Atlantic Union Bankshares Corporation · NYSE:AUB
Atlantic Union Bankshares — Q3 2026 Earnings Presentation
41 slides from Atlantic Union Bankshares's earnings presentation, Oct 20, 2026
Slide 1: Q3 2026 Earnings Presentation
Q3 2026 Earnings Presentation October 20, 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 s
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 D.C. Largest Regional Bank Headquartered in the Lower Mid-Atlantic2,3 STAUNTON FREDERICKSBURG HIGHLIGHTS 1 $38.4 Billion $29.3 Billion $31.0 Billion V i rg i n i a ROANOKE CHARLOTTESVILLE Assets Loans Deposits RICHMON
Slide 5: Our Shareholder Value Proposition
OUR SHAREHOLDER LEADING REGIONAL Dense, uniquely valuable presence VALUE across attractive markets PRESENCE PROPOSITION ATTRACTIVE FINANCIAL FINANCIAL STRENGTH PROFILE Solid balance sheet & Solid dividend yield capital levels & payout ratio with earnings upside PEER-LEADING STRONG GROWTH PERFORMANCE
Slide 6: AUB Q3 2026 Financial Results
AUB Q3 2026 FINANCIAL RESULTS
Slide 7: Highlights
LOANS FINANCIAL HIGHLIGHTS & DEPOSITS Quarterly average loan growth was approximately 9.6% annualized in Q3 2026 and quarterly loan RATIOS Q3 2026 adjusted operating return on tangible common equity of 19.85%1 growth increased approximately 8.6% annualized since the end of Q2 2026 Q3 2026 adjusted o
Slide 8: Our Markets
2025 CURRENT DOLLAR GDP 2026 POPULATION OUR MARKETS ($ BILLIONS) GDP GDP (MILLIONS) Pop. Pop. # State ($Billions) # State ($Billions) # State (Millions) # State (Millions) 1 California 4,251 9 Washington 895 1 California 39.4 9 North Carolina 11.2 2 Texas 2,904 10 North Carolina 894 2 Texas 32.0 10
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: Q3 2026 Financial Performance At-A-Glance
Q3 2026 FINANCIAL PERFORMANCE AT-A-GLANCE SUMMARIZED INCOME STATEMENT 3Q2026 2Q2026 $ Change % Change Net interest income $328,422 $325,118 $3,304 1.0% Q3 2026 Highlights - Provision for credit losses 5,731 11,737 (6,006) (51.2%) Reported net income available to common shareholders + Noninterest inc
Slide 11: Strong Track Record of Performance (GAAP)
STRONG TRACK RECORD OF PERFORMANCE (GAAP) EARNINGS PER SHARE, DILUTED AVAILABLE TO COMMON SHAREHOLDERS ($) RETURN ON EQUITY (ROE) (%) $3.26 $2.97 $2.53 $2.89 9.68% 10.98% $2.24 9.51% 8.27% $2.03 7.04% 6.16% 2021 2022 2023 2024 2025 2026 YTD 2021 2022 2023 2024 2025 2026 YTD* RETURN ON ASSETS (ROA) (
Slide 12: Strong Track Record of Performance (Non-GAAP)
STRONG TRACK RECORD OF PERFORMANCE (NON-GAAP) ADJUSTED OPERATING EARNINGS PER SHARE ADJUSTED OPERATING RETURN AVAILABLE TO COMMON SHAREHOLDERS, DILUTED ($) (1) ON TANGIBLE COMMON EQUITY (ROTCE) (%) (1) $3.53 $3.44 20.41% 19.86% $2.92 $2.95 18.07% 17.06% 17.21% 16.85% $2.88 $2.79 2021 2022 2023 2024
Slide 13: Q3 2026 Allowance for Credit Losses and Provision
Q3 2026 ALLOWANCE FOR CREDIT LOSSES (ACL) Q3 MACROECONOMIC FORECAST AND PROVISION FOR CREDIT LOSSES MOODY’S SEPTEMBER 2026 BASELINE FORECAST: ALLOWANCE FOR LOAN RESERVE FOR UNFUNDED ALLOWANCE FOR • US GDP expected to average ~2.2% growth & LEASE LOSSES (ALLL) COMMITMENTS (RUC) CREDIT LOSSES in 2026
Slide 14: Q3 2026 Net Interest Margin
Q3 2026 NET INTEREST MARGIN MARGIN OVERVIEW MARKET RATES 2 Q3 2026 Q2 2026 Q3 2026 Q2 2026 Net interest margin (FTE)1 3.88% 3.94% EOP Avg EOP Avg Loan yield (FTE)1 6.22% 6.23% Fed funds 4.00% 3.79% 3.75% 3.75% Investment yield (FTE)1 4.05% 4.05% Earning asset yield (FTE)1 5.89% 5.88% Prime 7.00% 6.7
Slide 15: Q3 2026 Noninterest Income
Q3 2026 NONINTEREST INCOME Noninterest income decreased approximately 39.3% in the third quarter of 2026 compared to the second quarter of 2026 primarily due to: ($ THOUSANDS) 3Q2026 2Q2026 $ Change % Change • A $32.3 million pre-tax gain on the sale of the Company’s equity interest in Bearing Servi
Slide 16: Q3 2026 Noninterest Expense
