Atlantic Union Bankshares (AUB) Q2 2026 earnings summary

Executive summary

• Net income available to common shareholders was $158.0 million for Q2 2026, with diluted EPS of $1.11; adjusted operating earnings were $134.0 million, with adjusted EPS of $0.94.

• Strong quarter driven by robust loan and deposit growth, margin improvement, disciplined expense management, and improved asset quality.

• Achieved a $32.3 million pre-tax gain from the sale of equity interest in Bearing Insurance.

• Authorized a $250 million share repurchase program, with $10 million repurchased in Q2 2026.

• Investments and disciplined execution over the past two years are translating into stronger earnings capacity and capital generation.

Financial highlights

• Net interest income was $325.1 million–$329.7 million, up sequentially; net interest margin (FTE) rose to 3.94%.

• Noninterest income increased to $90.2 million, mainly due to the Bearing Insurance sale; adjusted noninterest income up to $57.9 million.

• Noninterest expense decreased to $199.1 million, reflecting lower merger-related costs; adjusted noninterest expense down to $184 million.

• Return on average assets (ROA) was 1.47%–1.73%; return on average equity (ROE) was 12.60%.

• Tangible book value per share increased to $20.77, up $0.84 sequentially and $2.39 year-over-year.

Outlook and guidance

• Full-year 2026 outlook projects end-of-period loans of $29.0–$30.0 billion and deposits of $31.0–$32.0 billion.

• Net interest income (FTE) expected at $1.32–$1.33 billion, with net interest margin (FTE) of 3.90%–3.95%.

• Adjusted operating noninterest expense forecasted at $742–$752 million.

• Allowance for credit losses projected to remain in the 1.15%–1.20% range; net charge-off ratio guidance reduced to 5–10 bps.

• Annual tangible book value per share growth of ~12% expected in 2026.