0000883948--12-31Q22021us-gaap:OtherAssetsus-gaap:OtherLiabilitiesus-gaap:OtherAssetsus-gaap:OtherLiabilities78841462false0000883948us-gaap:ReserveForOffBalanceSheetActivitiesMember2021-06-300000883948us-gaap:ReserveForOffBalanceSheetActivitiesMember2020-12-3100008839482020-11-300000883948us-gaap:SubsequentEventMember2021-08-0300008839482020-03-2000008839482021-05-042021-05-0400008839482019-07-102019-07-100000883948srt:MaximumMember2021-05-040000883948srt:MaximumMember2019-07-100000883948us-gaap:SubsequentEventMember2021-07-012021-08-0300008839482019-07-102020-03-200000883948us-gaap:PreferredStockMember2020-04-012020-06-300000883948aub:DepositarySharesMember2020-06-092020-06-090000883948us-gaap:RetainedEarningsMember2021-06-300000883948us-gaap:PreferredStockMember2021-06-300000883948us-gaap:CommonStockMember2021-06-300000883948us-gaap:AdditionalPaidInCapitalMember2021-06-300000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-06-300000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-06-300000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2021-06-300000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2021-06-300000883948us-gaap:RetainedEarningsMember2021-03-310000883948us-gaap:PreferredStockMember2021-03-310000883948us-gaap:CommonStockMember2021-03-310000883948us-gaap:AdditionalPaidInCapitalMember2021-03-310000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-03-310000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-03-310000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2021-03-310000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2021-03-310000883948us-gaap:RetainedEarningsMember2020-12-310000883948us-gaap:PreferredStockMember2020-12-310000883948us-gaap:CommonStockMember2020-12-310000883948us-gaap:AdditionalPaidInCapitalMember2020-12-310000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-12-310000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2020-12-310000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2020-12-310000883948us-gaap:RetainedEarningsMember2020-06-300000883948us-gaap:PreferredStockMember2020-06-300000883948us-gaap:CommonStockMember2020-06-300000883948us-gaap:AdditionalPaidInCapitalMember2020-06-300000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-06-300000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-06-300000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2020-06-300000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2020-06-300000883948srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2020-03-310000883948us-gaap:RetainedEarningsMember2020-03-310000883948us-gaap:PreferredStockMember2020-03-310000883948us-gaap:CommonStockMember2020-03-310000883948us-gaap:AdditionalPaidInCapitalMember2020-03-310000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-310000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-03-310000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-03-310000883948srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-03-310000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2020-03-310000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2020-03-310000883948us-gaap:RetainedEarningsMember2019-12-310000883948us-gaap:PreferredStockMember2019-12-310000883948us-gaap:CommonStockMember2019-12-310000883948us-gaap:AdditionalPaidInCapitalMember2019-12-310000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-310000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2019-12-310000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2019-12-310000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2019-12-310000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2019-12-310000883948us-gaap:SeriesAPreferredStockMember2020-06-092020-06-090000883948us-gaap:SeriesAPreferredStockMember2020-06-090000883948aub:DepositarySharesMemberus-gaap:SubsequentEventMember2021-07-292021-07-290000883948us-gaap:RepurchaseAgreementsMemberus-gaap:HeldtomaturitySecuritiesMember2021-06-300000883948us-gaap:RepurchaseAgreementsMemberus-gaap:AvailableforsaleSecuritiesMember2021-06-300000883948us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:HeldtomaturitySecuritiesMember2021-06-300000883948us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AvailableforsaleSecuritiesMember2021-06-300000883948us-gaap:DerivativeMemberus-gaap:HeldtomaturitySecuritiesMember2021-06-300000883948us-gaap:DerivativeMemberus-gaap:AvailableforsaleSecuritiesMember2021-06-300000883948us-gaap:DepositsMemberus-gaap:HeldtomaturitySecuritiesMember2021-06-300000883948us-gaap:DepositsMemberus-gaap:AvailableforsaleSecuritiesMember2021-06-300000883948aub:OtherPurposeMemberus-gaap:HeldtomaturitySecuritiesMember2021-06-300000883948aub:OtherPurposeMemberus-gaap:AvailableforsaleSecuritiesMember2021-06-300000883948aub:FederalFundsMemberus-gaap:HeldtomaturitySecuritiesMember2021-06-300000883948aub:FederalFundsMemberus-gaap:AvailableforsaleSecuritiesMember2021-06-300000883948us-gaap:RepurchaseAgreementsMemberus-gaap:HeldtomaturitySecuritiesMember2020-12-310000883948us-gaap:RepurchaseAgreementsMemberus-gaap:AvailableforsaleSecuritiesMember2020-12-310000883948us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:HeldtomaturitySecuritiesMember2020-12-310000883948us-gaap:FederalHomeLoanBankAdvancesMemberus-gaap:AvailableforsaleSecuritiesMember2020-12-310000883948us-gaap:DerivativeMemberus-gaap:HeldtomaturitySecuritiesMember2020-12-310000883948us-gaap:DerivativeMemberus-gaap:AvailableforsaleSecuritiesMember2020-12-310000883948us-gaap:DepositsMemberus-gaap:HeldtomaturitySecuritiesMember2020-12-310000883948us-gaap:DepositsMemberus-gaap:AvailableforsaleSecuritiesMember2020-12-310000883948aub:OtherPurposeMemberus-gaap:HeldtomaturitySecuritiesMember2020-12-310000883948aub:OtherPurposeMemberus-gaap:AvailableforsaleSecuritiesMember2020-12-310000883948aub:FederalFundsMemberus-gaap:HeldtomaturitySecuritiesMember2020-12-310000883948aub:FederalFundsMemberus-gaap:AvailableforsaleSecuritiesMember2020-12-3100008839482021-02-262021-02-260000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-04-012021-06-300000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-04-012021-06-300000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2021-04-012021-06-300000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2021-04-012021-06-300000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2021-01-012021-06-300000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-06-300000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2021-01-012021-06-300000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2021-01-012021-06-300000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-04-012020-06-300000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-04-012020-06-300000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2020-04-012020-06-300000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2020-04-012020-06-300000883948us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-06-300000883948us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember2020-01-012020-06-300000883948us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-01-012020-06-300000883948aub:UnrealizedGainLossOnBankOwnedLifeInsuranceMember2020-01-012020-06-300000883948aub:AccumulatedNetInvestmentGainLossTransferredToHeldToMaturityAttributableToParentMember2020-01-012020-06-300000883948aub:OtherCommercialMemberaub:PaycheckProtectionProgramPppMember2021-06-300000883948aub:CommercialAndIndustrialMemberaub:PaycheckProtectionProgramPppMember2021-06-300000883948aub:OtherCommercialMemberaub:PaycheckProtectionProgramPppMember2020-12-310000883948aub:CommercialAndIndustrialMemberaub:PaycheckProtectionProgramPppMember2020-12-310000883948srt:MaximumMember2021-06-300000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2021-06-300000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2021-06-300000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2021-06-300000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2021-06-300000883948us