Atlantic Union Bankshares Corporation · NYSE:AUB
Atlantic Union Bankshares — Investor Presentation (November 2025)
35 slides from Atlantic Union Bankshares's investor presentation, November 2025
Slide 1: Investor Presentation
INVESTOR PRESENTATION NYSE: AUB NOVEMBER -DECEMBER 2025
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation and statements by our management may constitute “forward-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 our a
Slide 3: Additional Information
ADDITIONAL INFORMATION Non-GAAP Financial Measures No Offer or Solicitation This presentation contains certain financial information determined by methods other than This presentation does not constitute an offer to sell or a solicitation of an offer to buy any in accordance with generally accepted
Slide 4: Our Company
OUR COMPANY Soundness | Profitability | Growth M a ry l a n d BALTIMORE WASHINGTON Largest Regional Bank Headquartered in the Lower Mid-Atlantic FREDERICKSBURG STAUNTON V i rg i n i a HIGHLIGHTS 1 CHARLOTTESVILLE $37.1 Billion $27.4 Billion $30.7 Billion ROANOKE RICHMOND NORFOLK Assets Loans Deposit
Slide 5: Our Shareholder Value Proposition
OUR SHAREHOLDER LEADING REGIONAL PRESENCE Dense, uniquely valuable presence across attractive markets VALUE PROPOSITION ATTRACTIVE FINANCIAL PROFILE FINANCIAL STRENGTH Solid balance sheet & Solid dividend yield capital levels & payout ratio with earnings upside PEER-LEADING STRONG GROWTH PERFORMANCE
Slide 6: Our Core Values
OUR CORE VALUES Culture — HOW we come together and interact as a team to accomplish our CARING COURAGEOUS COMMITTED business and societal goals. Working together toward Speaking openly, honestly Driven to help our clients, common goals, acting with and accepting our challenges Teammates and company
Slide 7: We Are Focused on Three Strategic Priorities
WE ARE FOCUSED ON THREE STRATEGIC PRIORITIES ORGANIC INORGANIC DELIVER ORGANIC GROWTH INNOVATE AND TRANSFORM STRATEGIC INVESTMENTS • Overweighting opportunities in • Pressing the relationship model • Leverage FinTech partnerships, strategic Wholesale Banking Group advantage where bankers provide par
Slide 8: Highlights
HIGHLIGHTS FINANCIAL RATIOS LOANS & DEPOSITS Q3 2025 adjusted operating return on tangible common Loan growth was approximately 0.5% annualized in equity of 20.1%1 seasonally slow Q3 2025. Average loan growth quarter over quarter of 4.3% annualized Q3 2025 adjusted operating return on assets of 1.30
Slide 9: Balance Sheet Trends (GAAP)
BALANCE SHEET TRENDS (GAAP) LOANS ($mm) 15% CAGR DEPOSITS ($mm) 15% CAGR ASSETS ($mm) 14% CAGR $27,361 $30,665 $37,073 $18,471 $20,398 $24,585 $15,635 $21,166 $14,021 $14,449 $15,723 $16,611 $15,932 $16,818 $19,628 $20,065 $20,461 $13,196 2020 2021 2022 2023 2024 2025 YTD 2020 2021 2022 2023 2024 20
Slide 10: Strong Track Record of Performance (GAAP)
STRONG TRACK RECORD OF PERFORMANCE (GAAP) EARNINGS PER SHARE, DILUTED AVAILABLE TO COMMON SHAREHOLDERS ($) RETURN ON EQUITY (ROE) (%) $3.26 $2.97 $2.53 $2.24 9.68% 9.51% $1.93 8.27% 7.04% 6.14% 5.06% $1.22 2020 2021 2022 2023 2024 2025 YTD 2020 2021 2022 2023 2024 2025 YTD RETURN ON ASSETS (ROA) (%)
Slide 11: Strong Track Record of Performance (Non-GAAP)
STRONG TRACK RECORD OF PERFORMANCE (NON-GAAP) ADJUSTED OPERATING EARNINGS PER SHARE ADJUSTED OPERATING RETURN AVAILABLE TO COMMON SHAREHOLDERS, DILUTED ($) (1) ON TANGIBLE COMMON EQUITY (ROTCE) (%) (1) $3.53 18.07% 19.73% $2.92 $2.95 $2.88 17.06% 17.21% 16.85% $2.21 $2.46 12.64% 2020 2021 2022 2023
Slide 12: Strong Capital Position
STRONG CAPITAL POSITION CAPITAL MANAGEMENT STRATEGY ATLANTIC UNION CAPITAL MANAGEMENT At September 30,2025 OBJECTIVES ARE TO: • Maintain designation as a “well capitalized” PRO FORMA INCLUDING AOCI institution. REPORTED & HTM UNREALIZED LOSSES • Ensure capital levels are commensurate with the Compan
