Atlantic Union Bankshares Corporation · NYSE:AUB
Atlantic Union Bankshares — Investor Presentation (May 2026)
36 slides from Atlantic Union Bankshares's investor presentation, May 1, 2026
Slide 1: Investor Presentation May - June, 2026
Investor Presentation May - June, 2026
Slide 2: Forward-Looking Statements
2 This presentation and statements by our management may constitute “forward FORWARD-LOOKING STATEMENTS -looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include, without limitation, statements regarding ou
Slide 3: Additional Information
3 ADDITIONAL INFORMATION Non-GAAP Financial Measures This presentation contains certain financial information determined by methods other than in accordance with generally accepted accounting principles in the United States (“GAAP”). These non-GAAP financial measures are a supplement to GAAP, which
Slide 4: Highlights
4 N O R F O L K V I R G I N I A B E A C H M a ry l a n d V irg in ia No rth C a ro l in a C H A R L O T T E W I L M I N G T O N B A L T I M O R E R A L E I G H G R E E N S B O R O W A S H I N G T O N R O A N O K E S T A U N T O N C H A R L O T T E S V I L L E R I C H M O N D F R E D E R I C K S B U
Slide 5: Our Shareholder Value Proposition
5 Dense, uniquely valuable presence across attractive markets FINANCIAL STRENGTH Solid balance sheet & capital levels PEER-LEADING PERFORMANCE Committed to top-tier financial performance ATTRACTIVE FINANCIAL PROFILE Solid dividend yield & payout ratio with earnings upside STRONG GROWTH POTENTIAL Org
Slide 6: Our Core Values Continue to Make us Successful
6 Our Core Values Continue to Make us Successful CARING Working together toward common goals, acting with kindness, respect, and a genuine concern for others. COURAGEOUS Speaking openly, honestly, and accepting our challenges and mistakes as opportunities to learn and grow. COMMITTED Driven to help
Slide 7: Our Strategic Priorities
7 Our Strategic Priorities Merger Execution Execute upon the Sandy Spring acquisition, realizing its expectations and potential Build Scaling Capabilities Continue to build infrastructure, risk management, workforce, processes and capabilities to support scaling over time Deliver Organic Growth Leve
Slide 8: Harnessing Organic Power
8 Harnessing Organic Power With the franchise now established, our focus is on maximizing its potential: We Believe AUB Was Built For This Moment We have invested the capital, built the platform, and assembled the team. Now is the time to demonstrate the power of what we have built— delivering susta
Slide 9: Highlights Q1 2026
9 1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measure in "Appendix - Reconciliation of Non-GAAP Disclosures” HIGHLIGHTS Q1 2026 LOANS & DEPOSITS Loan growth was approximately 2.2% annualized in Q1 2026 Non-interest bearing deposits at 23% of total deposits
Slide 10: Growth opportunity in all three states
10 Growth opportunity in all three states Source: SNL Financial and FDIC deposit data Deposit and branch data as of 6/30/25 which is presented on a pro forma basis for any announced transactions Note: Excludes branches with deposits greater than $6.0 billion Market Opportunity in Virginia, Maryland,
Slide 11: Our Markets
Source: Most recent data available from S&P Global; Bureau of Economic Analysis, Bureau of Labor Statistics 11 Our Markets # State Pop. (Millions) 1 California 39.4 2 Texas 32.0 3 Florida 24.0 4 New York 19.9 5 Pennsylvania 13.1 6 Illinois 12.7 7 Ohio 11.9 8 Georgia 11.3 # State HHI ($) 1 District o
Slide 12: Balance Sheet Trends (GAAP)
12 LOANS ($mm) $16,611 $15,932 $16,818 $20,398 $30,472 $30,391 2021 2022 2023 2024 2025 Q1 2026 Data as of December 31 each respective year, except for Q1 2026 which is as of the three months ended March 31, 2026 CAGR defined as compounded annual growth rate from 2021 through Q1 2026 BALANCE SHEET T
