Atlantic Union Bankshares Reports Strong Financial Performance for Q2 2026

Atlantic Union Bankshares Corporation reported significant financial performance improvements in its latest 10-Q filing for the quarter ending June 30, 2026. The company achieved a net income of $161.0 million, translating to earnings per share (EPS) of $1.11, a substantial increase from $19.8 million and $0.12 per share in the same quarter of the previous year. For the first half of 2026, net income available to common shareholders reached $277.2 million, compared to $63.7 million in the first half of 2025, with EPS rising to $1.95 from $0.55.

The company’s total assets increased to $38.1 billion, up $514.1 million or 2.8% from December 31, 2025. This growth was primarily driven by a $877.1 million increase in loans held for investment (LHFI), which reached $28.7 billion, reflecting a 6.4% annualized growth rate. However, total deposits slightly decreased to $30.5 billion, down $3.4 million from the end of 2025, attributed to declines in brokered and demand deposits, although interest-bearing customer deposits saw an increase.

Strategically, Atlantic Union Bankshares has been active in managing its capital structure. The company initiated a share repurchase program in May 2026, authorizing the buyback of up to $250 million of its common stock. By the end of June 2026, approximately 265,000 shares had been repurchased for $10 million. Additionally, the company issued $250 million in subordinated notes due 2036, with proceeds expected to be used for redeeming existing subordinated debt and general corporate purposes.

Operationally, the bank has seen a notable increase in noninterest income, which rose to $90.2 million for the second quarter, a 10.7% increase year-over-year. This growth was driven by higher fiduciary and asset management fees, as well as a significant pre-tax gain of $32.3 million from the sale of its equity interest in Bearing Insurance. The company also reported a decrease in noninterest expenses, primarily due to a reduction in merger-related costs, which fell from $78.9 million in the second quarter of 2025 to zero in the current quarter.

Looking ahead, Atlantic Union Bankshares remains focused on leveraging its recent acquisition of Sandy Spring Bancorp to enhance its market presence and operational efficiency. The company is also closely monitoring economic conditions, including interest rate fluctuations and inflation, which could impact its financial performance. The management expressed confidence in its ability to navigate these challenges while continuing to support growth and shareholder value.