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, 2022

11. 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, 2022 and 2021 (dollars in thousands except per share data):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Net Income:
Net Income	$	58,070	$	74,565	$	163,986	$	216,138
Less: Preferred Stock Dividends		2,967		2,967		8,901		8,901
Net income available to common shareholders	$	55,103	$	71,598	$	155,085	$	207,237


Weighted average shares outstanding, basic		74,704		76,309		75,029		77,989
Dilutive effect of stock awards		1		14		5		19
Weighted average shares outstanding, diluted		74,705		76,323		75,034		78,008

Earnings per common share, basic	$	0.74	$	0.94	$	2.07	$	2.66
Earnings per common share, diluted	$	0.74	$	0.94	$	2.07	$	2.66