Atlantic Union Bankshares Corporation · NYSE:AUB
Atlantic Union Bankshares — Q3 2026 Earnings Presentation
36 slides from Atlantic Union Bankshares's earnings presentation, November 2026
Slide 1: Investor Presentation November - December 2026
Investor Presentation November - December 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 LEADING REGIONAL PRESENCE SHAREHOLDER Dense, uniquely valuable presence across attractive VALUE markets 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 Continue to Make us Successful
Our Core Values Continue to Make us Successful CARING COURAGEOUS COMMITTED Working together toward Speaking openly, honestly, Driven to help our clients, common goals, acting with and accepting our challenges Teammates, and company kindness, respect, and a genuine and mistakes as opportunities to su
Slide 7: Our Strategic Priorities
Our Strategic FOUNDATIONAL Merger Execution Execute upon the Sandy Spring acquisition, realizing its expectations Priorities and potential Build Scaling Capabilities Continue to build infrastructure, risk management, workforce, processes and capabilities to support scaling over time Deliver Organic
Slide 8: Harnessing Organic Power
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, Shifting from capital
Slide 9: 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 10: Market Opportunity in Virginia, Maryland, and North Carolina
Market Opportunity in Virginia, Maryland, and North Carolina Growth opportunity in all three states Franchise Growth Strength Opportunity VIRGINIA Rank Institution Deposits ($mm) Market Share (%) Branches VIRGINIA Rank Institution Deposits ($mm) Market Share (%) Branches ALL BANKS 1 Truist Financial
Slide 11: Our Markets
2025 CURRENT DOLLAR GDP 2026 POPULATION OUR MARKETS ($ 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 12: Balance Sheet Trends (GAAP)
BALANCE SHEET TRENDS (GAAP) LOANS ($mm) 18% CAGR DEPOSITS ($mm) 14% CAGR ASSETS ($mm) 15% CAGR $30,472 $30,966 $29,297 $27,796 $37,586 $38,352 $20,398 $18,471 $24,585 $16,611 $15,932 $16,818 $15,635 $21,166 $14,449 $20,065 $20,461 $13,196 2021 2022 2023 2024 2025 2026 YTD 2021 2022 2023 2024 2025 20
Slide 13: Strong Track Record of Performance (GAAP)
STRONG TRACK RECORD OF PERFORMANCE (GAAP) EARNINGS PER SHARE, DILUTED AVAILABLE TO COMMON SHAREHOLDERS ($) RETURN ON EQUITY (ROE) (%) $3.26 $2.97 $2.53 $2.89 9.68% 10.98% $2.24 9.51% 8.27% $2.03 7.04% 6.16% 2021 2022 2023 2024 2025 2026 YTD 2021 2022 2023 2024 2025 2026 YTD* RETURN ON ASSETS (ROA) (
Slide 14: Strong Track Record of Performance (Non-GAAP)
STRONG TRACK RECORD OF PERFORMANCE (NON-GAAP) ADJUSTED OPERATING EARNINGS PER SHARE ADJUSTED OPERATING RETURN AVAILABLE TO COMMON SHAREHOLDERS, DILUTED ($) (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 15: 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 16: 2026 Financial Outlook
2026 FINANCIAL OUTLOOK FULL YEAR 2026 OUTLOOK 1 FULL YEAR 2026 COMMENTARY1 KEY ASSUMPTIONS1 Lower End of High Single Digit Year over Loans (end of period) $29.0 – 30.0 billion Year Growth • The Federal Reserve Bank raises the fed Deposits (end of period) $31.0 – 32.0 billion Low Single Digits Year o
Slide 17: Medium-Term Financial Targets
Medium-Term Financial 19% – 20% 1.4% – 1.5% 46% – 48% Targets1 Return on Tangible Return on Assets Efficiency Ratio (FTE) Common Equity KEY FINANCIAL PERFORMANCE OPERATING METRICS BENCHMARKED AGAINST TOP QUARTILE PROXY PEERS Atlantic Union is committed to achieving top tier financial performance and
Slide 18: Appendix
APPENDIX Q3 2026 y) Atlantic (4 Union Bankshares
Slide 19: 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 20: 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 $681
Slide 21: Non-Owner Occupied Office CRE Portfolio
NON-OWNER OCCUPIED OFFICE CRE PORTFOLIO At September 30, 2026 NON-OWNER OCCUPIED OFFICE GEOGRAPHICALLY DIVERSE NON-OWNER OCCUPIED OFFICE PORTFOLIO PORTFOLIO CREDIT QUALITY ($ MILLIONS) BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS Carolinas $329 District of Columbia $61 Avg. Office Loan ($ tho
Slide 22: 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 23: 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 24: 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 25: Attractive Core Deposit Base
ATTRACTIVE CORE DEPOSIT BASE DEPOSIT BASE CHARACTERISTICS DEPOSIT COMPOSITION AT SEPTEMBER 30, 2026 — $31.0 BILLION 2.00% Brokered Savings 9% Q3 2026 cost of deposits 4% Jumbo Time Non-Interest Bearing 6% 22% 90% core deposits1 Retail Time 13% 47% Money Market Interest Checking transactional account
Slide 26: Granular Deposit Base
GRANULAR DEPOSIT BASE PERIOD END UNINSURED & UNCOLLATERALIZED DEPOSIT CUSTOMER DEPOSIT GRANULARITY AMOUNTS AND AS A PERCENTAGE OF TOTAL DEPOSITS ($ 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 $2
Slide 27: AUB Liquidity Position
AUB LIQUIDITY POSITION At September 30, 2026 ($ 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 Liquidity Sources /Uninsured and Uncollateralized Deposits – 124% billion Secondary Source
Slide 28: 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 29: 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 30: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES ADJUSTED OPERATING EARNINGS & FINANCIAL METRICS Adjusted operating measures exclude or For the three months ended For the nine months ended For the years ended include, as applicable, merger-related costs, (Dollars in thousands, except outstanding share and per
Slide 31: 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 For the three months ended For the nine months ended For the years ended (FTE), which are used in computing net intere
Slide 32: Reconciliation of Non-GAAP Disclosures
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 ADJUSTED OPERATING EARNINGS & FINANCIAL METRICS assets, tangible common equity and the related ratios a
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) As of September 30, 2026 As of June 30, 2026 As of September 30, 2025 used in the calculation of certain
Slide 34: 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 35: 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 36: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES The Company believes net interest NET INTEREST MARGIN, LOAN YIELD, INVESTMENT YIELD AND EARNING ASSET YIELD income (FTE), total revenue (FTE), (Dollars in thousands) and total adjusted revenue (FTE), For the three months ended which are used in computing net Se
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