Atlantic Union Bankshares reports Q4 EPS 77c, consensus 86c

Reports Q4 revenue $391.8M, consensus $378.95M. Net interest margin was 3.90% from 3.77% in Q3 and 3.26% last year. Tangible book value per common share was $19.69 from $18.99 at previous quarter end. “Atlantic Union had a strong fourth quarter, reflecting disciplined execution and a successful integration of the Sandy Spring Bancorp, Inc. acquisition,” said CEO John Asbury. “We believe that the adjusted operating results for the quarter showcase the organization’s earnings capacity. While merger-related charges continued to affect this quarter’s results, the underlying operating performance supports our continued confidence in achieving the strategic goals associated with the Sandy Spring acquisition-namely, the targets for adjusted operating return on assets, return on tangible common equity, and efficiency ratio. Atlantic Union is a story of transformation from a Virginia community bank to the largest regional bank headquartered in the lower Mid-Atlantic, with operations in Virginia, Maryland, and a growing presence in North Carolina. 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.”