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateSwapMember2021-06-300000883948us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMember2021-06-300000883948us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMember2021-06-300000883948us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:InterestRateSwapMember2021-06-300000883948us-gaap:InterestRateSwapMember2021-06-300000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2020-12-310000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2020-12-310000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2020-12-310000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:InterestRateSwapMember2020-12-310000883948us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateSwapMember2020-12-310000883948us-gaap:FairValueInputsLevel2Memberus-gaap:InterestRateSwapMember2020-12-310000883948us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateSwapMember2020-12-310000883948us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:InterestRateSwapMember2020-12-310000883948us-gaap:InterestRateSwapMember2020-12-310000883948us-gaap:HeldtomaturitySecuritiesMember2021-01-012021-06-300000883948aub:MoodySNotRatedNonAgencyMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-06-300000883948aub:MoodySNotRatedNonAgencyMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-06-300000883948aub:MoodySNotRatedNonAgencyMemberus-gaap:MortgageBackedSecuritiesMember2021-06-300000883948aub:MoodySNotRatedAgencyMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-06-300000883948aub:MoodySNotRatedAgencyMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-06-300000883948aub:MoodySNotRatedAgencyMemberus-gaap:MortgageBackedSecuritiesMember2021-06-300000883948aub:MoodysAaaAaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-06-300000883948aub:MoodysAaaAaRatingMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-06-300000883948aub:MoodysAaaAaRatingMemberus-gaap:MortgageBackedSecuritiesMember2021-06-300000883948us-gaap:MortgageBackedSecuritiesMember2021-06-300000883948aub:MoodySNotRatedNonAgencyMember2021-06-300000883948aub:MoodySNotRatedAgencyMember2021-06-300000883948aub:MoodysAaaAaRatingMember2021-06-300000883948aub:MoodySNotRatedNonAgencyMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000883948aub:MoodySNotRatedNonAgencyMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000883948aub:MoodySNotRatedNonAgencyMemberus-gaap:MortgageBackedSecuritiesMember2020-12-310000883948aub:MoodySNotRatedAgencyMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000883948aub:MoodySNotRatedAgencyMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000883948aub:MoodySNotRatedAgencyMemberus-gaap:MortgageBackedSecuritiesMember2020-12-310000883948aub:MoodysAaaAaRatingMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000883948aub:MoodysAaaAaRatingMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000883948aub:MoodysAaaAaRatingMemberus-gaap:MortgageBackedSecuritiesMember2020-12-310000883948us-gaap:MortgageBackedSecuritiesMember2020-12-310000883948aub:MoodySNotRatedNonAgencyMember2020-12-310000883948aub:MoodySNotRatedAgencyMember2020-12-310000883948aub:MoodysAaaAaRatingMember2020-12-310000883948us-gaap:LoansMember2021-06-300000883948us-gaap:AvailableforsaleSecuritiesMember2021-06-300000883948us-gaap:LoansMember2020-12-310000883948us-gaap:AvailableforsaleSecuritiesMember2020-12-310000883948srt:MinimumMemberus-gaap:OtherIntangibleAssetsMember2021-01-012021-06-300000883948srt:MinimumMemberus-gaap:CoreDepositsMember2021-01-012021-06-300000883948srt:MaximumMemberus-gaap:OtherIntangibleAssetsMember2021-01-012021-06-300000883948srt:MaximumMemberus-gaap:CoreDepositsMember2021-01-012021-06-300000883948us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948srt:MultifamilyMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948srt:MultifamilyMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyCommercialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyCommercialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948aub:OtherCommercialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948aub:OtherCommercialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948aub:CommercialAndIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948aub:CommercialAndIndustrialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948us-gaap:ConstructionLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948srt:MultifamilyMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948srt:MultifamilyMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyCommercialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyCommercialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948aub:OtherCommercialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948aub:OtherCommercialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948aub:CommercialAndIndustrialMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948aub:CommercialAndIndustrialMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948us-gaap:ConstructionLoansMember2021-01-010000883948us-gaap:AutomobileLoanMember2021-01-010000883948srt:MultifamilyMember2021-01-010000883948aub:Residential1To4FamilyRevolvingMember2021-01-010000883948aub:Residential1To4FamilyConsumerMember2021-01-010000883948aub:Residential1To4FamilyCommercialMember2021-01-010000883948aub:ConsumerSegmentMember2021-01-010000883948aub:CommercialRealEstateOwnerOccupiedMember2021-01-010000883948aub:CommercialRealEstateNonOwnerOccupiedMember2021-01-010000883948aub:CommercialAndIndustrialMember2021-01-0100008839482021-01-010000883948us-gaap:ConstructionLoansMember2020-01-010000883948us-gaap:AutomobileLoanMember2020-01-010000883948srt:MultifamilyMember2020-01-010000883948aub:Residential1To4FamilyRevolvingMember2020-01-010000883948aub:Residential1To4FamilyConsumerMember2020-01-010000883948aub:Residential1To4FamilyCommercialMember2020-01-010000883948aub:OtherCommercialMember2020-01-010000883948aub:ConsumerSegmentMember2020-01-010000883948aub:CommercialRealEstateOwnerOccupiedMember2020-01-010000883948aub:CommercialRealEstateNonOwnerOccupiedMember2020-01-010000883948aub:CommercialAndIndustrialMember2020-01-0100008839482020-01-010000883948us-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948us-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948us-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948us-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-06-300000883948us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2021-06-300000883948us-gaap:ConsumerPortfolioSegmentMemberaub:FinancingReceivablesInNonaccrualStatusMember2021-06-300000883948us-gaap:ConstructionLoansMemberus-gaap:SubstandardMember2021-06-300000883948us-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMember2021-06-300000883948us-gaap:ConstructionLoansMemberus-gaap:PassMember2021-06-300000883948us-gaap:ConstructionLoansMemberaub:WatchMember2021-06-300000883948us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2021-06-300000883948us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2021-06-300000883948us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2021-06-300000883948us-gaap:CommercialPortfolioSegmentMemberaub:WatchMember2021-06-300000883948us-gaap:AutomobileLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-06-300000883948us-gaap:AutomobileLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948us-gaap:AutomobileLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948us-gaap:AutomobileLoanMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2021-06-300000883948us-gaap:AutomobileLoanMemberaub:FinancingReceivablesInNonaccrualStatusMember2021-06-300000883948srt:MultifamilyMemberus-gaap:SubstandardMember2021-06-300000883948srt:MultifamilyMemberus-gaap:SpecialMentionMember2021-06-300000883948srt:MultifamilyMemberus-gaap:PassMember2021-06-300000883948srt:MultifamilyMemberaub:WatchMember2021-06-300000883948aub:Residential1To4FamilyRevolvingMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyRevolvingMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyRevolvingMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyRevolvingMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyRevolvingMemberaub:FinancingReceivablesInNonaccrualStatusMember2021-06-300000883948aub:Residential1To4FamilyConsumerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyConsumerMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyConsumerMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyConsumerMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2021-06-300000883948aub:Residential1To4FamilyConsumerMemberaub:FinancingReceivablesInNonaccrualStatusMember2021-06-300000883948aub:Residential1To4FamilyCommercialMemberus-gaap:SubstandardMember2021-06-300000883948aub:Residential1To4FamilyCommercialMemberus-gaap:SpecialMentionMember2021-06-300000883948aub:Residential1To4FamilyCommercialMemberus-gaap:PassMember2021-06-300000883948aub:Residential1To4FamilyCommercialMemberaub:WatchMember2021-06-300000883948aub:OtherCommercialMemberus-gaap:SubstandardMember2021-06-300000883948aub:OtherCommercialMemberus-gaap:SpecialMentionMember2021-06-300000883948aub:OtherCommercialMemberus-gaap:PassMember2021-06-300000883948aub:OtherCommercialMemberaub:WatchMember2021-06-300000883948aub:ConsumerSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-06-300000883948aub:ConsumerSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-06-300000883948aub:ConsumerSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-06-300000883948aub:ConsumerSegmentMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2021-06-300000883948aub:ConsumerSegmentMemberaub:FinancingReceivablesInNonaccrualStatusMember2021-06-300000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:SubstandardMember2021-06-300000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2021-06-300000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:PassMember2021-06-300000883948aub:CommercialRealEstateOwnerOccupiedMemberaub:WatchMember2021-06-300000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SubstandardMember2021-06-300000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SpecialMentionMember2021-06-300000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:PassMember2021-06-300000883948aub:CommercialRealEstateNonOwnerOccupiedMemberaub:WatchMember2021-06-300000883948aub:CommercialAndIndustrialMemberus-gaap:SubstandardMember2021-06-300000883948aub:CommercialAndIndustrialMemberus-gaap:SpecialMentionMember2021-06-300000883948aub:CommercialAndIndustrialMemberus-gaap:PassMember2021-06-300000883948aub:CommercialAndIndustrialMemberaub:WatchMember2021-06-300000883948aub:OtherCommercialMember2021-06-300000883948us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000883948us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948us-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2020-12-310000883948us-gaap:ConsumerPortfolioSegmentMemberaub:FinancingReceivablesInNonaccrualStatusMember2020-12-310000883948us-gaap:ConstructionLoansMemberus-gaap:SubstandardMember2020-12-310000883948us-gaap:ConstructionLoansMemberus-gaap:SpecialMentionMember2020-12-310000883948us-gaap:ConstructionLoansMemberus-gaap:PassMember2020-12-310000883948us-gaap:ConstructionLoansMemberaub:WatchMember2020-12-310000883948us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMember2020-12-310000883948us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMember2020-12-310000883948us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMember2020-12-310000883948us-gaap:CommercialPortfolioSegmentMemberaub:WatchMember2020-12-310000883948us-gaap:AutomobileLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000883948us-gaap:AutomobileLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948us-gaap:AutomobileLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948us-gaap:AutomobileLoanMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2020-12-310000883948us-gaap:AutomobileLoanMemberaub:FinancingReceivablesInNonaccrualStatusMember2020-12-310000883948srt:MultifamilyMemberus-gaap:SubstandardMember2020-12-310000883948srt:MultifamilyMemberus-gaap:SpecialMentionMember2020-12-310000883948srt:MultifamilyMemberus-gaap:PassMember2020-12-310000883948srt:MultifamilyMemberaub:WatchMember2020-12-310000883948aub:Residential1To4FamilyRevolvingMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyRevolvingMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyRevolvingMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyRevolvingMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyRevolvingMemberaub:FinancingReceivablesInNonaccrualStatusMember2020-12-310000883948aub:Residential1To4FamilyConsumerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyConsumerMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyConsumerMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyConsumerMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2020-12-310000883948aub:Residential1To4FamilyConsumerMemberaub:FinancingReceivablesInNonaccrualStatusMember2020-12-310000883948aub:Residential1To4FamilyCommercialMemberus-gaap:SubstandardMember2020-12-310000883948aub:Residential1To4FamilyCommercialMemberus-gaap:SpecialMentionMember2020-12-310000883948aub:Residential1To4FamilyCommercialMemberus-gaap:PassMember2020-12-310000883948aub:Residential1To4FamilyCommercialMemberaub:WatchMember2020-12-310000883948aub:OtherCommercialMemberus-gaap:SpecialMentionMember2020-12-310000883948aub:OtherCommercialMemberus-gaap:PassMember2020-12-310000883948aub:OtherCommercialMemberaub:WatchMember2020-12-310000883948aub:ConsumerSegmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000883948aub:ConsumerSegmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000883948aub:ConsumerSegmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000883948aub:ConsumerSegmentMemberus-gaap:FinancingReceivables1To29DaysPastDueMember2020-12-310000883948aub:ConsumerSegmentMemberaub:FinancingReceivablesInNonaccrualStatusMember2020-12-310000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:SubstandardMember2020-12-310000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:SpecialMentionMember2020-12-310000883948aub:CommercialRealEstateOwnerOccupiedMemberus-gaap:PassMember2020-12-310000883948aub:CommercialRealEstateOwnerOccupiedMemberaub:WatchMember2020-12-310000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SubstandardMember2020-12-310000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:SpecialMentionMember2020-12-310000883948aub:CommercialRealEstateNonOwnerOccupiedMemberus-gaap:PassMember2020-12-310000883948aub:CommercialRealEstateNonOwnerOccupiedMemberaub:WatchMember2020-12-310000883948aub:CommercialAndIndustrialMemberus-gaap:SubstandardMember2020-12-310000883948aub:CommercialAndIndustrialMemberus-gaap:SpecialMentionMember2020-12-310000883948aub:CommercialAndIndustrialMemberus-gaap:PassMember2020-12-310000883948aub:CommercialAndIndustrialMemberaub:WatchMember2020-12-310000883948us-gaap:ConstructionLoansMember2021-06-300000883948us-gaap:AutomobileLoanMember2021-06-300000883948srt:MultifamilyMember2021-06-300000883948aub:Residential1To4FamilyRevolvingMember2021-06-300000883948aub:Residential1To4FamilyConsumerMember2021-06-300000883948aub:Residential1To4FamilyCommercialMember2021-06-300000883948aub:ConsumerSegmentMember2021-06-300000883948aub:CommercialRealEstateOwnerOccupiedMember2021-06-300000883948aub:CommercialRealEstateNonOwnerOccupiedMember2021-06-300000883948aub:CommercialAndIndustrialMember2021-06-300000883948us-gaap:ConstructionLoansMember2020-12-310000883948us-gaap:AutomobileLoanMember2020-12-310000883948srt:MultifamilyMember2020-12-310000883948aub:Residential1To4FamilyRevolvingMember2020-12-310000883948aub:Residential1To4FamilyConsumerMember2020-12-310000883948aub:Residential1To4FamilyCommercialMember2020-12-310000883948aub:OtherCommercialMember2020-12-310000883948aub:ConsumerSegmentMember2020-12-310000883948aub:CommercialRealEstateOwnerOccupiedMember2020-12-310000883948aub:CommercialRealEstateNonOwnerOccupiedMember2020-12-310000883948aub:CommercialAndIndustrialMember2020-12-310000883948aub:TroubledDebtRestructuringsMember2021-06-300000883948aub:TroubledDebtRestructuringsMember2020-12-310000883948us-gaap:ConsumerPortfolioSegmentMember2021-04-012021-06-300000883948us-gaap:CommercialPortfolioSegmentMember2021-04-012021-06-300000883948us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-06-300000883948us-gaap:CommercialPortfolioSegmentMember2021-01-012021-06-300000883948us-gaap:ConsumerPortfolioSegmentMember2020-04-012020-06-300000883948us-gaap:CommercialPortfolioSegmentMember2020-04-012020-06-300000883948us-gaap:ConsumerPortfolioSegmentMember2021-06-300000883948us-gaap:CommercialPortfolioSegmentMember2021-06-300000883948us-gaap:ConsumerPortfolioSegmentMember2021-03-310000883948us-gaap:CommercialPortfolioSegmentMember2021-03-3100008839482021-03-310000883948us-gaap:ConsumerPortfolioSegmentMember2020-12-310000883948us-gaap:CommercialPortfolioSegmentMember2020-12-310000883948us-gaap:ConsumerPortfolioSegmentMember2020-06-300000883948us-gaap:CommercialPortfolioSegmentMember2020-06-300000883948us-gaap:ConsumerPortfolioSegmentMember2020-03-310000883948us-gaap:CommercialPortfolioSegmentMember2020-03-3100008839482020-03-310000883948us-gaap:ConsumerPortfolioSegmentMember2019-12-310000883948us-gaap:CommercialPortfolioSegmentMember2019-12-310000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-300000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-300000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-06-300000883948us-gaap:FairValueMeasurementsRecurringMember2021-06-300000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000883948us-gaap:FairValueMeasurementsRecurringMember2020-12-310000883948us-gaap:StandbyLettersOfCreditMember2021-06-300000883948us-gaap:CommitmentsToExtendCreditMember2021-06-300000883948us-gaap:StandbyLettersOfCreditMember2020-12-310000883948us-gaap:CommitmentsToExtendCreditMember2020-12-310000883948us-gaap:RetainedEarningsMember2021-04-012021-06-300000883948us-gaap:RetainedEarningsMember2021-01-012021-03-310000883948us-gaap:RetainedEarningsMember2020-04-012020-06-300000883948us-gaap:RetainedEarningsMember2020-01-012020-03-310000883948us-gaap:SeriesAPreferredStockMemberus-gaap:SubsequentEventMember2021-07-292021-07-290000883948us-gaap:CashFlowHedgingMember2020-01-012020-06-300000883948us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-300000883948us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-06-300000883948aub:PayFloatingReceiveFixedInterestRateSwapsMemberus-gaap:NondesignatedMember2021-06-300000883948aub:PayFixedReceiveFloatingInterestRateSwapsMemberus-gaap:NondesignatedMember2021-06-300000883948us-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000883948us-gaap:CashFlowHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000883948aub:PayFloatingReceiveFixedInterestRateSwapsMemberus-gaap:NondesignatedMember2020-12-310000883948aub:PayFixedReceiveFloatingInterestRateSwapsMemberus-gaap:NondesignatedMember2020-12-310000883948us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2021-06-300000883948us-gaap:FairValueHedgingMember2021-06-300000883948us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2020-12-310000883948us-gaap:FairValueHedgingMember2020-12-310000883948us-gaap:AvailableforsaleSecuritiesMember2021-01-012021-06-300000883948us-gaap:SubordinatedDebtMember2020-12-310000883948aub:VfgLimitedLiabilityTrustIIndentureMember2021-01-012021-06-300000883948aub:SubordinateDebt2026Member2021-01-012021-06-300000883948aub:StatutoryTrustTwoMember2021-01-012021-06-300000883948aub:StatutoryTrustOneMember2021-01-012021-06-300000883948aub:MFCCapitalTrustIIMember2021-01-012021-06-300000883948aub:GatewayCapitalStatutoryTrustIVMember2021-01-012021-06-300000883948aub:GatewayCapitalStatutoryTrustIMember2021-01-012021-06-300000883948aub:GatewayCapitalStatutoryTrustIIMember2021-01-012021-06-300000883948aub:GatewayCapitalStatutoryTrustIIIMember2021-01-012021-06-300000883948aub:FnbStatutoryTrustIiIndentureMember2021-01-012021-06-300000883948aub:VfgLimitedLiabilityTrustIIndentureMember2020-01-012020-12-310000883948aub:SubordinateDebt2026Member2020-01-012020-12-310000883948aub:StatutoryTrustTwoMember2020-01-012020-12-310000883948aub:StatutoryTrustOneMember2020-01-012020-12-310000883948aub:MFCCapitalTrustIIMember2020-01-012020-12-310000883948aub:GatewayCapitalStatutoryTrustIVMember2020-01-012020-12-310000883948aub:GatewayCapitalStatutoryTrustIMember2020-01-012020-12-310000883948aub:GatewayCapitalStatutoryTrustIIMember2020-01-012020-12-310000883948aub:GatewayCapitalStatutoryTrustIIIMember2020-01-012020-12-310000883948aub:FnbStatutoryTrustIiIndentureMember2020-01-012020-12-310000883948aub:FixedRateConvertibleMember2020-01-012020-12-310000883948aub:SubordinateDebt2026Member2021-06-300000883948aub:SubordinateDebt2026Member2020-12-310000883948aub:FixedRateConvertibleMember2020-12-310000883948us-gaap:ScenarioPlanMemberaub:SubordinateDebt2026Memberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948aub:VfgLimitedLiabilityTrustIIndentureMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948aub:StatutoryTrustTwoMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948aub:StatutoryTrustOneMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948aub:MFCCapitalTrustIIMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948aub:GatewayCapitalStatutoryTrustIVMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948aub:GatewayCapitalStatutoryTrustIMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948aub:GatewayCapitalStatutoryTrustIIMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948aub:GatewayCapitalStatutoryTrustIIIMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948aub:FnbStatutoryTrustIiIndentureMemberus-gaap:LondonInterbankOfferedRateLIBORMember2021-01-012021-06-300000883948us-gaap:ScenarioPlanMemberaub:SubordinateDebt2026Memberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948aub:VfgLimitedLiabilityTrustIIndentureMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948aub:StatutoryTrustTwoMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948aub:StatutoryTrustOneMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948aub:MFCCapitalTrustIIMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948aub:GatewayCapitalStatutoryTrustIVMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948aub:GatewayCapitalStatutoryTrustIMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948aub:GatewayCapitalStatutoryTrustIIMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948aub:GatewayCapitalStatutoryTrustIIIMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948aub:FnbStatutoryTrustIiIndentureMemberus-gaap:LondonInterbankOfferedRateLIBORMember2020-01-012020-12-310000883948us-gaap:CommonClassAMemberus-gaap:SubsequentEventMember2021-07-292021-07-290000883948us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2021-01-012021-06-300000883948us-gaap:FairValueHedgingMember2021-01-012021-06-300000883948us-gaap:AvailableforsaleSecuritiesMember2021-01-012021-06-300000883948us-gaap:AvailableforsaleSecuritiesMemberus-gaap:FairValueHedgingMember2020-01-012020-12-310000883948us-gaap:FairValueHedgingMember2020-01-012020-12-310000883948us-gaap:AvailableforsaleSecuritiesMember2020-01-012020-12-3100008839482020-06-3000008839482019-12-310000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-06-300000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-06-300000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-06-300000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2021-06-300000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2021-06-300000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-06-300000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-06-300000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-06-300000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2021-06-300000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2021-06-300000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-06-300000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