Atlantic Union Bankshares Corporation (AUB) Financial Statements (2024 and earlier)

Company Profile

Business Address 4300 COX ROAD
GLEN ALLEN, VA 23060
State of Incorp. VA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments428,267372,196319,948390,942241,376396,303
Cash and cash equivalents428,267372,196319,948390,942241,376396,303
Financing receivable, accrued interest, after allowance for credit loss62,90060,70058,900   
Debt securities, held-to-maturity, accrued interest, after allowance for credit loss8,5006,8008,600   
Total current assets:499,667439,696387,448390,942241,376396,303
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization5,1285,3585,5885,8176,0476,277
Operating lease, right-of-use asset32,72534,52035,72931,82132,94735,237
Property, plant and equipment114,786116,466118,243126,374128,661130,998
Intangible assets, net (including goodwill)948,680949,693951,972954,353956,832975,833
Goodwill925,211925,211925,211925,211925,211935,560
Intangible assets, net (excluding goodwill)23,46924,48226,76129,14231,62140,273
Amortization method qualified affordable housing project investments   51,000   
Total noncurrent assets:1,101,3191,106,0371,162,5321,118,3651,124,4871,148,345
Other undisclosed assets19,001,34618,557,63718,911,15818,440,92418,295,93618,237,782
TOTAL ASSETS:20,602,33220,103,37020,461,13819,950,23119,661,79919,782,430
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt929,861408,7601,318,837279,982408,658115,027
Total current liabilities:929,861408,7601,318,837279,982408,658115,027
Noncurrent Liabilities
Other undisclosed liabilities17,248,00117,254,37416,769,56417,389,09916,861,66517,169,068
Total liabilities:18,177,86217,663,13418,088,40117,669,08117,270,32317,284,095
Equity
Equity, attributable to parent2,424,4702,440,2362,372,7372,281,1502,391,4762,498,335
Preferred stock173173173173173173
Common stock99,08899,07298,87398,84598,82299,651
Additional paid in capital1,776,4941,773,1181,772,4401,769,8581,767,0631,786,640
Accumulated other comprehensive loss(410,867)(361,933)(418,286)(462,119)(316,283)(191,483)
Retained earnings959,582929,806919,537874,393841,701803,354
Total equity:2,424,4702,440,2362,372,7372,281,1502,391,4762,498,335
TOTAL LIABILITIES AND EQUITY:20,602,33220,103,37020,461,13819,950,23119,661,79919,782,430

Income Statement (P&L) ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues
(Net Investment Income)
230,247217,546202,068171,156148,755138,456
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(6,069)(11,850)(6,257)(6,412)(3,559)(2,800)
Gross profit:224,178205,696195,811164,744145,196135,656
Operating expenses(28,625)(27,039)(29,335)(27,515)(28,854)(28,470)
Other operating income, net
(Noninterest Income, Other Operating Income)
1,9311,6721,8913,55011,8142,163
Operating income:197,484180,329168,367140,779128,156109,349
Nonoperating income
(Bank Owned Life Insurance Income)
2,8702,8282,6493,4452,7162,697
Interest and debt expense(78,163)(64,103)(38,220)(20,441)(9,988)(7,525)
Income from continuing operations before equity method investments, income taxes:122,191119,054132,796123,783120,884104,521
Other undisclosed loss from continuing operations before income taxes(57,640)(76,107)(50,495)(53,819)(46,158)(51,558)
Income from continuing operations before income taxes:64,55142,94782,30169,96474,72652,963
Income tax expense(9,310)(7,294)(11,777)(11,894)(12,500)(9,273)
Income from continuing operations:55,24135,65370,52458,07062,22643,690
Income before gain (loss) on sale of properties:58,07062,22643,690
Net income attributable to parent:55,24135,65370,52458,07062,22643,690
Preferred stock dividends and other adjustments(2,967)(2,967)(2,967)(2,967)(2,967)(2,967)
Net income available to common stockholders, diluted:52,27432,68667,55755,10359,25940,723

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:55,24135,65370,52458,07062,22643,690
Other comprehensive income (loss)(48,934)56,35343,833(145,836)(124,800)(210,118)
Comprehensive income (loss), net of tax, attributable to parent:6,30792,006114,357(87,766)(62,574)(166,428)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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