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

Quarterly report [Sections 13 or 15(d)]

EARNINGS PER SHARE

EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2025

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 and incremental shares related to the Forward Sale Agreements, and excluding weighted shares outstanding for which the results would have been anti-dilutive. See Note 10 “Stockholders’ Equity” in Part I, Item 1 of this Quarterly Report for more information on the Forward Sale Agreements.

The following table presents basic and diluted EPS calculations for the three and nine months ended September 30, (dollars in thousands except per share data):


	Three Months Ended				Nine Months Ended
	2025		2024		2025		2024
Net Income
Net Income	$	92,140	$	76,415	$	161,749	$	151,346
Less: Preferred Stock Dividends		2,967		2,967		8,901		8,901
Net income available to common shareholders	$	89,173	$	73,448	$	152,848	$	142,445

Weighted average shares outstanding, basic		141,729		89,781		124,403		84,933
Dilutive effect of stock awards and forward equity sale agreements		257		—		392		—
Weighted average shares outstanding, diluted		141,986		89,781		124,795		84,933

Earnings per common share, basic	$	0.63	$	0.82	$	1.23	$	1.68
Earnings per common share, diluted	$	0.63	$	0.82	$	1.22	$	1.68