Atlantic Union Bankshares Corporation (AUB), headquartered in Richmond, Virginia, is a full-service bank offering a wide range of financial services to consumers and businesses. AUB provides depository services, lending solutions, mortgage banking, equipment financing, wealth management, and insurance products. The company operates primarily in Virginia, Maryland, North Carolina, and South Carolina, with some services offered nationwide.
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Wholesale Banking - Provides loan, leasing, and deposit services, treasury management, SBA lending, and capital market services to wholesale customers. Includes commercial real estate, industrial customers, private banking, trust businesses, and equipment financing nationwide.
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Consumer Banking - Offers loan and deposit services to consumers and small businesses, including home loans and investment management and advisory services.
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Corporate Other - Manages corporate treasury functions, investment securities portfolio, long-term debt, short-term liquidity, funding activities, and balance sheet risk management.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John C. Asbury ExecutiveBoard | Chief Executive Officer | John C. Asbury has served as the Chief Executive Officer of Atlantic Union Bankshares Corporation since January 2017 and as President since October 2016. He has significant experience in leadership roles within the bank and previously held key positions in other financial institutions. | View Report → | |
Bradley S. Haun Executive | Chief Risk Officer | Bradley S. Haun is currently the Chief Risk Officer of Atlantic Union and Atlantic Union Bank, effective May 13, 2025. He previously served as Executive Vice President and Chief Audit Executive since 2021 and held roles as Corporate Controller and Director of Financial Reporting and Accounting Policy since joining AUB in 2011. | ||
Clare Miller Executive | Executive Vice President (EVP) and Chief Human Resources Officer | Clare Miller has been serving as the Executive Vice President and Chief Human Resources Officer at Atlantic Union Bankshares Corporation since May 2022, and previously served as Chief Talent Officer/Head of Enterprise Talent at Huntington National Bank from November 2017 to May 2021 and as Chief People Officer at Navigator Management Partners from June 2007 to November 2017. | ||
David V. Ring Executive | Executive Vice President (EVP) and Wholesale Banking Group Executive | David V. Ring serves as Executive Vice President (EVP) and Wholesale Banking Group Executive at AUB since September 2017. He has over two decades of banking experience with previous roles at Huntington National Bank, First Niagara Financial Group, and Wells Fargo. | ||
Douglas F. Woolley Executive | Executive Vice President (EVP) and Chief Credit Officer | Douglas F. Woolley, Jr. has served as Executive Vice President (EVP) and Chief Credit Officer at Atlantic Union Bank since 2016, and previously held senior roles including EVP-Senior Credit Officer (2010–2016) and Chief Credit Officer (2004–2010). | ||
Maria P. Tedesco Executive | President and Chief Operating Officer (COO) of the Bank | Maria P. Tedesco has been serving as President and Chief Operating Officer of the Bank and EVP of the Company since September 2018, and as COO since January 2022. Previously, she held executive roles at BMO Harris Bank, Santander Bank, and Citizens Financial Group. | ||
Matthew L. Linderman Executive | Executive Vice President (EVP) and Chief Information Officer (CIO) | Matthew L. Linderman has served as Executive Vice President (EVP) and Chief Information Officer (CIO) at AUB since February 2023. Previously, he held roles such as Chief Technology Officer at PNC Financial Services Group and held various leadership positions at CarMax and Capital One, demonstrating extensive technology leadership. | ||
Rachael R. Lape Executive | Executive Vice President, General Counsel, and Corporate Secretary | Rachael R. Lape is the Executive Vice President, General Counsel, and Corporate Secretary at Atlantic Union Bankshares Corporation since September 2012. She previously served as Associate Counsel from 2010 to 2012 and worked in private legal practice from 2000 to 2009. | ||
Robert M. Gorman Executive | Executive Vice President and Chief Financial Officer | Robert M. Gorman has served as Executive Vice President and Chief Financial Officer at Atlantic Union Bankshares Corporation since July 2012. He previously held senior leadership roles at SunTrust Banks, Inc. from 2002 to 2012. | ||
Shawn E. O’Brien Executive | Consumer and Business Banking Group Executive of Atlantic Union Bank | Shawn E. O’Brien has been serving as the Consumer and Business Banking Group Executive at Atlantic Union Bank since February 2019. He previously held executive roles at BBVA Compass Bank and Huntington National Bank. | ||
