Form 8-K

8-K — Atlantic Union Bankshares Corp

Accession: 0000883948-26-000077

Filed: 2026-10-20

Period: 2026-10-20

CIK: 0000883948

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — aub-20261020x8k.htm (Primary)

EX-99.1 (aub-ex99d1.htm)

EX-99.2 (aub-ex99d2.htm)

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8-K

8-K (Primary)

Filename: aub-20261020x8k.htm · Sequence: 1

ATLANTIC UNION BANKSHARES CORPORATION_October 20, 2026

0000883948false0000883948us-gaap:SeriesAPreferredStockMember2026-10-202026-10-200000883948us-gaap:CommonStockMember2026-10-202026-10-2000008839482026-10-202026-10-20

United States

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 20, 2026

ATLANTIC UNION BANKSHARES CORPORATION

(Exact name of registrant as specified in its charter)

Virginia

001-39325

54-1598552

(State or other jurisdiction

(Commission

(I.R.S. Employer

of incorporation)

File Number)

Identification No.)

4300 Cox Road

Glen Allen, Virginia 23060

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (804) 633-5031

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $1.33 per share

AUB

New York Stock Exchange

Depositary Shares, Each Representing a 1/400th Interest in a Share of 6.875% Perpetual Non-Cumulative Preferred Stock, Series A

AUB.PRA

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

Item 2.02 Results of Operations and Financial Condition.

On October 20, 2026, Atlantic Union Bankshares Corporation (the “Company”) issued a press release announcing its financial results for the third quarter of 2026. A copy of the press release is being furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

The information disclosed in or incorporated by reference into this Item 2.02, including Exhibit 99.1, is furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Item 7.01 Regulation FD Disclosure.

Attached as Exhibit 99.2 and incorporated herein by reference is a presentation that the Company will use in connection with a webcast and conference call for investors and analysts at 9:00 a.m. Eastern Time on Tuesday, October 20, 2026. This presentation is also available under the Presentations link in the Investor Relations – News & Events section of the Company’s website at https://investors.atlanticunionbank.com.

The information disclosed in or incorporated by reference into this Item 7.01, including Exhibit 99.2, is furnished and shall not be deemed filed for purposes of Section 18 of the Exchange Act.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description of Exhibit

99.1

Press release dated October 20, 2026 regarding the third quarter 2026 results.

99.2

Atlantic Union Bankshares Corporation presentation.

104

Cover Page Interactive Data File – the cover page iXBRL tags are embedded within the Inline XBRL document

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ATLANTIC UNION BANKSHARES CORPORATION

Date: October 20, 2026

By:

/s/ Alexander D. Dodd

Alexander D. Dodd

Executive Vice President and

Chief Financial Officer

EX-99.1

Filename: aub-ex99d1.htm · Sequence: 2

Exhibit 99.1

Contact: Alexander D. Dodd - (804) 486-2634

Executive Vice President / Chief Financial Officer

ATLANTIC UNION BANKSHARES REPORTS THIRD QUARTER FINANCIAL RESULTS

Richmond, Va., October 20, 2026 – Atlantic Union Bankshares Corporation (the “Company” or “Atlantic Union”) (NYSE: AUB) reported net income available to common shareholders of $133.7 million and basic and diluted earnings per common share of $0.95 and $0.94, respectively, for the third quarter of 2026 and adjusted operating earnings available to common shareholders(+) of $135.6 million and adjusted diluted operating earnings per common share(+) of $0.96 for the third quarter of 2026.

“Atlantic Union delivered a solid third quarter, with healthy loan growth, strong credit quality and continued progress in expanding our earnings capacity,” said John C. Asbury, president and chief executive officer of Atlantic Union. “Excluding the expense associated with the redemption of our subordinated debt, our operating performance demonstrates the earnings power we have built over many years, which we believe positions us to deliver differentiated financial performance relative to our peers.”

“Atlantic Union is a story of transformation from a Virginia community bank into the largest regional bank headquartered in the lower Mid-Atlantic, with operations across Virginia and Maryland and a growing presence in North Carolina. Guided by our priorities of soundness, profitability and growth—in that order—we remain focused on sustainable, profitable growth and long-term value creation for our shareholders.”

STRATEGIC ACTIONS

Subordinated Debt

During the third quarter of 2026, the Company issued $250.0 million in aggregate principal amount of its 6.25% Fixed-to-Floating Rate Subordinated Notes due August 1, 2036 (the “2036 Subordinated Notes”). The 2036 Subordinated Notes convert to a floating rate equal to the three-month term Secured Overnight Financing Rate, plus a spread of 213 basis points on August 1, 2031. Net proceeds from the issuance, after underwriting discounts and offering expenses, were approximately $246.8 million.

The Company used the net proceeds to redeem the $168.0 million principal amount of its outstanding 4.25% Fixed-to-Floating Rate Subordinated Notes due 2029 (the “2029 Subordinated Notes”), plus accrued interest, and for general corporate purposes. The 2029 Subordinated Notes transitioned to a floating interest rate on November 15, 2024, and had a rate of 6.53% at the time of redemption. As a result of the redemption, the Company recognized a $2.7 million pre-tax loss on debt extinguishment in the third quarter of 2026, recorded within non-interest expense, reflecting the acceleration of acquisition-related fair value marks associated with the 2029 Subordinated Notes.

Share Repurchase Program

On May 5, 2026, the Company’s Board of Directors authorized a $250.0 million share repurchase program (the “Repurchase Program”) through May 5, 2027 in open market transactions or privately negotiated transactions, including pursuant to a trading plan in accordance with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended. During the third quarter of 2026, the Company repurchased approximately 1.5 million shares (or $62.5 million), at an average price of $41.38 per share. At September 30, 2026, approximately $177.5 million remained available under the Repurchase Program for future repurchases.

NET INTEREST INCOME

For the third quarter of 2026, net interest income was $328.4 million, an increase of $3.3 million from $325.1 million in the second quarter of 2026. Net interest income - fully taxable equivalent (“FTE”)(+) was $333.1 million in the third quarter of 2026, an increase of $3.4 million from $329.7 million in the second quarter of 2026. The increases from the prior quarter in both net interest income and net interest income (FTE)(+) were driven primarily by higher interest income on loans held for investment (“LHFI”), reflecting loan growth and increased loan accretion income. The aforementioned increases were partially offset by higher deposit interest expense, primarily resulting from increased costs on customer interest-bearing deposits, higher brokered deposit costs, and higher borrowing costs from both short-term and long-term borrowings. Long-term borrowing costs increased primarily due to the overlapping periods in which both the 2029 and 2036 Subordinated Notes were outstanding, as well as the larger principal amount of the 2036 Subordinated Notes.

For the third quarter of 2026, the Company’s net interest margin decreased 7 basis points from the prior quarter to 3.82%. Net interest margin (FTE)(+) decreased 6 basis points from the prior quarter to 3.88%. The decreases were driven primarily by a higher cost of funds which increased 7 basis points to 2.01% compared to the second quarter of 2026, primarily due to increased costs on interest-bearing customer deposits and higher brokered deposit costs. The yield on total earning assets (FTE)(+) was 5.89% for the third quarter of 2026, an increase of 1 basis point from the prior quarter, driven by higher loan balances and loan accretion income.

The Company’s net interest margin (FTE)(+) includes the impact of acquisition accounting fair value adjustments. Net accretion income for the quarter ended September 30, 2026 was $40.9 million, compared to $39.9 million for the quarter ended June 30, 2026. The impact of accretion and amortization for the periods presented is reflected in the following table (dollars in thousands):

Loan

Deposit

Borrowings

Accretion

Amortization

Total

For the quarter ended June 30, 2026

40,449

111

(621)

39,939

For the quarter ended September 30, 2026

41,298

(452)

40,865

ASSET QUALITY

Overview

At September 30, 2026, nonperforming assets (“NPAs”) as a percentage of total LHFI was 0.37%, a decrease of 2 basis points from June 30, 2026 and a decrease of 12 basis points from September 30, 2025, which was primarily driven by lower new nonaccruals in the current quarter. Accruing past due loans as a percentage of total LHFI totaled 0.34% at September 30, 2026, an increase of 6 basis points from June 30, 2026, and an increase of 7 basis points from September 30, 2025. Net charge-offs were 0.03% of total average LHFI (annualized) for the third quarter of 2026, unchanged from the second quarter of 2026, and a decrease of 53 basis points compared to the third quarter of 2025, which was primarily driven by charge-offs of two commercial and industrial loans in the third quarter of 2025. The allowance for credit losses (“ACL”) totaled $334.2 million at September 30, 2026, a $3.3 million increase from the prior quarter.

Nonperforming Assets

The following table shows a summary of NPA balances at the quarters ended (dollars in thousands):

September 30,

June 30,

March 31,

December 31,

September 30,

2026

2025

Nonaccrual loans

106,509

110,926

97,828

115,051

131,240

Foreclosed properties

1,964

1,756

1,856

1,826

2,001

Total nonperforming assets

108,473

112,682

99,684

116,877

133,241

The following table shows the activity in nonaccrual loans for the quarters ended (dollars in thousands):

September 30,

June 30,

March 31,

December 31,

September 30,

2026

2025

Beginning Balance

110,926

97,828

115,051

131,240

162,615

Net customer payments and other activity (1)

(8,683)

(9,330)

(33,934)

(21,667)

(17,947)

Additions (1)

6,220

24,283

17,679

7,816

25,333

Charge-offs

(1,746)

(1,855)

(909)

(2,307)

(37,410)

Loans returning to accruing status

—

(31)

(77)

Transfers to foreclosed property

(208)

—

(59)

—

(1,274)

Ending Balance

106,509

110,926

97,828

115,051

131,240

(1) Measurement period adjustments related to the fair values of certain Sandy Spring Bancorp, Inc. (“Sandy Spring”) acquired loans impacted the nonaccrual activity for the quarters ended March 31, 2026, December 31, 2025, and September 30, 2025, and were finalized upon conclusion of the measurement period on March 31, 2026.

Past Due Loans

At September 30, 2026, past due loans still accruing interest totaled $98.9 million or 0.34% of total LHFI, compared to $80.4 million or 0.28% of total LHFI at June 30, 2026, and $74.2 million or 0.27% of total LHFI at September 30, 2025. The increase in past due loans from the prior quarter was primarily within commercial real estate – non-owner occupied, commercial and industrial, and commercial real estate – owner occupied loan portfolios.

Allowance for Credit Losses

At September 30, 2026, the ACL was $334.2 million, comprised of an allowance for loan and lease losses (“ALLL”) of $301.4 million and a reserve for unfunded commitments (“RUC”) of $32.8 million. The ACL increased $3.3 million from the prior quarter, primarily reflecting the impact of loan growth during the third quarter of 2026. At September 30, 2026, the ALLL and ACL represented 1.03% and 1.14% of total LHFI, respectively, compared to 1.04% and 1.15% at June 30, 2026. The RUC coverage ratio was 0.11% at September 30, 2026, consistent with the prior quarter.

Net Charge-offs

Net charge-offs were $2.3 million or 0.03% of total average LHFI on an annualized basis for the third quarter of 2026, compared to $2.0 million or 0.03% (annualized) for the second quarter of 2026, and $38.6 million or 0.56% (annualized) for the third quarter of 2025. The decrease in net charge-offs for the third quarter of 2026 compared to the prior year was primarily due to the charge-offs of two commercial and industrial loans that were recorded in the third quarter of 2025 and had been partially reserved for previously.

Provision for Credit Losses

For the third quarter of 2026, the Company recorded a provision for credit losses of $5.7 million, compared to $11.7 million in the prior quarter, and $16.2 million in the third quarter of 2025. The decrease in the provision for credit losses compared to the prior quarter primarily reflected lower reserve requirements associated with a modest decline in the allowance coverage ratio, as well as slower loan growth relative to the second quarter of 2026. The decrease in the provision for credit losses compared to the third quarter of 2025 was primarily attributable to the charge-offs of two commercial and industrial loans that were recorded in the third quarter of 2025 and had been partially reserved for previously.

NONINTEREST INCOME

Noninterest income decreased $35.4 million to $54.8 million for the third quarter of 2026 from $90.2 million in the prior quarter, primarily driven by a $32.3 million pre-tax gain on the sale of the Company’s equity interest in Bearing Insurance Group, LLC (“Bearing Insurance”) recognized during the second quarter of 2026.

Adjusted operating noninterest income(+), which excludes the pre-tax gain on sale of equity interest in Bearing Insurance ($32.3 million in the second quarter of 2026) and the pre-tax gains on sale of securities ($10 thousand in the third quarter of 2026 and $4 thousand in the second quarter of 2026), decreased $3.1 million to $54.8 million, compared to $57.9 million in the prior quarter. This decrease was primarily due to a $2.0 million decline in loan-related interest rate swap fees driven by lower transaction volumes, a $1.1 million decrease in mortgage banking income due to lower mortgage origination volumes and lower gain on sale margins, and a $1.0 million decrease in fiduciary and asset management fees.

NONINTEREST EXPENSE

Noninterest expense increased $5.2 million to $204.3 million for the third quarter of 2026 from $199.1 million in the prior quarter, primarily driven by the $2.7 million pre-tax loss on debt extinguishment recognized in the third quarter of 2026.

Adjusted operating noninterest expense(+), which excludes the pre-tax loss on debt extinguishment ($2.7 million in the third quarter of 2026) and amortization of intangible assets ($14.9 million in the third quarter of 2026 and $15.1 million in the second quarter of 2026), increased $2.7 million to $186.7 million, compared to $184.0 million in the prior quarter. This increase was primarily due to a $2.6 million seasonal increase in marketing and advertising expense, a $1.7 million increase in salaries and benefits expense, primarily due to an increase in variable incentive compensation expense and additional full-time equivalent employees associated with the Company’s North Carolina expansion, and a $1.5 million increase in technology and data processing expense, primarily reflecting ongoing investments in strategic technology initiatives and related software maintenance costs. These increases were partially offset by a $3.4 million decrease in other expenses, primarily driven by gains on the sales of other real estate owned during the third quarter of 2026.

INCOME TAXES

The Company’s effective tax rate was 21.1% for the quarter ended September 30, 2026, compared to 20.8% for the quarter ended September 30, 2025. For the nine months ended September 30, 2026 and September 30, 2025, the effective tax rates were 21.1% and 17.2%, respectively. The increase in the effective tax rate for the nine months ended September 30, 2026 was primarily due to a $7.7 million income tax benefit recognized in the second quarter of 2025 related to the re-evaluation of the Company’s state net deferred tax asset following the Sandy Spring acquisition, as well as an overall increase in the proportion of taxable income to tax-exempt income.

KEY BALANCE SHEET COMPONENTS AND CAPITAL RATIOS

The following tables summarize the Company’s key balance sheet components and capital ratios as of the dates presented (dollars in millions, except per share data):

9/30/2026

6/30/2026

QoQ

QoQ % change(1)

9/30/2025

YoY

YoY % change

(unaudited)

Assets

38,352

38,100

252

2.62

37,073

1,279

3.45

Cash and cash equivalents

701

990

(289)

(115.82)

795

(94)

(11.82)

LHFI (net of unearned income)

29,297

28,673

624

8.63

27,361

1,936

7.08

Quarterly Average LHFI (net of unearned income)

28,928

28,244

684

9.61

27,386

1,542

5.63

Total Securities

4,784

4,942

(158)

(12.68)

5,311

(527)

(9.92)

Securities available for sale ("AFS")

3,749

3,877

(128)

(13.10)

4,268

(519)

(12.16)

Securities held to maturity ("HTM")

845

861

(16)

(7.37)

884

(39)

(4.41)

Restricted Stock, at cost

190

204

(14)

(27.23)

159

19.50

Deposits

30,966

30,468

498

6.48

30,665

301

0.98

Quarterly Average Deposits

30,508

30,391

117

1.53

31,032

(524)

(1.69)

Borrowings

1,622

1,881

(259)

(54.63)

860

762

88.60

Quarterly Average Borrowings

1,717

1,371

346

100.13

869

848

97.58

Cash dividends paid per common share

0.37

—

0.34

0.03

8.82

Dividends on each share of Series A preferred stock (2)

171.88

—

171.88

—

(1) Quarter over quarter percentage changes are calculated on an annualized basis except for dividends, which are presented on a per share basis.

(2) The preferred stock dividend was equivalent to $0.43 per outstanding depositary share for each period presented.

9/30/2026

6/30/2026

9/30/2025

Common equity Tier 1 capital ratio (3)

10.39

10.41

9.92

Tier 1 capital ratio (3)

10.91

10.94

10.46

Total capital ratio (3)

14.55

14.15

13.81

Leverage ratio (Tier 1 capital to average assets) (3)

9.59

9.62

8.92

Common equity to total assets

12.74

13.09

12.81

Tangible common equity to tangible assets (+)

7.87

8.17

7.69

(3) All ratios at September 30, 2026 are estimates and subject to change pending the Company’s filing of its FR Y-9C. All other periods are presented as filed.

The key drivers of the consolidated balance sheet changes for the periods presented are summarized below:

● Total assets increased from the prior quarter primarily due to increases in LHFI, partially offset by a decrease in cash and cash equivalents. Total assets increased from the same period in the prior year primarily due to an increase in LHFI, partially offset by a decrease in total securities.

● LHFI and quarterly average LHFI increased compared to both June 30, 2026 and September 30, 2025. The increase in LHFI from the prior quarter was primarily due to higher balances in the commercial and industrial, other commercial, and construction and land development loan portfolios. The increase in LHFI from the same period in the prior year was primarily due to increases in commercial and industrial, commercial real estate – non-owner occupied, and other commercial portfolios.

