Atlantic Union Bankshares Reports Fourth Quarter Financial Results

Atlantic Union Bankshares Corporation (the "Company" or "Atlantic Union") AUB reported net income available to common shareholders and adjusted operating earnings available to common shareholders(1) of $67.6 million and basic and diluted earnings per common share of $0.90 for the fourth quarter ended December 31, 2022. Pre-tax pre-provision adjusted operating earnings available to common shareholders(1) totaled $85.6 million for the fourth quarter ended December 31, 2022.

"Atlantic Union Bankshares delivered strong fourth quarter financial results as we hit our profitability and efficiency targets - with low double-digit annualized loan growth, strong credit quality, an expanding net interest margin and positive operating leverage," said John C. Asbury, president and chief executive officer of Atlantic Union. "Our markets continue to show resiliency and positive dynamics, which combined with our asset sensitivity lead us to believe we are well-positioned for 2023."

"Operating under the mantra of soundness, profitability and growth in that order of priority - Atlantic Union remains committed to generating sustainable, profitable growth and building long term value for our shareholders."