Published on 19 Oct 2023 on GuruFocus.com via Yahoo Finance
Atlantic Union Bankshares Corp (AUB) Reports Strong Q3 2023 Earnings Amid Strategic Actions
Atlantic Union Bankshares Corp (NYSE:AUB) reported Q3 2023 net income of $51.1 million, with basic and diluted earnings per share of $0.68.The company's strategic actions, including a merger with American National Bankshares Inc., cost-saving initiatives, and a sale-leaseback transaction, significantly impacted the quarter's financial results.Net interest income for Q3 2023 was $151.9 million, a slight decrease from the previous quarter due to higher deposit costs and changes in deposit mix.Nonperforming assets remained stable at 0.19% of total loans held for investment, with net charge-offs at a negligible 0.01%.
Warning! GuruFocus has detected 3 Warning Signs with AUB.