● Total securities decreased from June 30, 2026, primarily reflecting the impact of higher market interest rates on the fair value of AFS securities, with the related unrealized losses reflected in accumulated other comprehensive income (“AOCI”). Total securities decreased from September 30, 2025 primarily due to principal repayments of AFS mortgage-backed securities and the impact of higher market interest rates on the fair value of AFS securities.

● Common equity to total assets and tangible common equity to tangible assets decreased from June 30, 2026, as the negative impact of changes in AOCI associated with higher market interest rates and lower fair values of AFS securities more than offset capital generated through earnings during the quarter.

● Total deposits and quarterly average deposits increased from the prior quarter due to increases in brokered and demand deposits, partially offset by a decrease in interest-bearing customer deposits. Compared to the same period in the prior year, total deposits increased due to higher interest-bearing deposits, partially offset by lower demand deposits.

● Total borrowings decreased from June 30, 2026 and increased from September 30, 2025. The decrease from the prior quarter was primarily due to decreases in Federal Home Loan Bank (“FHLB”) advances, partially offset by an increase in long-term borrowings due to the net impact of the 2036 Subordinated Notes issuance and 2029 Subordinated Notes redemption. The increase from the same period in the prior year was primarily due to increases in FHLB advances and an increase in long-term borrowings due to the Subordinated Notes activity noted above.

● Since the inception of the Repurchase Program authorized on May 5, 2026, the Company has repurchased approximately 1.8 million shares for $72.5 million at an average price of $40.84 per share. As of September 30, 2026, approximately $177.5 million remained available under the Repurchase Program for future share repurchases.

(+) These are financial measures not calculated in accordance with generally accepted accounting principles (“GAAP”). For a reconciliation of these non-GAAP financial measures see the “Alternative Performance Measures (non-GAAP)” section of the Key Financial Results.

ABOUT ATLANTIC UNION BANKSHARES CORPORATION

Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located in Virginia, Maryland, North Carolina and Washington, D.C. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; AUB Investments, Inc., which provides investment services; and Atlantic Union Capital Markets, Inc., which provides capital market services.

THIRD QUARTER 2026 EARNINGS RELEASE CONFERENCE CALL

The Company will hold a conference call and webcast for investors at 9:00 a.m. Eastern Time on Tuesday, October 20, 2026, during which management will review our financial results for the third quarter of 2026 and provide an update on our recent activities.

The listen-only webcast and the accompanying slides can be accessed at:

https://edge.media-server.com/mmc/p/gb9rrzsf.

For analysts who wish to participate in the conference call, please register at the following URL:

https://register-conf.media-server.com/register/BI45511d3d3f0e45e98658c057c5f2478a.

To participate in the conference call, you must use the link to receive an audio dial-in number and an Access PIN.

A replay of the webcast, and the accompanying slides, will be available on the Company’s website for 90 days at: https://investors.atlanticunionbank.com/.

NON-GAAP FINANCIAL MEASURES

In reporting the results as of and for the period ended September 30, 2026, 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 or as a substitute for comparable measures calculated in accordance with GAAP. In addition, our non-GAAP financial measures

may not be comparable to non-GAAP financial measures of other companies. We use the non-GAAP financial measures discussed herein in our analysis of our performance. Management believes that these non-GAAP financial measures provide additional understanding of our ongoing operations, enhance the comparability of our results of operations with prior periods and show the effects of significant gains and charges in the periods presented without the impact of items or events that may obscure trends in our underlying performance. Non-GAAP financial measures may be identified with the symbol (+) and may be labeled as adjusted. For a reconciliation of these measures to their most directly comparable GAAP measures and additional information about these non-GAAP financial measures, see “Alternative Performance Measures (non-GAAP)” in the tables within the section “Key Financial Results.”

FORWARD-LOOKING STATEMENTS

This press release 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 made in Mr. Asbury’s quotations; statements regarding our strategic expansion into North Carolina, including our expectations regarding new branch openings; statements regarding our investments in strategic technology initiatives; statements regarding our business, financial and operating results, including our deposit base and funding; the impact of changes in economic conditions, the interest rate environment, economic, fiscal or trade policy and the potential related impacts on our business and loan demand; management’s beliefs regarding our liquidity, capital resources, asset quality, CRE loan portfolio and our customer relationships; and statements that include other projections, predictions, expectations, or beliefs about future events or results or otherwise are not statements of historical fact. Such forward-looking statements are based on certain assumptions as of the time they are made, and are inherently subject to known and unknown risks, uncertainties, and other factors, some of which cannot be predicted or quantified, that may cause actual results, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are often characterized by the use of qualified words (and their derivatives) such as “expect,” “believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,” “will,” “may,” “view,” “opportunity,” “seek to,” “potential,” “continue,” “confidence,” or words of similar meaning or other statements concerning opinions or judgment of the Company and our management about future events. Although we believe that our expectations with respect to forward-looking statements are based upon reasonable assumptions within the bounds of our existing knowledge of our business and operations, there can be no assurance that actual future results, performance, or achievements of, or trends affecting, us will not differ materially from any projected future results, performance, achievements or trends expressed or implied by such forward-looking statements. Actual future results, performance, achievements or trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to, the effects of or changes in:

● market interest rates and their related impacts on macroeconomic conditions, customer and client behavior, our funding costs and our loan and securities portfolios;

● economic conditions, including inflation and recessionary conditions and their related impacts on economic growth and customer and client behavior;

● U.S. and global trade policies and tensions, including changes in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability;

● volatility in the financial services sector, including failures or rumors of failures of other depository institutions, along with actions taken by governmental agencies to address such turmoil, and the effects on the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital;

● legislative or regulatory changes and requirements, including changes in federal, state or local tax laws and changes impacting the rulemaking, supervision, examination and enforcement priorities of the federal banking agencies;

● the sufficiency of liquidity and changes in our capital position;

● general economic and financial market conditions, in the United States generally and particularly in the markets in which we operate and which our loans are concentrated, including the effects of declines in real estate values, an increase in unemployment levels, U.S. fiscal debt, budget, and tax matters, U.S. government shutdowns, and slowdowns in economic growth;

● the possibility that the anticipated benefits of our acquisition activity, including anticipated cost savings and strategic gains, are not realized when expected or at all, including as a result of the strength of the economy, competitive factors in the areas where we do business, or as a result of other unexpected factors or events;

● potential adverse reactions or changes to business or employee relationships;

● our ability to identify, recruit and retain key employees;

● monetary, fiscal and regulatory policies of the U.S. government, including policies of the U.S. Department of the Treasury and the Federal Reserve;

● the quality or composition of our loan or investment portfolios and changes in these portfolios;

● demand for loan products and financial services in our market areas;

● our ability to manage our growth or implement our growth strategy;

● the effectiveness of expense reduction plans;

● the introduction of new lines of business or new products and services;

● real estate values in our lending area;

● changes in accounting principles, standards, rules, and interpretations, and the related impact on our financial statements;

● an insufficient ACL or volatility in the ACL resulting from the Current Expected Credit Losses (“CECL”) methodology, either alone or as that may be affected by changing economic conditions, credit concentrations, inflation, changing interest rates, or other factors;

● concentrations of loans secured by real estate, particularly CRE;

● the effectiveness of our credit processes and management of our credit risk;

● our ability to compete in the market for financial services and increased competition from fintech companies;

● technological risks and developments, and cyber threats, attacks, or events;

● emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action or increase the risk of a cybersecurity attack or the probability that such an attack would be successful;

● operational, technological, cultural, regulatory, legal, credit, and other risks associated with the exploration, consummation and integration of potential future acquisitions, whether involving stock or cash consideration;

● the potential adverse effects of unusual and infrequently occurring events, such as weather-related disasters, terrorist acts, geopolitical conflicts or public health events (such as pandemics), and of governmental and societal responses thereto; these potential adverse effects may include, without limitation, adverse effects on macroeconomic conditions, the ability of our borrowers to satisfy their obligations to us, on the value of collateral securing loans, on the demand for our loans or our other products and services, on supply chains and methods used to distribute products and services, on incidents of cyberattack and fraud, on our liquidity or capital positions, on risks posed by reliance on third-party service providers, on other aspects of our business operations and on financial markets and economic growth;

● performance by our counterparties or vendors;

● deposit flows;

● the availability of financing and the terms thereof;

● the level of prepayments on loans and mortgage-backed securities;

● actual or potential claims, damages, and fines related to litigation or government actions, which may result in, among other things, additional costs, fines, penalties, restrictions on our business activities, reputational harm, or other adverse consequences;

● any event or development that would cause us to conclude that there was an impairment of any asset, including intangible assets, such as goodwill; and

● other factors, many of which are beyond our control.

Please also refer to such other factors as discussed throughout Part I, Item 1A. “Risk Factors” and Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our Annual Report on Form 10-K for the year ended December 31, 2025, and related disclosures in other filings, which have been filed with the U.S. Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. All risk factors and uncertainties described herein and therein should be considered in evaluating forward-looking statements, and all the forward-looking statements are expressly qualified by the cautionary statements contained or referred to herein and therein. The actual results or developments anticipated may not be realized or, even if substantially realized, they may not have the expected consequences to or effects on the Company or our businesses or operations. Readers are cautioned not to rely too heavily on forward-looking statements. Forward-looking statements speak only as of the date they are made. We do not intend or assume any obligation to update, revise or clarify any forward-looking statements that may be made from time to time by or on behalf of the Company, whether as a result of new information, future events or otherwise, except as required by law.

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)

As of & For Three Months Ended

As of & For Nine Months Ended

9/30/26

6/30/26

9/30/25

9/30/26

9/30/25

Results of Operations

Interest and dividend income

501,133

486,828

503,437

1,459,695

1,319,645

Interest expense

172,711

161,710

184,227

493,782

494,900

Net interest income

328,422

325,118

319,210

965,913

824,745

Provision for credit losses

5,731

11,737

16,233

20,205

139,578

Net interest income after provision for credit losses

322,691

313,381

302,977

945,708

685,167

Noninterest income

54,792

90,248

51,751

199,823

162,436

Noninterest expense

204,333

199,136

238,446

613,279

652,327

Income before income taxes

173,150

204,493

116,282

532,252

195,276

Income tax expense (benefit)

36,518

43,480

24,142

112,441

33,527

Net income

136,632

161,013

92,140

419,811

161,749

Dividends on preferred stock

2,967

8,901

Net income available to common shareholders

133,665

158,046

89,173

410,910

152,848

Interest earned on earning assets (FTE) (1)

505,826

491,389

507,856

1,473,501

1,332,184

Net interest income (FTE) (1)

333,115

329,679

323,629

979,719

837,284

Total revenue (FTE) (1)

387,907

419,927

375,380

1,179,542

999,720

Pre-tax pre-provision earnings (FTE) (1)

183,574

220,791

136,934

566,263

347,393

Key Ratios

Earnings per common share, diluted

0.94

1.11

0.63

2.89

1.22

Return on average assets (ROA)

1.43

1.73

0.98

1.49

0.65

Return on average equity (ROE)

10.54

12.60

7.51

10.98

5.06

Return on average tangible common equity (ROTCE) (2)(3)

19.59

23.42

15.51

20.56

10.81

Efficiency ratio

53.32

47.94

64.28

52.61

66.08

Efficiency ratio (FTE) (1)

52.68

47.42

63.52

51.99

65.25

Net interest margin

3.82

3.89

3.77

3.84

3.68

Net interest margin (FTE) (1)

3.88

3.94

3.83

3.89

3.73

Yields on earning assets (FTE) (1)

5.89

5.88

6.00

5.85

5.94

Average cost of interest-bearing liabilities

2.68

2.59

2.93

2.62

2.96

Average cost of deposits

2.00

1.93

2.18

1.94

2.22

Average cost of funds

2.01

1.94

2.17

1.96

2.21

Operating Measures (4)

Adjusted operating earnings

138,601

136,987

122,693

404,709

315,343

Adjusted operating earnings available to common shareholders

135,634

134,020

119,726

395,808

306,442

Adjusted operating pre-tax pre-provision earnings (FTE) (1) (7)

186,218

188,437

176,547

545,585

440,913

Adjusted operating earnings per common share, diluted

0.96

0.94

0.84

2.79

2.46

Adjusted operating ROA

1.45

1.47

1.30

1.44

1.26

Adjusted operating ROE

10.69

10.72

10.00

10.58

9.86

Adjusted operating ROTCE (2)(3)

19.85

20.11

20.09

19.86

19.73

Adjusted operating efficiency ratio (FTE) (1)(6)

48.14

47.47

48.79

48.47

50.45

Per Share Data

Earnings per common share, basic

0.95

1.11

0.63

2.90

1.23

Earnings per common share, diluted

0.94

1.11

0.63

2.89

1.22

Cash dividends paid per common share

0.37

0.34

1.11

1.02

Market value per share

37.95

42.31

35.29

37.95

35.29

Book value per common share

34.78

35.14

33.52

34.78

33.52

Tangible book value per common share (2)

20.36

20.77

18.99

20.36

18.99

Price to earnings ratio, diluted

10.14

9.50

14.16

9.81

21.55

Price to book value per common share ratio

1.09

1.20

1.05

1.09

1.05

Price to tangible book value per common share ratio (2)

1.86

2.04

1.86

Unvested shares of restricted stock awards

462,710

481,488

885,686

462,710

885,686

Weighted average common shares outstanding, basic

141,293,231

142,099,251

141,728,909

141,762,468

124,402,891

Weighted average common shares outstanding, diluted

141,641,618

142,320,806

141,986,217

142,078,792

124,794,832

Common shares outstanding at end of period

140,445,286

141,924,165

141,732,071

140,445,286

141,732,071

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)

As of & For Three Months Ended

As of & For Nine Months Ended

9/30/26

6/30/26

9/30/25

9/30/26

9/30/25

Capital Ratios

Common equity Tier 1 capital ratio (5)

10.39

10.41

9.92

10.39

9.92

Tier 1 capital ratio (5)

10.91

10.94

10.46

10.91

10.46

Total capital ratio (5)

14.55

14.15

13.81

14.55

13.81

Leverage ratio (Tier 1 capital to average assets) (5)

9.59

9.62

8.92

9.59

8.92

Common equity to total assets

12.74

13.09

12.81

12.74

12.81

Tangible common equity to tangible assets (2)

7.87

8.17

7.69

7.87

7.69

Financial Condition

Assets

38,351,665

38,099,868

37,072,733

38,351,665

37,072,733

LHFI (net of unearned income)

29,296,616

28,673,271

27,361,173

29,296,616

27,361,173

Securities

4,784,392

4,941,974

5,310,629

4,784,392

5,310,629

Earning Assets

34,350,279

34,110,112

33,151,873

34,350,279

33,151,873

Goodwill

1,754,875

1,726,386

1,754,875

1,726,386

Amortizable intangibles, net

270,016

284,962

333,236

270,016

333,236

Deposits

30,965,529

30,468,257

30,665,324

30,965,529

30,665,324

Borrowings

1,622,403

1,881,340

860,312

1,622,403

860,312

Stockholders' equity

5,050,604

5,153,414

4,917,058

5,050,604

4,917,058

Tangible common equity (2)

2,859,356

2,947,220

2,691,079

2,859,356

2,691,079

Loans held for investment, net of unearned income

Construction and land development

2,025,385

1,859,217

2,163,182

2,025,385

2,163,182

Commercial real estate - owner occupied

4,356,099

4,308,292

4,335,919

4,356,099

4,335,919

Commercial real estate - non-owner occupied

7,275,895

7,303,555

6,805,302

7,275,895

6,805,302

Multifamily real estate

2,382,541

2,429,355

2,196,467

2,382,541

2,196,467

Commercial & Industrial

5,850,846

5,628,880

4,956,770

5,850,846

4,956,770

Residential 1-4 Family - Commercial

984,149

1,008,438

1,105,067

984,149

1,105,067

Residential 1-4 Family - Consumer

2,991,674

2,930,665

2,799,669

2,991,674

2,799,669

Residential 1-4 Family - Revolving

1,346,890

1,312,531

1,186,298

1,346,890

1,186,298

Auto

110,418

131,477

211,900

110,418

211,900

Consumer

107,158

110,909

121,620

107,158

121,620

Other Commercial

1,865,561

1,649,952

1,478,979

1,865,561

1,478,979

Total LHFI

29,296,616

28,673,271

27,361,173

29,296,616

27,361,173

Deposits

Interest checking accounts

7,844,500

7,812,504

6,916,702

7,844,500

6,916,702

Money market accounts

6,556,864

6,821,997

6,932,836

6,556,864

6,932,836

Savings accounts

2,723,123

2,567,073

2,882,897

2,723,123

2,882,897

Customer time deposits of more than $250,000

1,869,330

1,876,425

1,773,710

1,869,330

1,773,710

Customer time deposits of $250,000 or less

4,124,050

4,104,769

4,007,070

4,124,050

4,007,070

Time deposits

5,993,380

5,981,194

5,780,780

5,993,380

5,780,780

Total interest-bearing customer deposits

23,117,867

23,182,768

22,513,215

23,117,867

22,513,215

Brokered deposits

1,085,988

557,751

1,047,467

1,085,988

1,047,467

Total interest-bearing deposits

24,203,855

23,740,519

23,560,682

24,203,855

23,560,682

Demand deposits

6,761,674

6,727,738

7,104,642

6,761,674

7,104,642

Total deposits

30,965,529

30,468,257

30,665,324

30,965,529

30,665,324

Averages

Assets

37,975,963

37,433,973

37,377,383

37,557,572

33,378,378

LHFI (net of unearned income)