Slide 13: Sizeable Opportunity to Take Market Share From the Big Three
SIZEABLE OPPORTUNITY TO TAKE MARKET SHARE FROM THE BIG THREE Statewide Branch Footprint Brings Unique Franchise Value and Significant Growth Opportunity VIRGINIA: ALL BANKS VIRGINIA: BANKS HEADQUARTERED IN VA Growth Franchise Opportunity Strength Rank Institution Deposits ($mm) Market Share (%) Bran
Slide 14: Market Opportunity in Maryland and North Carolina
MARKET OPPORTUNITY IN MARYLAND AND NORTH CAROLINA Growth Opportunity in both Maryland and North Carolina MARYLAND: ALL BANKS NORTH CAROLINA: ALL BANKS Growth Growth Opportunity Opportunity Rank Institution Deposits ($mm) Market Share (%) Branches Rank Institution Deposits ($mm) Market Share (%) Bran
Slide 15: Among the Most Attractive States in USA for Business
AMONG THE MOST ATTRACTIVE Ranked Virginia the Best State for Business for 2024, 2021 and 2020 STATES IN USA FOR BUSINESS and 2nd best in 2023 North Carolina ranked best in 2025 and 2023 and 2nd best in 2024 Maryland ranked 8th for Technology MEDIAN HOUSEHOLD INCOME ($) 2025 POPULATION (MILLIONS) and
Slide 16: 2025 Financial Outlook
2025 FINANCIAL OUTLOOK1 KEY ASSUMPTIONS1 • Full Year 2025 outlook includes nine Inclusive of Sandy Spring beginning April 1st months impact of the Sandy Spring acquisition in results Targets for 4Q 20251 FULL YEAR 2025 OUTLOOK1 • The outlook includes estimates of merger-related purchase accounting L
Slide 17: North Carolina Expansion Strategy
North Carolina Expansion Strategy BALTIMORE M a ry l a n d Our initial focus will be in Raleigh and Wilmington, with plans to open highly visible locations targeting attractive WASHINGTON submarkets combined with AUB branded ATMs at high-traffic STAUNTON retailers and paired with expanded commercial
Slide 18: Appendix
APPENDIX Q3 2025 7) Atlantic (4 Union Bankshares
Slide 19: AUB Diversified and Granular Loan Portfolio
AUB DIVERSIFIED AND GRANULAR LOAN PORTFOLIO At September 30,2025 TOTAL LOAN PORTFOLIO $27.4 BILLION LOAN PORTFOLIO CHARACTERISTICS Residential 1-4 family - Revolving 4.3% Auto Consumer 0.8% 0.4% C&D 7.9% 6.43% Q3 2025 Weighted Average Yield (Tax Equivalent) Consumer 1-4 Family 10.2% Owner Occupied C
Slide 20: AUB CRE Portfolio
AUB CRE PORTFOLIO At September 30,2025 CRE BY CLASS $ IN MILLIONS Total Outstandings % of Portfolio All Other Loans 39.3% Total Non-Owner Occupied CRE 24.9% Hotel/Motel B&B $1,202 4.4% Industrial/Warehouse $1,287 4.7% Office $1,392 5.1% Retail $1,724 6.3% $27.4B Self Storage $611 2.2% Total Senior L
Slide 21: Non-Owner Occupied Office CRE Portfolio
NON-OWNER OCCUPIED OFFICE CRE PORTFOLIO At September 30,2025 NON-OWNER OCCUPIED OFFICE GEOGRAPHICALLY DIVERSE NON-OWNER OCCUPIED OFFICE PORTFOLIO PORTFOLIO CREDIT QUALITY ($ MILLIONS) BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS Carolinas $305 District of Columbia $71 Avg. Office Loan ($ thou
Slide 22: Multifamily CRE Portfolio
MULTIFAMILY CRE PORTFOLIO At September 30,2025 MULTIFAMILY PORTFOLIO CREDIT GEOGRAPHICALLY DIVERSE MULTIFAMILY PORTFOLIO QUALITY ($ MILLIONS) BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS Carolinas $735 District of Columbia $218 Avg. Multifamily Loan ($ thousands) $3,338 Western VA $279 Suburb
Slide 23: Overview of Government-Related Loan Portfolio Exposures
OVERVIEW OF GOVERNMENT-RELATED LOAN PORTFOLIO EXPOSURES As of September 30,2025 • Government Contracting team has managed through government shutdowns and sequestrations in the KEY METRICS OF GOVERNMENT CONTRACTING PORTFOLIO past. • Focus on national security agency and defense industry contractors.
