Atlantic Union Bankshares Corp
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 3, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
INDEX
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| ITEM | | | | PAGE |
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| | | PART I - FINANCIAL INFORMATION | | |
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| Item 1. | | Financial Statements | | |
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| | | Consolidated Balance Sheets as of September 30, 2026 (unaudited) and December 31, 2025 (audited) | | 2 |
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| | | Consolidated Statements of Income (unaudited) for the three and nine months ended September 30, 2026 and September 30, 2025 | | 3 |
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| | | Consolidated Statements of Comprehensive Income (Loss) (unaudited) for the three and nine months ended September 30, 2026 and September 30, 2025 | | 4 |
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| | | Consolidated Statements of Changes in Stockholders’ Equity (unaudited) for the nine months ended September 30, 2026 and September 30, 2025 | | 5 |
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| | | Consolidated Statements of Cash Flows (unaudited) for the nine months ended September 30, 2026 and September 30, 2025 | | 7 |
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| | | Notes to the Consolidated Financial Statements (unaudited) | | 9 |
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| | | Report of Independent Registered Public Accounting Firm | | 57 |
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| Item 2. | | Management’s Discussion and Analysis of Financial Condition and Results of Operations | | 58 |
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| Item 3. | | Quantitative and Qualitative Disclosures About Market Risk | | 97 |
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| Item 4. | | Controls and Procedures | | 100 |
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| | | PART II - OTHER INFORMATION | | |
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| Item 1. | | Legal Proceedings | | 100 |
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| Item 1A. | | Risk Factors | | 100 |
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| Item 2. | | Unregistered Sales of Equity Securities and Use of Proceeds | | 101 |
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| Item 5. | | Other Information | | 101 |
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| Item 6. | | Exhibits | | 102 |
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| | | Signatures | | 103 |
Glossary of Acronyms and Defined Terms
*In this Quarterly Report on Form 10-Q,*except as otherwise indicated or the context suggests otherwise, references to the “Company” refers to Atlantic Union Bankshares Corporation, a Virginia corporation, and the terms “we”, “us” and “our” refer to the Company and its direct and indirect subsidiaries, including Atlantic Union Bank, which we refer to as the “Bank.” The “Federal Reserve” refers to the Board of Governors of the Federal Reserve System, our primary federal regulator.
*“Our common stock” refers to the Company’s common stock, par value $1.33 per share, and the term “depositary shares” means the Company’s depositary shares, each representing a 1/400th ownership interest in a share of the Company’s Series A preferred stock, with a liquidation preference of $10 thousand per share of Series A preferred stock (equivalent to $25 per depositary share). “Series A preferred stock” refers to the Company’s 6.875% Perpetual Non-Cumulative Preferred Stock, Series A, par value $10.00 per share.
**“*Sandy Spring”refers to Sandy Spring Bancorp, Inc., which we acquired on April 1, 2025, pursuant to the Agreement and Plan of Merger dated October 21, 2024, by and between the Company and Sandy Spring, which we refer to as the “Sandy Spring merger agreement.”
The “Forward Sale Agreements” refers to the forward sale agreements between the Company and Morgan Stanley & Co. LLC, as forward purchaser (the “Forward Purchaser”), each dated as of October 21, 2024, in connection with which the Forward Purchaser or its affiliate borrowed from third parties an aggregate of 11,338,028 shares of our common stock for sale in a registered public offering. On October 21, 2024, the Company entered into an underwriting agreement with the Forward Purchaser and Morgan Stanley & Co. LLC as forward seller (the “Forward Seller”), relating to the registered public offering.
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| 2029 Subordinated Notes | – | Subordinated debt of $168.0 million acquired in the Sandy Spring acquisition on April 1, 2025, and redeemed on August 15, 2026, using net proceeds from 2036 Subordinated Notes issuance |
| 2036 Subordinated Notes | – | Subordinated debt of $250.0 million issued by the Company on July 30, 2026, due August 1, 2036 |
| ACL | – | Allowance for credit losses |
| AFS | – | Available for sale |
| ALLL | – | Allowance for loan and lease losses, a component of the ACL |
| AOCI | – | Accumulated other comprehensive income (loss) |
| ASC | – | Accounting Standards Codification |
| ASU | – | Accounting Standards Update |
| Bearing Insurance | – | Bearing Insurance Group, LLC |
| BOLI | – | Bank owned life insurance |
| bps | – | Basis points |
| CDI | – | Core deposit intangible |
| CECL | – | Current expected credit losses |
| CRE | – | Commercial real estate |
| CSP | – | Cary Street Partners LLC |
| EPS | – | Earnings per common share |
| Exchange Act | – | Securities Exchange Act of 1934, as amended |
| FASB | – | Financial Accounting Standards Board |
| FDIC | – | Federal Deposit Insurance Corporation |
| FRB | – | Federal Reserve Bank of Richmond |
| FHLB | – | Federal Home Loan Bank of Atlanta |
| FOMC | – | Federal Open Market Committee |
| FTE | – | Fully taxable-equivalent |
| GAAP | – | Accounting principles generally accepted in the United States |
| HTM | – | Held to maturity |
| LHFI | – | Loans and finance leases held for investment, net of unearned income |
| LHFS | – | Loans held for sale |
| MBS | – | Mortgage-Backed Securities |
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| NDFI | – | Non-depository financial institutions |
| NPA | – | Nonperforming assets |
| NYSE | – | New York Stock Exchange |
| PCD | – | Purchased credit deteriorated |
| Repurchase Program | – | The share repurchase program, approved on May 5, 2026 by the Company’s Board of Directors, which authorized the repurchase of up to $250 million of the Company’s common stock |
| ROU | – | Right-of-Use |
| RUC | – | Reserve for unfunded commitments |
| SEC | – | U.S. Securities and Exchange Commission |
| SOFR | – | Secured Overnight Financing Rate |
| TLM | – | Troubled loan modification |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.