28,927,866

28,243,611

27,386,338

28,337,859

24,336,012

Loans held for sale

22,140

23,303

27,185

20,572

604,483

Securities

4,895,169

4,976,527

4,955,297

5,025,255

4,360,629

Earning assets

34,091,046

33,544,840

33,563,417

33,673,838

29,973,209

Deposits

30,507,775

30,390,719

31,031,655

30,370,700

27,619,076

Time deposits

6,422,120

6,086,936

6,283,031

6,184,345

5,856,307

Interest-bearing deposits

23,885,413

23,654,149

24,071,758

23,666,300

21,457,491

Borrowings

1,717,294

1,371,046

868,783

1,488,581

910,077

Interest-bearing liabilities

25,602,707

25,025,195

24,940,541

25,154,881

22,367,568

Stockholders' equity

5,144,943

5,125,495

4,866,989

5,113,117

4,276,987

Tangible common equity (2)

2,946,399

2,911,942

2,647,488

2,906,612

2,301,146

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)

As of & For Three Months Ended

As of & For Nine Months Ended

9/30/26

6/30/26

9/30/25

9/30/26

9/30/25

Asset Quality

Allowance for Credit Losses (ACL)(8)

Beginning balance, Allowance for loan and lease losses (ALLL)

298,756

291,100

315,574

295,108

178,644

Add: Recoveries

2,276

1,327

1,847

4,911

4,368

Less: Charge-offs

4,547

3,313

40,440

10,761

45,905

Add: Initial Allowance - Purchased Credit Deteriorated (PCD) loans

—

28,265

Add: Initial Provision - Non-PCD loans

—

89,538

Add: Provision for loan losses

4,947

9,642

16,054

12,174

38,125

Ending balance, ALLL

301,432

298,756

293,035

301,432

293,035

Beginning balance, Reserve for unfunded commitments (RUC)

32,227

30,828

26,778

26,161

15,041

Add: Initial Provision - RUC acquired loans

—

11,425

Add: Provision for unfunded commitments

587

1,399

173

6,653

485

Ending balance, RUC

32,814

32,227

26,951

32,814

26,951

Total ACL

334,246

330,983

319,986

334,246

319,986

ACL / total LHFI

1.14

1.15

1.17

1.14

1.17

ALLL / total LHFI

1.03

1.04

1.07

1.03

1.07

Net charge-offs / total average LHFI (annualized)

0.03

0.56

0.03

0.23

Provision for loan losses/ total average LHFI (annualized)

0.07

0.14

0.23

0.06

0.70

Nonperforming Assets

Construction and land development

4,071

4,441

61,436

4,071

61,436

Commercial real estate - owner occupied

5,594

7,130

6,467

5,594

6,467

Commercial real estate - non-owner occupied

13,801

12,478

13,125

13,801

13,125

Multifamily real estate

20,529

23,399

1,583

20,529

1,583

Commercial & Industrial

30,397

31,423

9,193

30,397

9,193

Residential 1-4 Family - Commercial

1,778

2,115

6,615

1,778

6,615

Residential 1-4 Family - Consumer

24,169

24,117

23,623

24,169

23,623

Residential 1-4 Family - Revolving

4,379

4,983

5,444

4,379

5,444

Auto

297

374

556

297

556

Consumer

Other Commercial

1,491

450

3,161

1,491

3,161

Nonaccrual loans

106,509

110,926

131,240

106,509

131,240

Foreclosed property

1,964

1,756

2,001

1,964

2,001

Total nonperforming assets (NPAs)

108,473

112,682

133,241

108,473

133,241

Construction and land development

2,353

331

1,856

2,353

1,856

Commercial real estate - owner occupied

4,558

7,503

2,790

4,558

2,790

Commercial real estate - non-owner occupied

1,735

7,597

2,283

1,735

2,283

Multifamily real estate

3,541

2,088

3,541

2,088

Commercial & Industrial

1,904

2,250

1,005

1,904

1,005

Residential 1-4 Family - Commercial

557

362

2,570

557

2,570

Residential 1-4 Family - Consumer

7,549

5,954

2,955

7,549

2,955

Residential 1-4 Family - Revolving

5,170

4,319

1,816

5,170

1,816

Auto

317

219

348

317

348

Consumer

327

311

327

311

Other Commercial

4,141

1,616

—

4,141

—

LHFI ≥ 90 days and still accruing

32,152

33,725

18,022

32,152

18,022

Total NPAs and LHFI ≥ 90 days

140,625

146,407

151,263

140,625

151,263

NPAs / total LHFI

0.37

0.39

0.49

0.37

0.49

NPAs / total assets

0.28

0.30

0.36

0.28

0.36

ALLL / nonaccrual loans

283.01

269.33

223.28

283.01

223.28

ALLL/ nonperforming assets

277.89

265.13

219.93

277.89

219.93

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)

As of & For Three Months Ended

As of & For Nine Months Ended

9/30/26

6/30/26

9/30/25

9/30/26

9/30/25

Past Due Detail

Construction and land development

474

593

1,387

474

1,387

Commercial real estate - owner occupied

13,431

9,636

5,346

13,431

5,346

Commercial real estate - non-owner occupied

8,729

474

4,295

8,729

4,295

Multifamily real estate

249

1,325

3,113

249

3,113

Commercial & Industrial

3,085

2,512

4,902

3,085

4,902

Residential 1-4 Family - Commercial

1,909

2,140

2,843

1,909

2,843

Residential 1-4 Family - Consumer

2,359

1,557

1,871

2,359

1,871

Residential 1-4 Family - Revolving

3,929

4,297

3,074

3,929

3,074

Auto

1,797

1,853

2,744

1,797

2,744

Consumer

226

310

329

226

329

Other Commercial

766

2,516

—

766

—

LHFI 30-59 days past due

36,954

27,213

29,904

36,954

29,904

Construction and land development

850

2,210

5,784

850

5,784

Commercial real estate - owner occupied

6,128

2,112

2,217

6,128

2,217

Commercial real estate - non-owner occupied

4,382

871

—

4,382

—

Multifamily real estate

—

732

2,553

—

2,553

Commercial & Industrial

6,523

1,830

8,397

6,523

8,397

Residential 1-4 Family - Commercial

558

1,111

803

558

803

Residential 1-4 Family - Consumer

6,101

6,985

3,320

6,101

3,320

Residential 1-4 Family - Revolving

2,090

1,732

2,162

2,090

2,162

Auto

635

465

867

635

867

Consumer

744

320

179

744

179

Other Commercial

1,826

1,051

—

1,826

—

LHFI 60-89 days past due

29,837

19,419

26,282

29,837

26,282

Past Due and still accruing

98,943

80,357

74,208

98,943

74,208

Past Due and still accruing / total LHFI

0.34

0.28

0.27

0.34

0.27

Alternative Performance Measures (non-GAAP)

Net interest income (FTE) (1)

Net interest income (GAAP)

328,422

325,118

319,210

965,913

824,745

FTE adjustment

4,693

4,561

4,419

13,806

12,539

Net interest income (FTE) (non-GAAP)

333,115

329,679

323,629

979,719

837,284

Noninterest income (GAAP)

54,792

90,248

51,751

199,823

162,436

Total revenue (FTE) (non-GAAP)

387,907

419,927

375,380

1,179,542

999,720

Less: Noninterest expense (GAAP)

204,333

199,136

238,446

613,279

652,327

Pre-tax pre-provision earnings (FTE) (non-GAAP)

183,574

220,791

136,934

566,263

347,393

Average earning assets

34,091,046

33,544,840

33,563,417

33,673,838

29,973,209

Net interest margin

3.82

3.89

3.77

3.84

3.68

Net interest margin (FTE)

3.88

3.94

3.83

3.89

3.73

Tangible Assets (2)

Ending assets (GAAP)

38,351,665

38,099,868

37,072,733

38,351,665

37,072,733

Less: Ending goodwill

1,754,875

1,726,386

1,754,875

1,726,386

Less: Ending amortizable intangibles

270,016

284,962

333,236

270,016

333,236

Ending tangible assets (non-GAAP)

36,326,774

36,060,031

35,013,111

36,326,774

35,013,111

Tangible Common Equity (2)

Ending equity (GAAP)

5,050,604

5,153,414

4,917,058

5,050,604

4,917,058

Less: Ending goodwill

1,754,875

1,726,386

1,754,875

1,726,386

Less: Ending amortizable intangibles

270,016

284,962

333,236

270,016

333,236

Less: Perpetual preferred stock

166,357

Ending tangible common equity (non-GAAP)

2,859,356

2,947,220

2,691,079

2,859,356

2,691,079

Average equity (GAAP)

5,144,943

5,125,495

4,866,989

5,113,117

4,276,987

Less: Average goodwill

1,754,875

1,711,081

1,747,837

1,547,051

Less: Average amortizable intangibles

277,313

292,322

342,064

292,312

262,434

Less: Average perpetual preferred stock

166,356

Average tangible common equity (non-GAAP)

2,946,399

2,911,942

2,647,488

2,906,612

2,301,146

ROTCE (2)(3)

Net income available to common shareholders (GAAP)

133,665

158,046

89,173

410,910

152,848

Plus: Amortization of intangibles, tax effected

11,807

11,957

14,335

35,967

33,161

Net income available to common shareholders before amortization of intangibles (non-GAAP)

145,472

170,003

103,508

446,877

186,009

Return on average tangible common equity (ROTCE)

19.59

23.42

15.51

20.56

10.81

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)

As of & For Three Months Ended

As of & For Nine Months Ended

9/30/26

6/30/26

9/30/25

9/30/26

9/30/25

Operating Measures (4)

Net income (GAAP)

136,632

161,013

92,140

419,811

161,749

Plus: Merger-related costs, net of tax

—

26,856

6,956

94,847

Plus: CECL Day 1 non-PCD loans and RUC provision expense, net of tax

—

77,742

Plus: Loss on debt extinguishment, net of tax

1,977

—

1,977

—

Less: Gain (loss) on sale of securities, net of tax

(64)

Less: (Loss) gain on CRE loan sale, net of tax

—

(3,700)

—

8,405

Less: Gain on sale of equity interest in Cary Street Partners ("CSP"), net of tax

—

10,654

Less: Gain on sale of equity interest in Bearing Insurance, net of tax

—

24,023

—

24,023

—

Adjusted operating earnings (non-GAAP)

138,601

136,987

122,693

404,709

315,343

Less: Dividends on preferred stock

2,967

8,901

Adjusted operating earnings available to common shareholders (non-GAAP)

135,634

134,020

119,726

395,808

306,442

Operating Efficiency Ratio (1)(6)

Noninterest expense (GAAP)

204,333

199,136

238,446

613,279

652,327

Less: Loss on debt extinguishment

2,654

—

2,654

—

Less: Amortization of intangible assets

14,946

15,136

18,145

45,528

41,976

Less: Merger-related costs

—

34,812

9,034

118,652

Adjusted operating noninterest expense (non-GAAP)

186,733

184,000

185,489

556,063

491,699

Noninterest income (GAAP)

54,792

90,248

51,751

199,823

162,436

Less: Gain (loss) on sale of securities

(83)

Less: (Loss) gain on CRE loan sale

—

(4,805)

—

10,915

Less: Gain on sale of equity interest in CSP

—

14,300

Less: Gain on sale of equity interest in Bearing Insurance

—

32,350

—

32,350

—

Adjusted operating noninterest income (non-GAAP)

54,782

57,894

56,552

167,457

137,304

Net interest income (FTE) (non-GAAP) (1)

333,115

329,679

323,629

979,719

837,284

Adjusted operating noninterest income (non-GAAP)

54,782

57,894

56,552

167,457

137,304

Total adjusted revenue (FTE) (non-GAAP) (1)

387,897

387,573

380,181

1,147,176

974,588

Efficiency ratio

53.32

47.94

64.28

52.61

66.08

Efficiency ratio (FTE) (1)

52.68

47.42

63.52

51.99

65.25

Adjusted operating efficiency ratio (FTE) (1)(6)

48.14

47.47

48.79

48.47

50.45

Operating ROA & ROE (4)

Adjusted operating earnings (non-GAAP)

138,601

136,987

122,693

404,709

315,343

Average assets (GAAP)

37,975,963

37,433,973

37,377,383

37,557,572

33,378,378

Return on average assets (ROA) (GAAP)

1.43

1.73

0.98

1.49

0.65

Adjusted operating return on average assets (ROA) (non-GAAP)

1.45

1.47

1.30

1.44

1.26

Average equity (GAAP)

5,144,943

5,125,495

4,866,989

5,113,117

4,276,987

Return on average equity (ROE) (GAAP)

10.54

12.60

7.51

10.98

5.06

Adjusted operating return on average equity (ROE) (non-GAAP)

10.69

10.72

10.00

10.58

9.86

Operating ROTCE (2)(3)(4)

Adjusted operating earnings available to common shareholders (non-GAAP)

135,634

134,020

119,726

395,808

306,442

Plus: Amortization of intangibles, tax effected

11,807

11,957

14,335

35,967

33,161

Adjusted operating earnings available to common shareholders before amortization of intangibles (non-GAAP)

147,441

145,977

134,061

431,775

339,603

Average tangible common equity (non-GAAP)

2,946,399

2,911,942

2,647,488

2,906,612

2,301,146

Adjusted operating return on average tangible common equity (non-GAAP)

19.85

20.11

20.09

19.86

19.73

Operating pre-tax pre-provision earnings (FTE) (7)

Net income (GAAP)

136,632

161,013

92,140

419,811

161,749

Plus: Provision for credit losses

5,731

11,737

16,233

20,205

139,578

Plus: Income tax expense

36,518

43,480

24,142

112,441

33,527

Plus: Merger-related costs

—

34,812

9,034

118,652

Plus: FTE adjustment

4,693

4,561

4,419

13,806

12,539

Plus: Loss on debt extinguishment

2,654

—

2,654

—

Less: Gain (loss) on sale of securities

(83)

Less: (Loss) gain on CRE loan sale

—

(4,805)

—

10,915

Less: Gain on sale of equity interest in CSP

—

14,300

Less: Gain on sale of equity interest in Bearing Insurance

—

32,350

—

32,350

—

Adjusted operating pre-tax pre-provision earnings (FTE) (non-GAAP)

186,218

188,437

176,547

545,585

440,913

Less: Dividends on preferred stock

2,967

8,901

Adjusted operating pre-tax pre-provision earnings available to common shareholders (FTE) (non-GAAP)

183,251

185,470

173,580

536,684

432,012

Weighted average common shares outstanding, diluted

141,641,618

142,320,806

141,986,217

142,078,792

124,794,832

Adjusted operating pre-tax pre-provision earnings per common share, diluted (FTE)

1.29

1.30

1.22

3.78

3.46

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

KEY FINANCIAL RESULTS (UNAUDITED)

(Dollars in thousands, except share data)

As of & For Three Months Ended

As of & For Nine Months Ended

9/30/26

6/30/26

9/30/25

9/30/26

9/30/25

Mortgage Origination Held for Sale Volume

Refinance Volume

14,466

12,226

11,296

52,067

36,457

Purchase Volume

82,574

98,624

97,729

241,741

262,654

Total Mortgage loan originations held for sale

97,040

110,850

109,025

293,808

299,111

% of originations held for sale that are refinances

14.9

11.0

10.4

17.7

12.2

Wealth

Assets under management

16,578,808

16,522,020

14,819,080

16,578,808

14,819,080

Other Data

End of period full-time equivalent employees

3,111

3,073

3,100

3,111

3,100

(1) These are non-GAAP financial measures. The Company believes net interest income (FTE), total revenue (FTE), and total adjusted revenue (FTE), which are used in computing net interest margin (FTE), efficiency ratio (FTE) and adjusted operating efficiency ratio (FTE), provide valuable additional insight into the net interest margin and the efficiency ratio by adjusting for differences in tax treatment of interest income sources. The entire FTE adjustment is attributable to interest income on earning assets, which is used in computing the yield on earning assets. Interest expense and the related cost of interest-bearing liabilities and cost of funds ratios are not affected by the FTE components.

(2) These are non-GAAP financial measures. Tangible assets and tangible common equity are used in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible assets, tangible common equity and the related ratios are meaningful measures of capital adequacy because they provide a meaningful base for period-to-period and company-to-company comparisons, which the Company believes will assist investors in assessing the capital of the Company and its ability to absorb potential losses. The Company believes tangible common equity is an important indication of its ability to grow organically and through business combinations as well as its ability to pay dividends and to engage in various capital management strategies.

(3) These are non-GAAP financial measures. The Company believes that ROTCE is a meaningful supplement to GAAP financial measures and is useful to investors because it measures the performance of a business consistently across time without regard to whether components of the business were acquired or developed internally.

(4) These are non-GAAP financial measures. Adjusted operating measures exclude or include, as applicable, merger-related costs, CECL Day 1 non-PCD loans and RUC provision expense, loss on debt extinguishment, gain (loss) on sale of securities, (loss) gain on CRE loan sale, gain on sale of equity interest in CSP, and gain on sale of equity interest in Bearing Insurance. The Company believes these non-GAAP adjusted measures provide investors with important information about the continuing economic results of the Company’s operations.

(5) All ratios at September 30, 2026 are estimates and subject to change pending the Company’s filing of its FR Y-9C. All other periods are presented as filed.