Slide 24: Attractive Core Deposit Base
ATTRACTIVE CORE DEPOSIT BASE DEPOSIT BASE CHARACTERISTICS DEPOSIT COMPOSITION AT SEPTEMBER 30, 2025 — $30.7 BILLION 2.18% Brokered Savings 9% Q3 2025 cost of deposits 3% Jumbo Time Non-Interest Bearing 6% 23% 91% Retail Time core deposits1 13% 46% Money Market 23% Interest Checking 23% transactional
Slide 25: Granular Deposit Base
GRANULAR DEPOSIT BASE PERIOD END UNINSURED & UNCOLLATERALIZED DEPOSITS CUSTOMER DEPOSIT GRANULARITY AS A PERCENTAGE OF TOTAL DEPOSITS ($ MILLIONS) $9,907 $9,802 $5,992 $6,060 $5,551 $105,000 $104,000 29% 32% 32% 30% $92,000 27% $19,000 $22,000 $22,000 Q3 2024 Q2 2025 Q3 2025 Q3 2024 Q4 2024 Q1 2025
Slide 26: AUB Liquidity Position
AUB LIQUIDITY POSITION At September 30,2025 ($ M I LLI ON S) Fed Funds Lines $1,410 Discount Window $3,352 FHLB Borrowing Liquidity Capacity TOTAL LIQUIDITY SOURCES OF $5,420 Sources Total $15.4 BILLION $15.4 ~157% Liquidity Coverage Ratio of Uninsured/Uncollateralized Deposits of $9.8 billion billi
Slide 27: Securities Portfolio
SECURITIES PORTFOLIO • Total securities portfolio of $5.1 billion with a total unrealized loss of $363.3 million – 84% of total portfolio book value in At September 30,2025 available-for-sale (“AFS”) at an unrealized loss of $327.6 million – 16% of total portfolio book value INVESTMENT SECURITIES BA
Slide 28: Reconciliation of Non-GAAP Disclosures
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 isolation
Slide 29: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES ADJUSTED OPERATING EARNINGS & FINANCIAL METRICS Adjusted operating measures exclude, as For the three months ended For the nine months ended For the years ended applicable, merger-related costs, FDIC (Dollars in thousands, except outstanding share and per share
Slide 30: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES ADJUSTED OPERATING EARNINGS & FINANCIAL METRICS The Company believes net interest income (FTE), total revenue (FTE), and total adjusted revenue For the three months ended For the nine months ended For the years ended (FTE), which are used in computing net inter
Slide 31: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used ADJUSTED OPERATING EARNINGS & FINANCIAL METRICS in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible For the three months ended For the nine months ended Fo
Slide 32: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO Tangible assets and tangible common equity are used in the calculation of certain profitability, (Dollars in thousands, except per share amounts) As of September 30, 2025 capital, and per share ratios.
Slide 33: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO Tangible assets and tangible common equity are (Dollars in thousands, except per share amounts) used in the calculation of certain profitability, As of September 30, 2025 capital, and per share ratios.
Slide 34: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES RISK-BASED CAPITAL RATIOS All regulatory capital ratios at September 30, (Dollars in thousands) 2025 are estimates and subject to change As of September 30, 2025 pending the Company’s filing of its FR Y-9C. In addition to these regulatory capital ratios, the At
Slide 35: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES The Company believes net interest NET INTEREST MARGIN income (FTE), total revenue (FTE), (Dollars in thousands) and total adjusted revenue (FTE), For the three months ended which are used in computing net September 30, 2025 June 30, 2025 interest margin (FTE),
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