Q3 2026 NONINTEREST EXPENSE Noninterest expense increased 2.6% in the third quarter of 2026 compared to the second quarter of 2026 primarily due to: • A $2.7 million pre-tax loss on debt ($ THOUSANDS) 3Q2026 2Q2026 $ Change % Change extinguishment. Salaries and benefits $113,978 $112,309 $1,669 1.5%
Slide 17: Q3 2026 Loans and Deposits
Q3 2026 LOANS AND DEPOSITS LOANS • At September 30, 2026, LHFI totaled $29.3 billion, ($ THOUSANDS) 3Q2026 2Q2026 QTD ANNUALIZED % CHANGE an increase of $623.3 million from the prior quarter Commercial real estate - non-owner occupied $ 7,275,895 $ 7,303,555 (1.5%) primarily due to increases in comm
Slide 18: Strong Capital Position
STRONG CAPITAL POSITION CAPITAL MANAGEMENT STRATEGY ATLANTIC UNION CAPITAL MANAGEMENT PRO FORMA INCLUDING AOCI OBJECTIVES ARE TO: At September 30, 2026 REGULATORY REPORTED & HTM UNREALIZED LOSSES WELL • Maintain designation as a “well capitalized” ATLANTIC ATLANTIC institution. CAPITALIZED ATLANTIC
Slide 19: 2026 Financial Outlook
2026 FINANCIAL OUTLOOK FULL YEAR 2026 OUTLOOK 1 FULL YEAR 2026 COMMENTARY1 KEY ASSUMPTIONS1 Low End of High Single Digits Year over Year Loans (end of period) $29.0 – 30.0 billion Growth • The Federal Reserve Bank raises the fed Deposits (end of period) $31.0 – 32.0 billion Low Single Digits Year ov
Slide 20: Appendix
APPENDIX Q3 2026 y) Atlantic (4 Union Bankshares
Slide 21: AUB Diversified and Granular Loan Portfolio
AUB DIVERSIFIED AND GRANULAR LOAN PORTFOLIO At September 30, 2026 TOTAL LOAN PORTFOLIO $29.3 BILLION LOAN PORTFOLIO CHARACTERISTICS Revolving 1-4 Family 4.6% Auto Consumer 0.4% 0.4% C&D 6.9% 6.22% Consumer 1-4 Family Q3 2026 Weighted Average Yield (Tax Equivalent)1 10.2% Owner Occupied CRE 14.9% Mul
Slide 22: AUB CRE Portfolio
AUB CRE PORTFOLIO At September 30, 2026 CRE BY CLASS $ IN MILLIONS Total % of Outstandings Total Portfolio Total Non-Owner Occupied All Other Loans 41.8% CRE 24.8% Hotel/Motel B&B $1,232 4.2% Industrial/Warehouse $1,271 4.3% Office $1,461 5.0% $29.3B Retail $1,943 6.6% Total Loans Self Storage $681
Slide 23: Non-Owner Occupied Office CRE Portfolio
NON-OWNER OCCUPIED OFFICE CRE PORTFOLIO At September 30, 2026 NON-OWNER OCCUPIED OFFICE GEOGRAPHICALLY DIVERSE NON-OWNER OCCUPIED OFFICE PORTFOLIO PORTFOLIO CREDIT QUALITY ($ MILLIONS) BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS Carolinas $329 District of Columbia $61 Avg. Office Loan ($ tho
Slide 24: Multifamily CRE Portfolio
MULTIFAMILY CRE PORTFOLIO At September 30, 2026 MULTIFAMILY PORTFOLIO CREDIT GEOGRAPHICALLY DIVERSE MULTIFAMILY PORTFOLIO QUALITY ($ MILLIONS) BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS Carolinas $741 District of Columbia $242 Avg. Multifamily Loan ($ thousands) $3,788 Western VA $245 Subur
Slide 25: Overview of Government-Related Loan Portfolio Exposures
OVERVIEW OF GOVERNMENT-RELATED LOAN PORTFOLIO EXPOSURES As of September 30, 2026 • Government Contracting team has KEY METRICS OF GOVERNMENT CONTRACTING PORTFOLIO managed through government shutdowns and sequestrations in the $710.4 million 1.09% $3.5 million past. • Focus on national security agenc
Slide 26: AUB NDFI/Private Credit Portfolio
AUB NON-DEPOSITORY FINANCIAL INSTITUTION (“NDFI”)/PRIVATE CREDIT PORTFOLIO At September 30, 2026 NDFI/PRIVATE CREDIT PORTFOLIO PORTFOLIO CHARACTERISTICS $ IN MILLIONS NDFI/PRIVATE CREDIT LOAN TYPES • Comprised primarily of facilities that help fund private equity group lending to businesses $23.6 Lo
Slide 27: Attractive Core Deposit Base
ATTRACTIVE CORE DEPOSIT BASE DEPOSIT BASE CHARACTERISTICS DEPOSIT COMPOSITION AT SEPTEMBER 30, 2026 — $31.0 BILLION 2.00% Brokered Savings 9% Q3 2026 cost of deposits 4% Jumbo Time Non-Interest Bearing 6% 22% 90% core deposits1 Retail Time 13% 47% Money Market Interest Checking transactional account
Slide 28: Granular Deposit Base
