Atlantic Union Bankshares CFO Rob Gorman to Retire by March 2026 After 13 Years of Service

Atlantic Union Bankshares announced the planned retirement of Executive Vice President and Chief Financial Officer Robert M. Gorman, effective no later than March 31, 2026. Gorman, who has served as CFO since 2012, will continue in his current role until a successor is appointed, after which he will assist with the transition in an advisory capacity. A nationwide search is underway to identify his replacement.

Under Gorman’s leadership, Atlantic Union grew from a $4 billion community bank centered in Richmond, Virginia, to a $40 billion regional institution—the largest headquartered in the lower Mid-Atlantic. CEO John Asbury praised Gorman for his contributions to financial performance and shareholder value, calling him a key driver of the bank’s long-term growth.

Gorman expressed pride in his tenure, noting the company’s successful navigation of challenges and strong foundation for continued profitable growth.

Atlantic union bankshares q1 2025 earnings summary

- net income available to common shareholders: $46.9 million
- basic and diluted earnings per share: $0.53 and $0.52
- adjusted operating earnings: $51.6 million
- adjusted diluted operating earnings per share: $0.57

merger and capital actions
- completed merger with sandy spring bancorp on april 1, 2025
- conversion ratio: 0.900 shares of aub for each sandy spring share
- 53 branches acquired in virginia and maryland
- creates the largest regional bank headquartered in the lower mid-atlantic
- incurred $4.9 million in merger-related costs in q1
- forward sale agreement settled on april 1
- 11.34 million shares issued
- $385 million in gross proceeds received

operational highlights
- net interest margin expanded in q1
- average loan and customer deposit balances grew
- asset quality remained strong with negligible net charge-offs
- increased loan loss reserves in response to heightened macroeconomic uncertainty

ceo commentary
ceo john asbury noted the successful early close of the sandy spring merger, which is expected to accelerate cost synergies. he also highlighted solid financial performance amid a more volatile and uncertain economic backdrop. the company continues to focus on soundness, profitability, and growth.

Atlantic Union Bankshares schedules first quarter 2025 earnings call for April 24

Atlantic Union Bankshares Corporation announced that it will host its first quarter 2025 earnings conference call and webcast on Thursday, April 24, 2025, at 9:00 a.m. Eastern Time. During the call, the company will review its financial results and provide updates on recent business activities.

The announcement was included in a press release dated March 27, 2025, and filed with the Securities and Exchange Commission as part of a Form 8-K. No financial results were disclosed in the filing itself.

Investors and analysts are expected to tune in to hear more about the company’s performance, trends in its banking operations, and any strategic initiatives underway.

Key details:
- Earnings call date: April 24, 2025
- Time: 9:00 a.m. ET
- Ticker symbols: AUB (common stock), AUB.PRA (preferred stock)
- Exchange: New York Stock Exchange

Atlantic Union Bankshares Corporation filed a Form 8-K with the SEC on January 31, 2025, to disclose that company management will use an investor presentation during meetings with analysts and investors in the first quarter of 2025. This presentation, which provides insights into the company’s performance and strategic direction, is available in the Investor Relations section of its website.

The filing also includes Exhibit 99.1, which contains the investor handout. The information is furnished under Regulation FD and is not considered filed for purposes of the Securities Exchange Act of 1934.

Atlantic Union Bankshares Corporation filed an 8-K report detailing updates on its merger agreement with Sandy Spring Bancorp, Inc., announced on October 21, 2024. The merger involves Sandy Spring merging into Atlantic Union, with Atlantic Union as the surviving entity. The report highlights the following key developments:

Litigation and legal demands: Shareholders of Atlantic Union and Sandy Spring have filed lawsuits and demand letters alleging violations related to the merger, including false or misleading disclosures, breaches of fiduciary duties, and negligence. Atlantic Union and Sandy Spring assert that these claims lack merit but have issued supplemental disclosures to mitigate litigation risks and avoid delays.

Supplemental disclosures: Additional details were provided regarding the merger process, discussions between executives and boards, financial analyses, and expected benefits, such as enhanced scale, diversity, and financial performance for the combined entity.

Merger financials and projections: Atlantic Union's financial advisors project the merger will be accretive to earnings per share by 15.5 percent in 2025 and 22.8 percent in 2026 while being dilutive to tangible book value by 8.2 percent. The report highlights plans for a capital raise and a $2 billion sale of commercial real estate loans to improve financial ratios and liquidity.

Governance changes: Post-merger, Atlantic Union plans to integrate Sandy Spring’s leadership, adding its CEO to Atlantic Union’s board and considering roles for other Sandy Spring executives.

Forward-looking statements: The filing includes cautionary statements about risks associated with the merger, including regulatory approvals, litigation outcomes, integration challenges, and market conditions. The company urges investors to review relevant SEC filings for complete information.

Atlantic Union reaffirmed its commitment to the merger and its strategic benefits while addressing shareholder concerns and potential risks. Further updates and documentation are accessible through the SEC's website and the companies' investor relations portals.

ATLANTIC UNION BANKSHARES REPORTS FOURTH QUARTER AND FULL YEAR FINANCIAL RESULTS

Richmond, Va., January 23, 2025 – Atlantic Union Bankshares Corporation (the “Company” or “Atlantic Union”) (NYSE: AUB) reported net income available to common shareholders of $54.8 million and basic and diluted earnings per common share of $0.61 and $0.60, respectively, for the fourth quarter of 2024 and adjusted operating earnings available to common shareholders(1) of $61.4 million and adjusted diluted operating earnings per common share(1) of $0.67 for the fourth quarter of 2024.


Net income available to common shareholders was $197.3 million and basic and diluted earnings per common share were $2.29 and $2.24, respectively, for the year ended December 31, 2024. Adjusted operating earnings available to common shareholders(1) were $241.3 million and adjusted diluted operating earnings per common share(1) were $2.74 for the year ended December 31, 2024.