(6) The adjusted operating efficiency ratio (FTE) excludes, as applicable, the amortization of intangible assets, merger-related costs, loss on debt extinguishment, gain (loss) on sale of securities, (loss) gain on CRE loan sale, gain on sale of equity interest in CSP, and gain on sale of equity interest in Bearing Insurance. This measure is similar to the measure used by the Company when analyzing corporate performance and is also similar to the measure used for incentive compensation. The Company believes this adjusted measure provides investors with important information about the continuing economic results of the Company’s operations.

(7) These are non-GAAP financial measures. Adjusted operating pre-tax pre-provision earnings (FTE) excludes or includes, as applicable, the provision for credit losses, which can fluctuate significantly from period-to-period under the CECL methodology, income tax expense, merger-related costs, FTE adjustment, loss on debt extinguishment, gain (loss) on sale of securities, (loss) gain on CRE loan sale, gain on sale of equity interest in CSP, and gain on sale of equity interest in Bearing Insurance. The Company believes this adjusted measure provides investors with important information about the continuing economic results of the Company’s operations.

(8) Effective January 1, 2026, the Company made certain changes to its ACL methodology as part of the continued enhancement of its credit modeling practices, resulting in more dynamic and precise modeling that allows for more granularity in the monitoring of our credit losses. The ACL methodology changes were accounted for prospectively as a change in accounting estimate and did not have a material impact on the Company’s Consolidated Financial Statements.

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share data)

September 30,

December 31,

September 30,

2026

2025

ASSETS

(unaudited)

(audited)

(unaudited)

Cash and cash equivalents:

Cash and due from banks

451,303

234,257

342,490

Interest-bearing deposits in other banks

237,178

706,014

447,323

Federal funds sold

12,280

26,191

4,852

Total cash and cash equivalents

700,761

966,462

794,665

Securities available for sale, at fair value

3,748,965

4,194,301

4,267,523

Securities held to maturity, at carrying value

845,326

884,216

883,786

Restricted stock, at cost

190,101

190,200

159,320

Loans held for sale

16,825

18,486

24,772

Loans held for investment, net of unearned income

29,296,616

27,796,167

27,361,173

Less: allowance for loan and lease losses

301,432

295,108

293,035

Total loans held for investment, net

28,995,184

27,501,059

27,068,138

Premises and equipment, net

166,524

166,752

168,315

Goodwill

1,754,875

1,733,287

1,726,386

Amortizable intangibles, net

270,016

315,544

333,236

Bank owned life insurance

683,224

672,890

669,102

Other assets

979,864

942,557

977,490

Total assets

38,351,665

37,585,754

37,072,733

LIABILITIES

Noninterest-bearing demand deposits

6,761,674

6,844,629

7,104,642

Interest-bearing deposits

24,203,855

23,627,007

23,560,682

Total deposits

30,965,529

30,471,636

30,665,324

Securities sold under agreements to repurchase

114,650

75,432

91,630

Other short-term borrowings

650,000

—

Long-term borrowings

857,753

771,860

768,682

Other liabilities

713,129

610,428

630,039

Total liabilities

33,301,061

32,579,356

32,155,675

Commitments and contingencies

STOCKHOLDERS' EQUITY

Preferred stock, $10.00 par value

173

Common stock, $1.33 par value

186,792

188,563

188,504

Additional paid-in capital

3,828,984

3,888,841

3,882,830

Retained earnings

1,437,072

1,184,908

1,128,659

Accumulated other comprehensive loss

(402,417)

(256,087)

(283,108)

Total stockholders' equity

5,050,604

5,006,398

4,917,058

Total liabilities and stockholders' equity

38,351,665

37,585,754

37,072,733

Common shares issued and outstanding

140,445,286

141,776,886

141,732,071

Common shares authorized

200,000,000

Preferred shares issued and outstanding

17,250

Preferred shares authorized

500,000

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

(Dollars in thousands, except share data)

Three Months Ended

Nine Months Ended

September 30,

June 30,

September 30,

2026

2025

2026

2025

Interest and dividend income:

Interest and fees on loans

451,734

436,807

441,944

1,308,169

1,172,224

Interest on deposits in other banks

1,741

2,165

12,478

6,051

19,982

Interest and dividends on securities:

Taxable

38,793

38,973

40,601

118,773

102,509

Nontaxable

8,865

8,883

8,414

26,702

24,930

Total interest and dividend income

501,133

486,828

503,437

1,459,695

1,319,645

Interest expense:

Interest on deposits

153,553

146,438

170,721

441,769

457,650

Interest on short-term borrowings

8,031

5,327

626

18,585

5,682

Interest on long-term borrowings

11,127

9,945

12,880

33,428

31,568

Total interest expense

172,711

161,710

184,227

493,782

494,900

Net interest income

328,422

325,118

319,210

965,913

824,745

Provision for credit losses

5,731

11,737

16,233

20,205

139,578

Net interest income after provision for credit losses

322,691

313,381

302,977

945,708

685,167

Noninterest income:

Service charges on deposit accounts

12,886

12,259

12,838

37,261

34,743

Other service charges, commissions and fees

2,266

2,286

2,325

6,490

6,332

Interchange fees

3,697

3,750

4,089

10,773

10,816

Fiduciary and asset management fees

20,452

21,460

18,595

62,090

43,014

Mortgage banking income

1,528

2,656

2,811

6,211

6,605

Bank owned life insurance income

5,954

5,734

5,116

16,888

15,979

Loan-related interest rate swap fees

4,530

6,484

5,911

14,988

10,043

Other operating income

3,479

35,619

45,122

34,904

Total noninterest income

54,792

90,248

51,751

199,823

162,436

Noninterest expense:

Salaries and benefits

113,978

112,309

108,319

339,700

293,676

Occupancy expenses

13,089

12,862

13,582

39,153

34,944

Furniture and equipment expenses

5,604

5,532

6,536

16,691

16,794

Technology and data processing

17,492

16,016

17,009

49,110

44,444

Professional services

6,193

6,154

8,774

18,115

21,268

Marketing and advertising expense

8,040

5,479

5,100

20,847

12,041

FDIC assessment premiums and other insurance

6,759

6,633

8,817

20,239

22,660

Franchise and other taxes

4,767

4,675

4,669

14,148

14,000

Loan-related expenses

2,544

2,723

1,933

8,118

4,461

Amortization of intangible assets

14,946

15,136

18,145

45,528

41,976

Merger-related costs

—

34,812

9,034

118,652

Other expenses

10,921

11,617

10,750

32,596

27,411

Total noninterest expense

204,333

199,136

238,446

613,279

652,327

Income before income taxes

173,150

204,493

116,282

532,252

195,276

Income tax expense

36,518

43,480

24,142

112,441

33,527

Net Income

136,632

161,013

92,140

419,811

161,749

Dividends on preferred stock

2,967

8,901

Net income available to common shareholders

133,665

158,046

89,173

410,910

152,848

Basic earnings per common share

0.95

1.11

0.63

2.90

1.23

Diluted earnings per common share

0.94

1.11

0.63

2.89

1.22

ATLANTIC UNION BANKSHARES CORPORATION AND SUBSIDIARIES

AVERAGE BALANCES, INCOME AND EXPENSES, YIELDS AND RATES (TAXABLE EQUIVALENT BASIS) (UNAUDITED)

(Dollars in thousands)

For the Quarter Ended

September 30, 2026

June 30, 2026

Average

Balance

Interest

Income /

Expense (1)

Yield /

Rate (1)(2)

Average

Balance

Interest

Income /

Expense (1)

Yield /

Rate (1)(2)

Assets:

Securities:

Taxable

3,580,534

38,793

4.30%

3,659,723

38,973

4.27%

Tax-exempt

1,314,635

11,222

3.39%

1,316,804

11,245

3.43%

Total securities

4,895,169

50,015

4.05%

4,976,527

50,218

4.05%

LHFI, net of unearned income (3)(4)

28,927,866

453,611

6.22%

28,243,611

438,508

6.23%

Other earning assets

268,011

2,200

3.26%

324,702

2,663

3.29%

Total earning assets

34,091,046

505,826

5.89%

33,544,840

491,389

5.88%

Allowance for loan and lease losses

(300,123)

(293,455)

Total non-earning assets

4,185,040

4,182,588

Total assets

37,975,963

37,433,973

Liabilities and Stockholders' Equity:

Interest-bearing deposits:

Transaction and money market accounts

14,828,582

84,865

2.27%

14,949,644

83,153

2.23%

Regular savings

2,634,711

12,207

1.84%

2,617,569

10,762

1.65%

Time deposits (5)

6,422,120

56,481

3.49%

6,086,936

52,523

3.46%

Total interest-bearing deposits

23,885,413

153,553

2.55%

23,654,149

146,438

2.48%

Other borrowings (6)

1,717,294

19,158

4.43%

1,371,046

15,272

4.47%

Total interest-bearing liabilities

25,602,707

172,711

2.68%

25,025,195

161,710

2.59%

Noninterest-bearing liabilities:

Demand deposits

6,622,362

6,736,570

Other liabilities

605,951

546,713

Total liabilities

32,831,020

32,308,478

Stockholders' equity

5,144,943

5,125,495

Total liabilities and stockholders' equity

37,975,963

37,433,973

Net interest income (FTE)

333,115

329,679

Interest rate spread

3.21%

3.29%

Cost of funds

2.01%

1.94%

Net interest margin (FTE)

3.88%

3.94%

(1) Income and yields are reported on a taxable equivalent basis using the statutory federal corporate tax rate of 21%.

(2) Rates and yields are annualized and calculated from rounded amounts in thousands, which appear above.

(3) Nonaccrual loans are included in average loans outstanding.

(4) Interest income on loans includes $41.3 million and $40.4 million for the three months ended September 30, 2026, and June 30, 2026, respectively, in accretion of the fair market value adjustments related to acquisitions.

(5) Interest expense on time deposits includes $19 thousand and $111 thousand for the three months ended September 30, 2026, and June 30, 2026, respectively, in accretion of the fair market value adjustments related to acquisitions.

(6) Interest expense on borrowings includes $452 thousand and $621 thousand for the three months ended September 30, 2026, and June 30, 2026, respectively, in amortization of the fair market value adjustments related to acquisitions.

EX-99.2

Filename: aub-ex99d2.htm · Sequence: 3

Exhibit 99.2

Q3 2026 Earnings

Presentation October 20, 2026

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 strategic expansion into North Carolina, including our expectations regarding new branch openings; statements regarding our investments in strategic technology initiatives; statements regarding our business, financial and operating results, including

our deposit base and funding; the impact of changes in economic conditions, the interest rate environment, economic, fiscal or trade policy and the potential related impacts on our business and loan demand; management’s beliefs regarding our liquidity, capital

resources, asset quality, CRE loan portfolio and our customer relationships; statements regarding our strategy, statements that include other projections, predictions, expectations, or beliefs about future events or results or otherwise are not statements of historical

fact, and statements on the slides entitled “Highlights”, “The Next Phase – Harnessing Organic Power” and “2026 Financial Outlook”. Such forward-looking statements are based on certain assumptions as of the time they are made, and are inherently subject to

known and unknown risks, uncertainties, and other factors, some of which cannot be predicted or quantified, that may cause actual results, performance, or achievements to be materially different from those expressed or implied by such forward-looking

statements. Forward-looking statements are often characterized by the use of qualified words (and their derivatives) such as “expect,” “believe,” “estimate,” “plan,” “project,” “anticipate,” “intend,” “will,” “may,” “view,” “opportunity,” “seek to,” “potential,”

“continue,” “confidence,” or words of similar meaning or other statements concerning opinions or judgment of Atlantic Union Bankshares Corporation (the “Company,” “AUB,” “we,” “us” or “our”) and our management about future events. Although we believe that

our expectations with respect to forward-looking statements are based on reasonable assumptions within the bounds of our existing knowledge of our business and operations, there can be no assurance that actual future results, performance, or achievements of,

or trends affecting, us will not differ materially from any projected future results, performance, achievements or trends expressed or implied by such forward-looking statements. Actual future results, performance, achievements or trends may differ materially from

historical results or those anticipated depending on a variety of factors, including, but not limited to, the effects of or changes in:

• market interest rates and their related impacts on macroeconomic conditions, customer and client behavior, our funding

costs and our loan and securities portfolios;

• economic conditions, including inflation and recessionary conditions and their related impacts on economic growth and

customer and client behavior;

• U.S. and global trade policies and tensions, including changes in, or the imposition of, tariffs and/or trade barriers and the

economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability;

• volatility in the financial services sector, including failures or rumors of failures of other depository institutions, along with

actions taken by governmental agencies to address such turmoil, and the effects on the ability of depository institutions,

including us, to attract and retain depositors and to borrow or raise capital;

• legislative or regulatory changes and requirements, including changes in federal state or local tax laws and changes

impacting the rulemaking, supervision, examination and enforcement priorities of the federal banking agencies;

• the sufficiency of liquidity and changes in our capital position;

• general economic and financial market conditions in the United States generally and particularly in the markets in which we

operate and which our loans are concentrated, including the effects of declines in real estate values, an increase in

unemployment levels, U.S. fiscal debt, budget and tax matters, U.S. government shutdowns, and slowdowns in economic

growth;

• the possibility that the anticipated benefits of our acquisition activity, including anticipated cost savings and strategic gains,

are not realized when expected or at all, including as a result of the strength of the economy, competitive factors in the areas

where we do business, or as a result of other unexpected factors or events;

• potential adverse reactions or changes to business or employee relationships;

• our ability to identify, recruit and retain key employees

• monetary, fiscal and regulatory policies of the U.S. government, including policies of the U.S. Department of the Treasury and

the Federal Reserve;

• the quality or composition of our loan or investment portfolios and changes in these portfolios;

• demand for loan products and financial services in our market areas;

• our ability to manage our growth or implement our growth strategy;

• the effectiveness of expense reduction plans;

• the introduction of new lines of business or new products and services;

• real estate values in our lending area;

• changes in accounting principles, standards, rules, and interpretations, and the related impact on our financial statements;

• an insufficient ACL or volatility in the ACL resulting from the CECL methodology, either alone or as that may be affected by

changing economic conditions, credit concentrations, inflation, changing interest rates, or other factors;

• concentrations of loans secured by real estate, particularly commercial real estate;

• the effectiveness of our credit processes and management of our credit risk;

• our ability to compete in the market for financial services and increased competition from fintech companies;

• technological risks and developments, and cyber threats, attacks, or events;

• emerging issues related to the development and use of artificial intelligence that could give rise to legal or regulatory action

or increase the risk of a cybersecurity attack or the probability that such an attack would be successful;

• operational, technological, cultural, regulatory, legal, credit, and other risks associated with the exploration, consummation

and integration of potential future acquisitions, whether involving stock or cash consideration;

• the potential adverse effects of unusual and infrequently occurring events, such as weather-related disasters, terrorist acts,

geopolitical conflicts or public health events (such as pandemics), and of governmental and societal responses thereto;

these potential adverse effects may include, without limitation, adverse effects on macroeconomic conditions, the ability of

our borrowers to satisfy their obligations to us, on the value of collateral securing loans, on the demand for our loans or our

other products and services, on supply chains and methods used to distribute products and services, on incidents of

cyberattack and fraud, on our liquidity or capital positions, on risks posed by reliance on third-party service providers, on

other aspects of our business operations and on financial markets and economic growth;

• performance by our counterparties or vendors;

• deposit flows;

• the availability of financing and the terms thereof;

• the level of prepayments on loans and mortgage-backed securities;

• actual or potential claims, damages, and fines related to litigation or government actions, which may result in, among other

things, additional costs, fines, penalties, restrictions on our business activities, reputational harm, or other adverse

consequences;

• any event or development that would cause us to conclude that there was an impairment of any asset, including intangible

assets, such as goodwill; and

• other factors, many of which are beyond our control.

December 31, 2025, and related disclosures in other filings, which have been filed with the U.S. Securities and Exchange Commission (“SEC”) and are available on the SEC’s website at www.sec.gov. All risk factors and uncertainties described herein and therein

should be considered in evaluating forward-looking statements, and all forward-looking statements are expressly qualified by the cautionary statements contained or referred to herein and therein. The actual results or developments anticipated may not be realized

or, even if substantially realized, they may not have the expected consequences to or effects on the Company or our businesses or operations. Readers are cautioned not to rely too heavily on forward-looking statements. Forward-looking statements speak only as of

the date they are made. We do not intend or assume any obligation to update, revise or clarify any forward-looking statements that may be made from time to time by or on behalf of the Company, whether because of new information, future events or otherwise,

except as required by law.

ADDITIONAL INFORMATION

Non-GAAP Financial Measures

This presentation contains certain financial information determined by methods other than

in accordance with generally accepted accounting principles in the United States (“GAAP”).

These non-GAAP financial measures are a supplement to GAAP, which is used to prepare

our financial statements, and should not be considered in isolation or as a substitute for

comparable measures calculated in accordance with GAAP. In addition, our non-GAAP

financial measures may not be comparable to non-GAAP financial measures of other

companies. We use the non-GAAP financial measures discussed herein in our analysis of

our performance. Our management believes that these non-GAAP financial measures

provide additional understanding of ongoing operations, enhance comparability of results

of operations with prior periods, show the effects of significant gains and charges in the

periods presented without the impact of items or events that may obscure trends in our

underlying performance, or show the potential effects of accumulated other

comprehensive income (or AOCI) or unrealized losses on securities on our capital. This

presentation also includes certain projections of non-GAAP financial measures. Due to the

inherent variability and difficulty associated with making accurate forecasts and

projections of information that is excluded from these projected non-GAAP measures, and

the fact that some of the excluded information is not currently ascertainable or accessible,

we are unable to quantify certain amounts that would be required to be included in the most

directly comparable projected GAAP financial measures without unreasonable effort.

