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, 2022

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):


	2022		2021		2020
Net Income:
Net income	$	234,510	$	263,917	$	158,228
Less: Preferred Stock Dividends		11,868		11,868		5,658
Net income available to common shareholders	$	222,642	$	252,049	$	152,570

Weighted average shares outstanding, basic		74,949		77,400		78,859
Dilutive effect of stock awards		4		18		17
Weighted average shares outstanding, diluted		74,953		77,418		78,876

Earnings per common share, basic	$	2.97	$	3.26	$	1.93
Earnings per common share, diluted	$	2.97	$	3.26	$	1.93