Atlantic Union Bankshares Corporation · NYSE:AUB
Atlantic Union Bankshares — Investor Presentation (March 2025)
32 slides from Atlantic Union Bankshares's investor presentation, March 2025
Slide 1: Investor Presentation
Investor Presentation NYSE: AUB February – March 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 on the slides e
Slide 3: Additional Information
Additional Information Non-GAAP Financial Measures No Offer or Solicitation This presentation contains certain financial information determined by methods other This presentation does not constitute an offer to sell or a solicitation of an offer to buy than in accordance with generally accepted acco
Slide 4: Our Company
Our Company Soundness | Profitability | Growth Highlights ($bn) Branch/Office Footprint • 129 branches across Virginia, North Carolina and Maryland $ 24.6 $ 18.5 footprint • #1 regional bank1 deposit Assets Loans market share in Virginia • Strong balance sheet and capital levels • Committed to top-t
Slide 5: Our Shareholder Value Proposition
Leading Regional Presence Dense, uniquely valuable presence across attractive markets Our Shareholder Value Proposition Attractive Financial Profile Financial Strength Solid dividend yield Solid balance sheet & payout ratio with & capital levels earnings upside Peer-Leading Strong Growth Performance
Slide 6: Virginia's Bank and Sizeable Opportunity to Take Market Share from the Big Three
Virginia’s Bank and Sizeable Opportunity to Take Market Share from the Big Three Virginia: All Banks Growth Virginia: Banks Headquartered in VA Franchise Opportunity Strength Deposits Rank Institution Deposits ($mm) Market Share (%) Branches Rank Institution Market Share (%) Branches ($mm) 1 Truist
Slide 7: Market Opportunity in Maryland and North Carolina
Market Opportunity in Maryland and North Carolina North Carolina: All Banks Growth Maryland: All Banks Growth Opportunity Opportunity Deposits Rank Institution Deposits ($mm) Market Share (%) Branches Rank Institution Market Share (%) Branches ($mm) 1 Truist Financial Corp. $43,459 19.5% 275 1 Bank
Slide 8: Among the Most Attractive Markets in USA
Among the Most Attractive Markets in USA ranked Virginia the Best State for Business for 2024, 2021 and 2020 and 2nd best in 2023 North Carolina ranked 2nd best in 2024 and best in 2023 Household Income ($) 2024 Population (mm) # State HHI ($) # State Pop. (mm) # State Pop. (mm) ranked Virginia the
Slide 9: Q4 2024 and Full Year 2024 Highlights
Q4 2024 and Full Year 2024 Highlights Loan and Deposit Growth Financial Ratios Positioning for Long Term • Loans growth of approximately 3% • Q4 2024 adjusted operating return on • Lending pipelines remain healthy annualized for the 4th quarter tangible common equity of 15.30%1 and Full Year 2024 ad
Slide 10: Our Core Values
Caring Courageous Committed Working together toward Driven to help our clients, Our Core Values Speaking openly, honestly and common goals, acting with accepting our challenges and Teammates and company kindness, respect and a mistakes as opportunities to succeed, doing what is right and genuine con
Slide 11: We are focused on three Strategic Priorities
We are focused on three Strategic Priorities Organic Inorganic Deliver Organic Growth Innovate and Transform Strategic Investments • Overweighting opportunities in Wholesale • Pressing the relationship model advantage • Leverage FinTech partnerships, strategic partner equity Banking Group where bank
Slide 12: Balance Sheet Trends (GAAP)
Balance Sheet Trends (GAAP) Loans Deposits Assets ($mm) ($mm) ($mm) 8% CAGR 9% CAGR $18,471 $20,398 7% CAGR $24,585 $15,635 $21,166 $20,461 $14,449 $16,611 $16,818 $19,628 $20,065 $14,021 $15,723 $15,932 $13,196 $17,563 $12,611 $13,305 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 2019
Slide 13: Strong Track Record of Performance (GAAP)
Strong Track Record of Performance (GAAP) Earnings Per Share Available to Common Shareholders Return on Equity (ROE) ($) (%) $3.26 $2.97 $2.41 $2.53 $2.29 9.68% 9.51% $1.93 7.89% 8.27% 6.14% 7.04% 2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024 Return on Assets (ROA) Efficiency Ratio (%)
Slide 14: Strong Track Record of Performance (Non-GAAP)
Strong Track Record of Performance (Non-GAAP) Adjusted Operating Earnings Per Share Available to Common Adjusted Operating Return on Tangible Common Equity Shareholders, diluted ($)(1) (ROTCE) (%)(1) 16.61% 18.07% 17.06% 17.21% $3.53 16.12% $2.84 $2.92 $2.95 $2.74 12.64% $2.21 2019 2020 2021 2022 20
Slide 15: Strong Capital Position at December 31, 2024
Strong Capital Position at December 31, 2024 Capital Management Strategy Atlantic Union capital management objectives are to: • Maintain designation as a “well capitalized” institution. Proforma including AOCI and • Ensure capital levels are commensurate Reported with the Company’s risk profile, cap
Slide 16: 2025 AUB Standalone Financial Outlook
2025 AUB Standalone Financial Outlook1 1Key Assumptions Full Year 2025 Outlook 1 • 2025 outlook does not include Loans (end of period) Mid-Single Digit Growth the financial impact of the pending Sandy Spring acquisition in results Deposits (end of period) Mid-Single Digit Growth • The Federal Reserv
