Atlantic Union Q3 2020 Earnings Report

Reported strong financial results driven by resilience and expense management.

Key Takeaways

Atlantic Union Bankshares Corporation reported net income available to common shareholders of $58.3 million and diluted earnings per common share of $0.74 for the third quarter ended September 30, 2020. The company demonstrated resilience in navigating economic challenges and benefited from decisive actions to reduce expenses.

Net income available to common shareholders was $58.3 million, with diluted earnings per common share of $0.74.

Pre-tax pre-provision operating earnings were $78.6 million.

The Company processed over 11,000 PPP loans, which totaled $1.7 billion.

Expense reduction actions included the consolidation of 14 branches.