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]

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2024

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 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 AFS		507,764
LHFS		2,611
LHFI		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
Preliminary goodwill			$	288,842

Schedule of pro forma amounts


	Pro forma
	2024 ⁽²⁾		2023 ⁽²⁾		2022⁽²⁾
	(unaudited)		(unaudited)		(unaudited)
Total revenues ⁽¹⁾	$	851,403	$	846,174	$	853,195
Net income available to common shareholders ⁽³⁾	$	241,819	$	238,662	$	276,773

⁽¹⁾ Includes net interest income and noninterest income.

⁽²⁾ Includes the net impact of American National’s accretion adjustments of $5.0 million, $19.7 million, and $19.7 million for the years ended December 31, 2024, 2023, and 2022, respectively.

⁽³⁾ For the years ended December 31, 2024, 2023, and 2022, excludes merger-related costs as noted below.