Atlantic Union Bankshares Corporation · NYSE:AUB
Atlantic Union Bankshares — Q4 2025 Earnings Presentation
35 slides from Atlantic Union Bankshares's earnings presentation, Jan 22, 2026
Slide 1: 4Q and Full Year 2025 Earnings Presentation
4Q and Full Year 2025 Earnings Presentation January 22, 2026
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 $37.6 Billion $27.8 Billion $30.5 Billion ROANOKE RICHMOND NORFOLK Assets Loans Deposit
Slide 5: Our Shareholder Value Proposition
OUR SHAREHOLDER LEADING REGIONAL PRESENCE Dense, uniquely valuable presence across attractive markets VALUE PROPOSITION ATTRACTIVE FINANCIAL PROFILE FINANCIAL STRENGTH Solid balance sheet & Solid dividend yield capital levels & payout ratio with earnings upside PEER-LEADING STRONG GROWTH PERFORMANCE
Slide 6: AUB Q4 and Full Year 2025 Financial Results
AUB Q4 and Full Year 2025 FINANCIAL RESULTS
Slide 7: Highlights
HIGHLIGHTS FINANCIAL RATIOS LOANS & DEPOSITS Q4 2025 adjusted operating return on tangible common Loan growth was approximately 6.3% annualized in equity of 22.1%1 and 20.4%1 for the Full Year 2025 Q4 2025 Non-interest bearing deposits at 22% of total Q4 2025 adjusted operating return on assets of 1
Slide 8: Our Markets
Our Markets 2025 GDP 2025 POPULATION ($ BILLIONS) (MILLIONS) GDP GDP Pop. Pop. # State ($Billions) # State ($Billions) # State (Millions) # State (Millions) 1 California 4,198 9 Washington 872 1 California 38.9 9 North Carolina 11.1 2 Texas 2,798 10 New Jersey 867 2 Texas 31.2 10 Michigan 10.1 3 New
Slide 9: The Next Phase: Harnessing Organic Power
THE NEXT PHASE Harnessing Organic Power With the franchise now established, our focus is on maximizing its potential: We Believe AUB Was Built For This Moment Organic growth Capital generation Disciplined execution We have invested the capital, built the platform, and Deepening relationships, Shifti
Slide 10: Q4 2025 Financial Performance At-A-Glance
Q4 2025 FINANCIAL PERFORMANCE AT-A-GLANCE • Reported net income available to common shareholders increased $19.8 million, primarily driven by: • A decrease in the provision for credit losses, primarily SUMMARIZED INCOME STATEMENT driven by the decrease in net charge-offs as the prior 4Q2025 3Q2025 $
Slide 11: Q4 2025 Allowance for Credit Losses and Provision for Credit Losses
Q4 2025 ALLOWANCE FOR CREDIT LOSSES (ACL) Q4 MACROECONOMIC FORECAST AND PROVISION FOR CREDIT LOSSES MOODY’S DECEMBER 2025 BASELINE FORECAST: ALLOWANCE FOR LOAN RESERVE FOR UNFUNDED ALLOWANCE FOR • US GDP expected to average ~2.1% growth & LEASE LOSSES (ALLL) COMMITMENTS (RUC) CREDIT LOSSES in 2026 a
Slide 12: Q4 2025 Net Interest Margin
Q4 2025 NET INTEREST MARGIN MARGIN OVERVIEW MARKET RATES 2 4Q 2025 3Q 2025 4Q 2025 3Q 2025 Net interest margin (FTE)1 3.96% 3.83% Loan yield 6.44% 6.43% EOP Avg EOP Avg Investment yield 4.09% 4.10% Fed funds 3.75% 4.02% 4.25% 4.46% Earning asset yield 5.99% 6.00% Prime 6.75% 7.02% 7.25% 7.46% Cost o
Slide 13: Q4 2025 Noninterest Income
Q4 2025 NONINTEREST INCOME Noninterest income increased approximately 10% in the fourth quarter compared to the third quarter primarily due to: ($ THOUSANDS) 4Q2025 3Q2025 $ Change % Change • A $4.8 million pre-tax loss in the prior Service charges on deposit accounts $11,742 $12,838 ($1,096) (8.5%)
Slide 14: Q4 2025 Noninterest Expense
Q4 2025 NONINTEREST EXPENSE Noninterest expense increased approximately 2% in the fourth quarter compared to the third quarter primarily due to: ($ THOUSANDS) 4Q2025 3Q2025 $ Change % Change • A $3.8 million increase in merger-related costs, primarily related to the core systems Salaries and benefit
Slide 15: Q4 2025 Loan and Deposit Growth
Q4 2025 LOAN AND DEPOSIT GROWTH LOAN GROWTH • At December 31, 2025, loans held for investment ($ THOUSANDS) 4Q2025 3Q2025 QTD ANNUALIZED GROWTH (“LHFI”) totaled $27.8 billion, an increase of $435.0 Commercial real estate - non-owner occupied $ 7,178,515 $ 6,805,302 21.8% million from the prior quart
Slide 16: Strong Capital Position
STRONG CAPITAL POSITION CAPITAL MANAGEMENT STRATEGY At December 31, 2025 PRO FORMA INCLUDING AOCI ATLANTIC UNION CAPITAL MANAGEMENT REPORTED OBJECTIVES ARE TO: & HTM UNREALIZED LOSSES • Maintain designation as a “well capitalized” REGULATORY WELL ATLANTIC institution. CAPITALIZED ATLANTIC UNION ATLA
Slide 17: 2026 Financial Outlook
2026 Financial Outlook FULL YEAR 2026 OUTLOOK 1 KEY ASSUMPTIONS1 Loans (end of period) $29.0 – 30.0 billion • 2026 outlook includes the full year impact Deposits (end of period) $31.5 – 32.5 billion of the Sandy Spring acquisition in results ACL to loans: ~115 – 120 bps • The Federal Reserve Bank cu
Slide 18: Appendix
APPENDIX Q4 2025 7) Atlantic (4 Union Bankshares
Slide 19: AUB Diversified and Granular Loan Portfolio