Slide 13: Strong Track Record of Performance (GAAP)
13 Data as of or for the twelve months ended each respective year, except for Q1 2026 which is as of the three months ended March 31, 2026 STRONG TRACK RECORD OF PERFORMANCE (GAAP) $3.26 $2.97 $2.53 $2.24 $2.03 $0.84 2021 2022 2023 2024 2025 Q1 2026 9.68% 9.51% 8.27% 7.04% 6.16% 9.78% 2021 2022 2023
Slide 14: Strong Track Record of Performance (Non-GAAP)
14 STRONG TRACK RECORD OF PERFORMANCE (NON-GAAP) Data as of or for the twelve months ended each respective year, except Q1 2026 which is as of the three months ended March 31, 2026 (1) Non-GAAP financial measure; See reconciliation to most directly comparable GAAP measure in "Appendix -- Reconciliat
Slide 15: Capital Ratios
15 CAPITAL RATIO REGULATORY WELL CAPITALIZED MINIMUMS REPORTED PRO FORMA INCLUDING AOCI & HTM UNREALIZED LOSSES ATLANTIC UNION BANKSHARES ATLANTIC UNION BANK ATLANTIC UNION BANKSHARES ATLANTIC UNION BANK Common Equity Tier 1 Ratio (CET1) 6.5% 10.2% 13.1% 9.2% 12.1% Tier 1 Capital Ratio 8.0% 10.8% 13
Slide 16: 2026 Financial Outlook
16 2026 Financial Outlook 1. Information on this slide is presented as of April 21, 2026, reflects the Company’s updated financial outlook, certain of the Company’s financial targets, and key economic and other assumptions, and will not be updated or affirmed unless and until the Company publicly an
Slide 17: Appendix
APPENDIX Q1 2026 y) Atlantic (4 Union Bankshares
Slide 18: Diversified and Granular Loan Portfolio
18 AUB DIVERSIFIED AND GRANULAR LOAN PORTFOLIO Figures may not total to 100% due to rounding Duration and Weighted Average Yield Data is as of or for the three months ended March 31, 2026 Commercial defined as C&I plus owner-occupied commercial real estate and other commercial 1 For non-GAAP financi
Slide 19: AUB CRE Portfolio
19 Total Non-Owner Occupied CRE 25.8% Owner Occupied CRE 15.5% Construction and Land Development 6.3% Multifamily Real Estate 8.3% Residential 1-4 Family - Commercial 3.8% Other Commercial (Farmland) 0.1% All Other Loans 40.2% Figures may not foot due to rounding AUB CRE PORTFOLIO At March 31, 2026
Slide 20: Non-Owner Occupied Office CRE Portfolio
20 At March 31, 2026 1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Office Portfolio Figures may not foot due to rounding. NON-OWNER OCCUPIED OFFICE CRE PORTFOLIO NON-OWNER OCCUPIED OFFICE GEOGRAPHICALLY DIVERSE NON PORTFOLIO CREDIT QUALITY -OWNER OCCUPIED OFFICE PORTFOLIO * DC, Montgomery Co
Slide 21: Multifamily CRE Portfolio
21 MULTIFAMILY CRE PORTFOLIO 1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Multifamily Portfolio Figures may not foot due to rounding. Carolinas $721 Western VA $261 Fredericksburg Area $85 Central VA $305 Coastal VA/NC $216 Baltimore $159 DC Metro $321 Other Maryland $10 Eastern VA $59 Othe
Slide 22: Government Contracting Loan Portfolio
22 $738.1 million 1.05% $3.4 million Total Amount of Loans Loan Loss Reserve/ Gov Con Loans Avg. Loan Size 0.00% 0.0% 6.35% Non-Performing Loans Net Charge-Offs1 Criticized Loans/ Gov Con Loans 1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Government Contracting Portfolio OVERVIEW OF GOVERNM
Slide 23: NDFI/Private Credit Portfolio
23 • Comprised primarily of facilities that help fund private equity group lending to businesses • The Company’s exposure consists of granular downstream credits held as collateral with each facility controlled with specific conservative advance rates and concentration percentages • The Company has
Slide 24: Attractive Core Deposit Base