Daniel J. Schrider Board | Director at Atlantic Union Bankshares Corporation | Chair, President, and Chief Executive Officer of Sandy Spring Bancorp, Inc. | Daniel J. Schrider will join Atlantic Union Bankshares Corporation as a board member effective April 1, 2025. Previously, he has served as the Chair, President, and Chief Executive Officer of Sandy Spring Bancorp, Inc.. | |
Donald R. Kimble Board | Director | Donald R. Kimble is a director at Atlantic Union Bankshares Corporation since December 6, 2023. He brings extensive financial expertise, having served as CFO and Vice Chairman at KeyCorp from June 2013 to May 2023. | ||
F. Blair Wimbush Board | Director | Director at Armada Hoffler Properties, Inc.; Board member at Virginia Environmental Endowment; Board member at Lifenet Health, Inc. | F. Blair Wimbush has served as a Director at Atlantic Union Bankshares Corporation (AUB) since 2018, leveraging over four decades of expertise in corporate sustainability, real estate, and legal affairs. He has held prominent roles at Norfolk Southern Corporation and currently serves on multiple boards, contributing strategic guidance and governance. | |
Frank Russell Ellett Board | Director | Vice Chairman of Virginia Western Community College Foundation Board; Board Member at Virginia Foundation For Independent Colleges; Board Member at North Carolina Auto Dealers Association; Board Member at Virginia Trucking Association | Frank Russell Ellett has been a Director at Atlantic Union Bankshares (AUB) since 2019 and serves on the Audit and Compensation Committees. He has held executive roles including President of Excel Truck Group since 2003 and has served in various capacities at Norfolk Southern Corporation and the United States Navy. | |
Joel R. Shepherd Board | Director | President of Virginia Home Furnishings, Inc. ; President of 220 Self Storage, Inc. | Joel R. Shepherd has served as a Director at Atlantic Union Bankshares Corporation since April 1, 2024. He was also appointed to the Audit Committee and as Chair of the Trust Committee on May 7, 2024, and previously served as a director of American National Bankshares Inc. from 2015 until its merger with AUB. | |
Keith L. Wampler Board | Director | Advisory member of the board at Hilldrup; Founding board member at Community Foundation of the Rappahannock River Region; Board member at Fredericksburg Regional Food Bank; Committee member at Mary Washington Healthcare | Keith L. Wampler is a Director at Atlantic Union Bankshares Corporation since 2014. He has an extensive background in accounting and corporate governance and has been involved in external board roles, including serving as a retired partner at PBMares, LLP. | |
Linda V. Schreiner Board | Vice Chair of the Board of Directors | Virginia War Memorial Foundation - Board Member; ChildSavers - Board Member; ChildSavers - Endowment Board Member; The Richmond Forum - Board Member | Linda V. Schreiner is the Vice Chair of the Board of Atlantic Union Bankshares (AUB) since 2012. She has extensive experience in human resources, corporate strategy, and leadership, previously serving in senior roles at Markel Corporation and MeadWestvaco. | |
Mark C. Micklem Board | Director | Mark C. Micklem joined AUB as a Director on April 1, 2025 following the merger, and he was appointed to the Audit and Trust Committees on May 6, 2025. Prior to AUB, he served as a director at Sandy Spring Bancorp, Inc. beginning in 2019. | ||
Michelle A. O’Hara Board | Director | Board member at HR Policy Association | Michelle A. O’Hara has been serving as a Director at AUB since December 6, 2023. She is a recognized leader in human resources with extensive experience from previous roles at Humana Inc. and SAIC. | |
Mona Abutaleb Stephenson Board | Director | CEO of Medical Technology Solutions, LLC; Board member of Pentair plc | Mona Abutaleb Stephenson has served as a Director of AUB since April 1, 2025. She is also the CEO of Medical Technology Solutions, LLC since December 2019 and a board member of Pentair plc. | |
Nancy Howell Agee Board | Director | Director of RGC Resources, Inc. since 2005; Director of Healthcare Realty Trust Incorporated since 2016; Chair, Statewide Economic Development Entity (Go VA); Member, Governor's Advisory Committee for Revenue Estimates (GACRE); Chair, Virginia Foundation for Independent Colleges; Vice Chair, Virginia Business Higher Education Council | Nancy Howell Agee is a Director at AUB since April 1, 2024, following the merger; she previously served as President and CEO of Carilion Clinic from 2011 until her retirement in July 2024. | |
Patrick E. Corbin Board | Director | Managing Shareholder of Corbin & Company, P.C. | Patrick E. Corbin has been serving as a Director and Audit Committee Chair at AUB since 2018, providing robust oversight and financial expertise. Previously, he has been the Managing Shareholder of Corbin & Company, P.C. since 1983 and has been a certified public accountant since 1979. | |