-06-300000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-06-300000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2021-06-300000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2021-06-300000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2021-06-300000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-06-300000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2021-06-300000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2021-06-300000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2021-06-300000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2020-12-310000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2020-12-310000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2020-12-310000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:MortgageBackedSecuritiesMember2020-12-310000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CorporateBondSecuritiesMember2020-12-310000883948us-gaap:FairValueMeasurementsRecurringMemberus-gaap:CollateralizedSecuritiesOtherMember2020-12-310000883948us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AgencySecuritiesMember2021-06-300000883948us-gaap:ResidentialMortgageBackedSecuritiesMemberaub:NonAgencySecuritiesMember2021-06-300000883948us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AgencySecuritiesMember2021-06-300000883948us-gaap:CommercialMortgageBackedSecuritiesMemberaub:NonAgencySecuritiesMember2021-06-300000883948us-gaap:USStatesAndPoliticalSubdivisionsMember2021-06-300000883948us-gaap:USGovernmentAgenciesDebtSecuritiesMember2021-06-300000883948us-gaap:ResidentialMortgageBackedSecuritiesMember2021-06-300000883948us-gaap:CorporateBondSecuritiesMember2021-06-300000883948us-gaap:CommercialMortgageBackedSecuritiesMember2021-06-300000883948us-gaap:CollateralizedSecuritiesOtherMember2021-06-300000883948us-gaap:ResidentialMortgageBackedSecuritiesMemberus-gaap:AgencySecuritiesMember2020-12-310000883948us-gaap:ResidentialMortgageBackedSecuritiesMemberaub:NonAgencySecuritiesMember2020-12-310000883948us-gaap:CommercialMortgageBackedSecuritiesMemberus-gaap:AgencySecuritiesMember2020-12-310000883948us-gaap:CommercialMortgageBackedSecuritiesMemberaub:NonAgencySecuritiesMember2020-12-310000883948us-gaap:USStatesAndPoliticalSubdivisionsMember2020-12-310000883948us-gaap:USGovernmentAgenciesDebtSecuritiesMember2020-12-310000883948us-gaap:ResidentialMortgageBackedSecuritiesMember2020-12-310000883948us-gaap:CorporateBondSecuritiesMember2020-12-310000883948us-gaap:CommercialMortgageBackedSecuritiesMember2020-12-310000883948us-gaap:CollateralizedSecuritiesOtherMember2020-12-310000883948us-gaap:FairValueMeasurementsNonrecurringMember2021-06-300000883948us-gaap:FairValueMeasurementsNonrecurringMember2020-12-310000883948us-gaap:HeldtomaturitySecuritiesMember2021-06-300000883948us-gaap:HeldtomaturitySecuritiesMember2020-12-310000883948us-gaap:FairValueInputsLevel3Member2021-06-300000883948us-gaap:FairValueInputsLevel2Member2021-06-300000883948us-gaap:FairValueInputsLevel1Member2021-06-300000883948us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-06-300000883948us-gaap:FairValueInputsLevel3Member2020-12-310000883948us-gaap:FairValueInputsLevel2Member2020-12-310000883948us-gaap:FairValueInputsLevel1Member2020-12-310000883948us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310000883948us-gaap:CommonClassAMember2021-01-012021-06-3000008839482021-07-290000883948us-gaap:MortgageBackedSecuritiesIssuedByPrivateEnterprisesMember2021-01-012021-06-300000883948aub:DepositarySharesMember2020-06-090000883948us-gaap:SeriesAPreferredStockMember2021-01-012021-06-300000883948us-gaap:SubordinatedDebtMember2021-06-300000883948aub:TrustPreferredCapitalNotesMember2021-06-300000883948srt:MinimumMember2021-01-012021-06-300000883948srt:MaximumMember2021-01-012021-06-300000883948us-gaap:CommonStockMember2021-04-012021-06-300000883948us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300000883948us-gaap:CommonStockMember2021-01-012021-03-310000883948us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-3100008839482021-01-012021-03-310000883948us-gaap:CommonStockMember2020-04-012020-06-300000883948us-gaap:AdditionalPaidInCapitalMember2020-04-012020-06-300000883948us-gaap:CommonStockMember2020-01-012020-03-310000883948us-gaap:AdditionalPaidInCapitalMember2020-01-012020-03-3100008839482020-01-012020-03-310000883948aub:VfgLimitedLiabilityTrustIIndentureMember2021-06-300000883948aub:StatutoryTrustTwoMember2021-06-300000883948aub:StatutoryTrustOneMember2021-06-300000883948aub:MFCCapitalTrustIIMember2021-06-300000883948aub:GatewayCapitalStatutoryTrustIVMember2021-06-300000883948aub:GatewayCapitalStatutoryTrustIMember2021-06-300000883948aub:GatewayCapitalStatutoryTrustIIMember2021-06-300000883948aub:GatewayCapitalStatutoryTrustIIIMember2021-06-300000883948aub:FnbStatutoryTrustIiIndentureMember2021-06-300000883948aub:VfgLimitedLiabilityTrustIIndentureMember2020-12-310000883948aub:StatutoryTrustTwoMember2020-12-310000883948aub:StatutoryTrustOneMember2020-12-310000883948aub:MFCCapitalTrustIIMember2020-12-310000883948aub:GatewayCapitalStatutoryTrustIVMember2020-12-310000883948aub:GatewayCapitalStatutoryTrustIMember2020-12-310000883948aub:GatewayCapitalStatutoryTrustIIMember2020-12-310000883948aub:GatewayCapitalStatutoryTrustIIIMember2020-12-310000883948aub:FnbStatutoryTrustIiIndentureMember2020-12-310000883948us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-04-012021-06-300000883948us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-01-012021-06-300000883948us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-04-012020-06-300000883948us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-01-012020-06-300000883948aub:Residential1To4FamilyConsumerMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2021-04-012021-06-300000883948aub:Residential1To4FamilyConsumerMemberaub:TroubleDebtRestructuringTermModificationAtMarketRateMember2021-04-012021-06-300000883948aub:Residential1To4FamilyCommercialMemberus-gaap:InterestRateBelowMarketReductionMember2021-04-012021-06-300000883948aub:ConsumerSegmentMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2021-04-012021-06-300000883948us-gaap:InterestRateBelowMarketReductionMember2021-04-012021-06-300000883948aub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2021-04-012021-06-300000883948aub:TroubleDebtRestructuringTermModificationAtMarketRateMember2021-04-012021-06-300000883948aub:ModifiedToInterestOnlyAtMarketRateMember2021-04-012021-06-300000883948aub:Residential1To4FamilyConsumerMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2021-01-012021-06-300000883948aub:Residential1To4FamilyConsumerMemberaub:TroubleDebtRestructuringTermModificationAtMarketRateMember2021-01-012021-06-300000883948aub:Residential1To4FamilyCommercialMemberus-gaap:InterestRateBelowMarketReductionMember2021-01-012021-06-300000883948aub:ConsumerSegmentMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2021-01-012021-06-300000883948us-gaap:InterestRateBelowMarketReductionMember2021-01-012021-06-300000883948aub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2021-01-012021-06-300000883948aub:TroubleDebtRestructuringTermModificationAtMarketRateMember2021-01-012021-06-300000883948aub:ModifiedToInterestOnlyAtMarketRateMember2021-01-012021-06-300000883948us-gaap:ConstructionLoansMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2020-04-012020-06-300000883948aub:Residential1To4FamilyRevolvingMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2020-04-012020-06-300000883948aub:Residential1To4FamilyConsumerMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2020-04-012020-06-300000883948aub:Residential1To4FamilyConsumerMemberaub:TroubleDebtRestructuringTermModificationAtMarketRateMember2020-04-012020-06-300000883948aub:ConsumerSegmentMemberaub:TroubleDebtRestructuringTermModificationAtMarketRateMember2020-04-012020-06-300000883948aub:CommercialAndIndustrialMemberaub:TroubleDebtRestructuringTermModificationAtMarketRateMember2020-04-012020-