Consequently, no disclosure of projected comparable GAAP measures is included, and no

reconciliation of forward-looking non-GAAP financial information is included.

Please see “Reconciliation of Non-GAAP Disclosures” at the end of this presentation for a

reconciliation to the nearest GAAP financial measure.

No Offer or Solicitation

This presentation does not constitute an offer to sell or a solicitation of an offer to buy any

securities. No offer of securities shall be made except by means of a prospectus meeting

the requirements of the Securities Act of 1933, as amended, and no offer to sell or

solicitation of an offer to buy shall be made in any jurisdiction in which such offer,

solicitation or sale would be unlawful.

Market and Industry Data

Unless otherwise indicated, market data and certain industry forecast data used in this

presentation were obtained from internal reports, where appropriate, as well as third party

sources and other publicly available information. Data regarding the industries and markets

in which the Company competes, its market position and market share within these

industries are inherently imprecise and are subject to significant business, economic and

competitive uncertainties beyond the Company's control. In addition, assumptions and

estimates of the Company and its industries' future performance are necessarily subject to

a high degree of uncertainty and risk due to a variety of factors. These and other factors

could cause future performance to differ materially from assumptions and estimates.

About Atlantic Union Bankshares Corporation

Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB)

is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and

ATMs located in Virginia, Maryland, North Carolina and Washington, D.C. Certain non-bank

financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment

Finance, Inc., which provides equipment financing; AUB Investments, Inc., which provides

investment services; and Atlantic Union Capital Markets, Inc., which provides capital

market services.

HIGHLIGHTS1

branches across

Virginia, North

Carolina and

Maryland footprint

180

Assets under Management

$16.6 Billion

$38.4 Billion

Assets

$29.3 Billion

Loans

$31.0 Billion

Deposits

$5.3 Billion

Market Capitalization

N O R F O L K

V I R G I N I A

B E A C H

M a ry l a n d

V irg in ia

No rth C a ro l in a

C H A R L O T T E

W I L M I N G T O N

B A L T I M O R E

R A L E I G H

G R E E N S B O R O

R O A N O K E

S T A U N T O N

C H A R L O T T E S V I L L E

R I C H M O N D

F R E D E R I C K S B U R G

Current Branch (180) LPO (2)

Planned Additional NC

Branch Expansion (7)

W A S H I N G T O N D . C .

OUR COMPANY

Soundness | Profitability | Growth

Largest Regional Bank Headquartered in the Lower Mid-Atlantic2,3

1. Assets, Loans, Deposits and Assets under Management are as of September 30, 2026.

Market Cap as of October 19, 2026. Branch count is as of November 9, 2026.

2. Based on deposit market share as of June 30, 2026. Regional market: Delaware, Maryland,

New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia

3. Regional banks defined as U.S. Banks with <$100 Billion in assets 4

Dense, uniquely valuable presence

across attractive markets

FINANCIAL

STRENGTH

Solid balance sheet &

capital levels

PEER-LEADING

PERFORMANCE

Committed to top-tier

financial performance

ATTRACTIVE

FINANCIAL

PROFILE

Solid dividend yield

& payout ratio with

earnings upside

STRONG GROWTH

POTENTIAL

Organic & acquisition

opportunities

OUR

SHAREHOLDER

VALUE

PROPOSITION

Positioned for growth and long-term shareholder value creation as a

preeminent regional bank with a leading presence in attractive markets

LEADING

REGIONAL

PRESENCE

AUB Q3 2026

FINANCIAL RESULTS

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measure in "Appendix - Reconciliation of Non-GAAP Disclosures” 7

HIGHLIGHTS

Q3 2026

LOANS

& DEPOSITS

Quarterly average loan growth was approximately

9.6% annualized in Q3 2026 and quarterly loan

growth increased approximately 8.6% annualized

since the end of Q2 2026

Quarterly average deposit growth was approximately

1.5% annualized in Q3 2026 and quarterly deposit

growth increased approximately 6.5% annualized

since the end of Q2 2026

POSITIONING

FOR LONG TERM

Lending pipelines remain healthy and

macroeconomic environment remains resilient

Focused on generating positive operating leverage

DIFFERENTIATED

CLIENT EXPERIENCE

Responsive, strong and capable alternative to large

national banks, while competitive with and more

capable than smaller banks

CAPITALIZE ON

STRATEGIC OPPORTUNITIES

Focused on execution and organic growth opportunities

Organic expansion in North Carolina

FINANCIAL

RATIOS

Q3 2026 adjusted operating return on tangible common

equity of 19.85%1

Q3 2026 adjusted operating return on assets of 1.45%1

Q3 2026 adjusted operating efficiency ratio (FTE) of 48.14%1

Q3 2026 adjusted operating diluted EPS of $0.961

ASSET

QUALITY

Q3 2026 annualized net charge-offs at 3 basis points

of total average loans held for investment

Allowance for Credit Loss as a percentage of loans

held for investment of 1.14%

Nonperforming Assets as a percentage of loans held

for investment of 0.37%

Source: Most recent data available from S&P Global; Bureau of Economic Analysis, Bureau of Labor Statistics 8

OUR MARKETS

# State

Pop.

(Millions)

1 California 39.4

2 Texas 32.0

3 Florida 24.0

4 New York 19.9

5 Pennsylvania 13.1

6 Illinois 12.7

7 Ohio 11.9

8 Georgia 11.3

# State HHI ($)

1 District of Columbia 117,508

2 Massachusetts 109,065

3 New Jersey 108,801

4 Maryland 107,134

5 New Hampshire 106,667

6 California 105,694

7 Washington 105,641

8 Hawaii 105,239

# State

GDP

($Billions)

1 California 4,251

2 Texas 2,904

3 New York 2,468

4 Florida 1,835

5 Illinois 1,202

6 Pennsylvania 1,056

7 Ohio 967

8 Georgia 925

# State

Pop.

(Millions)

9 North Carolina 11.2

10 Michigan 10.2

11 New Jersey 9.6

12 Virginia 8.9

13 Washington 8.0

14 Arizona 7.7

15 Tennessee 7.3

18 Maryland 6.3

# State HHI ($)

9 Utah 103,211

10 Connecticut 102,592

11 Colorado 102,130

12 Virginia 99,769

13 Alaska 96,366

14 Minnesota 95,088

15 Rhode Island 93,626

37 North Carolina 79,045

# State

GDP

($Billions)

9 Washington 895

10 North Carolina 894

11 New Jersey 887

12 Massachusetts 820

13 Virginia 798

14 Michigan 730

15 Arizona 598

18 Maryland 568

MEDIAN HOUSEHOLD INCOME ($)

2026 POPULATION

( M I LLI O N S )

2025 CURRENT DOLLAR GDP

( $ B I LLI O N S )

UNEMPLOYMENT BY STATE

# State August 2026 (%)

1 South Dakota 2.0

2 North Dakota 2.2

3 Vermont 2.6

4 Hawaii 2.7

5 New Hampshire 2.8

6 Nebraska 2.9

7 Wyoming 3.0

8 Georgia 3.2

# State August 2026 (%)

8 Iowa 3.2

8 Maine 3.2

8 Montana 3.2

8 Wisconsin 3.2

18 North Carolina 3.5

21 Virginia 3.6

29 Maryland 4.1

51 District of

Columbia 5.7

National Rate 4.1

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

We have invested the capital,

built the platform, and

assembled the team. Now is the

time to demonstrate the power

of what we have built—

delivering sustainable, top-tier

performance and returns.

Organic growth

Deepening relationships,

growing our company

organically, and leveraging our

scale efficiently.

Capital generation

Shifting from capital

deployment to capital

creation, targeting top tier

returns, earnings growth,

and tangible book value per

share growth.

Disciplined execution

Delivering on the promises

made to our stakeholders.

Q3 2026 Highlights

Reported net income available to common shareholders

decreased 15.4% from the prior quarter driven by:

• A decrease in noninterest income, primarily driven by

a $32.3 million pre-tax gain on the sale of the

Company’s equity interest in Bearing Insurance Group,

LLC (“Bearing Insurance”) recognized in the prior

quarter;

• An increase in noninterest expense, primarily driven

by a $2.7 million pre-tax loss on debt extinguishment;

• Partially offset by a decrease in provision for credit

losses primarily reflecting lower reserve requirements

associated with a modest decline in the allowance

coverage ratio, as well as slower loan growth relative to

the second quarter of 2026;

• A decrease in income tax expense associated with

lower pre-tax income.

Adjusted operating earnings available to common

shareholders1

increased 1.2% from the prior quarter

primarily due to:

• A decrease in provision for credit losses, as described

above;

• Partially offset by a decrease in adjusted noninterest

income1

, primarily due to a $2.0 million decline in loan-related interest rate swap fees, a $1.1 million decrease

in mortgage banking income, and a $1.0 million

decrease in fiduciary and asset management fees.

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures”

Note: all tables presented dollars in thousands, except per share amounts

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%

- Provision for credit losses 5,731 11,737 (6,006) (51.2%)

+ Noninterest income 54,792 90,248 (35,456) (39.3%)

- Noninterest expense 204,333 199,136 5,197 2.6%

- Income tax expense 36,518 43,480 (6,962) (16.0%)

Net income (GAAP) $136,632 $161,013 ($24,381) (15.1%)

- Dividends on preferred stock 2,967 2,967 — 0.0%

Net income available to common shareholders (GAAP) $133,665 $158,046 ($24,381) (15.4%)

+ Loss on debt extinguishment, net of tax 1,977 — 1,977 NM

- Gain on sale of securities, net of tax 8 3 5 166.7%

- Gain on sale of equity interest in Bearing Insurance, net of tax — 24,023 (24,023) (100.0%)

Adjusted operating earnings available to common shareholders (non-GAAP)1

$135,634 $134,020 $1,614 1.2%

NM - Not Meaningful

ADJUSTED OPERATING EARNINGS METRICS - NON-GAAP1

3Q2026 2Q2026

Adjusted operating earnings available to

common shareholders

$135,634 $134,020

Adjusted operating common EPS, diluted $0.96 $0.94

Core net interest margin (FTE) 3.40% 3.46%

Adjusted operating ROA 1.45% 1.47%

Adjusted operating ROTCE 19.85% 20.11%

Adjusted operating efficiency ratio (FTE) 48.14% 47.47%

Adjusted operating PTPP earnings (FTE) $186,218 $188,437

PTPP = Pre-tax Pre-provision

EARNINGS METRICS

3Q2026 2Q2026

Net Income available to common shareholders $133,665 $158,046

Common EPS, diluted $0.94 $1.11

ROE 10.54% 12.60%

ROTCE (non-GAAP)1

19.59% 23.42%

ROA 1.43% 1.73%

Efficiency ratio 53.32% 47.94%

Efficiency ratio (FTE)1

52.68% 47.42%

Net interest income (FTE)1

$333,115 $329,679

Net interest margin 3.82% 3.89%

Net interest margin (FTE)1

3.88% 3.94%

Data as of or for the twelve months ended each respective year, except for 2026 YTD which is as of the nine months ended September 30, 2026

*Annualized

STRONG TRACK RECORD OF PERFORMANCE (GAAP)

$3.26 $2.97 $2.53 $2.24 $2.03

$2.89

2021 2022 2023 2024 2025 2026 YTD

9.68% 9.51% 8.27% 7.04% 6.16%

10.98%

2021 2022 2023 2024 2025 2026 YTD*

61.91% 57.46% 61.32% 62.09% 65.16%

52.61%

2021 2022 2023 2024 2025 2026 YTD*

1.32% 1.18% 0.98% 0.88% 0.80%

1.49%

2021 2022 2023 2024 2025 2026 YTD*

EARNINGS PER SHARE, DILUTED

AVAILABLE TO COMMON SHAREHOLDERS ($) RETURN ON EQUITY (ROE) (%)

RETURN ON ASSETS (ROA) (%) EFFICIENCY RATIO (%)

STRONG TRACK RECORD OF PERFORMANCE (NON-GAAP)

Data as of or for the twelve months ended each respective year, except 2026 YTD which is as of the nine months ended September 30, 2026

* Annualized

(1) Non-GAAP financial measure; See reconciliation to most directly comparable GAAP measure in "Appendix -- Reconciliation of Non-GAAP Disclosures”

ADJUSTED OPERATING EARNINGS PER SHARE

AVAILABLE TO COMMON SHAREHOLDERS, DILUTED ($)(1)

ADJUSTED OPERATING RETURN

ON TANGIBLE COMMON EQUITY (ROTCE) (%)(1)

ADJUSTED OPERATING RETURN ON ASSETS (ROA) (%)(1) ADJUSTED OPERATING EFFICIENCY RATIO (FTE)(%)(1)

$3.53

$2.92 $2.95 $2.88

$3.44

$2.79

2021 2022 2023 2024 2025 2026 YTD

18.07% 17.06% 17.21% 16.85%

20.41% 19.86%

2021 2022 2023 2024 2025 2026 YTD*

54.52% 54.68% 54.15% 53.31%

49.68% 48.47%

2021 2022 2023 2024 2025 2026 YTD*

1.43%

1.16% 1.14% 1.11%

1.33% 1.44%

2021 2022 2023 2024 2025 2026 YTD*

13 Numbers may not foot due to rounding

Q3 2026 ALLOWANCE FOR CREDIT LOSSES (ACL)

AND PROVISION FOR CREDIT LOSSES

Q3 MACROECONOMIC FORECAST

Q3 ACL CONSIDERATIONS

MOODY’S SEPTEMBER 2026 BASELINE

FORECAST:

• US GDP expected to average ~2.2% growth

in 2026 and ~2.0% in 2027.

• The national unemployment rate expected

to average ~4.3% in 2026 and ~4.6% in

2027.

• Utilizes a weighted Moody’s forecast

economic scenarios approach in the

overall estimate.

• The increase in the allowance for credit

losses reflects loan growth and increased

reserves on unfunded commitments

particularly in the Construction and Land

Development portfolio.

• The reasonable and supportable forecast

period is 2 years; followed by reversion to

the historical loss average over 2 years.

ALLOWANCE FOR LOAN

& LEASE LOSSES (ALLL)

RESERVE FOR UNFUNDED

COMMITMENTS (RUC)

ALLOWANCE FOR

CREDIT LOSSES

03/31/2026

Ending Balance % of loans

$291.1 million

(1.04%)

$30.8 million

(0.11%)

$321.9 million

(1.15%)

Q2 2026 Activity +$7.7 million

Increase driven by loan growth.

+$1.4 million

Increase driven by growth in unfunded

commitments.

+$9.1 million

$11.0 million Provision for Credit

Losses and $2.0 million net charge-offs.

06/30/2026

Ending Balance % of loans

$298.8 million

(1.04%)

$32.2 million

(0.11%)

$331.0 million

(1.15%)

Q3 2026 Activity +$2.6 million

Increase driven by loan growth.

+$0.6 million

Increase driven by growth in reserve

for unfunded commitments within

the Construction and Land

Development portfolio.

+$3.3 million

$5.7 million Provision for Credit

Losses and $2.3 million net

charge-offs.

09/30/2026

Ending Balance % of loans

$301.4 million

(1.03%)

$32.8 million

(0.11%)

$334.2 million

(1.14%)

Q2 2026 Reported NIM Earning Assets Mix Deposit Cost Borrowing Cost Funding Mix Q3 2026 Reported NIM

NET INTEREST MARGIN (FTE)1

: DRIVERS OF CHANGE Q2 2026 TO Q3 2026

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures”

Numbers may not foot due to rounding

2. Source Bloomberg

Q3 2026 NET INTEREST MARGIN

MARKET RATES2

Q3 2026 Q2 2026

EOP Avg EOP Avg

Fed funds 4.00% 3.79% 3.75% 3.75%

Prime 7.00% 6.79% 6.75% 6.75%

1-month SOFR 3.91% 3.73% 3.65% 3.64%

2-year Treasury 4.89% 4.36% 4.17% 3.97%

5-year Treasury 5.09% 4.50% 4.23% 4.09%

10- year Treasury 5.28% 4.74% 4.47% 4.41%

MARGIN OVERVIEW

Q3 2026 Q2 2026

Net interest margin (FTE)1 3.88% 3.94%

Loan yield (FTE)1 6.22% 6.23%

Investment yield (FTE)1 4.05% 4.05%

Earning asset yield (FTE)1 5.89% 5.88%

Cost of deposits 2.00% 1.93%

Cost of interest-bearing deposits 2.55% 2.48%

Cost of interest-bearing liabilities 2.68% 2.59%

Cost of funds 2.01% 1.94%

Presented on an FTE basis (non-GAAP)1

Approximately 19% of the total loan portfolio at 9/30/2026

have floors and all are above floors

LOAN PORTFOLIO PRICING MIX

Q3 2026

Fixed 46%

1-month SOFR 42%

Prime 8%

Other 5%

Total 100%

-4 bps

1 bp

3.88%

-2 bps

- 1 bp

3.94%

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” 15

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:

• A $32.3 million pre-tax gain on the sale of

the Company’s equity interest in Bearing

Insurance, recognized within other

operating income in the prior quarter.

Adjusted operating noninterest income1

decreased approximately 5.4% in the third

quarter of 2026 compared to the second

quarter of 2026 primarily due to:

• A $2.0 million decline in loan-related

interest rate swap fees driven by lower

transaction volumes;

• A $1.1 million decrease in mortgage banking

income due to lower mortgage origination

volumes and lower gain on sale margins;

• A $1.0 million decrease in fiduciary and

asset management fees.

