atlanticunionbank.com Investor Relations Investors Overview News & Events Company Info ESG Financial Info Stock Data SEC Filings Governance Income Statement FINANCIAL INFO CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands 3 Months Ended 9 Months Ended Sep. 30, 2021 Sep. 30, 2020 Sep. 30, 2021 Sep. 30, 2020 Interest and dividend income: Interest and fees on loans $ 124,999 $ 138,402 $ 383,575 $ 432,763 Interest on deposits in other banks 291 137 454 1,154 Interest and dividends on securities: Taxable 11,230 10,275 32,102 33,170 Nontaxable 9,859 8,600 28,773 24,520 Total interest and dividend income 146,379 157,414 444,904 491,607 Interest expense: Interest on deposits 5,837 15,568 22,203 63,943 Interest on short-term borrowings 22 72 91 1,598 Interest on long-term borrowings 3,032 4,393 9,676 16,372 Total interest expense 8,891 20,033 31,970 81,913 Net interest income 137,488 137,381 412,934 409,694 Provision for credit losses (18,850) 6,558 (59,888) 100,954 Net interest income after provision for credit losses 156,338 130,823 472,822 308,740 Noninterest income: Service charges on deposit accounts 7,198 6,041 19,314 18,549 Other service charges, commissions and fees 1,534 1,621 4,970 4,600 Interchange fees 2,203 1,979 6,252 5,300 Fiduciary and asset management fees 7,029 6,045 20,323 17,543 Mortgage banking income 4,818 8,897 17,692 16,744 Gains on securities transactions 9 18 87 12,293 Bank owned life insurance income 2,727 3,421 8,202 7,498 Loan-related interest rate swap fees 1,102 3,170 4,176 12,602 Other operating income 3,318 3,215 8,372 4,116 Total noninterest income 29,938 34,407 89,388 99,245 Noninterest expenses: Salaries and benefits 53,534 49,000 156,959 149,013 Occupancy expenses 7,251 7,441 21,705 21,798 Furniture and equipment expenses 4,040 3,895 11,919 11,042 Technology and data processing 7,534 6,564 21,657 19,187 Professional services 3,792 2,914 13,161 9,211 Marketing and advertising expense 2,548 2,631 7,330 7,413 FDIC assessment premiums and other insurance 2,172 1,811 6,798 7,578 Other taxes 4,432 4,124 13,303 12,364 Loan-related expenses 1,503 2,314 5,289 7,512 Amortization of intangible assets 3,381 4,053 10,679 12,676 Losses on debt extinguishment 0 0 14,695 10,306 Other expenses 5,156 8,475 15,756 23,581 Total noninterest expenses 95,343 93,222 299,251 291,681 Income from continuing operations before income taxes 90,933 72,008 262,959 116,304 Income tax expense 16,368 11,008 46,821 17,506 Net income 74,565 61,000 216,138 98,798 Dividends on preferred stock 2,967 2,691 8,901 2,691 Net Income available to common shareholders $ 71,598 $ 58,309 $ 207,237 $ 96,107 Basic earnings per common share (in dollars per share) $ 0.94 $ 0.74 $ 2.66 $ 1.22 Diluted earnings per common share (in dollars per share) 0.94 0.74 2.66 1.22 Dividends declared per common share (in dollars per share) $ 0.28 $ 0.25 $ 0.81 $ 0.75 Weighted average shares outstanding, basic (in shares) 76,309,355 78,714,353 77,988,151 78,904,792 Diluted weighted average number of common shares outstanding (in shares) 76,322,736 78,725,346 78,007,543 78,921,108 Source PDF HTML 10-Q Filing ZIP XLS HTML XBRL Published: November 4, 2021 Email Alerts Contacts RSS News Feed ©2021 Atlantic Union Bankshares Corporation. All Rights Reserved. Privacy Policy Disclaimer Sitemap