Atlantic Union Bankshares Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)

3 Months Ended

Mar. 31, 2025

Business Combination, Description [Abstract]

Schedule of consideration transferred and fair value of assets acquired and liabilities assumed

The following table provides a summary of the consideration transferred and the fair value of the assets acquired and liabilities assumed as of the date of the American National acquisition, reflecting the aforementioned measurement period and reclassification adjustments (dollars in thousands):


Purchase price consideration			$	505,473

Fair value of assets acquired:
Cash and cash equivalents	$	55,060
Securities available for sale		507,764
Loans held for sale		2,611
Loans held for investment		2,151,517
Premises and equipment		35,802
Core deposit intangibles and other intangibles		84,687
Bank owned life insurance		30,627
Other assets		78,829
Total assets	$	2,946,897

Fair value of liabilities assumed:
Deposits	$	2,583,089
Short-term borrowings		98,336
Long-term borrowings		25,890
Other liabilities		22,951
Total liabilities	$	2,730,266

Fair value of net assets acquired			$	216,631
Goodwill			$	288,842

The Company assessed the fair value based on the following methods for the significant assets acquired and liabilities assumed:

Schedule of pro forma amounts


	Pro forma
	Three Months Ended
	March 31,
	2025 ⁽²⁾		2024 ⁽²⁾
	(unaudited)		(unaudited)
Total revenues ⁽¹⁾	$	213,327	$	207,363
Net income available to common shareholders ⁽³⁾	$	51,494	$	59,445

⁽¹⁾ Includes net interest income and noninterest income.

⁽²⁾ Includes the net impact of American National’s accretion adjustments of $5.0 million for the three months ended March 31, 2024. There were no pro forma net accretion adjustments for the three months ended March 31, 2025.

⁽³⁾ For the three months ended March 31, 2025 and 2024, excludes merger-related costs as noted below.