24 ATTRACTIVE CORE DEPOSIT BASE Cost of deposit data is as of and for the three months ended March 31, 2026, figures may not foot due to rounding 1. Core deposits defined as total deposits less jumbo time deposits and brokered deposits Non-Interest Bearing 23% Interest Checking 25% Money Market 23%
Slide 25: Granular Deposit Base
25 GRANULAR DEPOSIT BASE CUSTOMER DEPOSIT GRANULARITY PERIOD END UNINSURED & UNCOLLATERALIZED DEPOSITS AS A PERCENTAGE OF TOTAL DEPOSITS ( $ M I LLI O N S ) $20,000 $22,000 $22,000 $98,000 $117,000 $118,000 Q1 2025 Q4 2025 Q1 2026 Retail Avg. Deposits Acct Size Business Avg. Deposits Acct Size 30% 3
Slide 26: AUB Liquidity Position
26 Cash and Cash Equivalents (unrestricted) $943 Unencumbered Securities $2,150 FHLB Borrowing Capacity $5,628 Fed Funds Lines $1,410 Discount Window $2,418 Secondary Sources* $2,454 AUB LIQUIDITY POSITION * Includes brokered deposits and other sources of liquidity Figures may not foot due to roundi
Slide 27: Securities Portfolio
27 SECURITIES PORTFOLIO • Total securities portfolio of $4.9 billion with a total unrealized loss of $357.5 million – 83% of total portfolio book value in available-for-sale (“AFS”) at an unrealized loss of $322.1 million – 17% of total portfolio book value designated as held-to-maturity with an unr
Slide 28: North Carolina Expansion Strategy
28 10 New Branches Planned Over Next 3 Years Our initial focus will be in Raleigh and Wilmington, with plans to open highly visible locations targeting attractive submarkets combined with AUB branded ATMs at high-traffic retailers paired with expanded commercial, wealth and mortgage teams North Caro
Slide 29: Reconciliation of Non-GAAP Disclosures
29 RECONCILIATION OF NON-GAAP DISCLOSURES We have provided supplemental performance measures determined by methods other than in accordance with GAAP. These non-GAAP financial measures are a supplement to GAAP, which we use to prepare our financial statements, and should not be considered in isolati
Slide 30: Reconciliation of Non-GAAP Disclosures
30 RECONCILIATION OF NON-GAAP DISCLOSURES Adjusted operating measures exclude, as applicable, merger-related costs, FDIC special assessments, legal reserves associated with our previously disclosed settlement with the Consumer Financial Protection Bureau (“CFPB”), strategic cost savings initiatives
Slide 31: Reconciliation of Non-GAAP Disclosures
31 RECONCILIATION OF NON-GAAP DISCLOSURES The Company believes net interest income (FTE), total revenue (FTE), and total adjusted revenue (FTE), which are used in computing net interest margin (FTE) and adjusted operating efficiency ratio (FTE), provide valuable additional insight into the net inter
Slide 32: Reconciliation of Non-GAAP Disclosures
32 RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy be
Slide 33: Reconciliation of Non-GAAP Disclosures
33 RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy be
Slide 34: Reconciliation of Non-GAAP Disclosures
34 RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy be
Slide 35: Reconciliation of Non-GAAP Disclosures
35 RECONCILIATION OF NON-GAAP DISCLOSURES All regulatory capital ratios at March 31, 2026 are estimates and subject to change pending the Company’s filing of its FR Y-9C. In addition to these regulatory capital ratios, the Company adjusts certain regulatory capital ratios to include the impacts of A
Slide 36: Reconciliation of Non-GAAP Disclosures
36 RECONCILIATION OF NON-GAAP DISCLOSURES The Company believes net interest income (FTE), total revenue (FTE), and total adjusted revenue (FTE), which are used in computing net interest margin (FTE), loan yield (FTE), efficiency ratio (FTE) and adjusted operating efficiency ratio (FTE), provide valu
Atlantic Union Bankshares — Investor Presentation (May 2026) on 6ix