($ THOUSANDS) 3Q2026 2Q2026 $ Change % Change

Service charges on deposit accounts $12,886 $12,259 $627 5.1%

Other service charges, commissions and fees 2,266 2,286 (20) (0.9%)

Interchange fees 3,697 3,750 (53) (1.4%)

Fiduciary and asset management fees 20,452 21,460 (1,008) (4.7%)

Mortgage banking income 1,528 2,656 (1,128) (42.5%)

Bank owned life insurance income 5,954 5,734 220 3.8%

Loan-related interest rate swap fees 4,530 6,484 (1,954) (30.1%)

Other operating income 3,479 35,619 (32,140) (90.2%)

Total noninterest income $54,792 $90,248 ($35,456) (39.3%)

Less: Gain on sale of securities 10 4 6 150.0%

Less: Gain on sale of equity interest in Bearing Insurance — 32,350 (32,350) (100.0%)

Adjusted operating noninterest income (non-GAAP)1

$54,782 $57,894 ($3,112) (5.4%)

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures” 16

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

extinguishment.

Adjusted operating noninterest expense1

increased 1.5% in the third quarter of 2026

compared to the second quarter of 2026

primarily due to:

• A $2.6 million seasonal increase in

marketing and advertising expense;

• A $1.7 million increase in salaries and

benefits expense, primarily due to an

increase in variable incentive compensation

expense and additional full-time equivalent

employees associated with the Company’s

North Carolina expansion;

• A $1.5 million increase in technology and

data processing expense, primarily

reflecting ongoing investments in strategic

technology initiatives and related software

maintenance costs;

• Partially offset by a $3.4 million decrease in

other expenses, primarily driven by gains on

sales of other real estate owned during the

third quarter of 2026.

($ THOUSANDS) 3Q2026 2Q2026 $ Change % Change

Salaries and benefits $113,978 $112,309 $1,669 1.5%

Occupancy expenses 13,089 12,862 227 1.8%

Furniture and equipment expenses 5,604 5,532 72 1.3%

Technology and data processing 17,492 16,016 1,476 9.2%

Professional services 6,193 6,154 39 0.6%

Marketing and advertising expense 8,040 5,479 2,561 46.7%

FDIC assessment premiums and other insurance 6,759 6,633 126 1.9%

Franchise and other taxes 4,767 4,675 92 2.0%

Loan-related expenses 2,544 2,723 (179) (6.6%)

Amortization of intangible assets 14,946 15,136 (190) (1.3%)

Other expenses 10,921 11,617 (696) (6.0%)

Total noninterest expense $204,333 $199,136 $5,197 2.6%

Less: Amortization of intangible assets 14,946 15,136 (190) (1.3%)

Less: Loss on debt extinguishment 2,654 — 2,654 NM

Adjusted operating noninterest expense (non-GAAP)1

$186,733 $184,000 $2,733 1.5%

NM - Not Meaningful

Q3 2026 LOANS AND DEPOSITS

• At September 30, 2026, LHFI totaled $29.3 billion,

an increase of $623.3 million from the prior quarter

primarily due to increases in commercial and

industrial, other commercial, and construction and

land development loan portfolios.

• Average loan yields (FTE)2 decreased 1 basis

point to 6.22%.

• At September 30, 2026, total deposits were $31.0

billion, an increase of $497.3 million from the prior

quarter due to increases in brokered and demand

deposits, partially offset by a decrease in interest-bearing customer deposits.

• Noninterest-bearing demand deposits

accounted for 22% of total deposit balances

at the end of the third quarter of 2026, in line

with the prior quarter.

• The average cost of deposits increased by 7

basis points compared to the prior quarter,

resulting from increased costs on customer

interest-bearing deposits and higher

brokered deposit costs.

• At September 30, 2026, the loan to deposit ratio

was 94.6%, up from 94.1% in the prior quarter.

(1) Auto portfolio is in run-off mode.

(2) For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures”

LOANS

($ THOUSANDS) 3Q2026 2Q2026 QTD ANNUALIZED % CHANGE

Commercial real estate - non-owner occupied $ 7,275,895 $ 7,303,555 (1.5%)

Commercial real estate - owner occupied 4,356,099 4,308,292 4.4%

Construction and land development 2,025,385 1,859,217 35.5%

Multifamily real estate 2,382,541 2,429,355 (7.6%)

Residential 1-4 Family - Commercial 984,149 1,008,438 (9.6%)

Total Commercial Real Estate (CRE) 17,024,069 16,908,857 2.7%

Commercial & Industrial 5,850,846 5,628,880 15.6%

Other Commercial 1,865,561 1,649,952 51.8%

Total Commercial & Industrial 7,716,407 7,278,832 23.9%

Total Commercial Loans $ 24,740,476 $ 24,187,689 9.1%

Residential 1-4 Family - Consumer 2,991,674 2,930,665 8.3%

Residential 1-4 Family - Revolving 1,346,890 1,312,531 10.4%

Auto(1) 110,418 131,477 (63.5%)

Consumer 107,158 110,909 (13.4%)

Total Consumer Loans $ 4,556,140 $ 4,485,582 6.2%

Total Loans Held for Investment (LHFI) (net of unearned income) $ 29,296,616 $ 28,673,271 8.6%

Average Loan Yield (FTE) 6.22% 6.23%

DEPOSITS

($ THOUSANDS) 3Q2026 2Q2026 QTD ANNUALIZED % CHANGE

Interest checking accounts $ 7,844,500 $ 7,812,504 1.6%

Money market accounts 6,556,864 6,821,997 (15.4%)

Savings accounts 2,723,123 2,567,073 24.1%

Customer time deposits of more than $250,000 1,869,330 1,876,425 (1.5%)

Customer time deposits of $250,000 or less 4,124,050 4,104,769 1.9%

Time deposits 5,993,380 5,981,194 0.8%

Total interest-bearing customer deposits 23,117,867 23,182,768 (1.1%)

Brokered deposits 1,085,988 557,751 375.7%

Total interest-bearing deposits 24,203,855 23,740,519 7.7%

Demand deposits 6,761,674 6,727,738 2.0%

Total Deposits $ 30,965,529 $ 30,468,257 6.5%

Average Cost of Deposits 2.00% 1.93%

Loan to Deposit Ratio 94.6% 94.1%

CAPITAL RATIO

REGULATORY

WELL

CAPITALIZED

MINIMUMS

REPORTED PRO FORMA INCLUDING AOCI

& HTM UNREALIZED LOSSES

ATLANTIC

UNION

BANKSHARES

ATLANTIC

UNION BANK

ATLANTIC

UNION

BANKSHARES

ATLANTIC

UNION BANK

Common Equity Tier 1 Ratio (CET1) 6.5% 10.4% 13.4% 8.9% 11.8%

Tier 1 Capital Ratio 8.0% 10.9% 13.4% 9.4% 11.8%

Total Risk Based Capital Ratio 10.0% 14.6% 14.3% 13.0% 12.8%

Leverage Ratio 5.0% 9.6% 11.7% 8.3% 10.4%

Tangible Equity to Tangible Assets (non-GAAP)1

- 8.3% 10.5% 8.1% 10.2%

Tangible Common Equity Ratio(non-GAAP) 1

- 7.9% 10.5% 7.6% 10.2%

As of 9/30/2026 As of 9/30/2025 % Change

Tangible Book Value per share (non-GAAP) 1 Ex. AOCI $23.22 $20.98 10.7%

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in “Appendix – Reconciliation of Non-GAAP Disclosures”

• Capital information presented herein is based on estimates and subject to change pending the Company’s filing of its regulatory reports

• Figures may not foot due to rounding

STRONG CAPITAL POSITION CAPITAL MANAGEMENT STRATEGY

ATLANTIC UNION CAPITAL MANAGEMENT

OBJECTIVES ARE TO:

• Maintain designation as a “well capitalized”

institution.

• Ensure capital levels are commensurate with

the Company’s risk profile, capital stress test

projections, and strategic plan objectives.

THE COMPANY’S CAPITAL RATIOS ARE WELL

ABOVE REGULATORY WELL CAPITALIZED LEVELS

AS OF SEPTEMBER 30, 2026

• On a pro forma standalone basis, the Company

and the Bank would be well capitalized if

unrealized losses on securities were realized at

September 30, 2026.

CAPITAL MANAGEMENT ACTIONS

During the third quarter of 2026, the Company:

• Paid a common stock dividend of 37 cents per

share, which was the same as the second quarter

of 2026, and an increase of 8.8% from the third

quarter of 2025 dividend amount.

• Paid dividends of $171.88 per outstanding share

of Series A Preferred Stock

• Repurchased $62.5 million of common stock at

an average price of $41.38

At September 30, 2026

QUARTERLY ROLL FORWARD COMMON EQUITY

TIER 1 RATIO

TANGIBLE COMMON

EQUITY RATIO

TANGIBLE BOOK VALUE

PER SHARE

6/30/26 10.41% 8.17% $20.77

Pre-Provision Net Income 0.45% 0.39% 0.99

One-Time impacts (0.01%) (0.01%) (0.01)

After Tax Provision (0.01%) (0.01%) (0.03)

Common Dividend (0.17%) (0.15%) (0.37)

Common Share Repurchases (0.20%) (0.17%) (0.23)

AOCI 0.00% (0.35%) (0.89)

Goodwill & Intangibles 0.04% 0.04% 0.11

Deferred Taxes and Other 0.04% 0.01% 0.03

Asset Growth (0.16%) (0.06%) 0.00

9/30/26 10.39% 7.87% $20.36

AOCI Total Impact --- 1.11% 2.87

9/30/26 ex. AOCI 10.39% 8.98% $23.22

2026 FINANCIAL OUTLOOK

1. Information on this slide is presented as of October 20, 2026, reflects the Company’s updated financial outlook, certain of the Company’s financial targets, and key economic and other assumptions, and will not be updated or affirmed unless and

until the Company publicly announces such an update or affirmation. The 2026 financial outlook, the Company’s financial targets and the key economic assumptions contain forward-looking statements. These statements are based on current

beliefs and expectations of our management and are subject to significant risks and uncertainties, including, but not limited to, volatility and uncertainty in the macro economic environment, changes in federal and state governmental policies, the

imposition or expansion of tariffs, sustained inflationary pressures, macroeconomic conditions, and geopolitical instability. As a result, actual results or conditions may differ materially. See the information set forth below the heading “Forward-Looking Statements” on slide 2 of this presentation.

2. Refer to “Additional Information” slide and Appendix for non-GAAP disclosures.

FULL YEAR 2026 OUTLOOK 1 FULL YEAR 2026 COMMENTARY1

Loans (end of period) $29.0 – 30.0 billion Low End of High Single Digits Year over Year

Growth

Deposits (end of period) $31.0 – 32.0 billion Low Single Digits Year over Year Growth

Credit Outlook

ACL to loans: ~115 – 120 bps

Net charge-off ratio: <5 bps

Low end of ACL Range

NCO reduced from a range of 5 to 10 bps

Net Interest Income (FTE)2 ~$1.32 - $1.33 billion Low end of Range

Net Interest Margin (FTE)2 ~3.90% - 3.95% Low end of Range

Adjusted Operating Noninterest

Income2

~$220 - $230MM Low end of Range

Adjusted Operating Noninterest

Expense2

(excludes amortization of intangible assets)

~$742- $752MM Low end of Range

Amortization of intangible assets ~$60MM

• The Federal Reserve Bank raises the fed

funds rate 25 basis points in December

2026 and term rates remain stable

• Assumes moderate GDP growth and a

stable economy in AUB’s branch footprint

• Expect Virginia, Maryland, and North

Carolina unemployment rate to rise

but remain at or below the national

unemployment rate in 2026

• Assumes continued repurchases of

common stock in Q4 2026

• AOCI volatility clouding TBV outlook

KEY ASSUMPTIONS1

Q3 2026

APPENDIX

AUB DIVERSIFIED AND GRANULAR LOAN PORTFOLIO

Figures may not total to 100% due to rounding

Duration and Weighted Average Yield Data is as of or for the three months ended September 30, 2026

Commercial defined as C&I plus owner-occupied commercial real estate and other commercial

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in "Appendix - Reconciliation of Non-GAAP Disclosures"

Duration

Q2 2025 Weighted Average Yield (Tax Equivalent)

C&D 6.9%

Owner Occupied

CRE

14.9%

C&I

20.0%

Other Commercial

Commercial 1-4 Family 6.4%

3.4%

Non-Owner

Occupied CRE

24.8%

Multifamily RE

8.1%

Consumer 1-4 Family

10.2%

Revolving 1-4 Family

4.6%

Auto

0.4%

Consumer

0.4%

TOTAL LOAN PORTFOLIO $29.3 BILLION

At September 30, 2026

LOAN PORTFOLIO CHARACTERISTICS

1.3 years

Duration

41%

Commercial

6.22%

Q3 2026 Weighted Average Yield (Tax Equivalent)1

Total Non-Owner Occupied

CRE 24.8%

Owner Occupied CRE 14.9%

Construction and Land

Development 6.9%

Multifamily Real Estate 8.1%

Residential 1-4 Family -

Commercial 3.4%

Other Commercial

(Farmland) 0.1%

All Other Loans 41.8%

AUB CRE PORTFOLIO

At September 30, 2026

CRE BY CLASS

$ I N M I LLI O N S

Total

Outstandings

% of

Total Portfolio

Hotel/Motel B&B $1,232 4.2%

Industrial/Warehouse $1,271 4.3%

Office $1,461 5.0%

Retail $1,943 6.6%

Self Storage $681 2.3%

Senior Living $120 0.4%

Other $567 1.9%

Total Non-Owner Occupied CRE $7,276 24.8%

Owner Occupied CRE $4,356 14.9%

Construction and Land Development $2,025 6.9%

Multifamily Real Estate $2,383 8.1%

Residential 1-4 Family - Commercial $984 3.4%

Other Commercial (Farmland) $40 0.1%

Total CRE $17,064 58.2%

$29.3B

Total Loans

267%

CRE Concentration

Ratio1

1. CRE concentration as a percentage of total capital; Loan balances used are as defined in the Call Report instructions.

Figures may not foot due to rounding.

At September 30, 2026

1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Office Portfolio

Figures may not foot due to rounding.

NON-OWNER OCCUPIED OFFICE CRE PORTFOLIO

NON-OWNER OCCUPIED OFFICE

GEOGRAPHICALLY DIVERSE NON PORTFOLIO CREDIT QUALITY -OWNER OCCUPIED OFFICE PORTFOLIO

* DC, Montgomery County, Prince George’s County, Fairfax County, Fairfax City, Falls

Church City, Arlington County, Alexandria City

( $ M I LLI O N S )

Carolinas $329

Western VA $155

Fredericksburg Area $161

Central VA $99

Coastal VA/NC $47

Baltimore $124

DC Metro $443

Other Maryland $49

Eastern VA $15

Other $40

Total $1,461

BY MARKET DC METRO SUBMARKET* KEY PORTFOLIO METRICS

Avg. Office Loan ($ thousands) $2,217

Median Office Loan ($ thousands) $736

Loan Loss Reserve / Office Loans 1.54%

NCOs / Office Loans1 -0.01%

Delinquencies / Office Loans 0.36%

NPL / Office Loans 0.26%

Criticized Loans / Office Loans 8.84%

District of Columbia $61

Suburban Maryland $177

Suburban Virginia $205

Total $443

MULTIFAMILY CRE PORTFOLIO

1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Multifamily Portfolio

Figures may not foot due to rounding.

Carolinas $741

Western VA $245

Fredericksburg Area $85

Central VA $321

Coastal VA/NC $219

Baltimore $135

DC Metro $358

Other Maryland $12

Eastern VA $38

Other $227

Total $2,383

At September 30, 2026

* DC, Montgomery County, Prince George’s County, Fairfax County, Fairfax City, Falls

Church City, Arlington County, Alexandria City

BY MARKET

MULTIFAMILY PORTFOLIO CREDIT

GEOGRAPHICALLY DIVERSE MULTIFAMILY PORTFOLIO QUALITY

DC METRO SUBMARKET* KEY PORTFOLIO METRICS

( $ M I LLI O N S )

Avg. Multifamily Loan ($ thousands) $3,788

Median Multifamily Loan ($ thousands) $902

Loan Loss Reserve / Multifamily Loans 1.21%

NCOs / Multifamily Loans1 0.00%

Delinquencies / Multifamily Loans 1.02%

NPL / Multifamily Loans 0.86%

Criticized Loans / Multifamily Loans 12.14%

District of Columbia $242

Suburban Maryland $108

Suburban Virginia $8

Total $358

OVERVIEW OF GOVERNMENT-RELATED LOAN

PORTFOLIO EXPOSURES

$710.4 million 1.09% $3.5 million

Total Amount of Loans Loan Loss Reserve/

Gov Con Loans

Avg. Loan Size

0.00% -0.04% 10.86%

Non-Performing Loans Net Charge-Offs1 Criticized Loans/

Gov Con Loans

1. Trailing 4 Quarters Avg NCO/Trailing 4 Quarter Avg Government Contracting Portfolio

• Government Contracting team has

managed through government

shutdowns and sequestrations in the

past.

• Focus on national security agency and

defense industry contractors.

• Active monitoring of all published

notices of contract terminations or

stop work orders.

