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

Annual report pursuant to Section 13 and 15(d)

COMMITMENTS AND CONTINGENCIES (Tables)

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Balances of Commitments and Contingencies

The following table presents the balances of commitments and contingencies as of December 31, (dollars in thousands):


	2023		2022
Commitments with off-balance sheet risk:
Commitments to extend credit⁽¹⁾	$	5,961,238	$	5,418,580
Letters of credit		140,498		156,459
Total commitments with off-balance sheet risk	$	6,101,736	$	5,575,039

⁽¹⁾Includes unfunded overdraft protection.

Schedule of Pledged Assets, Not Separately Reported on Statement of Financial Position

As part of the Company’s liquidity management strategy, the Company pledges collateral to secure various financing and other activities that occur during the normal course of business. The following tables present the types of collateral pledged as of December 31, (dollars in thousands):

Pledged Assets 2023

AFS

HTM

Cash

Securities ⁽¹⁾

Loans ⁽²⁾

Total

Public deposits

—

749,398

621,494

—

1,370,892

Repurchase agreements

—

174,075

—

174,075

FHLB advances

—

48,718

—

2,960,926

3,009,644

Derivatives

154,382

61,311

—

215,693

Fed Funds ⁽³⁾

—

411,661

17,356

418,468

847,485

Other purposes

—

15,591

—

15,591

Total pledged assets

154,382

1,460,754

638,850

3,379,394

5,633,380

⁽¹⁾Balance represents market value.

⁽²⁾Balance represents book value.

⁽³⁾Includes AFS and HTM securities pledged under the BTFP program


	Pledged Assets 2022
			AFS		HTM
	Cash		Securities ⁽¹⁾		Securities ⁽¹⁾		Loans ⁽²⁾		Total
Public deposits	$	—	$	713,761	$	579,550	$	—	$	1,293,311
Repurchase agreements		—		159,221		—		—		159,221
FHLB advances		—		36,039		—		2,679,316		2,715,355
Derivatives		196,180		57,114		—		—		253,294
Fed Funds		—		—		—		458,680		458,680
Other purposes		—		27,311		865		—		28,176
Total pledged assets	$	196,180	$	993,446	$	580,415	$	3,137,996	$	4,908,037

⁽¹⁾Balance represents market value.

⁽²⁾Balance represents book value.