Atlantic Union Q1 2021 Earnings Report
Key Takeaways
Atlantic Union Bankshares Corporation reported net income available to common shareholders of $53.2 million, with basic and diluted earnings per common share of $0.67 for the first quarter ended March 31, 2021. The company delivered solid financial results amidst economic headwinds from COVID-19, while positioning itself for long-term success, maintaining a strong financial position with ample liquidity and a well-fortified capital base.
Net income available to common shareholders was $53.2 million for Q1 2021.
Basic and diluted earnings per common share were $0.67 for Q1 2021.
Net interest income was $134.9 million for Q1 2021, a decrease from $145.6 million in the previous quarter.
The company processed approximately $165.0 million of loan forgiveness on approximately 2,500 PPP loans during the first quarter of 2021, and funded $511.7 million in new PPP Round Two loans.
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Atlantic Union Revenue by Segment
Forward Guidance
Atlantic Union remains optimistic that the challenges of COVID-19 will ease as the year progresses and that Atlantic Union will emerge as a stronger company that is well positioned to generate sustainable, profitable growth and build long term value for our shareholders.