Atlantic Union Bankshares Corporation Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

EARNINGS PER SHARE

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2024

17. 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. Refer to Note 12 “Stockholder’s Equity” in this Form 10-K for more information on the Forward Sale Agreements.

The following table presents basic and diluted EPS calculations for the years ended December 31, (in thousands except per share data):


	2024		2023		2022
Net Income:
Net income	$	209,131	$	201,818	$	234,510
Less: Preferred Stock Dividends		11,868		11,868		11,868
Net income available to common shareholders	$	197,263	$	189,950	$	222,642

Weighted average shares outstanding, basic		86,150		74,961		74,949
Dilutive effect of stock awards and equity forward contracts		1,759		1		4
Weighted average shares outstanding, diluted		87,909		74,962		74,953

Earnings per common share, basic	$	2.29	$	2.53	$	2.97
Earnings per common share, diluted	$	2.24	$	2.53	$	2.97