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

Annual report pursuant to Section 13 and 15(d)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	22. SUBSEQUENT EVENTS The Company’s management has evaluated subsequent events through February 26, 2021, the date the financial statements were issued. On January 28, 2021, the Company’s Board of Directors declared a quarterly dividend of $0.25 per share of common stock. The common stock dividend is payable on February 26, 2021 to common shareholders of record as of February 12, 2021. The Company’s Board of Directors also declared a quarterly dividend on the outstanding shares of its Series A preferred stock. The Series A preferred stock is represented by depositary shares, each representing a 1/400th ownership interest in a share of Series A preferred stock. The dividend of $171.88 per share (equivalent to $0.43 per outstanding depositary share) is payable on March 1, 2021 to preferred shareholders of record as of February 12, 2021. The Company consolidated five branch locations in February 2021. In response to the current rate environment, the Company prepaid a $200.0 million long-term FHLB advance in February 2021, which resulted in a prepayment penalty of $14.7 million.

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2020

22. SUBSEQUENT EVENTS

The Company’s management has evaluated subsequent events through February 26, 2021, the date the financial statements were issued.

On January 28, 2021, the Company’s Board of Directors declared a quarterly dividend of $0.25 per share of common stock. The common stock dividend is payable on February 26, 2021 to common shareholders of record as of February 12, 2021.

The Company’s Board of Directors also declared a quarterly dividend on the outstanding shares of its Series A preferred stock. The Series A preferred stock is represented by depositary shares, each representing a 1/400th ownership interest in a share of Series A preferred stock. The dividend of $171.88 per share (equivalent to $0.43 per outstanding depositary share) is payable on March 1, 2021 to preferred shareholders of record as of February 12, 2021.

The Company consolidated five branch locations in February 2021.

In response to the current rate environment, the Company prepaid a $200.0 million long-term FHLB advance in February 2021, which resulted in a prepayment penalty of $14.7 million.