Patrick J. McCann Board | Vice Chair of the Board | Patrick J. McCann has been with Atlantic Union Bankshares Corporation since 2004 and currently serves as Vice Chair of the Board. He has extensive financial management experience including his previous role as CFO of the University of Virginia Foundation (2009 to 2020) and senior positions at Bank of America-Florida Division and Barnett Banks, Inc.. | ||
Paul Engola Board | Director | Board Member, Space Foundation | Paul Engola is a Director at Atlantic Union Bankshares Corporation (AUB) since December 6, 2023. He contributes his extensive expertise in risk management, technology, and strategic planning while serving on the Risk Committee and the Nominating and Corporate Governance Committee. Previously, he held executive roles at Leidos and Lockheed Martin. | |
Rilla S. Delorier Board | Director | Board member at Central City Concern; Board member at NYMBUS; Board member at Coastal Financial Corporation; Board member at Wisdom Tree Investments, Inc. | Rilla S. Delorier has served as a Director at AUB since 2022. Previously, she was EVP and Chief Strategy and Digital Transformation Officer at Umpqua Bank (2017-2020) and held senior roles at SunTrust Bank (2006-2016). | |
Ronald L. Tillett Board | Chair of the Board of Directors | Managing Director and Head of Mid-Atlantic Public Finance at Raymond James & Associates, Inc. (since 2001); Member of the Board of Visitors and Chairman of the CNU Foundation Investment Committee at Christopher Newport University; Member of the Board of Trustees at Wason Center for Civic Leadership; Member of the Commonwealth Debt Capacity Advisory Committee (since 2010); Member of the Board of Trustees at the National Institute of Public Finance, Pepperdine University (since 2014) | Ronald L. Tillett is the Chair of the Board of Directors at Atlantic Union Bankshares Corporation since at least 2023 and has served as a Director since 2003, demonstrating extensive expertise in public finance and governance. He has also held significant roles such as Managing Director and Head of Mid-Atlantic Public Finance at Raymond James & Associates, Inc., and served in key public finance positions in Virginia. |
Research analysts who have asked questions during Atlantic Union Bankshares earnings calls.
Catherine Mealor
Keefe, Bruyette & Woods
4 questions for AUB
David Bishop
Hovde Group
4 questions for AUB
Brian Wilczynski
Morgan Stanley
2 questions for AUB
Russell Gunther
Stephens Inc.
2 questions for AUB
Stephen Moss
Raymond James Financial, Inc.
2 questions for AUB
Stephen Scouten
Piper Sandler & Co.
2 questions for AUB
Russell Elliott Gunther
Stephens Inc.
1 question for AUB
Steve Moss
Raymond James
1 question for AUB
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Sandy Spring Bancorp, Inc. | 2025 | The completed all-stock acquisition converted each share of Sandy Spring into 0.900 shares of Atlantic Union common stock, creating an aggregate transaction value of approximately $1.3 billion and establishing the largest regional banking franchise in the lower Mid-Atlantic with enhanced branch networks; the deal received all required regulatory and shareholder approvals. |
American National Bankshares Inc. | 2024 | The completed acquisition converted each share of American National common stock into 1.35 shares of Atlantic Union common stock at an approximate value of $507 million, adding 26 branches and expanding Atlantic Union’s presence in key areas of Virginia and North Carolina, with integration completed and pre-tax merger costs of approximately $29.8 million incurred. |
American National Bankshares Inc. (AMNB) | 2023 | The planned all-stock merger—expected to close in the first quarter of 2024—converts each American National share into 1.35 shares of Atlantic Union common stock, is valued at roughly $416.8 million, and is intended to deepen presence in Southwest and Southside Virginia while expanding into North Carolina; the transaction is subject to customary regulatory approvals and qualifies as a tax reorganization under Section 368(a). |
Recent press releases and 8-K filings for AUB.
- Regional banks are exhibiting resilience and growth potential in 2025, with financial stocks showing strong momentum and 75% of S&P financials above their 50-day moving average.
- The decline in the 30-year fixed mortgage rate to 6.56% has increased refinancing opportunities for homeowners, boosting bank activity.
- M&T Bank reported Q2 revenues of $2.40 billion, surpassing expectations, leading to a 2.3% rise in its stock price.
- Banc of California has significantly higher institutional ownership at 86.9% compared to Pinnacle Bank's 8.4%, indicating stronger confidence from large investors.
- Independent Bank offers a competitive 3.16% dividend yield and has consistently grown its dividend at an average annual rate of 5.11% over the past five years.