Slide 17: Appendix
Appendix d Atlantic Union Bankshares
Slide 18: Q4 2024 Allowance For Credit Losses (ACL) and Provision for Credit Losses
Q4 2024 Allowance For Credit Losses (ACL) and Provision for Credit Losses Allowance for Loan Reserve for Unfunded Allowance for & Lease Losses (ALLL) Commitments (RUC) Credit Losses Q4 Macroeconomic Forecast 06/30/2024 $158.1MM $17.6MM $175.7MM Ending Balance % of loans (0.86%) (0.10%) (0.96%) Moody
Slide 19: Diversified and Granular Loan Portfolio
Diversified and Granular Loan Portfolio Non-Owner Occupied CRE Composition $4.9 billion at Total Loan Portfolio $18.5 billion at December 31, 2024 December 31, 2024 Residential 1-4 family - Auto 1.7% Consumer 0.6% Revolving 4.1% Other 6.7% C&D 9.4% Retail 21.5% Self Storage Consumer 1-4 8.8% Family
Slide 20: Commercial Real Estate (CRE) portfolio at December 31, 2024
Commercial Real Estate (“CRE”) portfolio at December 31, 2024 CRE by class $ in millions Total Outstandings % of Portfolio Hotel/Motel B&B $997 5.4% Industrial/Warehouse $892 4.8% Office $882 4.8% Retail $1,059 5.7% Self Storage $436 2.4% Senior Living $341 1.8% Other $330 1.8% Total Non-Owner Occup
Slide 21: Non-Owner Occupied Office CRE Portfolio at December 31, 2024
Non-Owner Occupied Office CRE Portfolio at December 31, 2024 Medical vs Other Office Medical Office Geographically Diverse Non-Owner Non-Owner Occupied Office 23.3% Occupied Office Portfolio Portfolio Credit Quality By Market ($ millions) Key Portfolio Metrics Carolinas $330 Avg. Office Loan ($ thou
Slide 22: Multifamily CRE Portfolio at December 31, 2024
Multifamily CRE Portfolio at December 31, 2024 Geographically Diverse Multifamily Multifamily Portfolio Credit Portfolio Quality By Market ($ millions) Key Portfolio Metrics Carolinas $359 Avg. Multifamily Loan ($ thousands) $2,526 Western VA $256 Median Multifamily Loan ($ thousands) $646 Central V
Slide 23: Attractive Core Deposit Base
Attractive Core Deposit Base Deposit Base Characteristics Deposit Composition at December 31, 2024 — $20.4 billion • Q4 2024 cost of deposits – 2.48% Brokered, 6% Savings, 5% • 88% core deposits(1) Jumbo Time, 6% Non-Interest • 48% transactional accounts Bearing, 21% Retail Time, 14% Interest Checki
Slide 24: Granular Deposit Base
Granular Deposit Base Period End Uninsured and Uncollateralized Deposits as a Customer Deposit Granularity Percentage of Total Deposits ($ in Millions) $5,992 $5,551 $5,375 $5,094 $4,922 29% 29% 29% 27% 27% $98,000 $92,000 $94,000 $19,000 $19,000 $20,000 Q4 2023 Q3 2024 Q4 2024 Q4 2023 Q1 2024 Q2 20
Slide 25: Liquidity Position at December 31, 2024
Liquidity Position at December 31, 2024 Total Liquidity Sources of $8.4 billion ~140% liquidity coverage ratio of uninsured/uncollateralized deposits of $6.0 billion ($ in millions) Fed Funds Lines Discount Window $597 $3,014 FHLB Borrowing Capacity Liquidity $2,447 Sources Total $8.4 billion Second
Slide 26: Securities Portfolio at December 31, 2024
Securities Portfolio at December 31, 2024 • Total securities portfolio of $3.3 billion with a total Investment Securities Balances unrealized loss of $445.9 million (in millions) • 78% of total portfolio book value in available- Total AFS (fair value) and HTM (carrying value) for-sale at an unrealiz
Slide 27: 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 28: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures Adjusted operating measures exclude, as applicable, merger- ADJUSTED OPERATING EARNINGS & FINANCIAL METRICS related costs, FDIC special assessments, legal reserves associated with our previously disclosed settlement with the For the three months ended For the y
Slide 29: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures The adjusted operating efficiency ratio (FTE) excludes, ADJUSTED OPERATING EFFICIENCY RATIO as applicable, the amortization of intangible assets, merger-related costs, FDIC special assessments, For the three months ended For the years ended December 31, strateg
Slide 30: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO As of December 31, 2024 Atlantic Union Atlantic Union Tangible assets and tangible common equity are Bankshares Bank (Dollars in thousands, except per share amounts) used in the calculation of certain
Slide 31: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures RISK-BASED CAPITAL RATIOS As of December 31, 2024 All regulatory capital ratios at December 31, 2024 Atlantic Union Atlantic Union are estimates and subject to change pending the (Dollars in thousands) Bankshares Bank Company’s filing of its FR Y-9C. In additio
Slide 32: Reconciliation of Non-GAAP Disclosures
Reconciliation of Non-GAAP Disclosures The Company believes net interest income (FTE), total revenue (FTE), and total adjusted revenue NET INTEREST MARGIN (FTE), which are used in computing net interest For the three months ended margin (FTE), efficiency ratio (FTE) and adjusted operating efficiency
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