Atlantic Union Bankshares Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2021

12. 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 three and nine months ended September 30, 2021 and 2020 (dollars in thousands except per share data):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Net Income:
Net Income	$	74,565	$	61,000	$	216,138	$	98,798
Less: Preferred Stock Dividends		2,967		2,691		8,901		2,691
Net income available to common shareholders	$	71,598	$	58,309	$	207,237	$	96,107


Weighted average shares outstanding, basic		76,309		78,714		77,989		78,905
Dilutive effect of stock awards		14		11		19		16
Weighted average shares outstanding, diluted		76,323		78,725		78,008		78,921

Earnings per common share, basic	$	0.94	$	0.74	$	2.66	$	1.22
Earnings per common share, diluted	$	0.94	$	0.74	$	2.66	$	1.22