06-300000883948us-gaap:InterestRateBelowMarketReductionMember2020-04-012020-06-300000883948aub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2020-04-012020-06-300000883948aub:TroubleDebtRestructuringTermModificationAtMarketRateMember2020-04-012020-06-300000883948aub:ModifiedToInterestOnlyAtMarketRateMember2020-04-012020-06-300000883948us-gaap:ConstructionLoansMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2020-01-012020-06-300000883948aub:Residential1To4FamilyRevolvingMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2020-01-012020-06-300000883948aub:Residential1To4FamilyConsumerMemberaub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2020-01-012020-06-300000883948aub:Residential1To4FamilyConsumerMemberaub:TroubleDebtRestructuringTermModificationAtMarketRateMember2020-01-012020-06-300000883948aub:ConsumerSegmentMemberaub:TroubleDebtRestructuringTermModificationAtMarketRateMember2020-01-012020-06-300000883948aub:CommercialAndIndustrialMemberaub:TroubleDebtRestructuringTermModificationAtMarketRateMember2020-01-012020-06-300000883948us-gaap:InterestRateBelowMarketReductionMember2020-01-012020-06-300000883948aub:TroubleDebtRestructuringTermModificationBelowMarketRateMember2020-01-012020-06-300000883948aub:TroubleDebtRestructuringTermModificationAtMarketRateMember2020-01-012020-06-300000883948aub:ModifiedToInterestOnlyAtMarketRateMember2020-01-012020-06-300000883948us-gaap:PerformingFinancingReceivableMemberus-gaap:ConstructionLoansMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMemberaub:Residential1To4FamilyRevolvingMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMemberaub:Residential1To4FamilyConsumerMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMemberaub:Residential1To4FamilyCommercialMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMemberaub:OtherCommercialMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMemberaub:ConsumerSegmentMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMemberaub:CommercialRealEstateOwnerOccupiedMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMemberaub:CommercialRealEstateNonOwnerOccupiedMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMemberaub:CommercialAndIndustrialMember2021-06-300000883948us-gaap:NonperformingFinancingReceivableMemberaub:Residential1To4FamilyRevolvingMember2021-06-300000883948us-gaap:NonperformingFinancingReceivableMemberaub:Residential1To4FamilyConsumerMember2021-06-300000883948us-gaap:NonperformingFinancingReceivableMemberaub:Residential1To4FamilyCommercialMember2021-06-300000883948us-gaap:NonperformingFinancingReceivableMemberaub:CommercialRealEstateOwnerOccupiedMember2021-06-300000883948us-gaap:NonperformingFinancingReceivableMemberaub:CommercialRealEstateNonOwnerOccupiedMember2021-06-300000883948us-gaap:NonperformingFinancingReceivableMemberaub:CommercialAndIndustrialMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMember2021-06-300000883948us-gaap:NonperformingFinancingReceivableMember2021-06-300000883948us-gaap:PerformingFinancingReceivableMemberus-gaap:ConstructionLoansMember2020-12-310000883948us-gaap:PerformingFinancingReceivableMemberaub:Residential1To4FamilyRevolvingMember2020-12-310000883948us-gaap:PerformingFinancingReceivableMemberaub:Residential1To4FamilyConsumerMember2020-12-310000883948us-gaap:PerformingFinancingReceivableMemberaub:Residential1To4FamilyCommercialMember2020-12-310000883948us-gaap:PerformingFinancingReceivableMemberaub:OtherCommercialMember2020-12-310000883948us-gaap:PerformingFinancingReceivableMemberaub:ConsumerSegmentMember2020-12-310000883948us-gaap:PerformingFinancingReceivableMemberaub:CommercialRealEstateOwnerOccupiedMember2020-12-310000883948us-gaap:PerformingFinancingReceivableMemberaub:CommercialRealEstateNonOwnerOccupiedMember2020-12-310000883948us-gaap:PerformingFinancingReceivableMemberaub:CommercialAndIndustrialMember2020-12-310000883948us-gaap:NonperformingFinancingReceivableMemberaub:Residential1To4FamilyRevolvingMember2020-12-310000883948us-gaap:NonperformingFinancingReceivableMemberaub:Residential1To4FamilyConsumerMember2020-12-310000883948us-gaap:NonperformingFinancingReceivableMemberaub:Residential1To4FamilyCommercialMember2020-12-310000883948us-gaap:NonperformingFinancingReceivableMemberaub:CommercialRealEstateOwnerOccupiedMember2020-12-310000883948us-gaap:NonperformingFinancingReceivableMemberaub:CommercialRealEstateNonOwnerOccupiedMember2020-12-310000883948us-gaap:NonperformingFinancingReceivableMemberaub:CommercialAndIndustrialMember2020-12-310000883948us-gaap:PerformingFinancingReceivableMember2020-12-310000883948us-gaap:NonperformingFinancingReceivableMember2020-12-310000883948us-gaap:ConsumerPortfolioSegmentMember2020-01-012020-06-300000883948us-gaap:CommercialPortfolioSegmentMember2020-01-012020-06-300000883948aub:OverdraftFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-04-012021-06-300000883948aub:MaintenanceFeesOtherMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-04-012021-06-300000883948aub:OverdraftFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-01-012021-06-300000883948aub:MaintenanceFeesOtherMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-01-012021-06-300000883948aub:OverdraftFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-04-012020-06-300000883948aub:MaintenanceFeesOtherMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-04-012020-06-300000883948aub:OverdraftFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-01-012020-06-300000883948aub:MaintenanceFeesOtherMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-01-012020-06-3000008839482020-01-012020-12-310000883948us-gaap:CashFlowHedgingMember2021-06-300000883948us-gaap:CashFlowHedgingMember2020-12-310000883948us-gaap:AvailableforsaleSecuritiesMember2021-06-300000883948us-gaap:AvailableforsaleSecuritiesMember2020-12-310000883948us-gaap:SubsequentEventMember2021-07-292021-07-290000883948us-gaap:RepurchaseAgreementsMember2021-06-300000883948us-gaap:FederalHomeLoanBankAdvancesMember2021-06-300000883948us-gaap:DerivativeMember2021-06-300000883948us-gaap:DepositsMember2021-06-300000883948aub:OtherPurposeMember2021-06-300000883948aub:FederalFundsMember2021-06-3000008839482021-06-300000883948us-gaap:RepurchaseAgreementsMember2020-12-310000883948us-gaap:FederalHomeLoanBankAdvancesMember2020-12-310000883948us-gaap:DerivativeMember2020-12-310000883948us-gaap:DepositsMember2020-12-310000883948aub:OtherPurposeMember2020-12-310000883948aub:FederalFundsMember2020-12-3100008839482020-12-310000883948aub:TrustAssetManagementFeesMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-04-012021-06-300000883948aub:RegisteredAdvisorManagementFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-04-012021-06-300000883948aub:BrokerageManagementFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-04-012021-06-3000008839482021-04-012021-06-300000883948aub:TrustAssetManagementFeesMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-01-012021-06-300000883948aub:RegisteredAdvisorManagementFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-01-012021-06-300000883948aub:BrokerageManagementFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2021-01-012021-06-300000883948aub:TrustAssetManagementFeesMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-04-012020-06-300000883948aub:RegisteredAdvisorManagementFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-04-012020-06-300000883948aub:BrokerageManagementFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-04-012020-06-3000008839482020-04-012020-06-300000883948aub:TrustAssetManagementFeesMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-01-012020-06-300000883948aub:RegisteredAdvisorManagementFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-01-012020-06-300000883948aub:BrokerageManagementFeesNetMemberus-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member2020-01-012020-06-3000008839482020-01-012020-06-3000008839482021-01-012021-06-30iso4217:USDiso4217:USDxbrli:sharesxbrli:pureaub:securityaub:loanaub:itemxbrli:sharesaub:lease

