a net income available to common shareholders of $73.4 million and diluted earnings per common share of $0.82 for the third quarter of 2024. The company's performance reflects the benefits of the American National Bankshares acquisition and strategic investments in growth markets.

  • Net income available to common shareholders was $73.4 million, with diluted earnings per share of $0.82.
  • Adjusted operating earnings available to common shareholders were $74.5 million, with adjusted diluted operating earnings per share of $0.83.
  • Net interest income was $182.9 million.
  • Total assets reached $24.8 billion, driven by growth in LHFI and the AFS securities portfolio.

Headline financials

Total Revenue

$217M

Previous: $179M+21.3%
EPS

$0.82

Previous: $0.80+2.5%
Return on Average Assets

1.2%

No prior period
Return on Average Equity

9.8%

No prior period
Efficiency Ratio

56.4%

No prior period
Net Interest Margin

3.3%

No prior period
Operating ROTCE

19.1%

No prior period
Operating Efficiency Ratio (FTE)

52.2%

No prior period
Common Equity Tier 1 Capital Ratio

9.8%

Previous: 9.9%-1.7%
Tier 1 Capital Ratio

10.6%

Previous: 10.9%-2.8%
Total Capital Ratio

13.3%

Previous: 13.7%-2.7%
Leverage Ratio

9.3%

Previous: 9.6%-3.6%
Common Equity to Total Assets

12.2%

No prior period
Tangible Common Equity to Tangible Assets

7.3%

No prior period
Net Charge-offs to Total Average LHFI (Annualized)

0.0%

No prior period
Capital Expenditures

-$3.45M

No prior period
Free Cash Flow

$76.4M

Previous: $54M+41.5%
Net Income

$76.4M

Previous: $54M+41.5%
Operating Income

$23M

Previous: $64.5M-64.4%
Gross Profit

$215M

Previous: $174M+23.3%
Cash & Equivalents

$528M

Previous: $399M+32.4%
Total Assets

$24.8B

Previous: $20.7B+19.6%

Revenue & EPS history

Atlantic Union · Revenue · Quarterly

$217M

Q3 2024+21.3%vs Q3 2023
Beat estimate in 4 of 15 quarters(27%)
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 its 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 Q3 2024

Historical avgQ3 2024

-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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