Atlantic Union Bankshares reports Q3 adjusted EPS 83c, consensus 81c

“Atlantic Union delivered solid financial results in the quarter and the enhanced earnings power we envisioned as a result of the American National Bankshares acquisition is now evident,” said John Asbury, president and chief executive officer of Atlantic Union. “During the quarter, we completed the integration work associated with American National Bank and added to our teams in our North Carolina markets which we believe offer long term growth and expansion opportunities. October marks the 8-year anniversary of my having joined the Company, and the transformation we have achieved during this time is exactly what we said we’d do at the outset. This would not have been possible without the dedication of our Teammates and support of our customers. We remain excited about what the future holds for Atlantic Union. Operating under the mantra of soundness, profitability, and growth – in that order of priority – Atlantic Union remains committed to generating sustainable, profitable growth, and building long-term value for our shareholders.” For the third quarter of 2024, both the company’s net interest margin and the net interest margin decreased 8 basis points compared to the prior quarter to 3.31% and to 3.38%, respectively, primarily due to higher cost of funds and lower yields on earning assets.