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended June 30, 2021

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number: 001-39325

ATLANTIC UNION BANKSHARES CORPORATION

(Exact name of registrant as specified in its charter)

Virginia

54-1598552

(State or other jurisdiction of

(I.R.S. Employer

incorporation or organization)

Identification No.)

1051 East Cary Street

Suite 1200

Richmond, Virginia 23219

(Address of principal executive offices) (Zip Code)

(804) 633-5031

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

    

Trading symbol(s)

    

Name of each exchange on which registered

Common Stock, par value $1.33 per share

AUB

The NASDAQ Global Select Market

Depositary Shares, Each Representing a 1/400th Interest in a Share of 6.875% Perpetual Non-Cumulative Preferred Stock, Series A

AUBAP

The NASDAQ Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.              Yes No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).            Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes No

The number of shares of common stock outstanding as of July 29, 2021 was 76,904,963.

Table of Contents

ATLANTIC UNION BANKSHARES CORPORATION

FORM 10-Q

INDEX

ITEM

    

    

PAGE

PART I - FINANCIAL INFORMATION

Item 1.

Financial Statements

Consolidated Balance Sheets as of June 30, 2021 (unaudited) and December 31, 2020 (audited)

2

Consolidated Statements of Income (unaudited) for the three and six months ended June 30, 2021 and 2020

3

Consolidated Statements of Comprehensive Income (unaudited) for the three and six months ended June 30, 2021 and 2020

4

Consolidated Statements of Changes in Stockholders’ Equity (unaudited) for the three and six months ended June 30, 2021 and 2020

5

Consolidated Statements of Cash Flows (unaudited) for the six months ended June 30, 2021 and 2020

6

Notes to Consolidated Financial Statements (unaudited)

8

Review Report of Independent Registered Public Accounting Firm

50

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

51

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

82

Item 4.

Controls and Procedures

84

PART II - OTHER INFORMATION

Item 1.

Legal Proceedings

86

Item 1A.

Risk Factors

86

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

86

Item 6.

Exhibits

87

Signatures

88

Table of Contents

Glossary of Acronyms and Defined Terms

2020 Form 10-K

Annual Report on Form 10-K for the year ended December 31, 2020

Access

Access National Corporation and its subsidiaries

ACL

Allowance for credit losses

AFS

Available for sale

ALCO

Asset Liability Committee

ALLL

Allowance for loan and lease losses, a component of ACL

AOCI

Accumulated other comprehensive income (loss)

ASC

Accounting Standards Codification

ASC 326

ASU 2016-13, Financial Instruments and Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

ASC 820

ASC 820, Fair Value Measurements and Disclosures

ASU

Accounting Standards Update

ATM

Automated teller machine

the Bank

Atlantic Union Bank (formerly, Union Bank & Trust)

BOLI

Bank-owned life insurance

bps

Basis points

CAA

Consolidated Appropriations Act, 2021

CARES Act

Coronavirus Aid, Relief, and Economic Security Act

CECL

Current expected credit losses

the Company

Atlantic Union Bankshares Corporation (formerly, Union Bankshares Corporation) and its subsidiaries

COVID-19

COVID-19 global pandemic

depositary shares

Depositary shares, each representing a 1/400th ownership interest in a share of the Company’s Series A preferred stock, with a liquidation preference of $10,000 per share of Series A preferred stock (equivalent to $25 per depositary share)

EPS

Earnings per common share

Exchange Act

Securities Exchange Act of 1934, as amended

FASB

Financial Accounting Standards Board

FCMs

Futures Commission Merchants

FDIC

Federal Deposit Insurance Corporation

Federal Reserve

Board of Governors of the Federal Reserve System

Federal Reserve Act

Federal Reserve Act of 1913, as amended

Federal Reserve Bank or

FRB

Federal Reserve Bank of Richmond

FHLB

Federal Home Loan Bank of Atlanta

FHLMC

Federal Home Loan Mortgage Corporation

FNMA

Federal National Mortgage Association

FOMC

Federal Open Markets Committee

FTE

Fully taxable equivalent

GAAP or U.S. GAAP

Accounting principles generally accepted in the United States

GNMA

Government National Mortgage Association

HTM

Held to maturity

ICE Data Services

Intercontinental Exchange Data Services

the Joint Guidance

The five federal bank regulatory agencies and the Conference of State Bank Supervisors guidance issued on March 22, 2020 (subsequently revised on April 7, 2020)

LIBOR

London Interbank Offered Rate

MD&A

Management’s Discussion and Analysis of Financial Condition and Results of Operations

NOW

Negotiable order of withdrawal

NPA

Nonperforming assets

NSF

Nonsufficient funds

Table of Contents

OCI

Other comprehensive income

OREO

Other real estate owned

OTC

Over-the-counter

PCD

Purchased credit deteriorated

PD/LGD

Probability of default/loss given default

PPPLF

Paycheck Protection Program Liquidity Facility

PPP

Paycheck Protection Program

PPP Round One

Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act

PPP Round Two

Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act, as amended by the Consolidated Appropriations Act, 2021

Quarterly Report

Quarterly Report on Form 10-Q for the quarter ended June 30, 2021

Repurchase Program

The share repurchase program, approved on May 4, 2021 by the Company’s Board of Directors, which authorizes the Company to purchase up to $125 million worth of the Company’s common stock

ROA

Return on average assets

ROE

Return on average common equity

ROU Asset

Right of Use Asset

RUC

Reserve for unfunded commitments

RVI

Residual value insurance

SBA

Small Business Administration

SEC

Securities and Exchange Commission

Series A preferred stock

6.875% Perpetual Non-Cumulative Preferred Stock, Series A, par value $10.00 per share

SSFA

Simplified supervisory formula approach

TDR

Troubled debt restructuring

Topic 606

ASU No. 2014-09, “Revenue from Contracts with Customers: Topic 606”

Topic 740

ASU 2019-12, “Income Taxes: Simplifying the Accounting for Income Taxes”

Topic 848

ASU 2020-04, “Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting”

Xenith

Xenith Bankshares, Inc. and its subsidiaries

Table of Contents

PART I – FINANCIAL INFORMATION

ITEM 1 – FINANCIAL STATEMENTS

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share data)

June 30,

December 31,

2021

    

2020

ASSETS

(unaudited)

(audited)

Cash and cash equivalents:

Cash and due from banks

$

268,682

$

172,307

Interest-bearing deposits in other banks

593,271

318,974

Federal funds sold

3,217

2,013

Total cash and cash equivalents

865,170

493,294

Securities available for sale, at fair value

2,873,405

2,540,419

Securities held to maturity, at carrying value

541,439

544,851

Restricted stock, at cost

76,825

94,782

Loans held for sale, at fair value

32,726

96,742

Loans held for investment, net of deferred fees and costs

13,697,929

14,021,314

Less allowance for loan and lease losses

118,261

160,540

Total loans held for investment, net

13,579,668

13,860,774

Premises and equipment, net

161,114

163,829

Goodwill

935,560

935,560

Amortizable intangibles, net

49,917

57,185

Bank owned life insurance

427,727

326,892

Other assets

445,805

514,121

Total assets

$

19,989,356

$

19,628,449

LIABILITIES

Noninterest-bearing demand deposits

$

5,222,572

$

4,368,703

Interest-bearing deposits

11,436,647

11,354,062

Total deposits

16,659,219

15,722,765

Securities sold under agreements to repurchase

89,749

100,888

Other short-term borrowings

250,000

Long-term borrowings

290,330

489,829

Other liabilities

202,461

356,477

Total liabilities

17,241,759

16,919,959

Commitments and contingencies (Note 7)

STOCKHOLDERS' EQUITY

Preferred stock, $10.00 par value

173

173

Common stock, $1.33 par value

103,091

104,169

Additional paid-in capital

1,881,395

1,917,081

Retained earnings

709,866

616,052

Accumulated other comprehensive income (loss)

53,072

71,015

Total stockholders' equity

2,747,597

2,708,490

Total liabilities and stockholders' equity

$

19,989,356

$

19,628,449

Common shares outstanding

77,928,948

78,729,212

Common shares authorized

200,000,000

200,000,000

Preferred shares outstanding

17,250

17,250

Preferred shares authorized

500,000

500,000

See accompanying notes to consolidated financial statements.

