Atlantic Union Bankshares Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

16. EARNINGS PER SHARE

Basic EPS is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS is computed using the weighted average number of common shares outstanding during the period, including the effect of dilutive potential common shares outstanding attributable to stock awards.

The following table presents basic and diluted EPS calculations for the years ended December 31, (in thousands except per share data):


	2023		2022		2021
Net Income:
Net income	$	201,818	$	234,510	$	263,917
Less: Preferred Stock Dividends		11,868		11,868		11,868
Net income available to common shareholders	$	189,950	$	222,642	$	252,049

Weighted average shares outstanding, basic		74,961		74,949		77,400
Dilutive effect of stock awards		1		4		18
Weighted average shares outstanding, diluted		74,962		74,953		77,418

Earnings per common share, basic	$	2.53	$	2.97	$	3.26
Earnings per common share, diluted	$	2.53	$	2.97	$	3.26