Atlantic Union Bankshares reports Q3 adjusted EPS 80c, consensus 74c

“Atlantic Union delivered strong operating results in the third quarter,” said John Asbury, president and CEO of Atlantic Union. “We were especially pleased with our customer deposit growth that more than funded loan growth during the quarter, negligible charge-offs, and the impact of our expense reduction actions taken earlier in the year. The proactive measures we have taken to manage this challenging environment are serving us well. We believe that our model of a diversified, traditional, full-service bank that delivers the products and services that our customers want and need combined with local decision making, responsiveness and client service orientation positively sets us apart from other banks, both larger and smaller. 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.” Net interest margin decreased 10 basis points from the prior quarter to 3.27% at September 30, 2023, and net interest margin (FTE) decreased 10 basis points during the same period to 3.35%.