Atlantic Union Bankshares | 8-K: FY2026 Q2 Revenue: USD 577.08 M

Revenue: As of FY2026 Q2, the actual value is USD 577.08 M.

EPS: As of FY2026 Q2, the actual value is USD 1.11, beating the estimate of USD 1.0186.

EBIT: As of FY2026 Q2, the actual value is USD 219.77 M.

Overview

As of June 30, 2026, Atlantic Union Bankshares Corporation reported total Assets of $38.1 billion, Loans of $28.7 billion, and Deposits of $30.5 billion. The company’s Market Capitalization was $6.0 billion as of July 20, 2026, and it operated 177 branches across Virginia, North Carolina, and Maryland.

Net Income and Earnings

Net income available to common shareholders (GAAP) increased by 32.6% to $158,046 thousand in Q2 2026 from $119,198 thousand in Q1 2026. Adjusted operating earnings available to common shareholders (non-GAAP) rose by 6.2% to $134,020 thousand in Q2 2026 from $126,152 thousand in Q1 2026.

Return Metrics

Return on Equity (ROE) (GAAP) improved to 12.60% in Q2 2026 from 9.78% in Q1 2026. Adjusted Operating Return on Tangible Common Equity (ROTCE) (non-GAAP) increased to 20.11% in Q2 2026 from 19.62% in Q1 2026. Return on Assets (ROA) (GAAP) increased to 1.73% in Q2 2026 from 1.33% in Q1 2026, while Adjusted Operating ROA (non-GAAP) increased to 1.47% from 1.41% over the same period.

Efficiency

The GAAP Efficiency Ratio improved to 47.94% in Q2 2026 from 57.14% in Q1 2026. The Adjusted Operating Efficiency Ratio (FTE) (non-GAAP) also improved to 47.47% in Q2 2026 from 49.86% in Q1 2026.

Net Interest Income

Net Interest Income (GAAP) increased by 4.1% to $325,118 thousand in Q2 2026 from $312,373 thousand in Q1 2026. Net Interest Income (FTE) (non-GAAP) was $329.7 million in Q2 2026, an increase of $12.8 million from $316.9 million in Q1 2026. The Net Interest Margin (FTE) (non-GAAP) increased by 9 basis points to 3.94% in Q2 2026 from 3.85% in Q1 2026. Average loan yields (FTE) (non-GAAP) increased by 9 basis points to 6.23% in Q2 2026. The cost of funds remained unchanged at 1.94% for Q2 2026.

Noninterest Income

Noninterest Income (GAAP) increased by 64.7% to $90,248 thousand in Q2 2026 from $54,783 thousand in Q1 2026, primarily driven by a $32.3 million pre-tax gain on the sale of an equity interest in Bearing Insurance Group, LLC. Adjusted Operating Noninterest Income (non-GAAP) increased by approximately 5.7% to $57,894 thousand in Q2 2026 from $54,781 thousand in Q1 2026, mainly due to a $2.5 million rise in loan-related interest rate swap fees and a $1.3 million increase in fiduciary and asset management fees, partially offset by a $2.8 million decrease in other operating income.

Noninterest Expense

Noninterest Expense (GAAP) decreased by 5.1% to $199,136 thousand in Q2 2026 from $209,810 thousand in Q1 2026, largely due to a $9.0 million decrease in pre-tax merger-related costs. Adjusted Operating Noninterest Expense (non-GAAP) decreased by 0.7% to $184,000 thousand in Q2 2026 from $185,330 thousand in Q1 2026, primarily due to a $1.8 million decrease in marketing and advertising expense and a $1.1 million decrease in salaries and benefits expense.

Provision for Credit Losses

The Provision for Credit Losses increased to $11,737 thousand in Q2 2026 from $2,737 thousand in Q1 2026, primarily reflecting the reserve build associated with loan portfolio growth.

Loans and Deposits

Loans Held for Investment (LHFI) totaled $28.7 billion at June 30, 2026, an increase of $726.8 million from the prior quarter, representing an annualized growth rate of 10.4%. Commercial Real Estate (CRE) loans grew by 6.1% annualized, Commercial & Industrial loans grew by 20.3% annualized, and Consumer loans grew by 11.3% annualized. Total Deposits reached $30.5 billion at June 30, 2026, an increase of $77.0 million from the prior quarter, with an annualized growth rate of 1.0%. Noninterest-bearing demand deposits accounted for 22% of total deposits, down from 23% in the prior quarter. The Average Cost of Deposits increased by 3 basis points to 1.93% compared to the prior quarter. The Loan to Deposit Ratio increased to 94.1% at June 30, 2026, up from 92.0% in the prior quarter.

Asset Quality

Annualized Net Charge-offs were 3 basis points of total average loans held for investment in Q2 2026. Nonperforming Assets were 0.39% of loans held for investment in Q2 2026, an increase of 3 basis points from the prior quarter. The Allowance for Credit Loss (ACL) was 1.15% of loans held for investment as of June 30, 2026, with an ending balance of $331.0 million, up from $321.9 million as of March 31, 2026. Total Nonperforming Assets were $112.7 million at June 30, 2026, compared to $99.7 million as of March 31, 2026.

Capital Position

As of June 30, 2026, the Common Equity Tier 1 Ratio (CET1) was 10.4% for Atlantic Union Bankshares and 13.0% for Atlantic Union Bank. The Tier 1 Capital Ratio was 10.9% for Atlantic Union Bankshares and 13.0% for Atlantic Union Bank. The Total Risk Based Capital Ratio was 14.1% for Atlantic Union Bankshares and 14.0% for Atlantic Union Bank. The Leverage Ratio was 9.6% for Atlantic Union Bankshares and 11.4% for Atlantic Union Bank. Tangible Book Value per Share (non-GAAP) increased by 4.2% to $20.77 as of June 30, 2026, from $19.93 as of March 31, 2026. The Company paid a common stock dividend of $0.37 per share and repurchased $10.0 million of common stock at an average price of $37.76 during Q2 2026.

Liquidity and Securities Portfolio

Total Liquidity Sources were $13.3 billion as of June 30, 2026, providing approximately 134% liquidity coverage of uninsured/uncollateralized deposits of $9.9 billion. The Securities Portfolio totaled $4.7 billion with net unrealized losses of - $346.2 million as of June 30, 2026. Of this, 83% was available-for-sale (AFS) with net unrealized losses of - $317 million, and 17% was held-to-maturity (HTM) with net unrealized losses of - $29 million. The portfolio had a total effective duration of approximately 4.0 years and a yield of 4.05% as of June 30, 2026.

Wealth Management

Assets under management increased to $16,522,020 at June 30, 2026, from $15,246,694 at March 31, 2026.

Outlook

Atlantic Union Bankshares Corporation expects full-year 2026 loans (end of period) to be between $29.0 billion and $30.0 billion, and deposits (end of period) to range from $31.0 billion to $32.0 billion. The Company anticipates Net Interest Income (FTE) to be approximately $1.32 billion to $1.33 billion, with a Net Interest Margin (FTE) of about 3.90% to 3.95%. They project a Tangible Book Value Growth Per Share of approximately 12% for the full year.