-2-

Table of Contents

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(Dollars in thousands, except share and per share data)

Three Months Ended

Six Months Ended

June 30,

June 30,

June 30,

June 30,

2021

    

2020

    

2021

    

2020

Interest and dividend income:

Interest and fees on loans

$

130,570

$

143,234

$

258,576

$

294,361

Interest on deposits in other banks

86

155

163

1,017

Interest and dividends on securities:

Taxable

10,519

11,267

20,872

22,895

Nontaxable

9,677

8,211

18,914

15,920

Total interest and dividend income

150,852

162,867

298,525

334,193

Interest expense:

Interest on deposits

7,238

19,861

16,366

48,375

Interest on short-term borrowings

21

186

69

1,526

Interest on long-term borrowings

3,045

5,515

6,644

11,979

Total interest expense

10,304

25,562

23,079

61,880

Net interest income

140,548

137,305

275,446

272,313

Provision for credit losses

(27,414)

34,200

(41,037)

94,396

Net interest income after provision for credit losses

167,962

103,105

316,483

177,917

Noninterest income:

Service charges on deposit accounts

6,607

4,930

12,116

12,508

Other service charges, commissions and fees

1,735

1,354

3,436

2,978

Interchange fees

2,203

1,697

4,050

3,321

Fiduciary and asset management fees

6,819

5,515

13,294

11,499

Mortgage banking income

4,619

5,826

12,874

7,847

Gains on securities transactions

10,339

78

12,275

Bank owned life insurance income

3,209

2,027

5,475

4,076

Loan-related interest rate swap fees

1,321

5,484

3,075

9,432

Other operating income

1,953

(1,240)

5,053

902

Total noninterest income

28,466

35,932

59,451

64,838

Noninterest expenses:

Salaries and benefits

50,766

49,896

103,426

100,013

Occupancy expenses

7,140

7,224

14,454

14,357

Furniture and equipment expenses

3,911

3,406

7,880

7,147

Technology and data processing

7,219

6,454

14,123

12,623

Professional services

4,408

2,989

9,369

6,297

Marketing and advertising expense

2,738

2,043

4,782

4,782

FDIC assessment premiums and other insurance

2,319

2,907

4,626

5,768

Other taxes

4,435

4,120

8,871

8,240

Loan-related expenses

1,909

2,501

3,786

5,198

Amortization of intangible assets

3,568

4,223

7,298

8,624

Loss on debt extinguishment

10,306

14,695

10,306

Other expenses

3,558

6,745

10,598

15,104

Total noninterest expenses

91,971

102,814

203,908

198,459

Income from continuing operations before income taxes

104,457

36,223

172,026

44,296

Income tax expense

19,073

5,514

30,453

6,498

Net income

85,384

30,709

141,573

37,798

Dividends on preferred stock

2,967

5,934

Net income available to common shareholders

$

82,417

$

30,709

$

135,639

$

37,798

Basic earnings per common share

$

1.05

$

0.39

$

1.72

$

0.48

Diluted earnings per common share

$

1.05

$

0.39

$

1.72

$

0.48

Dividends declared per common share

$

0.28

$

0.25

$

0.53

$

0.50

Basic weighted average number of common shares outstanding

78,819,697

78,711,765

78,841,462

79,001,058

Diluted weighted average number of common shares outstanding

78,843,724

78,722,690

78,863,859

79,020,036

See accompanying notes to consolidated financial statements.

-3-

Table of Contents

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

(Dollars in thousands)

Three Months Ended

 

Six Months Ended

June 30, 

 

June 30, 

    

2021

    

2020

 

2021

    

2020

Net income

$

85,384

$

30,709

$

141,573

$

37,798

Other comprehensive income (loss):

 

 

 

  

 

Cash flow hedges:

 

 

 

  

 

Change in fair value of cash flow hedges

 

2,607

 

 

1,179

 

(699)

Reclassification adjustment for losses (gains) included in net income (net of tax, $0 and $0 for the three months and $12 and $394 for the six months ended June 30, 2021 and 2020, respectively) (1)

 

 

 

(47)

 

1,481

AFS securities:

 

 

 

 

Unrealized holding gains (losses) arising during period (net of tax, $3,673 and $5,587 for the three months and $5,132 and $9,492 for the six months ended June 30, 2021 and 2020, respectively)

 

13,818

 

21,019

 

(19,307)

 

35,706

Reclassification adjustment for gains included in net income (net of tax, $0 and $2,171 for the three months and $16 and $2,578 for the six months ended June 30, 2021 and 2020, respectively) (2)

 

 

(8,168)

 

(62)

 

(9,697)

HTM securities:

 

 

 

 

Reclassification adjustment for accretion of unrealized gain on AFS securities transferred to HTM (net of tax, $1 and $1 for the three months and $3 and $3 for the six months ended June 30, 2021 and 2020, respectively) (3)

 

(5)

 

(5)

 

(10)

 

(10)

Bank owned life insurance:

 

 

 

Unrealized holding losses arising during the period

(1,289)

Reclassification adjustment for losses included in net income (4)

 

151

 

129

 

304

 

237

Other comprehensive income (loss)

 

16,571

 

12,975

 

(17,943)

 

25,729

Comprehensive income

$

101,955

$

43,684

$

123,630

$

63,527

(1) The gross amounts reclassified into earnings for the six months ended June 30, 2020 included a $1.8 million loss related to the termination of a cash flow hedge that is reported in “Other operating income” with the corresponding income tax effect being reflected as a component of income tax expense. The remaining gross amounts are reported in the interest income and interest expense sections of the Company’s Consolidated Statements of Income with the corresponding income tax effect being reflected as a component of income tax expense.

(2) The gross amounts reclassified into earnings are reported as "Gains on securities transactions" on the Company’s Consolidated Statements of Income with the corresponding income tax effect being reflected as a component of income tax expense.

(3) The gross amounts reclassified into earnings are reported within interest income on the Company’s Consolidated Statements of Income with the corresponding income tax effect being reflected as a component of income tax expense.

(4) Reclassifications in earnings are reported in "Salaries and benefits" expense on the Company’s Consolidated Statements of Income.

See accompanying notes to consolidated financial statements.

-4-

Table of Contents

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (UNAUDITED)

SIX MONTHS ENDED JUNE 30, 2021 and 2020

(Dollars in thousands, except share and per share amounts)

  

  

  

  

  

Accumulated

  

Additional

Other

Common