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

Quarterly report [Sections 13 or 15(d)]

GOODWILL AND INTANGIBLE ASSETS (Tables)

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of the significant components of goodwill and intangible assets

The following table provides information on the significant components of goodwill and other acquired intangible assets as of the periods ended (dollars in thousands):

Gross

Additions:

Net

Carrying

Sandy Spring

Accumulated

Carrying

Value

Acquisition ⁽¹⁾

Amortization

Value

September 30, 2025

Goodwill

1,214,053

512,333

—

1,726,386

CDIs

153,740

243,351

(116,136)

280,955

Other amortizable intangibles

14,254

47,299

(9,272)

52,281

⁽¹⁾Includes a $15.4 million increase in preliminary goodwill associated with the Sandy Spring acquisition related to measurement period adjustments during the third quarter of 2025. Refer to Note 2 “Acquisitions” for more information.


	Gross		Additions:				Net
	Carrying		American National		Accumulated		Carrying
	Value		Acquisition		Amortization		Value
December 31, 2024
Goodwill	$	925,211	$	288,842	$	—	$	1,214,053
CDIs		85,491		74,410		(85,768)		74,133
Other amortizable intangibles		3,977		10,277		(3,824)		10,430

Schedule of goodwill and intangible assets by operating segment

The following table presents the Company’s goodwill and intangible assets by operating segment as of the periods ended (dollars in thousands):


	Wholesale Banking		Consumer Banking		Corporate Other		Total
September 30, 2025
Goodwill ⁽¹⁾	$	1,249,654	$	476,732	$	—	$	1,726,386
Intangible Assets ⁽²⁾		52,037		657		280,542		333,236
December 31, 2024
Goodwill	$	850,035	$	364,018	$	—	$	1,214,053
Intangible Assets		8,714		778		75,071		84,563

(1)	Wholesale Banking and Consumer Banking includes gross carrying values of $399.6 million and $112.7 million, respectively, related to goodwill from the Sandy Spring acquisition. Refer to Note 2 “Acquisitions” for more information.

Estimated Remaining Amortization Expense of Intangibles

Amortization expense of intangibles for the three months ended September 30, 2025 and 2024 totaled $18.1 million and $5.8 million, respectively, and totaled $42.0 million and $13.7 million, respectively, for the nine months ended September 30, 2025 and 2024. As of September 30, 2025, the estimated remaining amortization expense of intangibles is as follows for the years ending (dollars in thousands):


For the remaining three months of 2025	$	17,691
2026		60,282
2027		50,407
2028		41,936
2029		35,235
Thereafter		127,685
Total estimated amortization expense	$	333,236