KEY METRICS OF GOVERNMENT CONTRACTING PORTFOLIO

As of September 30, 2026

• Comprised primarily of facilities that help fund private equity

group lending to businesses

• The Company’s exposure consists of granular downstream

credits held as collateral with each facility controlled with

specific conservative advance rates and concentration

percentages

• The Company has had no NDFI charge-offs or past due loans in

the preceding four quarters

• All NDFI loans are included in the Other Commercial (Other) loan

class

1 As of September 30, 2026, there were no outstanding balances related to loans to consumer credit intermediaries

AUB NON-DEPOSITORY FINANCIAL INSTITUTION

(“NDFI”)/PRIVATE CREDIT PORTFOLIO

At September 30, 2026

NDFI/PRIVATE CREDIT PORTFOLIO PORTFOLIO CHARACTERISTICS

$ I N M I LLI O N S

Loans to mortgage credit intermediaries

Institutional CRE, Residential Mortgage Warehouse,

Mortgage Servicing Rights ("MSR")

Loans to business credit intermediaries

Wholesale Lender Finance, Business Development

Companies

Other loans to non-depository financial

institutions

All Other (e.g. insurance, broker/dealer)

Loans to consumer credit intermediaries1

Consumer Lender Finance

N D F I / P R I V A T E C R E D I T LO A N T Y P E S

Total of $251.2

NDFI Loan Loss Reserve / Total NDFI Loans 0.82%

NDFI Loans/ Total Loans 0.86%

Average NDFI Loan Size $2.2 million

KEY PORTFOLIO METRICS

$23.6

$150.2

$77.4

ATTRACTIVE CORE DEPOSIT BASE

Cost of deposit data is as of and for the three months ended September 30, 2026, figures may not foot due to rounding

1. Core deposits defined as total deposits less jumbo time deposits and brokered deposits

Non-Interest Bearing

22%

Interest Checking

25%

Money Market

21%

Retail Time

13%

Jumbo Time

Brokered

Savings

DEPOSIT BASE CHARACTERISTICS DEPOSIT COMPOSITION AT SEPTEMBER 30, 2026 — $31.0 BILLION

90%

core deposits1

47%

transactional accounts

2.00%

Q3 2026 cost of deposits

GRANULAR DEPOSIT BASE

CUSTOMER DEPOSIT GRANULARITY

PERIOD END UNINSURED & UNCOLLATERALIZED DEPOSITS

AS A PERCENTAGE OF TOTAL DEPOSITS

( $ M I LLI O N S )

32% 31% 32% 33% 32%

$9,802 $9,551 $9,608

$9,915 $9,785

Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026

$22,000 $22,000 $21,000

$104,000

$120,000 $117,000

$2,100 $2,500 $2,400

$7,500

$8,100 $7,900

Q3 2025 Q2 2026 Q3 2026

Retail Avg. Deposits Acct Size Business Avg. Deposits Acct Size

Retail Accounts - Median Business Accounts - Median

Cash and Cash

Equivalents

(unrestricted)

$681

Unencumbered

Securities

$2,024

FHLB Borrowing

Capacity

$4,899

Fed Funds Lines

$1,388

Discount Window

$1,212

Secondary Sources*

$2,036

AUB LIQUIDITY POSITION

* Includes brokered deposits and other sources of liquidity

Figures may not foot due to rounding

Liquidity

Sources

Total

$12.2

billion

At September 30, 2026

TOTAL LIQUIDITY SOURCES OF

$12.2 BILLION

~124% Liquidity Coverage Ratio of

Uninsured/Uncollateralized Deposits of $9.8 billion

($ MILLIONS)

SECURITIES PORTFOLIO

• Total securities portfolio of $4.6 billion with a

total net unrealized losses of $558.1 million

– 83% of total portfolio book value in

available-for-sale (“AFS”) with net

unrealized losses of $475.0 million

– 17% of total portfolio book value

designated as held-to-maturity with net

unrealized losses of $83.1 million

– 13% floating rate versus 87% fixed rate

• Total effective duration of approximately 4.5

years. Securities portfolio is used defensively

to neutralize overall asset sensitive interest

rate risk profile

• ~27% municipals, ~72% agency MBS/CMOs,

Treasuries and ~1% corporates and other

investments

• Securities to total assets of 12.0% as of

September 30, 2026, down from 12.4% as of

June 30, 2026

$5,151

$4,738

$4,594

3Q 2025 2Q 2026 3Q 2026

4.10% Yield

4.05% Yield

INVESTMENT SECURITIES BALANCES

Total AFS (fair value) and HTM (carrying value)

At September 30, 2026

( $ M I L L I O N S )

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 or as a substitute for comparable

measures calculated in accordance with GAAP. In addition, our non-GAAP financial measures may not be comparable to non-GAAP financial measures of

other companies. We use the non-GAAP financial measures discussed herein in our analysis of our performance. Management believes that these non-GAAP financial measures provide additional understanding of ongoing operations, enhance the comparability of our results of operations with prior periods

and show the effects of significant gains and charges in the periods presented without the impact of items or events that may obscure trends in our

underlying performance or show the potential effects of accumulated other comprehensive income or unrealized losses on held to maturity securities on

our capital.

Due to the impact of completing the Sandy Spring acquisition in the second quarter of 2025 and the acquisition of American National Bankshares in the

second quarter of 2024, we updated our non-GAAP operating measures beginning in the second quarter of 2025 to exclude the CECL Day 1 non-PCD loans

and RUC provision expense. The CECL Day 1 non-PCD loans and RUC provision expense is comprised of the initial provision expense on non-PCD loans,

which represents the CECL “double count” of the non-PCD credit mark, and the additional provision for unfunded commitments. The Company does not

view the CECL Day 1 non-PCD loans and RUC provision expense as organic costs to run the Company’s business and believes this updated presentation

provides investors with additional information to assist in period-to-period and company-to-company comparisons of operating performance, which will

aid investors in analyzing the Company’s performance. Prior period non-GAAP operating measures presented in this presentation have been recast to

conform to this updated presentation.

RECONCILIATION OF NON-GAAP DISCLOSURES

Adjusted operating measures exclude or include,

as applicable, loss on debt extinguishment, gain

on sale of equity interest in Bearing Insurance,

and gain on sale of securities. The Company

believes these non-GAAP adjusted measures

provide investors with important information

about the continuing economic results of the

Company’s operations. The Company believes

net interest income (FTE), total revenue (FTE),

and total adjusted revenue (FTE), which are used

in computing net interest margin (FTE), efficiency

ratio (FTE) and adjusted operating efficiency ratio

(FTE), provide valuable additional insight into the

net interest margin and the efficiency ratio by

adjusting for differences in tax treatment of

interest income sources. The entire FTE

adjustment is attributable to interest income on

earning assets, which is used in computing the

yield on earning assets. Interest expense and the

related cost of interest-bearing liabilities and

cost of funds ratios are not affected by the FTE

components. The adjusted operating efficiency

ratio (FTE) excludes, as applicable, the loss on

debt extinguishment, amortization of intangible

assets, gain on sale of securities, and gain on

sale of equity interest in Bearing Insurance. This

measure is similar to the measure used by the

Company when analyzing corporate

performance and is also similar to the measure

used for incentive compensation. The Company

believes this adjusted measure provides

investors with important information about the

continuing economic results of the Company’s

operations.

ADJUSTED OPERATING EARNINGS AND EFFICIENCY RATIO

(Dollars in thousands, except per share amounts)

For the three months ended

September 30, 2026 June 30, 2026

Operating Measures

Net Income (GAAP) $ 136,632 $ 161,013

Plus: Loss on debt extinguishment, net of tax 1,977 —

Less: Gain on sale of equity interest in Bearing Insurance, net of tax — 24,023

Less: Gain on sale of securities, net of tax 8 3

Adjusted operating earnings (non-GAAP) $ 138,601 $ 136,987

Less: Dividends on preferred stock 2,967 2,967

Adjusted operating earnings available to common shareholders (non-GAAP) $ 135,634 $ 134,020

Weighted average common shares outstanding, diluted 141,641,618 142,320,806

EPS available to common shareholders, diluted (GAAP) $ 0.94 $ 1.11

Adjusted operating EPS available to common shareholders (non-GAAP) $ 0.96 $ 0.94

Operating Efficiency Ratio

Noninterest expense (GAAP) $ 204,333 $ 199,136

Less: Loss on debt extinguishment 2,654 —

Less: Amortization of intangible assets 14,946 15,136

Adjusted operating noninterest expense (non-GAAP) $ 186,733 $ 184,000

Noninterest income (GAAP) $ 54,792 $ 90,248

Less: Gain on sale of securities 10 4

Less: Gain on sale of equity interest in Bearing Insurance — 32,350

Adjusted operating noninterest income (non-GAAP) $ 54,782 $ 57,894

Net interest income (GAAP) $ 328,422 $ 325,118

Noninterest income (GAAP) 54,792 90,248

Total revenue (GAAP) $ 383,214 $ 415,366

Net interest income (FTE) (non-GAAP) $ 333,115 $ 329,679

Adjusted operating noninterest income (non-GAAP) 54,782 57,894

Total adjusted revenue (FTE) (non-GAAP) $ 387,897 $ 387,573

Efficiency ratio (GAAP) 53.32% 47.94%

Efficiency ratio FTE (non-GAAP) 52.68% 47.42%

Adjusted operating efficiency ratio (FTE) (non-GAAP) 48.14% 47.47%

RECONCILIATION OF NON-GAAP DISCLOSURES

Adjusted operating measures exclude or

include, as applicable, merger-related costs,

FDIC special assessments, legal reserves

associated with our previously disclosed

settlement with the Consumer Financial

Protection Bureau (“CFPB”), strategic cost

savings initiatives (principally composed of

severance charges related to headcount

reductions, costs related to modifying

certain third party vendor contracts, and

charges for exiting certain leases), strategic

branch closing and related facility

consolidation costs (principally composed of

real estate, leases and other asset write

downs, as well as severance and expense

reduction initiatives), the net loss related to

balance sheet repositioning (principally

composed of gains and losses on debt

extinguishment, and charges for exiting

certain leases), deferred tax asset write-down, CECL Day 1 non-Purchased Credit

Deteriorated (“PCD”) loans and RUC

provision expense, loss on debt

extinguishment, gain (loss) on sale of

securities, gain on sale-leaseback

transaction, gain on CRE loan sale, gain on

sale of Dixon, Hubard, Feinour & Brown, Inc.

(“DHFB”), gain on sale of equity interest in

Cary Street Partners (“CSP”), gain on sale of

equity interest in Bearing Insurance, and gain

on the sale of Visa, Inc. Class B common

stock. The Company believes these non-GAAP adjusted measures provide investors

with important information about the

continuing economic results of the

Company’s operations.

ADJUSTED OPERATING EARNINGS & FINANCIAL METRICS

For the nine months ended For the years ended

(Dollars in thousands, except outstanding share and per share

amounts) September 30, 2026 2025 2024 2023 2022 2021

Operating Measures

Net Income (GAAP) $ 419,811 $ 273,715 $ 209,131 $ 201,818 $ 234,510 $ 263,917

Plus: Merger-related costs, net of tax 6,956 124,590 33,476 2,850 — —

Plus: FDIC special assessment, net of tax — — 664 2,656 — —

Plus: Legal reserve, net of tax — — — 6,809 — —

Plus: Strategic cost saving initiatives, net of tax — — — 9,959 — —

Plus: Strategic branch closing and facility consolidation costs,

net of tax — — — — 4,351 13,775

Plus: Net loss related to balance sheet repositioning, net of

tax

— — — — — 11,609

Plus: Deferred tax asset write-down — — 4,774 — — —

Plus: CECL Day 1 non-PCD loans and RUC provision expense,

net of tax — 77,742 11,520 — — —

Plus: Loss on debt extinguishment, net of tax 1,977 — — — — —

Less: Gain (loss) on sale of securities, net of tax 12 (62) (5,129) (32,381) (2) 69

Less: Gain on sale-leaseback transaction, net of tax — — — 23,367 — —

Less: Gain on CRE loan sale, net of tax — 8,405 — — — —

Less: Gain on sale of DHFB, net of tax — — — — 7,984 —

Less: Gain on sale of equity interest in CSP, net of tax — 10,994 — — — —

Less: Gain on sale of equity interest in Bearing Insurance, net

of tax 24,023 — — — — —

Less: Gain on Visa, Inc. Class B common stock, net of tax — — — — — 4,058

Adjusted operating earnings (non-GAAP) $ 404,709 $ 456,710 $ 264,694 $ 233,106 $ 230,879 $ 285,174

Less: Dividends on preferred stock 8,901 11,868 11,868 11,868 11,868 11,868

Adjusted operating earnings available to common shareholders

(non-GAAP) $ 395,808 $ 444,842 $ 252,826 $ 221,238 $ 219,011 $ 273,306

Earnings per share (EPS)

Weighted average common shares outstanding, diluted 142,078,792 129,161,421 87,909,237 74,962,363 74,953,398 77,417,801

EPS available to common shareholders, diluted (GAAP) $ 2.89 $ 2.03 $ 2.24 $ 2.53 $ 2.97 $ 3.26

Adjusted operating EPS available to common shareholders,

diluted (non-GAAP) $ 2.79 $ 3.44 $ 2.88 $ 2.95 $ 2.92 $ 3.53

RECONCILIATION OF NON-GAAP DISCLOSURES

The Company believes net interest income (FTE),

total revenue (FTE), and total adjusted revenue

(FTE), which are used in computing net interest

margin (FTE) and adjusted operating efficiency

ratio (FTE), provide valuable additional insight into

the net interest margin and the efficiency ratio by

adjusting for differences in tax treatment of

interest income sources. The entire FTE

adjustment is attributable to interest income on

earning assets, which is used in computing the

yield on earning assets. Interest expense and the

related cost of interest-bearing liabilities and cost

of funds ratios are not affected by the FTE

components. The adjusted operating efficiency

ratio (FTE) excludes, as applicable, the

amortization of intangible assets, loss on debt

extinguishment, losses related to balance sheet

repositioning (principally composed of gains and

losses on debt extinguishment), merger-related

costs, FDIC special assessments, strategic cost

savings initiatives (principally composed of

severance charges related to headcount

reductions, costs related to modifying certain third

party vendor contracts, and charges for exiting

certain leases), legal reserves associated with our

previously disclosed settlement with the CFPB,

strategic branch closing and facility consolidation

costs (principally composed of real estate, leases

and other asset write downs, as well as severance

and expense reduction initiatives), gain (loss) on

sale of securities, gain on sale-leaseback

transaction, gain on sale of DHFB, gain on CRE

loan sale, gain on sale of equity interest in CSP,

gain on sale of equity interest in Bearing Insurance,

and gain on sale of Visa, Inc. Class B common

stock. This measure is similar to the measure used

by the Company when analyzing corporate

performance and is also similar to the measure

used for incentive compensation. The Company

believes this adjusted measure provides investors

with important information about the continuing

economic results of the Company’s operations.

ADJUSTED OPERATING EARNINGS & EFFICIENCY RATIO

For the nine months ended For the years ended

(Dollars in thousands) September 30, 2026 2025 2024 2023 2022 2021

Operating Efficiency Ratio

Noninterest expense (GAAP) $ 613,279 $ 895,570 $ 507,534 $ 430,371 $ 403,802 $ 419,195

Less: Amortization of intangible assets 45,528 59,668 19,307 8,781 10,815 13,904

Less: Loss on debt extinguishment 2,654 — — — — —

Less: Losses related to balance sheet repositioning — — — — — 14,695

Less: Merger-related costs 9,034 157,278 40,018 2,995 — —

Less: FDIC special assessment — — 840 3,362 — —

Less: Strategic cost saving initiatives — — — 12,607 — —

Less: Legal reserve — — — 8,300 — —

Less: Strategic branch closing and facility consolidation costs — — — — 5,508 17,437

Adjusted operating noninterest expense (non-GAAP) $ 556,063 $ 678,624 $ 447,369 $ 394,326 $ 387,479 $ 373,159

Noninterest income (GAAP) $ 199,823 $ 219,436 $ 118,878 $ 90,877 $ 118,523 $ 125,806

Less: Gain (loss) on sale of securities 16 (81) (6,493) (40,989) (3) 87

Less: Gain on sale-leaseback transaction — — — 29,579 — —

Less: Gain on sale of DHFB — — — — 9,082 —

Less: Gain on CRE loan sale — 10,915 — — — —

Less: Gain on sale of equity interest in CSP — 14,757 — — — —

Less: Gain on sale of equity interest in Bearing Insurance 32,350 — — — — —

Less: Gain on Visa, Inc. Class B common stock — — — — — 5,137

Adjusted operating noninterest income (non-GAAP) $ 167,457 $ 193,845 $ 125,371 $ 102,287 $ 109,444 $ 120,582

Net interest income (GAAP) $ 965,913 $ 1,154,913 $ 698,539 $ 611,013 $ 584,261 $ 551,260

Noninterest income (GAAP) 199,823 219,436 118,878 90,877 118,523 125,806

Total revenue (GAAP) $ 1,165,736 $ 1,374,349 $ 817,417 $ 701,890 $ 702,784 $ 677,066

Net interest income (FTE) (non-GAAP) $ 979,719 $ 1,172,074 $ 713,765 $ 625,923 $ 599,134 $ 563,851

Adjusted operating noninterest income (non-GAAP) 167,457 193,845 125,371 102,287 109,444 120,582

Total adjusted revenue (FTE) (non-GAAP) $ 1,147,176 $ 1,365,919 $ 839,136 $ 728,210 $ 708,578 $ 684,433

Efficiency ratio (GAAP) 52.61% 65.16% 62.09% 61.32% 57.46% 61.91%

Adjusted operating efficiency ratio (FTE) (non-GAAP) 48.47% 49.68% 53.31% 54.15% 54.68% 54.52%

RECONCILIATION OF NON-GAAP DISCLOSURES

The Company believes net interest

income (FTE), interest income (FTE),

investment income (FTE), total

revenue (FTE), earning asset income

(FTE), total adjusted revenue (FTE),

which are used in computing net

interest margin (FTE), core net

interest margin (FTE), loan yield

(FTE), investment yield (FTE), earning

asset yield (FTE), efficiency ratio

(FTE) and adjusted operating

efficiency ratio (FTE), provide

valuable additional insight into the

net interest margin, loan yield,

investment yield, earning asset yield,

and the efficiency ratio by adjusting

for differences in tax treatment of

interest income sources. The entire

FTE adjustment is attributable to

interest income on earning assets,

which is used in computing the yield

on earning assets. Interest expense

and the related cost of interest-bearing liabilities and cost of funds

ratios are not affected by the FTE

components.