- Atlantic Union Bankshares reported $37.3 billion in assets, $27.3 billion in loans, and $31.0 billion in deposits as of June 30, 2025. For Q2 2025, the company achieved an adjusted operating return on tangible common equity of 23.8% and an adjusted operating return on assets of 1.46%.
- The acquisition of Sandy Spring was completed on April 1, 2025, with the core systems conversion scheduled for October 2025. The company remains on track to achieve a 27% cost-savings target of Sandy Spring's non-interest expense.
- For the full year 2025, the company projects end-of-period loans to be between $28.0 \u2013 28.5 billion and deposits between $31.0 \u2013 31.5 billion. Net Interest Income (FTE) is estimated to be between ~$1.15 - $1.20 billion.
- Atlantic Union Bankshares maintains a strong capital position, with its Common Equity Tier 1 Ratio at 9.8% as of June 30, 2025, which is well above regulatory minimums.
- The company increased its common stock dividend by 6.3% to 34 cents per share in Q2 2025. Additionally, it plans to open 10 new branches in North Carolina over the next three years as part of its expansion strategy.
- Atlantic Union Bankshares reported Q2 2025 adjusted operating earnings available to common shareholders of $135.1 million, or $0.95 per common share, with an adjusted operating efficiency ratio of 48.3%. The reported FTE net interest margin expanded by 38 basis points to 3.83%.
- The acquisition of Sandy Spring Bank closed on April 1, with integration progressing smoothly and core systems conversion on track for Q4. The company completed the sale of approximately $2 billion of commercial real estate loans acquired from Sandy Spring Bank on June 26, exceeding initial pricing estimates.
- For the full year 2025, the company projects loan balances between $28 billion and $28.5 billion and year-end deposit balances between $31 billion and $31.5 billion. The full-year net charge-off ratio is projected to be between 15 and 20 basis points.
- The company plans to accelerate investments in North Carolina, with 10 new branches to be opened starting in 2026 over a three-year period, focusing on the Research Triangle and Wilmington. Management is targeting a mid-40s efficiency ratio, 1.50% return on assets, and 20%+ return on tangible common equity for 2026, inclusive of these investments.
- The Board of Directors of Atlantic Union Bankshares Corporation declared a quarterly common stock dividend of $0.34 per share, which is the same as the second quarter of 2025 and represents a $0.02, or approximately 6%, increase from the dividend in the third quarter of 2024.
- Based on the common stock closing price of $33.68 on July 23, 2025, the common stock dividend yields approximately 4.0%. This dividend is payable on August 18, 2025, to common shareholders of record as of August 4, 2025.
- A quarterly dividend of $171.88 per share (equivalent to $0.43 per outstanding depositary share) was also declared for the 6.875% Perpetual Non-Cumulative Preferred Stock, Series A, payable on September 2, 2025, to holders of record as of August 18, 2025.
- Atlantic Union Bankshares Corp. reported a GAAP net income available to common shareholders of $16.8 million or $0.12 per diluted share for Q2 2025, a decrease from Q1 2025, primarily due to an increase in provision for credit losses and merger-related costs related to the Sandy Spring acquisition.
- Conversely, adjusted operating earnings available to common shareholders (non-GAAP) significantly increased to $135.1 million or $0.95 per diluted share in Q2 2025, up from $51.6 million or $0.57 per diluted share in Q1 2025.
- The net interest margin (FTE) improved to 3.83% in Q2 2025 from 3.45% in Q1 2025, driven by a 47 basis point increase in loan yields to 6.48% and 30 basis points from net purchase accounting accretion.
- Total deposits increased by $10.5 billion to $31.0 billion and loans held for investment grew by $8.9 billion to $27.3 billion in Q2 2025, largely due to the Sandy Spring acquisition.
- For the full year 2025, the company forecasts loans to be $28.0 – 28.5 billion, deposits $31.0-31.5 billion, and Net Interest Income (FTE) between ~$1.15 - $1.20 billion, incorporating nine months of the Sandy Spring acquisition impact.
- Atlantic Union Bankshares Corporation declared a quarterly common stock dividend of $0.34 per share, which represents a $0.02, or approximately 6%, increase from the third quarter of 2024.
- Based on the common stock closing price of $33.68 on July 23, 2025, the common stock dividend yields approximately 4.0%.
- The common stock dividend is payable on August 18, 2025, to common shareholders of record as of August 4, 2025.
- A quarterly dividend of $171.88 per share (equivalent to $0.43 per outstanding depositary share) was also declared for the 6.875% Perpetual Non-Cumulative Preferred Stock, Series A.
- The preferred stock dividend is payable on September 2, 2025, to holders of record as of August 18, 2025.