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

6 Months Ended

Jun. 30, 2024

13. 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 six months ended June 30, (dollars in thousands except per share data):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Net Income
Net Income	$	25,161	$	55,241	$	74,930	$	90,894
Less: Preferred Stock Dividends		2,967		2,967		5,934		5,934
Net income available to common shareholders	$	22,194	$	52,274	$	68,996	$	84,960

Weighted average shares outstanding, basic		89,768		74,995		82,483		74,914
Dilutive effect of stock awards		—		—		—		2
Weighted average shares outstanding, diluted		89,768		74,995		82,483		74,916

Earnings per common share, basic	$	0.25	$	0.70	$	0.84	$	1.13
Earnings per common share, diluted	$	0.25	$	0.70	$	0.84	$	1.13