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

3 Months Ended

Mar. 31, 2023

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 months ended March 31, 2023 and 2022 (dollars in thousands except per share data):


	Three Months Ended
	March 31,
	2023		2022
Net Income	$	35,653	$	43,690
Less: Preferred Stock Dividends		2,967		2,967
Net income available to common shareholders	$	32,686	$	40,723


Weighted average shares outstanding, basic		74,832		75,545
Dilutive effect of stock awards		3		11
Weighted average shares outstanding, diluted		74,835		75,556

Earnings per common share, basic	$	0.44	$	0.54
Earnings per common share, diluted	$	0.44	$	0.54