GRANULAR DEPOSIT BASE PERIOD END UNINSURED & UNCOLLATERALIZED DEPOSITS CUSTOMER DEPOSIT GRANULARITY AS A PERCENTAGE OF TOTAL DEPOSITS ($ MILLIONS) $9,802 $9,915 $9,785 $9,551 $9,608 $8,100 $7,900 $7,500 32% 32% 33% 32% 31% $120,000 $117,000 $104,000 $2,500 $2,400 $2,100 $22,000 $22,000 $21,000 Q3 20
Slide 29: AUB Liquidity Position
AUB LIQUIDITY POSITION At September 30, 2026 ($ M I LLI ON S) Fed Funds Lines $1,388 FHLB Borrowing Discount Window Capacity $1,212 $4,899 Liquidity Sources TOTAL LIQUIDITY SOURCES OF Total $12.2 BILLION $12.2 ~124% Liquidity Coverage Ratio of Uninsured/Uncollateralized Deposits of $9.8 billion bill
Slide 30: Securities Portfolio
SECURITIES PORTFOLIO At September 30, 2026 • Total securities portfolio of $4.6 billion with a total net unrealized losses of $558.1 million – 83% of total portfolio book value in INVESTMENT SECURITIES BALANCES available-for-sale (“AFS”) with net unrealized losses of $475.0 million ($ MILLIONS) – 17
Slide 31: 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 32: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES ADJUSTED OPERATING EARNINGS AND EFFICIENCY RATIO Adjusted operating measures exclude or include, (Dollars in thousands, except per share amounts) as applicable, loss on debt extinguishment, gain For the three months ended on sale of equity interest in Bearing I
Slide 33: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES ADJUSTED OPERATING EARNINGS & FINANCIAL METRICS Adjusted operating measures exclude or include, as applicable, merger-related costs, For the nine months ended For the years ended FDIC special assessments, legal reserves (Dollars in thousands, except outstanding
Slide 34: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES The Company believes net interest income (FTE), ADJUSTED OPERATING EARNINGS & EFFICIENCY RATIO total revenue (FTE), and total adjusted revenue (FTE), which are used in computing net interest For the nine months ended For the years ended margin (FTE) and adjuste
Slide 35: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES NET INTEREST MARGIN, LOAN YIELD, INVESTMENT YIELD AND EARNING ASSET YIELD (Dollars in thousands) For the three months ended The Company believes net interest September 30, 2026 June 30, 2026 income (FTE), interest income (FTE), Net interest income (GAAP) $ 328,
Slide 36: 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) As of September 30, 2026 As of June 30, 2026 As of September 30, 2025 used in the calculation of certain
Slide 37: 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, 2026 capital, and per share ratios.
Slide 38: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES RISK-BASED CAPITAL RATIOS All regulatory capital ratios at September 30, (Dollars in thousands) 2026 are estimates and subject to change As of September 30, 2026 pending the Company’s filing of its FR Y-9C. In addition to these regulatory capital ratios, the At
Slide 39: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES OPERATING MEASURES (Dollars in thousands) Tangible assets and tangible common equity are For the three months ended used in the calculation of certain profitability, capital, and per share ratios. The Company September 30, 2026 June 30, 2026 believes tangible a
Slide 40: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used OPERATING MEASURES in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible For the nine months ended For the years ended assets, tangible common equity and the
Slide 41: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES Adjusted operating pre-tax pre-provision ADJUSTED OPERATING PRE-TAX PRE-PROVISION EARNINGS (FTE) earnings (FTE) excludes or includes, as (Dollars in thousands) applicable, the provision for credit losses, which For the three months ended can fluctuate significa
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