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Atlantic Union Bankshares ( (AUB) ) just unveiled an update.
Atlantic Union Bankshares reported a net income of $54.8 million for the fourth quarter of 2024, and $197.3 million for the entire year, despite significant merger-related costs. The company completed the acquisition of American National Bankshares Inc. and announced plans to acquire Sandy Spring Bancorp, Inc. These strategic moves aim to expand its regional presence significantly. The bank’s net interest income slightly increased in the fourth quarter due to decreased interest expenses, while asset quality showed a rise in nonperforming assets, driven by a significant commercial and industrial nonaccrual loan.
More about Atlantic Union Bankshares
Atlantic Union Bankshares Corporation is a regional bank headquartered in Virginia, with operations extending into North Carolina and Maryland. It is transforming from a Virginia community bank to the largest regional bank headquartered in the lower Mid-Atlantic following its acquisition activities.
YTD Price Performance: 3.57%
Average Trading Volume: 941,418
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.44B
See more insights into AUB stock on TipRanks’ Stock Analysis page.