NET INTEREST MARGIN, LOAN YIELD, INVESTMENT YIELD AND EARNING ASSET YIELD

(Dollars in thousands)

For the three months ended

September 30, 2026 June 30, 2026

Net interest income (GAAP) $ 328,422 $ 325,118

FTE adjustment 4,693 4,561

Net interest income (FTE) (non-GAAP) $ 333,115 $ 329,679

Noninterest income (GAAP) 54,792 90,248

Total revenue (FTE) (non-GAAP) $ 387,907 $ 419,927

Net interest income (FTE) (non-GAAP) $ 333,115 $ 329,679

Purchase accounting adjustments 40,865 39,939

Core net interest income (FTE) (non-GAAP) $ 292,250 $ 289,740

Average earning assets $ 34,091,046 $ 33,544,840

Net interest margin (GAAP) 3.82% 3.89%

Net interest margin (FTE) (non-GAAP) 3.88% 3.94%

Core net interest margin (FTE) (non-GAAP) 3.40% 3.46%

Loan interest income (GAAP) $ 451,275 $ 436,309

FTE adjustment 2,336 2,199

Loan interest income (FTE) (non-GAAP) $ 453,611 $ 438,508

Average LHFI $ 28,927,866 $ 28,243,611

Loan yield (GAAP) 6.19% 6.20%

Loan yield (FTE) (non-GAAP) 6.22% 6.23%

Investment interest income (GAAP) $ 47,658 $ 47,856

FTE adjustment 2,357 2,362

Investment interest income (FTE) (non-GAAP) $ 50,015 $ 50,218

Average securities $ 4,895,169 $ 4,976,527

Investment yield (GAAP) 3.86% 3.86%

Investment yield (FTE) (non-GAAP) 4.05% 4.05%

Total earning assets interest income (GAAP) $ 501,133 $ 486,828

FTE adjustment 4,693 4,561

Total earning assets interest income (FTE) (non-GAAP) $ 505,826 $ 491,389

Average earning assets $ 34,091,046 $ 33,544,840

Earning assets yield (GAAP) 5.83% 5.82%

Earning assets yield (FTE) (non-GAAP) 5.89% 5.88%

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 assets, tangible common

equity and the related ratios are meaningful

measures of capital adequacy because they

provide a meaningful base for period-to-period

and company-to-company comparisons, which

the Company believes will assist investors in

assessing the capital of the Company and its

ability to absorb potential losses. The Company

believes tangible common equity is an important

indication of its ability to grow organically and

through business combinations, as well as its

ability to pay dividends and to engage in various

capital management strategies. The Company

also calculates adjusted tangible common

equity to tangible assets ratios to exclude AOCI,

which is principally comprised of unrealized

losses on AFS securities, and to include the

impact of unrealized losses on HTM securities.

The Company believes that each of these ratios

enables investors to assess the Company's

capital levels and capital adequacy without the

effects of changes in AOCI, some of which are

uncertain and difficult to predict, or assuming

that the Company realized all previously

unrealized losses on HTM securities at the end of

the period, as applicable.

TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO

(Dollars in thousands, except per share amounts)

As of September 30, 2026 As of June 30, 2026 As of September 30, 2025

Atlantic Union Atlantic Union Atlantic Union Atlantic Union Atlantic Union

Bankshares Bank Bankshares Bank Bankshares

Tangible Assets

Ending Assets (GAAP) $ 38,351,665 $ 38,265,036 $ 38,099,868 $ 38,016,047 $ 37,072,733

Less: Ending goodwill 1,754,875 1,754,875 1,754,875 1,754,875 1,726,386

Less: Ending amortizable intangibles 270,016 270,016 284,962 284,962 333,236

Ending tangible assets (non-GAAP) $ 36,326,774 $ 36,240,145 $ 36,060,031 $ 35,976,210 $ 35,013,111

Tangible Common Equity

Ending equity (GAAP) $ 5,050,604 $ 5,816,697 $ 5,153,414 $ 5,792,358 $ 4,917,058

Less: Ending goodwill 1,754,875 1,754,875 1,754,875 1,754,875 1,726,386

Less: Ending amortizable intangibles 270,016 270,016 284,962 284,962 333,236

Less: Perpetual preferred stock 166,357 — 166,357 — 166,357

Ending tangible common equity (non-GAAP) $ 2,859,356 $ 3,791,806 $ 2,947,220 $ 3,752,521 $ 2,691,079

Net unrealized losses on HTM securities, net of tax $ (83,080) $ (83,080) $ (29,142) $ (29,142) $ (35,687)

Accumulated other comprehensive loss (AOCI) $ (402,417) $ (402,416) $ (276,793) $ (276,815) $ (283,108)

Common shares outstanding at end of period 140,445,286 141,924,165 141,732,071

Average equity (GAAP) $ 5,144,943 $ 5,840,503 $ 5,125,495 $ 5,771,065 $ 4,866,989

Less: Average goodwill 1,754,875 1,754,875 1,754,875 1,754,875 1,711,081

Less: Average amortizable intangibles 277,313 277,313 292,322 292,322 342,064

Less: Average perpetual preferred stock 166,356 — 166,356 — 166,356

Average tangible common equity (non-GAAP) $ 2,946,399 $ 3,808,315 $ 2,911,942 $ 3,723,868 $ 2,647,488

Book value per common share (GAAP) $ 34.78 $ 35.14 33.52

Tangible book value per common share (non-GAAP) $ 20.36 $ 20.77 18.99

Tangible book value per common share, ex AOCI (non-GAAP) $ 23.22 $ 22.72 20.98

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 assets, tangible common

equity and the related ratios are meaningful

measures of capital adequacy because they

provide a meaningful base for period-to-period

and company-to-company comparisons, which

the Company believes will assist investors in

assessing the capital of the Company and its

ability to absorb potential losses. The Company

believes tangible common equity is an important

indication of its ability to grow organically and

through business combinations, as well as its

ability to pay dividends and to engage in various

capital management strategies. The Company

also calculates adjusted tangible common

equity to tangible assets ratios to exclude AOCI,

which is principally comprised of unrealized

losses on AFS securities, and to include the

impact of unrealized losses on HTM securities.

The Company believes that each of these ratios

enables investors to assess the Company's

capital levels and capital adequacy without the

effects of changes in AOCI, some of which are

uncertain and difficult to predict, or assuming

that the Company realized all previously

unrealized losses on HTM securities at the end of

the period, as applicable.

TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO

(Dollars in thousands, except per share amounts)

As of September 30, 2026

Atlantic Union Atlantic Union

Bankshares Bank

Common equity to total assets (GAAP) 12.7% 15.2%

Tangible equity to tangible assets (non-GAAP) 8.3% 10.5%

Tangible equity to tangible assets, incl net unrealized losses on HTM securities (non-GAAP) 8.1% 10.2%

Tangible common equity to tangible assets (non-GAAP) 7.9% 10.5%

Tangible common equity to tangible assets, incl net unrealized losses on HTM securities (non-GAAP) 7.6% 10.2%

Tangible common equity to tangible assets, ex AOCI (non-GAAP) 9.0%

Leverage Ratio

Tier 1 capital $ 3,480,605 $ 4,249,060

Total average assets for leverage ratio $ 36,301,615 $ 36,217,022

Leverage ratio 9.6% 11.7%

Leverage ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 8.3% 10.4%

RECONCILIATION OF NON-GAAP DISCLOSURES

All regulatory capital ratios at September 30,

2026 are estimates and subject to change

pending the Company’s filing of its FR Y-9C. In

addition to these regulatory capital ratios, the

Company adjusts certain regulatory capital

ratios to include the impacts of AOCI, which the

Company has elected to exclude from regulatory

capital ratios under applicable regulations, and

net unrealized losses on HTM securities,

assuming that those unrealized losses were

realized at the end of the period, as applicable.

The Company believes that each of these ratios

help investors to assess the Company's

regulatory capital levels and capital adequacy.

RISK-BASED CAPITAL RATIOS

(Dollars in thousands)

As of September 30, 2026

Atlantic Union

Bankshares

Atlantic

Union Bank

Risk-Based Capital Ratios

Net unrealized losses on HTM securities, net of tax $

(83,080) $

(83,080)

Accumulated other comprehensive loss (AOCI) $

(402,417) $

(402,416)

Common equity tier 1 capital $ 3,314,249 $ 4,249,060

Tier 1 capital $ 3,480,605 $ 4,249,060

Total capital $ 4,642,674 $ 4,558,917

Total risk-weighted assets $ 31,897,596 $ 31,814,302

Common equity tier 1 capital ratio 10.4% 13.4%

Common equity tier 1 capital ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 8.9% 11.8%

Tier 1 capital ratio 10.9% 13.4%

Tier 1 capital ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 9.4% 11.8%

Total capital ratio 14.6% 14.3%

Total capital ratio, incl AOCI and net unrealized losses on HTM securities (non-GAAP) 13.0% 12.8%

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 assets, tangible common

equity and the related ratios are meaningful

measures of capital adequacy because they

provide a meaningful base for period-to-period

and company-to-company comparisons, which

the Company believes will assist investors in

assessing the capital of the Company and its

ability to absorb potential losses. The Company

believes tangible common equity is an important

indication of its ability to grow organically and

through business combinations as well as its

ability to pay dividends and to engage in various

capital management strategies. The Company

believes that ROTCE is a meaningful supplement

to GAAP financial measures and is useful to

investors because it measures the performance

of a business consistently across time without

regard to whether components of the business

were acquired or developed internally. Adjusted

operating measures exclude or include, as

applicable, loss on debt extinguishment, gain on

sale of securities, gain on sale of equity interest

in Bearing Insurance and amortization of

intangible assets. The Company believes these

non-GAAP adjusted measures provide investors

with important information about the continuing

economic results of the Company’s operations.

OPERATING MEASURES

(Dollars in thousands)

For the three months ended

September 30, 2026 June 30, 2026

Return on average assets (ROA)

Average assets (GAAP) $ 37,975,963 $ 37,433,973

ROA (GAAP) 1.43% 1.73%

Adjusted operating ROA (non-GAAP) 1.45% 1.47%

Return on average equity (ROE)

Adjusted operating earnings available to common shareholders (non-GAAP) $ 135,634 $ 134,020

Plus: Amortization of intangibles, tax effected 11,807 11,957

Adjusted operating earnings available to common shareholders before amortization of intangibles

(non-GAAP)

$ 147,441 $ 145,977

Average equity (GAAP) $ 5,144,943 $ 5,125,495

Less: Average goodwill 1,754,875 1,754,875

Less: Average amortizable intangibles 277,313 292,322

Less: Average perpetual preferred stock 166,356 166,356

Average tangible common equity (non-GAAP) $ 2,946,399 $ 2,911,942

ROE (GAAP) 10.54% 12.60%

Return on tangible common equity (ROTCE)

Net Income available to common shareholders (GAAP) $ 133,665 $ 158,046

Plus: Amortization of intangibles, tax effected 11,807 11,957

Net Income available to common shareholders before amortization of intangibles (non-GAAP) $ 145,472 $ 170,003

ROTCE (non-GAAP) 19.59% 23.42%

Adjusted operating ROTCE (non-GAAP) 19.85% 20.11%

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

assets, tangible common equity and the related ratios

are meaningful measures of capital adequacy

because they provide a meaningful base for period-to-period and company-to-company comparisons, which

the Company believes will assist investors in

assessing the capital of the Company and its ability to

absorb potential losses. The Company believes

tangible common equity is an important indication of

its ability to grow organically and through business

combinations as well as its ability to pay dividends and

to engage in various capital management strategies.

The Company believes that ROTCE is a meaningful

supplement to GAAP financial measures and is useful

to investors because it measures the performance of a

business consistently across time without regard to

whether components of the business were acquired or

developed internally. Adjusted operating measures

exclude or include, as applicable, merger-related

costs, FDIC special assessments, legal reserves

associated with our previously disclosed settlement

with the CFPB, strategic cost savings initiatives

(principally composed of severance charges related to

headcount reductions, costs related to modifying

certain third party vendor contracts and charges for

exiting certain leases), strategic branch closing and

related facility consolidation costs (principally

composed of real estate, leases and other asset write

downs, as well as severance and expense reduction

initiatives), loss on debt extinguishment, the net loss

related to balance sheet repositioning (principally

composed of gains and losses on debt

extinguishment), deferred tax asset write-down, CECL

Day 1 non-PCD loans and RUC provision expense,

gain (loss) on sale of securities, gain on sale-leaseback transaction, gain on CRE loan sale, gain on

sale of DHFB, gain on sale of equity interest in CSP,

gain on sale of equity interest in Bearing Insurance,

and gain on the sale of Visa, Inc. Class B common

stock. The Company believes these non-GAAP

adjusted measures provide investors with important

information about the continuing economic results of

the Company’s operations.

OPERATING MEASURES

For the nine months ended For the years ended

(Dollars in thousands, except per share amounts) September 30, 2026 2025 2024 2023 2022 2021

Return on assets (ROA)

Average assets $ 37,557,572 $ 34,380,986 $ 23,862,190 $ 20,512,402 $ 19,949,388 $ 19,977,551

ROA (GAAP) 1.49% 0.80% 0.88% 0.98% 1.18% 1.32%

Adjusted operating ROA (non-GAAP) 1.44% 1.33% 1.11% 1.14% 1.16% 1.43%

Return on equity (ROE)

Adjusted operating earnings available to common shareholders

(non-GAAP) $ 395,808 $ 444,842 $ 252,826 $ 221,238 $ 219,011 $ 273,306

Plus: Amortization of intangibles, tax effected 35,967 47,138 15,253 6,937 8,544 10,984

Adjusted operating earnings available to common shareholders

before amortization of intangibles (non-GAAP) $ 431,775 $ 491,980 $ 268,079 $ 228,175 $ 227,555 $ 284,290

Average equity (GAAP) 5,113,117 4,446,839 2,971,111 2,440,525 2,465,049 2,725,330

Less: Average goodwill 1,747,837 1,592,391 1,139,422 925,211 930,315 935,560

Less: Average amortizable intangibles 292,312 277,977 73,984 22,951 34,627 49,999

Less: Average perpetual preferred stock 166,356 166,356 166,356 166,356 166,356 166,356

Average tangible common equity (non-GAAP) $ 2,906,612 $ 2,410,115 $ 1,591,349 $ 1,326,007 $ 1,333,751 $ 1,573,415

ROE (GAAP) 10.98% 6.16% 7.04% 8.27% 9.51% 9.68%

Return on tangible common equity (ROTCE)

Net Income available to common shareholders (GAAP) $ 410,910 $ 261,847 $ 197,263 $ 189,950 $ 222,642 $ 252,049

Plus: Amortization of intangibles, tax effected 35,967 47,138 15,253 6,937 8,544 10,984

Net Income available to common shareholders before

amortization of intangibles (non-GAAP) $ 446,877 $ 308,965 $ 212,516 $ 196,887 $ 231,186 $ 263,033

ROTCE (non-GAAP) 20.56% 12.82% 13.35% 14.85% 17.33% 16.72%

Adjusted operating ROTCE (non-GAAP) 19.86% 20.41% 16.85% 17.21% 17.06% 18.07%

RECONCILIATION OF NON-GAAP DISCLOSURES

Adjusted operating pre-tax pre-provision

earnings (FTE) excludes or includes, as

applicable, the provision for credit losses, which

can fluctuate significantly from period-to-period

under the CECL methodology, income tax

expense, loss on debt extinguishment, gain on

sale of securities, and gain on sale of equity

interest in Bearing Insurance. The Company

believes this adjusted measure provides

investors with important information about the

continuing economic results of the Company’s

operations.

ADJUSTED OPERATING PRE-TAX PRE-PROVISION EARNINGS (FTE)

(Dollars in thousands)

For the three months ended

September 30, 2026 June 30, 2026

Net interest income (GAAP) $ 328,422 $ 325,118

FTE adjustment 4,693 4,561

Net interest income (FTE)(non-GAAP) $ 333,115 $ 329,679

Noninterest income (GAAP) 54,792 90,248

Total revenue (FTE)(non-GAAP) $ 387,907 $ 419,927

Less: Noninterest expense (GAAP) 204,333 199,136

Pre-tax pre-provision earnings (FTE)(non-GAAP) $ 183,574 $ 220,791

Plus: Loss on debt extinguishment 2,654 —

Less: Gain on sale of securities 10 4

Less: Gain on sale of equity interest in Bearing Insurance — 32,350

Adjusted operating pre-tax pre-provision earnings (FTE)(non-GAAP) $ 186,218 $ 188,437

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