Mar 31, 2023

Atlantic Union Q1 2023 Earnings Report

Atlantic Union's financial performance for Q1 2023 was reported, revealing a decrease in net income but growth in loans.

Key Takeaways

Atlantic Union Bankshares Corporation reported a net income available to common shareholders of $32.7 million, with diluted earnings per common share of $0.44 for Q1 2023. Excluding certain items, adjusted operating earnings available to common shareholders were $47.2 million, with adjusted diluted operating earnings per common share of $0.63. Net interest income decreased to $153.4 million, while total assets amounted to $20.1 billion.

Net income available to common shareholders was $32.7 million.

Basic and diluted earnings per common share were $0.44.

Net interest income amounted to $153.4 million.

Total assets reached $20.1 billion.

Total Revenue
$163M
Previous year: $161M
+1.2%
EPS
$0.63
Previous year: $0.6
+5.0%
Efficiency ratio
66.4%
Net interest margin
3.41%
Gross Profit
$153M
Cash and Equivalents
$372M
Previous year: $396M
-6.1%
Total Assets
$20.1B
Previous year: $19.8B
+1.6%

Atlantic Union

Atlantic Union

Forward Guidance

This press release and statements by our management may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.