AUB DIVERSIFIED AND GRANULAR LOAN PORTFOLIO At December 31,2025 TOTAL LOAN PORTFOLIO $27.8 BILLION LOAN PORTFOLIO CHARACTERISTICS Residential 1-4 family - Revolving 4.5% Auto Consumer 0.7% 0.4% C&D 6.0% 6.44% Q4 2025 Weighted Average Yield (Tax Equivalent) Consumer 1-4 Family Owner Occupied 10.2% CR
Slide 20: AUB CRE Portfolio
AUB CRE PORTFOLIO At December 31, 2025 CRE BY CLASS $ IN MILLIONS Total Outstandings % of Total Portfolio All Other Loans 40.0% Total Non-Owner Occupied CRE 25.8% Hotel/Motel B&B $1,261 4.5% Industrial/Warehouse $1,353 4.9% Office $1,482 5.3% Retail $1,684 6.1% $27.8B Self Storage $677 2.4% Total Lo
Slide 21: Non-Owner Occupied Office CRE Portfolio
NON-OWNER OCCUPIED OFFICE CRE PORTFOLIO At December 31, 2025 NON-OWNER OCCUPIED OFFICE GEOGRAPHICALLY DIVERSE NON-OWNER OCCUPIED OFFICE PORTFOLIO PORTFOLIO CREDIT QUALITY ($ MILLIONS) BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS Carolinas $297 District of Columbia $62 Avg. Office Loan ($ thou
Slide 22: Multifamily CRE Portfolio
MULTIFAMILY CRE PORTFOLIO At December 31, 2025 MULTIFAMILY PORTFOLIO CREDIT GEOGRAPHICALLY DIVERSE MULTIFAMILY PORTFOLIO QUALITY ($ MILLIONS) BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS Carolinas $742 District of Columbia $263 Avg. Multifamily Loan ($ thousands) $3,604 Western VA $273 Suburb
Slide 23: Overview of Government-Related Loan Portfolio Exposures
OVERVIEW OF GOVERNMENT-RELATED LOAN PORTFOLIO EXPOSURES As of December 31, 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 DECEMBER 31, 2025 — $30.5 BILLION 2.03% Brokered 4% Savings 9% Q4 2025 cost of deposits Jumbo Time Non-Interest Bearing 6% 22% 90% Retail Time core deposits1 13% 46% Money Market 23% Interest Checking 24% transactional
Slide 25: Granular Deposit Base
GRANULAR DEPOSIT BASE PERIOD END UNINSURED & UNCOLLATERALIZED DEPOSITS CUSTOMER DEPOSIT GRANULARITY AS A PERCENTAGE OF TOTAL DEPOSITS ($ MILLIONS) $9,907 $9,802 $9,551 $5,992 $6,060 32% 32% 31% 29% 30% $117,000 $104,000 $94,000 $20,000 $22,000 $22,000 Q4 2024 Q3 2025 Q4 2025 Q4 2024 Q1 2025 Q2 2025
Slide 26: AUB Liquidity Position
AUB LIQUIDITY POSITION At December 31, 2025 ($ M I LLI ON S) Fed Funds Lines $1,410 Discount Window FHLB Borrowing $2,573 Capacity Liquidity TOTAL LIQUIDITY SOURCES OF $5,277 Sources Total $14.5 BILLION $14.5 ~152% Liquidity Coverage Ratio of Uninsured/Uncollateralized Deposits of $9.6 billion billi
Slide 27: Securities Portfolio
SECURITIES PORTFOLIO At December 31, 2025 • Total securities portfolio of $5.1 billion with a total unrealized loss of $323.1 million – 84% of total portfolio book value in INVESTMENT SECURITIES BALANCES available-for-sale (“AFS”) at an unrealized loss of $295.7 million ($ MILLIONS) – 16% of total p
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 AND EFFICIENCY RATIO Adjusted operating measures exclude, as (Dollars in thousands, except per share amounts) applicable, merger-related costs, CECL Day 1 For the three months ended For the year ended non-PCD loans and RUC provision
Slide 30: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES NET INTEREST MARGIN The Company believes net interest (Dollars in thousands) income (FTE), total revenue (FTE), For the three months ended and total adjusted revenue (FTE), which are used in computing net December 31, 2025 September 30, 2025 interest margin (FT
Slide 31: 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 December 31, 2025 As of September 30, 2025 capita
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 (Dollars in thousands, except per share amounts) used in the calculation of certain profitability, As of December 31, 2025 capital, and per share ratios.
Slide 33: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES RISK-BASED CAPITAL RATIOS All regulatory capital ratios at December 31, (Dollars in thousands) 2025 are estimates and subject to change As of December 31, 2025 pending the Company’s filing of its FR Y-9C. In addition to these regulatory capital ratios, the Atla
Slide 34: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES OPERATING MEASURES Tangible assets and tangible common equity are (Dollars in thousands) used in the calculation of certain profitability, For the three months ended For the year ended capital, and per share ratios. The Company December 31, 2025 September 30, 2
Slide 35: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES PRE-TAX PRE-PROVISION ADJUSTED OPERATING EARNINGS Pre-tax pre-provision adjusted earnings (Dollars in thousands) excludes, as applicable, the provision for credit losses, which can fluctuate significantly from For the three months ended period-to-period under t
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